Card Verification Value (CVV)
In the age of online shopping, credit card brands have had to get serious about security. One solution they’ve rolled out is the CVV-–the Card Verification Value. You’ve probably used this feature as a customer yourself! This is a 3-digit number on the back of the card that is used to prevent fraud in the […]
Address Verification System (AVS)
If your business depends primarily on online orders,then perhaps you’ve come across the acronym AVS. AVS stands for “AddressVerification System” and it is a fraud prevention tool used to verify thebilling address provided by the customer with the address on file with thecredit card issuing bank. AVS checks the numeric portions of the address—likestreet number […]
Chargeback Monitoring Program
Does your business receive more than its fair share of chargebacks? Credit card associations are paying attention. Most card associations monitor merchant activity on a monthly basis. They keep tabs on everything from chargeback ratios, to disputes and fraudulent transactions. Merchants are expected to keep disputes and fraud at acceptable levels. If your business receives […]
American Express Chargeback Dispute Process
American Express chargeback disputes work differently than Visa and Mastercard. One of the main reasons American Express chargeback disputes differ is because American Express operates differently than other card networks. Unlike Visa and Mastercard, American Express has their own financial institutions that issue credit cards to consumers. What Happens after a Customer Disputes a Transaction? […]
Chargeback Reversals
As a business owner, your first priority should be keeping as much profit as you can, and that includes minimizing the number of chargebacks you experience. Chargebacks can not only eat into your profits, they can also throw suspicion onto your reputation with your payment processor. A chargeback reversal is what happens if you win […]
Visa Reason Codes
Visa reason codes are a string of numbers assigned to different explanations for chargebacks. All card brands have their own reason codes, and they’re meant to keep things organized when a dispute occurs. Visa has 4 categories for disputes: Fraud, Authorization, Processing Error, and Consumer Dispute. Fraud Codes Fraud is given the reason code 10. […]
Visa Chargeback Resolution Process
Visa changed the dispute process for chargebacks in 2017, due to the high volume of chargebacks they encounter. Visa’s overall goal is to resolve disputes before they happen, or at least soon after. Their chargeback resolution process consists of five steps, and it is intended to streamline the process, save time, and cut down on […]
Second Presentment
In commerce, presentment refers to furnishing a bill, note, or other document as for acceptance or payment. In most transactions, a merchant usually only needs to complete one form of presentment. However, if a transaction is disputed and results in a chargeback, the merchant must submit a second presentment (sometimes referred to as re-presentment) in […]
MATCH/TMF
Usually, when a merchant account is terminated, the merchant’s name and business is listed on MATCH—Member Alert to Control High Risk. Ending up on MATCH is the nightmare of legitimate merchants. This is because finding an individual’s name on MATCH means that most processors will not approve a different merchant account with the same owner […]
Retrieval Requests
When a bank or credit card company contacts a merchant to inquire about a transaction, this action is called a retrieval request, or sometimes a “soft chargeback.” This can happen when the institution believes that a transaction may be fraudulent or if a customer does not recognize a transaction. Unlike a chargeback, this is just […]
