davidjohn6366
Matrosen-Stabsgefreiter
Joined: 30 July 2022
Location: United States
Online Status: Offline
Posts: 136
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| Posted: 22 November 2022 at 18:42 | IP Logged
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In a case where the credit card processor is charging for
refunds without returning the original processing fee, this
merchant would be overcharged $25.00 each month. If the
processor is not charging for refunds but still failing to
return processing fees, the merchant will be overcharged
$12.50 each month. In the worst case scenario, our pretend
merchant could be losing as much as $300 a year.
Paying for refunds is simply unacceptable, and it's a
perfect example of the type of behavior that has given the
credit card processing industry a bad reputation. Not all
credit card processors fail to return processing fees or
charge for refunds, but it's an assumption that you can't
afford to make - literally.
If you're unsure of how your
how
to be a credit
card processor processor handles the refunds on your
merchant account, closely analyze your processing
statements to determine if processing charges are being
credited back to you properly. Call you agent or
representative if you're not sure how to determine the way
in which refunds are being handled by reviewing your
statement.
Edited by davidjohn6366 on 22 November 2022 at 18:44
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U47.org Forum :: The Cadet School
Topic: How to be a Credit Card Processor
