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Did you know that the typical business will only hear from around 4 percent of their unsatisfied customers? That leaves the remaining 96 percent with the potential to file a chargeback against a merchant’s business, negatively impacting their bottom line. The ability to maintain positive cash flow is one …
Read More »Search Results for: chargebacks
Fraud-Control Expenses and Chargebacks Consume More of Merchants’ Revenues
Fraud-related expenses for merchants are rising as a percentage of revenues, and merchants now spend 10 times as much preventing fraud as they lose to chargebacks, according to new findings from Javelin Strategy & Research. Pleasanton, Calif.-based Javelin says its June study of 497 e-commerce merchants found that merchants in …
Read More »Chargebacks Tied to EMV Transition and other Digital Transactions News briefs
• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards. • A survey from Vesta Corp. found that 62% of 155 …
Read More »An Epidemic of Card Testing Floods Merchants With Chargebacks And False Positives
Criminals purchasing stolen credit card data know they have a short window of opportunity to cash in before the accounts are shut down. Manually sifting through the hundreds, even thousands, of accounts bought in bulk can take more time than criminals have, which is why they are increasingly relying on …
Read More »EMV, Chargebacks, And Security Are Top Three Payments Challenges for Retailers
By Kevin Woodward@DTPaymentNews No bones about it, adding EMV payment card acceptance to point-of-sale systems has been a challenge for retailers. Seventy-six percent of them, in the inaugural “State of Retail Payments 2016” study, said EMV implementation was their top challenge in the past 12 months. Other top challenges from …
Read More »MasterCard Joins Visa in Easing EMV Testing And Chargebacks for Merchants
MasterCard Inc. on Monday is releasing a new policy aimed at speeding the testing and certification of EMV chip card terminals at U.S. merchant locations. The policy change, which the Purchase, N.Y.-based network says will cut test time to a few hours from as much as a couple of weeks, …
Read More »How EMV-Related Chargebacks Drove Florida Merchant Duo to Sue Networks And Issuers
The Florida merchants that sued all the major card networks and eight of the 10 largest bank issuers last month saw no other way to deal with the flood of chargebacks they incurred after the EMV liability shift, according to a top executive with one of the merchants and an …
Read More »Will Chargebacks Convert EMV Holdouts?
EMV-related chargebacks are coming home to roost, and there’s nothing like an unexpected chargeback to turn a recalcitrant merchant into an EMV believer. According to survey results from Javelin Strategy and Research, only 8% of small and so-called micro businesses queried in February that didn’t accept EMV chip cards cited …
Read More »Just How Bad Are EMV Chargebacks, Any Way?
Speaking of chargebacks, merchant acquirers are indeed reporting more of them now that the U.S. conversion to the EMV chip card standard is under way, but chargeback exposure varies widely by acquirer. And, so far at least, relatively few of the chargebacks are translating into actual financial losses. That’s the …
Read More »COMMENTARY: The Best Defense Against Chargebacks? Good Data
The U.S. payments industry is keeping a watchful eye on friendly-fraud chargebacks now that the EMV liability shift is in effect. According to software enterprise CA Technologies, global card-not-present fraud by 2018 will be at least double the $2.9 billion logged in 2014. Fraudulent chargebacks, always a risk for sellers, …
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