Risk/Velocity

We at Petroleum Card Services strive to assist each and every merchant according to their individual needs. Our Risk Department works with Independent Sales Organizations and merchants to establish and maintain their accounts to conform to all Visa and MasterCard Operating Rules and Regulations. Risk monitors a series of elaborate, detailed reports on a daily basis that can help merchants identify any activity which may deviate from parameters that have been set during the application and operational process. Activity such as individual high ticket transactions, abnormal daily batches, keyed (manual) versus electronically swiped transactions, negative batches, duplicate transactions, and excessive declines are all monitored and merchants notified when necessary. Risk has the ability to work with merchants in all phases of transaction history, holds and releases of individual transactions, or entire batches.

Another area of major importance in which our Risk department can assist merchants is with Retrieval/Chargeback management. With the millions of transactions generated daily, it is inevitable that a few will become exception items as a result of a customer question or dispute. It is extremely important for the merchant to respond as soon as possible with complete documentation as these requests are time sensitive. Our risk department can help the merchant minimize exceptions by alerting the merchant of potential hazards which may lead to the merchant realizing chargebacks due to improper processing techniques which may include keyed (manual) transactions, abnormal single transaction amounts, duplicated transactions, refunds issued without corresponding charges, and the ever increasing issue of fraudulent transactions including stolen credit cards, and employee fraud.

The pay at the pump option is a popular convenience for cardholders wishing to pay and pump without ever entering the establishment. Merchants need to be aware that this option, although popular, is a major area for use of stolen cards, skimming devices, and other fraudulent card use. One tool at our disposal is what is called velocity check which, when in place will determine how many times a cardholder can swipe their credit card outside at the pump without coming inside and producing proper identification for further use within a 24 hour period. The velocity can be set at either; one, two, or three times in the same day. Velocity check will not totally ensure that the merchant never receives a chargeback, but could minimize your risk.