- Merchants and agents alike are capable of calling in and speaking to a live person. No long hold times or voicemails.
- We represent over 10 different banks and processors worldwide. Ensuring that agents are able to place the majority of the accounts they sell. Don’t miss placing a high risk merchant because your current solution only uses one bank.
- Our attrition rate is under 3% annually without contract termination fees! The industry average is over 20%. Merchants stay with us because of our pricing and support.
- We process hundreds of millions of transactions annually.
- Best of all, our agreement is non-exclusive! Work with as many different processors/banks as you would like. We guarantee we will earn the majority if not all of your business.
- Call today and let us show you how we can help increasing your residuals while also exceeding your expectations.
HOW TO REDUCE FRAUDULENT ACTS AND CHARGEBACK?
The greatest hindrance to the smooth functioning of the merchandise business is fraud. The frauds create a foul play with the online transactions. Because of the major frauds that take place, the online merchant account holders feel that the issue of the credit card is a serious matter for the business. Most of the fraud cases take place during the online transactions. Chargeback is created in this way. When there is a foul play in the online merchandise business, the customer returns or complains about the inadequate services. At this time, the service provider imposes some amount on the merchant account holder as chargeback fee.
The greatest fear of the merchant account holder is the chargeback fee. Whenever any transaction is reversed or sent back to the merchant account holder, chargeback is imposed. This is a loss for the merchandise business. A merchant account holder should be capable as well as efficient to handle the merchandise business even in the toughest market conditions. If there is maximum number of charge back filed against the merchant, then the credit card company will terminate the merchant account. It is, then, considered as a Terminated Merchant File (TMF). If such cases occur in merchant account, then the merchant account holder has to bear the overall loss of the business.
There are some tips as how to reduce the fraudulent acts and chargeback.
1. In order to protect the smooth functioning of the merchandise business, the merchant has to be very careful while making transactions with the customers. Card examination is the easiest way to be alert and aware of the faulty attempts of the frauds. The card contains the expiry date on it, the merchant can have a careful look to check whether it is a validated card or not.
2. The card holder’s signature should be present on all the credit or debit cards. The merchant should check for the signature at the back over the magnetic strip. If there is no signature or if the signature does not match with the current customer’s signature, then the merchant should immediately refuse the card.
3. Another way to be alert and check the correct card is by checking the CVC2 or CVV2 numbers. These numbers are present on the credit card and it is located at the back side of the credit card. If any faults are seen with the credit card CVV2 number, the credit card issuing company will charge chargeback fee to the merchant account. This is a 4 digit security code which is meant for the safety reasons.
4. The merchant account holder should also use the address verification system. In this system, the online service tracks the IP address of the internet network. This will protect the merchant account from various scams and frauds.
5. The merchant account should also scrutinise the international orders. There are high chances of risk in the online international businesses.
There are many other ways to reduce fraudulent acts and chargeback for the merchant accounts.
