Menexis is among the best credit card processors in the merchant services industry. Our relationship with banks and processors enables us to provide the best experience for our merchants. There are several ways of accepting payments but the most popular way is the retail setting and over the internet via a payment gateway in real-time. Charging your customers’ credit card or debit card is done via a network of banks, financial institution and the bankcard network. These ordering systems are highly secured and offer a great way for you to send data utilizing online order forms and shopping cart software securely and the entire process is automated which means that you don’t have to spend any additional resources.
Authorize.Net is perhaps the best payment gateway on the planet. We use this platform as well as Chase Paymentech Orbital Gateway. These two gateways are the most robust and stable in the industry. To protect businesses from being victims of fraud, all of the payment systems we offer have what’s call Address Verification System (AVS) which is basically a good way to check the credit cards again the address of the customers billing when a transaction is processed. Online ecommerce sites benefit the most from this as they are shipping the product to the same address and this greatly cuts down on fraudulent transactions. To utilize this added feature cost an extra $0.02 to $0.08 per transaction. This is recommended to all ecommerce website to utilize this security feature.
It is always recommended that merchants adopt best practices with their merchant account and take advantage of all of the security features that is available to them as this will help business owners grow their business the right way. With a merchant account comes responsibility to protect the cardholder and consumers from fraud and that is why merchants need to read and understand the user guideline put forth by processors to be in compliance with the Card Acceptance user guideline and agreement. By understanding this guideline and taking the steps to mitigate fraud will help your business in the long haul. A simple thing such as reporting a change of your business address and contact information goes a long way. For companies that manually process payments it is good practice to always have something signed by the merchants. You can keep that info for filing incase there is a dispute. You should always ask the customers for their zip code and billing address as part of your authorization process. Additionally, you should always print sales receipts and give a copy to the customers if you are in the retail setting. If online or over the phone, always email or fax them a copy. |
