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  For most people, nothing is more frightening than reviewing their bank statements and getting something unpredictable. However, extra costs and credit card balances are not the only structures that may be concealing in your financial group. If you also trust the myths about your ‘friends, co-workers’ who had the theft of their organs in Mexico, or that Walt Disney cryogenically iced, then you may want to know five terrible myths about payment processing . Five Terrible Myths About Payment Processing Myth. 1 The issuing bank will take liability for fraudulent transactions on your  online merchant account . Fact: The only factor terrible than a jester with a knife is a jester with a packet full of chargebacks. After October 1st, 2015, the responsibility for in-store fake fraud moved from the issuing bank to the front borders, Now if either the customer or the online merchant has not familiar with the new EMV chip technology, then they are ready to face the disappeared funds from the ac

  To enhance their procedure, mitigate fraud, and subject any loopholes or abuses of their systems they find. All the primary card networks make regular updates to their rules and regulations. However, most of these modifications are moderately small, but after a while, a change arrives and also bounces things upward. The EMV responsibility diversion is an appropriate example of this. What is Visa Claims Resolution? Visa Claims Resolution  (VCR) was one of the most powerful updates to the payment industry experienced in the last decades. Visa Claims Resolution is the beginning to simplify functionalities and formalize rules and regulations for chargeback and dispute management. The beginning affects all payment industry members such as issuers, acquirers, processors, and online merchants. VCR Visa Claims Resolution went live in April 2018. Visa identified that heritage procedures for controlling  chargebacks  and disputes were ancient. VCR was conducted in a more modern period for dis

  In 2022, chatbots are not just an invention but also a must-have for businesses that depend on interaction with customers, comprising financial organizations. AI-driven chatbots can affect human discussions, and fix clients’ problems in a couple of seconds. And also handle daily tasks, enabling human employees to easily perform more complicated and significant tasks. By 2024, online and mobile banking will most presumably help more than 2.5 billion, active users. Smart financial executives can change this vast customer-related factor of your business. It causes fintech chatbots, not only a robust tool but also a significant sector of your team. Excluding this, it is a profitable market unit that can also arrive at almost $7 billion by 2030. So, let’s understand how chatbots are supporting fintech in 2022. Also, specify the primary benefits of chatbots in banking and other fintech sectors. How are Chatbots Utilized in the Fintech Industry? As the  Fintech industry  is growing faster,

From the view of credit card payment processors, some enterprises are more dangerous than others. The aspects that move into specifying that risk can differ from persistent chargebacks to bad credit scores. WebPays has high-risk merchant account solutions for nearly any high-risk merchant. With over a 95.8% approval ratio. So, if you are in requirement of a  high-risk merchant account Europe (Albania, Malta, Cyprus, Netherlands, Italy) . We will provide you with complete knowledge of high-risk merchant accounts. Here are some specific areas where we have industry-ultimate payment services: Forex businesses Online Casinos & Gaming Nutraceuticals & Nootropics Credit Repair CBD Oil Guns & Firearms Collection Agencies Adult Toys & Entertainment Airline Tickets & Travel Tech Support What is a high-risk merchant account? A  high-risk merchant account  implies that payment processors and credit card networks regard the business as being more probably to default on its onl

  In functioning an online business, chargebacks are one of the primary issues merchants need to face during payment processing. But there are multiple ways to eradicate them. Proper management of the business’s website and good customer assistance plays a vital role in this. This blog specifies Ethoca Alerts Services. We will describe what is a chargeback, how it functions, how it can affect an online business and why a customer claims it. After all these factors, we will discuss ethoca alert services and how they can assist in controlling chargebacks. What do you mean by a chargeback? A chargeback occurs when a customer asks refund of money through their bank but not via the merchant’s website. This refund can occur if the delivered product or service does not fulfill the customer’s expectations. What is the procedure for a Chargeback? How does a chargeback occur? A customer accepts a product or a service but did not get satisfied with it. They contact their credit card issuing bank