Every website must meet certain requirements in order to accept payments through it. This is not just a matter of rules set by financial organizations (such as acquiring banks or card organizations - Visa, MasterCard, etc.). Many of these requirements are simple points that make e-businesses more profitable and easier to run.
The online payments topic is treated dismissively even though it is very important. Merchant services are not exclusively responsible for quality mediation and safe money transactions, this is precisely why when choosing a provider the type, size and future perspectives of a business should be taken into consideration. Therefore, it's worth our time to get to know the characteristics of different types of payment providers so that our decision would be made fully aware of the facts and figures aiding our business.
If you're offering services based on cyclical payments, then recurring payments (also known subscription payments) will help you work and not worry about forgetting sending your customers a payment notice. Recurring payments come in handy if your business requires subscription fees for the content of a news site or there is a membership fee. Subscription payments are also useful in completing simple payments like power and water bill.
If you accept card payments, you will probably encounter chargeback requests. Below you will find basic information on chargebacks: what they are, how to deal with them, and how to prevent them.
When you run an online shop, you need to provide your customers with terms and conditions of service. This document lists the rules your website abides to and is used for legal purposes.
It was on 1 August 2014 that the transition period ended and the new SEPA standard for direct debits came into effect.
We have outlined what to include in the terms of service. Now I will try to sum up things that should never appear there. Why? Because it will cost you money. Lots of money. Mucho dinero.