Learn about the risks of using, and accepting credit cards, and how CardConnect helps.
Episode 45: Whether you regularly buy parts, or you sell parts, using credit cards and processing credit card payments is part of your daily routine. What are the risks and what opportunities are there?
To help us with that I would like to introduce Ed Burris of CardConnect.
Question 1: What does CardConnect do?
CardConnect is a tier 1 credit card processor, from the beginning of the transaction to the end, to the funding, they do all of that.
Question 2: What is your background, how did you become an expert on credit cards?
I started in construction but wanted to make a change.
Question 3: What security risks do people face when using their credit cards, and how are they protected?
You risk people figuring out your card number, and thus being able to purchase items with your card. However, if you can prove you did not make the purchase, you can dispute the charge. The cardholder can usually be able to not lose money by doing this, but only lose time disputing it.
Question 4: If you’re accepting payments, for example, if you’re a heavy-duty parts store, what risks should you be aware of?
Accepting cheques from unknown people is always a risk, but also when it comes to larger transactions through a credit card, there’s a chance of it being fraudulent. Cards aren’t automatic cash.
Question 5: What opportunities are there for parts stores or repair shops that process credit cards?
Pre-authorization secures that the transaction with be secured.
Question 6: If there is one thing you want the listeners to take away from today’s conversation, what is that one thing?
Don’t trust things that are said, trust things that are resourced. Do the research, it can save you money in the long run.
You’ve been listening to the Heavy-Duty Parts Report. I’m your host Jamie Irvine and we’ve been speaking with Ed Burris of CardConnect.
To learn more, go to CardConnect
This Episode is Sponsored by TruckPartsInventory.com
Lowering cost-per-mile is all about finding the right part quickly. You will save time by searching for inventory from around North America in one place. You will save money by having the option of buying new, used, or aftermarket parts. You will save yourself work by sending a parts request and having companies contact you. It is easy to use, and it is free. Go to TruckPartsInventory.com today.
Disclaimer: This podcast and description may contain affiliate links, which means that if you click on one of the product links, The Heavy-Duty Parts Report may receive a small commission.