Hi Nathan,

if you are looking for a Subject Matter Expert on Payment Processing, Card Not present environment Risk Management and Chargeback handling etc - please drop me a message and I will help you out in finding somebody suitable.

Regards,
Markus edit

Hi Nathan,

from a technical side this is great to hear - however in the financial world not all problems can be solved technically. What I meant with my comments was that you need to have a proper Chargeback process in place that deals with the threshold ratings the card issuers will give you as a processor - in other words if you dont successfully retrieve a certain amount of your chargebacks or prevent them from happening in the first place you will exceed this threshold which can lead to significant fines and penalties by the issuer.

In terms of fraud screening - yes having a fraud engine or scoreing and decision tree based fraud screening in place is brilliant but its those transactions that dont fit into the standard criteria that are the most harmful to a business usually - cause let's face it what the engines know (no matter how sophisticated) the crooks know it as well. This means you need processes and human eyes in place to deal with all those and to ensure your systems are kept up to date. Its like in the IT security sector, Fraudsters never sleep and whenever there is a new piece of technology out there making it harder for them, you can bet your house on it that they have it figured out very quickly.

I was used to build Risk departments from scratch so if there is anything I can help you with just drop me a mail or message here.

Regards
Markus edit

Hi Nathan,

not sure what happened here but you gave the exact answer you had given earlier on again now.

-Markus edit

I deleted the post. it auto post somehow, reading what you said above now. edit

Hi Nathan,

I am not in disagreement with you in relation to merchant screening. However when you act as a payment processor at the end of the day the card issuer looks at you for the fraud and chargeback processing and they are only interested in one thing - figures. If your figures go the wrong direction (regardless of how you decide to look at the risk and which way you go about reducing same) they will be quick in sanctioning.

The point I was trying to make is that it is one thing processing payments as a merchant for your customers but a completely different cattle of fish acting as a payment processor. This is a highly regulated area where compliance is key and Loss prevention, Risk Management, Fraud Prevention will have to be one of your core areas. In a CnP Environment you never see real money - its all just numbers in a computer or a sheet but at the end of the day for somebody out there those numbers are real money. As soon as you process transactions on behalf of a business its not the merchant thats responsible its you the payment processor whos responsible to ensure your merchants follow the rules.

In terms of those fees - just a word of caution, we are not talking about pocket money here. Those fees don't hurt the business they dig a hole in it and have put more then one payment processor out of business over the years.

Dont get me wrong - I am not here to jump on you. Not at all. But I am giving you advice what you and your partners are facing with this venture and the grim realities of what happens when the business doesnt comply with the rules of the card issuers and of course the regulatory bodies.

I hope you can see all this as constructive as it is meant to be.

Regards
Markus edit

Hi Nathan,

I'm glad you take it the way it was meant to be - as advice. I wish you all the best with the two new adventures and I hope you keep us posted here as to how they progress.

Happy Easter
-Markus edit

Hi Markus,

Thank you Happy Easter, and we probably can later discuss more about the business model, and chargebacks ex in private later. edit

E-commerce and Payment processing is very essential for better business opportunities. E-commerce helps buying and selling of products online and payment processing is necessary for accepting or processing payment through credit/ debit cards.
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credit card processing merchant services edit

Both these concepts are very important and have become an essential part of ecommerce industry. They bring a lots of opportunities in this field and people also prefer them on high priority basis. Both have their significance as ecommerce and payment processing are interconnected to each other. Ecommerce deals in online transactions and payment processing deals with ecommerce credit card processing transactions.


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