1:00 PM UPDATE - The issue we were experiencing with debit cards has now been resolved. We are currently working to resolve an issue that may be impacting your Debit Mastercard card. We apologize for the inconvenience and thank you for your patience.
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Growing top line sales and bottom line profit for CEOs, PE/VC, Owners, and Founders | ROI-based Marketing | Growth Strategist | Fractional Chief Marketing Officer
ISO credit cards with better service? Mastercard cancels your card after fraudulent activity (good), leaving you with no card for 4 days, their idea of "rush". Who can go without a credit card for 4 days? #Mastercard #customerservice #creditcards
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Daily InfoPost 🔆 #4 credit card | بطاقة الإئتمان credit card is a small plastic card used for payment and purchase operations. Banks or companies sets a maximum limit on the amount of money that can be used on the card. The credit card differs from a debit card in that the amount of money paid is not deducted directly from the bank account, but rather from the amount of money credited by the providing company. user can pay the full amount of money owed or in parts with bank interest. In 1920, some American companies issued these cards to facilitate the payment process. Among the most famous credit cards in the world are Visa, MasterCard, and EuroCard. The credit card bears the name and account number of its owner. Now lets see the Content of the front side of a credit card, it’s usually contents: -The logo of the bank -EMV chip (only on “smart cards”) -hologram -card number -Logo of the network operating the card -Expiration date -Name of the card holder In the side of the contact chip on the back of a credit card you’ll find a: -Magnetic tape -Signature bar -Card security code
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What is the difference between debit and credit cards? You are liable for no more than $50 of fraudulent charges with a credit card. They are safer in high-risk situations like online shopping and provide extra benefits for travel and theft coverage. However, they can negatively or positively affect your credit. Debit cards, conversely, are harder to dispute charges and typically have little to no benefits. But debit cards do not affect your credit. #wealthstrategies #financialplanning #ascendplanning
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Paying on behalf of clients isn’t as simple as you think. Make sure you have systems and software designed to support and safeguard you, and your clients.
Did you know that if your money is misused after you hand your card out to someone, you're not protected by VISA and Mastercard's terms of service? Handing out your card might be easy, but you're not protected when you do
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Senior Fintech & Payments Product Leader | Expert in Global Payment Strategy, Compliance, and Product Development
Are you staring at your payment results and an increasing pool of "Do Not Honor" responses? Best practise suggests that you treat Do Not Honor the same as your most common non NSF code but there are other things you can do. If it's a Mastercard, obviously check the MAC as well. If it's a Do Not Retry then you can assume lifecycle or a security/fraud event and a deeper look in to their account is needed. If it's Retry Later, follow the time provided. It may have been a temporary block or Mastercard's systems think there's another reason it will approve in future. Look at the history of the cards. Have they previously approved and now started declining? Does it centre around one or few BINs? Has your mix of response codes started to change? Have your billing schedules changed? Have you implemented new MIDs or acquirers? Finally, if you're a big enough merchant, you can use professional services available from the schemes to understand how their systems are grading the transaction - the issuers use this to assist in transaction processing.
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Quick couple of minute overview of chargebacks that you can share with your teams, sales team, and really start from a simple place. Nicely done, House of Fraud!
1 minute chargeback masterclass: • Chargebacks protect cardholders from fraudulent activity and dishonest businesses. • Process where a cardholder can get their money back directly from the issuer after disputing a charge. • Unlike refunds, chargebacks have nonreversible fees. • Card networks - think Visa, MasterCard, etc - have their own chargeback reason codes. • Networks have monitoring programs to incentivize merchants to keep their chargeback rates low. • Programs can lead to fees, tedious documentation, and in worst case scenarios network exclusion Congrats! You've taken the first step to understanding chargebacks.
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“We need to fight every chargeback otherwise we’ll be losing money!” Yes and no. While you definitely SHOULD be fighting chargebacks, the process of actual gathering evidence, preparing PDFs for banks, etc… should be automated. Better yet, don’t even let disputes turn into chargebacks in the first place. What I mean by that: Mastercard and Visa sell alerts that will notify you (or your chargeback management service provider) when a customer disputes a payment. In that case, you can refund the customer BEFORE the dispute turns into a chargeback which will save you 90% of chargebacks. That’s a lot, right? So if you want these alerts set up, DM me and I’ll show you exactly how to do it.
