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As a business owner you work so hard to build a prospective customer’s trust- from thoughtful loyalty programs to intuitive product placement, not to mention finding trusted payment processing to keep their personal card information safe. They are eager for your product (or service) and you’re excited to have them as a new customer… but when you run their card through your POS or virtual terminal you get a decline! What happened?!
Running a cardholder’s information and getting a decline can be unsettling so learning the causes can be one of the best ways in helping your business prevent them.
During a normal transaction, when cardholder data is submitted, a digital authorization is communicated with the cardholder’s issuing bank for approval. This request happens within a matter of seconds, verifying the cardholder’s information and if there are sufficient funds. If both are confirmed, an approval will come through. If lack of funds, incorrect information, or fraudulent activity are detected- the transaction is denied.
If it’s not fraud or insufficient funds, missing information can also affect the chances of approval. In fact, the more information you can provide, the better chance a customer has of being approved! Collecting the card number, expiration date, ccv code, and billing address is pretty standard- but when using Align ecommerce’s payment gateway you can prompt the customer for additional information outside of those typical cardholder basics. This extra data can be valuable to not only preventing current declines but may also be useful when building a strong case for disputing any accidental chargebacks in the future.
Find out how Align ecommerce’s payment gateway can help you reduce declines and increase total revenue. Contact us today!
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