Merchant Card Acceptance - 10 Important Lessons

 Protect yourself from customer-initiated chargebacks and fraud!

  1. Always obtain a manual imprint of a credit card whenever you cannot swipe the card through the terminal. A customer can dispute the charge and essentially win the chargeback case if you cannot provide proof that you had the card in your hand and were able to compare signatures!
  2. Utilize security functions such as last four digits and CVV2 code to discourage use of counterfeit cards.
  3. How well do you know your customers? Be very cautious of international phone or internet orders. There is a tremendous amount of fraud with international transactions and it is virtually impossible to win the chargeback case.
  4. Do not run your personal card through the terminal in order to receive a cash advance! The terminal is to be used for your customers to purchase goods or services from your business. If you need a cash advance from your credit card, go to your local bank.
  5. Do not charge a customer's credit card before you have shipped the merchandise!
  6. Do not split a transaction! If a sale on a card for $1,000 is declined, it means the cardholder does not have the available credit. Do NOT charge the card $250 four times to get the sale to go through. The cardholder's bank will most likely charge this back to you and you will lose!
  7. Do not factor transactions! This means that you do not run transactions for another business through your credit card terminal. This will not only cause chargebacks (customers won't recognize your business name on their statement) but MC/Visa will promptly relinquish your right to accept credit cards if you are caught doing this.
  8. If you are going to run an unusually large transaction or if for some reason you need to manually key numerous transactions when you usually swipe your credit cards, call Vantage and let someone know what you are doing. Otherwise, your account may be flagged for unusual and suspicious activity, which may cause your funds to be held.
  9. Do not place credit card supply orders (paper rolls, ink ribbon, etc.) with people calling you to ask if you need supplies or calling to verify your order for supplies. Vantage will NOT call you to ask if you need supplies - you must call Vantage. We will NOT follow up with a verification call. There are a lot of companies who scam merchants by sending them supplies and then charge them hundreds of dollars for supplies that are probably free or at a minimum cost.
  10. Read the Card Acceptance Guide.