Customer Support

Fraud Alert!

Posted in Customer Support, Industry News and tagged with .

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 rings have developed specialized servers …

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BIN-2 MasterCard Update

Posted in Customer Support, Industry News and tagged with , .

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”, AMEX always starts with a …

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Relationship & Responsibilities

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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 need to safely and securely …

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Convenience Fees

Posted in Customer Support, Industry News and tagged with , .

Convenience Fees. Recently we wrote about the various rules and regulations around surcharging customers for credit card processing fees (remember that surcharging for a debit or a prepaid card transaction is strictly forbidden). Now we are addressing Convenience Fees, which are allowed in all states. ​This is a flat or fixed fee that can be assessed in …

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Beware

Posted in Customer Support, Industry News and tagged with , .

Beware. In 2011, Congress created a new watchdog agency called the Consumer Financial Protection Bureau (CFPB), which was charged with oversight of the financial industry in the wake of the 2008 mortgage/banking meltdown.​ The Bureau promotes fairness and transparency to protect consumers from deceptive practices not only in the banking and mortgage industries, but also …

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Surcharging

Posted in Customer Support.

Surcharging – part deux. We like to revisit this topic from time to time as rules sometimes change, plus we like to educate new merchants on industry practices. We are often asked about surcharging, which is the practice of passing on the processing fees to customers. First, merchants are not allowed to surcharge for debit …

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Tax Time News

Posted in Customer Support, Industry News.

Tax Time News. Part 1 – Dharma Merchant Services has a new partnership with Taxfyle – a small business on-demand marketplace where you have access to the highest tax and accounting knowledge. Merchants can submit jobs, connect with a licensed professional, exchange documents, and sign for returns all on a mobile or desktop device … …

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Credit Card Industry Update on EMV

Posted in Customer Support, Industry News and tagged with .

Credit Card Industry Update on EMV. As a short review of matters of interest in the credit card industry, here is a notable update from this past year. The Europay MasterCard Visa initiative, or EMV for short​, completes its first year of adoption here in the U.S., which requires all point-of-sale systems to be able …

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​7 Powerful Strategies to Improve Your ECommerce Site

Posted in Customer Support, Industry News and tagged with , , , , .

What does the phrase e-commerce bring to mind? Amazon? Ebay? Steam? Most people know the big names, and understand that it refers to buying and selling products and services online. What they might not understand is that the concept of e-commerce has grown immensely in recent years. Most business, be they large or small, perform …

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