The Open Library
In addition to Card Not Present.com’s feature content, our Open Library
is a repository of information, interviews, statistics, reports and opinion presented in one easily accessible location.
Visa’s chargeback reasons are organized into six general groups:
- Non-receipt of information.
- Fraud.
- Authorization error.
- Processing error.
- Canceled / returned merchandise.
- Non-receipt of goods or services.
The following tables list Visa’s Reason Codes and time limits for processing a chargeback.
Read them here...
CNP Expo Taps 'Shark Tank' Star as Keynote Speaker
Daymond John, founder and CEO of clothing brand FUBU and one of the stars of the ABC television show Shark Tank, will deliver the keynote address at the 2012 CNP Expo in Orlando this May.
Most recently, John has partnered with Shopify, a technology provider that enables entrepreneurs who want to engage in e-commerce to easily begin selling and taking payments online indicating that issues affecting CNP merchants—especially small and midsize businesses—have become very important to him.
“I can’t think of a better person to take the stage at the CNP Expo,” says Steve Casco, founder and president of CardNotPresent.com, the Expo’s organizer. “I think the name of Daymond’s company says it all. FUBU, which stands for ‘For Us, By Us,’ aligns perfectly with the philosophy and attitude that guides the CNP Expo. This show is for everyone. It isn’t just for merchants, CNP executives, vendors or new technology providers. Nor is it restricted to U.S. companies. It’s for everyone and its content is informed by every participant. We welcome Daymond and can’t wait to hear his message”
John, who turned a $40 investment in material to make hats into a clothing empire with more than $6 billion in sales since its inception, made his first nationwide splash at a trade show. Despite not being able to afford a booth at the 1994 Magic event in Las Vegas FUBU used the networking opportunity presented by the event to generate $300,000 worth of orders.
Use code CNPDJ15 for 10% off.
In addition to insights from John, the three-day event will focus entirely on CNP payment issues and foster an open and frank dialogue with respected experts from every corner of the CNP space. Merchants will especially benefit from a significantly reduced rate to attend.
Seattle area startup BYNDL, Inc. is a mobile transaction services joint venture based on technology first developed in Estonia to enable commuters to pay for parking with their mobile devices. BYNDL’s vision, however, extends well beyond parking.
The company’s mobile technology was initially invented in the mobile stone age—2001—as a project of the Swedish and Estonian telecom company Tele2. The system was piloted in Tallinn, Estonia that year, but because it was such early days for mobile payments the company “pretty much stayed focused on the Estonian market” according to Lori Salow Marshall, CEO of BYNDL. Tallinn now has 90% adoption of cell phone parking and Estonia has one of the highest penetration rates of mobile technology in the world.
Since 2006, though, the Estonian company—NOW!Innovations—has launched ParkNOW! pay-by-cell parking in Belgium, Macedonia, Slovenia and the U.K. In 2009, the ParkNOW! service was launched in the United States in Montgomery County, Maryland.
Read the full article...
Love joined Vantiv in July of 2011 as vice president of mobile strategy. Prior to joining Vantiv, he worked for Visa after his previous company, CyberSource, was acquired by the card network. Before that Love worked for terminal manufacturer Ingenico. Love sat down recently with CardNotPresent.com founder and president Steven Casco to discuss the mobile payments landscape.
CardNotPresent.com: What’s your role in the organization? What gets you up in the morning?
BL: Mobile, mobile and more mobile. I’m a gadget guy at heart. Slice me down the middle and there’s a product manger running about in there as well.
CardNotPresent.com: How many phones do you have on you right now?
BL: Just two, but I have an iPad, iPod Touch, Mac Book air and…we’ll stop there.
CardNotPresent.com: What are your responsibilities with Vantiv?
BL: Just one, really: mobile strategy. When you hear mobile strategy you think, “Oh my goodness, we can’t tell what’s happening three months from now, never mind five years from now.” But my job is to paint a picture of what 2015 could potentially look like in the United States from a mobile payments perspective.
Read the full article...
handpoint is a UK based company that specializes in mobile payments, accepting MSR, EMV and NFC payments on smartphones and tablets. handpoint was founded in 1999 by three engineering students at the University of Iceland, Davíð Guðjónsson, Magnús Þór Torfason and Þórður Heiðar Þórarinsson. Prior to founding handpoint they had setup an internet company in 1997 along with classmates from high school, but sold in 1999. Recently, Guðjónsson sat down with CardNotPresent.com’s founder and president Steven Casco to talk about the origins of the smartphone, EMV mobile solutions and why NFC will take longer to reach widespread adoption then people think.
CardNotPresent.com: Tell us about the origin of your company?
DG: We started the company in 1999 around the Palm Pilot technology. We had an Internet company in the early stages of the Internet era but we were competing with school kids. It was a low barrier to entry for dotcoms. I had gone to a Palm conference in California where I met Jeff Hawkins and was fascinated by the technology and its potential for growth. So we sold the Internet company in 1999 and got money to set up handpoint to focus on mobile technology.
Read the Full Article...
On September 26, 2011, the Federal Reserve Bank of Chicago and the Secure Remote Payment Council cosponsored an invitation-only symposium focused on security issues for remote payments. During this complimentary event, thought leaders from throughout the payments industry, law enforcement, academia and government convened to discuss issues related to Internet, mobile and card not present payments:
The following is a copy of Mimi Hart’s speech on fraud mythology in the payment world.
Thank you very much for being here today and for the privilege of allowing me to
present some ideas on certain myths that exist in the payment world regarding
fraud, and certain “false gods” that play a role in the fraud mythology.
The first is the myth of “the cost of doing business”. We all hear this expression
regularly - that fraud is manageable, that it’s tolerable and it’s just the cost of doing
business. Well whose cost is it really? When fraud strikes big, we’re NOT in this
together. If you get hit, it matters little if fraud losses “on average” are improving or
worsening.
The pain of fraud is not proportionate. We measure it in the aggregate, but you can only see the impact
when you look at the spikes on the graph. Consider Heartland or TJ Maxx or Sony. They could take
little comfort at the time of the breaches that payment card fraud could be expressed as a few basis
points "on average." We may work together, but when fraud strikes we suffer individually.
Risk of fraud in card-based payments cannot be hedged. No one indemnifies participants in the system
as it is, other than consumers who we all agree can and should get a free ride (sort of) if you don’t count
hours wasted, lost wages, worry and aggravation. That’s a penalty for fraud that we rarely quantify.
Next let’s ask, if this is the “cost of doing business” - whose business are we talking about? Issuers and
retailers allow security protocols in their own shops over which they have little control. But worse yet,
these protocols have yet to prove effective at the level of the breach. Read the full article here...
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