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Also, keep in mind that the rules for MSC vary greatly compared to VBV. And if you have a lot of MC holders, you might re-consider your decision if you are based in the United States and those MC holders are in the US as well.
VbV works better than Secure Code. Still, good to have both. Here’s how it works. (works only for US transactions)
Visa VbV Eliminates virtually all Visa chargebacks. .
1.When customer submits payment info screen comes up There are 3 choices.
2.First “issuer does not support”. (The issuer is the bank the issues the consumer’s credit card) Most large banks participate so the first option only applies to very small issuing banks.
3.Second, “issuer supports but consumer is not enrolled”
4.Third, “issuer supports and consumer is enrolled.”
No matter what box the consumer checks you are still protected from chargebacks. The consumer does not have to enroll. As long as the merchant offers VbV, you are protected from chargebacks.
MasterCard Secure Code
1.When customer submits payment info screen comes up There are 2 choices.
2.Card holder is enrolled
3.Card holder is not enrolled. Cardholder can enroll at that point
Chargeback protection only if consumer is enrolled.
In my experience, a very high number of cardholders were not enrolled, and it seemed to generate a high number of, "what's this thing?" emails. Customer confusion is never a good thing.
I don't sell a type of widget that attracts fraudulent buyers, so YMMV. But my experience was not favorable.
The majority of our clients using VbV are either high risk merchants and/or high volume merchants w/ int'l customers
For example, we have a client selling herbal supplements that had chargebacks of 2% because they do auto ship. For this particular merchant vbv made good sense and was an important element in bringing chargebacks back under 1%.
Again many thanks for the replies
Once again many thanks for the replies.
As a US based merchant I sell internationally on both cards. When I sell outside of the US on MasterCard I'm protected regardless of whether the cardholder is enrolled.
I also heard a rumor that MasterCard will be offering blanket coverage like Visa byt the end of the year.
Also...if you take Maestro you have no choice you must run SecureCode or they won't authorize the transaction.
But as an international merchant running both programs you are virtual no longer liable for fraud across the board. Call your bank.