Online Merchant

Skimming

Posted on 09. Feb, 2009 by admin.

Skimming is the theft of credit card information used in an otherwise legitimate transaction. It is typically an “inside job” by a dishonest employee of a legitimate merchant. The thief can procure a victim’s credit card number using basic methods such as photocopying receipts or more advanced methods such as using a small electronic device [...]

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Compromised accounts

Posted on 09. Feb, 2009 by admin.

Card account information is stored in a number of formats. Account numbers are often embossed or imprinted on the card, and a magnetic stripe on the back contains the data in machine readable format. Fields can vary, but the most common include:

Name of card holder
Account number
Expiration date
Verification/CVV code

There have been high [...]

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Rates and fees

Posted on 09. Feb, 2009 by admin.

A Merchant Account has a variety of fees, some periodic, others charged on a per-item or percentage basis. Some fees are set by the merchant account provider, but the majority of the per-item and percentage fees are passed through the merchant account provider to the credit card issuing bank according to a schedule of rates [...]

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Automated Response Unit (ARU)

Posted on 09. Feb, 2009 by admin.

An ARU (also known as a voice authorization, capture and deposit) allows the manual keyed entry and subsequent authorization of a credit card over a cellular or land-line telephone. With this method a merchant typically imprints their customer’s card with an imprinter to create a customer receipt and merchant copy, then process the transaction instantaneously [...]

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How ACH processing work?

Posted on 09. Feb, 2009 by admin.

ACH processing refers to move money electronically to the federal government’s assistance Automated Clearing House. This clearinghouse provides a centralized communications network that allows for both electronic funds transfer and notification of these transfers.
Essentially, banks have a pipeline (usually referred Fed Line) that connects directly into the ACH network. The pipeline allows the transmission of [...]

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