Part 2 of our Payment Card Acceptance Best Practices Guide.
At UniBul Merchant Services we have just launched our new website http://www.unibulmerchantservices.com/ and, to mark the occasion, we developed our first merchant manual for credit card acceptance. We wrote this guide to help our merchants process online payments in a way that will ensure compliance with Visa and MasterCard regulations, which, in turn, translates into lower levels of chargebacks and downgrades and, eventually, into lower processing costs. We divided it in 10 parts for easier digestion and following is the first one, which covers our best practices suggestions for the information online merchants should make available for their customers.
Part 2 Transaction Processing
The Associations have established a range of fraud-prevention policies, guidelines and services. Implementing these tools and best practices will help protect you from fraudulent transactions and will reduce chargebacks.
2.1 Cardholder information.
If the shipping address differs from the billing address, follow-up with a phone call or an email to verify the order. Be sure to ask for a phone number in your order form.
2.2 Card information.
Get the cardholder’s name and the card number and type (most consumers do not know that a card’s type can be determined by the card number), the card’s expiration date (make sure it is in the future) and the card ID - the CVC2, CVV2 or CID number, located on the back of the card (or on the front for American Express cards). The card ID serves to ensure that the customer is in possession of the card.
2.3 Implement Verified by Visa andMasterCard SecureCode.
The Associations introduced these tools to help merchants fight fraud and reward merchants who use them with very strong representment rights.
2.4 Always use AVS.
The Address Verification Service (AVS) allows you to check a cardholder’s billing address. The perpetrators of fraud often do not know the account’s correct billing address.
2.5 Only ship to an AVS verified address.
2.6 Deliver the merchandise or services to the cardholder at the time of the transaction.
If that is impossible, inform the cardholder of the delivery method and the tentative delivery date. Transactions cannot be deposited until goods or services have been delivered.
2.7 Do not use voice authorizations.
They bypass the processors’ systems and cannot be used as supporting evidence in chargeback representments.
2.8 Each deposit should refer to one authorization.
Do not use forced authorizations.
2.9 Ship within seven days of authorization.
Otherwise you should obtain a new authorization.
2.10 Deposit transaction receipts within three days of the transaction date.
For card-not-present transactions, the transaction date is the ship date, not the order date. Transactions deposited more than 30 days after the original transaction date may be charged back to you.
2.11 Use the same transaction ID returned from your auths for your deposit and refund transactions.
This eliminates deposits of refunds where auths have not been performed and can substantially reduce fraud.
Unveiling the Payment Card Industry (PCI) Data Security Standard (DSS)
In an era where digital transactions are ubiquitous, understanding and adhering to the Payment Card Industry Data Security Standard (PCI DSS) is crucial for businesses that handle card payments. This comprehensive guide is designed to assist online merchants in navigating the complexities of PCI DSS, ensuring compliance with major credit card networks such as Visa and MasterCard. Adherence to these standards not only minimizes the risk of data breaches but also reduces chargebacks, downgrades, and ultimately, processing costs. This article delves into the essentials of PCI DSS, outlining the requirements for merchants and the importance of safeguarding cardholder data.
Credit Card Presentment Requirements
Presentment Requirements is part one of a ten-part payment processing manual for merchants accepting credit card payments.
