E-wallets or electronic wallets are digital payment systems that store payment information securely on mobile devices or computers. They are an alternative to traditional payment methods like cash, credit or debit cards, and bank transfers. E-wallets have become increasingly popular due to their convenience, speed, and security.
How E-wallets Work:
In today's fast-paced digital world, electronic payments have become a popular alternative to traditional payment methods such as checks and cash. Two popular electronic payment methods are ACH (Automated Clearing House) and EFT (Electronic Funds Transfer). In this article, we will discuss the differences between ACH and EFT, their advantages, and how they work.
What is ACH?
Near Field Communication (NFC) is a wireless technology that allows two devices to communicate with each other over a short range of about 4cm or less. NFC technology is used in various applications, including contactless payments. In this article, we will discuss NFC payments, how they work, and their advantages and disadvantages.
How does NFC Payment work?
Cardless cash withdrawal is a banking service that allows you to withdraw cash from an ATM without using a physical card. Instead, you can use your mobile phone to access the ATM and complete the transaction.
How Does Cardless Cash Withdrawal Work?
Cardless cash withdrawal works through the use of a mobile banking app. When you initiate a cardless cash withdrawal, your mobile banking app generates a one-time code that you can use to access an ATM. This code is sent to your mobile phone, and you enter it into the ATM to withdraw cash.
When you make a purchase using a Mastercard, an authorization hold is placed on your account for the transaction amount. This hold is a temporary hold, usually lasting for a few days, until the merchant finalizes the transaction and the funds are actually deducted from your account. Understanding how authorization hold time works is important for managing your finances and avoiding unexpected overdraft fees.
How Authorization Holds Work
When making purchases, it's not uncommon to see the message "Transaction Reversed by Merchant" appear on your payment card statement. This message can be concerning, especially if you're not sure what it means or why it happened. In this article, we'll explore what "Transaction Reversed by Merchant" means and what you need to know about it.
What is "Transaction Reversed by Merchant"?
As a debit cardholder, you may have come across instances where you need to dispute a transaction that has been charged to your account. In such cases, chargeback is the process that enables you to reverse the transaction and get your money back. However, it is important to note that there are time limits for chargeback requests that vary depending on the type of transaction and the reason for disputing it.
As a Visa debit cardholder, you may encounter situations where you need to dispute a transaction on your account. Fortunately, Visa has a chargeback process that can help you resolve these disputes and potentially recover your funds. In this article, we’ll cover all you need to know about Visa debit chargebacks.
What is a chargeback?
What is a Debit Card Chargeback?
A debit card chargeback is a process where a customer disputes a transaction that they made using their debit card. The customer contacts their bank and requests that the funds be returned to their account. The bank then investigates the dispute and, if they find that the customer's claim is valid, the funds are returned to the customer's account.
Reasons for Debit Card Chargebacks
There are several reasons why a customer may file a debit card chargeback. Some of the most common reasons include:
A chargeback occurs when a customer disputes a transaction with their bank, and the bank reverses the funds back to the customer's account. Chargebacks can be initiated for various reasons, such as unauthorized transactions, duplicate charges, or goods not received. In this article, we will discuss bank chargeback checks, what they are, and how they work.
What is a Bank Chargeback Check?
