Did you recently get a chargeback in the mail? Are you needing to know how to dispute a chargeback and how long it takes to do a chargeback? After several years of research to compile statistical data, it takes the average person about 1 hour to an hour and a half to dispute a chargeback.…
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Are you receiving an overwhelming amount of chargebacks that you don’t have the time for? We understand how time consuming it can be to dispute a chargeback by the due date. We know your time is valuable. By working with a chargeback company that specializes in disputing chargebacks on your behalf, you will be able…
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The payments industry will see operational changes throughout its value chain. Here we highlight the operational changes we expect to see at acquirers, banks, merchants, and networks. 1. Acquirers Banks and acquirers would have to re-formulate and re-write their risk and underwriting policies to consider not just the TSR but many other industry-specific laws. These changes…
DetailsThe FTC’s effort to expand an acquirer’s responsibility changes the basic nature of the acquirer’s role, forcing acquirers to pass judgment on the legality of a merchant and the potential deceptive nature of its business. This effectively mandates that acquirers become the police force for merchant activity, which is not a role acquirers desire or are equipped to…
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Implications of the FTC’s Proposed Action The FTC may consider legal action that would seek to hold acquirers liable for “assisting and facilitating deceptive and abusive telemarketing acts or practices” per the Telemarketing Sales Rule, 16 C.F.R. §310.3(b) or under other legal theories. As we understand it, the FTC believes acquirers should be held liable for all…
DetailsSystemic Impacts to Payments Value Chain 1. Destabilization of Payment Network Acquirers today process over 25% of the entire U.S. GDP with a total exposure (as calculated using today’s risk models) of $21.5 billion. Should the FTC actions continue, there will be systemic changes along the entire payments value chain starting with the destabilization of the payments…
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