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Preventative Maintenance – Increase in Sales Volume
Declined? Declined? Are you sure? Those were the first words out of my mouth when we were vacationing a few years ago. How can my credit card be declined? The merchant suggested calling the bank who issued the credit card. My husband did just that, he called and they repsoned by stating they simply wanted to make sure there wasn’t any fraudulent activity occuring on our credit card. I was thankful someone was looking out for us.
The same is true when you have a merchant processing account. Let’s say you are going to have a weekend summer sale. You heavily market for the sale, so the potential for high sales volume is possible. One of the last items on your “To-Do” list prior to your sale should be to call your credit card processing company. Why? Because you will want to have them put a note in the system for the potential increase in activity. Look at it this way, if you normally process $3,000 – $5,000 a month and then all of a sudden you process $5,000 in one weekend, you’ve already done your part in preventing the RED FLAG from being raised. In some cases, I’ve seen the fraud department put an account on hold for review because they weren’t notified. They will review the spike in sales to ensure the merchant isn’t conducted any fraudulent activity. And in other cases, I’ve seen them reach out to the merchant to make sure everything is going well.
All in all, it’s always good to communicate if there is a shift in your business to ensure a smooth ride ahead.