As a business, you want every customer to be completely satisfied with their purchase. However, even when you have the best quality of products and services, there are times when customers decide to get their money back. Depending on the circumstances, this may lead to a chargeback or refund. For merchants, these transactions can quickly […]

When you’re wrapping up your MBA and starting a business, a lot of the focus is on lowering your overhead costs, paying attention to variable costs, and tracking your bottom line. Often, entrepreneurs forget about the many fees charged by payment processors. However, this forgotten fee can quickly add up. By being proactive about managing […]

Business owners who process card payments deal with thousands of transactions every month. Statista reports that the number of payment cards in circulation reached over 25 billion in 2022 and is expected to cross 28 billion by 2027.  But what happens when something goes wrong? What if a payment gets stuck, a customer wants a […]

The “do not honor” decline is one of the most common and frustrating payment errors that business owners face. It’s vague, offers no clear explanation, and often leaves both you and your customers wondering what went wrong. Available data shows that as many as 92% of all American Express decline codes are flagged as “do […]

Chargebacks – those annoying, costly, and in many cases, entirely preventable problems that plague many businesses. If you’re a high-risk business, you already know plenty about chargebacks and the chaos they can cause, especially when they all come at once.  You might think that it’s not the end of the world if you lose a […]

You might think that transaction IDs are nothing more than a reference number. Something boring to file under other documents, like endless terms and conditions. Yet, thinking that way is a mistake. The truth is that transaction IDs can actually give you a wealth of information, helping you spot different types of fraud and guiding […]

Unfortunately, not every intended purchase actually ends in cash in your bank account. It would be wonderful if that truly was the case, but a large proportion end up either refunded or voided. It causes a headache in many ways, but having a clear strategy in place can do a lot to reduce the stress.  […]

Have you ever looked at your bank statement after making a few purchases, and noticed a name you don’t recognize? You might panic, and wonder whether you’ve been a victim of fraud. Yet, in most cases, these names are simply merchant of record companies instead.  You might wonder why companies choose to use merchant of […]

Wouldn’t it be easier if every payment happened within seconds from initiation to settlement, without any intermediaries? Well, yes, but we’re certainly nowhere near that point yet!  Instead, behind every single transaction is a complex journey. It’s not as simple as a customer tapping a card and the money ending up on your merchant account. […]

Moving money from one place to another should be simple. And in most cases, it is. Yet, when something goes wrong, be it a rejected payment or money going somewhere it shouldn’t, it causes a world of headaches. As a business owner, you don’t have money to burn, and that’s why understanding each specific ACH […]