Why Merchant Account Important for Online Timeshares Business

Timeshares business offers various types of packages, vacation rentals, and airfares. It is considered a high risking business because credit card processing is high traffic. The transactions also occur via phone and internet, and customers complain about services a lot. It takes a lot of time from booking to receiving, and because of it, disputes are common. A few years back, timeshares merchants weren’t offered credit card processing because of frequent cancellations and refunds. Now merchant account providers are able to take the risk, but travel and related business must keep terms and conditions clear.

Credit card fees and charges

There are various fees associated with transactions, mostly depend on the customer’s card and type of transaction. Cards such as American Express, debit, credit card, and type of business are the key factors. Banks don’t want chargebacks because these cost money so they monitor timeshares business closely. Merchants must check best processing rates and look for an online merchant account that offers high processing limit. Those timeshares businesses with a chargeback rate of more than 1% are denied accounts. You should look for the merchant account that offers tools to reduce the risk of chargebacks.

Trustworthy Merchant account provider

Timeshares business should seek a merchant account that is trustworthy and offer the best rates. There are many strategies that can help you lower chargebacks. Effective sales and marketing methods, direct processing, and keeping records can reduce the risk.

Merchant stronghold is familiar with many credit card processors and scenarios. We offer low rates to our timeshares business owners so that they can process credit cards without having to follow the bank to bank approval. We can help you by finding credit card processors best suited for your terms, conditions, and rates. Before providing you services, we inform you of the advantages and disadvantages so that you are aware of possible risks and benefits. We work with businesses and individuals so that they can get the best solution. Merchant stronghold provides education so that you are satisfied with the outcome.

Real Time MasterCard Account Updater Service Globally Launch By Adyen

NEWS PROVIDED BY - Adyen

Adyen the payments platform of choice for many of the world's leading companies, today announced its direct API integration with the Mastercard® Account Updater service. Qualified merchants processing with Adyen globally can now increase revenue from card-on-file payments by automatical ly updating Mastercard accounts in real time.

"The subscription economy is experiencing massive growth, with 100% increase year-over-year for the last five years1. Beyond digital services, Adyen is seeing a strong uptake in physical products like cosmetics, fashion and bicycles now offered as a subscription service. Payments are a critical touchpoint for ensuring uninterrupted service for customers and sustained revenue for merchants," said Roelant Prins, the chief commercial officer at Adyen. "Adyen, together with Mastercard's Account Updater, is focused on making the highest number of payments succeed by automatically updating card data at the point of transaction, preventing involuntary card declines due to expired or replaced cards."

The direct API connection helps to prevent card declines due to account changes caused by expiration dates or new replacement card numbers, among other reasons. Microsoft and Twitter are among Adyen's merchants using the Mastercard Account Updater service.

Adyen's use of the Mastercard Account Updater API can be activated instantly with no merchant integration required. Adyen also provides merchants extensive live performance data including authorization rate impact by issuing bank and decline code. 

"Today's consumers have their card information stored at multiple online stores and in the event, the card gets replaced, it is an inconvenience to remember and update the card details at all the stores," said Johan Gerber, executive vice president of security and decision products at Mastercard. "As the first payments platform to use our Account Updater API, Adyen is giving merchants a powerful tool to provide a better, seamless consumer shopping experience by automatically updating the details."

Adyen is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Netflix, Spotify, Casper, Bonobos and L'Oreal.
Also, Read - Merchant Account - Payment Gateway 

Thieves & Friendly Fraud Can Easily Use Information Of Your Credit Card

Understanding the Friendly Fraud

Card not present (CNP) credit and debit card transactions provide the perfect environment for what’s commonly referred to as friendly fraud.

A CNP transaction as a payment card transaction where the cardholder does not or cannot physically present the card for a merchant’s visual examination. At the time of order delivery and payment. Such as for mail-ordering transactions by mail or fax, or over the telephone or internet.

Therefore, friendly fraud occurs when a consumer makes an online shopping purchase with their own credit card and then requests a chargeback from the issuing bank after receiving the goods or services.

Categories of Friendly Fraud

INTENTIONAL FRIENDLY FRAUD

The deliberates falsification of facts by a consumer which is intended to deceive a merchant.

Reasons for intentional friendly fraud may have to do with buyer’s remorse. Perhaps the buyer has an impulse purchase for an amount that exceeds their comfort level or their financial circumstances. Suddenly changes take place. And, they wish they can get back money or maybe, their spouse doesn’t approve of the purchase.

Then, there are fraudsters who commit online shoplifting by buying merchandise online and then disputing the transaction after the merchandise reach home. In this way, they can enjoy the merchandise for free, just like shoplifters at brick-and-mortar stores.

Thieves Use Your Credit Card

It’s an open secret how easy it is that anyone, with just a few dollars, can buy valid and stolen credit card information on the internet... and law enforcement and banks are doing little to stop it, say security experts.

It’s estimated there were nearly 1,500 credit breaches in 2017.
Equifax admitted to having the credit information of 143 million people exposed to hackers and the theft of 209,000 credit card numbers.

Some of the stolen information winds up on 'carding' websites that sell everything needed to use the credit card online or the magnetic strip of information on a credit card.

One website operating with an IP address in Eastern Europe has been operating for at least four years in plain view of law enforcement, and the banks that underwrite the credit cards.

The site, which we will not name, has a sophisticated search engine that lets users find cards by type: Visa, Mastercard, American Express, Gold, Platinum and Chairman’s; by the issuing bank, debit or credit and possibly most important, ZIP code of the card’s owner.

Thieves know if a stolen credit card is used for moderate amounts in the same zip code as the card's owner, it’s less likely to be immediately flagged for fraud.
And many of the sites offer what’s called a checker. Once the stolen information is purchased, mostly like with a cryptocurrency like bitcoin, the buyer can run the information through a check to see if the card numbers are still valid.

Online Credit Card Payment Processing Services for Your Business

Online Payment Gateway

Our virtual gateways can make credit card processing money saving, which means your business pay less amount to process transactions. Merchant stronghold makes sure that every transaction is secure. In order to provide better direct marketing gateways, we have set ourselves apart from our competition. We offer services that are tailored for your business – A glimpse of our methods:

Safe and Secure Processing: All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure.

Customer Support: The first thing that any business should focus upon is better customer support. Our team is available to help you deal with any payment issue. You can contact us and discuss issues and they will be resolve timely so that your direct marketing business thrives.
eChecks: Gateway allows you to accept echecks too! Accept Credit Cards and eChecks in the same Gateway.

Flexible Settlement Times: The business can customize or set a certain time for the transactions to be batched out and be sent out for settlement.

Multiple User Access: Our direct marketing credit card processing gateways give users multiple options. Your customers get email receipts at the time of processing. This ensures that transaction is authentic and quick. All the records are kept for future references.


ISpyFraud Technology: ISpyFraud Technology helps to monitor and capture customers IP address at the time of the transaction. Geo Locations and IP Address helps reduce online fraud and is the first choice for a direct marketing business when it comes to accepting credit cards. Don’t let your merchant face the risks of accepting payments without adequate protection. Get in touch with our to learn more about how to help your customers guard against fraudulent transactions.

If many of your transactions are face to face, then you are not providing enough options to your customers. We can offer your customers easy and reliable options that will suit their payment method. Ever transactions made through our systems will be safe and your customers will get notification of their recent transaction. What is the best part in all this? You are paying less money and getting premium credit card processing gateway.

How to sign up for getting your merchant account? 

It is quick and easy! Start an online application or call one of our merchant specialists will walk you through the process. We offer various services, and based on your requirement, we will provide a payment solution that will best suite your direct marketing business.

How to Release Overcome the Difficulties of Payment Gateway for Collections Account?

Virtual market is growing at a rapid speed; with this kind of boom it has become essential for every online merchant (small business or large scale business) to accept payment in multiple ways according to its customer’s convenience. To open such an account, which can accept payment by credit card as well as debit card is not easy. No matter how good your business is doing, you might still end up struggling to get a merchant account opened. High-risk credit card processing is the option you can opt for if you are not able to find a merchant service provider for your business.

High-risk merchant/business: You might think that why your business is categorized as high-risk even when you are following the right track. The reason is the target audience and the niche of your business. Some of the high-risk industries are:

• E-commerce stores
• Website dealing with digital content and steaming
• Travel and transport companies
• Companies dealing in multi level marketing and direct sales
• Adult and dating websites
• Loan and financial businesses
• Companies providing supplements
• Crypto-currency
• Companies selling custom made products
• Fast growing companies

Other reasons for being categorized as a high-risk business can be excessive number of chargebacks, bad credit record, selling goods with high value, products open to the risk of fraud or a subscription based business. These are the factors that make it difficult for you to get a merchant account and to be able to accept online payments from debit or credit card, with a merchant service provider. Without merchant account you will stand nowhere and will lose to the competitors.

Right Merchant Service Provider

If your business is categorized as high-risk, that does not necessarily mean that your company has to suffer. If your business is promising but this only limitation is not letting your business grow, all you have to do is find a right merchant service provider that is willing to offer you the suitable services. The companies who provide services to high-risk merchants are called high risk merchant service providers.

Setup a collection account

Setting up a merchant account to handle high-risk has become easier with time and is a straightforward procedure. It might also be free of cost if you are using a reputable company. To get the account opened, all you have to do is fill an application form and submit the required paperwork. If you are new in the industry and have a strong business model and well capitalized, you don’t have to struggle a lot to find the right merchant account provider for your business.

Get more information visit website – https://www.merchantstronghold.com/

Various Reasons for Declination of Application for Credit Card Processing

Let’s now discuss various possible reasons for declination of application for credit card processing :

Age: Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age. Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age.

Incomplete application form: If you have not filled the application form completely or correctly, your application will be declined. So it is better to apply for credit card processing online as it will not submit your request until and unless all the fields are properly filled.

Loan balance: If you want to apply for credit card processing, make sure that you pay your loan balance regularly if any. When you apply for credit card processing, your credit history is checked and if it is negative, the bank or the processor will hesitate to accept your request to avoid risk.

Healthy credit balance: It is good practice to keep your credit balance healthy. In other words, you should only use a portion of the credit available instead of using it to the fullest. Healthier the credit card score more are the chances of approval.

Inquiries on credit report: It is advisable not to apply for many credit cards or credit cards processing, especially in short span of time; this may lead to declining of application. Lesser is your credit inquiries; better are the chances of getting your next approval when you would apply.

Low income: Very common factor of declination of application is income of the applicant. Minimum income required for application varies by Banks and Processor, and if the applicant fails to match the minimum income requirement (although this requirement is not published), his/her application can get denied. So before applying for credit card processing, get an idea about minimum income required.

Negative Processing History: Another reason for credit card application denial can be the number of credit cards processing account used by the applicant that have negative Statement. If there are accounts closed due to high Chargeback it can cause a problem in getting approval for a credit card processing.

TMF or Match list: If you are placed on Match list or identified as a TMF merchant it would be a big reason for not getting approval for your Credit Card Processing Account.

Don’t fulfill minimum requirement: your request will be declined if you do not fulfill minimum requirement like you don’t have an SSL secure and PCI compliant website. Or you have been suspended by any card brand processor, or any Data compromise investigations was there for you and your business.

As a conclusion, you need to make Sure before applying for a credit card processing and get prepared, you choose a payment service or merchant service provider who can proactively help you with this.

How to Secure your Business Against Chargebacks?

Chargeback happens when a customer after purchasing a product, contact to his/her card issuer to dispute the charges. In simple words, when a customer purchases a product and due to some reason disputes a charge with his/her bank, the money is returned to that customer as well as he/she gets to keep the product. But the bank charges the business owner, from whom the product was purchased. This payment, which the business owner gets to pay to the bank, is called the chargeback.

Here are few tips that can help you prevent chargeback and minimize the time and money spent while dealing with it. Being business owner you should understand that disputes could be considered valid due to many reasons. Customer may dispute charges if:

• A hacker using the customer’s identity made the purchase illegally.
• The wrong item was received.
• The product was adulterated
• The customer does not recognize the charge on his credit card statement.
• The customer was billed incorrectly.

Let us now discuss about few tips which can help you in preventing chargeback.

Declined authorization: If the authorization request is declined once, do not go ahead with that particular transaction instead ask customers to opt for different payment method. Also, keep in mind not to request multiple authorizations for a particular transaction.

Authorization code: There will be cases when word “Call” is displayed on your terminal while authorization is being checked. At this point call the credit card company right away. The representative will ask you a few questions and may speak to its customer as well. After that he/she may or may not provide you with authorization code. If authorization code is provided, record it else request the customer to try a different card.

System not working: There can be cases where system is not functioning properly or the card is worn out. At this point you should key-enter the credit card number, and also remember to make an impression of the card for keeping the record. This is important because a customer’s signature is not enough to protect you from a chargeback.

Gift card: Gift cards are unem bossed cards and there is no way to take a manual imprint of it. In case customer wishes to pay from gift card it is advisable to ask the customer for a different payment method.

Signature: Regardless of the type of the card used for the payment processing, the signature of the cardholder on the receipt is mandatory. This can be used as a proof that the customer made the purchase himself.

Get more information visit website – https://www.merchantstronghold.com/

Open A Secure Merchant Account for Timeshares

Merchant account for Timeshares Business

Timeshares business offers various types of packages, vacation rentals, and airfares. It is considered as high risking business because credit card processing is high trafficked. The transactions also occur via phone and internet, and customers complain about services a lot. It takes a lot of time from booking to receiving, and because of it disputes are common. Few years back, timeshares merchants weren’t offered credit card processing because of frequent cancellations and refunds. Now merchant account providers are able to take the risk, but travel and related business must keep terms and conditions clear.

Credit card fees and charges

There are various fees associated with transactions, mostly depend on customer’s card and type of transaction. Cards such as American Express, debit, credit card, and type of business are the key factors. Banks don’t want chargebacks because these cost money so they monitor timeshares business closely. Merchants must check best processing rates and look for an online merchant account that offers high processing limit. Those timeshares businesses with chargeback rate of more than 1% are denied accounts. You should look for merchant account that offers tools to reduce the risk of chargebacks.

Trustworthy Merchant account provider

Timeshares business should seek a merchant account that is trustworthy and offer best rates. There are many strategies that can help you lower chargebacks. Effective sales and marketing methods, direct processing, and keeping records can reduce the risk.

Merchant stronghold is familiar with many credit card processors and scenarios. We offer low rates to our timeshares business owners so that they can process credit cards without having to follow bank to bank approval. We can help you by finding credit card processors best suited for your terms, conditions, and rates. Before providing you services, we inform you of advantages and disadvantages so that you are aware of possible risks and benefits. We work with businesses and individuals so that they can get the best solution. Merchant stronghold provides education so that you are satisfied with the outcome.

High Risk Credit Card Processing for Hardware Stores Business

Mаnу hаrdwаrе stores have specialty dераrtmеntѕ uniԛuе tо its rеgiоn оr itѕ оwnеr’ѕ intеrеѕtѕ. Thеѕе dераrtmеntѕ inсludе hunting аnd fiѕhing ѕuррliеѕ, plants and nurѕеrу рrоduсtѕ, mаrinе аnd boating supplies, pet fооd and ѕuррliеѕ, fаrm аnd rаnсh ѕuррliеѕ inсluding аnimаl feed, ѕwimming pool сhеmiсаlѕ, hоmеbrеwing ѕuррliеѕ and canning ѕuррliеѕ.

Pоint-оf-ѕаlе system fоr Hаrdwаrе ѕtоrеѕ

Evеn thе ѕmаllеѕt hаrdwаrе ѕtоrе саn benefit from a point of ѕаlе system bесаuѕе it hеlрѕ аutоmаtе virtually еvеrу раrt of thе high-risk buѕinеѕѕ. A POS ѕуѕtеm for hаrdwаrе ѕtоrеѕ does mоrе thаn сhесkоut customers and рrint rесеiрtѕ: it facilitates virtuаllу every аѕресt of thе business.

Inventory management is a оnе imроrtаnt function of thе hаrdwаrе ѕtоrе POS ѕоftwаrе bесаuѕе it keeps trасk оf every item that iѕ bought аnd ѕоld in rеаl timе. Thiѕ wау, thе business аlwауѕ knоwѕ whаt itеmѕ are in stock, what itеmѕ аrе on order and whаt the соѕt and рriсеѕ аrе for them.

Work flоw is аlѕо ѕimрlifiеd bесаuѕе еmрlоуееѕ no longer hаvе tо check the ѕаlеѕ flооr and bасk rооm tо аnѕwеr сuѕtоmеr inquiries.A POS system for hаrdwаrе stores can also hеlр уоur hаrdwаrе store mаnаgе еmрlоуееѕ. Frоm ѕсhеduling tо time trасking, ѕuсh a system, mаkеѕ it еаѕу tо еnѕurе proper staffing lеvеlѕ at аll timе аnd tо ассurаtеlу trасk hоurlу еmрlоуееѕ аѕ wеll as wоrk hаbitѕ ѕuсh as timеlinеѕѕ.

Finally, a POS ѕуѕtеm fоr hardware stores рrоvidеѕ mаnаgеmеnt with all the rероrtѕ thеу nееd to mаkе imроrtаnt business decisions. Sаlеѕ figurеѕ, рrоfitаbilitу, рurсhаѕing аnd оthеr reports аrе ԛuiсklу рrоduсеd, mаking it еаѕу tо ԛuiсklу рrоduсе ѕnарѕhоtѕ оf еvеrу аѕресt оf thе buѕinеѕѕ.

HERE IЅ A POS ЅОFTWАRЕ WHICH IЅ АBЅОLUTЕLУ FREE FОR УОUR HARDWARE STОRЕЅ

Vеrifоnе VX520 POS has аll thеѕе capabilities аnd much mоrе, which mаkеѕ it an idеаl роint of ѕаlе ѕоlutiоn fоr уоur Hardware Stores.

With Vеrifоnе VX520 POS, items can quickly bе рut intо invеntоrу. Dеtаilѕ ѕuсh аѕ thе рriсе that was paid (cost), date rесеivеd, mаrk-uр, margin, ԛuаntitу, аnd description are all rесоrdеd fоr each itеm. Whеn рrоѕресtivе buуеrѕ hаvе questions, аnу infоrmаtiоn that was entered on thе itеm can bе еаѕilу access juѕt bу ѕсаnning the рrоduсt. Cоmрlеtе rероrtѕ саn be ассеѕѕеd tо review inventory lеvеlѕ, invеntоrу vаluе, ѕаlеѕ hiѕtоrу, or virtually аnу aspect оf invеntоrу аnd ѕаlеѕ information thаt has bееn соnduсtеd оn the ѕtоrе роint оf ѕаlе system.

In a multi-ѕtоrе environment, еасh ѕtоrе lосаtiоn саn have “livе-timе” ассеѕѕ tо invеntоrу infоrmаtiоn frоm ѕtоrе to ѕtоrе. Buуеrѕ that are looking fоr a specific itеm саn be redirected, when thаt itеm iѕ рrеѕеnt аt оnе of уоur оthеr ѕtоrеѕ.

Merchant Account Services for Accept Credit Card Payments

Credit Card Processing Merchant Account

Accept Credit Cards Easy with our MERCHANT ACCOUNT, Fast and Seamless ! If you are already processing , let us beat those rates.
With the state of the art technology, give your customers the edge and grow your business with our Merchant Services and Credit Card Processing Solutions.

Online Payment Gateway

Our customized online Payment Gateway Solutions and Electronic Payment Solutions can help create innovation in sales techniques and an easier user experience for your customers.

Chargeback Management and Fraud Monitoring

Additional coat of protection for your business with Chargeback Management.
Chargeback Prevention Alerts and Fraud Monitoring services to help ensure that your profits stay there and you are safe with your International Payment Solutions.

Offshore Merchant Account

Merchants now can process with one of many Merchant Stronghold global processing solutions and diversify your processing to a whole new level by accepting payments by processing Credit cards/Debit cards/ or E-checks from the customers anywhere , anytime around the globe.

You can get paid for selling your product internationally because you have the direct connection with your customers, and paid directly into your account.

ACH and E-Check Processing Merchant Account

Extend your customers with the option of ACH/E-Check Processing Merchant Account and give them the ability to save a stamp and envelope.
Offer multiple payment options and increase your business’s profitability, as you can accept payments without asking your customers to send the check physically via post, instead have the details and docs signed from them, and accept payment in our Payment Processing System/ Merchant Account.

Retail Merchants- Free Verifone VX 520

EMV Technology enabled POS system with all kinds of safety, Wireless, Solid and Fast Verifone VX 520.
Avail our all-in-one package set to capture client partials at checkout

If you should more information about Merchant Services. You can contact us - +1 (888)-622-6875.

Offshore Credit Card Processing for Beauty Products Business

An advance credit card processing solution that comes with high level of security is what every Beauty Products business needs. Efficiency is important when you are running a business, especially when the business is on small scale and you have to struggle a lot to get to the top. The goal of merchant stronghold is to provide you a flexible payment solution with equipment. Electronic payment solution can fulfill most of your needs; you can customize best rate structure that fits your business. Some of the advanced services that you can expect:

• Mobile processing for the small-scale business
• Terminals for beauty products and retail service business
• Support for payment gateways connected with shopping carts
• Solutions for MOTO card transactions
• Plus credit card payment plans
• Virtual terminal for processing

Modern payment processing

Modern payment processing is integrated merchant account and software. This system is called software as a service (SAAS). It offers a single electronic portal that helps merchants to scan checks and process various credit card payments. This is done without merchant storing the data on the site. A latest cloud-based infrastructure is integrated, means the location of customer doesn’t matter. It also reduces cost and makes whole process time efficient.

Transaction Processing Quality

Payment systems are highly susceptible to abuse and fraud. If a high-risk credit card is misused, there will be financial losses to your Beauty Products business. There will be even more mess if the merchant will solve the problem on its own. Some beauty parlors may have a monthly subscription, SAAS can make money collection easier for merchants. The system also secures payment information that is passed to the merchant. Some businesses come in the scale of high-risk businesses such as male enhancement products business, Nutraceuticals business, Cruise line business, Trial Continuity Subscription Business etc. All of these can be processed with the help of a quality online platform through Merchant Stronghold.

payment processing architecture

The network architecture is an online payment system that is like a chain of service providers having unique value payment transactions. There are four most important entities in an architecture which are merchant, the point of sale (POS), aggregator, and credit card bank. Payment gateway provider is a company that gives support to merchants and receives payments on their behalf. Point of sale provider presents aggregator to the merchant. There are small POS transactions than an aggregator, so the direct connection with credit card network is not necessary. The responsibilities are divided equally among many different business partners in order to provide the better architecture to the merchants. Merchant Stronghold understands these concepts because we have been working in this business from a long time.

Merchant Accounts for Retail Businesses & Online Stores

Ecommerce

It’s all about digital marketing and eCommerce these days. It’s not long we might just speak computer languages in our day to day life. Reports show a 400% increase in online sales. Tech support merchant account, eCommerce, and Internet-based business are high-risk businesses. The boarding process undergoes a series of credit checks and underwriting before a payment gateway is deployed. This is the reason that the E-commerce Merchant has a tough time in finding the solution. It’s due to the fact that Cardholder and the Credit Card is not present at the time of purchase and there can be many reasons that the customer can dispute on the merchant. Friendly Fraud is the hot topic of late and then next big issue is stolen credit cards. Merchant must be PCI compliant and their website should be compliant too. The website must have a SSL Cert and all terms and conditions must be fully disclosed.

Example: Magazine Subscription, Adult Porn Streaming, Supplement Products

MOTO

Mail Orders or Telephone Orders is the next merchant type on the list. Moto Merchant is categorized in the high risk merchant if it’s based on a service type business. Moreover, MOTO only merchant require a few extra steps to obtain a best high-risk merchant account. Merchants must understand and learn the latest PCI compliance guidelines to be safe than sorry. Moto purchases can be dispute with many reason especially fraud, defective goods, wrong size and color, services not provided or merchandise not received etc.

Example: Credit Repair, Tech Support, Law offices, Product based business etc.

categories we see in the 21st Century.Retails

Also known as Brick or Mortar types Merchants, it’s the Retails. They are categorized as low risk business mainly because retail businesses provide high level security to the customer as cardholder is present at the time of purchase. A Consumer can just walk in a store, make a purchase, swipe their credit card and an authorization is obtained. Magnetic strips and now EMV chips are issued on the credit cards. As a merchant, you should retain a signed copy of the transaction receipt. Get more information visit website – www.merchantstronghold.com

PCI Payment Protection Resources for Small Merchants

On Thursday, 4 August 2016, at 10 a.m. Pacific time, Visa will host a webinar to review newly published PCI Security Standards Council resources designed to help small businesses process payments securely.The PCI Security Standards Council convened a small merchant business task force to provide guidance and feedback to prepare resources that simplify data security for some of the most vulnerable businesses preyed upon by cybercriminals. Relying on cross-industry expertise to help small merchants understand why and how to protect payment card data and resolve risks to their businesses the task force has developed the following resources:

• A guide to safe payments
• Payment diagrams
• Questions to ask your vendors
• A glossary of payment and information security terms.

Visa is committed to protecting the payment system. As part of this commitment, Visa regularly posts data security communications on their website.

Visa will host a webinar to review newly published Payment Card Industry (PCI) Security Standards Council resources designed to help small businesses process payments securely. Please click on the link below to register.

Speaker Info

Sylvia Auyeung and Lester Chan

Sylvia Auyeung, Director, Merchant Risk, is responsible for driving PCI DSS compliance with all level merchants in North America. She has over 10 years experience in risk and compliance.

Lester Chan is Director of Merchant Risk at Visa where he is responsible for driving PCI DSS compliance with all level merchants in North America. He has over 20 years experience in IT, security, risk, and compliance. In addition to his experience, he earned a CISSP, CISM, and CISA certifications.

MORE INFORMATION

If you have any questions regarding these resources or need more information on protecting your payment card environment, please contact your Visa Account Executive or acquirer or Merchant Stronghold.

Best Tips to Manage Subscriptions and Recurring Billing

When you launch a system of recurring billing, you’ll quickly amass sensitive customer data you have to keep on file. All information on file should be securely stored and kept up to date.

The Recurring Transactions window appears, displaying all transactions that are scheduled to be executed today. It also displays transactions that were scheduled for days in the past, but have not been executed so far. Don’t try to go cheap on this particular process. It’s vital to invest time, money, and effort to keep your payment system as secure as possible.

In this guide, we outline the Operating Regulations as by Visa as well as other recommended best practices

Transaction Processing

• Include a CVV value in the First Authorization of a New Recurring Transaction and where available check the customer’s billing address by including Address Verification Data (AVS).
• Recurring eCommerce Transactions are highly recommended that merchants utilize Verified by Visa for the initial authentication of a new customer.
• Monitor the decline reasons and dates
• Make sure to include and monitor Expiry Dates of the transactions.

Understanding the RT Process and High-Risk Business Bank Accounts Planning

• Cardholders to choose their preferred billing date, it will help ensure that funds are available.
• Inform the customer of the “Doing Business As” or “Descriptor “name, the name that will publish on the Cardholder’s bank statement. Make sure it’s easily recognizable when billed each incident.
• Merchant Details must be clearly displayed at all time.
• Estimated Delivery Date of goods or services be advised.
• Provide the customer with confirmation that an RT agreement has been entered into.
• Train your sales and customer service staff on the proper procedures for setting up and submitting RTs, as they are particularly customer service sensitive.

The rules that need to be understood and useful guidance when accepting Recurring Transactions This will help ensure merchants and their customers enjoy a simple and efficient payment process, which is clearly understood by them and their customers.

More about learn trial continuity and subscription-based businesses.