According to data released by the National Statistical Office, the total amount of online shopping transactions in November was 17.577 trillion won, up 16.5% from a year ago. As the non-face-to-face era begins due to the influence of COVID-19, the trend of preferring online consumption to offline continues. It’s time to start an online shopping …
Category Archives: Resources – ENGLISH
PCI COMPLIANCE
Q: What is PCI-DSS? A: The Payment Card Industry Data Security Standard (PCI-DSS) is a worldwide information security standard mandated by the Payment Card Industry Security Standards Council. The Standard was created to help organizations that process card payments prevent credit card fraud through increased controls around data and its exposure to compromises. You, as …
CUSTOMER CREDIT CARD DECLINED?
You’re minding your own business, ringing up another sale for your next customer, and then it happens–your normally boring credit card terminal spits out a strange number and message indicating that the transaction did not go through as expected. You’ve just received a credit card decline code, in fact. But what does it mean, and …
CHARGEBACKS
A chargeback is a transaction that a card issuer returns to a merchant back – and most often, to the merchant – as a financial liability. In essence, it reverses a sale transaction, as follows: ㆍThe card issuing bank subtracts the transaction dollar amount of the transaction. ㆍThe merchant’s bank debits the merchant’s bank for …
MERCHANT OBLIGATIONS AND PROCESSING SUGGESTIONS
Below is a list of your obligation when accepting and processing credit card transactions. THE VIOLATION OF THE FOLLWING RULES MAY RESULT IN IMMEDIATE TERMINATION OF YOUR MERCHANT PROCESSING ACCOUNT. ㆍMerchant may not under any circumstances accept or process Visa and MasterCard sales for another merchant (business) through his/her credit card terminal. This is known …
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PROTECTING YOUR BUSINESS FROM FRAUD!
All card transactions should be electronically read (Swiped, EMV chip Inserted etc). Numbers displayed on the terminal or receipt should be checked against those embossed on the card being presented for payment. If your terminal does not display the card number when swiped, please contact Card&Beyond’s Technical Support at 1-800-495-0122 so they can update your …