Answers to Merchants’ Most Common Processing Questions

When it comes to running a business, there is an overwhelming number of items to check off your to-do list. Processing payments is just one of them.

Joff Moine, CEO at Axia, shares the answers to three important questions you likely have about your processing environment.

#1 Who Do I Contact When I Have Questions about My Account?

Your best bet is to reach out to support. That’s where you’ll find helpful documents about your processing equipment, frequently asked questions and a helpful voice on the other end of the line.

“The support team can either answer questions on behalf of your Axia representative, or put you in contact with your rep, if the issue is beyond their scope,” Joff says.

  • Contact Axia’s support team at 877-875-6114.

#2 Why Do I Need to Complete My PCI Self-Assessment Questionnaire?

PCI Self-Assessment Questionnaires need to be completed annually. Quarterly security scans are required if any of your equipment is internet-based. The questionnaire you take is tailored to your processing environment because each merchant’s level of fraud exposure varies, depending on card acceptance practices.

“Merchants need to understand where their vulnerabilities are,” Joff explains. “The survey points out and asks very poignant questions about how you process cards. What do you do with receipts? Do you store card data in any way – and if so, is it written on paper or stored electronically? Is it password protected? All of these things fall into the realm of a merchant being PCI-complaint.”

The Most Common Reasons Merchants Aren’t Compliant

The most common reasons merchants aren’t PCI-compliant are:

  • Lack of awareness
  • Failure to understand their liability when it comes to cardholder data protection

PCI registration offers 50 to 100 thousand dollars of indemnification protection. This means if your business is at fault for a security breach of card data, you are protecting your business assets to cover monetary assessments, fees, fines or penalties, etc., per occurrence.

#3 Does the EMV Liability Shift Still Affect My Business?

Although the EMV liability shift started a few years ago, it is still a topic that retail business owners are dealing with. The EMV shift primarily affects retail businesses because these merchants typically process cards in a card-present environment. “There are serious implications of the EMV liability shift because the merchant assumes the loss. It costs them money,” Joff points out.

To avoid this, you need to either purchase EMV-compliant equipment or update the download in your existing EMV-compliant equipment.

A regular chargeback due to something not EMV-related, like a disputed charge or unhappy customer, however, is a different story. “Those issues have the ability to be challenged. Merchants can attempt to resolve those,” he adds.

You can attempt to resolve those disputes by responding to the chargeback notice you receive in the mail, which will include instructions and contact information for support.

Subscribe to Card Talk

Our monthly newsletter delivers the latest payments news straight to your inbox

  • This field is for validation purposes and should be left unchanged.