article thumbnail

Payment Processing for Small Businesses: What They Don’t Tell You

Clearly Payments

The Issuing Bank The customers bank, called the issuing bank , which authorizes or declines transactions. Implement Fraud Prevention Tools Address Verification Systems (AVS) and 3D Secure can reduce fraud risk. The Payment Processor The company that facilitates transactions.

article thumbnail

What are Payment Reversals? Why Do They Happen & How Can Merchants Stop Them?

Fi911

The most common types include chargebacks, refunds, and authorization reversals. Authorization Issues : Transactions that are not properly authorized can be subject to reversal. As explained above, the three key forms of payment reversals are authorization reversals, refunds, and chargebacks. What is a Refund?

Payer 104
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Accepting Online Payments with Internet Merchant Accounts

EBizCharge

Transaction settlement: After a payment is authorized, the merchant account facilitates the settlement process. Features like Address Verification Systems (AVs), Card Verification Value (CVV) checks, and encryption protocols protect sensitive customer data and minimize chargebacks.

article thumbnail

A Complete Guide to Securely Process Credit Cards in Sage 100

EBizCharge

Fraud prevention measures: Sage credit card processing supports various fraud protection tools, such as Address Verification System (AVS) , VCC verification, and transaction monitoring. It allows businesses to enforce user permissions within the system, reducing the risk of internal security threats.

article thumbnail

How to Win Chargeback Disputes

Clearly Payments

Here are some of the most frequent causes of chargebacks: Fraudulent Transactions: Unauthorized Use: This occurs when a cardholder claims they did not authorize the transaction. Technical Issues: Expired Authorization: The authorization for the transaction expired before the transaction was completed, leading to a dispute.

article thumbnail

Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Address Verification Service (AVS) A fraud prevention tool that checks the billing address provided by the cardholder against the address on file with the card issuer. Authorization The process of verifying that a transaction can be approved and funds are available for the transaction.

Process 52
article thumbnail

Deep Dive: Why Friendly Fraud Is Anything But Friendly

PYMNTS

Card Verification Value (CVV2) codes cannot be stored on restaurants’ systems and are therefore far less likely to fall into the wrong hands. An address verification system (AVS) that matches credit card billing addresses to those filed with banks is another means of prevention.