Payment Savvy

MAY 11, 2023

Chargebacks: Chargebacks can occur when a cardholder disputes a transaction, and the funds are returned to the cardholder. As a merchant, you may be liable for chargebacks if you do not follow proper card acceptance and processing procedures. Security: Visa has strict security requirements to protect cardholder data and prevent fraud.

Rules 52

Rules PCI DSS Disputes Payment Networks 52

Stax

JANUARY 8, 2024

To establish an effective risk management program as a PayFac, you must establish a dedicated risk management team, utilize the right tools and technology, develop proper risk management policies and procedures, conduct regular risk audits, and stay up-to-date with the latest industry regulations.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

M2P Fintech

DECEMBER 17, 2024

KYC procedures validate their identity and legitimacy through checks on business licenses and ownership details. Self-service capabilities enable merchants to update information, manage payment options, and resolve disputes independently. Compliance monitoring ensures adherence to regulations like PCI DSS and AML laws.

Fraud Detection 52

Fraud Detection PCI DSS Disputes Settlement 52

Stax

NOVEMBER 11, 2024

Businesses must adhere to NACHA’s “ACH Security Framework,” which includes measures for safeguarding sensitive customer data – similar to how PCI DSS protects cardholder information at checkout. Regulation E also provides consumers with dispute and error resolution rights.

ACH 88

ACH Checks Identity Theft Payments 88

EBizCharge

MAY 13, 2024

Compliance and security: Automation solutions come designed with compliance and security at their core, adhering to payment standards like the Payment Card Industry Data Security Standard (PCI DSS). They help ensure adherence to financial regulations and standards by maintaining transparent, accurate records and audit trails.

Automation 52

Automation Disputes Payments Process 52

Payment Savvy

JULY 3, 2024

Businesses that learn the ins and outs of debit card processing can better accommodate their customers’ preferences and rationalize their financial procedures. Chargeback Process (when customers dispute transactions) In some cases, cardholders may dispute a transaction, leading to a chargeback.

Debit Card 52

Debit Card Process PCI DSS Processors 52

EBizCharge

NOVEMBER 21, 2024

To mitigate payment delays and avoid payment interest penalties, understanding the constructive acceptance period and applicable agency procedures can ensure timely and efficient processing. By adhering to the defined payment procedures, businesses can avoid additional penalty payments and maintain smooth financial operations.

Procedures 52

Procedures Mitigation Wire Transfer Payments 52

EBizCharge

APRIL 26, 2024

AR management also helps minimize the risk of bad debt by implementing timely invoicing and diligent follow-up procedures, safeguarding profitability and financial stability. You can also identify areas where invoicing, payment collection, or follow-up procedures may be lacking or outdated.

Accounts 52

Accounts Best Practices Disputes Procedures 52

Segpay

JANUARY 30, 2025

As financial institutions, these companies must implement risk management procedures and regulatory compliance to prevent reputational and financial damage. Chargeback Susceptibility: Subscription-based AI services or pay-per-use models can lead to disputes over charges if customers misunderstand usage terms or face unexpected costs.

Merchant Payment Processing 52

Merchant Payment Processing Processors AI Process 52

Exact Payments

SEPTEMBER 25, 2023

Step 4: Obtain PCI Certification Every business that transmits or handles payment information must comply with the Payment Card Industry’s Data Security Standards or PCI DSS. Preventing fraud and risk concerns requires a multi-layered approach, consisting of various procedural systems and technologies.

PCI DSS 52

PCI DSS OFAC Facilitators Payment Gateways 52

Stax

MAY 7, 2024

The transactional procedures are the authorization, clearing, and settlement processes of the funds being transferred. Chargeback fees – Sometimes, a customer opens a transaction dispute and seeks a refund of their payment. The average PCI compliance fees vary depending on various factors, such as business specifications.

Credit Cards 88

Credit Cards Process Processors Online and Mobile Banking 88

Payment Savvy

NOVEMBER 11, 2020

It manages all the procedures between the issuing bank and the acquiring one when a person buys a product or service online. Safety: PCI DSS Compliance Level. For the highest safety possible, you should select an option with PCI DSS Level 1. It proves excellent as a middleman in payment processing.

Payment Gateways 52

Payment Gateways Gateways PCI DSS Credit Cards 52

EBizCharge

JULY 2, 2024

Ease of use is another factor; simple payment procedures require less effort from customers, enhancing their overall experience with the brand. Compliance means adhering to industry standards and regulations, such as the Payment Card Industry Data Security Standards (PCI DSS) , ensuring that credit card data is handled safely.

Contactless Payments 52

Contactless Payments Payments Disputes Online and Mobile Banking 52

EBizCharge

MAY 14, 2024

Improved accuracy Automated billing software is programmed to follow predefined rules and procedures consistently, minimizing the risk of human error inherent in manual billing processes. However, clear terms must be established to prevent misunderstandings and disputes.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Nanonets

AUGUST 21, 2023

Stronger supplier relationships Late payments, disputes, and other payment-related issues can damage supplier relationships. It should contain detailed information on the B2B payment automation software you've chosen, how it works, user privileges, approval routing, and any policies or procedures that need to be followed.

B2B 52

B2B Automation Payment APIs and Integration Payments 52

Clearly Payments

NOVEMBER 18, 2024

Here are some other articles on chargeback management: How to Build a Chargeback Payments Team in your Company How to Win Chargeback Disputes What is a Good Credit Card Chargeback Rate for Merchants? Customer Support Specialists Responsibilities: Address disputes proactively by resolving customer concerns before they escalate to chargebacks.

PCI DSS 59

PCI DSS Address Verification System (AVS) Disputes Card Network Rules 59