Entries by Greg Slote

What is the difference between a void and a refund?


A void must be performed prior to the authorization of a transaction. After a transaction is authorized, the transaction cannot be voided by the merchant. A refund must be applied to the customer’s account.

Be wary of suspicious International Sales


Address verification cannot be performed and it is difficult for your merchant processor to verify the sale in question. Ask yourself does the sale make sense? Why does this individual have to buy the product from you and not someone closer geographically?

Verify address and CVV code


Sounds simple, but this is something that is often ignored. A CVV Code or CARD VERIFICATION VALUE code is a three or four digit code located on the credit card itself and is a security feature to help verify that the card is on hand for “card not present” transactions. Verifying the address and CVV […]

What is MOPO processing?


MOPO (mail order/phone order) processing is also known as “card not present”. MOPO transactions allow customers to make purchases by providing their credit card information without providing a signature over the telephone, Internet, or via mail.

Stay abreast of fraud trends/scenarios


More and more, we see merchants being approached for”humanitarian” causes with large purchases needed for orphanages, churches, etc. These are uncommon for the business and are usually sent via e-mail. Merchants are provided with multiple credit cards and are asked to split the sales to get them through. These sales are often invalid. Take the […]

How can upgrading my business phones or internet service disrupt my credit card processing?


Most of the countertop POS terminals (POS = credit card processing machines) being used at small businesses operate on a conventional analog phone line. These POS terminals often use a dial-up modem, very similar to the ones used in fax machines. If the analog, ‘dial-up’ phone line is eliminated, your POS terminal loses its ability […]

What types of processing solutions does NDCN offer?


NDCN offers a wide range of processing solutions for merchants so you can choose which is right for you. From retail stores to ecommerce and mail order to mobile transactions, Federated has the right solution for your business.

How Do Gift Cards Work?


Let’s say you buy a packet of 100 gift cards that are customized with your logo and brand. If your average gift card sale is $50, then that’s $5000 in revenue you can generate. If you run at an average of 50% profit margin that is $2500 of pure profit in your pocket. In many […]

Invest in a Loyalty Program


Loyalty programs can help retain existing customers because of how they provide incentives for customers to come back, but they also help bring in new customers. If your loyalty rewards program is enticing enough, new customers who stop by your store will more than likely return.

How much do I have to pay to accept credit cards?


Like anything, rates vary depending on processor you are dealing with and the type of business you operated (i.e. storefront, ecommerce, mail order, etc.) It is important to find a merchant service provider who not only offers guaranteed low rates, but will provide your business with PCI compliant equipment and knowledgeable 24x7x365 customer service and […]