Last week we discussed communicating with your payment processor - letting them know about changes in sales volume, products/services you sell, or anything else out of the ordinary that might raise red flags. This week we will talk more about chargebacks, how you can better avoid and deal with them, and how to handle other issues that could increase your chances of being terminated.
But here’s the problem - even if you are a dutiful merchant, communicate with your processor, reduce chargebacks, have excellent customer service, and run a great business for years, you still run the risk of being shut down, and seeing this picture when you open your app or browser.
I’m not saying there aren’t legitimate reasons for a merchant to be terminated, or that payment processors should assume all risk, I just believe that there is a better way than an automated email, holding funds for 6 months, and a 3 hour hold time to reach a customer support agent who doesn’t have the authority or knowledge to help.
In the end, these payment processors don’t care about your business. They don’t care about your expenses, your family, your employees, your payroll - you are just a number to them.
There is a better way, and we are doing it. 🎤
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