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Let's face it, many businesses cringe when they think of dealing with banks when they are looking to set up merchant credit card accounts. The truth is that in order to be in business in this day and age as a merchant, you must be prepared to accept and process credit cards. Most especially if you do business over the Internet. If you are not prepared to offer a full array of credit card acceptance options, I'm afraid you will soon be out of business. The downside to accepting credit cards is that the merchant is at risk for not only the amount that has been charged, but a charge back fee as well. Business - Directory of business/finance/loan/mortgage related partner sites Computers - Directory of computer hardware/software/peripheral related partner sites Internet - Directory of webhosting/webdesign/internet marketing related partner sites Software - Directory of software related partner sites Web Design - Directory of web design/development related partner sites Web Hosting - Directory of web hosting related partner sites Web Promotion - Directory of search engine optimization/internet marketing related partner sites Web Resources - Directory of other web related partner sites Recreation - Directory of travel/hotel/cruise related partner sites Casino - Directory of online gambling/poker/blackjack/roulette related partner sites Health - Directory of online pharmacy/hospital/health related partner sites Shopping - Directory of online shopping/gift related partner sites Miscellaneous - Directory of all other partner sites
The banks will take the disputed charge along with a chargeback fee directly from the merchants account and if the merchant does not have sufficient funds that have already cleared from paying their own bills, they will be hit with yet another charge which is known as an overdraft charge. It can become a vicious cycle. There are now more than a few banks that recognize that these charge backs are not always the fault of the merchant, and that indeed, most merchants are honest with their credit card dealings. I regret having to say that there is so much credit card fraud out there today, and because the merchant is always liable, you must take active steps to protect yourself and your business. |
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