Visa Claims Resolution (VCR) is an initiative to streamline workflows and standardize rules for chargeback and dispute resolution.
More information about VCR can be found here.
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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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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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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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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 ISO agent is essentially a salesperson, an individual contracted to sell services provided by…
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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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Mastercard SecureCode is a fraud prevention tool used by online merchants. It helps verify that…
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A simplified explanation of the rules regulating the Visa Chargeback Monitoring Program (VCMP)
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Win rate is a calculation that compares the number of successful chargeback responses against the…
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