The past several years have been a complete paradigm shift for the restaurant industry. Although noncash payments were always a norm among restaurant clientele, it became an absolute necessity, with most activity shifting to online and remote overnight. Based on the 2021 Diary of Consumer Payment Choice by the Federal Reserve Bank of San Francisco, […]
Essential Tips for Reducing Restaurant Payment Fraud Read More »
Merchant services providers will dictate the rates you spend over your risk level. A merchant services provider will review your risk level surrounding your operations and how often you manage returns and other issues. A high-risk business will spend more on interchange fees and other markups. It may also have more stringent contract rules and
What Do Merchant Services Interpret As Low-Risk Accounts? Read More »
Chargebacks are disputed everyday at every business, sometimes they can be difficult but have you ever looked back and analyzed the true cause for the chargeback? Chargebacks are a common problem for businesses and especially for high-risk businesses. Chargebacks protect the consumer from fraudulent transactions as well as rectify errors from simple miscommunication. It’s not
How to Analyze the Root Causes of Chargebacks Read More »
High risk businesses are subject to more expensive merchant service charges than others. A business will spend more to process each transaction if it is a high-risk entity. It could also be subject to increased charges. Contract terms for the business could also be restrictive. Some companies may even have some of their revenues tied
Why is a Business Considered High Risk For Merchant Services? Read More »
No one wants to think about fraud when dealing with their business plans, but it is a concern that can develop all the same. Fraud can be dangerous, as it can cause someone to request a chargeback because that person didn’t actually do business with you. You could lose significant amounts of money from fraud.
What Are the Types of Fraud That Can Result In Chargebacks? Read More »
Do you run a business that offers CBD oil? You might be in a great spot, as the demand for CBD oil and other CBD-related products is on the rise. People are exploring what makes CBD useful, and many people who have tried it know how effective it can be for their needs. It can
Steps to Get Your CBD Oil Merchant Account Read More »
Merchant services for hotels work a little differently from what you’d find in other industries. Instead of processing sales or issuing refunds, you will check in and checkout your customers. The process sounds simple, but you could potentially deal with chargebacks if you aren’t careful in your work. You must provide the proper dates for
How to Handle Check-In and Checkout Processes Through Merchant Services For Hotels Read More »
You may assume it would be impossible for you to obtain a merchant account if you have poor credit. You might have gotten a bad credit rating due to issues like your business not being able to pay off its loans. You could also have a poor rating because your business is constantly dealing with
How to Get a Bad Credit Merchant Account [2024 Update] Read More »
Chargebacks are among the scariest concerns you might come across when running an online business. Chargebacks can keep you from earning the money you deserve. They can hurt your company’s credit rating. The added chargeback fees some merchant service providers might charge will make matters worse. The fact that you don’t have physical access to
Address Verification Service (AVS) Prevents Chargebacks Read More »
Your business may already be a high-risk entity because you’ve been dealing with chargebacks. Chargebacks are inconvenient for how they cause you to lose money from both lost transactions and fees imposed by your merchant service provider. The worst part about chargebacks is that they can occur for various reasons. It could be from fraud,
7 Ways Your High-Risk Business Can Prevent Chargebacks Read More »
Cyber Fraud has been a concern that merchants have been dealing with for a while. But the increasing use of online payments during the global pandemic has forced merchants to take it a little more seriously. The risk of fraud has never been greater than it is now. People are engaging in fraudulent activities while
Merchants Called To the Offensive In Battle Against Cyber Fraud Read More »
Restaurants have already been hit hard during the pandemic, as they are subject to various restrictions. Many places cannot open for anything other than delivery. Reduced dining room capacity keeps these businesses from bringing in as much income as usual. There’s also the worry about further restrictions coming later. One other concern that is harming
Friendly Fraud Becomes Sworn Enemy For Restaurants Read More »
An unfortunate part of running a business is the risk of chargebacks. While they are a natural part of accepting credit card payments, if they get too excessive, it can make you a ‘risky’ merchant, causing you to lose your merchant account. Here’s what you must know. What is a Chargeback? A chargeback is a
What to Know About Chargebacks, How to Avoid Them, and How to Win Them Read More »
The transition to chip cards, or EMV (Europay, MasterCard and Visa chip technology) hasn’t been an easy one for merchants to adopt. In order to ensure that they are compliant with new rules, merchants have had to upgrade credit card processing systems in order to accept the new chip cards. Failure to do so leaves
Amex Changes EMV Chargeback Policy Read More »
Credit card processors and merchants in the U.S. are starting to experience the true implications of the enormous switch to the EMV system, which stands for Europay, MasterCard and Visa. In the wake of several terrible data breaches by hackers who went after major retailers such as Target and Home Depot, the payments industry has
Visa’s Take on EMV Liability & Chargebacks Read More »
If you surveyed everyone in the payment processing world, both merchants and processors, what they wish they could do away with for good, I would venture a guess that 8 out of 10 would say chargebacks. Unfortunately this is not going to happen in the foreseeable future. And the reason for that is simple: the
Eleven-letter Dirty Word: Chargebacks Read More »
This is the latest installment in The Official Merchant Services Blog’s Knowledge Base effort. Well we want to make the payment processing industry’s terms and buzzwords clear. We want to remove any and all confusion merchants might have about how the industry works. Host Merchant Services promises: the company delivers personal service and clarity. So we’re going
Industry Terms: Chargeback Read More »