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Do you know...Credit
Cards & Machines
- DISCOUNT RATES CAN INCREASE BY TWICE
AS MUCH IF THEY ARE NON- QUALIFIED OR MID-QUALIFIED ON YOUR CREDIT
CARD STATEMENT. THIS WILL COST YOU MORE IN CREDIT CARD
CHARGES. THIS CAN BE PREVENTED BY INPUTTING “AUTOBATCH”
INTO YOUR SET-UP.
- YOU CAN SAVE MONEY ON CHECK CARD TRANSACTIONS
BY ASKING YOUR CUSTOMER TO USE HIS PIN CODE ON THE TRANSACTION
RATHER THAN JUST SWIPING THE CARD.
- 3 BANKING INSTITUTIONS (THE BANK
THAT ISSUES THE CREDIT CARD, THE MERCHANT BANK THAT DOES THE PROCESS,
AND YOUR BUSINESS BANK, WHICH HOLDS YOUR MONEY)
HANDLE YOUR CREDIT CARD TRANSACTIONS. BY HAVING THE RIGHT
COMBINATION, YOU CAN RECEIVE YOUR FUNDS FASTER AND MORE CONSISTANTLY.
- VISA/MASTERCARD IS MORE CONCERNED ABOUT
THE CONSUMER THAN THE MERCHANT PROVIDING THE SERVICE. PROTECT
YOURSELF FROM LOSSES AND CHARGEBACKS BY PRACTICING PROPER CREDIT
CARD PROCEDURES, CHECKING ID’S AND SIGNATURES, AND KEEPING
GOOD RECORDS.
- YOU CAN FIGHT CHARGEBACKS BEFORE THEY
HAPPEN. WHEN YOU HAVE LARGE AND/OR UNUSUAL TRANSACTIONS,
CONTACT THE RISK DEPARTMENT OF YOUR PROCESSING BANK. THEY SHOULD
GIVE YOU INSTRUCTIONS TO PROTECT YOURSELF. IF THEY DON’T,
IT’S TIME TO CHANGE PROCESSORS.
IF YOU WANT MORE INFORMATION ON THE ABOVE FACTS
OR YOU HAVE ADDITIONAL QUESTION, PLEASE FEEL FREE TO CALL OR
E-MAIL US.
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