An ISO agent is essentially a salesperson, an individual contracted to sell services provided by an independent sales organization (ISO).
Rather than maintain their own in-house teams for sales, customer support, etc., many acquirers and processors will work with an ISO. This organization is contracted by the acquirer or processor to fulfill assigned responsibilities on the acquirer’s behalf.
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Address Verification Service (AVS) is an identity verification tool used by eCommerce merchants to reduce…
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Visa manages disputes with two workflows: allocation and collaboration. The reason code the issuer assigns…
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Before finalizing a transaction, the merchant must submit an authorization request to the customer’s issuer.…
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The average monthly sales volume is calculated as the total value of sales processed in…
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The average monthly transaction volume is calculated as the total number of transactions processed in…
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The average ticket amount is calculated as the net value of sales divided by the…
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A bank identification number (BIN) is used to uniquely identify each bank or financial institution…
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A billing descriptor is the short explanation of the transaction that appears on the cardholder’s…
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Some card brands, like Visa and Mastercard, are part of a card network or association.…
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Card brands facilitate credit and debit card payments. They essentially lend funds to merchants and…
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Every debit and credit card has a card security code (sometimes referred to as CVC2,…
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A card-not-present (CNP) transaction happens when the physical card is not read with a point-of-sales…
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A card-present transaction happens when the physical card is read with a point-of-sales (POS) terminal.…
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The California Consumer Privacy Act (CCPA) is legislation that regulates how businesses handle consumers' personal…
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A chargeback is a consumer protection mechanism. It ensures cardholders don’t have to pay for…
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Most chargebacks come with a fee. The chargeback fee is used to pay for the…
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Chargeback prevention alerts are a dispute resolution tool. If the issuer is a member of…
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The issuer assigns a reason code to each chargeback to help the merchant understand why…
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Each card brand carefully monitors the risk that individual merchants pose. One way the card…
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Visa manages disputes with two workflows: collaboration and allocation. The reason code the issuer assigns…
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Compelling evidence is certain documents that a merchant can submit with a chargeback response to…
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Credit cards provide a line of credit to cardholders to purchase goods or services. Credit…
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Businesses use a customer relationship management (CRM) system to store information about their various contacts…
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Debit cards withdraw funds directly from a checking or savings account so the cardholder can…
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Visa disputes are managed with one of two workflows: allocation or collaboration. Within those two…
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A payment dispute is a consumer protection mechanism. Cardholders have the right to dispute a…
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Dispute responses allow merchants to challenge illegitimate disputes. The purpose of a dispute response is…
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Mastercard offers merchants two ways to process payment card transactions. With the dual message system,…
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Dynamic Currency Conversion (DCC) is a service provided to cardholders when they shop with international…
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In regards to risk management, a false positive is a transaction that has been incorrectly…
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Friendly fraud happens when a shopper makes a legitimate purchase but later requests a chargeback…
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Some merchants are considered high-risk because they have the potential to be a financial liability…
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Rather than maintain their own in-house teams for sales, customer support, etc., many acquirers and…
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Each credit or debit card transaction a merchant processes is accompanied by an interchange fee,…
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An issuing bank is the cardholder’s bank. As a member of the card associations, issuing…
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A simplified explanation of the rules regulating the Mastercard Excessive Chargeback Program.
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The Member Alert to Control High-Risk Merchants (MATCH) List is a database of merchants who…
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Card associations have two different types of members. Members can be licensed to issue cards…
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The merchant’s acquirer will create a merchant account reserve to withhold a portion of the…
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A merchant category code (MCC) is a four-digit classification code use to describe a merchant’s…
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The merchant identification number (MID) is a unique alphanumeric identifier assigned to a merchant account.…
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A merchant service agreement is a contract between a merchant and acquirer. Service agreements establish…
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Negative option billing is a sales method that is popular with eCommerce and MO/TO merchants.…
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A payment processor shares and receives data from the card associations, acquirer, and gateway in…
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The chargeback process consists of several different stages that allow for back-and-forth communication between the…
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An issuer may send a retrieval request to the acquirer to obtain additional information about…
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A simplified explanation of the rules regulating the Visa Chargeback Monitoring Program (VCMP)
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Visa Claims Resolution (VCR) is an initiative to streamline workflows and standardize rules for chargeback…
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Win rate is a calculation that compares the number of successful chargeback responses against the…
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