Card Acceptance Best Practices Goal
The credit card companies and associations require that their cards are accepted according to a set of rules that each one of them publishes at least once per year. It is important for you understand what these rules are and implement them into your sales process to ensure that you:
a. Get the lowest possible processing rates.
b. Minimize fraudulent transactions.
c. Reduce chargebacks.
Website Requirements
Certain content or features should be clearly displayed on your website. These elements are intended to promote ease of use for your customers and reduce …

Taking online shopping to the next level
Online shopping is fast becoming a favorite pastime amongst more and more consumers. Once upon a time, before the advent of online shopping, only housewives were the core target audience for armchair catalog shopping. They switch on the TV, see something they fancy on the local TV shopping network, make a quick call and ta-da, their items will be delivered to their doorstep in a matter of days.
Fast forward a decade or so into the future and we arrive smack in the middle of …

The role of smart phones
The smart phone is undeniably becoming more and more indispensable in our lives. Staying in touch via Twitter and other forms of social networking is a breeze with this gadget. Besides that, a good Internet or Wi-Fi connection allows its users to enjoy a myriad of online games, navigate their way around using GPS and even go on an online shopping spree using just their mobile devices! There are applications for just about anything you need! And speaking of which, the mobile e-Commerce industry is indeed …

What are Card Verification Codes?
All major credit card companies and associations have implemented a three- or four-digit security code that is printed on the front or back of each card. This added security measure enables a retailer to verify that the buyer has the actual card in hand during a card-not-present transaction, thus reducing fraudulent
transactions. Check out for information below on the card security codes for
each of the major brands.
Visa
Security code: CVV2 (Card Verification Value 2)
Details: Located on the back of all Visa cards, the CVV2 consists of the last …

A friend once went through the entire process of setting up his e-Commerce business and found that the task that demands most of his time and energy is the task of setting up his online merchant account. He likened it to having to piece together lots of jigsaw puzzles until you see the big picture at the end of the process, which can be pretty rewarding for an online business owner. The “pieces” we’re talking about refer to:

A bank or provider that provides you with the services of obtaining an …

Well, it looks like Visa is again extending its reach across the world. The financial world is abuzz over Visa’s acquisition of Cybersource. The world’s largest electronic payments network made headlines when they acquired CyberSource Corporation, a prolific online payment services provider for a record total of $2 billion. In cash, no less. Their offer price of $26 per share for all outstanding CyberSource shares has also been made public. The whopping $2 billion price tag is the biggest one yet since Visa went public in the year 2008. Michael …

Define Address Verification Service (AVS)?
The Address Verification Service (AVS) is a risk management tool for merchants accepting transactions in which neither the card nor the cardholder are present (e.g., mail, telephone order, internet transactions), or in which the card is present but its magnetic stripe cannot be read by a terminal at the point of sale. AVS helps reduce the risk of accepting fraudulent transactions by facilitating the verification of the cardholder’s billing address with the card issuer. This address information helps you determine whether to accept a particular transaction …

When it comes to credit card processing fees, online merchants are not spared the problems that they potentially face in this area. Merely comparing the best card processors out there is not quite enough – merchants will still be dogged by issues pertaining to credit card processing fees. Here are some issues that you need to know about so that you can stay clear of them:
1. Interchange refund
When a merchant processes a refund, the card issuer returns the interchange to the processing bank. At this point the Processor has two …

As a continuation from our 14 Ways to Better Manage e-Commerce Risk Part 1 post, here are the remaining methods on how to better manage risks in e-commerce.
8. Protect your merchant account from intrusion. Implementing proactive measures can minimize the risk of criminals gaining access to your shopping cart or payment gateway and making fraudulent fund deposits.
9. Create a secure process for routing authorizations. You need to set up a secure and efficient process for submitting authorization requests over the internet, before you can start accepting card payments online.
10. Set …

As an online merchant accepting credit card payments, you have numerous security issues that you must be aware of for the safety of your business and your consumers. At this time, there are two main aspects of credit card security for credit card processing, including “AVS” and “CVV”. Both allow credit card transactions to be completed anonymously over the internet, and any merchant accepting credit cards online should require both forms of information of your customers.
Address Verification Service (AVS)
The “AVS”, or address verification service, is used to determine that the …