As well as your business may be going, you’ll inevitably hit some roadblocks from time to time, and that’s okay… One challenge that may arise is dealing with your merchant bank and your relationship with them. Depending on what type of industry you are in, and the types of customers you have, you may be …
Continue reading “High Risk Merchant Accounts: What are they, and should you get one? Part 1”
Ask any online direct-to-consumer merchant, and they’ll tell you that dealing with chargebacks is one of the most challenging aspects of the business. Online sales are always “card not present”, which makes it easier for friendly fraud and chargebacks to occur. Many direct-to-consumer merchants sell subscriptions or trials for their products, which adds to the …
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”
Looking back at 2020 we can say it was the year that everything changed. We all had to adapt to new rules; new ways of doing the simplest things. Covid-19 also ushered in a new era in consumer behaviour, and according to studies, most consumers will continue to shop online even after the pandemic is …
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 …
Continue reading “How You Can Prevent Being Put on the MATCH List”
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”
