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Payment processor holding all funds!
Tonearm

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4607606 posted 5:44 pm on Sep 5, 2013 (gmt 0)

My revenue doubled recently and this has caused my payment processor to hold all funds I process until they have "reviewed" my account. We only get 1 or 2 chargebacks per month and our average ticket size hasn't increased at about $40. We sell simple home decor items. I'm scrambling to set up with a new processor but I'm wondering if anyone has any advice for me? A business can not live on expenses alone.

 

oliondor

5+ Year Member



 
Msg#: 4607606 posted 6:34 pm on Sep 5, 2013 (gmt 0)

Is it Payscampal ?

Or 2checkscam ?

Try Stripe ! Thy seem more honest and instant setup !

jwolthuis

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4607606 posted 12:42 am on Sep 6, 2013 (gmt 0)

We only get 1 or 2 chargebacks per month ...


I dunno; that seems high. How many is that as a percentage of total orders?

Kendo

5+ Year Member



 
Msg#: 4607606 posted 3:12 am on Sep 6, 2013 (gmt 0)

We only get 1 or 2 chargebacks per month


This not high at all. Too many shoppers use Paypal because they believe that they can easily make a claim and get something for nothing. Years ago our bank realised this and starting charging a claim fee which quickly slowed the phoney claims. Recently Paypal revised their shoppers money back guarantee and the changes are mostly to curb false claims.

piatkow

WebmasterWorld Senior Member piatkow us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4607606 posted 2:58 pm on Sep 6, 2013 (gmt 0)

In most "western" jurisdictions processors have obligations to guard against possible money laundering. This is grossly inconvenient for the honest customer and I doubt very much if it is effective.

dpd1

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4607606 posted 5:57 pm on Sep 6, 2013 (gmt 0)

I guess I must be lucky in my niche... I've only had one charge-back in over 10 years. I'm probably not doing the same volume as a lot of people though.

jwolthuis

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4607606 posted 6:09 pm on Sep 6, 2013 (gmt 0)

This not high at all.

Depends on if they went from 10 to 20 orders per month, or from 1000 to 2000 orders. What *percent* of his orders result in chargebacks?

Tonearm

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4607606 posted 11:26 am on Sep 7, 2013 (gmt 0)

Is it Payscampal ?

Or 2checkscam ?

It's neither of these. It's a more conventional merchant account.

What *percent* of his orders result in chargebacks?

Orders doubled from about 30 per day to about 60 per day so it's roughly .1%.

mattb

10+ Year Member



 
Msg#: 4607606 posted 6:06 pm on Sep 9, 2013 (gmt 0)

It's probably not your chargeback rate.

The processor is floating you a loan until they receive the payments from Visa/MC. They want to make sure you ship the product. Did they give you a date that they would release the funds? This happened to us many years ago. It was a surprise at the time, but we made it through. It hasn't happened since.

Tonearm

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4607606 posted 6:12 am on Sep 10, 2013 (gmt 0)

I have not been given a date. They say there is only one person I can discuss it with and I called, emailed, even called his department and asked them to give him a message to contact me and I heard nothing back. They now have about ~$50K of mine and literally no one there will even talk to me about it.

Kendo

5+ Year Member



 
Msg#: 4607606 posted 7:31 am on Sep 11, 2013 (gmt 0)

They now have about ~$50K of mine and literally no one there will even talk to me about it.


I have heard this many times before in the software and gaming industry, and it was by the merchant who you would suspect last.

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