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Chargebacks: A Survival Guide

Cardfellow

The burden of proof to show that a customer has been rightfully charged falls on you, and when consumers successfully dispute charges, you lose both the product sold and the revenue from that sale. Even when a dispute is unsuccessful, the acquiring bank will withhold payment for any chargebacks until the matter is resolved.

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Everything You Need to Know About Credit Card Processing

Stax

This means you’ll be able to accept chip cards as well as contactless payment methods like contactless cards and digital wallets like Google Pay or Apple Pay. EMV Compliance Most businesses are aware by now that EMV is the chip card technology that has been rolling out across the USA over the past few years.

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The Ultimate Guide to Accepting Credit Card Payments

Stax

Essentially, swiping, dipping, and tapping are the three ways that customers can make in-person payments with a credit or debit card. Swiping, of course, is the oldest of the three methods and is used with a card that has a magnetic stripe (or magstripe) on it. That adds an extra layer of security.

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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Chargeback Fee A fee charged when a customer disputes a charge. Bank Accounts & Settlements Merchant Account A special account used to receive card payments. AVS (Address Verification System) Verifies the billing address matches the card. CVV (Card Verification Value) The 3-digit number on the back of a card.

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Card Security Is the Real Loser in the Visa-Walmart Dispute

Payments Source

The fight between Visa and Walmart over authenticating chip cards could have a negative outcome for everyone involved, regardless of which side wins.

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Chargebacks Have Merchants Scared Straight (To EMV)

PYMNTS

The EMV certification process is a confusing one to say the least – with merchants having to decide between a myriad of choices and certification methods to figure out the type(s) of certification(s) needed to actually accept EMV-enabled chip cards and to then face the long lines of other merchants doing the same.

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Amex Gives Merchants EMV Chargeback Break

PYMNTS

Under these new policies, the card issuer, instead of the merchant, will cover the liability for the additional counterfeit fraud transaction disputed from a card account after those 10 chargebacks. But it’s worth noting that this limit does not prohibit a cardmember from disputing more fraudulent transactions.

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