Across the Board

Blog on e-business and online payments.

Mr. Banks is actually a fictional character, but does some real work. This makes him PayLane's fictional employee of the year :)

All posts by Mr Banks:

MasterCard’s mobile payment system in Hungary

Since 25th October for the first time in Hungary and the first time in Europe, mobile phones are enabled to be used as MasterCard payment cards. A month ago Google launched in the United States (only!) a virtual mobile wallet called “Google Mobile” and now MasterCard Mobile is to be launched in Hungary (EU), just for a good start.

MasterCard chose Cellum, Hungary’s fast-growing developer of mobile payment solutions, to integrate bank cards into handsets.

Mobile phones will no longer be limited to offering voice, image and text transmission services only; from now on they will be able to transfer money as well.

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Jeff Bezos on customer service

If you make customers unhappy in the physical world, they might each tell 6 friends.
If you make customers unhappy on the Internet, they can each tell 6,000 friends.

– Jeff Bezos

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How to make your website perfect?

Are you currently setting up your website for your new online store and would like to make it safe, legible for your customers and compliant to the rules of financial institutions involved, such as credit card companies? There are some best practice rules ready for you…

Here are the rules you MUST follow…

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What everybody should know about CVV2

CVV2, CVC2, or just the card security code (CSC), are different names for the security features for credit and debit card transactions. CVV2 provides increased protection against credit card fraud.

How it works?

Imagine that you’re buying something over the Internet, fax, mail or phone. Since you’re not present in person, such transactions are called “card not present transactions”. Normally, you give your card to a merchant. You take it out of your wallet, you can present your signature or prove that you know the PIN. Somehow you prove this card belongs to you. Everything goes well…

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What rhymes with “buy”?

Among the many poems and nursery rhymes I read to my children, I found one quite amusing and I would like to share it with you.
It’s called “Teenage Princess”:

I know how it is to need money –
As much as I can get;
My teenager goes to the mall,
And I go into debt.
Most kids’ first words are “Ma-ma,”
She said “Vi-sa” with a smile;
She has a black belt in shopping,
And a package from every aisle!

By Joanna Fuchs

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What every merchant should know about required documents

When applying for a merchant account, you’ll be asked to fill out a merchant application. The application is typically standard across most merchant service providers with regard to the information collected on the application.

In addition to the application, you’ll be required to provide support materials as they relate to the business and owners. Required merchant account support documents are as follows:

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What every ebusiness should know about 3-D Secure

What’s your first thought when you hear “3-D Secure”? Well, unfortunately, I have to disappoint you – it has nothing in common with three-dimensional world. 3-D Secure adds another security layer to online payments.

This authentication method is based on a three domain model (that’s why it’s called 3-D). These three domains are:

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These verbs – credit and debit – seem to confuse people. So let’s see if one shall be happy if the bank teller checks their account and says for example:

The full amount of the purchase has been credited to your account.

Surely, as it means that the full amount has been added to the account. As a noun used by accountants credit means an addition to certain accounts.

On the other hand we have a verb debit and the incoming example. Merchant has recently refunded a purchase price of 123 USD to one of his customers but cannot see it in his billing statement, therefore asking the acquiring bank if his refund was successful. The acquiring bank replied:

The merchant has been debited on 12.03.11 with the amount of 123 USD.

So the money have been withdrawn from the merchant’s account and the refund was handled properly.

When a bank account has a positive or debit balance,it means the bank owes money to the customer; and if it has a negative or credit balance – the customer owes money to the bank.

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PCI Data Security Standards Rock

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