Visa

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Paypal considering Verified by Visa

What happens when you introduce one of the most widely targeted brand names, i.e. Paypal, with yet another highly targeted brand name, i.e. Visa? Can anyone say Chernobyl?
Seems in an effort to combat fraud, Paypal is in the early stages of considering the use of Verified by Visa and MasterCard (NYSE MA) Secure Code to […]

13Feb2008 | Riley Poole | 10 comments | Continued
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Is Verified by Visa Toast?

Visa spent over $100MM in marketing and developing the service. In 2007, they fired the person in charge of the Verified by Visa Program and in 2008, they are going to push back on the program even further. While at one point over 100 service providers supported it, today fewer than 5 of them actively […]

30Jan2008 | Riley Poole | 6 comments | Continued
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Why AVS Is Bad for Merchants

AVS, otherwise known as Address Verification Service, just doesn’t work. Banks know it, merchant service providers know it, and merchants should know it. Too often, AVS misleads merchants into thinking an order may be valid when it’s not. I’ve heard merchant after merchant say the same thing “but AVS said it was valid!” only to […]

28Jan2008 | Riley Poole | 4 comments | Continued
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Is PCI A Fool’s Game?

The challenge with PCI certification is simply that it is reactive instead of proactive. Virtually every rule set created is based on some previous bad act to create the ultimate in a false sense of security. The challenge becomes when you mandate that millions of merchants worldwide spend billions of dollars to become “compliant” you […]

26Jan2008 | Riley Poole | 4 comments | Continued
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Two Factor Authenciation Cracked

Over 400 banks worldwide, with more being added have been targeted for one of the most sophisticated trojan horses to date. The trojan horse not only manages to change an manipulate on it own but it is able to intercept two-factor authentication programs such as Verfied by Visa and MasterCard (NYSE MA) Secure Code.
Even the experts […]

19Jan2008 | Riley Poole | 7 comments | Continued
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Why Visa and MasterCard are Good Bets in Any Economy

As many of you may know, MasterCard (NYSE MA) is public, has been for over a year now, and has done incredibly well in the markets. Visa is expected to go public soon, I am betting some time in late April or May of this year. As the market continues to take one hit after […]

17Jan2008 | Riley Poole | 14 comments | Continued
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Check your Interest Rates and Grace Periods “AGAIN”

I always find it interesting when banks take an old tactic that has lost steam and just propped it up again. A few years back, many banks saw consumer backlash for holding onto payments past their grace period to ultimately charge consumers those pesky late fees. They add up, too: imagine paying $100 a month […]

17Jan2008 | Riley Poole | 10 comments | Continued
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Dynamic Currency Conversion is Dead

Have you ever traveled abroad only to find unusual small charges on your card from your bank or third party company you’ve never heard of? This year that will be a thing of the past. More so, you may even be getting a refund!
Card issuing banks have settled a class action lawsuit whereby card members […]

6Jan2008 | Riley Poole | 12 comments | Continued
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Why Online Merchants WILL NOT accept American Express

I love American Express, I know a lot of people out there don’t, but I think it’s a great company. They do a lot of good stuff for small businesses and they are very good at what they do overall. However, sometimes even the best of them screw up and hopefully by me pointing this […]

2Jan2008 | Riley Poole | 2 comments | Continued
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10 Things your Merchant Service Provider Will Not Tell You

1) Discount rates are ultimately set by Visa/MasterCard. Anything in excess of these rates are profit for the ISO, Merchant Service provider, and end-reseller. In the case of high risk merchants, these can be upwards of several percentage points per transaction.
2) Being on the TMF list doesn’t automatically exclude a merchant from being accepted for […]

1Jan2008 | Riley Poole | 3 comments | Continued
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