fraud

In the fall, MasterCard will begin testing biometrics to secure online payments. Customers will be required to hold up their phone and take a picture when completing an online purchase. Various methods of identification will be tested. Director of innovative solutions for combating fraud, Ajay Bhalla,  noted the ensuing generation "is into selfies,"  assuring they will adapt to new technology...

A fraudulent chargeback is when a “successful customer dispute over a legitimate transaction. One in which he or she knowingly and purposely participated and for which the customer is fully responsible”, states the Credit Card Blog by UniBul. Fraudulent chargebacks stem from consumers trying to game the system that is at the same time trying to protect them from fraud...

Avoid the Risks of Outdated Credit Card Processing (Part 2) Continued from Part 1 The Merchant Bill of Rights includes: #7 The right to encrypted card numbers and secure transactions "Obviously, you would never want the credit, debit and PIN numbers of your customers stolen by hackers. Large payments processors prevent hundreds of thousands of attempted hacks every day with...

Avoid the Risks of Outdated Credit Card Processing (Part 1) Business owners may not be aware of the liabilities they face if their credit card processing is not up to date and secured against hackers. Credit card companies may argue that outdated processing technology in effect broadcasts information negligently, and insurance carriers may not cover this, highlighting the importance of both...