Posted in Customer Support, Industry News.
When Hell Freezes Over. “When hell freezes over” … that’s when we thought the Card Associations would eliminate the need for signatures at the point of sale. Who knew? This is what is going down: as of April 13, 2018 Visa, Mastercard, Discover, and American Express will no longer require [...]
Read MorePosted in Customer Support, Industry News.
New Chargeback Rules For Visa sales, new chargeback rules will take effect on April 15 2018. The highlights of these changes are as follows: The timeframe for merchants to respond to a chargeback is being reduced from 45 to 30 days. The Reason Code 75, titled “Transaction code not recognized” [...]
Read MorePosted in Customer Support, Industry News and tagged with TLS.
Transport Layer Security (TLS) Transport Layer Security. Some merchants may have heard the phrase "TLS" or "TLS version 1.2" recently and may be wondering what this is, and how it impacts your ability to process credit cards. Transport Layer Security (TLS) is the updated internet security protocol, which defines how [...]
Read MorePosted in Customer Support and tagged with 1099-K.
1099-K Forms The IRS requires all payment processors to annually report the total credit card sales from each merchant, and further, that these 1099-K forms be posted by the end of January. So please be on the lookout for them in the mail. Also labeled as “Payment and Third-Party Network [...]
Read MorePosted in Customer Support, Nonprofit, Social Responsibility.
Skip the Slip! As a certified B Corp and a conscious company committed to the triple bottom line of people, planet, and profit, we are always looking for ways to reduce our footprint — meaning how can we operate with the least waste of resources and energy. Green America (of [...]
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Settlement Funds We often receive calls from merchants who are puzzled by the difference between the sales that were settled on any given day and the amount of money that is deposited in their operating account. There are so many situations and reasons why deposits may not match the generated [...]
Read MorePosted in Customer Support, Industry News and tagged with fraud.
Fraud Alert! Stolen Credit card numbers are all the rage these days ever since the chip card (EMV) initiative began. Fraud Alert ! It seems that data encryption inherent in the new EMV activated point-of-sale devices has forced fraudsters to move to ecommerce sites, using their “card testing” schemes. Fraud [...]
Read MorePosted in Customer Support, Industry News and tagged with Bin-2, mastercard.
BIN-2 Mastercard Update You may have heard about the new “BIN-2” – aka “Mastercard” update. Recently, Mastercard has started allowing issuing banks to create Mastercard accounts with a new numbering system. In the past, all Mastercard account numbers always had a “5” prefix. (Similarly, Visa always starts with a “4”, [...]
Read MorePosted in Customer Support, Industry News and tagged with AVS, batching, best practices, contract, fraud.
Relationship & Responsibilities As your Merchant Service Provider (MSP), it's Dharma's job to ensure that your accounts are registered with the card brands, and to help you accept payments with as little risk as possible. Ultimately, the risk of payment acceptance is your responsibility, but we provide the tools you [...]
Read MorePosted in Customer Support and tagged with account updater.
Account Updater Feature Using Authorize.Net One of the new services we’ve been anticipating for merchants using the Authorize.Net payment gateway for recurring billing (also known as subscription billing) is Account Updater, which is being released this month (May). This new service automatically connects to a database and verifies cardholders’ numbers [...]
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