This week brings you parades, fireworks, and time with the ones you love. Regardless of how you celebrate, I hope that you had an amazing 4th of July!
Here are segments of the recent Payment Smart newsletter that went out to most of the U.S. Bank/Elavon customer base.
Visa makes fraudulent chargebacks easier to challenge:
Visa has updated its chargeback rules, making it easier for businesses with card-not-present (CNP) claims to successfully challenge those they believe are first-party misuse or friendly fraud.
The rule relates to chargebacks that are based on false or erroneous claims, as when a customer accidentally or deliberately files a chargeback on a legitimate transaction.
Visa offers a technical overview of their refined compelling evidence criteria here,* but The Green Sheet, a payments industry publication, breaks down what the updated rule means for businesses.
“Visa’s Compelling Evidence 3.0 guidelines (CE 3.0 for short) expands the list of compelling evidence that a merchant can submit to their acquirer when challenging a chargeback based on claims of fraud. This might include, for example, details of prior uncontested transactions made by the same cardholder on the same website,” the Green Sheet article explains.
Read more HERE.*
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