The United States Postal Service is causing many merchants to get chargebacks from their customers due to their inability to do their job and deliver packages in a timely manner with accurate tracking information. When a consumer purchases something from a business, they expect the item to be shipped and delivered in a timely fashion….
Here are 3 helpful tips to prevent financial losses because of chargebacks: 1. Document everything. Literally everything, including exclusions. 2. Keep good records, and have them readily available. 3. If you do issue a full or partial refund to resolve the chargeback, be sure to issue it digitally on the card you originally charged. DO…
If you’re a business trying to run a card-not-present transaction on your customer’s card, Visa and Mastercard have specific guidelines about how you should proceed if the initial transaction is declined: A card should always be run for the full amount owed, splitting a charge into lesser amounts on the same card simply increases the…
While the world is still amidst a global pandemic, many of us in the payment processing industry are seeing the effects on the business community in a way that no one could’ve predicted. BEGIN TRANSCRIPT: Good afternoon. Jaron Rice, founder and CEO of Magothy Payments. Today is April 17th and I wanted to give you…