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Proven Fighting Technique:
Chargeback Prevention
and
AVS
Address Verification Strategy
The very biggest topic of concern today is fraud. To fight the amount of
it in the credit card processing industry, the bank networks have come
up with several systems to double check certain information during the
course of a sale. Fraud is especially high when it comes to chargeback
disputes. A chargeback occurs when a customer claims they did not
authorize a credit card sale or amount for whatever reason.
One
of these sales situations occurs when a credit card number must be typed
into the credit card processing terminal or software. During this time,
the card is not physically being swiped through a magnetic card reader.
Therefore, the software and processing company's software protectin program knows
it's being manually typed in. This type of sale is considered a higher
risk and as a result, gets assigned to it a higher processing fee. All
companies like Visa and Mastercard have this type of chargeback system
in place.
Now,
when a typed in or "keyed" in transaction (sale) occurs, the
terminal you are using should prompt you, on the screen, to enter
additional address information only your customer would know. What the
credit card company wants to know is, "Where are the statements
mailed to for this particular credit card?" This helps avoid
chargebacks.
You
see, Visa and Master, for example, want to match up what the customer is
claiming is the address, to what they have in their files. If you enter
incorrect information, the card will still process and you will get an
authorization approved code. Therefore, what you should really do is,
look at a customers drivers license and verify the signature looks
similar.
The
next step is to reduce your risk by gathering some of your customers
information. You will want to do this because an avs match
still
doesn't protect you from a chargeback dispute with the customer.
Here's
how to win 100% of those chargeback disputes even though the avs address
verification service was used.
Read the entire article
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Ralph
Prado
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Blatant
Advertising:
CREDIT CARD PROCESSING
Ok.
Here's my sales pitch area.
If you've never accepted credit cards at your
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$10/month
(A monthly statement fee)
Visa
& Mastercard Credit
1.68%
+ .25 cents per transaction
Visa
& Mastercard Debit Cards
1.38%
+ .25 cents per transaction
We
also have a monthly minimum required that your account must
reach.
$25.
This means that your total sales must be around $1,600 a month
(1.68% X 1600= $26.88) Otherwise, if your sales are, let's say
$1000, meaning only $16.80 has been generated in fees, then
you'll get charged the difference ($8.20) that month to make up
the difference you didn't reach in fees. Does this make sense.
Those
are the basic fees. Please contact me to explain the other stuff
that you should be aware of. Or click here to read more about credit
card processing fees.
Want to learn even more? Go
back to my credit
card processing home page and click on another topic.
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