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Chargeback Overview

A chargeback is a dispute between a merchant and its customer (who paid by credit card). The customer or cardholder tries to claim that their purchase wasn't fulfilled by the merchant, etc. and the merchant tries to prove that they did adequately render service by providing a receipt, signed agreement, recorded conversation, etc. The

By |2019-12-29T13:36:55+00:00December 27th, 2019||0 Comments

Tips to Reduce Interchange Expense

Swipe cards instead of manually entering the card number during a face-to-face environment. Utilize the Address Verification Service (AVS). By confirming the zip code; you reduce your fees, and this adds a layer of protection against accepting a stolen credit card. Settle or close your transaction batch the same day the authorizations occur. What

By |2019-12-29T13:34:55+00:00December 27th, 2019||0 Comments

Payments Explained

How a Credit Card is 'Processed' What happens after a credit card is swiped or keyed? There are two main 'processes': Authorization and Settlement. Each function requires a series of communications between the Acquiring Bank and the Issuing Bank, (i.e., the bank that issued the customer's credit card). This communication transmits via the card associations

By |2019-12-29T13:22:02+00:00December 27th, 2019||0 Comments