If you happen to use PC Charge for your merchant account transactions listen up! I have been running into merchant accounts having major problems with credit card transaction downgrades because PC Charge is not set up correctly. This means these businesses are paying more than they need to for their merchant account.
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AVS stands for Address Verification System. This system checks to see that the billing address given by your customer matches what the credit card issuing bank has on record. If your merchant account is set up retail your terminal will prompt you for the customer’s zip code. If your account is set [...]
I just finished reading a press release from a competing company. In the release the president of the company wrote,
"Everyone is trying to come up with a better system. There isn’t one. It is just about rates…the only thing that gets the merchant’s attention is, ‘How cheap is the rate?’"
From my experience [...]
Pricing Difference Between a Retail and a MOTO Account
Both Visa and MasterCard see a card not present (CNP) transaction as a greater fraud risk than when a card is present and swiped. Therefore, both have a .31% surcharge on CNP transactions. So let’s say you have a base discount rate of 1.85% on [...]
Let’s start off with what Retail and MOTO mean:
MOTO = Mail Order Telephone Order, credit card card not present.
Retail = Store where card is present and swiped.
As you many be able to tell by the above definitions, the key issue that defines what the account should be is whether or not your customers credit card [...]
