56

I see three possible reasons: He doesn't have a secure way (or any way) to manually enter card details. Most payment terminals have a keypad and can support manual entry (or PINs), but everything else in the ecosystem has to as well. If he doesn't have a way (or doesn't know how) to get the terminal to prompt for manual entry, then that's not an option. ...


52

It means that the merchant (here, a university)'s process is to deceive their processor by falsely submitting the charge as a "CVV2 with Magnetic Stripe failure" transaction. Having the card present during a transaction reduces fraud, so the card issuer and processing network are less likely to incur fraud investigation costs (or even eat the whole charge), ...


42

The Financial Services (Distance Marketing) Regulations 2004 say in Section 11: Subject to paragraphs (2) and (3), regulation 9 does not confer on a consumer a right to cancel a distance contract which is— (a) a contract for a financial service where the price of that service depends on fluctuations in the financial market outside the supplier’s ...


37

This violates PCI-DSS They are only allowed to use security code or fullstripe data momentarily during a transaction. They are not allowed to retain it, even for a minute. Even worse, this form has the fivefecta of the 3 credit card fields, cardholder name and Billing ZIP. That's all you need to plug into most website order forms. This document ...


28

Using the physical card or not are two different scenarios, namely "Card Present" and "Card Not Present" (also known as MOTO as in Mail Order / Telephone Order). They may involve different contracts, different rates, different risks, and different equipment. Some contracts will simply not allow Card Not Present transactions. You need to actually use the ...


26

The reason that they are asking for it is because they need it in order to process the credit card payment. They are required by their credit card processor to enter it. If you do not provide it, they will not be able to charge your credit card. If you want to pay for this service with your credit card, then yes, you should provide them with this code. ...


9

I gather from your question that you have 2 bank accounts, and your agent (seller who sells assets you owned) posted the proceeds to the wrong bank account, but it’s still your bank account that the money went to. (Frame challenge) Instead or reversing the transaction and taking the risk that the seller doesn’t get it right this time, or that they just ...


9

I had a similar offer recently from a seller from whom I had previously bought a product. They specified that I had to buy a particular product, leave a 5 star review for it and then email them with my PayPal account and they would pay me back the cost of the purchase via PayPal. Obviously there’s a chance this is a scam against the buyer, but I actually ...


7

This is completely insecure and personally, I wouldn't supply the info. As you've reasoned, you will have no idea how your information is used once it's left your hands, and you'll never know if it's been disposed of properly (shredded/destroyed). Furthermore, the fact that they follow such insecure practices tells you that at the institution level they ...


6

Placing all of the information required to authorize a card not present transaction on a paper form that will be subject to potential mail theft of skimming in the office is not a particularly good idea. Other answers mention things the school should do. This is not a helpful way to think about the problem... you are not the school and have no agency over ...


6

You make a charge, your bank receives the request and texts your phone to say, "did you authorize this?" And you respond yes or no. If you say no, you can't walk out of the store with the stuff, and the store has nothing on file but a one-time request number. There are payment systems that work exactly this way. I believe the largest is Alipay (primarily ...


5

The reason I would consider most likely is "liability shift". When a card transaction is flagged as fraudulent, the issuer will check whether the merchant who accepted the payment met agreed standards of: Security: is the payment system properly isolated, access to card details strictly controlled, etc Authentication: did the customer provide evidence that ...


5

Google pay delegates payment processing to other providers who are charging the merchants fees already. They do not charge their own fees (from https://developers.google.com/pay/api/faq): Does Google Pay charge any fees? Google Pay doesn't additionally charge users, merchants, and developers additional fees to use the Google Pay API for payments. ...


5

I've done this, they sent me the money via paypal first, I bought the item and then wrote a review. Nothing was done directly through amazon, so it wouldn't appear as a heavily discounted item. (i'd got into contact from replying to a spam email as I was bored). They didn't tell me I had to write a five star review, but could tell they were expecting it. ...


4

If you have a good product, I wouldn't worry about it. You just have to accept some amount of chargebacks as the cost of doing business. Using a provider that offers buyer protection is likely to increase your overall sales, and this should more than compensate for the small percentage of users that unethically use the chargeback mechanism to avoid paying ...


4

A credit card transaction can take place in two steps if the final amount is not known at the time of verification or if there is necessarily going to be a delay between when the vendor needs to know that funds are available and when the vendor is entitled to those funds. In your case, the vendor needed to know that the funds were available before they ...


3

Assuming his terminal is even set up for manual entry, I'm going to guess it's one of two things, it's a lot more work that he doesn't want to do, or he's worried you'll claim fraud later and then he's out item and price.


3

You're putting the cart in front of the horse. I'm going to go out on a limb and assume that the "a lot about financial information being stolen" you've read, no one ever pointed out that fraud amounts to a part of one percent of transaction volume. Everybody LOVES credit cards, and I mean everybody. Merchants will sometimes be in the news complaining ...


3

When you use a debit card or credit card at a gas station they generally put a hold on the account for an amount such as $50 or $75 or $100. The amount may vary depending in the gas station and the card being used. What they end up charging is the exact amount you buy, but the pump cuts off when that maximum amount is hit. During periods where gas prices ...


3

The three (or four) digit number on the back of your card is called a CVV (or a CVC). In theory, being able to provide it means you have access to the physical card, and thus presumably are an authorized user. No one involved with credit card processing (the merchant, their processor, their bank, etc) is allowed to store it, so as to enforce that meaning. ...


3

In order to do that, merchants or payments-companies are using mechanism of tokens: when a customer is registered to the service or during the first payment the customer is required to pass its payment method details (the card credentials). Then the company that supply the service store a token that hold the data of the card and then in additional use the ...


2

Since this is your first credit card there's a very good reason to not pay before they send your statement: You want to have a balance on the statement date so it gets reported to the credit bureaus. You want that paid-as-agreed to show up on your credit report and if your balance is zero on the closing date you might just get a zero instead. Zeros don't ...


2

They pay higher merchant fees for card-not-present transactions. This is often the case for shops that sell high-price-tag items; they don't care about per-transaction fees, but haggle hard to get the best percentage fee. Those best rates come with strings attached. There may be a high level of scams run on these items. They fear (reasonably or otherwise) ...


2

Neither iDeal nor Trustly are (currently) supported. See the Google Pay FAQ for supported payment methods here: https://support.google.com/googleplay/answer/2651410 Please note that PayPal is supported in Google Pay and through that you should indirectly be able to use all methods PayPal supports, including your bank account.


1

You have quite a few things playing in your favor for option 1): PayPal buyers protection process for "Item not received" is a countdown, internally. You start it, the vendor is under pressure to provide proof of sending the package. It is free for you, has little binding legal effect on you, and immediately puts pressure on the vendor. The only place ...


1

In 2014, the Washington Post reported that some US banks reordered transactions to maximize overdraft fees. This was perfectly legal, though underhanded. I do not know what the current state of affairs is. This is the type of issue the Consumer Financial Protection Bureau was created to address.


1

Your URL you included in your question: https://www.ncdor.gov/taxes-forms/collections-past-due-taxes/payment-options even includes the phrase: collections-past-due you should be looking at the section of the state website: https://www.ncdor.gov/file-pay for information regarding how to pay your taxes.


1

Well, first, one of the highest priorities for the credit card companies is making the transaction as frictionless as possible. That's one of the major selling points to cardholders and merchants: cardholders like credit cards because it makes it easier to buy stuff, and merchants like credit cards because it makes people buy more stuff because it's easier. ...


1

You sell on a third party site which will outline the terms of use on their platform. For your interests, their terms of use and policies are effectively the law. Actual legal concerns on your end would be limited to the legalities of your product alone. You can always reach out to third party venues to see if their support will meet you somewhere in the ...


1

When a user signs up to such services they will at some stage enter their payment details be this a credit/debit card or the details for an online payment platform such as PayPal. The required details can then be stored by the company for future reference. Online payment platforms have their own ways of working but in effect once an organisation has your ...


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