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These policies have been extracted directly from the Visa & MasterCard web sites and have not been changed in any way.
The following information is designed to provide information that will assist you in the acceptance of credit cards. Visa & MasterCard have established very stringent guidelines (rules) and failure to adhere to these COULD result in fines, termination of service, or BOTH. Requirements:
As a merchant YOU are responsible for establishing YOUR merchandise and credit policies. Clear disclosure of these policies can help avoid misunderstandings and potential customer disputes. Visa & MasterCard will support your policies, provided they are clearly disclosed to cardholders BEFORE the completion of a transaction. Visa / MasterCard will accept that proper disclosure has occurred if the one following disclosure statements are legibly printed on the face of the transaction receipt, near the customer signature line. (just the wording is sufficient on the receipt). • No Refunds or Returns. • Exchange Only: o You are willing to exchange returned merchandise for similar merchandise that is equal in price to the amount of the original transaction. • In-Store Credit Only: o You take returned merchandise and give the cardholder an in-store credit for the value of the merchandise only. • Special Circumstances: o You and the customer have agreed on some special terms and that agreement is written on the customer receipt. The cardholder’s signature indicates acceptance of these terms. For Mail Order or Telephone orders, YOUR refund and credit policies must be mailed, e-mailed or faxed to the cardholder. To complete the sale the cardholder must sign and return the disclosure statement to you. For Internet sales, YOUR refund and credit policies must be available to online customers through clearly visible links on your homepage. You should also provide “click through” confirmations for important elements of the policy. You could have a button that offers your customers the choice of Accept or Agree, to acknowledge that they understand your policy.
The following procedures are provided to help you process a transaction and reduce the potential for fraud and chargeback’s. When swiping the card through the terminal, hold onto the card for the entire transaction process. If you cannot process the card by swiping it through the card reader, then look at one of the following to see if this is the problem: The authorization process allows the card Issuer to approve or decline a transaction. However, to prevent fraud the issuer may request additional information about the transaction. o Call the authorization center for further instructions. o Their toll free number is located on your terminal. o Inform the customer that you have been instructed to pick up the card. If you are uncomfortable or feel threatened by the customer, THEN hand the card back and tell the customer it has been declined. Call the authorization center again, to let them know that you have returned the card to the customer. o It means the card is counterfeit. Keep the card in hand and make a CODE 10 CALL to the authorization center. What to look for on a card if you suspect it is a fraudulent card, or you are suspicious about the sale: Signature & Identification:
Under no circumstances are you allowed to make cash disbursements on a credit card. If you are ever unsure you can call the authorization center, schmooze inc. or the processor at any time. We are here to help you with these types of situations.
The following outlines basic fraud prevention guidelines and best practices for card-not present transactions. o 1= CVV2 is included in the authorization. o 2= Cardholder has stated that CVV2 is illegible. o 3= Cardholder has stated that CVV2 number is not on the card. o N= No match: Potential Fraud o P= CVV2 request not processed. Resubmit the information o S= CVV2 follow up with the customer to insure that the CVV2 is not present. o U= Issuer does not support this technology. YOU decide whether to proceed. Another valuable tool for your usage is Address Verification. You may ask your client for their address as it appears on the billing statement. You would simply be required to enter ONLY THE NUMERICAL portion of the address, and the zip code. (9 digits if possible) Your response will be one of the following:
The following represents the minimum information that must be displayed on your website. These elements are intended to promote ease of use for online shoppers and reduce cardholder disputes and potential charge-backs. o Because of your "global market", there is potential for misunderstandings. Provide as much information as is possible. o Include your phone number (s) and email address o This must be clearly posted. Additional “Best Practices”
o State time frames for order processing.
A chargeback is a transaction that a credit card Issuer returns to a merchant bank and is most often, to the merchant, a financial liability. In essence it reverses a sales transaction, as follows: Not only can you lose the dollar amount of the sale, you may also lose the merchandise, and be assessed a chargeback fee from the processor. WHY CHARGEBACKS OCCUR:
o Merchandise that was ordered has not been received o A service was not performed as expected o The customer did not make the purchase; it was fraudulent.
Most chargeback’s can be attributed to improper processing procedures and can be prevented with appropriate training and attention to detail. The following internal system will help you to minimize chargeback’s. o If its’ declined once, ask for another form of payment. o NO CARD, NO TRANSACTION! Again, make sure that your refund policy is clearly stated on your receipt. "All Sales Final" is just fine as long as the customer knows in advance. If you receive a notice of a pending chargeback, you should call us immediately so that we can help you with the process. Typically, you are given a very rigid timeline to respond to the request for information. Let schmooze help you with this to avoid unnecessary expense and frustration.
These tips are provided to help you design policies and procedures for your staff in combating fraud. Orders shipped to an International address. Suspicious shipping address Hesitation when customer is providing personal information Rush Orders Random orders; not caring if an item isn't in a particular color or size. First time shopper (internet sales) Larger than normal orders. Orders consisting of several of the same items. Orders made up of big or expensive merchandise only. Orders shipped “rush” or “overnight” Orders from Internet addresses at free e-mail services. Transactions on similar account numbers. Orders on multiple cards but shipped to the same address. Multiple transactions on one card over a very short period of time. Multiple shipping addresses. Multiple cards from a single IP address. If you have any concerns about any of these signs, please make a CODE 10 CALL to your authorization center. |
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| schmooze, inc. - 300 First Avenue,
Red Lion, PA 17356,
USA - Phone: (717) 246-8896 Toll Free: (866) 724-6663 Website Hosting provided by Double Dog Communications |