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How Does Credit Card Processing Work?
the transaction cycle The customer presents a card to the merchant for purchase of goods or services after the card is swiped or entered into the point of sale software the processor sends out for authorization through the payment processing network. The issuing bank approves or declines the transaction based on funds available. The transaction … Read more
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How To Avoid Chargebacks And Associated Penalties
If you have to take that card and key the transaction in it’s usually a higher cost for you to accept that card because there is additional risk involved. In this case, even though it may be a face-to-face environment, you will be keying it in so it looks as if it was a transaction … Read more
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Five Red Flags Of Fraud And What You Should Look For
When fraudsters buy something with a stolen credit card, they obviously won’t ship the product they purchase to the actual credit card holder so they’ll need to find an address where to ship the merchandise. Typically, they don’t want to ship it to their house in case there’s an investigation they don’t want anyone to … Read more
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What is Credit Card Fraud and How Do You Minimize It?
You can sometimes identify those kind of transactions being shipped to a warehouse or being shipped to a big apartment building. Often, the billing address entered during checkout doesn’t match the billing on file for the card holder and this is something that’s more easily identifiable. This is called an AVS (address verification service) mismatch … Read more
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PCI Compliance And Why It’s Important
Why PCI Compliance Is Important? For most of the merchants we fulfill the requirement of the questionnaire that you fill out annually by saving your answers for the following year. A third party company does PCI compliance for credit card payment processors by doing a scan of the system. PCI compliance can affect your business … Read more
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Credit Card Payment Processing; The Top Benefits Of Switching To Redstone Payment Solutions
Redstone Payment Solutions Nationwide merchant services has grown organically in the New Jersey area and a lot of that rapid growth has come from our approach to the marketplace. We take relationships seriously. All banks say that relationships are important but we really walk the walk and talk to talk when it comes to that. … Read more
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What Does It Cost You To Accept Credit Cards And Wait To Get Paid?
What’s Confusing About Merchant Services Account Agreements? “Merchants need an experienced accountant to understand the rate structure,” Bergman said. “The merchant needs to be interested in saving money and have patience so that it can be explained thoroughly.” The often-confusing credit card rules have always attracted considerable attention in Washington, however most legislation in the … Read more
