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The Visa Dispute Monitoring Program

What’s Changed With Visa Chargebacks? The Visa Chargeback Monitoring Program was renamed to The Visa Dispute Monitoring Program. As such, the VRPT application (Visa Risk Performance Tracking) will now show VDMP instead of VCMP. April 2018 saw Visa change the term chargeback to dispute, and now these new changes have followed suit with that distinction. The changes to the term were made because of the semantic distinction between them. [...]

By |2019-09-20T15:04:15+00:00September 9th, 2019|chargebacks, Credit Card Payment Processing|

Wells Fargo System Outage

As of February 8, 2019, the Wells Fargo mobile has been experiencing difficulties in operation. From the Wells Fargo Twitter: “We’re experiencing system issues due to a power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance. We’re working to restore services as soon as possible. We apologize for the inconvenience. We want our customers to know that this is a contained issue affecting [...]

High Risk Businesses

A business is considered high-risk when it meets one of two conditions. The first is that it operates in an industry that is considered high-risk, or prone to health concerns or controversial practices. These types of businesses include software, health and wellness, travel and hospitality, legal services, financial services, gambling, anything adult-oriented, tobacco, and eCommerce. This is not a complete list, but it gives you an idea about what [...]

Preventing Credit Card Fraud

Credit card fraud is no joke; according to Forbes, merchants in the United States are losing approximately $190 billion a year to credit card fraud. Customers of banks lose around $4.8 billion, with banks themselves losing an additional $11 billion. The scale of this problem is massive, with credit card losses equivalent to the total annual energy spending in the USA (which is about $140 billion). This is the [...]

Top 10 Chargeback Facts You Should Know

1. A chargeback is a bank-issued refund For reasons of simplicity, this is the best working definition of a chargeback. Chargebacks are filed by the consumer/card-holder regarding a transaction for which they used their bank-issued card. There are a few classifications of disputed claims, which we will cover shortly. The chargeback process allows the customer to circumvent the merchant refund request and address the bank directly, initiating the chargeback [...]

By |2018-12-31T21:15:28+00:00December 31st, 2018|chargebacks, merchant processing|