MERCHANT STRONGHOLDLD
MERCHANT STRONGHOLD IS THE #1 HIGH-RISK MERCHANT SERVICES PROVIDER
KNOWLEDGE IS THE KEY TO FIGHTING CREDIT CARD TRANSACTION The D I Sdecision P U T E Sto sell products online means learning new
terminology, processes, and technology. Plus, the upside and downside of running an e-commerce business. One of the first things to develop is an intimate knowledge of the credit card processing system. Also the transaction dispute resolution.
HOW IT WORKS When a brick-and-mortar business accepts credit or debit card payments for its products or services signature is available from the customer. The customer is ordinarily physically present to present their card for payment. Having a signature is the merchant’s proof that the customer authorized payment. The product or service delivery was there and the customer was initially happy with their purchase. But, when an e-commerce business receives payment for an online order. Cardholder verification, proof of delivery and customer satisfaction is more difficult. The reason being there is no visual card examination or in-person customer contact with a written signature authorization. These are defined as card-not-present transactions.
TRANSACTION DISPUTES There are a variety of reasons for transaction disputes and cardholders have 60 days in which to file a dispute. As soon as a cardholder disputes a transaction, one of two things will happen. The issuing bank will make a retrieval request or initiate a chargeback. When an issuing bank contacts a merchant to obtain information about a transaction before initiating a formal chargeback case. This is an issuing bank’s first attempt to settle a dispute and can get via email or over the phone. Or through a conference call with the customer and the merchant. During this process, the merchant gets an opportunity to explain why the transaction is valid. As a result, the retrieval process is not often used because customers are reluctant to confront a merchant over the phone.
CARDHOLDER A person with a credit or debit card who has doubt on the validity of a transaction to their issuing bank. Hence, this is ordinarily the customer who gets products or services online.
ISSUING BANK The bank from whom the use of credit or debit card takes place. It is a bank that initiates chargeback cases and requests provisional credit from merchant banks.
MERCHANT’S BANK The bank sponsoring a merchant account that gives a merchant the ability to accept credit and debit card payments.
PAYMENT PROCESSOR A company selection by a merchant to handle their credit and debit card transactions.
Contact Information: Address: 10300 49th Street N Suite 427 Clearwater, FL 33762 Contact No: +1 (888) 622-6875 Fax Number: +1 (844) 465-4723 Email: info@merchantstronghold.com Website:
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