Payment processors have a great amount of risk when processing credit cards for merchants. Fraudulent credit card activity is rampant and frequently leads to a chargeback. Credit card chargebacks can be devastating financially, but processors can protect against this risk with a Merchant Fraud insurance policy.
What does a Merchant Fraud policy cover?
- Losses due to fraudulent merchant activity
- Losses due to consumer fraud when the merchant subsequently becomes insolvent
What sorts of fraud does a Merchant Fraud policy cover?
- Use of a lost or stolen credit card or credit card number
- Counterfeit credit cards
- Kiting
- Merchant credit card fraud
- Skimming
- Fraudulent misrepresentation
- Laundering
This coverage was designed for both Card Present and Card Not Present transactions to protect against the enormous risk that comes with processing credit cards. It can help protect against devastating merchant and credit card fraud. This is coverage you can’t afford to be without.
DISCLAIMER: The descriptions herein are a summary only and not a warranty of coverage. Please see the policy form for full coverage details.