Merchant Account Considered High Risk Many financial institutions are tightening up guidelines and raising fees. These days even acquiring banks are cracking down on various business types. No company wants to take on a possible financial loss. There are merchant services providers out there that specialize in high risk business, but you have to be […]
According to the U.S Internet Crime Complaint Center in 2016, there were more than 280,000 internet fraud reports in the United States alone. One type of online fraud that most people are familiar with is a scam run on Craigslist where the seller receives an email from a prospective buyer offering to send a cashier’s […]
Every day more businesses are going out of business and layoffs continue to plague the nation. The traditional brick-and mortar merchant may slowly become a thing of the past. Many are trying their hand at home-based businesses and internet ventures. Over the past year we have seen a significant rise in companies like mortgage restructuring, […]
Preventing Chargebacks, How to Do It! Even if you manage to keep your chargebacks below the 1/2 – 1% threshold, any chargeback claims – whether remedied or not – take up precious time researching what happened. I’m sure there are other ways you’d rather spend your time (like focusing on new sales). The best way to […]
To keep your chargeback ratio in check you have to take a proactive role. You can actually prevent chargebacks from escalating – and counting towards your monthly allotment. The most common categories for chargebacks include point-of-sale errors, customer disputes, and fraud – and within these categories are a multitude of possible reasons. Understanding the reasons provides insight […]
Should you have an imprinter on hand? Most businesses seem to think that an old fashioned knuckle buster is not needed. Most merchants don’t want to purchase a manual imprinter, but this decision can end up costing them more in the long run. There are situations in which a credit card imprint is required for […]
While Visa and MasterCard don’t approve merchant accounts, they do hold all the cards – pardon the pun – when it comes to setting chargeback ratios. Chargeback ratios are calculated by dividing your monthly sales by the number of chargebacks or the total dollar amount of the total chargebacks registered in any given month – […]
If you have seen a sign like this at a retail store, you are not alone. No matter what the sign says, if a merchant accepts credit or debit cards, you are allowed to use any card they accept for a purchase of any amount. Merchants cannot, in any case, impose minimum or maximum purchase […]
Online business attracts more buyers each year. The internet has become a way to eliminate the costly overhead associated with retail store fronts. Internet sales are expected to rise by as much as 11 percent in 2009. With a greater number of merchandise being sold on the internet, businesses are more susceptible to fraud and […]
In 2005, a credit card giant was brought down by a massive security breach. It was said that at least 68,000 MasterCard account numbers were taken from the CardSystems database and that approximately 40 million cards of various brands were exposed. Since this breach, we have implemented PCI DSS and have come a long way […]
