The days when businesses could survive being cash-only establishments are long gone. Now, customers have replaced the bundles of cash in their wallets with several credit cards. According to a 2020 study conducted by Federal Reserve, almost 27% of U.S consumers prefer to use their credit cards for making online or offline purchases. Therefore, if…
DetailsImplementing an authorization hold on credit card transactions is regarded as a simple and safe way to minimize the overall costs while preventing unnecessary complications -like re-authorizing a transaction or providing funds. Authorization holds on credit card transactions also help in protecting you from potential fraud while preventing chargebacks at the same time. The utilization…
DetailsWhen you are accepting credit card payments, chargebacks are unavoidable. They are also significantly time-consuming to dispute. At the same time, they are quite expensive to be ignored. In some cases, they might cost as much as $20 to $100 in total fees for every transaction. When you receive multiple chargeback complaints, your business will…
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