Visa Claims Resolution (VCR)
Posted by Global Risk Technologies™
Understanding the Implications of Visa Claims Resolution Chargebacks are a decades-old process that hasn’t changed much since its inception. However, new policies and procedures associated with Visa Claims Resolution are set to revolutionize the way financial institutions and merchants process cardholder disputes. What is VCR? VCR is Visa’s new system to help…
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The Opportunities and Risks of PSD2
Posted by Global Risk Technologies™
January 2018 will see a significant change in the entire European payments landscape with the final adoption of PSD2. Otherwise known as the Second Payment Services Directive, PSD2 is a manifestation of the European Union’s mission to open-up payments to new entrants, properly regulate the industry and make sure that it is secure…
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EBA Amends Authentication Requirements For Ecommerce
Posted by Global Risk Technologies™
The fight against payment fraud is not only a battle between merchants and cyber criminals, it’s also a battle to find a happy medium between security and convenience. The European Banking Authority (EBA) struggled to keep customer advocates happy after it proposed that the new threshold for two-factor authentication (2FA) would be just…
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The storm after the calm: return season
Posted by Global Risk Technologies™
In 2016, US online consumers spent $3.34 billion on Black Friday, a 21.6% rise on 2015. Like most of Europe, the UK saw similar surges of 12.2% to £1.23billion. The phenomenon is now growing from a one-day Black Friday event into a ‘Black Fiveday’ event from Thanksgiving through to Cyber Monday. The fear…
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The Last Piece In The Convenience Puzzle: Making Secure Payments Easy
Posted by Global Risk Technologies™
Just 3-4 years ago, ordering a taxi in the UK would inevitably involve calls, cash machines and waiting for a cab that could be anywhere! And we’d only dreamed of having dinner from a favourite restaurant delivered straight to our own front door. When stripped back to basics, true innovation identifies pain points…
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Black Friday 2016: UK vs. US
Posted by Global Risk Technologies™
The mere mention of Black Friday calls to mind images of frantic shoppers hoping to secure the best deals on the year’s hottest goods. However, sales figures for the past few years reveal a drastic shift in consumer preferences—online holiday shopping has gradually replaced traditional brick-and-mortar experiences. While merchants operating in the brick-and-mortar…
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European Consumers Prefer Diverse Payment Methods
Posted by Global Risk Technologies™
Credit & Debit are Just Two of Many Payment Options Used by European Shoppers In the US and Canada, most online merchants and consumers rely on just a few commonly-used payment methods. The four major card brands—Visa, MasterCard, Discover and American Express—account for about 85% of all online transactions in this region, with…
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Understanding MasterCard’s Dispute Administration Fee (DAF)
Posted by Global Risk Technologies™
Mastercard charges a Dispute Administration Fee (or DAF) for intra-European and inter-European transactions. It automatically assesses the DAF for each cycle of the dispute process, which is paid to the sender and charged to the receiver. This isn’t unusual: several fees are involved in processing payment card transactions, with funds variously going to…
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The Paypers: Black Friday To Bring Seasonal Chargebacks?
Posted by Global Risk Technologies™
Online retailers need to prepare for hidden risks on the biggest shopping days of the year, writes our co-founder in The Paypers this week. Monica takes a look at the busiest shopping days in Europe, the US and China, pointing to the stats that show rising chargebacks among the booming sales. “The problem most closely…
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Fending Off Chargebacks In PayPal’s New Era Of Collaboration
Posted by Global Risk Technologies™
PayPal’s new strategic partnerships with Visa and MasterCard combine the power of the world’s largest payments and digital payments networks. Both deals have provisions that will impact heavily on how customers will purchase goods and services. Let’s start with the Visa agreement: in addition to signalling a new era of collaboration, the deal…
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