Get a Signature

When a credit card golder puts in a claim for a charge back on there credit card disputing a transaction the Michigan credit card processing company contacts the retailer to get a copy of the receipt and signature of the customer filing the dispute. If you don’t have a signature there is a 50-50 chance you can and will lose the sale. It is hard to get a signature from a customer when they are not standing in front of you but not impossible. On large transactions I would recommend that you email the customer a copy of the sales receipt and request a signature before shipping. Also make sure that the shipping address is the same as the billing information that is linked to the credit card. Michigan credit card processing companies believe that it is very important that the shipping address and billing address be the same during a transaction. If you follow these simple steps you have a good chance to win the dispute and save yourself a lot of money. Michigan credit card processing companies are here to work with you and help you complete credible transactions.

Stolen Credit Cards

Credit card fraud begins with stolen credit cards.  There has been a 20% increase in the past year of reported credit card thefts as well as fraudulent transactions associated with credit card theft.   f you have had your credit card stolen is must be reported immediately or the credit card companies can hold you liable if it is never reported.  Some people think they lost there credit card and never report them missing.  60 days passes by and they see transactions on there statements.  Credit card companies are holding there customers responsible for some of these transactions if the card was not reported stolen within a 30 day time period.  One way for retailers to help with the stolen credit cards is to ask for a photo ID or signature ID with the transaction.

Fake or Counterfeit Credit Cards

Another type of fraud Michigan credit card processing companies have been dealing with has been the use of fake or counterfeit credit cards.  You can buy a machine that can make a credit card for under $2,000.  This machine has cards that can be purchased that have a magnetic strip on the back as does a normal credit card with the information of someone else’s account number.  The credit card even has the criminals name and signature on the back except the information on the card takes the transaction off of someone else’s account.  Michigan credit card processing companies have dealt with this type of credit card by involving the FBI which in turn have arrested more than 30 credit card crime ring in Michigan alone.

Another way Michigan credit card processing companies are saving there customers money is by lowering the fees on the check cashing options. Many retailers can accept personal checks on there credit card processing machines for check verification. The normal transaction fees for check approvals was .35 per transaction with a minimum monthly fee of $25.00 per moth. Credit card processing companies in Michigan have dropped these fees dramatically to only $10.00 per month as well as .25 per transaction. This might not sound like a lot but is a huge reduction in revenue when you consider how many retail establishment’s they are dealing with. The odds are when the economy picks up the prices will adjust accordingly. The good thing is Michigan credit card processing companies are a where of the economic situation and are trying to help there retailers by offering more affordable programs. Retailers must accept credit cards and debit cards if they want to see sales rise or keep stability in this economy. With the economy the way it is retailers know people will be more inclined to charge purchases due to the fact that they will sort on cash. These fee reductions by Michigan credit card processing companies will help retailers take credit cards and debit cards.

With the credit card companies being so aggressive the students really don’t stand a chance.  Some credit card companies might argue that these are intelligent Michigan college students that are smart enough to make there own decisions but the truth is very different.  It is like going to an emergency room with your life on the line and here comes the credit card companies saying here is a card to pay for the transaction because we know you don’t have the money to pay for the surgery.  We don’t want to you to lose your life.  The example sounds extreme but the truth is credit card companies are investing money to lure you in with free gifts and free tickets to games to try to get you locked it.  I have heard some people blame the Michigan Credit Card Processing companies but the truth is they have absolutely nothing to do with it.

Credit Card Transaction Process

The transaction process begins with a sale or service executed.  Once the buyer gives you a credit card or debit card you swipe it through your processing machine.  The machine reads the information off of the metallic coded strip on the back of the card.  The strip contains the credit card number of the card member, the expiration date.  Once the card is wiped through and the amount of the sale is put into the machine the machine dials your Michigan credit card processing company to see if there is available credit to make the purchase which coincides with the card holders personal number.  If there is available credit available in the sum of the amount of the purchase you will receive an approval code.  This code will also appear on the receipt that you give to your customer and a copy that you will keep for yourself.  If the amount is higher than the available balance on the customers card the processing machine will come back with the notice of declined.  This means one of a few things.  The available credit has been used up,  the card has been reported stolen, the transaction terminal could be busy.  I would recommend to try the process one more time.  Normally if a card has been stolen the processing machine will tel you to pick up the card. Credit cards and debit cards are a vital part of business so make sure you have a good Michigan credit card processing solution.