Quote:
Originally posted by Chris Mallick
Thanks Mitch.
I am curious: Do you think that your client?s will be able to stay under 1% chargebacks combined with credits? What about the 15 chargeback trigger?
I am not baiting you here, but I just don?t see how MC or anyone can claim that as a reasonable and achievable goal. Obviously our lawsuit tells our story better than I could here, but I agree with model that it is a set up, pure and simple.
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Hi Chris,
2 of our merchants have had problems with the Mastercard threshold on the past 6 months. It is tough no doubt, and you and I know that Mastercards chargebacks are higher than Visa (for some odd reason :-)). It is not a reasonable acheivable goal in its current state. Visa's is borderline but that is a bigger team to tackle. The rules are insane. I spend 50% of my day dealing with merchant banks, as I'm sure you do as well.
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Tony404,
Not sure about Paycom, but mastercard accounts for between 30 & 40% of our overall sales for mainstream and adult combined. Dropping Mastercard does not mean a 40% drop in business. It means that the surfers will then pay by check or Visa/Discover. However, the big hit would be losing all of the Mastercard rebillings. For anyone wanting to drop Mastercard, phase rebillings while you do not accept Mastercard for new sales.
Mitch
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Mitch Farber
CEO - NETbilling, Inc.
Email / Phone: 888-357-8166 / 661-252-2456
Transaction processing & 24/7 call center services with exceptional rates and flexibility, since 1998!