EFTA01377716Dataset 10
2015-11-061p456w
…opportunities to introduce new products and services into these markets, including software offerings and Caviar. 116 Table of Conteali Payment Processing Overview Processing payment card transactions requires close coordination among a number of industry participants that provide the services and infrastructure required to enable such transactions. These participants consist of payment service providers, acquiring processors, card networks, and issuing banks. Within this landscape, Square serves as a payment service provider, acting as the touch point for the seller to the…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377716.pdf
EFTA01377679Dataset 10
2015-10-011p805w
…peripherals, and as we migrate new and existing sellers to Square Readers for EMV chip cards and NFC, hardware revenue may increase as a portion of total net revenue. Cost of Revenue and Gross Margin Transaction costs. Transaction costs consist primarily of interchange fees set by payment card networks and that are paid to the card-issuing financial institution, assessment fees paid to payment card networks, fees paid to third-party payment processors, and bank settlement fees. Starbucks transaction costs…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377679.pdf
EFTA01377649Dataset 10
1p871w
…and in the past have been, subject to penalties from payment card networks if we fail to detect that sellers are engaging in activities that are illegal, contrary to the payment card network operating rules, or considered "high risk." We must either prevent high-risk sellers from using our products and services or register such sellers with the payment card networks and conduct additional monitoring with respect to such sellers. Although the amount of these penalties has not been material…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377649.pdf
EFTA01377630Dataset 10
2015-11-061p722w
…Analytics and Invoices directly from a mobile device. We regularly add advanced software features for our POS solution for specific types of sellers. We act as the merchant of record for our sellers, which puts us in their shoes with respect to card networks and puts the risk for refunds and chargebacks on us. Because we work directly with payment card networks and banks, sellers do not need to manage the complex systems. rules, and requirements of the payments industry…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377630.pdf
EFTA01377641Dataset 10
2012-09-301p492w
…transaction costs from Adjusted Revenue as this is a primary metric used by management to measure our business performance, and it affords greater comparability to other payments processing companies. Substantially all of the transaction costs excluded from Adjusted Revenue are interchange fees set by payment card networks and are paid to card issuers, with the remainder of such transaction costs consisting of assessment fees paid to payment card networks, fees paid to third-party payment processors, and bank settlement fees…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377641.pdf
EFTA01377647Dataset 10
1p920w
…to seek reimbursement for certain chargebacks. The risk of chargebacks is typically greater with those of our sellers that promise future delivery of goods and services, which we allow on our service. If we are unable to maintain our losses from chargebacks at acceptable levels, the payment card networks could fine us. increase our transaction fees, or terminate our ability to process payment cards. Any increase in our transaction fees could damage our business, and if we were unable to…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377647.pdf
EFTA01382610Dataset 10
1p636w
…and errors or delays in our processing of electronic transactions could result in additional development costs, diversion of technical and other resources from our other development efforts, loss of credibility with current or potential clients, harm to our reputation, fines imposed by card networks, or exposure to liability claims. In addition, we rely on technologies supplied to us by third parties that may also contain undetected errors. viruses or defects that could have a material adverse effect on our business…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01382610.pdf
EFTA01382463Dataset 10
2015-02-281p759w
…to the card networks), finding that, although the Company's network had previously been found to be compliant with payment card industry data security standards (PCI DSS), not all of these standards had been met, and this non-compliance may have contributed to or caused at least some portion of the compromise that occurred during the first intrusion. A report for the second intrusion is still pending. The Company believes it is probable that the payment card networks will make…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01382463.pdf
EFTA01382342Dataset 10
2014-08-141p772w
…each intrusion. We notified federal law enforcement authorities, the major payment card networks, and our insurance carriers and are cooperating in their efforts to investigate these intrusions. As required by the payment card brands, we retained a firm to conduct a forensic investigation into the intrusions. The forensic firm has issued separate reports for each intrusion (copies of which have been provided to the card networks). Although our network had previously been found to be compliant with PCI DSS, in…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01382342.pdf
EFTA01377789Dataset 10
1p574w
…the food, net of refunds. Hardware revenue Hardware revenue is generated from sales of Square Stand and third-party peripherals and Square Readers for EMV chip cards and NFC. Hardware revenue is recorded net of returns and is recognized upon delivery of hardware to the end customer. Cost of Revenue Transaction costs Transaction costs consist primarily of interchange fees set by payment card networks that are paid to the card-issuing financial institution, assessment fees paid to payment networks, fees…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377789.pdf
EFTA01382703Dataset 10
2015-10-141p588w
…for electronic payment transactions processed. We also manage the settlement, clearing and reconciliation process with financial institutions and payment card networks. • Disputes / Chargebacks — Our disputes and ehargebacks team provides case management support on behalf of our clients when disputed charges are filed. We work with the payment card networks and card issuing banks involved in disputed transactions to determine whether fraud occurred by collecting and analyzing relevant information and records from the merchant, such as signed receipts, to determine liability…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01382703.pdf
EFTA01377715Dataset 10
1p650w
…services, such as Square Cash and Square Readers for newer technologies, for the benefit of new and existing sellers. In the United States, beginning in October 2015, we believe many sellers will convert to EMV and NFC terminals due to the fraud liability shift imposed by the payment card networks. We believe this represents a significant opportunity to add new sellers and gain market share. In 2013, we introduced Square Cash, a payment solution designed to be the fastest, easiest…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377715.pdf
EFTA01377788Dataset 10
2015-09-301p681w
…their payment transactions and is recognized upon authorization of a transaction. Revenue is recognized net of refunds, which are reversals of transactions initiated by the sellers. The Company acts as the merchant of record for its sellers, and works directly with payment card networks and banks so that its sellers do not need to manage the complex systems, rules, and requirements of the payments industry. As the merchant of record. Square is liable for settlement of the transactions the Company…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377788.pdf
EFTA01377673Dataset 10
2015-10-011p690w
…transaction costs from Adjusted Revenue as this is a primary metric used by management to measure our business performance, and it affords greater comparability to other payments processing companies. Substantially all of the transaction costs excluded from Adjusted Revenue are interchange fees set by payment card networks and are paid to card issuers, with the remainder of such transaction costs consisting of assessment fees paid to payment card networks, fees paid to third-party payment processors, and bank settlement fees…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377673.pdf
EFTA01377651Dataset 10
2015-11-061p850w
…their systems for a variety of services, including to process transaction data and settle funds to us and our sellers, and these third parties' failure to perform these services adequately could materially and adversely affect our business. To provide our payments solution and other products and services, we rely on third parties that we do not control, such as the payment card networks, our acquiring processors, the payment card issuers, various financial institution partners, systems like the Federal Reserve Automated…
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377651.pdf