1 / 4

Five Terrifying Myths About Payment Processing

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 u2018friends, co-workersu2019 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.<br>

webpays
Download Presentation

Five Terrifying Myths About Payment Processing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Five Terrifying Myths About Payment Processing https://webpays.com/five-terrifying-myths-about-payment-processing.html

  2. 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 account. Before the EMV responsibility diversion, credit card issuers had taken on the primary liability for preventing fraud on customer accounts. And it implies they would refund the customer, not the merchant. After that time, the responsibility for in-store fraud was diverted to the member that had not embraced the new chip technology. In most situations, the card issuing bank will still be refunding customers to accelerate the procedure. But they will attempt to get those funds from the merchant if they were not ready to receive EMV chip technology. Apart from your personal opinion of that, the EVM's responsibility diversion is not a laughing fact.

  3. Myth. 2 Biometric protection is safer and more protective than passwords. Fact: Biometric protection system is not as sure as we expected it would be. However, Halloween is the only time it is receivable to deliver your guest's severed thumbs as finger food. We all have watched movies where a smart spy takes help from the hand of a crashed-out protection cover to get into the confidential room. While most of us are not aware of someone severing our thumbs to order a burger or pizza on our credit card. So, there are wider significances to using fingerprints and retinal inspections. The major issue with biometrics systems is also their largest benefit, they are almost impossible to modify. This is related to the fact that it is effortless to send and accept digital images of our eyes or fingerprints. When Target marts had their notorious data breach in 2013, people shuffled to cancel credit cards and receive new cards. If they had preferred fingerprints for validation, they would have been in the record as well. This would also put every person at risk for their whole life, after a single theft at one location. So, if you have a security system that can be impossible to duplicate and change is the perfect system for a horrible movie.

  4. Follow us:

More Related