Industry News

When Hell Freezes Over

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 a signature for a credit …

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New Chargeback Rules

Posted in Customer Support, Industry News.

New Chargeback Rules. For Visa sales, new chargeback rules will take effect on April 15. 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” is being retired. The current 22 …

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Transport Layer Security (TLS)

Posted in Customer Support, Industry News and tagged with .

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 different devices/terminals securely communicate over …

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Optometrists in need of processing!

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

healthcare

There are several thousand optometrists that operate nationwide from within large, big-box retailers. Recently, a few of these retailers have stopped offering credit card processing to their in-house optometrists! This has left many optometrists scrambling for credit card processing at the last minute. Don’t let an unexpected business change result in paying high processing fees! By …

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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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Interview with Dharma COO

Posted in Dharma's Culture, Dharma's Giving Back, Industry News, Social Responsibility.

Interview with Dharma COO. Recent Cardrates.com interview with Dharma’s Nick Bencivenga: “As the move toward a cashless society accelerates, businesses are evolving to accept an array of payment methods. While the field is competitive, one payments processor is prioritizing the planet over profits. Dharma Merchant Services looks to not only streamline payments for businesses with its Interchange-plus pricing …

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Relationship & Responsibilities

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

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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Appalling, but True

Posted in Industry News and tagged with .

Appalling, but True. There is a breaking news story in the payments processing industry that is worthy of mentioning as an example of the negative industry practices (and reputation) that are relevant to our stakeholders. The full story is on the U.S. Department of Justice website, and the gist is that a credit card processor …

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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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