Credit Card Presentment Requirements

Presentment Requirements is part one of a ten-part payment processing manual for merchants accepting credit card payments.

At UniBul Merchant Services we have just launched our new website and, to mark the occasion, we developed our first merchant manual for credit card acceptance. We wrote this guide to help our merchants process online payments in a way that will ensure compliance with Visa and MasterCard regulations, which, in turn, translates into lower levels of chargebacks and downgrades and, eventually, into lower processing costs. We divided it in 10 parts for easier digestion and following is the first one, which covers our best practices suggestions for the information online merchants should make available for their customers.

Part 1 Presentment Requirements

If your business sells goods or services online, it is a good idea that you implement certain best practices to ensure that you communicate with your customers the various transaction-related details. Certain content or features should be clearly displayed on your website. These elements are intended to promote ease of use for your customers and reduce potential disputes and chargebacks.

Customer service contact informationCustomer service telephone number as well as email address should be clearly displayed on every page of the website, on shipping materials and on monthly statements. If customers cannot contact you, they will contact their card issuer which may result in a chargeback. Policies

Return, refund, cancellation and delivery policies should be available to online customers through clearly visible links on your home page. You should also provide “click-through” confirmation for important elements of the policy. For example, when purchasing tickets for a sporting event, customers should be able to click on a button – Accept or I Agree – to acknowledge that they understand the tickets are non-returnable unless the event is postponed or cancelled. This will help your processor fight chargebacks and win representments. Any restrictions on delivery should be clearly posted on the website.

Order and refund confirmationsSend email confirmations and summaries within one business day of processing orders and refunds. State time frames for refunds and indicate that a full billing cycle may be needed for the issuer to apply the credit to the cardholder’s account.

Billing descriptor

It identifies you on the customer’s credit card statement. For example:

ABC SERVICES 800-111-2345.

Your customer must be able to easily understand which purchase the billing descriptor refers to. Otherwise he or she might contact their issuer and possibly initiate a chargeback. Also you need to be sure, and confirm regularly, that the phone number is listed correctly, so if the cardholder needs to call you to verify the charge, he or she can do so.

Following next week is part 2 of our guideFeature Articles, which will cover transaction processing guidelines.

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