Merchant-Accounts.ca

Small businesses in Canada can lower their credit card processing costs with almost no work whatsoever. Visa has offers special lower rates to businesses that process less than $300,000 per year.

In this video David explains how it all works, and how to make sure the cost savings are actually passed through to your business.

Source: https://www.merchant-accounts.ca

A BIN number, which stands for Bank Identification Number, is made up of the first 6 digits of a credit card number. These first few digits of the credit card contain information about the card such as which bank issued it, and the country it was issued from.

David explains what you should know about credit card BIN numbers, and also how they can be an effective in spotting fraud.

Source: https://www.merchant-accounts.ca

The third and final in our fighting chargebacks series is how to fight item not received or services not rendered chargebacks.

While winning a chargeback is always an uphill battle, these are some of the easiest to win chargebacks because all you really need to do is prove that the customer received what they paid for. In fairness, with some businesses it’s easier to prove than others.

David provides examples of different types of businesses, and how you can work to prove a customer received what they paid for.

Source: https://www.merchant-accounts.ca

The second in our fighting chargebacks series examines how to fight and win chargebacks with the “Item or service not as described” reason code.

Unlike fraud reason code chargebacks, merchants stand a relatively good chance to win Item or Service Not as Described chargebacks. Whether you win or lose will boil down to exactly what was promised to your customers. This includes promises made in your web copy, and also in the terms and conditions on your checkout page.

David breaks down how to approach these chargebacks, and provides tips on how to future proof your business so that if you get a chargeback with this reason code you have a better chance of winning.

Source: https://www.merchant-accounts.ca

Businesses can benefit from AI tools, but it's important to be prepared for anything to go wrong at any time. David asks Rob Pacinelli of The Best Media how can you can make sure AI won't say the wrong thing when responding to emails.

Watch full interview:
https://www.youtube.com/watch?v=eRkf2Xfte0M

Source: https://www.merchant-accounts.ca

Source: https://www.thebestmedia.com



Note: Matters discussed are all opinions intended for education and entertainment. Nothing in this video is or should be considered legal advice or business advice. All events or likeness to real people and events is a coincidence.

The first in our fighting chargebacks series concentrates on fighting fraud reason code chargebacks.

For e-commerce and card-not-present merchants fraud chargebacks are usually the hardest ones to win. The challenge is that you have to prove the cardholder is who they say they are, and that they actually ordered the item or service in question. It's a very uphill battle if you try to combat fraud it after the dispute has already been received. With this reason code, you really do need to take a preventative approach.

The purpose of this series is to give business owners an idea on the best way to respond to certain types of chargebacks, but for fraud in particular - the battle is mostly won prior to you even shipping the order. Ultimately, if the cardholder didn't actually buy the item or service in question you can't win, so in this discussion David also talks about ways to validate orders.

Source: https://www.merchant-accounts.ca

More about 3DSecure:
https://www.youtube.com/watch?v=QtOOOvYuxx8

More about using video chat to authenticate customers and prevent fraud:
https://www.youtube.com/watch?v=Qlf0cl5Fub8

Some businesses are harder than others when it comes to establishing a credit card processing solution. Surprisingly, construction and contracting businesses can sometimes have a problem with banks and processors holding onto their cash.

In this video David explains why construction companies can sometimes run into a problem when opening a merchant account with a payment processor, and what you can do about it.

Source: https://www.merchant-accounts.ca

For more videos: https://www.youtube.com/

Jeremy Stock and Bryce Van De Moere from Global Legal Law firm discuss how much it can typically cost if you hire a lawyer to fight to get your business off the match list.

Watch the full interview:
https://www.youtube.com/watch?v=s0DJAntJdyg

Source: https://www.merchant-accounts.ca

Source : https://www.globallegallawfirm.com

Note: Matters discussed are all opinions intended for education and entertainment. Nothing in this video is or should be considered legal advice or business advice. All events or likeness to real people and events is a coincidence.

Merchants that are put on the match list lose the ability to process credit cards. Making things worse is the fact that it’s difficult or impossible to get off the list. David speaks to Bryce Van De Moere and Jeremy Stock from Global Legal Law firm to learn what you should do if you find yourself on the match list.

Source: https://www.merchant-accounts.ca

Source : www.globallegallawfirm.com.

Email address to Mastercard about Match list inquires:
[email protected]

Note: Matters discussed are all opinions intended for education and entertainment. Nothing in this video is or should be considered legal advice or business advice. All events or likeness to real people and events is a coincidence.

Merchants have to keep chargeback percentages under the allowable Visa and Mastercard chargeback thresholds. (For more info on chargeback thresholds see: https://www.merchant-accounts.ca/visa-and-mastercard-chargeback-thresholds-2023.php).

The problem is that some types of businesses simply get more chargebacks than others. David explains a strategy that some businesses can employ to lower their chargeback ratios, and prevent you from ending up on a Visa or Mastercard chargeback mitigation program.

Source: https://www.merchant-accounts.ca

Most credit card processors will ask for a copy of the most recent balance sheet and profit and loss statement when you apply to get a merchant account.

David explains why payment processors care about company financials, how it can impact your application, and what you can do if the financials for your company are not as good as you'd like.

Source: https://www.merchant-accounts.ca

Merchants can get declined for a number of reasons like bad credit, a high risk product or service, or the risk of chargebacks to the credit card processor is too high. However, you should always be able to get a clear explanation of why you were declined.

A good strategy is to always find out why you were declined, and specifically: what you should work on improving in the future. If your credit card processor can’t tell you why you were declined this is a sign of a bad credit card processor.