E-Commerce Gateways

[NETCASH]

Hi there
All card transactions have a 180 day "charge back" time. This means that any transaction can still be returned with a legal (ie fraud) claim being lodged within 180 days from processing such. Debit orders however have a 40 day "return time".
What this basically means is that if a dispute is lodged within the time frame - the transaction can still be returned - even after a longer period of time; but you have to make the bank/merchant aware of the legal 'dispute' within the time frame.

[Snoopy_inc]

Thanks for the info.

The other half of the question was how long once a claim has been submitted does one receive the monies for the claim?

[NETCASH]

Hi there

This depends on the claim and if it will be settled... Each case has its own merrits.

I really can't say.

[Snoopy_inc]

You see this is my only concern with going with CC transactions. If i have an amount of 500,000.00 processed and its fraud... i cant twiddle my thumbs waiting for 40 days till it gets returned to me.

[NETCASH]

True Snoopy inc

But that is why you have what is known as 'line amount' / 'item processing' limits which you can setup... Transaction values larger than your limits can be "blocked" for authorisation.
This will limit your risk to a certain extent but the reality still remains... Your money is only as secure as your most reliable client. All Credit Card Processing has a certain amount of risk.

[SilverNodashi]

You see this is my only concern with going with CC transactions. If i have an amount of 500,000.00 processed and its fraud... i cant twiddle my thumbs waiting for 40 days till it gets returned to me.

That is a problem you're gonna have regardless of who you choose to be your payment gateway. Fraud is fraud. I'd suggest for that sum of money that you run a credit check on the person before finalizing the deal. If you look at the processes outlined by Master Card, VISA, Diners & American Express, you'll see it's roughly the same as being used by our banks & payment gateways

[NETCASH]

Hi.

I am looking at accepting credit cards on my online shop.
I haven't got a merchant account, so I was looking at either mygate.co.za who have a supermerchant account, pricetag.co.za or setcom.co.za ... which one would you guys use.
I see pricetag's maximum is 5.7% but I'm not sure how good they are with graud detection, but they offer negotiable rates once you achieve over 40k a month.
Mygate is 6%, and they have a fraud module, but I'm not sure if they are negotiable.
What are my risks ITO fraud with these providers ... and do you know how much they refund you in case of a charge back?
Also, how long does it take to access the funds from these gateways as I need the funds to purchase and send the products.
Do you guys think that customers will object to paying 3% extra on the fees to use a credit card, otherwise in some cases, I will make a loss.

Regards

Itai

have you looked at what Netcash has to offer ?