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Category: Resources

Card Schemes: Everything Merchants Need to Know

Card schemes are the main authorities in electronic transactions. When it comes to taking card payments, merchants need to make sure they are complaint with their policies and regulations. That’s why getting to know them is key for your business.

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Visa Fraud Monitoring: What Merchants Need to Know

The Visa Fraud Monitoring Program (VFMP), an initiative by Visa that helps merchants identify and lower excessive fraud activity, recently made updates to their dispute conditions. The main change applies specifically to a set of rules called Dispute Code 10.5

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questions for acquirers

5 Questions Merchants Should Ask Their Acquirer

For merchants, it is vital that their chosen payments acquirer has the ability to work with them as a partner as opposed to simply a provider of payment services to fulfil consumer purchases. Acquirers should be able to work with their merchants and payments intermediaries in order to complete as many transactions as possible while managing the risk of fraud and chargebacks effectively.

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Payments Basics: What is an Issuer

An issuer is a bank or financial institution which provides debit, credit, and/or prepaid cards to consumers on behalf of payment card schemes. Typical payment card schemes include Visa and Mastercard, for example. In 2018, 668.87 million cards were in circulation in the EU alone. Every one of these cards was provided to consumers via an issuer.

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What is an Acquirer and Why You Need (a Good) One

If you’re an entrepreneur looking to accept debit and credit cards for your business, you’ve come across the word “acquirer”. In the payments industry, acquirers go by a few different names. You may have heard them being called a merchant account bank, a merchant bank, or a settlement bank.

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COVID-19 and its effect in the payment industry

COVID-19 Changes the Payments Industry

From the rolling back of mandates to the rise of contactless transactions, the payments industry has seen its fair share of changes since the world learned about COVID-19 earlier this year. Visa and Mastercard have postponed merchant requirements scheduled for the spring. Contactless payment minimums have been raised around the world to discourage surface contact on areas where the virus can thrive. The UK’s Financial Conduct Authority extended its deadline for Strong Customer Authentication (SCA) for six months.

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