Tag Archives | credit card

Drama Credit Card Processing

Look how happy the lady in this stock image is to buy something online!

I've been through my fair share of Credit Card Merchant providers. It's a mess of an industry. If you are new to e-commerce you may be scratching your head in frustration.

I'll first describe some of the common issues I've dealt with then I'll give you the solution.

Sorry, You Need Signatures

Yep, had a provider a few years ago start to hold back 20% of my money in a reserve account because I don't get customer signatures. Have you ever heard of the internet?

Sorry, We Don't Support Your Industry

Yep, I'm in the firearm industry and way too many hipster startups in silicone valley and most of the other moron credit card companies hate guns and anything associated with them. My industry isn't the only one on the no-charge list either.

Sorry, You Need To Connect The Processing Gateway to A Merchant Provider and Then Maintain PCI Compliance With This Other Provider

You would think the government runs this industry with the amount of confusing stuff you have to deal with. It's sometimes like trying to juggle 3 plates at the same time. Forget dropping them I can't even remember which plate does what.

Sorry, You Have To Respond To This Chargeback Via Fax

Sometimes customers don't recognize your company on their card statement or they hate you or you legitimately have been taken advantage of by a con artist who has used a stolen card to buy something on your site. When this happens the Card company sends you the Chargeback paperwork via snail mail and expects you to respond within 2 days explaining why you charged the person's credit card and include proof like signatures (remember it's the internet) and shipping tracking info etc. My last 2 providers gave me 2 days to respond and required I do so via fax. Follow up info about these chargebacks was also send via snail mail. I had spreadsheet just to keep track of this nightmare.

Sorry, You Have To Be Approved By The Underwriting Department

At the point of initial application merchant providers love to pretend they are considering giving you to secret clearance. The application process reminds me of getting a home loan. Recently our company changed company names and I was informed this required submitting a new application for which I was NOT approved.

Sorry, We Don't Work With / Connect With That Software

There are endless shopping cart applications and our company has 4 different systems that capture customer credit card information for purchases. There are only a few credit card gateways that work with ALL of those systems. This question of compatibility is sometimes more complex as a software system may show it works with your provider only to find out some features are not supported with your gateway.

Sorry, Your Charge Activity Has Grown Too Much/Too Fast

Remember these companies make money when you make money so you might think they would send me a bonus gift and lower my rates when my charge volume increases. I had one provider increase my reserve and make me get emails from customers confirming they did indeed authorize charges.

My Solution? Stripe

I opened a Stripe account about a year ago and at first I didn't think it could be legit because they didn't run be through any sort of complex approval process. Despite this we decided to use it for a few of the applications where it was the only option and it worked.

Further there is no question about gateways, merchants, and compliance partners. Its just Stripe.

When we did our company name change I contacted their support… and they changed it. End of story.

They connect with everything because one of their core company “dealios” is an awesome API. My developers LOVE Stripe and apparently every other application dev team does too.

Chargebacks? No more letters in the mail. They send an email and I respond online via an interface!

Life is good again. What are you using? Do you love or hate it?

CapitalOne is the Best Credit Card Company Ever

This Picture is Fitting For My Below Rave About CapitalOne because the only thing better than being this happy on Splash Mountain is knowing that your credit card cash back rewards just paid for the trip to Disneyland

This Picture is Fitting For My Below Rave About CapitalOne because the only thing better than being this happy on Splash Mountain is knowing that your credit card cash back rewards just paid for the trip to Disneyland

I have a biz crush on CapitalOne. There are very few companies that I 100%, without any hesitation, endorse like I own them. CapitalOne is toward the top of that list.

My experience with CapitalOne has been flawless and awesome from day 1.

My first interaction with CapitalOne was many years ago when I was a broke college student who couldn't get qualified to buy a car with any lending institution… not even the credit unions who will take anyone with a pulse.

Capital One sent me a blank check and gave me a… decent… interest rate.

I've had various credit card accounts with them over the years and here are a few things I will share with anyone with is bored enough to listen to me rave about CapitalOne:

  • At one point I filed bankruptcy and I had a balance on a CapitalOne card that went into the bankruptcy. A lot of creditors hold a grudge and are hard to deal with in a bankruptcy. CapitalOne was as smooth as butter and welcomed me back with open arms.
  • CapitalOne has an awesome online interface and an even better mobile app. Love how easy it is to navigate and make payments.
  • CapitalOne lets me download all transactions from any date range I choose to a spreadsheet for various accounting purposes. *Awesome
  • CapitalOne has the very BEST cash back reward card I can find or get approved for. Their Quicksilver card is 1.5% cash back on EVERYTHING all the time. You can't beat that. My wife and I both have a Quicksilver card and we try to put everything on it. We feel like we are getting a 1.5% discount on everything we buy. (Of course that only works because we always pay it off in full and don't pay any interest fees ever).
  • CapitalOne's Spark card for businesses is equally awesome offering a flat 2% cash back on EVERYTHING. To get the 2% cash back you do have to pay a $59 annual fee but that is an absolute no brainer. If you don't want to pay $59 a year you can still get 1.5% cash back. (The math works out that if you charge more than $12,000 a year it is worth it to pay the $59 annual fee.)
  • CapitalOne is amazing at fraud prevention and fraud restoration. Its very common for me to get a text message and/or email from CapitalOne asking me to quickly verify purchases. I don't find this annoying… rather satisfying.
  • All the same, likely due to my own behavior and not the fault of CapitalOne, I have on more than a few occasions had card info stolen and unapproved charges appear on my card. I make a call that lasts no more than 4 minutes… identifying the charges that I didn't approve and then they… take care of it. All of it… with speed and awesomeness. Every charge is immediately credited back and the replacement card is in the mail.
  • The other day I called to request a new business card for an employee. Phone call lasted about 4 minutes. New card was at my front door the next day… FedEx Overnight at no expense to me.
  • When you call customer support, you get someone in the USA… or at least if they are off seas they must find English speakers that are really good!

Seriously get rid of any existing crappy card you have and go with CapitalOne.

And if any CapitalOne employees are reading this and want to thank me for this endorsement… how about 2.5% on the Spark Card???