Complaints

Reducing stress as an entrepreneur isn’t always easy, but it’s essential to do so in order to remain focused. Whether your goal is to launch your startup in the coming year or to grow a business you’ve already invested time and money into, finding ways to keep stress and anxiety at bay will help you…

Many businesses that have an online merchant account from Square have become aware of a recent development involving “holding” funds from their merchants–sometimes for as long as 120 days. What is Square’s “Rolling Reserve?” According to widely published news reports, the payment processor Square has been withholding funds from some of the merchants that use…

If you run a business with an internet merchant account that manages the payments made on your online store, you may be familiar with chargebacks already. This is when a customer contacts the credit card company to dispute a charge. This can be for a legitimate reason, but the dispute can also be the subject…

Practically every business in the modern economy can benefit from accepting credit card payments. Credit cards are among the most popular consumer payment methods and adopting credit processing technologies can greatly boost sales and revenue. That being said, many small businesses face challenges to adopting credit card processing. Here are some of the more common…

According to statistics, credit card fraud and identity theft aren’t as common as we fear. Of all the fraud-driven cases of chargeback, only about 30% are true fraud cases. The other 70% or so are so-called “friendly fraud” cases, where a customer accidentally disputes a legitimate charge because of the customer’s error or genuine misunderstanding.…

Chargeback fees may only be a few cents, or maybe a few dollars, but they pile up pretty fast, and their long term consequences are disastrous. It stays in your permanent bank records, even if the matter is resolved in your favor. If you accrue too many chargebacks, this could trigger an audit or even…

When a customer makes a purchase from you, they can pay using a credit card or debit card. If it’s a one-off purchase, the cash transfer takes place immediately, and the money arrives in your bank account within a day or three. If it’s a repeated expense (like a subscription), it might not be posted…

Sometimes, a customer decides they want their money back. It might be because the product they purchased was faulty, or they might be experiencing buyers’ remorse. Maybe they ordered a delivery and it hasn’t arrived yet, or they can’t remember making the purchase. They might have reviewed their card statement and seen items or names…

Chargebacks can cost your business a lot, both in terms of money and reputation. Aside from the loss of revenue, you risk fines, penalties, blacklisting, or even a frozen account. Visa recognised this and made necessary changes. Their 2018 chargeback update goes a long way in protecting businesses from erroneously filed chargebacks. Visa reduced the…