When a merchant processes debit card transactions, there are two major categories that the transaction can be processed in – signature debit and PIN based debit. By opting to allow PIN based debit, the merchant can process faster transactions that are considered to be...
A chargeback occurs when a customer files a complaint with their credit or debit card provider. This usually happens when a consumer sees what they perceive to be fraudulent transactions on their statement, or feel they are being charged for services that were not...
The ACH network is a financial network designed for batch processing of funds. Debits and credits can be automatically processed, resulting in an efficient clearing of funds between participating financial institutions. The use of the ACH network is governed by the NACHA (National Automated...
Just how bad is credit card fraud? According to the Nilson Report, losses due to credit card fraud estimated to be about $3.8 billion worldwide in 2003. And it continues to grow, despite increased awareness and technology in the industry. The problem lies in...