4. What is the difference between online debit and offline debit?
The difference between these two debit choices is whether a PIN (personal identification number) is used at the point of sale. When a PIN is used, the transaction becomes “online” and funds are immediately withdrawn from the cardholder’s available funds. When an offline debit transaction occurs, the cardholder signs a receipt, much like a credit card transaction. Funds are not withdrawn from the cardholder’s bank account until the transaction
5. Are manual imprinters not considered in compliance with the new card truncation laws?
“Card Truncation” relates to electronically generated receipts. It is the ability of a terminal to mask or hide all but the last few digits of a card number on a receipt. Besides the obvious safety benefits to the cardholder, many states are now requiring merchants to provide truncation services in order to reduce the growing problem of electronic fraud. Thus, because imprinters are used manually, the card truncation laws do not apply.
6. What is a chargeback?
A chargeback is a transaction returned to you, the merchant, from the Issuing Bank/Cardholder when an account number does not exist or when a transaction posted to its Cardholder’s account is in question or in violation of established merchant card processing operating regulations.
To avoid retrieval requests, chargebacks and rejected items, learn a few recommended practices in our Chargeback Protection Guide.