We are seeing disputes on the increase recently, which is why we want to bring up this subject and provide info to help protect your business.
Although chargebacks and disputes are an unwelcomed part of business operations, you can minimize the chances that you’ll be impacted by this growing hazard.
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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.
Most people know that money isn’t clean but they also forget that their credit cards pass through just as many hands as the dollars and coins in their wallet. Likewise, the many touchpoints on a terminal—such as inserting a card, entering a PIN, and signing—heighten the need for a cleaner payment experience. Luckily, with contactless payments, proper sanitization, and other helpful tips, a cleaner way to pay is possible.
Necessary steps to take in keeping your terminal sanitized, with the purpose of minimizing the spread of bacteria and other germs.
Tools Needed: 60% or higher Alcohol-based Hand Sanitizer, Card Reader Cleaning Card & Clorox Disinfecting Wipes or Cord 7O% Isopropyl Alcohol Wipes. Upgrade time has come for any merchants, (or anyone), still using Windows 7. As of today, January 14th 2020, Windows 7 will no longer receive security updates.
What this means for you is a far less secure system then Windows 10. I encourage you to research upgrading your systems to Windows 10. Why use a local service rep for your credit card processing? Because when you go elsewhere they don’t look out for you. Here is another example. Worldpay charges, disclosed in fine print, anger small U.S. merchants.
Free trials which roll into permanent billing are being regulated HEAVILY by MasterCard.
For each payment thereafter, the merchant will have to send a receipt to the cardholder for each transaction by email or text message with clear instructions on how to cancel the service if the consumer so desires. This is really great for cardholders who get into these free trials that never end. Read more at: http://newsroom.mastercard.com/2019/01/16/free-trials-without-the-hassle Let us know how we can help you with better service or with Point of Sales Systems or credit card processing, contact us anytime via email info@tampabaymerchantservices.com or call us at 727-916-7294. Based on where we are now, it is not hard to see we are almost there. Not so fast! This month (Feb 2019) New Jersey’s legislature passed a bill requiring merchants to accept cash at the point of sale. Several big cities, including New York, are considering similar measures. The Philadelphia City Council on Thursday (2/14/19) passed an ordinance that would prohibit most stores from refusing to accept cash or charging cash-paying customers a higher price, according to Philly.com, a news site affiliated with The Philadelphia Inquirer.
Are you looking for a way to still accept credit cards, but not having to deal with the large monthly expense? Now you can thru a legally vetted cash discount program. Unlike surcharging, cash discounted program is allowed in all 50 states and is compliant with all federal laws and card processing regulations. It can be applies to all card types, debit and credit cards.
Just as sure as spring weather and flowers are blooming, it’s time you may be “hosed” by your credit card processing service provider. This is because it is the time of year the card brands release and adjust the interchange fee schedule. When this happens, many of the credit card processing companies will use this as an excuse to adjust their fees. While we cannot do anything about any increase in the base cost (interchange reimbursement) of taking credit cards, we can maintain our processing cost of our clients’ accounts. We see this time of most of our competitors as an excuse for increasing the fees they charge. We have posted an example to show you what we mean:
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February 2024
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