{"id":108,"date":"2006-04-28T06:02:38","date_gmt":"2006-04-28T13:02:38","guid":{"rendered":"http:\/\/www.merchantaccountblog.com\/?p=108"},"modified":"2006-04-28T06:05:33","modified_gmt":"2006-04-28T13:05:33","slug":"do-you-pay-for-refunding-customers","status":"publish","type":"post","link":"https:\/\/www.merchantequip.com\/merchant-account-blog\/108\/do-you-pay-for-refunding-customers","title":{"rendered":"Do you pay for refunding customers?"},"content":{"rendered":"<p>Having a good payment processor is a paramount requirement to having your merchant account run efficiently and as low cost as possible. <\/p>\n<p>The reason I say this, is that there are a number of payment processing companies that charge businesses for processing a transaction and for refunding a transaction. To me this sounds absolutely absurd. A business has to pay to process a credit card. Lets just say it costs 2% to process that card. Sometimes customers make returns. Its just a simple fact of business. Now, when you go and refund your customer&#8217;s card, its bad enough that the original 2% is not refunded to you, but to pay an additional 2% to send the money back to the customer is insane. <\/p>\n<p>I&#8217;m not referring to a transaction fee for this. A transaction fee has to be charged on transactions in either direction. Transaction fees are fees for accessing processing networks, they are charged both directions because the processing networks are queried on charges and returns. I&#8217;m referring to processing fees, that % per transaction being charged both directions.<\/p>\n<p>This is bad service plain and simple.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having a good payment processor is a paramount requirement to having your merchant account run efficiently and as low cost as possible. The reason I say this, is that there are a number of payment processing companies that charge businesses for processing a transaction and for refunding a transaction. To me this sounds absolutely absurd. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-108","post","type-post","status-publish","format-standard","hentry","category-merchantaccounts"],"_links":{"self":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts\/108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/comments?post=108"}],"version-history":[{"count":0,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts\/108\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/media?parent=108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/categories?post=108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/tags?post=108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}