General

What is an Issuing Bank?
The issuing bank is the institution that backs the cardholder’s credit card or other payment method. Typically, issuers are major commercial banks, e.g. Ch...
Fri, 22 Jan, 2021 at 11:39 AM
What is Friendly Fraud?
Not all claims of fraudulent transactions or customer dissatisfaction are legitimate. In some cases, a consumer abuses the protections of the chargeback pr...
Fri, 22 Jan, 2021 at 11:41 AM
What does Chargeback Ratio mean?
Chargeback ratio is a measure of how many chargeback claims a merchant pays compared to the total number of transactions the merchant processes. A char...
Fri, 22 Jan, 2021 at 11:35 AM
What is a Chargeback?
A chargeback occurs when a consumer or bank disputes a credit card transaction approved by a merchant, often due to fraud, and the merchant must return the...
Fri, 22 Jan, 2021 at 11:35 AM
What is AVS?
The Address Verification System (AVS) is a system when connecting to your customers issuing bank through your MSP’s processor, is able to verify whether th...
Fri, 22 Jan, 2021 at 11:41 AM
What is CVV/CV2?
CVV2 (Card Verification Value, Second Generation) is a three-digit value that is uniquely derived for each credit card account. It is printed in reverse it...
Fri, 22 Jan, 2021 at 11:41 AM
What is an MSP?
A Merchant Service Provider (MSP) is the company responsible for servicing your merchant account for your acquiring bank and is generally associated with a...
Fri, 22 Jan, 2021 at 11:40 AM
What is an Acquiring Bank?
An Acquiring Bank is a bank that is responsible for acquiring the funds from credit card issuing banks for transactions that were processed by your custome...
Fri, 22 Jan, 2021 at 11:39 AM
What is a Merchant Account?
A merchant account is an agreement between a merchant, an acquiring bank, Visa, MasterCard, and possibly American Express, Discover, Diners Club, JCB, etc..
Fri, 22 Jan, 2021 at 11:37 AM
How do I cancel or close my merchant account?
In order to close your merchant account, please send an email to support@paid.com with the business name and the reason for account closure. You will receiv...
Fri, 4 Oct, 2019 at 4:27 PM