Craig McClure Explains Why Transactions are Declined
Card transactions are one of the most convenient, easiest and ubiquitous ways to pay. When transactions happen there are many checks that accompany them to make sure that everyone is who they say they are.
However, as Craig McClure explains in his guest feature with Emerging Payments Association, inevitably transactions get declined. He points out, "often merchants have no idea of the real reason why and this can be frustrating because of lost sales and poor customer experiences" and puts together some fairly basic reasons why transactions get declined.
As issuers rely heavily on a variety of data sources, Craig says "Ensuring that merchants take the opportunity to check that data being sent to issuers is as accurate as it can be and implementing enhancements like 3D Secure are important first steps in increasing approval rates"