Merchant's pain to gain a good position in the market is very difficult. Customers never get to know what all things a merchant has to go through. Credit card swiping is a simple, easy-going task of hardy 2 secs.
Credit Card Processing?
The moment a card is swiped against the purchase of any product or services, which transacts with the help of payment gateway is known as credit card processing.
High-Risk Business and Friendly Frauds
A business that deals with a higher rate of failing transactions. Credit cards and their processing becomes difficult depending on the nature of business. Apart from keeping e-commerce business balanced and stabled frauds are the one which always ranks on the list.
Finding frauds and then detecting it whether its true or fake is the toughest task.
There are some scenarios where a merchant needs to look after what all he/she goes through.
1. Customers win by 1-0
Here, the customers win the case by 1 point and the merchant losses it by scoring 0. True, this usually happens when the customer goes for the subscription of the goods or the services for a year or a couple of months and unknowingly after a certain point of time the amount gets deducted from their account without their notice.
2.Shoutout with a big no.
This scenario happens when a product holder denies accepting the purchase of the product. The most common case is when a merchant gets a big no from the customer’s side for the purchase of the product and is asked to refund the amount.
At times the purchase is made without the notice of the cardholder.
3. Theives and Threats Happening Online.
Shoplifting is the major thing that a customer does during the time of sale. It is a crime nonetheless, and online shoplifters can face serious legal problems, such as charges of mail fraud.
A consumer purchases goods online using his credit card, then he receives the goods then submits a statement to the credit card company claiming that he never received the goods.
As a result, the credit card company initiates a chargeback and forces the merchant to refund the customer’s purchase.
These are the conditions where a merchant faces a bad experience in his daily working of the business.
Merchant Stronghold
A hub where a merchant gets a solution over every problem. We would like to hear from you, call us at +1 (888) 622 - 6875 or mail us at info@merchantstronghold.com.
Credit Card Processing?
The moment a card is swiped against the purchase of any product or services, which transacts with the help of payment gateway is known as credit card processing.
High-Risk Business and Friendly Frauds
A business that deals with a higher rate of failing transactions. Credit cards and their processing becomes difficult depending on the nature of business. Apart from keeping e-commerce business balanced and stabled frauds are the one which always ranks on the list.
Finding frauds and then detecting it whether its true or fake is the toughest task.
There are some scenarios where a merchant needs to look after what all he/she goes through.
1. Customers win by 1-0
Here, the customers win the case by 1 point and the merchant losses it by scoring 0. True, this usually happens when the customer goes for the subscription of the goods or the services for a year or a couple of months and unknowingly after a certain point of time the amount gets deducted from their account without their notice.
2.Shoutout with a big no.
This scenario happens when a product holder denies accepting the purchase of the product. The most common case is when a merchant gets a big no from the customer’s side for the purchase of the product and is asked to refund the amount.
At times the purchase is made without the notice of the cardholder.
3. Theives and Threats Happening Online.
Shoplifting is the major thing that a customer does during the time of sale. It is a crime nonetheless, and online shoplifters can face serious legal problems, such as charges of mail fraud.
A consumer purchases goods online using his credit card, then he receives the goods then submits a statement to the credit card company claiming that he never received the goods.
As a result, the credit card company initiates a chargeback and forces the merchant to refund the customer’s purchase.
These are the conditions where a merchant faces a bad experience in his daily working of the business.
Merchant Stronghold
A hub where a merchant gets a solution over every problem. We would like to hear from you, call us at +1 (888) 622 - 6875 or mail us at info@merchantstronghold.com.
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