Let the new year be the start of a renewed focus on running your business with the utmost efficiency. This includes payment acceptance best practices. Here are easy ways to make sure you’re starting off strong.
- Settle transactions every day. As a courtesy to the cardholder and to minimize chargebacks, send transactions for processing (i.e., batch out) within one day of authorization, and use auto-settle if possible.
- Increase transaction approval rates. These six simple steps help protect you, promote customer satisfaction, and for some businesses, can help overall financial performance.
- Make managing chargebacks less time consuming. You have a chargebacks support tool at your disposal through Payments Insider. The account management portal is complimentary. One of the reports it offers displays all disputed transactions you currently have on file and provides you with a way to respond to these disputes and post supporting documentation for inclusion in your response.
- Eliminate avoidable fees. Here are two monthly fees that may be associated with your payments account.
- Switch over to daily billing to eliminate the additional monthly billing fee on your processing account allowing monthly billing. Email email@example.com to request a switch to daily billing.
- Change your account billing statement message preference from mail to digital and eliminate a monthly printing and mailing fee. Go eco-friendly by viewing your digital statement on Payments Insider. The self-serve account management portal gives you 24/7 access, and the statement widget makes look-up easy.
Article Originally Appeared in Elavon Payment Smart Newsletter