We posted back in January 2021 “Protect Your Business Against Disputes and Charge Backs” Click here to view previous post. 

Since then we continue to see chargebacks / disputes increasing for all types of merchants. While it’s impossible to avoid charge chargebacks / disputes entirely, the good news is there are simple steps you can take to reduce the number of chargebacks / disputes your business receives and protect your profits. We outline what to do if you receive a chargeback / disputes and the actions you can take to reduce their occurrence.

As a business there are many things to be careful of when entering into contracts and agreements.  Equipment Leasing might be on the top 10 list of shady deals or a Rip Off! Typically this involves a credit card terminal or other devices like a Clover Mini or Clover Flex.  It may also be a Point-of-Sale System. These equipment leases are NON CANCELABE for the term of the agreement!

This post is about how many processors use PCI as a way to charge you a fee and increase their revenue.  

PCI stands for “payment card industry” and it’s the first half of the acronym PCI-DSS. The second part stands for “data security standards.” While you may see the full term PCI-DSS, it’s more common to see just “PCI.” However, it refers to the same set of standards.

Fraud detection should be top of mind for every business, but particularly for those selling online. Start protecting your ecommerce business today with the following easy-to-implement fraud prevention tools and tips.

Let’s understand Interchange.  Interchange or Interchange Reimbursement is a fee charged by the card brands that the acquirer* pays to the card issuing bank on each sales transaction. Interchange Reimbursement is published information. 

Every year just with the Day Light Savings time Visa, MasterCard, Discover and American Express will make adjustment to the interchange reimbursement tables. Last year these major card networks decided, amid the pandemic, to hold off on adjusting interchange fees until April of 2021. What make this year stand out is the amount of the increase. Some estimates are a 20% increase for some business types.

In the news, we hear of security breaches from large retailers that credit card data is exposed and thus stolen. This data is then posted on the dark web to be sold to others that will try and use these credit card numbers for fraudulent purchases. Not all of the credit card numbers are still valid and usable. The fraudsters will go or call an unsuspecting business looking to purchase expensive items that can later be fenced and converted to cash.