Dynamic Currency Conversion (DCC) is a service offered in the payments industry that allows customers to make purchases in their own currency when using a payment card abroad. It provides customers with the option to have the transaction amount converted into their home currency at the point of sale, rather than being charged in the […]
In the payments industry, a disputed transaction refers to a situation where a cardholder or customer questions the validity, accuracy, or integrity of a specific transaction made with their payment card. Disputes can arise due to various reasons, such as unauthorized or fraudulent transactions, billing errors, defective goods or services, or dissatisfaction with the purchase. […]
In the payments industry, a device fingerprint refers to a unique identifier generated from various attributes and characteristics of a device used for a payment transaction. It helps in identifying and tracking devices to enhance security and prevent fraudulent activities. Device fingerprinting works by collecting and analyzing different data points associated with a device, such […]
In the payments industry, decline codes are specific codes provided by the issuing bank or card association when a payment transaction is declined. These codes indicate the reason for the decline and help merchants understand why a transaction was unsuccessful. Decline codes are crucial for troubleshooting and resolving payment issues. When a transaction is declined, […]
In the payments industry, currency conversion refers to the process of converting one currency into another when conducting a financial transaction. It is commonly used when a customer makes a purchase in a currency different from the one used by the merchant. Currency conversion typically works by using exchange rates to determine the equivalent value […]
In the payments industry, a Code 10 Authorization refers to a specific type of authorization request made by a merchant to the card issuer when there is suspicion of fraud or potential security risks associated with a transaction. The purpose of a Code 10 Authorization is to discreetly alert the card issuer to the suspicious […]
In the payments industry, a chargeback threshold refers to the predetermined level of chargebacks that a merchant or payment processor can tolerate before certain actions or consequences are triggered. A chargeback occurs when a customer disputes a transaction and requests a refund from their bank or credit card company. The chargeback threshold is typically expressed […]
Chargeback arbitration, also known as second chargeback or representment, is a process within the payments industry that occurs when a merchant disputes a chargeback initiated by a customer. It allows the merchant to present additional evidence or arguments to challenge the validity of the chargeback and seek a reversal of the disputed transaction. Here’s how […]
In the payments industry, Cash Disbursement refers to the process of distributing cash payments to individuals or entities. It typically involves the issuance of physical currency, such as banknotes or coins, as a form of payment. Cash disbursement can occur in various contexts, such as salary payments, reimbursements, vendor payments, or other situations where cash […]
n the payments industry, a Cash Back Debit Transaction refers to a type of transaction where a customer can receive cash in addition to making a purchase using their debit card. It allows customers to withdraw cash from their checking account at the point of sale (POS) without having to visit an ATM or a […]
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