1. Guides

While accepting electronic payments provides convenience to your business and your customers, card acceptance presents risks that are different than other payment systems. To speed up the payments process, card issuers send funds for payment transactions to the Acquirer at roughly the same time they receive the settled transaction. As a result, all card payments are subject to reversals, adjustments, and chargebacks.

Each card network has individual rules that identify the procedures and responsibilities to each party (Acquirers and Issuers). Merchants are also bound by the card network rules as well as applicable laws and regulations outlined in the Moov Platform Agreement available here: https://moov.io/legal/platform-agreement/. The card network rules also give rights to the cardholders to dispute transactions, which, in some cases, may be a considerable amount of time after the payment has been made.

Moov does not determine if a transaction is charged back and is not in control of the resolution of any chargeback. Moov will facilitate disputes of chargebacks on behalf of merchants; however, the decision on whether to reverse a chargeback is up to the Issuer and, in some escalated cases, up to the card networks themselves. As the merchant, you are fully responsible for all chargebacks and adjustments associated with the transactions that you submit for processing.

This Merchant card Acceptance Guide presents best practices for your business associated with the acceptance of Visa, Mastercard, and American Express transactions. The best practices and educational items listed herein are designed to help decrease liability and ensure compliance with the network rules.

For complete and specific rules for each network, please refer to the following URLs:

• American Express Merchant Operating Guide
• Mastercard Rules
• Visa Core Rules

Processor & acquirer information

Important merchant responsibilities

• Ensure compliance with cardholder data security and storage requirements.
• Ensure fraud and chargeback levels stay below card network thresholds.
• Review and understand the terms of the Moov platform agreement.
• Comply with card network rules and applicable laws and regulations.

Card acceptance

Authorized cardholders

A cardholder may not authorize another individual to use his/her card for purchases. Verify the name on the card matches with the individual making the purchase.

Deposits & delayed delivery

In some cases, businesses may require delayed delivery transactions or cardholders leave a deposit toward the full amount of the sale. In these cases, transactions for deposits paid and future delivery of the products and/or services should be two separate transactions.

We advise noting the receipts with “deposit” for any deposit transactions and “balance” or “pay-off” for the final transaction to pay off the balance of the original sale. Where possible, it is recommended to obtain the cardholder’s signature, agreement to terms, contracts, etc., that outline the terms of the sale and payments associated with the sale.

Recurring transactions

If your business processes recurring transactions for goods and services such as monthly insurance premiums, subscriptions, membership fees, etc., you should obtain cardholder approval for the ongoing charges. We recommend the approval including the following:

• Cardholder name
• Address
• Card Account number
• Expiration date
• Recurring schedule (dates, amounts, frequency, etc.)

If the recurring product/service is renewed and if the agreement is materially changed, you should obtain an updated agreement with the updated information indicating their agreement to the continuation of the charges or agreement to the continuation of the charges with the new terms. If a cardholder provides notice of cancellation, you must immediately cancel any future transactions. To maintain appropriate documentation, we recommend you indicate “recurring transaction” or “signature on file” on receipts in the absence of a cardholder’s signature.

At the time the recurring schedule is initiated, we recommend submitting the CVV, CVC2, CID as an added layer of security; however, this information should not be stored or transmitted on future recurring transactions.

It is recommended that you maintain periodic contact with the cardholder to:

• Verify their information (card number, expiration date, billing address, etc.) is still accurate.
• Provide them with your Customer Service Number and cancellation instructions.
• Notify them of the next billing date or subscription details (frequency, amount, etc.) and the number of payments remaining if applicable.

In addition, the following are recommendations for any recurring billing customers to prevent future chargebacks:

• Ensure that the process for cancellation is simple and process cancellation requests promptly.
• Clearly disclose all material terms and conditions, including whether the recurring plan will continue until canceled by the cardholder.
• Provide clear refund policies for cardholders who cancel after a recurring payment is made.
• Send reminders of upcoming payments with an option to cancel.

General card acceptance practices

The following are suggestions based upon rules established by the card networks. However, please review the rules linked in the introduction to ensure compliance with each card network’s set of rules. Failure to comply with any of the card organization rules may result in fines or penalties.

• You must prominently disclose the following to the cardholder at all points of interaction:
  • Your business name.
  • The physical address of your business must be disclosed before the cardholder is prompted to provide card information.
• The minimum credit card acceptance amount cannot exceed $10.00 and must be applied equally to all cards regardless of issuer or card brand.
• Minimum acceptance amount for debit cards are prohibited.
• Maximum credit card acceptance amounts cannot be implemented with few exceptions such as federal government entities or institutions of higher learning.
• Surcharging is not allowed for transactions processed on a debit card.
• You cannot make the acceptance of cards conditional in a way that violates card network rules, including by setting minimum or maximum transaction amounts (except for credit cards) or by requiring a cardholder to waive the right to dispute a transaction.
• Tax must be included in the transaction amount and cannot be collected in cash.
• You cannot require the cardholder to supply any personal information (e.g., home or business phone number; home or business address including zip code; or driver’s license number). The exception to this is for mail/telephone/Internet orders or delivery-required transactions, or as otherwise permitted by applicable law.
• You cannot submit a new transaction for a previous transaction that was subsequently charged back.
• You must create receipts for all card transactions (both sales and refunds) and deliver a copy to the cardholder.
• You cannot submit a card transaction to cover a bounced check or rejected ACH payment.
• You cannot submit any transaction representing the refinance or transfer of an existing cardholder obligation deemed uncollectible.
• You cannot accept consumer credit or commercial card products for collection or refinance of existing debt. Consumer debit or prepaid products are allowed for collection or refinance of existing debt.
• You can provide a discount, rebate, or incentive for a consumer to pay with different payment methods (cash, check, etc.); however, the discount must be clearly disclosed and must offer the same discount to all consumers and cannot discriminate based upon card brand or issuer.
• You may offer a free or discounted product, service, or enhanced service.
• You may offer an incentive, encouragement, or benefit.
• You may express a preferred payment method; however, you must honor all valid cards without discrimination when properly presented for payment.
• You may promote a preferred payment method through marketing materials and/or communications to a customer.
• You may discuss costs incurred by your business when accepting different types of payments.

Cash advances, disbursements, and equivalents

Unless explicitly authorized, you may not make any cash advances, cash disbursements, or cash-equivalent disbursements to a cardholder as part of a card transaction. For example, this includes card transactions in exchange for virtual currencies.

In addition, Beneficial Owners, Control Officers, partners, and employees of the business as well as any individual on the Merchant Agreement are prohibited from processing transactions on their own personal cards unless the transaction is for a purchase of a product/service sold in the ordinary course of the business. Processing a transaction on a card in exchange for cash is considered a cash advance and is prohibited.

Displays & advertising

It is recommended that you display the appropriate Visa, Mastercard, Discover, and American Express (if applicable) logos in customer-facing materials (catalogs, websites, etc.). You may not indicate that any card network, bank, or Moov endorses your business, products, or services. You may not omit a card network from your materials that is accepted at your business. Any and all logos or branding must be removed from customer-facing materials immediately upon discontinuation of acceptance of the particular card network.

Authorizations & declines

A valid authorization request must be obtained for every card transaction processed. Any invalid or incomplete authorization submitted may result in assessments, fines, declines, and/or chargebacks to you. An authorization approval only confirms the availability of a cardholder’s balance at the time of the transaction. It does not guarantee that the individual presenting the card is the legitimate cardholder. If the correct procedures are not followed during the transaction, you may be liable for a chargeback, and your account could be debited for the transaction amount.

An approval response does not guarantee:

• The person using the card is the rightful cardholder
• The card transaction is valid
• Payment of funds
• Payment will not be subject to a chargeback

An approval response only indicates that funds are available on the card at the time the authorization is requested. Even if the transaction is initially processed and funded, it may be charged back at a later date.

If you obtain address verification, you must review the AVS response separately from the authorization response and make your own decision about whether to accept the transaction. A transaction can be approved by the issuer even if AVS is unavailable, or reflects that the address provided does not match the billing address on file at the issuer. If the authorized cardholder disputes such a transaction, you will be responsible for the resulting chargeback.

You must not break one transaction into multiple transactions in an effort to obtain approval.

You must not retry declined transactions for certain decline codes as outlined here. Subsequent approvals on declined transactions may result in chargebacks, fines, and/or termination of the account.

You do not have to provide the decline reason to the cardholder and can refer them to their issuing bank.

Suspicious transactions

We recommend paying attention to the following to determine if the circumstances surrounding the card payment seem suspicious. While this can be difficult in a card-not-present environment, any interactions with the customer and review of the card transaction can help identify fraudulent activity.

Ask yourself, does the cardholder:

• Make purchases substantially greater than your usual customer (e.g., your average transaction is $60, but this transaction is for $360)?
• Seem to be in a rush to receive the product/service as quickly as possible regardless of your suggestions or options to save on shipping, etc.?
• Appear to be purchasing an unusual amount of expensive items or the same items?
• Repeatedly come back, in a short amount of time or right before closing time, to make additional purchases?
• Cause an unusual, sudden increase in the number and average sales transactions over a one to three day period?
• Have a previous history of disputed charges?
• Place orders to be shipped to an address other than the billing address, or use anonymous/free email domains?
• Place orders sent to zip codes or countries where you show a history of fraudulent claims?
• Use a large number of prepaid cards to make purchases?

In addition to cardholder behavior, some businesses are more susceptible to fraudulent activity. These industries include sales of items that can be easily resold:

• Gift cards
• Jewelry
• Electronics
• Clothing
• Accessories

Be suspicious of out-of-pattern purchases based on your normal business model, or out-of-pattern purchases based upon human behavior (e.g., someone buying three televisions or four pieces of jewelry).

Card-not-present best practices

Card-not-present transactions include:

• Mail order
• Telephone order
• E-commerce
• Other scenarios where the cardholder is not physically present

Card-not-present transactions have a substantially higher risk of chargebacks and fraud. Lack of cardholder presence means you will not have the standard documentation as you would in a card-present transaction. The following list of actions is useful in reducing chargebacks and should be implemented in your business processes:

• Obtain the expiration date of the card.
• If feasible, obtain and retain a signed authorization form from the cardholder for the transaction(s).
• Use AVS and process transactions only if there is a positive match.
• Obtain the three or four-digit card validation value (CVV) and include it with the authorization request and process the transaction only if there is a positive match.
• You may not submit a transaction for processing until after the merchandise has been shipped or the service has been provided to the customer. The card organizations will permit the immediate billing of merchandise manufactured to the customer’s specifications (i.e., special/custom orders) provided the cardholder has been advised of the billing details.
• Provide a copy of the sales receipt to the cardholder at the time of delivery and obtain proof of delivery to the complete address provided by the cardholder. This could be a signature at the time of delivery or tracking numbers showing delivery to the complete address provided by the cardholder (proof of delivery to just a city, state, and zip code may not be sufficient).
• Communicate delivery timeframes, delays, special handling, and/or cancellation policies to the cardholder.
• Ship merchandise within seven days of the transaction date. If unexpected delays are encountered, if applicable, provide the cardholder with an opportunity to cancel.
• Provide a description of security used on the website.
• It is prohibited to sell or disclose data containing cardholder account numbers, personal information, or other card transaction information to third-parties.
• All cardholder interaction points clearly indicate your business identity.
• Do not accept card data through email.
• If products and services are sold on a website, include the following information:
  • Full description of the goods or services offered.
  • Any applicable policies and disclosures (merchandise return policy, cancellation policy, refund policy, delivery policy, consumer data privacy policy, free trial period terms, etc.).
  • Customer service email address and/or phone number and business address.
  • Appropriate currency of the transaction.
  • Applicable export or legal restrictions.

Sales & refund receipts

You must prepare a receipt for each sale and refund transaction processed. You must provide a copy of the receipt to the cardholder at the time the card transaction is completed.

Required information

The following information should be considered the minimum required information for a transaction receipt. The information must be listed on a single page:

• The cardholder’s truncated account number, displaying no more than the last four digits of the card number.
• Expiration dates should not be present on any transaction receipts.
• Date of the transaction.
• Amount of the transaction including currency.
• Description of the goods or services.
• Description of the return and refund policy.
• Valid authorization code.
• Doing Business As (DBA) name and location.

Refunds & exchanges (credits)

Refunds

Refunds should be handled in a similar manner as sales. The below are best practices for processing refund transactions:

• Ensure the refund transaction is submitted promptly and for the total amount of the refund.
• Provide a transaction receipt for the refund as outlined in the Required Information section, with the exception of a valid authorization code. Authorization is not required for refund transactions.
• Do not provide cash or check refunds for transactions that were originally made with a card.
• Do not process a refund that does not correspond to a previous sale transaction.
• Include itemization of the amounts being refunded including tax, shipping and handling, merchandise, etc.
• The refund amount cannot exceed the original sale amount.
• Do not intentionally submit a sale for the sole purpose of submitting an offsetting refund.
• We assume all refunds are intended to be processed by your business and do not make any attempts to confirm the validity of any refund.
• Do not process a refund on a transaction that has been charged back. Chargebacks result in debits for the disputed amount. Any subsequent refunds after a dispute is initiated may not be recoverable.

Exchanges

In exchange scenarios, the same guidelines should be followed as refunds. In the event the exchange results in an uneven amount, submit a new sales transaction for the extra amount owed by the cardholder or a partial refund transaction for any amounts owed to the cardholder by your business.

If new merchandise or services are purchased, complete a new and separate sales transaction for the new purchase.

Conditional refunds & exchanges

If refunds and exchanges are conditional, disclosure must be provided to the cardholder at the time of the transaction. Terms such as “All Sales are Final,” “No Returns,” “No Exchanges,” etc., should be prominently displayed at the point of sale and on the transaction receipt provided to the cardholder.

Data security

Please carefully review the following important information regarding cardholder data protection. Non-compliance may result in significant fines, liabilities for unauthorized disclosures, and termination of the processing agreement.

Payment card Industry Data Security Standards (PCI DSS)

The Payment Card Industry Data Security Standards (PCI DSS) define the requirements with which all entities that store, process, or transmit payment card data must comply. PCI DSS is the name used to identify those common data security requirements. While the card networks have their own versions of security programs, they are all based on the PCI DSS requirements. PCI DSS compliance validation is focused on the merchant environment where cardholder data is processed, stored, or transmitted, including:

• All external connections into your network (i.e., employee remote access, third-party access for processing, and maintenance).
• All connections to and from the authorization and settlement environment (i.e., connections for employee access or for devices such as firewalls and routers).
• Any data repository outside of the authorization and settlement environment.

The “merchant environment” includes any and all equipment you use in connection with card authorization, clearing, completing, settling, transmitting, or other related processing, including, without limitation, all telecommunication lines and wireless connections and software, systems, point-of-sale terminals, card readers, merchandise and card scanners, printers, PIN pad devices, and other hardware, whether owned by you, Merchant Providers, or other persons used by you.

Penalties may be imposed if it is determined that merchants are not compliant with the applicable data security requirements.

Data security requirements

For detailed information on the data security requirements, please refer to the following sources:

• PCI DSS Council’s website: www.pcisecuritystandards.org
• Visa’s CISP website: www.visa.com/cisp
• Mastercard’s SDP website: www.mastercard.com/sdp
• Discover’s DISC website: www.discovernetwork.com/merchants/data-security/disc.html
• American Express’ DSOP website: www.americanexpress.com/datasecurity

Penalties may be imposed if it is determined that merchants are not compliant with the applicable data security requirements.

Compliance

Merchants accepting card payments may be subject to ongoing validation of your compliance with PCI DSS standards by means of a self-assessment questionnaire, attestation of compliance, onsite assessment, or any other method deemed appropriate by the PCI DSS Council.

Immediate notice required

In the event that transaction data is known or suspected of having been accessed or retrieved by any unauthorized person, you must contact us immediately, and in no event more than 24 hours after becoming aware of such activity.

Noncompliance fees

If we have not received receipt of your validation of compliance with your PCI DSS standards within the first 90 days of the date of the Agreement, you may be subject to a monthly non-receipt of PCI Validation fee. This fee may continue until you become compliant or terminate your account.

Disputes

Disputes can happen in the following scenarios:

• Chargebacks
• Goods or services not received
• Goods or services damaged
• Fraud or unauthorized charge
• Incorrect or duplicate charge

Document retention for disputes

It is important to retain copies of all transaction documentation for a specified time frame. While each card network has different specifications on document retention, we recommend retaining all receipts and transaction records for a period of three years from the date of the transaction (healthcare-related organizations should increase the time frame to five years). In addition to document retention, it is suggested that you develop efficient methods to retrieve transaction documentation to address any disputes in a timely manner.

Chargebacks

The cardholder and the issuer both have the right to question or dispute a transaction. In the event those disputes are not resolved, a chargeback may be initiated. If a chargeback is initiated, the chargeback amount will be debited from your transaction processing volume during settlement. You will be notified of the specific transaction, the reason the transaction is being disputed, and you’ll have an opportunity to respond. You are responsible for all chargebacks, our chargeback fees, and related costs arising from your transactions.

Due to the short time requirements imposed by the card networks, it is important that responses to a chargeback are completed prior to the due date listed in the notification. Do not process a refund for a transaction if a chargeback has already been received. Any subsequent refunds after a chargeback is initiated may not be recoverable.

Chargeback responses

If you choose to respond to a chargeback, the information provided must be timely and must be sufficient to warrant a representment (reversal of the chargeback). If it is determined that the information provided is sufficient, we will initiate a representment on your behalf. The act of submitting a representment is not a guarantee that the chargeback will be resolved in your favor. Ultimately, the decision on the representment or reversal is up to the issuer, or cardholder accepting the transaction.

When providing documentation to respond to a chargeback, locate all pertinent information to the transaction using the following guidelines:

• Provide clear, legible copies of all transaction receipts that contain all required data elements.
• Include the case number from the chargeback notification on each page.
• Include items such as proof of delivery, authorization forms, email communications with the cardholder, receipts, agreements, etc.
• If a refund was previously issued, include a copy of the refund receipt(s).
• Written narratives, while helpful, are not substitutes for transaction receipts or other supporting documentation.

If we do not receive clear, legible, and complete copies of the transaction documentation prior to the “Due Date” on the notification, the documentation may not be forwarded and a representment may not be initiated.

In the event the representment is declined by the Issuer, it is possible to escalate the case to a pre-arbitration or even an arbitration status, which requires card network intervention. These escalation steps can be expensive and often do not result in a change in the original decision. To avoid costly fees, we recommend providing all pertinent evidence during the initial response.

Under no circumstances should you bill a cardholder after a chargeback is received for that transaction, even if the cardholder has provided you with authorization. We recommend instead that you contest the chargeback and provide supporting documentation that substantiates the charge.

Chargebacks are costly and provide a small time frame for merchants to respond. Due to this, it is always best to adjust business practices and adhere to the best practices in this document in an effort to avoid a chargeback.

Chargeback reasons

This section provides more context around the most common types of chargebacks. This list is not all-inclusive and is broken into five categories which include similar chargeback reasons. Below are recommendations on how to reduce the risk of chargebacks within each group. These are recommendations only and are not a guarantee that you will be able to prevent chargebacks.

Goods/services not received or returned

Cardholders indicating that they either never received the goods and services or that the items were returned. The following could cause a not received or return-related chargeback to occur:

• Cardholder received damaged or defective merchandise.
• Services were not provided or merchandise was not received by the cardholder.
• The cardholder was charged prior to merchandise being shipped or merchandise was not received by agreed upon delivery date or location.
• Credit transaction was not processed.

To reduce your risk:

• Provide services or merchandise as agreed upon and described to the cardholder; clearly indicate the expected delivery date on the sales receipt or invoice.
• Issue credit to the cardholder for the same account as the purchase in a timely manner.
• Ensure delivery of the merchandise or services ordered to the cardholder.
• Do not charge the cardholder until the merchandise has been shipped.
• Ship according to the agreed-upon terms and obtain signed proof of delivery from the cardholder.
• Contact the cardholder in writing if the merchandise or service cannot be provided or is delayed, and offer the cardholder the option to cancel if your internal policies allow.
• If applicable, display the words “NO EXCHANGE, NO REFUND,” etc., on the website on the same page as check-out requiring the cardholder to click to accept prior to completing the transaction.
• If unable to provide services or merchandise, issue a credit to the cardholder in a timely manner.

Goods/services damaged, defective, or not as described

Cardholders indicating that they received the items; however, they were damaged, defective, or not as described. The following could cause these types of disputes to occur:

• Cardholder received merchandise that was defective, damaged, unsuited for the purpose sold, or did not match the description on the transaction documentation/verbal description presented at the time of purchase.
• Cardholder billed for a transaction that was not part of the original transaction document.
• Cardholder claims to have been sold counterfeit goods.
• Cardholder claims the terms of sale were misrepresented by the merchant.

To reduce your risk:

• Provide services or merchandise as agreed upon and described to the cardholder; clearly indicate the expected delivery date on the sales receipt or invoice.
• Contact the cardholder in writing if the merchandise or service cannot be provided or is delayed, and offer the cardholder the option to cancel if your internal policies allow.
• In the event that the cardholder received defective merchandise or the merchandise received was not as described, resolve the issue with the cardholder at first contact.
• If the merchandise is being picked up by the cardholder, have them sign for the merchandise after inspection that it was received in good condition.
• Do not charge the cardholder until the merchandise has been shipped.
• Ship according to the agreed-upon terms and obtain signed proof of delivery from the cardholder.
• If unable to provide services or merchandise, issue a credit to the cardholder in a timely manner.
• Do not bill the cardholder for loss, theft, or damages unless authorized by the cardholder.
• Ensure that a description of the service or merchandise provided is clearly defined.

Fraud and/or unauthorized charge

Cardholders indicating that the transaction was not authorized. The following could cause fraud/unauthorized chargebacks to occur:

• Multiple transactions were completed with a single card without the cardholder’s permission.
• Counterfeit card was utilized, and proper acceptance procedures were not followed.
• Cardholder states that they did not authorize or participate in the transaction.
• The cardholder does not recognize or is unfamiliar with the transaction due to the merchant name and/or location not matching the name and/or location where the transaction took place.

To reduce your risk on card Not Present Transactions:

• Participate in recommended fraud mitigation tools:
  • Address Verification Services.
  • CVV2, CVC2, and CID Verification.
• Ensure you ship to the AVS-confirmed address (bill to and ship to should match).
• Obtain authorization for all transactions.
• Ensure the merchant descriptor matches the name of the business and is displayed correctly on the cardholder statement.
• Ensure the descriptor includes correct business address and a valid customer service number.

Incorrect amount, duplicate charge, or paid by other means

Cardholders indicating that they were charged an incorrect amount, they were charged more than once, or they paid by other means and were still charged. The following could cause these types of chargebacks to occur:

• A single transaction was processed more than once to the cardholder’s account.
• Cardholder initially presented card as payment for the transaction; however, the cardholder decided to use an alternate form of payment.
• Cardholder was issued a Credit Draft; however, the transaction was processed as a sale.
• The account number or transaction amount utilized in the transaction was incorrectly entered.
• Transaction was to be processed in a currency other than the currency used to settle the transaction.

To reduce your risk:

• Process all transactions within the card organization specified time frames.
• Ensure all transactions are processed accurately and only one time.
  • In the event a transaction was processed more than once, immediately issue voids, transaction reversals, or credits.
• Ensure that credit transaction receipts are processed as credits and sale transaction receipts are processed as sales.
• Ensure all transactions received a valid authorization approval code prior to processing the transaction.
• Do not alter transaction documentation or make any adjustments unless the cardholder has been contacted and agrees to any modifications of the transaction amount.

Canceled order and/or recurring services

Cardholders indicating they canceled their order or their recurring service. The following could cause these types of chargebacks to occur:

• Cardholder continued to be billed for canceled recurring transaction.
• Cardholder canceled service or merchandise, and their card was billed.

To reduce your risk:

• Issue credit to the cardholder for the same account as the purchase in a timely manner.
• Ensure customers are fully aware of the conditions for recurring transactions. Cancel recurring billings as soon as notification is received from the cardholder or as a chargeback, and issue the appropriate credit as needed to the cardholder in a timely manner.
• Pre-notify the cardholder of billings within 10 days (domestic) and 15 days (international) prior to billing, allowing the cardholder time to cancel the transaction.
• Provide proper disclosure of your refund policy for returned/canceled merchandise or services to the cardholder at the time of transaction in accordance with applicable law.
• Provide cancellation numbers to cardholders when lodging services are canceled.
• If applicable, display the words “NO EXCHANGE, NO REFUND,” etc., on the website on the same page as check-out requiring the cardholder to click to accept prior to completing the transaction.

Account maintenance

Out of date accounts could cause delays in funding or risk issues. Double check your account after any information changes. Some information updates that may pose a risk are:

• Name
• Address
• Contact information
• Bank account
• Doing business as information
• Changes in the structure or legal business name
• Offered use cases
• Lines of business
• Ownership changes
• Method of card acceptance
• Bankruptcy
• Liquidation

The above list is not exhaustive. Any changes must be communicated immediately. Failure to do so may result in chargebacks, network violations, risk issues, and potentially termination of your processing services.

Card network monitoring

The card networks and sponsor banks have established guidelines, reports, and programs to monitor merchant activity. If one or more of these guidelines are exceeded, you engage in practices that attempt to circumvent these programs, or submit suspicious transactions that are identified by a card network or sponsor bank, you may be subject to:

• Changes to your card acceptance practices to remediate an identified deficiency.
• Chargebacks or an increase in fees associated with card acceptance.
• Suspension of settlement and/or funding.
• Audits and/or fines.
• Termination of your processing ability.

IRS backup withholding

Section 6050W of the Internal Revenue Service (IRS) code requires information returns for each calendar year. These returns must be made by merchant acquiring entities and third-party settlement organizations. Returns are required for the following settlement transactions:

• Payment cards
• Third-party payment networks

To support this requirement, you’ll receive a Form 1099-K reporting your gross transaction amounts for each calendar year. Your gross transaction amount refers to the gross dollar amount of the card transactions processed through your merchant account with Moov.

All amounts reportable under Section 6050W are subject to backup withholding requirements. Payors will be required to perform backup withholding by deducting and withholding income tax from reportable transactions if either:

• You don’t provide us with your taxpayer identification number (TIN) or
• The IRS indicates that the TIN and name provided to us do not match.

Customer service best practices

• Clear communication: To prevent misunderstandings, provide detailed information about products, services, pricing, and policies.
• Accessible support: Offer multiple channels for customer support, such as phone, email, and live chat, and ensure timely responses.
• Feedback mechanisms: To improve satisfaction and loyalty, encourage customers to provide feedback and address concerns promptly.
• Transparency: To build trust with your customers, be upfront about fees, charges, and terms of service.
• Training: Ensure your staff is well-trained in customer service protocols and knowledgeable about your products and services.

Glossary of terms

• Acquirer: A bank or financial institution that processes credit and debit card payments on behalf of a merchant.
• Cardholder: The person to whom a payment card is issued.
• Chargeback: A transaction disputed by the cardholder or Issuer, resulting in the reversal of the original transaction.
• Issuer: A bank or financial institution that issues payment cards to consumers.
• PCI DSS: Payment card Industry Data Security Standards, a set of security standards for organizations that handle cardholder information.
• Tokenization: The process of replacing sensitive data with unique identification symbols that retain all the essential information without compromising its security.
• AVS: Address Verification Service, a system used to verify the address of a person claiming to own a credit card.
• CVV/CVC/CID: card Verification Value/Code, a security feature for card-not-present transactions.

Additional resources

• Moov Platform Agreement: https://moov.io/legal/platform-agreement/
• PCI Security Standards Council: https://www.pcisecuritystandards.org/
• Visa Merchant Resources: https://usa.visa.com/run-your-business/resources/merchant-resources.html
• American Express Merchant Guide: https://www.americanexpress.com/content/dam/amex/us/merchant/new-merchant-regulations/Reference-Guide_EN_US.pdf