In order to accurately read your merchant processing statement, it is important to understand that three parties are being paid for every transaction conducted. The first party is the major card brands, Visa, Mastercard, etc. These fees are called “card brand assessments” and they are 0.13-0.14% + $0.0155-$0.0195 per transaction. The second party is the …
Continue reading “Understanding Credit Card Processing Statement Fees”
In payment processing being on MATCH List is very bad news. Being put on MATCH (or TMF) puts a black mark on your record, which can prevent you from being able to accept credit cards for payment for up to 5 years. Here are some tips and tricks to avoid being put on the dreaded …
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Chances are you’ve heard of affiliate marketing. Maybe you’ve even tried setting up your own affiliate program. The appeal of affiliate marketing is that it allows you to leverage independent marketers to promote your product, and only pay when a sale is made. The challenge of building your own affiliate program from scratch is getting …
For better or worse, chargebacks are just a part of the game. For those merchants that are in denial or otherwise ignore the need to have a system for managing all aspects of chargeback disputes, they will continually be in the new MID – termination lifecycle. That is, they’ll spend time and resources setting up …
Continue reading “How to Fight Chargebacks – Part 2, Managing Chargebacks”
TLDR: Using the Six Sigma LEAN process on your payment processing system can help reduce cost and ensure the longevity and ROI of your merchant account. ”Business as usual” is often used like the best/normal/desirable solution but can we improve this statement? Have you ever heard of the LEAN process? What does it mean and how …
