Category: DECLINE RATE
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Transaction Approval Rate: Make More Money In 30 Days
Your business loses money every time a customer’s payment fails. High-risk merchants in particular watch potential sales slip away because card networks decline legitimate transactions. You can reverse this trend and increase your transaction approval rate within 30 days. If your business processes $20,000 monthly but operates at a 75% approval rate instead of 90%,…
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Credit Card Decline Code 05: Do Not Honor (solution)
CREDIT CARD DECLINES, CREDIT CARD PAYMENTS, CREDIT CARD PROCESSING, DECLINE RATE, PAYMENT PROCESSING, STRIPEIs your store riddled with “Do Not Honor” messages? You’re not alone. These codes harm your business and can ultimately lead to account termination. A cleaner processing statement not only looks better but also improves your odds of getting better rates. These decline codes are also not card network-specific. They apply to Visa, Mastercard, Discover,…
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Credit Card Decline Code 03: Invalid Merchant (solution)
Payment gateways are powerful, but not always informative—at least not directly. Whenever a transaction fails or even succeeds, the gateway displays a response code. When the transaction is successful, we don’t really care about the gateway response. But when it fails, that error code is quite insightful. If you’re suffering from too many credit card…
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Issuer Declined MCC Errors and How to Avoid Them
When it comes to accepting credit card payments, there are many factors that can contribute to a declined transaction. One of the most common reasons for transaction declines is an “Issuer Declined MCC” message. The Merchant Category Code (MCC) is a four-digit code that classifies businesses into different categories based on the products or services…
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FAQ Friday: How Can I Reduce My Credit Card Decline Rates?
Declined transactions, whether they are credit card related or not, are a part of doing business online. Yes, they are annoying, but there are always people who have insufficient funds, unfortunately. Issuing banks are also always going to decline specific Merchant Category Codes. That’s just the way it is. However, that doesn’t mean that there…
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