There has been a large amount of discussion surrounding the security of using cards to pay at the register in recent months. The interest in the security of these payments was recently ignited in November 2013 when Target and Neiman Marcus both suffered breaches that captured the sensitive d[…]
A convenience fee, also called a surcharge, is an additional cost added to the final amount of a transaction. Usually this cost is part of an online experience, like when purchasing movie or concert tickets. It can also be charged in order to cover any processing costs. […]
It all starts with a donor who wants to give online. They click the “Give Now” button and are directed to a secure payment page. The donor arrives at the payment form that collects the card information. When the donor finishes entering their information and submits the gift, the authorization process begins. […]
Card not present (CNP) fraud has continued to increase as more and more business is being conducted in an e-commerce environment. According to Cardhub, “Credit card and debit card fraud resulted in losses amounting to $11.27 billion during 2012.” It goes on to state that, “merchant losses mainly occur […]
As the name suggests, a payment card is a card that can by used by a consumer and accepted by a merchant to make a payment for goods, services, donations, etc. These cards typically fall into one of two basic varieties: the credit card and the debit (or prepaid) card. […]
Each card brand has implemented security features to prevent fraudulent and counterfeit transactions from entering the payment systems. Below is a breakdown of those features by card type to arm you and your organization with the tools necessary to identify fraudulent cards, and minimize potential losses for your organization[…]
Traditionally, counterfeit fraud attempts increase after large data compromises, such as the recent Target breach. According to Visa, the key areas to focus on to mitigate this risk are: proper card acceptance procedures, identification of valid and suspicious cards, verification of cardholder identity and identifying suspicious behavior. This simply means […]
How “Rewarding” are Rewards Programs? Rewards Credit Cards are not a new concept, but making charitable donations or tithing with them might be to some donors. Nearly everyone has heard of the potential tangible gains that are available to eligible consumers who regularly utilize these financial tools, but […]
Before addressing this exasperating question, let me first provide more information regarding why chargebacks exist. Chargebacks are designed to protect the consumer, not the merchant. They are to uphold the integrity of the payment card industry. With so many breaches occurring, such as the recent Target breach, consumers […]