To provide an incentive for issuing banks to issue more cards and acquiring banks to add more merchants and thus expand the network, the bank card brands established interchange. Interchange allocates the costs and revenues of the completed transaction between the issuing bank and acquiring..
Phishing Scams AboundWell, it was inevitable. In addition to popular bank phishing scams, cybercriminals are now targeting naïve consumers by claiming to be government officials. Scammers are sending emails that appear to be from the FTC, IRS, or DOJ.The FTC reports that corporate and banking..
Most internet merchants are now requiring consumers to enter the three or four digit number on the back of the credit card as part of the checkout process. The three digit code is known by several names: Card Verification Value (CVV); Card Validation Code (CVC); and Card ID (CID).The theory is..
Contactless card payments have been touted as the next big opportunity in payment processing. With a contactless card, a consumer simply waves a card at a reader rather than swiping the card. The best applications for contactless payments are high volume, relatively low ticket environments such..