If a cashier needs to call into a card issuer for an authorization, do not take the number from the customer. As reported in the Hattiesburg American, a cashier recently fell for a variation in this old scam, after a pair of fraudsters indicated...
If a cashier needs to call into a card issuer for an authorization, do not take the number from the customer. As reported in the Hattiesburg American, a cashier recently fell for a variation in this old scam, after a pair of fraudsters indicated...
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...
Merchants have always been concerned with undeserved chargebacks. Sometimes, a customer does not remember making a purchase, or does not recognize the name of a business on a charge card statement. Delivery problems or lost packages can also initiate a dispute of a charge...
Wireless credit card processing provides one of the most advanced and convenient ways for restaurants to process credit card payments. Credit card fraud and identity theft have grown into a major problem for merchants and their customers. Restaurant waitstaff equipped with portable, wireless credit...
Refining a process to be more efficient is a goal of almost all endeavors. From the ordered brilliance of McDonalds food production process to saving time doing household chores, saving time by refining small steps can influence the greater whole. Recently, the idea of...
Acquirer The financial institution that establishes and maintains the merchant’s account. Address verification service (AVS) A service that verifies the numbers in the cardholder’s address. One method of reducing fraud risk. Authorization The process of verifying an account and the availability of credit. Average...
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...