Comments on: Payment Processing – Getting Your Money’s Worth (Part 3) http://www.retailpro.com/community/blog/index.php/2010/05/21/payment-processing-getting-your-moneys-worth-part-3/ Just another WordPress weblog Thu, 02 Feb 2012 22:34:54 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Ryan H. http://www.retailpro.com/community/blog/index.php/2010/05/21/payment-processing-getting-your-moneys-worth-part-3/comment-page-1/#comment-63 Ryan H. Tue, 30 Nov 2010 21:16:47 +0000 http://www.retailpro.com/community/blog/?p=52#comment-63 Thanks for the very extensive overview. Your discussion seems to focus on mainly brick and mortar processing though you do touch on the 'card not present' fees. In the age of online stores, some of the challenges are different. For example, it's harder to have an ironclad relationship with the customer. Chargebacks can kill everything. I know someone who had a small business which was effectively ended because of a huge chargeback. Chargebacks also have monthly limits. There are percentage limits and hard limits. I think MasterCard limits chargebacks to 50. The easy way to avoid chargebacks is to give customers an easy way to contact the merchant and be ready to credit the customer. If not, they will just do a chargeback which is far worse than a credit. Thanks for the very extensive overview. Your discussion seems to focus on mainly brick and mortar processing though you do touch on the ‘card not present’ fees. In the age of online stores, some of the challenges are different. For example, it’s harder to have an ironclad relationship with the customer.

Chargebacks can kill everything. I know someone who had a small business which was effectively ended because of a huge chargeback. Chargebacks also have monthly limits. There are percentage limits and hard limits. I think MasterCard limits chargebacks to 50. The easy way to avoid chargebacks is to give customers an easy way to contact the merchant and be ready to credit the customer. If not, they will just do a chargeback which is far worse than a credit.

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