When I first began my career I had the belief that card present transactions did not grant issuers chargeback rights. However, as time went on, I discovered that they do have these rights and one crucial indicator is known as the Cardholder ID Method. What is the Cardholder ID Method? So what is the Cardholder …
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Have you ever thought about what happens when you use your credit or debit card (please refer here about how card transaction works) to purchase a restaurant or store? In this blog post, we will explain the concept of a point of sale (POS) transaction and how it works, shedding light on an aspect of …
Read more “Transactions at Point of Sale (POS): A Simple Guide”
Have you ever been curious about what goes on behind the scenes when it comes to your credit card transactions and who benefits from them? One crucial piece of this puzzle is known as the “interchange fee.” In this blog post we’ll explore interchange fees, how they function and provide an example of how a …
Read more “Interchange Fee: Why and Where Your Card Money Goes”
The importance of security cannot be overstated in the changing realm of payments. One crucial aspect of protecting against account takeovers is the account age. This article will explore the advantages of having an established account. How it serves as a defense mechanism benefiting both institutions and their customers. Understanding The Account Age In terms …
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There is a phrase that has special meaning in the world of financial transactions: force post transactions (sometimes also refer as force sale transactions). This article will explain Force Post, explain how it operates, the different types and how to recover from the issuer’s point of view. To make this complicated idea easier to understand, …
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One fundamental idea stands out as crucial in the complicated field of fraud prevention: velocity management. Consider it as the solid foundation on which the castle of fraud control is constructed. In this article, we’ll clearly and simply explain the idea of velocity control and why it’s so important for preventing fraud. What is The …
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Understanding how the Automated Clearing House (ACH) system functions, in today’s banking and commerce landscape is akin to learning a language. Electronic cash transfers enable operations like payroll, bill payments and various other transactions. In this blog, we will embark on a journey into the world of ACH transactions. Elucidate the roles played by key …
Read more “A Journey Through ACH Transaction Magic: From ODFI to Merchant”
Let us dive into the world of “Buy Now Pay Later” (BNPL) an innovative payment method that is revolutionizing the way consumers shop. Understanding BNPL as a merchant goes beyond being an option; it’s an opportunity to grow your company. In this article, we will explore what BNPL entails how it functions and its potential …
Read more “Flexibility Meets Profits: What Is Buy Now Pay Later?”
Have you ever wondered why your bank or credit card statement includes a series of numbers (like MCC;3174) when you make a transaction? These numbers are known as MCC codes. They play a role in categorizing transactions for various purposes. Today we will demystify the concept of MCC codes simplify it and explain how they …
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Card transactions have become increasingly common in our lives as our reliance, on digital convenience grows. If you’re ordering a device online or subscribing to a service chances are you’ll make a Card Not Present (CNP) transaction. These transactions occur when you don’t physically swipe, insert, or tap your card and recent modifications to Reg …
Read more “Reg II: Breathing New Life into Card Transactions”