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What is a BIN in Payment Processing

Clearly Payments

This article provides an overview of what BINs are, how they work, and why they are important in payment processing. Building a Strong Business Case : Acquiring banks will assess the payment processor’s business plan, compliance procedures, and financial stability. What is a Bank Identification Number (BIN)?

Process 104
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The Best Way for a Business to Handle Chargeback Management

Clearly Payments

This article outlines how to structure your chargeback management team, define roles, implement processes, select the right software, and adhere to best practices. Operational Best Practices Standardized Procedures : Develop a chargeback handbook outlining workflows, templates, and escalation protocols.

PCI DSS 59
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The Walls Within: Why Organizations Cling to Data Silos in the Age of AI

Finextra

This article delves into the multifaceted reasons behind this phenomenon, exploring why organizations are choosing to keep their AI contained within the familiar confines of their data silos. Data Governance Frameworks: Establishing clear policies, procedures, and responsibilities for data management and AI development.

AI 59
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Securing Your Wealth: How Cybersecurity Affects Investment Decisions

VISTA InfoSec

This article highlights the need for robust cybersecurity strategies and how these can determine investment decisions. For instance, you can look at the company’s history of data breaches and their responses, the robustness of the cybersecurity infrastructure, and the presence of comprehensive security policies and procedures.

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Guarding the Gates: Data Compliance and Privacy

Segpay

The rise of data privacy concerns has led to a surge in global regulations, such as the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which are drafted to protect peoples individual data protection rights. Non-compliance can lead to severe penalties, up to 4% of a company’s global revenue.

Privacy 105
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Chargeback Rules: What Laws & Regulations Govern the Dispute Process?

Fi911

While it currently affects EU-based merchants, similar regulations, like the California Consumer Privacy Act (CCPA), are being considered in other jurisdictions. General Data Protection Regulation (GDPR) Effective in the EU from 2018, the GDPR imposes strict rules on the usage and storage of cardholder data, emphasizing consumer privacy.

Disputes 105
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AI Merchant Payment Processing: The Battle for a Secure Processor

Segpay

This article dives into the challenges faced by AI companies in search of an AI merchant payment processing service provider and how to overcome this hurdle. As financial institutions, these companies must implement risk management procedures and regulatory compliance to prevent reputational and financial damage.