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Financial Institutions Finding Ways to Recoup Lost Debit Interchange Revenue

According to an estimate by Javelin Strategy & Research the Durbin Amendment will eliminate $6.6 billion in annual revenue for affected financial institutions. But banks don’t plan on just letting this money go, instead they are finding ways to regain these revenues and steer consumers to more profitable payment forms. Consumers are already starting to see fees for debit card use, increased costs for checking accounts, debit card transaction limits and increased ATM fees while debit card reward programs quickly disappear.

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MRC Europe 2011

Published on October 1, 2011, by in Events.

The Fraud Practice’s David Montague is a featured speaker at the upcoming MRC Europe held in Berlin, Germany from October  17-19, 2011 where he will be providing a session title “Moving Beyond the Device,” a strategy for making best use of device identification.

 
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Increased Legislation Causing Waves in the Online Landscape

In the United States debit interchange rates will be capped at around 21 cents beginning in October, 2011. Meanwhile, more states explore eCommerce tax revenues as a solution to budget deficits. In the European Union recent amendments to the Consumer Rights Directive improve customer refund and return rights affecting all internet, phone and mail order transactions. The US and EU continue to draft legislation and regulations affecting eCommerce.

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Tens of Thousands of Fraud Attempts, None Successful

Case Study – ATMCASH.com.We always seem to hear about the successful fraudsters who cheated merchants, but we don’t often hear about the successful merchants in stopping fraudsters. ATMCASH is an online money remittance business that, since its inception in 2005, has been able to maintain fraud losses well below the expected rates for their high risk vertical market. This is a remarkable feat for any online business, but an even greater accomplishment in the money movement vertical, an industry that sees a persistently high number of fraud attempts while the costs of fraud prevention and fraud losses have driven many entrants out of business. READ MORE

 
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Litle’s 2011 Client Conference

Published on May 15, 2011, by in Events.

David Montague will be presenting a session at this year’s Litle & Co. Client Conference held in Boston, MA this June.

 
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MasterCard Changes to Chargeback Policy Benefits Online Merchants

A recent rule change from MasterCard shifts the liability from merchants to issuers when subsequent fraud related chargebacks come in for a credit card account that has already had two fraud chargebacks and should have been closed by the issuer. This rule change applies to specific chargeback reason codes and will benefit merchants for chargeback re-presentment.

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7 Ways to Keep Customers Coming Back

Now more than ever, merchants need to focus on how they can keep customers coming back to their website. Focusing on increasing repeat business will increase efficiency and create long lasting relationships with brand loyal consumers.  Here’s 7 ideas to help increase sales conversion through getting consumers to return to your website.

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Secondhand Mobile Phones Contain Original Owner’s Data

A recent study finds that more than half of second-hand mobile phones contain personally identifiable information of the previous owner.

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In the Press: MRC Industry Insights Interview with David Montague

David Montague discusses eCommerce payments and risk trends while interviewed by the Merchant Risk Council for their Industry Insights publication.

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EMV, Chip & PIN Going Around the U.S.

Chip and PIN cards continue to spread in seemingly every region except the United States. Fed up with lack of adoption of EMV in the U.S., the European Payments Council is weaning off the magnetic stripe, with or without the United States.

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