Accepting Credit and Debit Cards: What You Need to Know
There are certain rights, responsibilities and possible repercussions that come with accepting credit or debit card payments. Here are a few documents that should help you get acquainted with the ins and outs of accepting plastic.
Chargeback - A reversal of a transaction as a result of a customer dispute. Understand the chargeback process and learn how to protect your new business from chargebacks by reading information here.
Regular vs. Premium Credit Card Rates - Cost of acceptance will be a big consideration when accepting credit card payments. Credit cards will charge varying rates and it is not always easy to determine which card will cost you how much. We have collected data and placed it in a printable Canadian credit card rate handout for you.
Online transactions / Over the phone transactions - If you must accept credit card payments without the physical card in front of you, here are some must-know tips to protect yourself against online credit card fraud.
Point-of-Sale - Credit card fraud will occur offline, too. Luckily there are steps you can take to prevent your small business from getting caught up in fraudulent transactions. Read this information to avoid card fraud. Make sure, however, to carefully review and verify your merchant account statement every month.
Merchant Operation Guides - Merchant operating guides are made available by your chosen service provider. Visit their website for a copy of this document to help make yourself more aware of the processes involved in transactions and refunds.
Equipment Troubleshooting card - create a cheat sheet for you and staff, along with emergency phone numbers for your merchant service provider. You may find this information on your service provider’s website. Here is the Chase Paymentech troubleshooting guide, as a sample.
Please feel free to contact us for help, advice or to learn about the partnership we have created with Chase Paymentech to help save you money on credit card processing.