What hardware should I
use? What software should I use?
The hardware and
software you select depends on many things - industry, volume and type of
transactions, type of data and reporting required, and your future plans and
requirements. We can help you select a cost-effective system using the best
hardware and software for your particular needs.
What is Your Discount
Rate?
The discount rate is
the percentage charged a merchant for credit card transactions Per Item and/or
authorization fee are also charged. these fees can be separated or sometimes
included (bundled) into the discount rate.
What is Interchange?
Visa and MasterCard
charge a processing or "interchange" fee on every sale. Interchange is paid to
the cardholder's issuing institution. The type of card presented, the type of
business that is accepting the card, and the card-processing environment
determine this fee. Interchange provides revenue to the issuing bank, not the
merchant processor. All processors must pay the same interchange rates.
Interchange is usually applied as a percentage of the transaction amount and a
per-item fee.
What is Dues &
Assessment?
For all bankcard
transactions, Dues & Assessment are paid to the Visa and MasterCard associations
for bankcard transactions. This provides no revenue to acquirers/banks and all
acquirers/banks pay the same Dues & Assessments.
How can I get the
lowest interchange rate?
For the average
merchant, interchange is based on Industry. To achieve the lowest interchange
rate, the card must first be present with a valid magnetic stripe which is read
by the terminal. Secondly, every sale should always be deposited and settled
daily. If the card is not present or the terminal cannot read the magnetic
stripe, then the next lowest interchange level requires the cardholders billing
address to be entered via the AVS (Address Verification System) feature. For the
non-traditional retailer, contact Tinadré for further solutions and software to
help reduce your interchange expense.
What is an
Authorization, and how does it work?
Authorizing a
transaction protects you against fraudulent card use and confirms the
cardholder's account is valid and within the available spending limit.
Authorizations are obtained electronically through a point-of-sale device or
through a voice authorization over the telephone.
What is a Retrieval
Request?
A Retrieval Request is
the cardholder’s issuing bank request for a copy of an original sales draft.
This issuer uses this request to resolve a disputed transaction or fulfill a
cardholder inquiry. A Retrieval Request is a non-monetary request for
information and the merchant’s checking account is not debited.
What is a Chargeback?
A chargeback is a
dispute originated by a cardholder or the cardholder's issuing bank. A
chargeback is a monetary request for the amount of the dispute and is
subsequently debited from the merchant's deposit account. The acquirer provides
merchants with operating procedures to assist in properly accepting credit
cards, helping protect them against Chargebacks. Cardholder disputes occur for a
number of reasons, including these common examples:
- Amount of the charge
- Cardholder did not
participate in the transaction or sale
- Performance and/or
quality of the merchandise or services
- Delivery of the
merchandise and/or services
- Breach of any term,
condition, representation, or warranty of the transaction
- Duplicate Charge
- Non-Receipt of
merchandise
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