Authorize.net, the most popular payment gateway provider, announced that it saw a spike in fraudulent transactions pass through its systems this past weekend. The transactions, which ranged from $500 – $700, were billed to all major credit cards for users across the country. All of the fraudulent transactions were processed through web hosting companies that [...]
Address Verification (AVS for short) is a service that verifies the cardholder’s billing address in order to combat fraud in mail order/telephone order transactions (see the merchant account glossary). AVS is required on all non-swiped Visa and MasterCard transactions. How AVS works is simple, when a merchant key enters a credit card sale into their [...]
From CNet News A popular software that retailers use to control debit-card transactions may inadvertently store sensitive customer information, including PIN codes, says Visa. Two versions of cash-register software made by Fujitsu Transaction Solutions are under scrutiny, according to a warning Visa issued to the companies that process card transactions for some of the nation’s [...]
In what seems like an annual ritual, Visa and MasterCard have raised rates effective April 1st, 2024 . Visa made relatively few changes to their Interchange levels. Only a few minor increases to several corporate card categories were made. On the other hand, MasterCard made many changes to key Interchange categories. This includes their Merit III [...]
In an effort to encourage more participation in its SecureCode program, MasterCard is reducing its Interchange rates for online sales that are transacted with the program. Merchants can lower their transaction costs by as much as 59 basis points with SecureCode and by as much as 10 basis points with Verified by Visa which is [...]
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