The newly-named Visa Dispute Monitoring Program (VDMP) takes effect October 1st, along with stricter thresholds for allowable disputes.
In May we talked about Europe’s revised Payment Services Directive (PSD2), what it means, and what Segpay is doing to ensure merchants are in compliance. With PSD2’s September 14th start date less than a month away, we thought this was a good time for an update on where things stand and what will change for Segpay merchants under these new EU regulations.Continue reading “PSD2 Update: What Merchants Should Know”
YNOT took a detailed look into content the major credit card brands deem acceptable (or not) for sites taking online payments, and how merchants often must balance free expression with the necessity of getting paid for their work. Segpay CEO Cathy Beardsley was interviewed for the piece and provided insight from the payment processor’s point of view:
The Prostasia Foundation is hosting a full-day workshop called, Internet Platforms, Sexual Content and Child Protection, May 23rd from 9:30-6 in San Francisco, in which a diverse group of experts answers the important question:
How can Internet platforms protect children from abuse, while preserving space for legitimate sexual expression and discussion online, and minimizing risk?
Cathy’s latest XBIZ.com piece, Major Card Brands Roll Out New Changes, focuses on recent updates from Visa and Mastercard aimed at reducing chargebacks, while highlighting advances in the anti-chargeback tools at our disposal, including 3-D Secure 2.0 and Visa’s Merchant Purchase Inquiry program.
While rules are getting stricter, the tools we can use to fight chargebacks are stronger than ever…. (Visa) will allow processors supporting VMPI to respond to a bank inquiry almost immediately, ensuring it does not become a chargeback.
Last year Segpay was re-authorized as a Payment Institution in the UK, and, by extension, the EU as well. It’s an important designation that tells merchants that a processor adheres to stringent governmental regulations around payment and data security, as well as anti-money laundering (AML) and counter-terrorist financing laws. In the EU, payment processors who provide settlement to merchants require a license, highlighting the importance of demonstrating compliance with these laws to ensure funds are safe.
A quick follow up to our post from last month about the revised deadline for complying with age verification regulations in the UK. According to a BBC News report, the new deadline is July 15th. As a reminder, we have teamed with AV Secure to make it easy for Segpay merchants to implement an effective solution from an established provider. Please contact your sales rep or firstname.lastname@example.org if we can help.
Please check out Cathy’s latest XBIZ piece, The Rocky Road of Regulations in 2018, in which she recaps the litany of new rules and other challenges our industry had to navigate during the past year. The good news: we’re all stronger for having gone through the process of dealing with everything that came at us in 2018.
When it comes to the content on our merchants’ websites, we are extremely open minded. However, the credit card brands – Visa and Mastercard in particular – have pretty specific guidelines about what is allowed and what isn’t. A big part of Segpay’s role is in making sure our merchants are staying in compliance with these guidelines. Cathy’s latest piece on XBIZ.com, Taming the World ‘Wild’ Web, discusses what you need to know about content guidelines to avoid fines.
One of our responsibilities as a biller is to scrutinize content on the websites where we process, because inappropriate content can lead to serious consequences with the card brands. Even not having enough content can be a problem – not because it leads to fines, but because it can be a predictor of chargebacks.
If you saw our recent trade show recap, or attended the shows yourself, you know that the EU General Data Protection Regulation (GDPR) was a hot topic. As well it should be – the GDPR goes into effect May 25th of this year and will impact the way EU merchants, and all businesses that process EU customer data, do business going forward.