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In this article, well look at the first one – how AI can help save your business money through debitcard interchange optimization. Debit Routing Background The Durbin Amendment and PIN Debit Routing Choosing DebitNetworks AI for Debit Routing Which processors offer AI debit routing optimization?
The data of 4 million breached debit and credit cards was even posted for sale in late 2019, stolen from four restaurant chains between April and September 2019, and recently made available for purchase on Joker’s Stash, an online black market. A Big-Picture Approach To Thwarting Debit Fraud.
Major worldwide credit cardnetworks turned their attention to the debit market in the 2000s, however, and acquired PIN networks to gain footholds in the growing space. These larger operators sometimes made deals with cardissuers, under which the latter would agree to only route payments over the former’s networks.
A consumer using a chip and signature card will sign for the purchase. The signature is compared with the one on the back of the card or with the signature stored in the cardissuer’s system. If the signatures matches, the transaction is typically approved.
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