We’ve noticed a resurgence in the popularity for the Overpayment Scam, and if your business advertises its products or services online, be aware, that you could be a target. Also referred to as a Cash Forwarding, or Cash Advance Scam, the con involves fraudsters paying for a purchase with a stolen credit card, then requesting...
As a merchant, you might already be aware of your risk exposure when you accept credit card payments, and hopefully, you’re taking the necessary precautions to alleviate that risk. It can be helpful to understand the different kinds of risks that each entity in a given credit card transaction is exposed to. The credit card...
If your business accepts credit cards, then there may be a time when you have a customer use a credit card that is not rightfully theirs. When customers commit fraud, then your business is exposed to the risk of chargebacks to recoup the lost funds for the customer who was victimized by fraud. By knowing...
What is a chargeback? When you use your credit card as a consumer, you know that you are protected by your bank and the card brand from the fraudulent use of your credit card. Knowing that you’re protected as a consumer can help you feel comfortable using your credit card to make purchases, and that’s...
NFC and EMV both refer to relatively new terms in payments technology. These two have changed the landscape of accepting credit and debit cards for merchants and consumers. But what are they and what is the difference between the two? They have fundamentally changed how a cardholder is able to use their cards to pay...
A relic of a different time. Credit card signatures are now considered an antique way of proving one’s identity, and now major credit card brands are also acknowledging this fact. Signing for a purchase has its roots in the first half of the twentieth century when charge cards were popularized as a form of merchants...
Any germaphobe will tell you that the surfaces of bills and coins have always been gross. And handing your credit card to a cashier who has the sniffles and a hacking cough? Even in pre-pandemic times, also gross. Even in pre-pandemic times, also gross. If you’re looking for a self-improvement task in this pandemic era,...
Get comfortable with contactless payments. The COVID-19 pandemic has led to a huge shift in alternatives in point of sales. Many people are currently adjusting to our “new normal” and as a consequence wont have access to their usual ways of paying. Being educated on payment methods available to us is the first step while...
As contactless payments explode in necessity and popularity, here is your brief overview and everything what you need to know about contactless payments. A recent survey shows that contactless card payments make up 20% of all card-based payments globally. Contactless payments utilize near field communication (NFC) technology to enable communication between two electronic devices. Near...
As more people worry about catching coronavirus from touching cash and credit-card terminals, a onetime niche technology is roaring into the mainstream. Use of contactless mobile payments — services that once struggled to catch on in the U.S. — is surging as people come to see their phones as the safer way to pay. They’re...
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