Forum Moderators: buckworks
My first concern is, of course, if they actually live up to their guarantee. I'm also concerned about whether the guarantee covers non-US credit cards. We don't tend to get very high quantities of those, but they are by far the most time consuming to screen for fraud.
The order system modifications would be needed because our way of doing business doesn't allow for real-time processing. We make our widgets to order and often have to manually modify final totals to account for any number of customizations (as well as international shipping totals based on finished weight and method availability). I'm unsure if it's been done, but I've half a thought about creating a form with the previously submitted data where we could send larger and non-US orders to only after we've manually checked and recalculated it. From there they could enter their payment and be sent through the Transact-secure system (and then to be automatically authorized). The extra customer interaction would make such a system unworkable for smaller orders, but we already need additional responses from customers placing the above types of orders.
As I haven't really heard of this type of process before, I'm unsure whether I can reasonably expect it to be covered in any agreement with a company like Transact-Secure.
::sigh:: I'm getting truly sick of the sheer amount of processing time we have to spend just to verify non-US and alternative shipping address orders. We're seriously considering just not accepting those at all, as much as I'd hate to do that.
I have posted way too many threads so far about this issue, but it seems that whenever I come to this forum people constantly bring it up.
IMPLEMENT VBV and MCSC
I am guaranteed payments on 100% of my VISA and more than half of my MasterCards. For the first time since I started my company in 1999 I am finally guarnteed payments on my credit cards as if they were a brick-and-mortar transaction. I can accept transcations and get paid on cards that wouldn't go through my previous fraud screening. What I can also do is accept expensive transactions that have differing billing and shipping addresses, and be worry free.
If you are interested I will set you up with my vendor, who is the number provider of this in the world. I can't believe most of you people aren't aware of this already, its so huge for us as merchants.
PS. This also has nothing to do with the cutomer being enrolled either, as most people assume. 100% of all VISA cards. Period.
We can't implement either of those systems from what I can see. There are a number of exceptions listed on their Authorizenet documentation which would exclude us. Those wouldn't allow for the separate processing for certain orders which I mentioned in my first post.
I understood that VBV works only with 2 of the possible chargeback codes, is that still true? Have you ever submitted a claim? If so, how did it work out?
-I was wondering if you could tell me what some of those exceptions are?
-I have a vendor who could accomodate you with what you stated before though, I believe but I would need to know what those limitations are though.
-It works for reason codes:
Visa: 23, 61, 75 International: 23,83
-Visa guarantees payment on 100% of their transactions. The reason codes it covers are the ones that apply to credit card fraud and "I didn't do it complains." These are undisputible claims, and as merchants we will be forced to pay these without appeal. With VbV implemented you will not even be notified of a chargeback or even incur a chargeback fee.
-The reason codes it doesn't cover have to do with damaged merchandise, wrong item, never sent, etc. So the reason codes that aren't covered deal mainly with guaranteeing that the merchnat holds up their end of the deal. Simply put, with VbV if you hold up your end of the deal you will always be paid as a merchant.
Your Web site must be integrated directly with the payment gateway via the Advanced Integration Method (AIM)
Your account must not be integrated with the payment gateway via a shopping cart solution
It seems to me that having to complete an additional form (that, according to Visa's estimates, takes 5-10 minutes to complete) before placing the order would significantly decrease conversion. Has anyone tested this?
If it only allows the password, but does not require it, I assume the protections only apply to the password-verfied orders. Better than not having it, though, and maybe better than requiring it from all if conversion goes down.
MQ
I am running VeriSign's "payflow pro" and we registered for it directly from their provider in the same way you would. VeriSign's provider is the same company that offers it for authorize.net, Cardinal Commerce. They are an amazing company and can configure the program specifically for your site. You can register online are give them a call.
www.cardinalcommerce.com
"After reading some of the threads on this topic, it seems clear that many merchants here have a major misunderstanding about the coverage of Verified by Visa. If you have the software in place on your site, you are protected from 100% on all consumer Visa cards, regardless of whether the cardholder/shopper is enrolled or active in the program. As a merchant who has been employing VbV for the last 3 months, I will tell you that 64% of my transactions are Visa cards trx and they are all covered. I have not had a fraudulent trx since I turned the service on and it has saved my company over $300K since Sept 03.
I'm just tired of posts that say that only a small percentage of shoppers are covered by this. ALL Visa cards are covered. Period. If you want more info, call your Visa rep, but don't listen to all the 'rumours' that are floating around because they are false. I know a lot of us merchants feel that Visa had burned us or is not on our side in the past, but VbV is the real deal, and it really does protect you."
Rally X
No, I don't use sim. I explained some of my idea to get around my business's requirements in my intial post. However, it's not going to be worth the programming, setup and lost conversions for anything but a full anti-fraud solution which will allow us to skip the huge amount of processing time we currently spent culling out fraud orders for our higher risk transactions such as International. Does VbV really qualify? I've only seen it described as a partial solution.
It will guarantee 100% of your VISA transactions. Period.
It will allow you to ship internationally without the fear of fraud.
It will aslo allow you to accept international transactions without the fear of fraud because you are guaranteed payment, or the return of merchandise as long as you properly hold up your end of the deal as a merchant.
Be advised that Verified by Visa only works if the card issuing bank is participating as well.
In terms of MasterCard SecureCode he is right though. You are only protected on cards that were issued by a bank that is participating, but MasterCard is planning on following suit in November. They will adapt to the 100% coverage just like Visa. I'm covered on about 15% of my MasterCards right now.
