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The Merchant’s Guide to Credit Card Decline Codes Credit card decline codes are specific codes assigned to transactions when a payment cannot be processed. These codes help identify the reason for the decline, whether due to issues with the payment gateway, the processor, or the issuing bank. This guide provides a complete list of common credit card decline codes and their meanings to help merchants improve payment processing, recover sales and support better customer experiences. Declines usually fall into two categories: Soft Declines: A soft decline happens when the issuing bank approves a transaction, but the payment processor or gateway rejects it due to a temporary issue. Common causes include insufficient funds, exceeding the card's limit, incorrect billing information, or unusual activity. Hard Declines: A hard decline is a permanent authorization failure from the issuing bank, meaning the transaction cannot be retried or processed further. Common reasons include an invalid, expired, or cancelled card, suspected fraud, a closed or deactivated account, or an unactivated card. https://ift.tt/H9EXAYG #news #cto #tech

Ever wondered how payment routing enhances your payment strategy? Watch the video to see how it works at Corefy. With over 100 routing attributes, including the Metadata one, its customisation possibilities are infinite 🤩 And here is a use case from our practice 👇 One of our gambling clients leveraged the Metadata attribute to differentiate customer groups based on their deposit history to maintain high conversion rates among their top-tier customers. Tailor-made payment routes for each group helped them optimise their strategy and boost conversions quickly. #paymentrouting #paymentprocessing

Four UK Banks Fall Foul of CMA Rules: Would Tougher Punishments Improve Customer Outcomes? | The Fintech Times Four UK high-street banks have failed to comply with banking rules designed to keep customers safe. HSBC emerged as the biggest offender, with the regulator directing the bank to implement changes to ensure it is not guilty of further breaches in the future. AIB and Lloyds were found non-compliant with high standards for open banking. AIB failed to make available the correct annual rates for some loans and overdrafts through open banking and on its website; while Lloyds failed to make addresses of 363 ATMs available through open banking. https://ift.tt/dzrBcvi #news #cto #tech

5 Best High-Risk Merchant Accounts in 2024 A high-risk merchant account is designed to help businesses that have been rejected by traditional banks due to their industry, sales volume, or poor credit history. These accounts are offered by specialized payment processors that provide a range of services tailored to meet the unique needs of high-risk businesses. When choosing a high-risk merchant account service provider, consider factors such as industry expertise, client support, secure payment processing services, scalability, and flexible pricing and contract terms. Look for providers with experience in your specific vertical and who offer customizable solutions that can scale along with your business. The best high-risk merchant accounts will provide you with top-notch client support, expert account managers, and tailored payment processing solutions designed to minimize fraud and chargebacks. With a high-risk merchant account, you'll be able to process payments securely and efficiently, even if your business has been classified as high-risk due to poor credit history or industry-related concerns. Some popular options for high-risk merchant accounts include PaymentCloud, Durango Merchant Services (DMS), First Card Payments, High Risk Pay, and Flowhub Pay. Each of these providers offers unique strengths and can provide you with the support and services you need to succeed in your high-risk business. https://ift.tt/rFAoOX1 #news #cto #tech

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Manually managing processes isn't practical, but diving into the tech stack to automate Bacs and FPS payments as an indirect participant can be challenging. Check out our latest article, where we break down the complexities and explore how solutions like Numeral make this journey smoother. https://bit.ly/48JMSWS

Manually managing processes isn't practical, but diving into the tech stack to automate Bacs and FPS payments as an indirect participant can be challenging. Check out our latest article, where we break down the complexities and explore how solutions like Numeral make this journey smoother. https://bit.ly/48JMSWS

Manually managing processes isn't practical, but diving into the tech stack to automate Bacs and FPS payments as an indirect participant can be challenging. Check out our latest article, where we break down the complexities and explore how solutions like Numeral make this journey smoother. https://bit.ly/48JMSWS

Manually managing processes isn't practical, but diving into the tech stack to automate Bacs and FPS payments as an indirect participant can be challenging. Check out our latest article, where we break down the complexities and explore how solutions like Numeral make this journey smoother. https://bit.ly/48JMSWS

Manually managing processes isn't practical, but diving into the tech stack to automate Bacs and FPS payments as an indirect participant can be challenging. Check out our latest article, where we break down the complexities and explore how solutions like Numeral make this journey smoother. https://bit.ly/48JMSWS