As you shop around for a high-risk merchant account service provider, you’ll find that processors typically require businesses to set up a reserve. Think of the reserve as a monetary cushion that insulates the processor from the risk that comes with many chargebacks and other problems that require a refund to the consumer. Here’s a […]
Credit card fraud is a serious problem for businesses of all sizes. When someone uses a stolen credit card, the business ultimately suffers the loss: The credit card–issuing bank refunds the money to the customer, then requests the refunded amount from the company that processed the credit card. While larger businesses are capable of absorbing […]
When you set up an online store, one of the first things you must do is enable payments so you can start selling products and services to your customers. The first steps are to apply for a high-risk merchant account and to choose a payment gateway that integrates smoothly with that account and your site. […]
When business owners choose to accept credit card payments, they’re providing their customers with a convenient way to pay. However, problems arise when customers ask their credit card company to issue a refund. Regardless of why customers want their money back, it’s time-consuming and expensive for a company with a high-risk merchant account to dispute […]
For making online purchases, most websites require customers to input the CVV code located on the back of their debit or credit card as an extra security measure after typing in the 15- or 16-digit credit card number. This is something that you as a merchant should require for online store transactions because it can […]
Chargebacks can fuel nightmares for businesses. Perhaps the business is at fault, but perhaps theft is to blame. Regardless of the root of the problem, the business needs to dispute the charge. Failing to dispute charges can mean lost money, product, and time, along with a not-so-happy merchant service provider. However, some businesses resist arguing […]
