Technology to Fight Fraud
EMV is a security standard developed for payment cards and mobile card payment security. While there is no official deadline for merchants to be compliant with the new EMV standards, the liability shift on October 2015, meant merchants who are not compliant could be held liable for certain types of credit card fraud.
Installing EMV-compliant equipment is a smart decision though. Chip cards offer more protection from fraud than magnetic stripe cards. With RisePay's point of sale terminal solutions, your can process in-store EMV chip card transactions, which offer greater security to reduce fraud liability and maintain customer trust.
Encryption helps protect merchants from data compromise by changing sensitive cardholder data and making it unreadable within the merchant’s environment. Encryption protects customer transaction data in transit from the time the card information is read at the point of sale to when it reaches the processing center. Encryption conceals sensitive payment information rendering it useless to hackers. This added security can also help reduce the scope of compliance requirements for merchants.
The Payment Card Industry Data Security Standard (PCI DSS) is an evolving framework designed to protect cardholder data. This multifaceted security standard outlines the minimum requirements that must be in place for security management, policies, procedures, network architecture, software design and other critical protective measures. The card brand rules require that all merchants comply with their standards.
RisePay ensures these standards are followed, and compliance is maintained, thereby making your payment processing more secure.
Who Must Comply with PCI Standards?
If you process, store or transmit cardholder data, you must comply with all aspects of the standard at all times. Even if you outsource most or all of these functions to a third party, you still have compliance and validation obligations. If you don’t comply, you are putting your business and customers at risk and you could lose your ability to accept credit cards. RisePay can help. To make it easier for you to comply with the PCI DSS, using the PCI Data Security Standard as the framework, we have developed a Risk and Compliance Engine to help you protect your business and give you peace of mind.
Protecting You, Your Customers, and Their Data
While larger businesses may have more resources than smaller businesses to deal with the repercussions of a breach, no one is immune to data theft. The challenge to protect payment card data impacts merchants both large and small, and it’s constantly changing. That’s why we offer unparallel guidance to help you be more secure and stay continually up-to-date on the latest in card data security. We’ve partnered with best in class leaders in the industry, to help simplify the process so you can achieve and maintain your compliance year after year.
Our comprehensive prevention and recovery program helps you reduce chargebacks and recover lost revenue.
A chargeback is when a consumer instructs their bank to reverse a transaction they have made. The consumer’s bank will take the money associated with the transaction out of the merchant’s bank account without notice. Consumers are expected to try and settle any problems directly with the merchant before filing a chargeback, but they don’t always do that. Too often, the first time a merchant hears about a dissatisfied consumer is after the chargeback has already been filed.
1. Chargeback Alerts and Prevention.
The unique alert system developed by Chargeback Fighter allows businesses the opportunity to turn chargeback claims into refunds. Simply by monitoring chargeback claims as they are created, we’ve helped many businesses reduce chargebacks by up to 40% using this program alone.
How it works:
- Chargeback Filed: Your customer calls bank to file chargeback.
- Alerts Merchant: Our alert system notifies the Merchant of the chargeback.
- Refund Opportunity: This creates an opportunity to provide a refund to the customer before the chargeback is processed
2. Chargeback Defense.
Chargeback Fighter uses a customized approach to conduct an in-depth analysis of the supporting documentation and data in order to dispute every chargeback and recover lost funds. The program enables merchants to seamlessly be engaged with a team of Chargeback Specialists that will manage the dispute and chargeback process.
Included in the Chargeback Defense:
- Detailed in-depth reporting providing analytical information to understand why chargebacks are occurring
- Chargeback Specialists with extensive expertise in the chargeback industry
- Assistance with disputing and monitoring all chargeback cases
- Loss mitigation and risk management
- Performance based billing model
- Continual education and assistance to further prevent chargebacks
- Merchant online access to monitor and track the progress of their chargebacks
- Dispute chargebacks on active and closed merchant accounts
- Recover funds lost due to chargebacks
- Assist merchants to minimize risks and liabilities while maximizing profits
- Reduce chargeback volume
- Protection against unforeseen chargebacks