Hi all, Can anyone tell me if there is a code of practice for merchant card processing bureaux in the uk? Or who I could complain to? Problem: I have an online shop and accept card payments using Worldpay. I don't have a merchant account, so they act as a bureaux. My fees are high enough at nearly 10% with the fraud guarantee etc. and they keep the money for 8 weeks before passing it to me, but I just also realised that when I issue a refund, Worldpay *keep* the transaction fees. I telephoned Streamline today who process Worldpay transactions, and they told me that they refund the transaction fees if a transaction is refunded. I have to issue a few big refunds as I sell jewellery, but the worse aspect is that I get people from other countries testing fraudulent credit cards on my shop, ordering several identical heavy gold neck necklaces for example. Most are failed (not authorised), but one was passed for 1300 - Worldpay fee 57. Worldpay issued a Warning on the transaction (thus they would not guarantee it) and there was no way I was going to risk chucking away
800 quid sending necklaces to probable fraudsters. I therefore refunded the payment instantly (as I am required to do if I am not going to honour the transaction). However, I have lost 57 in transaction fees to Worldpay. I cannot control who attempts to purchase from my shop; I block ip addresses who attempt to do this kind of thing, but I can't know who they are until they attempt it, and if their attempt is successful, I lose. I don't know the rules but surely Worldpay should not be profiting in this way; if the attempt was fraudulent, WP are profiting from the possible fraudulent attempt to use a credit card! Please could someone advise, and advise in general if it is fair practice for them to retain fees on refunded payments? Even the alledgely rotten Paypal don't do that. :)Thank you for your help.
PS. I can't even find the Worldpay customer service agreement to check what it says. If anyone knows where it is on their website, please could you point it out to me? Thanks