As upcoming merchants, you probably already heard the terms void, refund, and reversal when discussing payment transactions. Generally, all three are transaction methods that are initiated by the merchant and are meant to return money to the customer.
Highlights: This is the second part of a blog series we created as part of a global campaign for #FraudWeek The first part, which explores fraud and fraud-related chargebacks, can be read here Previously, we talked about fraud, fraud-related chargebacks, and how they serve as a double-edged sword: they hold both merchants and cardholders victims. […]
While technology created the space that allows for seamless financial transactions between clients and merchants, it has also become a cause for abuse. It has provided another area of opportunity for potential criminals to leech on, most of which are fraudulent in nature. Fraud has always been a danger to both supplier and consumer. […]
As a merchant, it's possible that you'll see a credit card dispute at some point in your business. Many businesses for one reason or another have already experienced a customer disputing a charge and have had to deal with a "Chargeback". This week, however, we wanted to address the issue of what happens when you, as […]
Anyone who’s worked retail has likely made a mistake while charging a credit card. This can create a headache for customers, staff, and management. For most people the first reaction is to simply void the transaction and start over. The problem with this approach is you're usually left with the customer asking why they were […]
