“Chargebacks” Posts

Will an Electronic Signature Hold Up in Court?

Will an Electronic Signature Hold Up in Court?

In the age of convenience, it’s no surprise that documents — and even signatures — are being digitized. In comparison to the old process of mailing documents to obtain a signature or requiring a customer to visit your business, digital signatures offer an efficiency boon for businesses and customers alike. You’ve likely shopped at a business that had an electronic PIN pad that prompted you to sign on the screen instead of printed receipt paper. If you’re a business owner, this likely prompted you to wonder, “Are electronic signatures as legally binding as traditional paper signatures?” If you’re…

How to Fight a Chargeback (and Win)

How to Fight a Chargeback (and Win)

Credit card fraud is bad for everyone but the fraudster. As a consumer, you might spot fraudulent transactions on your credit card statement that send you into a panic. You’re anxious to receive financial reimbursement, safeguard your identity and determine how your payment information was obtained. Businesses stand to face huge losses as well: They absorbed 38 percent of U.S. fraud losses in 2014, totaling $2.95 billion. If a business can’t properly fight the fraud, it takes the loss. The trend isn’t letting up. Monthly fraud attempts and the percent of revenue lost to fraud…

EMV Liability Shift Impact on Businesses

EMV Liability Shift Impact on Businesses

There is an entire underground economy powered by stolen credit cards. With traditional magnetic stripe cards, a fraudster could simply obtain one, make copies using a cheap machine and hire people to go shopping. The credit card issuers (MasterCard, Discover, Amex and Visa) were liable for these unauthorized transactions, resulting in losses that exceeded $16 billion in 2014, according to WalletHub. The staggering losses encouraged the card issuers to adopt new technology to fight fraud. Enter EMV. The Science of EMV Chip Cards The U.S. was not a trailblazer when it adopted EMV (Europay, MasterCard and Visa) chip cards.…