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Payment processor choice

Discussion in 'Payment Processing' started by Bogfan95, Sep 18, 2018.

  1. #1
    Hello. I own a street food caravan since 2014.

    Taking payments has evolved a lot, our clients ask us to make card payment available.
    We are unsure if we should go for Square-up, paypal or any other type.

    The want to implement EMV especially Contactless. My questions are.


    1) How many contactless payments can be taken before clients will be asked to introduce pin number. This is an issue as we want to keep a fast flow.

    2) How to handle friendly fraud

    3) Regarding both of the above, which payment processor is the most "friendly" when it comes to chargebacks. We read horror stories where businesses had ALL their funds blocked for 1 chargeback and went bankrupt because they couldn't keep up.
    SEMrush
    Cheers!!
     
    Bogfan95, Sep 18, 2018 IP
    SEMrush
  2. OMI Nutrition

    OMI Nutrition Peon

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    #2
    Hello

    Square or Paypal is a great choice for startups and low revenue or seasonal business. Once you start processing more than $30k annually you will almost always be able to find merchant processors who can customise solutions and deliver a better rate. Do you think your business would be over or under the $30k threshold??
     
    OMI Nutrition, Sep 20, 2018 IP
  3. Bogfan95

    Bogfan95 Peon

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    #3
    We are going to hit over 70 this year.

    From what I've read people complain about Square holding their funds. Our average sale is around 21 dollars. In case of friendly fraud will all our funds be held or only that certain trasaction. Our business model is highly dependent on bankroll.

    Thanks.
     
    Bogfan95, Sep 20, 2018 IP
  4. OMI Nutrition

    OMI Nutrition Peon

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    #4
    I'm not clued up on the specifics of one processor to another. If that's of particular concern to you, it would be the first thing I ask or look for in their Terms and Conditions.
     
    OMI Nutrition, Sep 20, 2018 IP