A chargeback is the result of an action taken by a cardholder who disputes a credit card transaction through their credit card issuer. The card issuer initiates a chargeback against the merchant’s account and the funds are withdrawn unless the chargeback is reversed. Typical Chargeback Reasons Both Visa and Mastercard have different chargeback reason codes…...
As an owner of a business, using credit cards is essential to ensure that your company keeps going and enables its growth. For most business owners, options such as purchasing a large sale system or wireless terminal are not always convenient. Luckily, there are other alternatives such as mobile credit card processing. If you usually...
High-risk merchant accounts are credit card processing accounts where the processing banks deem the merchant as high-risk. Why Do You Need To Apply For a Merchant Account? In a simple way, you need to obtain a merchant account for your business to accept and process both credit & debit cards. Reasons Your Business Can Be...
A merchant account is a unique type of account whose purpose is to process credit or debit card transactions and deposit to a business’s bank account. If your business allows the use of credit cards for payment, it is necessary to have security steps that make sure that the customers’ information is secure. Take a...
As a business owner, when you apply for a merchant account, you are often torn between the idea of having a processing terminal or not. If you come to the conclusion that you need one, the next task is finding the appropriate processing terminal. Choosing a processing terminal is not an easy task as there...
An electronic payment refers to any payment method that does not involve cash, but rather a debit or credit card. There are many electronic payments today in the market, and they continue to develop. Here is some information about some electronic payment methods. Some electronic payment methods to look out for… Card-Present Transactions For businesses that...
Due to the increased spending that occurs during the holiday season, scammers and thieves anxiously sit behind their computers with clever new ways to take advantage of both consumers and merchants. Since today more and more shopping takes place online, this makes it even easier for thieves to defraud innocent shoppers. The Internet is littered...
The recently passed Senate Bill 97 (SB 97) will go into effect on October 1, 2015, in the state of Texas. The bill was first received by the Secretary of the Senate in November of 2014 and was signed by Governor Abbot on May 28, 2015. Here are some rules on age verification… Age Verification...
A common question among business owners looking to obtain a merchant account with Maverick is the requirement for a social security number when applying for a merchant account. Some merchants, who may have had accounts with their current processor for a number of years, are skeptical of the regulation which came into play in 2001...
The Payment Card Industry Data Security Standard (often shortened to “PCI DSS” or just “PCI”), is a set of data security requirements established and governed by Visa®, MasterCard®, American Express®, and Discover® to protect cardholder account information. Here are facts about PCI Compliance. What is the PCI & How Does It Affect My Business? PCI DSS...
