How much does your Merchant Processing price increase from Card Present transaction cost compared to Card Not Present (CNP)?

Those of you that take payments in the form of credit cards know that there is a pricing difference whenever the card is not chip read or tapped – Do you know how much your pricing changes?

To keep this adjustment to a minimum it would be most beneficial to have a pricing structure customized from the Interchange & Assoc (Wholesale) pricing, the chart identifies the variance.

If you are on Bundled pricing it is highly unlikely that you are able to identify individual charges, as charges are all inclusive. However, with Tier pricing you see the different cost breakdown with 3 to 9 various programs available. Let Merchant Connecting put it’s almost 40 years of experience to work for you to assist in identifying cost breakdown with our Complimentary No Obligation review, and potentially identify improvements in your merchant processing program and areas to save money.

We are here to help you succeed!

Prior to covid, where we did the majority of shopping in store, there was a push to keep “Qualified” (Card Present) costs lower and “backload” the higher rates on the “Non-Qualified” (Card Not Present) transactions.  Now, with the curbside pickups and deliveries being a large part of our shopping, we are learning that this pricing concept is no longer the pricing option of choice.  Unfortunately, there are a number of merchants that do not know how their merchant processing is set up  – Do You???

Merchant Processing through the Holidays

Not knowing what the status of Covid will be through the holiday season, and being aware how consumer choices have changed to more not in-store transactions, it might be wise to confirm the status of your merchant processing pricing.  Merchant Connecting would be happy to assist you to determine your program with our Complimentary No Obligation review.  We too are a local business and want to help wherever we can to strengthen the businesses around us to have a successful Holiday Season – How can we help you???

There are several ways for fraud to be committed, here’s a few tips to protect yourself.  With EMV in full force as of January 2021, there are additional requirements of the Authorization to Sales that now have an added fee by the Mastercard, Visa, Discover and American Express Card Associations. 

As an additional security mechanism, the cardholder may be asked to provide another authentication factor by entering a personal identification number (PIN) or by providing a signature.

Dipping is when the card is inserted into the reader chip-side first.  Please ensure you and your employees are trained accordingly. If the chip does not read and/or you receive an error message, please ask for a different credit card for payment. The card should never be swiped which will also assist in preventing fraudulent transactions. Any fees incurred by the Card Association will be passed along to the merchant. If you do not have working chip reader terminal, please contact us immediately.

Here’s are 5 tips to avoid chargebacks or request time to discuss terminal options –

Fighting for Chargeback Reversals
You should challenge as many chargebacks as possible. You can increase your odds of winning by using these tips from industry experts to get started.

Tip #1: Fine-Tune Documentation
To win a chargeback reversal, you must provide adequate “compelling evidence,” or documentation that contradicts the cardholder’s claim and supports your case.

Tip #2: Write a Rebuttal Letter
You’ll also need to write a detailed rebuttal letter for each dispute. Stick to provable facts and clearly explain context and meaning to demonstrate why the original transaction should stand.

Tip #3: Act Quickly
All parties in a dispute must abide by pre-determined time limits—in some cases, 5 to 10 days after receiving notice of the chargeback. Worse, the timeframes vary based on the card network, the processor, and other factors. The sooner the chargeback reversal process is initiated, though, the more likely it is to succeed…so make a point of responding in a timely manner.Tip #4: Understand the Reason
Every chargeback dispute comes with a reason code that shows the reason the cardholder gave for filing the chargeback. Each network has its own codes, but the reasons from card brand to card brand are similar. Knowing the different reason codes can help win chargeback reversals, but does little to help prevent future disputes, since reason codes seldom show the real reason for the chargeback (typically friendly fraud).

Tip #5: Avoid Unwinnable Situations
While fighting for a chargeback reversal is never easy, some chargebacks are significantly harder to fight than others: winning a dispute that originated in the US or the EU, for example, is easier than reversing a chargeback from Russia or Indonesia.

Take advantage of our Complimentary, No Obligation review to determine the most suitable plan for your business.

MerchantConnecting.com puts heart back in your credit card processing – others try but Merchant Connecting Can!!

Retail Business owners that have Tiered or bundles pricing programs give the control on merchant cost to the Processor – Would you like to control your own merchant processing costs with wholesale pricing?

Restaurants – are you sick and tired of paying 15-30 % per order to delivery companies? Have you not set up online ordering because of the potential costs? Would you reconsider starting online or like to reduce existing deliver service charges and curbside pickup to less than 5%.

Whatever your concern is regarding credit card processing, we are here to help. Let us know what frustrates you?

Take advantage of our Complimentary, No Obligation review to determine the most suitable plan for your business.

MerchantConnecting.com puts heart back in your credit card processing – others try but Merchant Connecting Can!!

MerchantConnecting.com puts heart back in your credit card processing – others try but Merchant Connecting Can!!