Some businesses MAY be classified as high risk for a number of reasons. High Risk Processor provides merchant services for high-risk merchant accounts, offshore merchant accounts and high-volume merchant accounts (some examples of high risk merchants that Platinum will work with include mail order, telephone order, direct marketing, infomercials, travel, telecom, timeshares, herbal supplements, subscription services, membership services, membership clubs, tickets, MLM, multi-level marketing, water filtration, high volume merchant accounts, international merchant accounts, and companies facing high chargebacks, etc.). Is your business High Risk?

We represent a number of different processing sources both US based and offshore. If you are in need of one merchant account or multiple merchant accounts, we are confident that we can handle your processing, and customize it according to your needs. We can get your account approved quickly and keep it running smoothly.

Contact us today.

For our online merchants who work in the e-commerce world and depend on the internet for their livelihood, what does this mean to you. Will the President have power to shut you down, or maybe they just take over a specific industry within the e-commerce world like they have done with the cars in the retail world.

This bill, if passed, could cause a lot of problems for many of our clients currently processing credit cards on the internet. It may not touch everyone but there will definitely be some affected by this legislation.

You can read the article here.

1. One of your clients or shoppers has a problem with a transaction that took place at a merchants site.
2. The shopper informs their credit card issuer about the problem and asks for their money back.
3. The card issuing bank then reimburses the shopper the amount of the disputed transaction.
4. The card issuing bank then starts a special process, called chargeback, and obtains funds from the merchants processing/acquiring bank that will in turn debit the amount directly from the merchants bank account along with the chargeback processing fees.
5. The acquiring bank sends a Notification of Chargeback (NoC) and a Request for Information (RFI) to the merchant.
6. The merchant provides documentation to the shoppers issuing bank to dispute the NoC.
7. If the merchant provides sufficient amount of documentation to show they did not deserve the chargeback then the card issuing bank will reimburse the merchant and debit the shopper the disputed amount.  If the information is not sufficient then the merchant looses the chargeback dispute and the money is gone for good.

A Prepaid Debit Card allows organizations to pay large numbers of people around the world, efficiently and securely directly to their Prepaid MasterCard® cards, avoiding the delays and heavy surcharges of more traditional methods such as bank transfers and international checks.

Get a tailored payout solution from one of our sales directors today.

Among the operations and risk management guidelines is a document by Visa titled “Industry Letter To All Merchants” that discusses rising incidence of stolen cardholder account data in the payment industry. If you haven’t read the document we encourage you to do so.  Follow this link to the site.

Visa Tips & Tools

Barclaycard is a UK based company and is one of the fastest growing credit card issuers in the United States. Barclaycard gave the UK its first credit in 1966.

Check out the iphone app here!

It is the responsibility of each organization to comply with the PCI DSS by the dates prescribed by the PCI Security Council or by your acquiring bank. On the PCI Security website you can find a PCI SSC Self-Assessment Questionnaire to help you determine and assess your PCI compliance needs.

Visa has a charge back ratio threshold of 1% of total sales volume (for any given month) and up to 100 chargebacks. Master Card is exactly the same scenario, only their threshold is a 0.5% ratio, and 50 total chargebacks in any given month. In addition, you can find more information regarding these programs at:

• MasterCard Chargeback Manual
  
• Visa Card Acceptance Guide
  

Here are some other chargeback statistics that Visa/MasterCard also consider red flags?

• More than 50 MasterCard Chargebacks in a single month
• More than 100 Visa Chargebacks in a single month
• The total Chargeback dollar volume exceeding $2,000
• Receiving chargebacks in the fist month of processing with a bank or processor

You can calculate your charge back percentage by dividing the number of chargebacks in a month into the number of Visa/MasterCard transactions of that same month or divide the dollar volume of chargebacks in a month by the total dollar volume of Visa/MasterCard transactions processed in that same month.

If you are concerned about chargebacks please contact us immediately. Platinum Management Group specializes in handling higher risk accounts and helping the merchant reduce their chargebacks and chargeback costs.

CVV is an authentication procedure established by credit card companies to further efforts towards reducing fraud for internet transactions. It consists of requiring a card holder to enter the CVV number in at transaction time to verify that the card is on hand.  The CVV code is a security feature for “card not present” transactions (e.g., Internet transactions), and now appears on most (but not all) major credit and debit cards. This new feature is a three- or four-digit code which provides a cryptographic check of the information embossed on the card. Therefore, the CVV code is not part of the card number itself.

The CVV code helps ascertain that the customer placing the order actually possesses the credit/debit card and that the card account is legitimate. Each credit card company has its own name for the CVV code, but it functions the same for all major card types.

• VISA refers to the code as CVV2
• MasterCard calls it CVC2
• American Express calls it CID

The back panel of most Visa/MasterCard cards contain the full 16-digit account number, followed by the CVV/CVC code. Some banks, though, only show the last four digits of the account number followed by the code. To aid in the prevention of fraudulent credit card use, many companies now require the 3 or 4 digit code on the back of your credit card.