Online Merchant

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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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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Prepaid “credit” cards

Posted on 09. Feb, 2009 by admin.

A prepaid credit card is not a credit card, since no credit is offered by the card issuer: the card-holder spends money which has been “stored” via a prior deposit by the card-holder or someone else, such as a parent or employer. However, it carries a credit-card brand (Visa, MasterCard, American Express or Discover) and [...]

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Secured credit cards

Posted on 09. Feb, 2009 by admin.

A secured credit card is a type of credit card secured by a deposit account owned by the cardholder. Typically, the cardholder must deposit between 100% and 200% of the total amount of credit desired. Thus if the cardholder puts down $1000, they will be given credit in the range of $500–$1000. In some cases, [...]

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How credit cards work

Posted on 09. Feb, 2009 by admin.

Credit cards are issued after an account has been approved by the credit provider, after which cardholders can use it to make purchases at merchants accepting that card.
When a purchase is made, the credit card user agrees to pay the card issuer. The cardholder indicates his/her consent to pay, by signing a receipt with a [...]

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