Chargeback

Cyclebit Launches E-commerce Payment Service For Accepting Cryptocurrencies Alongside Regular Payment Methods

Retrieved on: 
Friday, September 25, 2020
Articles, Economy, Money, Decentralization, Cryptocurrency, Financial technology, Uberisation, Wallet, Chargeback, Online shopping, Draft:National Digital Asset Exchange Inc., Draft:Xcoins

LONDON, Sept. 25, 2020 /PRNewswire/ -- Cyclebit is launching Cycle Online , a new service that enables retailers to accept cryptocurrencies alongside traditional payment methods.

Key Points: 
  • LONDON, Sept. 25, 2020 /PRNewswire/ -- Cyclebit is launching Cycle Online , a new service that enables retailers to accept cryptocurrencies alongside traditional payment methods.
  • The unique feature of Cycle Online for retailers is its "multi-currency wallet" that accepts BTC, BCH, LTC, ETH, and other cryptocurrencies.
  • The settlement occurs instantly, allowing retailers to avoid high bank card transaction fees and chargebacks incurred during traditional fiat transactions.
  • The need for flexible e-commerce payment solutions is becoming acute among retailers, especially during the Covid-19 pandemic, according to Daniel Bessmert, CEO of Cyclebit Group.

Chargehound Helps Discord Fight Chargeback Fraud and Recover Revenue as the Company Scales

Retrieved on: 
Thursday, September 17, 2020
Merchant services, Chargeback, Software, Proprietary software, Discord, Operating systems

The partnership allows Discord to focus on scaling its service while protecting both customers and revenue from friendly fraud.

Key Points: 
  • The partnership allows Discord to focus on scaling its service while protecting both customers and revenue from friendly fraud.
  • As Discord grows Chargehound has become a valuable tool for the company by automating the chargeback dispute process for its Nitro subscription service.
  • "As any company scales and adds new customers, chargebacks grow in parallel," said Pallavi Kuppa-Apte, Chief Operating Officer at Chargehound.
  • As the only fully automated chargeback solution on the market, Chargehound is a revenue recovery solution that helps merchants fight 100% of chargebacks.

Chargebacks911: Increased contactless spending could be linked to higher fraud and payment disputes, warns global risk expert

Retrieved on: 
Tuesday, September 15, 2020
Technology, Finance, Professional services, Software, Internet, Retail, Data management, Other Professional Services, Online Retail, Money, Finance, Cashless society, Mobile payments, Payment systems, Contactless payment, EMV, Radio-frequency identification, Contactless, Chargeback, MasterCard, Payment

Customers across the globe have also got onboard with the payment method following contagion concerns about using cash and cards.

Key Points: 
  • Customers across the globe have also got onboard with the payment method following contagion concerns about using cash and cards.
  • As a result, Mastercard reported a 40% increase in contactless payment activity in Q1 of 2020.
  • This dramatic increase in contactless payments may be contributing to the sharp rise in chargebacks that have been recorded since the pandemic began.
  • For this reason, Monica warns everyone involved in the payment process to remain vigilant when it comes to chargebacks that stem from contactless payments.

Wind River Financial is Named Preferred Integrated Payments Partner for Bay Lakes Information Systems

Retrieved on: 
Friday, September 11, 2020
Money, Merchant services, Payment systems, Economy, Microeconomics, PA-DSS, Payment processor, Chargeback, Payment cards

With over 20 years of integrated payments and hospitality experience, Wind River brings the latest payment technology and security enhancements, as well as best practices for industry chargebacks and payment policies.

Key Points: 
  • With over 20 years of integrated payments and hospitality experience, Wind River brings the latest payment technology and security enhancements, as well as best practices for industry chargebacks and payment policies.
  • In addition, the Wind River integrated payment solution mitigates fraud, reduces PA-DSS scope, and eliminates the complexity of the compliance process.
  • "Wind River stepped in and filled a major gap we identified in our payment processing service," commented Greg Swain, CEO of Bay Lakes Information Systems.
  • Bay Lakes Information Systems is an industry leader in providing property management software built by the people who use it.

TCA Compliance to Deliver BankersOnline Webinar about Mastercard and Reg E Error Resolution

Retrieved on: 
Thursday, September 3, 2020
Merchant services, Finance, Money, Online payments, Credit cards, Chargeback, Companies, MasterCard, Cision, Arbitration

CHICAGO, Sept. 3, 2020 /PRNewswire-PRWeb/ --Brian Crow, CAMS Co-president/Managing Partner of Chicago-based TCA Compliance, will present a BankersOnline Learning Connect Webinar, "Mastercard & Reg E Error Resolution," on October 16 at 10 a.m.

Key Points: 
  • CHICAGO, Sept. 3, 2020 /PRNewswire-PRWeb/ --Brian Crow, CAMS Co-president/Managing Partner of Chicago-based TCA Compliance, will present a BankersOnline Learning Connect Webinar, "Mastercard & Reg E Error Resolution," on October 16 at 10 a.m.
    During the two-hour event, he will discuss Mastercard's recently revised arbitration process for more complex claims.
  • Institutions that do not understand the new requirements, issued in July, could end up paying claims that they are not required to.
  • Knowing what information is needed to successfully recover funds via the chargeback process while not running afoul of investigation obligations under Reg E is a delicate tightrope.
  • "In addition to complying with the federal regulation, institutions must also comply with their contractual obligations to Mastercard," says Crow.

Increase in Ecommerce During COVID-19 Accompanied by Sharp Rise in Chargebacks

Retrieved on: 
Monday, August 24, 2020
Chargeback, Cardone, Fraud, Articles, Human behavior

(1) "With this enormous increase in online sales will come an enormous increase in chargebacks," says Monica Eaton-Cardone, co-founder and chief operating officer of Chargebacks911 .

Key Points: 
  • (1) "With this enormous increase in online sales will come an enormous increase in chargebacks," says Monica Eaton-Cardone, co-founder and chief operating officer of Chargebacks911 .
  • "In addition to the customary friendly fraud, we're seeing an unprecedented uptick in chargebacks related to delivery and service issuesa situation that could become the 'new normal' in retail."
  • The growth of service-related chargebacks, says Eaton-Cardone, stems from a combination of heightened ecommerce volume, an expectation of timely fulfillment of these new orders, and merchants' struggle with COVID-based personnel shortages.
  • (2) Since the onset of the coronavirus crisis this spring, chargebacks based on service have overtaken friendly-fraud chargebacks, which represent 60% to 80% of all issuances.

Sift Announces Adobe Collaboration and Magento 2 Extension

Retrieved on: 
Tuesday, August 11, 2020
EBay, Free software, Software, Magento, Chargeback, Adobe Inc., E-commerce

Sift has achievedtheInnovate levelin the Adobe Exchange Partner program.

Key Points: 
  • Sift has achievedtheInnovate levelin the Adobe Exchange Partner program.
  • Now, businesses built on Magento 2 can unlock instant access to Sift using the Sift Magento 2 extension.
  • With this new partnership and integration, Sift will empower the thousands of merchants on the Magento 2 platform to accelerate their business safely and securely.
  • By leveraging the new Sift extension, Magento 2 merchants can:
    Stop chargebacks: An ensemble of machine learning models delivers unparalleled accuracy, so merchants can proactively reduce fraud by 80% or more.

New Chargeback Data Provides Valuable and Encouraging Insights

Retrieved on: 
Tuesday, August 4, 2020
Technology, Retail, Other Technology, Other Retail, Merchant services, Chargeback, Chargeback fraud, Internet fraud prevention

The second-annual publication provides unprecedented insights into why disputes happen, how to effectively prevent and fight chargebacks, and what can be expected in the future.

Key Points: 
  • The second-annual publication provides unprecedented insights into why disputes happen, how to effectively prevent and fight chargebacks, and what can be expected in the future.
  • Midigators goal for The Year in Chargebacks is to provide valuable, relevant data that can easily be used to enhance current management strategies.
  • The takeaways of the 2020 report highlight the dynamic, evolving nature of payment disputes:
    Ongoing, technology-assisted chargeback prevention efforts continue to prove effective.
  • Data analysis has always been the foundation of Midigators chargeback management philosophy, said Corey Baggett, CEO of Midigator, and this report shows why.

Accertify Launches Digital Identity Solution to Battle Increasing Account Opening and Account Takeover Fraud

Retrieved on: 
Thursday, July 16, 2020
Internet, Finance, Banking, Data management, Professional services, Technology, Mobile, Wireless, Security, Merchant services, Chargeback, Computer access control, Security, Identity management, Economy, Identity fraud, Identity theft, Digital identity, Internet fraud prevention, Credit card fraud

Accertify Digital Identity is a sophisticated API-based solution that empowers organizations to trust and verify who is on the other side of a digital interaction.

Key Points: 
  • Accertify Digital Identity is a sophisticated API-based solution that empowers organizations to trust and verify who is on the other side of a digital interaction.
  • Fraudulent account openings, using stolen or fake names and information to open an account, and account takeovers, defined as unauthorized access to accounts, are two types of identity theft that are concerningly on the rise.
  • By pairing Accertify Digital Identity with our fraud and chargeback management products, we have the first end-to-end protection that helps organizations defend the entire customer digital journey from account opening, to login, account activity, purchases and chargebacks.
  • 1 Javelin Strategy and Research, 2020 Identity Fraud Study: Genesis of the Identity Crisis, April 2020.

Insight on How Businesses Hit By COVID-19 Face Holdbacks from Payment Processors

Retrieved on: 
Tuesday, July 7, 2020
Merchant services, Money, Economy, Financial services, Online payments, Chargeback, Payment processor, Square, Inc., Payment systems, Interchange fee

Without incoming revenue, many merchants have been unable to satisfy these financial obligations, and Payment Processors around the globe are left holding the bag.

Key Points: 
  • Without incoming revenue, many merchants have been unable to satisfy these financial obligations, and Payment Processors around the globe are left holding the bag.
  • Payment processors are ultimately liable for three items: chargebacks, refunds, and interchange fees.
  • Chargebacks have long been a problem within merchant processing, but in recent months, these fees have been crippling businesses.
  • As a result, payment processors, such as Stripe and Square, were suddenly forced to take additional holdbacks and reserves from merchants.