After leaving interchange rates mostly unchanged for the past decade, Visa sent a letter to partner banks outlining the coming changes to swipe fees that will roll out in two phases beginning in April then October this year. While high volume supermarkets as well as those with education and real estate merchant category codes (MCCs)
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Visa announced their acquisition of Verifi on June 28th, about three months after MasterCard announced their acquisition of Ethoca. Both organizations offer issuer alert services that notify merchants of potential disputes before they become chargebacks. Visa’s acquisition comes over a year after overhauling their dispute process while MasterCard is in the process of doing the
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Guest Post & Case Study by: J. Carlson, Certified eCommerce Fraud Professional Chargebacks involve quite a few stringent processes and complex procedures. Making sure you provide adequate information when challenging a chargeback dispute is key. One thing that you can do is provide compelling evidence in those cases where the cardholder has claimed Fraud – Card
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Visa Canada published a document titled The Future of Payment Security in Canada, detailing several new requirements related to ensuring security with Visa card transactions, including several new rules and deadlines coming into effect over the next few years. Notably, issuers must eliminate the use of static passwords with Verified by Visa by April 2018,
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At the end of March, MasterCard announced they had entered into an agreement to acquire NuData Security, the behavioral biometric and behavioral monitoring vendor based in Vancouver, Canada, for an undisclosed amount. A pioneer in the behavioral monitoring space, NuData offers MasterCard valuable technology and patents related to performing authentication covertly across all types of
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In the beginning of 2015 EMVCo announced they would be responsible for further developing the 3-Domain Secure 2.0 Specification, taking over for Visa and MasterCard. Now just a few months before the expected release of 3DS 2.0, EMVCo and the Payment Card Industry (PCI) Security Standards Council jointly announced they will be collaborating to support
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Announcements from three of the major card associations in June describe different approaches for reducing merchant liability and losses with counterfeit card fraud through April 2018 as the U.S. transitions to EMV. Visa estimates their changes will lead to 40 percent fewer chargebacks and 15 percent fewer dollars being charged back to merchants related to
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Sarasota, FL, March 15, 2016 / The Fraud Practice, Inc. The Fraud Practice and CardinalCommerce have released the third annual Use of Consumer Authentication in eCommerce white paper, detailing the results of the 2016 Consumer Authentication Survey. Tara Lavelle, VP of Marketing at CardinalCommerce, and Justin McDonald, Sr. Risk Management Consultant with The Fraud Practice,
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After completing a $67 million settlement with Visa in August regarding the high profile data breach Target experienced in late 2013, the company this week announced acceptance of a $39.4 million dollar settlement with MasterCard and issuing banks. Home Depot, who suffered a notable data breach in 2014, also reached a settlement with MasterCard according
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Visa recently released data and figures regarding EMV usage in the first full month of purchases following the October 1st EMV liability shift, adding that they are “extremely encouraged” with the 42 percent increase in chip-on-chip transaction volume and the 49 percent increase in merchant locations that can accept EMV in just one month’s time. The
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