PYMNTS

OCTOBER 4, 2016

Ethoca , a provider of collaboration-based technology solutions for credit card companies and online merchants, announced a new partnership on Monday (Oct. 3) with Lean Industries , a dispute management software solution provider. The integration is aimed at reducing the costly and labor-intensive chargeback process. “We

Disputes 53

Disputes Card Issuer Issuers Mitigation 53

PYMNTS

OCTOBER 15, 2018

American Express, the payments company, and Ethoca , a provider of collaboration-based technology solutions for merchants and card issuers, announced on Monday (Oct. In a press release , the companies said the partnership is aimed at helping American Express merchants and card members in the U.S.

Disputes 49

Disputes Card Issuer Issuers Transactions 49

PYMNTS

NOVEMBER 3, 2016

Citigroup announced this week that Citi credit cardmembers now have the ability to dispute charges within its mobile app. Citi said it will roll out the ability for credit card customers to dispute charges posted within the Citi Mobile App for Android in December. “In Citi claims it is the only credit card issuer in the U.S.

Disputes 67

Disputes Credit Cards Card Issuer Duplicate 67

Fi911

AUGUST 16, 2024

American Express chargeback reason codes are a collection of identifiers used to classify different chargeback situations, reflecting the disputes raised by cardholders against sellers. These codes are vital for organizing disputes and determining the necessary next steps.

Disputes 52

Disputes Non-Bank EMV Authorization 52

Payments Source

JUNE 5, 2019

credit-card issuer, is reviving a controversial policy that forces credit-card customers to use arbitration instead of court to resolve payment disputes. JPMorgan Chase & Co., the biggest U.S.

Credit Cards 88

Credit Cards Card Issuer Disputes Issuers 88

Fi911

MAY 22, 2024

This process can be triggered for various reasons, such as a disputed charge, an error in the transaction, or fraud detection. Disputed Charges : When a payer disputes a charge, possibly due to not receiving the goods or services promised, a payment reversal can be initiated. What is a Chargeback?

Payer 79

Payer Address Verification System (AVS) Disputes Payee 79

Segpay

APRIL 16, 2024

Cardholders dispute a transaction with their bank, resulting in a reversal of funds. This occurs when customers intentionally dispute legitimate transactions just to get a refund of their payment for products or services they did receive. Last year, the payment business suffered an estimated 238 million chargebacks.

Disputes 52

Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

PYMNTS

SEPTEMBER 29, 2020

Mastercard, through its collaborative fraud and dispute resolution technology Ethoca , will now offer a new version of online statements with added logos and clear business names for each transaction. This can lead to consumers contacting their banks, which could incur costs and waste time with unnecessary chargebacks.

Issuers 97

Issuers Visa Transactions Disputes 97

Finovate

JUNE 6, 2024

Yaacov Martin : The Consumer Financial Protection Bureau (CFPB) recently released an interpretive rule for the BNPL industry, which classifies BNPL providers as credit card issuers under the Truth in Lending Act. Martin : The CFPB’s new interpretive rule might have an impact on international BNPL operations as this U.S.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

Fintech Finance

JULY 23, 2024

Chargeback Liability Shift: For payments that are successfully authenticated using 3D Secure, the liability shifts from the business to the card issuer, protecting them from disputes.

Technology 64

Technology Authentication Rules Card Issuer 64

PYMNTS

APRIL 15, 2020

“The only way the industry can solve this growing and costly problem is through industry-wide collaboration between card issuers, merchants and card brands sharing purchase insight in real time through the channels consumers know and trust,” he added.

Online and Mobile Banking 67

Online and Mobile Banking Card Issuer Disputes Visa 67

PYMNTS

OCTOBER 30, 2020

Automating Dispute Resolutions. Another common frustration that can be improved through the use of automation is dispute resolution. Payments disputes and chargebacks are on the rise, and 61 percent of merchants expect to see increased dispute rates in the near future. Cloud Payments Integration.

Automation 91

Automation Process Disputes AML 91

Clearly Payments

JUNE 12, 2024

Chargeback disputes represent a growing challenge for merchants and financial institutions. Originating as a consumer protection mechanism, chargebacks were designed to ensure customers could dispute fraudulent or erroneous transactions. We dig into the facts and statistics on chargebacks.

Disputes 52

Disputes Card Issuer Acquirers Transactions 52

Clearly Payments

FEBRUARY 7, 2024

Chargeback Rate The chargeback rate measures the percentage of transactions that result in chargebacks, which occur when customers dispute a transaction with their card issuer. Monitoring chargeback rates helps merchants identify potential fraud or disputes and implement preventive measures to mitigate risks.

Process 98

Process PCI DSS Settlement Processing Costs 98

PYMNTS

SEPTEMBER 15, 2020

Resolving disputes can be time intensive, forcing banks to take on the administrative tasks required to gather and assess evidence. Card issuers that believe chargeback claims are valid then ask merchant acquirers to send funds on behalf of merchants to cover the transaction reversals — unless the sellers wish to dispute the claims.

AI 62

AI Disputes Issuers Push-to-Card 62

Payment Savvy

AUGUST 3, 2023

When you run any BIN number through a checking system, you end up with accurate information about the geolocation, card issuer, and card type. Since online banking systems have become more popular and virtual cards have become a norm, BIN numbers aren’t necessarily bank-issued. Why is there an 8-digit BIN number?

Issuers 98

Issuers Card Issuer Processors Credit Cards 98

EBizCharge

AUGUST 30, 2024

Breakdown of credit card processing fees Credit card processing fees are charged to merchants for each credit card transaction processed. Avoid high-risk transactions High-risk transactions often incur higher fees from payment processors because they’re more vulnerable to fraud, disputes, and chargebacks.

Credit Cards 52

Credit Cards Processors Process Card Issuer 52

Fi911

NOVEMBER 24, 2023

If a dispute was unfounded, they can start by responding through representment. This step allows merchants to submit proof to the card issuer to demonstrate that the transaction was valid and should not have been reversed. How Does a Hearing Progress? It’s crucial to understand what this involves and the duration it might take.

Legal 52

Legal Disputes Procedures On-Demand 52

PYMNTS

SEPTEMBER 14, 2020

Merchants also appear reluctant to dispute friendly fraud , as many seem to believe they do not have the resources to do so or that they cannot adequately prove chargebacks are fraudulent. FIs also lose money to fraudulent chargebacks because they must dedicate a significant amount of staff time to investigating claims and managing disputes.

AI 70

AI Disputes Push-to-Card Acquirers 70

PYMNTS

MARCH 31, 2020

Merchants will also be able to avoid chargeback fees if customers file a dispute with their credit card issuer, at least through the end of April. Merchants will also have twice as much time to respond to a customer dispute.

PayPal 52

PayPal Debit Card Venmo Disputes 52

PYMNTS

AUGUST 25, 2016

Coles is also a credit card issuer and says that a collective negotiation to allow third-party digital wallet apps on Apple hardware would provide more choices to the consumer and be in their best interest. ” Apple has said that opening up the iPhone’s NFC would “ fundamentally diminish ” its security.

Disputes 40

Disputes Card Issuer Issuers Settlement 40

Stax

AUGUST 29, 2024

It will also communicate with the customer’s card issuer to verify the authenticity of the card details entered into your checkout page. That’s why electronic payments information is first sent to an acquiring bank for verification with the customer’s issuing bank and card issuer before the transaction is authorized.

Payment Service Provider (PSP) 88

Payment Service Provider (PSP) Service Provider Payment Gateways Online and Mobile Banking 88

Payment Savvy

OCTOBER 22, 2020

Friendly fraud is when consumers pay for a product or service online using their credit card, then contact their credit card issuer to dispute that transaction. Some of the reasons customers will give when contacting their credit card issuer about friendly fraud include: The product/service was not delivered.

Card Issuer 52

Card Issuer Credit Cards Returns Issuers 52

PYMNTS

MAY 5, 2020

There’s a legitimate wave of disputes and chargebacks that are hitting the travel and entertainment verticals as consumers cancel trips, postpone weddings or try to get credit for flights that simply cannot be taken right now. The Issuer Side Of The Equation. They’re trying to help their cardholders,” she said.

Disputes 83

Disputes Issuers Visa Identity Theft 83

The Paypers

MAY 31, 2016

(The Paypers) The Online Payment Exchange ( ONPEX ) has announced a partnership with Ethoca to help CNP merchants and card issuers to stop ecommerce fraud and disputes.

Card Issuer 28

Card Issuer Disputes Issuers Payments 28

PYMNTS

JULY 16, 2018

The former typically carry the same liability protections as those offered by a debit card, for example, while the latter do not offer consumers the same for unauthorized charges. Payroll card issuers are also required to disclose their fee structures and customer dispute resolution process, but reloadable card issuers are not.

Payroll 42

Payroll Card Issuer Debit Card Push-to-Card 42

Stax

MAY 7, 2024

For example, the interchange fees for online transactions may be higher due to the higher risk of credit card fraud. Interchange fees are set by credit card issuers, such as Bank of America, Citi, or Chase, and are adjusted every year in April and October. Can merchants pass credit card processing fees to customers?

Credit Cards 88

Credit Cards Process Processors Online and Mobile Banking 88

PYMNTS

MARCH 13, 2019

That spans account origination, when consumers establish digital relationships with merchants and banks or simply make a purchase, to addressing “what happens if something goes wrong” and there is a disputed transaction or actual fraud afoot.

Visa 74

Visa Disputes Issuers Authentication 74

PYMNTS

JULY 14, 2020

Our research reveals that while credit-centric revolvers and debit-centric consumers are the most interested in downloading better card apps, the features they find most compelling diverge in interesting ways. About The Playbook.

Debit Card 78

Debit Card Consumer Credit Cards Card Issuer 78

PYMNTS

JUNE 23, 2016

Amex will also limit the number of counterfeit fraud chargebacks to a total of 10 per card account. Under these new policies, the card issuer, instead of the merchant, will cover the liability for the additional counterfeit fraud transaction disputed from a card account after those 10 chargebacks.

EMV 45

EMV Chip Cards CHIPS Disputes 45

PYMNTS

NOVEMBER 22, 2016

As the company grew, it branched out to work with domestic and international card issuers. This gave us a very different perspective on how card issuers view chargebacks and fraud,” said Katz. “It’s

Facilitators 47

Facilitators Card Issuer Issuers Online and Mobile Banking 47

Fintech Labs Insights

MAY 12, 2015

Card Issuers can notify at-risk cards to consumers and set higher level of controls. Card Issuers can request consumers to confirm any transaction in real-time. Consumers can initiate transaction disputes from their mobile device. Product Launch: May 2015. HQ: San Jose, CA. Product Demoed: CardConnect.

Card Issuer 24

Card Issuer Consumer Issuers Disputes 24

PYMNTS

DECEMBER 18, 2020

Most customers bypass restaurants entirely when trying to perpetrate chargeback fraud , with 76 percent of cardholders going directly to their payment card issuers. This gives QSRs no chance to weigh in on customers’ assertions and dispute any illegitimate claims.

Fraud Detection 91

Fraud Detection Security Credit Cards Card Issuer 91

Stax

MARCH 15, 2024

Protect Your Customers and Your Business from Chargebacks When a fraudulent purchase occurs at your online store, it could lead to a credit card chargeback. If your business is subject to a chargeback, you and your company can end up paying extra fees to your credit card processor as well.

Process 88

Process Security PCI DSS Encryption 88

EBizCharge

MAY 15, 2024

Issuer The issuer refers to the bank or financial institution issuing the customer’s credit card. An issuer plays a crucial role as the entity responsible for granting payment cards and overseeing the financial transactions made using those cards.

B2B 52

B2B Wire Transfer Payments Payment Gateways 52

Electronic Payments Coalition

MARCH 26, 2024

Simplified surcharging and discounting rules – As part of the settlement agreement, the networks will activate a simplified approach to credit card transaction surcharging, providing merchants more optionality. Merchants will be permitted to provide customers truthful information as to why they are applying a charge for credit card use.

Agreements 52

Agreements Payment Networks Settlement Credit Cards 52

Nanonets

NOVEMBER 15, 2023

When a customer pays with a credit or debit card, the payment processor validates the card and initiates a transfer of funds from the cardholder’s bank to the merchant’s account. The processor then settles the transaction with the card issuer. What is a Payment Processor?

Processors 52

Processors Payment APIs and Integration Office of the Comptroller of the Currency Payments 52