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Old 02-Jun-2006, 09:45
Corey Bryant Corey Bryant is offline
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Re: It's My Merchandise and Services, It's My Money, or Is It?

I just posted a GID Community blog entitled: It's My Merchandise and Services, It's My Money, or Is It?.

Quote:
Chargebacks hit merchants on a daily basis. Consumers either did not receive their products or they were not happy with the services or products they got, or one that is coming up even more so now, regret. Or maybe it was fraud? From someone using a stolen credit card, to Johnny using his mother's credit card to purchase that new fishing pole.

When applying for a merchant account, the acquirer must consider the credit standing of the merchant. Merchant acquirers will perform a credit analysis, but this analysis is entirely different from asking a bank for a loan. read more...

Please let me know what you think.

This is an auto-generated message posted by GIDNetwork™ on behalf of the author.
  #2  
Old 30-Jul-2006, 10:23
Dean Sorensen Dean Sorensen is offline
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Re: It's My Merchandise and Services, It's My Money, or Is It?

Chargebacks are what keep merchants honest. If they exceed 1% in tickets or in volume, the account could be terminated.

For example, a high risk company had a $20M dollar security deposit with their processor. Then they took in $50M in sales, closed their doors, and kept $30M above their deposit, burning their processor.

$30M!!

Unfortunately, some processors will block the account of honest merchants, very honest merchants, for no reason at all. And, they don't accept the documentation of the merchant that well proves the merchant sent what was sold.

Some customers and competitors burn merchants by fraudulently using chargebacks. These also are tracked.

Hope it's been of good info to you.
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Old 02-Aug-2006, 08:45
stymiee stymiee is offline
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Re: It's My Merchandise and Services, It's My Money, or Is It?

Kind of difficult to give this blog post any credibility when it seems designed only to promote the poster's own services.
 
 
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