Specific information about the payment method Visa/MasterCard.
Visa and MasterCard are the world's two largest payment processing networks. They do not issue cards to the public directly like other credit or debit card suppliers, for example, American Express but use affiliated members such as banks or credit unions instead. Both Visa and MasterCard are payment methods used for purchases at the point of sale and online.
The shopper selects the Visa/MasterCard button or logo for online payments and enters the card details to complete the purchase. The following card details are required for Visa/MasterCard:
In the unlikely event that chargebacks occur, Verified by Visa and MasterCard Secure Code are services that verify the cardholder during the online purchase to allow merchants to protect their card sales.
If a shopper of your webshop chooses to pay with Visa/MasterCard, he will initially need to provide his card details. Upon confirming his card details, Accounting as a Service will redirect him to 3DSx for 2 Factor Authentication.
Visa/MasterCard as well as Accounting as a Service support payments via authorisation/capture as a standard but you may also choose payments via debit/capture depending on your PSP. The related configuration is part of the onboarding procedure and can be found in the technical application. If you have already been onboarded, please contact us or send us your request for configuration change.
In case you need help or advice, please contact us.
Note: If you choose this payment method, your merchant will also need to have a contract with an acquirer where payment guarantees and/or seller protection is defined.
The settlement for Visa/Mastercard payments follows the standard technical PSP model in Accounting as a Service.
In case of a refund to be handled as part of a return, you should follow our use case Return creation to trigger the refund procedure in Accounting as a Service. Alternatively, if the refund happens in the context of a goodwill procedure, please follow the use case Good will creation for triggering a goodwill credit within Accounting as a Service.
Consumers can issue chargebacks. In this case the acquirer will forward a chargeback request to the merchant, who can then try to avoid the chargeback by proving the transaction e.g. by providing an invoice copy and a proof of delivery or proof of usage. Nevertheless some chargebacks can usually not be avoided. In this case the acquirer will debit the chargeback amount in the settlement file, Accounting as a Service will book it on the debtor account and either start the dunning flow (if configured) or write-off the chargeback and correct the VAT for the merchant. There is a notification to inform merchants about chargebacks to enable them to e.g. block services or customer accounts
Please note that managing/defending dispute & chargebacks is part of Accounting as a Service's communication related service and can be enabled and configured during your onboarding as part of the technical application).