Chargebacks… one of the most dreaded terms of the merchant processing industry. Properly defined, it’s the dispute initiated by either a cardholder or a financial institution against a transaction that was processed at your store. Either the customer was unsatisfied with the product or they didn’t receive the goods or the worst, a fraudster has [...]
What Can a Merchant Do to Help Prevent Debit Machine Skimming?
What is Debit Machine Skimming? Put five Canadians in a room together and chances are, at least one of them has had to make a trip to the bank for a new debit card because their card may have been compromised. Debit Machine skimming incidents are on the rise in Canada, growing exponetially every year. [...]
Where is the CVV # on Credit Cards?
I have had a few merchants recently not understand what the CVV # is on credit cards and how they can use it to protect themselves from potential fraud and/or chargebacks. In the image (the left) shows you where to find the CVV number on credit cards. It is a three or four digit security [...]
Is Your POS Equipment Out of Date?
I was recently reading an article written by Ellen Roseman who wrote an article for the Toronto Star called ‘Protect Your Card Numbers‘ and it spark some really interesting conversations about out of date point-of-sale equipment in the Canadian Merchant Account industry. Ellen talks about how she received a receipt from a business with her [...]
