Saturday , November 9, 2024

Search Results for: high risk merchants

As Signature EMV Draws Merchants’ Ire, Industry Opinion May Be on Their Side

Merchants, in their argument for PIN rather than signature authentication for EMV chip card transactions, may have industry opinion on their side. According to an informal poll conducted this week by Digital Transactions News, two-thirds of readers agree that the merchants suing the card networks over the issue have a …

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Risky Business

Courting and retaining high-risk merchants can yield high returns. But it’s a lot of work. It’s no simple task, but one that can yield enviable returns. Finding the profit in high-risk merchants requires diligence, a knack for customer service, and a commitment to thoroughness. It also requires deep knowledge of …

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Rash of Breaches Bedevils Merchants With a Fast-Rising Rate of Fraud, Lexis-Nexis Finds

Retailers are contending with a markedly higher level of fraud this year than they did in 2015, with the fraud rate increasing from 1.32% of revenue to 1.47%, finds the 2016 LexisNexis True Cost of Fraud study. Last year marked the first time the rate was greater than 1%. When …

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As the Risk of Online Fraud Rises, the Air-Travel Industry Wrestles With 3-D Secure

By John Stewart   These days, the airline and air-travel industry finds itself squeezed between two imperatives that have come into sharp focus in recent months. With high average tickets, airlines must guard against fraud at a time when the spread of EMV chip cards is pushing more criminals into …

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Now That the Big Risk Shift Has Taken Place, Get Set for EMV Non-Compliance Fees

Now that merchant acquirers, and, by extension, merchants, are liable for certain kinds of fraud losses if the merchants aren’t prepared for EMV chip cards, acquirers are starting to put in place EMV non-compliance fees to cover their new risk exposure. One of the first to move on this is …

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As Criminals Redouble Their Efforts, Merchants Sustain an Eye-Popping Jump in Fraud

Merchants contend with fraud all the time, but the 2015 edition of the LexisNexis True Cost of Fraud study has found that their fraud costs are tallying 1.32% of revenue in 2015, a whopping 94% increase from the 0.68% rate in 2014. All categories of merchants in the LexisNexis Risk …

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Only 27% of Merchants Are EMV Ready, but a Surge May Be Coming

Expectations of easily getting merchants ready to accept EMV credit and debit cards appear to be misaligned with the reality of the terminalization program. That’s one finding from a survey released Thursday by The Strawhecker Group, an Omaha, Neb.-based payments consultancy. To accept EMV chip cards, merchants must have compatible …

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Juggling Risk And Faster Payments

In the push to speed up settlement, banks must take care not to lose sight of the implications for fraud, compliance, and consumer satisfaction. In a world where there is almost nothing that cannot be done directly from a smart phone, there is a growing expectation among consumers for immediacy. …

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10 Tips for Selling Small Merchants on EMV

  Many small merchants have no clue about EMV, and among those that do, many are unpersuaded. Here are some ideas to overcome those—and many other—hurdles before and after the liability shift. Inertia can work with you or against you. When it comes to persuading smaller merchants to adopt EMV-compatible …

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EMV for Small Merchants Is a Hard Sell, But It’s Easier With The Right Approach

Selling payments services to small merchants is never easy. Now, throw in EMV and its attendant complications, add in merchant ignorance of the technology, and the sales pitch gets more complex. With the impending liability shift set for Oct. 1, independent sales organizations, acquirers, processors, and banks are scrambling to …

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