MasterCard increases security for US cardholders


MasterCard today announced enhancements to its industry leading security efforts, providing U.S. cardholders with greater protection from fraud and identity theft.

“Fraud prevention and detection is a 24/7 job at MasterCard. The changes that we’re making in cardholder protection combined with our efforts to move the U.S. payments Credit card terminalindustry to EMV chip technology will help deliver safer shopping experiences to consumers,” said Chris McWilton, president, North American Markets for MasterCard.

A credit card terminal is a type of a point of sale (POS) terminal that can do transactions with a credit card. There are a few types of credit card terminals are available to merchants. Most have the same basic purpose and functions. They allow a merchant to insert, swipe, or manually enter the required credit card information, to transmit this data to the merchant service provider for authorization and, finally, to transfer funds to the merchant.


All MasterCard credit, debit, prepaid and small business cards issued in the U.S. will now carry Identity Theft Resolution assistance. The program provides help in canceling missing cards and alerting credit reporting agencies, as well as targeting searches to detect if stolen personal and confidential data appears online.

MasterCard is also extending its zero liability policy in the U.S. to include all MasterCard PIN-based and ATM transactions. This is in addition to coverage already provided on signature debit and credit transactions. Cardholders will have greater peace of mind knowing that they are protected if their MasterCard-branded consumer or small business cards are fraudulently used in stores, online or at ATMs.

“Cardholder protection is a primary responsibility for payment networks. It’s a positive step that MasterCard is offering increased protections and peace of mind to its cardholders as the U.S. market prepares for EMV,” said Nick Holland, Senior Payments Analyst, Javelin Strategy & Research.

Banks and financial institutions issuing MasterCard-branded cards provide financial indemnity against fraud. The Identity Theft coverage extension begins in July 2014. The Zero Liability coverage extension takes effect in October 2014.

MasterCard and EMV

MasterCard continues to help strengthen the U.S. payment system for consumer and merchants by driving the move to EMV technology.

The U.S. card market is currently adopting newer chip card technology. Computer chips embedded in credit and debit cards generate dynamic and unique codes for each purchase, making it more difficult to steal data or create counterfeit cards. Chip technology is currently used in Asia, Canada and Europe and has reduced fraud in all of these markets.

MasterCard Incorporated (NYSE: MA) or MasterCard Worldwide is an American multinational financial services corporation headquartered in the MasterCard International Global Headquarters, Purchase, New York, United States.[1] The Global Operations Headquarters is located in O’Fallon, Missouri, United States, a suburb of Saint Louis, Missouri. Throughout the world, its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the “MasterCard” brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, MasterCard Worldwide was a cooperative owned by the 25,000+ financial institutions that issue its branded cards.

Free Wi-Fi Credit Card Terminal FD130

Free WiFi Credit Card Processing Terminal & Machine

Electronic Transfer, Inc. offers a new FD130 Credit Card Terminal FREE to our new retail FD 130 Credit Card Terminalmerchants. The FD130 offers Wi-Fi, Internet, Dial Up and Chip Card processing all in one unit.

EMV chip technology has arrived.
Is your POS terminal ready?
The FD130 Terminal allows you to accept payments quickly and gets you ready for the latest in EMV chip-enabled payment devices.
The FD130 Terminal from First Data is an affordable solution that combines performance, reliability and ease of use in compact, feature-rich devices. The best part is
the FD130 Terminal is ready for EMV technology, the new industry standard in security. The FD130 uses cutting-edge technology to enable you to accept transactions when a customer presents you with an EMV card; a card embedded with a special chip that adds an important layer of security. In addition to the added security, the FD130 Terminal gives you full range of solutions for payment processing, including credit, debit, gift cards, personal paper checks and EBT.

Here’s How It Works

The FD130 Terminal is all you need to safely and securely
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1. Installation of the First Data FD130 Terminal is simple,
with easy-to-follow on-screen prompts.
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Plus, you’ll now be able to accept EMV chip card
presented to you by your customers.
3. With the further addition of a check reader or
pin pad, you can also accept debit pin/signature
transactions as well as paper checks, which can
be transmitted in electronic form.
4. As an option, the FD130 also offers Dynamic Currency
Conversion (DCC) service, which makes it possible for
international customers to pay in their own currency.


Fast and Simple Set Up

As WiFi technology is now widely used in devices such as cell phones and printers, it follows that many people either use the technology or are at least familiar with it, so initial set up of the terminal need not be a daunting task.

In many cases, this can be achieved without the need for outside engineers.

Faster Transactions

Card transactions using Wi-Fi are almost instantaneous – especially compared to the older credit card terminals that use dial up and tend to be far more sluggish.

Speedy transactions can be highly advantageous to any merchant in terms of optimizing customer turnover, as well as to the consumer who, once they have made their choice of goods or consumed a meal, want to move on with their day as quickly as possible.

Convenience and Mobility

Having Wi-Fi card machines solves a few practical problems within a business. Firstly a business can employ several card machines throughout the premises, but only one base station needs to be plugged in.

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Gun Store Sued For Selling Guns

Dawn Nguyen was sentenced to 16 months in prison Monday after pleading guilty last month to falsifying firearms forms in June 2010 at a Gander Mountain store Rochester, New York. There she was accompanied by William Spengler, who wasn’t allowed by purchase a gun because he had previously been convicted of killing his 92-year-old grandmother with a hammer.

Nguyen paid $1,425 for two firearms, a semi-automatic rifle and a shotgun that Spengler eventually would use.

On Christmas Eve 2012, Spengler, 61, shot and killed his sister before he torched the home they lived in. When West Webster, New York firefighters responded, Spengler began shooting, killing two firefighters, Tomasz Kaczowka and Michael Chiapperini, and wounding two others, Ted Scardino and Joseph Hofstetter.

A day after Nguyen, now 24, was sentenced, the firefighters and surviving family members are alleging in a lawsuit filed in New York state court that the Minnesota-based Gander Mountain, the nation’s largest outdoors and sportsman store, should have known the buyer was a straw purchaser, the Minneapolis Star Tribune reported.

The litigation could be far reaching given the size of the retailer, which has drawn the backing of gun control advocates. The families are being represented by the Brady Center to Prevent Gun Violence, a pro-gun control group.

In a joint statement, the plaintiffs said they first believed this was “yet another random act of violence.”

“But as time went by, new and very troubling facts emerged,” the plaintiffs statement continued. “These facts suggest that the loss we have endured could have been avoided. If only the store had acted responsibly.”

The statement went on to assert the families respect the Second Amendment, and asserted some families are gun owners.

“But, we also believe that companies who make it their business to sell guns must do so in a responsible and lawful manner,” the statement continued. “And when sellers fall short in their responsibility, they should be held accountable.”

A spokesman for Gander Mountain told the Star-Tribune the company had been forthcoming in the investigation and is committed to safety.

“We will vigorously defend ourselves in this matter,” spokesman Jess Myers said.

The suit claims the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) warned gun dealers that indicators of a straw purchase include multiple firearms being bought at once or more than one person entering the store together and paying with cash, which plaintiffs claim the store’s staff should have known.

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Chargebacks – Friendly Fraud

Chargebacks are when a credit card processing company takes money back from a merchant to refund a consumer. It’s intended for disputes with a merchant when, for instance, a product never showed up, or arrived damaged, was unsatisfactory, or if the transaction was fraudulent.

Though this was never intended to be a default way for consumers to resolve issues with merchants, 98% of consumers who had filed for chargebacks from January through March this year did so without ever even contacting the merchant first, according to a survey by eConsumer Services, a company that acts as a middleman to help customers and merchants resolve disputes.

The reason is simple: Calling a merchant can be annoying. Between dialing, punching different keypad numbers to get to the appropriate department and waiting on hold, it can feel like forever before one reaches a human who can actually help. But requesting a chargeback is simple — and in some cases can be done with just a few clicks. Still, experts say contacting the merchant is the first step to solving a billing problem, and consumers might benefit in the long run by resolving disputes directly.

Merchants hate chargebacks. They pay $2.79 for each dollar incurred in fraud losses, according to a 2013 LexisNexis report. In many cases, merchants would rather solve a customer’s problem and avoid chargeback-related fees from banks, which could run up to $100. That makes them more likely to yield to customers’ wishes.

And while chargebacks were designed to be a means for consumers to fight back against fraudulent transactions, they also produced another result. “It created a new problem. It presented these banks and consumers with the option to get an alternative refund method,” says Monica Eaton-Cardone, chief operating officer of eConsumer Services.

Friendly fraud — a phrase used to describe cases where consumers report legitimate charges as unauthorized — has accounted for about 20% of merchants’ fraud losses for the last four years, according to the LexisNexis report.

About half of chargebacks go unfought by merchants, according to a 2013 report by the anti-fraud payment technology company SecureBuy. “It’s gotten so bad that some merchants simply refund the customer without challenge, in order to avoid, at any cost, excessive chargebacks that could put their ability to process at risk,” the report says.

Financial institutions have 10 business days to complete an investigation, under the federal Electronic Fund Transfer Act. For consumers who are considering filing a chargeback, experts say there are some guidelines to bear in mind.

Contact the merchant first

Merchants feel the sting each time customers ask for chargebacks, so they’re likely to work with customers who communicate directly. A Wells Fargo spokeswoman said it could take up to two billing cycles to investigate a claim and the bank sometimes asks for relevant paperwork, like proof of an attempt to resolve the issue with the merchant.

Keep a paper trail

Save receipts, letters or emails to the merchant, recordings of phone calls to customer service and any other related documentation. Get proof of returns. Paperwork also means you don’t have to worry about forgetting dates. (Also see: What consumers can learn from Donald Sterling’s ex)

Get a second opinion

Some financial institutions, like Wells Fargo, recommend consumers get a third party expert’s opinion if a dispute revolves around the quality of an item or service. That will bolster your claim that the merchant didn’t meet expectations.

Don’t lie

The chargeback was designed as a protection for consumers in the event of fraud. Beyond the potential moral implications of lying for a refund, experts say crying wolf can make companies leery of your claims, making it tougher to get your money back when you eventually face a real problem. Or worse, a card issuer could close your account if they catch you making false claims for chargebacks, says Greg McBride, a senior financial analyst for “It does raise a red flag that not too many people have that bad of luck.”

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