What Strong Customer Authentication really means for chargeback rates
Monica Eaton-Cardone COO and Co-Founder of Chargebacks911 and Fi911, features on FinextraTV to guide viewers through the changes that Strong Customer Authentication will impose to chargeback rates – from its impact on reason codes and how chargebacks are being filed to chargeback liability shifts. She will highlight how Transaction Risk Analysis will impact this liability and the different ways it…
What Is A Chargeback – Effect on Merchants
Chargebacks. For customers, it can be a legitimate form of protection, but for merchants, it can impact funding and potentially cripple a business.
Chargebacks, when done fraudulently by customers are known as friendly fraud. Learn what the repercussions can be for merchants and what to do if chargebacks come in.
Too many chargebacks can place your business in the high risk category. You could lose your processing account and need a high risk merchant account.
Whether you get a chargeback on paypal, stripe, shopify or a merchant account, it is important to address chargebacks immediately and attempt to resolve the customer’s issue before the chargeback process is initiated.
For more tips on how to properly protect your business from chargebacks or if you need a merchant account, visit: https://www.leappayments.com/merchant-service-solutions/chargebacks/ for more information.
► Learn more about High Risk Merchant Accounts: http://bit.ly/h1ghr1sk
► High Risk Credit Card Processing Ultimate Guide to Approval: http://bit.ly/AppR0v3Gu1D3
► Learn about our Next Day Funding: http://bit.ly/N3xTdAy
► Visit Us At: https://www.leappayments.com
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Twitter – https://twitter.com/leappayments
LinkedIn – https://www.linkedin.com/company/leap-payments
Instagram – https://www.instagram.com/leappayments
Music by Nicolai Heidlas Music: “Morning Sun”
Music promoted by Audio Library https://youtu.be/UzCFTyluxic
Outro Music by Nicolai Heidlas Music: “A Way For Me”
Music promoted by Audio Library https://youtu.be/Q-yp9a8gKD8
What Is Strong Customer Authentication?
Sign up for a free Jotform account at: https://link.jotform.com/d8hKhbZjdc
If you’re a credit card processor, bank, payment processor, or merchant, then you already know how important it is for customer authentication to be as strong as possible. In this video from Jotform, you’ll learn what strong customer authentication is, why it’s important, and how to implement it at your business.
LINKS & RESOURCES
What is strong customer authentication? https://link.jotform.com/xg3PtzXWrm
PSD2 regulation: How to be PSD2 compliant: https://link.jotform.com/lm5p9kAT51
Learn more on the Jotform blog: https://link.jotform.com/fw10vP8eBZ
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00:30 What is strong customer authentication?
01:30 Why is SCA important?
02:01 Everyone benefits
03:40 Subscribe to Jotform
Dev Chats: Strong Customer Authentication (SCA)
Strong Customer Authentication (SCA) is being introduced by EU regulators to reduce online fraud and make the internet a safer place to transact. By September 2019, most payments in Europe will mandate a second layer of authentication to finalize a purchase. As Stripe partners and API developers, you serve many users at scale through your platform, extension, product, or plugin. Preparing your Stripe integration in advance of SCA is essential to help your users minimize conversion loss.
00:00:00 Introductions and dev chat kickoff
00:00:38 Stripe.dev and where to find samples and tools
00:01:08 Key dates for developers
00:02:13 Stripe Works With Gallery & SCA
00:02:59 Agenda for this dev chat
00:04:25 Thor starts SCA overview
00:04:42 Overview of SCA / PSD2 payment regulations in Europe
00:05:37 Understanding two-leg” vs “one-leg” transcations”
00:06:55 What does strong authentication mean?
00:07:48 3D Secure overview
00:09:11 Payments that can be excluded from SCA
00:13:12 The challenge of SCA in a nutshell
00:15:02 Stripe Elements, Stripe.js, and the new Checkout experience
00:16:50 Stripe billing for recurring payments
00:17:20 Stripe.com/guides & resources
00:18:23 Docs & API Reference links
00:20:26 Walkthrough of the documention
00:22:46 Payment Intents API docs
00:26:00 Question & Answer Session
01:05:18 Follow up & next steps
Strong Customer Authentication Explained
Listen to our expert on SCA
Federico Gaffney, Senior Manager Payment Strategy Risk for Elavon Europe, talks us through the implementation of Strong Customer Authentication for eCommerce merchants
If you have any questions don’t hesitate to call us:
For Service UK 0345 850 0195 Ireland 1850 202 120
For Sales UK 0800 028 1662 Ireland 1800 995 085
You can find our payment terminals and other solutions on:
UK: https://www.elavon.co.uk/psd2 Ireland: https://www.elavon.ie/psd2
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Elavon Financial Services DAC, trading as Elavon Merchant Services, is regulated by the Central Bank of Ireland.
Elavon Financial Services DAC, trading as Elavon Merchant Services, is deemed authorised and regulated by the Financial Conduct Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.