Entries tagged with “Merchant Account”.

Sometimes it is the small things that make a difference.  I had a conversation with a friend last week about the pros and cons of using a payment aggregator for processing, as opposed to a traditional merchant account.  While we had a pretty lengthy discussion ranging over a variety of topics, there was one detail that stuck in my colleague’s mind.  I had asked how her merchant name shows up on receipts.  She hadn’t thought about that before and said she was going to go back and check it out.  Sure enough, she said, the merchant name showed up as something that even she would have found difficult to recognize as her business.  Why does that matter?  One word – chargebacks.

Often when customers don’t recognize the name on their statement, they will call their issuing bank and chargeback the purchase. If your merchant name is not immediately recognizable to customers on their statements, you run the risk of getting hit with unnecessary chargebacks.  Not only does this result in one-time charges and fees to the merchant, but repeated chargebacks can result in increased fees and may even cause processors, whether traditional processors or aggregators, to suspend the merchant’s ability to process payments.

This is a fairly easy thing to check, and to fix.  If you are unable to change your merchant name, and there are some legitimate reasons why that might be the case, then make sure your customers know what to look for on their statements.  This can be done either as a message on the receipt or on your website.  If you have a storefront, you may place a sign next to the register.  Anything that might reduce the likelihood of confusion on your customers’ part can help you reduce the likelihood of chargebacks.

Part of running a successful business is creating a great customer service experience for your customers. This includes a seamless customer interaction and offering great customer service. Sometimes, this means giving your customer a partial or full refund.  Fortunately, refunding a transaction is a simple process that only takes a minute to complete.

Here are the quick steps to refunding a transaction:

  1. Log into your ProPay Account
  2. Locate the transaction needing to be refunded by using the Completed Transaction report, Pending Transaction report, or Advanced Transaction Search
  3. Click the Transaction number
  4. Enter the amount to be refunded in the refund box
  5. Click Refund Transaction to submit the refund.

That’s it! You will receive a Refund Successful message if the refund was completed with no problems. Likewise, if the refund was unsuccessful you will receive a message stating what went wrong. To further enhance your customer’s experience, let them know the refund will take approximately 5-7 business days to complete.  This will help ensure your customers have a great experience and help you avoid a possible chargeback in the future.

ProPay is excited to announce that we’ve broadened our offerings to eBay sellers. Previously available only to PowerSellers, ProPay eAuction accounts provide sellers with ease of use and competitive rates. With a number of account options available, ProPay can offer payment processing solutions that meet the unique needs of the eBay seller.

If you’re an active eBay seller with good buyer feedback, come and see what ProPay can do for you. Sign up for a ProPay eAuction account today.

ProPay Benefits Buyers AND Sellers

ProPay has developed a payment processing account specifically for eBay sellers. The account can benefit buyers and sellers in the auction process.

Seller benefits include

  • Competitive rates
  • Integration with your eBay account
  • Top-notch customer support (see our Facebook page for proof)
  • Secure payment processing that protects you and your customers

Buyer benefits include

  • No login or ProPay account required to make a payment
  • Simple check-out process
  • Secure payment processing protects their payment data
  • All major credit cards accepted

ProPay has been offering small businesses a safe, secure, and affordable way to accept payments since 1997. Our company is dedicated to enabling entrepreneurs to build and grow their unique businesses. Come see how we can help you grow your eBay business by offering your customers a safe, simple way to pay.

To learn more about how ProPay can help, visit our website: www.propay.com

Many small businesses recognize the importance of having a merchant account.  Having such an account allows the business to accept payment cards in lieu of cash or checks.  Studies have shown that accepting payment cards can increase conversion and increase the average ticket size – both great thing for small businesses.  But how many businesses know what really happens when you swipe that card or key in that number?  The process is actually much more complex than one might think.  Following is a quick and dirty description of how a payment is actually processed.

1) The consumer presents the card as a method of payment for goods or services.

2) The merchant sends the transaction to the acquiring bank.  The acquiring bank is the bank that provides the merchant account.

3) The Acquirer sends the transaction to the card brand networks and eventually to the issuing bank.  The issuing bank is the bank that provides the card to the consumer.

4) The issuer sends a message of approval if the cardholder has enough balance on their cards to cover the cost of the transaction or a denial if the balance is not sufficient.

5) The issuer sends the payment to the merchant.

Now, as I stated earlier, this is the very simplified version of the process. Different sources list anywhere from 7-11 different steps in the process.  In addition, the process laid out above doesn’t include  3rd party service providers, back office providers, and others that may assist in the transaction process.  It can quickly get very complex.  Hopefully, this summary has answered some questions about how transactions are processed.  Though some magic surely happens, it a pretty linear process involving a number of different organizations and networks.  If you have any questions about how the process works, or any of the steps in the process, please let us know.  We’ll be happy to answer whatever we can.

Dr. Heather Mark, PhD; SVP Market Strategy

“Thank you so much for all your assistance on the phone yesterday, getting my account straightened out - you were wonderful!   Very knowledgeable, helpful, and….patient!   Please let your supervisor know how pleased I was with your customer service skills, it’s getting to be a lost art in today’s business world.” ProPay Customer–Meg Racheli

ProPay is committed to leading the merchant industry in convenient and secure mobile payment solutions and offering quality customer service to answer and meet any questions or concerns anyone might have about those merchant services.  Open Monday-Friday, ProPay’s Customer Service Team is available to personally assist you.  Through Email, Facebook, Twitter and Phone, any representative is available to help you meet your merchant needs.  Each team member specializes in navigating through ProPay’s affordable services.  Whether you need help processing a card, transferring funds, using your ProPay JAK, or resolving a situation with a customer, ProPay’s Customer Service Representatives are ready to answer your concerns.  That service and willingness to connect with the customer while finding the right answer, is what makes ProPay “the leading provider of simple, secure and affordable payment solutions”.