In Part 1, we gave an overview of what chargebacks are and how merchants can respond to chargebacks with the reason code, “Product or Service Not Received or Merchandise/Service Not Provided.” In the next several installments in our series, we will continue to cover some best practices for even more chargeback types. This week we’ll focus on “Cardholder Claimed Not to Participate” chargebacks.
As a leading provider of payment processing solutions for many businesses in the tri-state area, Fidelity keeps a close watch on emerging security threats—and unfortunately, in recent months, ransomware has been attacking businesses at growing rates. In our community alone, over a dozen companies have been targeted by this malicious software that locks the victim out of their files until a ransom is paid.
Ransomware attacks can be incredibly costly for businesses, and more often than not, businesses are left on their own to pick up the pieces (even government agencies like the FBI are unable to help). That’s why our Director of I.T., Aron Pollak, took it upon himself to volunteer his expertise—alongside a group of technicians within the I.T. community—to assist many of the victims whose businesses were brought to a complete shutdown by ransomware.
Aron sat down for a brief interview with Fidelity’s Security Manager, Zalman Miller, to share some insights into the nature of these attacks, as well as some advice on what organizations can do to protect themselves.
As contactless payments explode in popularity (purchases made with mobile wallets grew by 82% this past Black Friday as compared to 2018!), we’d like to provide you with a brief overview of how contactless payments work and what their unique advantages are.
We’re excited to announce the launch of a new series that will provide valuable information about chargebacks and how business owners can best manage them to mitigate negative outcomes. In Part 1, we’ll be giving an overview of chargebacks and focusing on one chargeback reason code in particular.
It’s that crazy time of year when stores have Christmas decorations on display right next to the Halloween candy. It’s only October, but holiday shoppers are already on the move!
There are lots of opportunities for merchants to capitalize on the upcoming holiday season: Thanksgiving, Black Friday, Cyber Monday, Chanukkah, Christmas, Kwanzaa, and New Year’s Day are all coming within the next three months, and holiday shoppers are ready to shop. Here are some promotional ideas to help retailers get ready to take advantage of the season filled with family gatherings, festive celebrations, and gift-giving.
PhonePay is our hosted, fully automated voice solution enabling you to accept phone payments from your customers quickly and securely, day or night. When you sign up for PhonePay, you’ll receive a dedicated dial-in number for customers to make payments or donations. You can choose pre-recorded scripts or create custom scripts to guide your customers through the IVR prompts so they can enter their payment information quickly and easily.
With the help of this automated system, you can reduce overhead costs, eliminate manual labor and save time, reduce data entry errors, and improve customer satisfaction by offering additional payment methods. Plus, PhonePay is highly secured and keeps payment data out of scope for PCI compliance.
The global shift to EMV chip cards has done wonders in terms of reducing counterfeit fraud. However, this added layer of security against card-present fraud means that many fraudsters have ramped up their efforts to steal data online—in fact, over the past year alone, the average price that fraudsters can fetch for card-not-present data has doubled-which means greater incentive to hack online retailers!
Fortunately, the payments industry has been focusing its efforts on optimizing online payment security for quite awhile now, and the good news is, a few big changes are just around the corner. If you’re an e-commerce retailer, we recommend that you familiarize yourself with the following security advances:
As the cold days of winter come to an end and summer looms on the horizon, now’s the perfect time to take stock of your business and make fresh changes to propel your business to new heights. Tap into this atmosphere of new beginnings and set the reset button on the past several months of hibernation with these 6 easy ways to spring clean your business.
As a business owner, we hope that you’ve implemented tactics and technology to keep your digital assets secure against attacks (if not, Fidelity is here to help!). But, don’t forget to stay vigilant against threats to your personal accounts, too. Here are 5 ways you can bolster security for your bank account: