You are financially responsible for fraudulent purchases by your customers and, or customers non-payment of purchased services, accepting numerous payment options provides a convenience to your customers, increases your customers ability to spend at your establishment, and helps speed payment to your account. In brief, never give credits on items if you are unsure if the sale was made from your merchant account or if it has been paid to you.
As a supplier of goods and services you can be at risk in the event of a fraudulent transaction, transactions are intelligently routed to lower cost of acceptance, while your ERP supplies additional information needed for interchange optimization. To begin with, to be successful in business, you need to be constantly updating your skills and knowledge about business practices.
Want to check how your Card Not Present Processes are performing? You don’t know what you don’t know. Find out with our Card Not Present Self Assessment Toolkit: