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Your business hangs on the little successes you accomplish every day. Is your payment processing optimized to reduce costs, fraud, or risks? If not, then it’s time to question the status quo and spark some change in your company with Dura Pay!
At Dura Pay, we work with you to make your payment processing as pain-free, risk-free, and as customer-friendly as possible. Through our years of experience, we have developed a payment monitoring system that allows you to monitor even the slightest changes that could affect your bottom line.
With a more transparent and efficient system in place, you can be confident that your payment processing system will scale with your company’s growth, enabling you to mitigate risk, prevent chargebacks and fraud, and take on your toughest challenges.
Frequently Ask Question
Did you know in most cases you get charged twice on your refund transactions?
YES, any payment processor can increase the rate at any time, however by law they are supposed to notice the merchant 90 days prior to the rate increase.
Auto-Renewal Agreements are addressed in the latest Code of Conduct. Merchants can notify their processors at any time if they do not wish to auto-renew their agreement. They are not required to do this during a specific period (such as 30 days before the termination date). In addition, auto-renewal contracts have been limited to six-month terms, so that even if you forget to notify your payment processor, the company cannot review your contract for more than 6 months.
Interchange rates are non-negotiable. However, there are certain ways that you can optimize your interchange fees,which will ultimately lead to a lower interchange fee per transaction.
There are multiple factors that affect your interchange fees, the industry you are operating, the type of transaction you receive, the transaction size and volume you process and also of card brands and card type, there are multiple ways that you can adjust how you take credit cards transactions to qualify for a lower interchange category. This is known as interchange optimization, which will ultimately lead to a lower interchange fee per transaction.
In April 2015, both Visa and MasterCard introduced lower interchange rates. According to the updated Code of Conduct, merchants can immediately cancel their existing agreement if the reduction in interchange costs is not fully passed on to them. Due to Canada's tiered (qualified/nonqualified) price structure, price reductions might not fully reflect the lower interchange costs.
PCI (short for PCI DSS) Compliance, stands for Payment Card Industry Data Security Standard. It is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment to protect both the consumer and the merchant.
Some processors issue fines in the form of extra fees if you’re not doing your part to stay PCI compliant.
Are you probably thinking, how refund transactions impact credit card processing fees?
Visa does not charge interchange fees for refund however Mastercard is not the same! In most cases, you should pay a refund processing fee too.
On Aprile 23 2022 announcement from Mastercard interchange, you can clearly see that you will get charged a refund fee if you issue a refund to a customer basically you pay the processing fees twice!
once when you run a sale for the customer and again when you issue a refund to them!
You won't be reimbursed those costs when the refund gets processed and you will pay another fee to run a refund transaction!
Our Success Stories, and Happy Clients
See the results of our customer satisfaction survey and key customer testimonials of strong working relationships, our ability to meet individual needs and our industry knowledge.
During our discovery meeting with the CFO, she expressed disappointment in her current processing company due to staff complaints. Payment transactions are processed by the accounting department using a virtual terminal at …
Our discovery meeting with the CFO and senior technical manager revealed that they were seeking a platform for growing and rewarding loyal customers.
In collaboration with the senior technical manager …
In our discovery meeting with the CEO/Founder, we found a number of deficiencies in their current process.
Our client was receiving a number of fraudulent transactions monthly resulting on average, losing …
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