Merchant Account
Merchant Account - ACH Reject
ACH payments are a type of electronic bank-to-bank payment for businesses based in the U.S. An ACH return simply means that – for whatever reason – the ACH couldn’t collect the funds from the customer’s account. This results in an ACH return reason code, a three-character code that provides a little more detail about the specific nature of the problem. ACH REJECT Diagram How To Know If TheFew readersMerchant Account - TMF / MATCH List
MATCH stands for "Member Alert to Control High-risk Merchants (MATCH) List", it is a list maintain by credit card companies ( Master Card, Visa, American Express, etc. ) to label high-risk merchants. TMF stands for "Terminated Merchant File", a file for terminated merchant, and a data base that records merchants who has been included in the high-risk list. The personal information of the merchant will be added to the MATCH list and recorded in the TMF database when, during the payment card tFew readersMerchant Account - MID
MID (Merchant ID) is the "Merchant Identifier" that is issued by payment card processors when a merchant opened a processing merchant account.0 What It's For Used by credit card processors to locate the merchant and effectively assist the merchant. MID is also used to monitor bank account transactions between a business and the merchant and to make sure that payment information is stored in a database. When To Use It When the merchant contacts customer support, providingFew readersMerchant Account - PCI DSS
PCI DSS PCI DSS stands for Payment Card Industry (PCI) Data Security Standard, an information security standard for Credit Card payment established by the PCI Security Standards Council. PCI DSS strengthens global payment security and helps protect the merchant and the customer from scams and data breaches. The merchant must complete the SAQ (Self-Assessment Questionnaires) within 90 days of the account being approved to avoid non-compliant fines. What Do The Merchant Needs To DoFew readers
Processing and Funding
Processing and Funding - Potential Risk of Hand-key Sale
What is Hand-Key Sale Hand-key sale is a mode of transaction when the sale is made with hand-typing the full credit card number and expiration date. Common Seen Hand-Key Sale Take-out only restaurant Phone order/ Pre-pay order by phone Online order/ Order on website The merchant re-key tips Risks of Hand-key Sale Hand-key sale is the least secure way to run a payment, if chargeback occurs, it is very likely the merchant could successfully challengeFew readersProcessing and Funding - Funding
What is Funding Funding is the total payment the merchant received in the bank account after the terminal/POS is batched. Expected Funding Date After the merchant batch out, the settlement process time varies depend on the business types and batch time, for most cases: Times below shows in EST Time Restaurant： Batches submitted before 10:00 PM, the funding will be settled on next day; batches submitted after 10:00 PM, the funding will be settled two days from the submissioFew readersProcessing and Funding - Debit Card Tips Surcharge
What is Debit Card Tips Surcharge When the customer use debit card to make a purchase, the amount of the pending transaction might be different than the actual sales amount. This is because a debit card does not allow cardholder to borrow money from the card issuer up to a certain limit to purchase items, so the credit card company will protect the merchant's right by pre-authorized 20% on top of the sales amount to make sure merchant is able to collect tips when they settle the final sale.Few readersProcessing and Funding - Transaction Refund
What Is Transaction Refund Transaction refund is the process of returning funds to the customer who has already paid for the product or service. Difference Between Transaction Refund And Voided Transaction Transaction refund happens after the sale has settled, voided transaction happens before the sales batch. Processing and Funding - Voided TransactionFew readersProcessing and Funding - Voided Transaction
What Is Voided Transaction Voided transaction is the processing of cancelling transaction after a customer has successfully paid for the product or service. Void function is only those sales that are not yet batched Difference Between Transaction Refund And Voided Transaction Transaction refund happens after a transaction has batched, voided transaction happens before batches. Processing and Funding - Transaction Refund (https://app.crisp.chat/website/429b5d7b-daf1-46b8-b33b-dFew readersProcessing and Funding - Duplicated Sale Letter
Duplicated Sale Letter The letter sent to the merchant concerning a transaction that is on hold is known as a duplicate sale letter. This occurs when a customer makes two purchases with the same amount on different dates on the same credit card. The second transaction is automatically set to hold by the system since it recognizes it as an operation fault. The letter will shows two transaction date, sales amount, and the last 4 digits of the credit card number. Duplicated Sale LetterFew readers
Chargeback
Chargeback - What is Chargeback
What is Chargeback? A chargeback is a credit or debit card charge that is forcibly reversed by an issuing bank. A chargeback can be considered a refund since it returns the funds taken from an account through a prior purchase. Chargebacks are a part of the credit card processing system that can't be completely eliminated. How does Chargeback Works? When a customer is not satisfy with the purchase, and initiates a dispute by contacting the bank and asking for a refund (most chargebaFew readersChargeback - What is Pre-Arbitration
What is Pre-Arbitration? A pre-arbitration is a second chargeback filed by the cardholder of the first chargeback after a chargeback has been reversed. Pre-arbitration gives the acquirer and issuer another chance to resolve the customer dispute. How does Pre-Arbitration Works? Before any chargeback enter pre-arbitration chargeback, the cardholder and the merchant will go through the following phases: The cardholder made a transaction. The cardholder file a chargeback reqFew readers
Statement
Statement - 1099K
Form 1099-K is an IRS form used to report credit/debit card transactions and third party network payments. Information Included In The 1099K List below is required information the merchant needs for tax report: Payee's information Business legal name Tax ID Total transaction count Merchant ID number (MID) January to December's total amount of payment card/third part network transactions (tips included) 1099K (https://storage.crisp.chat/users/helpdesk/website/753Few readersStatement - Pin Debit Annual Fee
PIN Debit Annual Fees The PIN networks require payment of an annual PIN debit fee. When the merchant decides to accept PIN debit sales, certain costs will be assessed. Why Are Pin Debit Annual Fees Required PIN Debit transactions are processed under separate networks than what Visa/Mastercard/AMEX use. These PIN networks are managed and charged separately for their usage to Card Service Providers. What Are The Annual Pin Debit Fees The annual charge varies each PIN debiFew readersStatement - Merchant Monthly Statement
Merchant Monthly Statement Merchant monthly statements are sent by the payment card processor by paper or digital. The statement includes monthly detailed transactions, total deposit, and processing fee of the merchant's process account. Monthly Statement Receive Date Payment card processor will issue paper statements to merchants at their DBA addresses on the first of each month. It usually takes 3-5 business days for the statement to arrive. Please Note: Merchant can only seFew readers
CardPointe
CardPointe - Using the Virtual Terminal on App
CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Mobile App can only preform particle actions. For full assess to your CardPointe account, please use the website page. Note: The method provided in the article is only recommend when terminal or computer is not function correctly. Hand swipe card will increase the riFew readersCardPointe - Refund Online Sales
Introduction CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Note: This article is only for online sales refund. In-store transactions refund required the full credit card number and has to be done on the terminal or the pos system. Log In To CardPointe CardPointe Website (https://cardpointe.coFew readersCardPointe - Using the Virtual Terminal on Web
Introduction CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Note: The method provided in the article is only recommend when terminal or computer is not function correctly, forget to add tips after batch, or refund purposes. Making sales on the virtual terminal is consider hand swipe card, if chargeback occursFew readersCardPointe - Website User Guide
Introduction CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Table of Contents: Overview Transaction Details Gateway Batches Funding Chargebacks Statements Log In To CardPointe CardPointe Website(https://cardpointe.com) Log in with the account and pFew readersCardPointe - Void Online Sales via APP
Introduction CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Mobile App can only preform particle actions. For full assess to your CardPointe account, please use the website page. Please refer to the article for downloading and logging into CardPointe： CardPointe - Using the Virtual Terminal on App (https://hSome readersCardPointe - Enable Tip Feature via App
Introduction CardPointe is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using CardPointe, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Mobile App can only preform particle actions. For full assess to your CardPointe account, please use the website page. Please refer to the article for downloading and logging into CardPointe： CardPointe - Using the Virtual Terminal on App (https://hFew readers
MXMerchant
MxMerchant - Using the Virtual Terminal on App
Introduction MxMerchant is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using MxMerchant, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Note: The method provided in the article is only recommend when terminal or computer is not function correctly, forget to add tips after batch, or refund purposes. Making sales on the virtual terminal is consider hand swipe card, if chargeback occursFew readersMxMerchant - Website User Guide
Introduction MxMerchant is a comprehensive and secure cloud-based platform that makes accepting and managing payments simple. Using MxMerchant, you can: Authorize, capture, void, and refund transactions from your desktop or mobile device. Log In To The MxMerchant MxMerchant Login link Log in with the account and password provided by us. If you are having problem logging in, please contact your agent or merchant service. Dashboard (httpFew readers