The people are being warned by the Madison police about a new texting scam that asks respondents to give up their confidential credit card information.
Authorities have been notified by a dozen of local people that they have received a text message in which there is an information for them that they have a credit card that has been deactivated.
For those of you who have set up their own shop, there are numerous advantages of allowing debit or credit card as mode of payment. This includes impulsive buying by shoppers (people who buy more just because they can put it on a credit card), as well as spontaneous buyers.
But, there are also a few disadvantages. One issue many merchants find out when they first start accepting credit cards is that: they are not only responsible for paying various fees associated with accepting credit or debit cards as payment, but accepting credit cards means you also have to deal with the occasional credit card issues. 
One common issue will result in what’s called a “charge back”. Chargeback’s happen when a credit card holder disputes a transaction made on their credit card, and the bank transfers the liability to the merchant (you, in this case) and requires that you pay the amount back. A charge back can occur because of two reasons:
If a consumer decides to dispute a transaction they find on their credit card statement because they say the card has been stolen or misused (someone has used the card without their authentication), then the merchant/retailer is responsible to payback that money. The holder’s credit card will be refunded.
If your company is providing poor quality of customer service, for instance, if a customer receives defected items or does not receive their ordered items – in this case they’re going to dispute the charge and you will be required to refund the amount when the bank submits the charge back to your business bank account.
Protection at different levels is provided to retailers who accept credit cards as mode of payment. New methods of securing credit card details online are provided to us through advancement of Technology. It also helps us in verification methods that make sure that the person submitting the order has the card in hand- and hopefully, they’re the owner of the credit card account.
Unfortunately for cardholders and retailers, there is no 100% guaranteed protection against all types of credit card frauds, and a cardholder can submit a charge back up to six months after the purchase of items.
In order to minimize the number of chargeback you get, make sure that your website takes the necessary steps to verify the identity of the person while placing the order. There are numerous ways to try and avoid fraudulent activity online, including billing and shipping address verification, security code or CVV (Credit card verification) checking and for internet transactions- you can use Verified by Visa and MasterCard’s SecureCode.
What would you do if you find out that you are billed those purchases which you haven’t made? What if you rarely made any transaction and were billed for couple of transactions by the end of the month? You are shocked to see the transactions of branded stores like Ralph Lauren and Burberry, where you haven’t been for a while.
Most people are hit by such incidents and unaware of their rights and don’t know what to do, where to report or how to react. Do you have any idea of what rights you possess in-case your credit card is misused or If you’ve made any purchases online and never received the purchased items?
If you have not come across such incidents, then you can call yourself lucky. These are common situations credit card consumers face day to day, and it can help you to understand and react before something similar happens to you what your rights are, and what your responsibilities are in the matter.