What
is a merchant
account ?
A "bank
account"
established
with a bank
for the settlement
of credit card
transactions.
Any merchant
who wants to
take credit
card orders
must establish
a merchant account.
Internet merchants
need a "Card
Not Present
Merchant Account."
BNZ
- Ph: 0800 737
774 or apply
online or
contact a BNZ
Payment consultant
In addition
you may also
accept payment
from American
Express and
Diners Club
customers, however
you will need
to contact each
of these companies
individually
in order to
obtain merchant
status with
them.
What
is a chargeback?
A
chargeback is
a reversal of
a sales transaction
by the customer's
credit card
issuer. Chargebacks
most often occur
when a cardholder
disputes a transaction
and you, the
merchant, cannot
provide adequate
proof that the
transaction
made to a cardholder's
account is valid.
A chargeback
can also result
from processing
errors, authorisation
issues, and/or
any other transaction
irregularities.
.....see more
about minimising
chargebacks
