Credit Card Declines – Approval Rates Vary by State It may surprise you to find out where your business banks and where your customers live impact whether a credit card transaction is approved or declined. Our team conducted a statistical survey of over 8% of all credit card transactions in Read more…
Understanding Your FlexPay Invoice As a FlexPay client, you will receive an invoice every Monday from your FlexPay Client Success Manager. The invoice will cover the previous 7-day period (from Sunday to Saturday), and it will be due for payment the following Monday. For a high-level overview of how we Read more…
How Does FlexPay Bill Clients? FlexPay clients are billed weekly by invoice. One week after sending the invoice to you, we will charge you on the payment option you’ve decided to go with. Here is some more information on our billing process. As part of your onboarding and contract signing Read more…
What is Customer Success? Wikipedia defines customer success in this article as: “[…] the business method ensuring customers achieve success, their desired outcomes while using your product or service. Customer Success is relationship-focused client management, that aligns client and vendor goals for mutually beneficial outcomes. Effective Customer Success strategy typically results Read more…
What Are False Credit Card Declines? False declines are valid credit card transactions that are mistakenly rejected by the bank and are one of the leading reasons consumers are unable to make purchases. Current estimates indicate that about 94% of transactions identified as fraudulent are mischaracterized and should be approved.¹ Read more…
Why Should I Become a FlexPay Referral Partner? Let’s run through a couple of scenarios that we are very familiar with as many referral partners experience similar problems. “I’m a consultant, and I help subscription-based companies optimize collections. The client I am working with is in pain. His churn is through the roof because he is unable to collect from his clients even though they Read more…
Merchant Category Codes: The Impact On Your Company Most merchants aren’t aware that when they first apply for a merchant account to process VISA/MasterCard payments, they are assigned a Merchant Category Code (MCC) by their merchant account provider (acquirer/processor) as part of the account setup process. After you receive your Read more…
Setting Up FlexPay The entire process takes between 1 and 10 business days, depending on the complexity. Your Client Success Manager (CSM) is at your side, supporting you throughout the entire process. For merchants that want a hands-off approach, the FlexPay CSM will take on the entire setup process for you. For merchants who prefer a hands-on approach, we have a Read more…
September 7, 2020 by: Jeffrey Pauletto Chargebacks: Will Chargebacks Increase? No, your chargebacks will not increase with FlexPay. However, it’s important to understand why this is the case, as it’s a valid concern for every merchant. The Impact from Chargebacks We started FlexPay when we were merchants ourselves, trying to fix our own false decline problem. We Read more…
The Best Merchant Category Code for Your Business As our economy becomes more complex and new goods and services emerge, it’s often not cut and dry what merchant category code (MCC) is best for your business. Plus, many companies can potentially qualify for multiple MCC’s. For example, a merchant sells Read more…