The past few months, especially since the pandemic outbreak, saw rapid development in contactless payments. The rising need to accept or adopt the contactless or cashless payment modes was mainly in response to prevent the spread of coronavirus. Nowadays, more advanced and smarter technologies are being deployed across several mobile devices, mostly due to factors …
MasterCard Takes Contactless Payments to the Cloud Read More »
This is an article about how Merchants can succeed during the 2020 Holidays
Mastercard Cautions Negative Q1 Revenue Impact from Coronavirus Earnings releases were tinged with a coronavirus theme during companies’ conference calls as decision-makers fear the negative effect of the coronavirus on travel and e-commerce globally. While many companies say it’s too early to assess the coronavirus impact, some companies offer an analysis of sales loss and …
MasterCard Cautions Negative Q1 Revenue Impact from Coronavirus Read More »
Mastercard is rolling out its new Dispute Resolution Initiative for payment processors and merchants that will bring many changes to how Mastercard chargebacks and transactions are handled. The initiative, which has a goal of improving chargeback outcomes and efficiency, will likely mean a more consistent process for merchants. The Dispute Resolution Initiative is being rolled …
While credit card access makes the world of commerce go round, many customers find themselves saddled with expensive subscription programs they never intended to participate in long-term. To reduce this risk, MasterCard has begun targeting negative options. Negative option billing is providing goods or services for a recurring payment, and will be continuously paid until …
MasterCard Making Changes To Subscription Payments Read More »
In partnership with Microsoft, MasterCard has just announced a new B2B digital platform designed to simplify global trade for small businesses. The platform, called MasterCard Track, is powered by Microsoft Azure. It works by connecting suppliers and buyers with lenders and other networks. MasterCard pointed out that while digitalization has played a major role in …
When your business accepts Mastercard, you will pay a fee called the Acquirer License Fee or ALF. The payment network charges the ALF to acquirers as a fee to access their network. As a business owner, it’s important to understand what this fee is because it’s passed on to merchants as one of the costs …
In April, credit card signatures will become a thing of the past. American Express, Discover, Visa, and Mastercard have all announced they will end the signature requirement for in-store credit card machine purchases. For Discover, Mastercard, and American Express, the end date was April 13. Visa will end the signature requirement later in the month. …
Millennials, who are between 18 and 34, are a major market segment for banks and other financial institutions to attract and retain. There are now more than 83 million millennials in the U.S., representing one-quarter of the country’s population and a larger share than baby boomers. Most millennials have spent their entire lives with technology …
How Banks Are Adapting to the Demands of Millennials Read More »
It seems that the U.S. Food and Drug Administration (FDA) is finally beginning to crack down on the growing vape and e-cig industry, after it announced last year that all e-cigarettes and other vaping products will now be regulated in the same way as cigarettes are under the 2007 Family Smoking Prevention & Tobacco Control …
New FDA Regulations Affect Online Vape Credit Card Processing Read More »
One of the biggest problems for merchants accepting credit cards is not fraudulent transactions, but rather false declines. Certainly, credit card fraud is costly, but it’s estimated that merchants lose $118 billion due to credit card declines where the transaction is genuine and the customer is not over their limit. It’s estimated that 15% of …
MasterCard Using Artificial Intelligence to Attack False Declines Read More »
Although the United States is considered to be a global leader in finance and technology, the country has strangely been a laggard in the realm of digital payments. According to John Lambert, executive vice president at payments giant MasterCard, the American system of retail banking and payments is in dire need of adopting a set …
Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply …
Fraud Costs Cut in Half Since the Introduction of EMV Read More »