Credit Card Refund Scam Against Merchants! One of my clients called recently to ask some questions about refunding a customer. This particular customer paid a deposit on a custom engineering project and then decided to cancel the order. The merchant told this customer he would refund the card. However, the card holder argued that they didn’t have the card anymore and could the merchant write
Problem: How do I stop paying such high rates for corporate and business cards? Solution: Stop paying 3% to 4% or HIGHER for Level 2, 3 & 4 corporate, business and purchasing cards! Save 1% or MORE to your bottom line! Here is how! Purchasing Cards (“P” Cards), corporate cards and Business cards are company credit cards which government entities, plus large and medium sized
[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] Which processor has the best rate? People always ask me, “What is my rate?” It is such a silly question. The wholesale, interchange rates vary greatly from the low end of a regulated debit card to the high end of a corporate card. The processor has to analyze what percentage of what kinds of cards the merchant is likely to receive for payment in
About Chargebacks I know that as a merchant, when the money keeps coming into your bank account from credit card transactions, you think that credit card payments are just like cash payments. If it looks like a duck and quacks like a duck, you think it is a duck. But NO. Credit card payments are not just like cash! Taking credit cards for payment is
Is Customer Service an Important Factor in Comparing Processors? Every merchant services salesperson out there tells their prospects that they have excellent customer service. They might try to sell short wait times on the phone or the fact that their customer service is 24/7/365, but always they are selling that theirs is the best. So customer service does not at first seem like a differentiator
“Cure Yourself of Excusitis, The Failure Disease!” Chapter 2 from “The Magic of Thinking Big” by David Schwartz One of the secrets that highly successful people understand is that they think big and dream big! They set high goals and start to plan how they can get themselves there. They know that they must hit smaller goals along the way to the big one. They
[vc_row][vc_column][vc_column_text]It is advantageous for merchants to understand how consumers prefer to pay to products and services. Here is a chart from the Federal Reserve Payment Study done in 2016. Following is an analysis of payment processing and shopping trends. [/vc_column_text][vc_column_text][ninja_tables id=”1111″][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Debit cards are mostly used for small ticket purchases like fast food, gas and groceries. In fact, one third of all debit transactions have an
Payment Processing Moves From Terminals Into Tablets! As technology changes the world around us, so it changes how we process credit card transactions. When we first got in this business 20 years ago, the big news was pin debit. Then e-commerce gateways were introduced followed by mobile payment processing. Terminals were always in big demand until recently, when card processing got moved inside an app
Discussion of the Purpose Behind the Questions on the PCI Compliance Survey The PCI survey questions include queries about whether the business has written procedures in place for employees regarding the protection of credit card numbers. For example, an easy question to answer might be whether the company writes down or stores their customer’s credit card numbers. That answer should be a resounding NO. If
Is There a Value to Being PCI Compliant OR Is it Just Another Way for Card Processing Companies to Make Extra Money? I recently met a woman, named Merissa, from Big Byte, a company that does data storage, IT for large businesses and disaster recovery. Merissa and I talked a lot of about PCI. Yes, they know companies who have been hacked. She told me
