merchant card services


 


  

  

  

  

merchant card services

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Credit card fraud is a kind of fraud where a merchant (business, service provider, seller, etc. ) is "tricked" into releasing merchandise or rendering services, believing that a credit card account will provide payment for goods/services. The merchant later learns that they will not be paid, or the payment they received will be reclaimed by the card's issuing bank.

Typically, the fraudster causes a credit card of another person to be charged for a purchase. Today, half of all credit card fraud is conducted online, meaning that the fraudsters make online purchases with the credit card details of other people.

Types of Fraud

Mail Non-Receipt Fraud

Mail non-receipt fraud occurs when a thief intercepts a replacement card sent to the legitimate cardholder and uses it. Monster Merchant Account is an online merchant account provider for real-time or
batch credit card processing services.
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