123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

Managing Your High Risk Merchant Account

By Expert Author: Alisha Wilson

Once you have taken the time to research the ideal merchant account from a list of high risk merchant account providers and have obtained reasonable rates, you need to protect your account by using sound management procedures. By managing your account with vigilance, you can make sure that your rates do not escalate.
You will need to manage your chargebacks. Chargebacks are the refunds made to a customer, normally instigated by the customer’s issuing bank, the credit card company, by reversing a transaction up to two years following the date of the transaction or expected delivery of the items paid for. If you have a high volume of chargebacks, your online payment processing can be jeopardized. This makes communication between you and your customers important to reduce the chance of a chargeback being lodged against you by the issuing bank. This can be reduced by encouraging customers to contact you first rather than contacting the credit card company so that you can see what you can do to put things right.
Make it straightforward for customers to get in contact with you by including every possible route to get in touch with you by mail, email, online form, telephone, etc. If the customer cannot contact you, then they will find it easier to contact the issuing bank. You should not be concerned that having your details available to customers will result in increased volumes of chargebacks, as it is often not the case.
When customers purchase goods or services, they will see a short descriptor on their credit card statement. Try to make sure that the customer can make sense of the descriptor and that it includes the name of your company.
Online payment processing still requires regular contact with your customers to help build a lasting relationship with them. Send regular status messages about the processing of the customer’s order, provide tracking information, confirmation of payment, contact details, and allow customers the opportunity to cancel the order before it is dispatched.
Do not delay refunds unnecessarily, as chargebacks will cost you more in the end. Managing your account from any of the High risk merchant account providers makes it better to issue a refund rather than defend it as it will still show up on your account statements and affect your ability to achieve better rates when you move accounts.
Respond to customer disputes quickly and supply supporting information for queries on a sale from the issuing bank. Consider customer fraud protection by monitoring transactions and screen sales from certain countries or for certain amounts unless verified by the customer or issuing bank. Also consider validating the credit card details used in a transaction.
Finally, make sure you comply with the terms and conditions of your merchant account. You may have online payment processing limits that you should try to stay within the limits. If there are material changes in how you use your merchant account, you should talk with your high risk merchant account provider sooner rather than later. Give your merchant account provider as much notice of changes in online payment processing volume because they hate surprises.
iPayDNA enables most e-commerce merchants to accept online payment processing through various payment channels. For more information High risk merchant account please visit http://www.ipaydna.biz/

Total Views: 53Word Count: 565See All articles From Author

Business Articles

1. How To Success The Method Of Advertising A Website With The Help Of Ppc Management Services
Author: Uksoftech

2. Empire City Locksmith Presents Emergency Locksmith Services For Reasonable Prices
Author: davudobuya55

3. Empire City Locksmith: Find How To Enter In Home Or Car After Losing Keys
Author: davudobuya55

4. Empire City Locksmith Presents Best Technical Assistance For Guaranteed Security
Author: davudobuya55

5. Five Features To Notice When Hiring Locksmith Services In New York
Author: davudobuya55

6. Hire Empire City Locksmith To Get Superb Services In New York
Author: davudobuya55

7. What’s Fun About Co-working?
Author: Space Whiz

8. Importance Of Our Vegetarian Recipes To Your Health
Author: davudobuya55

9. Reliable Outlet For All Forms Of Executive Gifts
Author: davudobuya

10. Get Latest Executive Gifts In Dubai
Author: davudobuya

11. Best Store For Merlin Gifts
Author: davudobuya

12. Best Places To Purchase Ramadan Corporate Gifts
Author: davudobuya

13. Best Place To Buy Promotional Gifts
Author: davudobuya

14. Best Place To Buy Highly Affordable Merlin Gifts
Author: davudobuya

15. Best Place To Buy Company Gifts In Dubai
Author: davudobuya


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: