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AVS Downgrades Increase Your Fees
Address Verification System (AVS) is a common fraud-prevention measure for card-not-present transactions. AVS checks that the purchaser is in fact the cardholder by requesting the address and ZIP code for the card and comparing it to the bank’s records. Presumably, a fraudster would not know this information and would be prevented from making an e-commerce or over-the-phone purchase.
Christina Lavingia
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Amex OptBlue vs. Amex Direct
Why don’t businesses accept American Express as commonly as Visa and MasterCard? Traditionally, a huge profit driver for Amex was its high Flat-rate processing, making it more expensive and less appealing to businesses. True to form, Amex also operated a bit differently than Visa and MasterCard when it came to the configuration of its merchant accounts until now.
Christina Lavingia
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What Are the Most Common Credit Card Decline Codes?
Contrary to popular belief, insufficient funds is not the most common reason for a credit card to decline. In fact, there are a plethora of credit card decline codes that occur more frequently. To relieve the awkwardness that ensues after stating “Sorry, your credit card was declined,” we’re identifying the most common credit card decline codes and how to solve them to alleviate tension at checkout. Payment Processing Demo Schedule 15 minutes with a payments expert Get a customized PayJunction product walk-through Understand requirements and pricing Determine your SAVINGS! GET DEMO NOW
Ursula Librizzi
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Unethical Providers Charge Non-Qualified Interchange
Editor's Note: In 2021, Visa introduced a legitimate classifications of 'Non-Qualified Consumer Credit' and 'Non-Qualified Commercial Credit.' However, if you see Non-Qualified for other card types (Mastercard, Discover, Amex) it is still considered a hidden mark up fee.
Ursula Librizzi
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Processing Refunds? Beware of Additional Fees
Unfortunately, unethical Merchant Account Providers are constantly conjuring up new ways to hide fees and make more money off their customers. Part 5 of this series covered one way providers can be deceptive when your business runs returns. In part 12, we will further explore unethical issues related to refunds. Payment Processing Demo Schedule 15 minutes with a payments expert Get a customized PayJunction product walk-through Understand requirements and pricing Determine your SAVINGS! GET DEMO NOW
Ursula Librizzi
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Improper Merchant Underwriting Directly Affects Your Business
To get a traditional merchant account, your business must go through an extensive review process called merchant underwriting. Unfortunately some Merchant Account Providers don’t effectively underwrite businesses, which can lead to issues down the line.
Ursula Librizzi
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