Q: What is a MCC?
A Merchant Category Code (MCC) is a four-digit number that indicates a merchant’s line of business, along with the types of goods or services the merchant
January 19, 2022
FAQs
Q: What is an acquirer?
An acquirer, or an acquiring bank, works directly with merchants to ensure timely processing and payments of credit card transactions. Acquirers also oversee compliance with
January 17, 2022
Q: What is a representment?
A chargeback occurs when a consumer disputes a charge on their credit or debit card, and a representment is the merchant’s opportunity to counter the
January 15, 2022
Q: What is a chargeback?
When a consumer does not agree with a transaction on their credit or debit account, they can contact their bank to dispute the transaction. Consumer
January 13, 2022
Q: Is there any way to avoid chargebacks?
For many merchants, chargebacks (while costly) may seem unavoidable. When a merchant has done all it can to prevent chargebacks and yet they still occur,
January 11, 2022
Q: How can we fully utilize Account Updater?
Account Updater is offered by Visa MasterCard, Discover and American Express. Merchants enroll in Account Updater through their Acquirer. Card Issuers submit updates to the
January 9, 2022
Q: Is eCommerce (CNP) poised to overtake CP sales?
The rise of ecommerce is difficult to deny. Surely, the global pandemic has accelerated online purchasing, but the trend was already in place before Covid-19.
January 7, 2022
Q: Is the line between friendly and real fraud becoming thinner?
The chargeback process began as an antidote to true fraud. When a consumer had card information stolen, was a victim of identity theft, or when
January 5, 2022
Q: Can representment economics be improved?
Representments, or the process behind responding to a chargeback in the hopes it will result in the recapture of funds that were originally lost to
January 3, 2022
Q: What’s the difference between a CP merchant and a CNP merchant?
A Card Present (CP) merchant engages in transactions where the cardholder physically presents the card at the point of purchase. This allows the merchant to
January 2, 2022