Common use of Good Business Practices That Will Help Reduce Your Processing Costs Clause in Contracts

Good Business Practices That Will Help Reduce Your Processing Costs. Use an imprinted sales ticket with signature for all “key entered” transactions. This will assist you with issues such as chargebacks. Close and settle your sales transactions daily. This will help reduce those instances where “Mid-Qualified” or “Non-Qualified” discount rates are assessed. Balance your Merchant Account, processing statements from Processor, Member Bank, Associations, and Third Party Service Providers, and your sales slips to assure that you are receiving anticipated funds in a timely fashion, as more fully described below. Because of the number of parties involved in the processing of credit card and other electronic transactions, the only way to ensure that you receive all funds is by balancing each day’s sales tickets against daily ACH deposits. Respond within the acceptable time frame to retrievals and/or chargebacks in order to assure the most favorable outcome possible. Do not call the voice authorization center for services other than authorization. Settle disputes with your customers before they reach “chargeback” status. A chargeback is like a returned check, it is expensive and time consuming. Read your Merchant Processing Agreement and these Rules closely and thoroughly. Shipping products overseas without a card present should be closely monitored. Xxxxxxxx has little ability to prevent a chargeback in this type of situation. You should carefully reconcile sales tickets against deposits daily, particularly in the following situations: installation of new equipment, new downloads, adding new products to your terminal, power outages, change in your Merchant Account. account number, indent printed account number and/or encoded account number do not agree, or the Card does not have a MasterCard hologram on the lower right corner of the Card face. This obligation upon you in no way authorizes a breach of the peace or any injury to persons or property, and you will hold Processor or Member Bank harmless from any claim arising from any injury to person or property or other breach of peace.

Good Business Practices That Will Help Reduce Your Processing Costs. Use an imprinted sales ticket with signature for all “key entered” transactions. This will assist you with issues such as chargebacks. Close and settle your sales transactions daily. This will help reduce those instances where “Mid-Qualified” or “Non-Qualified” discount rates are assessed. Balance your Merchant Account, processing statements from Processor, Member Bank, Associations, and Third Party Service Providers, and your sales slips to assure that you are receiving anticipated funds in a timely fashion, as more fully described below. Because of the number of parties involved in the processing of credit card and other electronic transactions, the only way to ensure that you receive all funds is by balancing each day’s sales tickets against daily ACH deposits. Respond within the acceptable time frame to retrievals and/or chargebacks in order to assure the most favorable outcome possible. Do not call the voice authorization center for services other than authorization. Settle disputes with your customers before they reach “chargeback” status. A chargeback is like a returned check, it is expensive and time consuming. Read your Merchant Processing Agreement and these Rules closely and thoroughly. Shipping products overseas without a card present should be closely monitored. Xxxxxxxx Merchant has little ability to prevent a chargeback in this type of situation. You should carefully reconcile sales tickets against deposits daily, particularly in the following situations: installation of new equipment, new downloads, adding new products to your terminal, power outages, change in your Merchant Account. account number, indent printed account number and/or encoded account number do not agree, or the Card does not have a MasterCard hologram on the lower right corner of the Card face. This obligation upon you in no way authorizes a breach of the peace or any injury to persons or property, and you will hold Processor or Member Bank harmless from any claim arising from any injury to person or property or other breach of peace.