5 tips for effectively managing credit card transactions
It is almost unthinkable that a company operating in today's cashless society does not offer its customers the ability to pay by credit card. Every business needs an electronic payment solution, which means that every business must make an agreement with one or more credit card processors to make credit card sales. Typically, a merchant agrees to accept credit from their customers (cardholders) who, under certain conditions, duly present a credit card at the point of sale, payment to the merchant by the credit card processor being the credit card processor's receipt of payment from the cardholder. In general, all payments made by the credit card issuer are conditional and subject to chargebacks, fees and fines. In some cases, the credit card processor may, in its sole discretion, suspend disbursement of funds when a default event has occurred (either because of the processor's agreement with the merchant or cardholder) or if the credit card processor has reason to bel...