We are pleased to inform all our customers that our payment processor has finally updated our account. We are now able to show take payment using VISA and Mastercard using the 3D secure technology.
This is excellent news for both A1 Poppers and our customers.
What does this mean?
For our customers it means the payment method selection has been increased. You can now make payment using the following card types.
VISA, VISA DEBIT, VISA ELECTRON, MASTERCARD, MAESTRO
As soon as we add more payment methods we will let you know. You will also need to be registered in the relevant schemes to use your card for making purchases.
What it means for us… 3D secure was introduced by the credit card industry in an attempt to combat fraudulent card transactions. Over recent years credit card fraud has increased massively. This increase in fraud hasn’t been the sort of fraud most people think of. Most people associate credit card fraud with stolen credit/debit cards but recent years has seen fraud involving the genuine card holder.
For any business trading on the Internet or in any environment where the “customer not present” is risky, there is no safety net for business, support from credit card companies and payment processors is non existent. Transactions where the customer is not present means there is no chip and pin. If the customer disputes the transaction then the company ultimately loses any payment for that transaction and has to take steps to recover any money lost through insurance or the legal system, these are not normally cost effective routes to take.
Many people are realising this and are making lots of purchases, once they have the goods they are then going back to the card issuers and claiming they did not make any of the purchases. The card issuer then raises a chargeback to the company and the company has the money for them transactions taken from them. There is an opportunity for companies to dispute the chargeback, i.e. confirmation of delivery with signature to the registered address. but even with this concrete evidence as long as the cardholder continues to dispute the transaction the card issuer will refund the card holder and take the funds from the company. This was the card issuer does not lose out anywhere. Only the companies do.
In an effort to stop this type of credit/debit card fraud the card companies introduced the “3D Secure” & the “Verified by Visa” schemes. These scheme have been welcomed by businesses. This scheme means the customer has to be enrolled in the scheme to use there cards for online purchases. An account is created by the issuer and the card holder creates a user name and password. When making payment the card holder has to enter these details. Without them the transaction fails. By filling in the details and entering the correct password it cuts down fraudulent chargebacks.