Electronic Payments Processing
While it may seem easy from a consumer’s point of view, the process of completing electronic sales transactions can actually be very complicated. A sales transaction can decline for numerous reasons. It’s the job of Electronic Payments Processing (EPP) to make that process as simple, accurate and cost-efficient as possible—all to help you grow your bottom-line.
Payments Processing Services
The EPP team is your main point of contact for all of our payment processors and acquirers across the globe. We leverage these relationships to provide essential payment services. Payment types we support include: credit and debit cards, digital wallets (PayPal, Apple Pay, Amazon, etc.), and Direct Debit/ACH.
However, not all payment transactions are approved by the bank or card company. This can happen for a number of different reasons—for example if the credit card has expired or there isn’t enough money on the customer’s account. We analyze this payment data to get approval numbers as high as possible.
We utilize several methods to increase approvals. When a transaction first fails, we “recycle,” or reattempt the order several times to push it through. If the transaction continues to fail, our teams utilize other communication efforts via email and telephone.
EPP also utilizes another tool – Account Updater – to help improve credit card approval rates. Following a targeted schedule, EPP sends all credit cards that are flagged as an auto-renewal or book club/ADS to our processors to get any account updates on those credit cards.
Credit Card Chargebacks
Finally, the EPP team manages credit card chargebacks on your behalf. If a customer believes there is a problem with their credit card or doesn’t remember making a transaction, they may have their bank issue a chargeback. When this happens, the bank refunds the customer and files a chargeback against your company. We investigate and contest or accept each chargeback case based on a series of rules. Once again to make sure the money you make stays in your bottom-line. Add in the fact that too many chargebacks can result in fines and other penalties to your business, and this becomes an absolutely essential service.
A vital part of Electronic Payments, the order processing gurus keep a close eye on all orders to ensure that you are seeing as few order errors as possible. Whether it’s an incorrect address submitted by a customer on an order form, or if it’s a mistake in a promo code set-up in Advantage, the order processing team will repair those errors, and work with our affiliates, so the orders go through.
The EPP team offers a full line of programs to help our affiliate groups grow their businesses. Some of our other services include:
- Fees and contract negotiations
- Liaison services between our clients and payment processors for all matters, including new services, changes within your business, legal issues, etc.
- Bringing on new payment platforms and digital wallets, along with other currencies (e.g. processing in Australian dollars.)
- Providing assistance with PCI compliance and security
- Reconciliation services along with our partners at 14 West Accounting