Results 1 to 5 of 5
  1. #1
    Join Date
    Jul 2007
    Posts
    333
    Plugin Contributions
    5

    Default Square Payments and strange request from Square

    I recently suggested to a customer that he should use Square as well as PayPal on his online shop. He registered with Square and activated the plugin all went well then after about a month of trading he got strange requests from Square. This business is well established 45 years, turnover in the Millions of Pounds. Square asked for three months bank statements so they can see that they have the funds to make refunds if required. Obviously, the customer was not very happy about suppling this sensitive information. They called Square and got absolutely no where, as they the customer refused to supply 3 months bank statements, Square suspended their account. Crazy!! Has anyone else experienced anything like this.

  2. #2
    Join Date
    Jan 2004
    Posts
    66,350
    Blog Entries
    7
    Plugin Contributions
    271

    Default Re: Square Payments and strange request from Square

    It's a normal process for any payment provider to request information about the client whom they're representing, especially since it pertains to their ability to provide services appropriately for that client's needs.
    Usually it's in the terms of service.

    I'd say IMO Square is just doing normal due diligence. If there have been a lot of refund requests or chargebacks then they need to assess their ability to handle risk if the merchant's customers frequently cancel orders.

    I suggest putting a different spin on it: Use the opportunity of providing business statements as a reason to ask Square to give them a better discount rate (eg: lower fees per transaction). Square needs the same information in order to make that assessment, so go through the exercise looking to make it a win instead of a point of frustration.

    If they've got nothing to hide then there's no reason to hold back.
    .

    Zen Cart - putting the dream of business ownership within reach of anyone!
    Donate to: DrByte directly or to the Zen Cart team as a whole

    Remember: Any code suggestions you see here are merely suggestions. You assume full responsibility for your use of any such suggestions, including any impact ANY alterations you make to your site may have on your PCI compliance.
    Furthermore, any advice you see here about PCI matters is merely an opinion, and should not be relied upon as "official". Official PCI information should be obtained from the PCI Security Council directly or from one of their authorized Assessors.

  3. #3
    Join Date
    Jul 2007
    Posts
    333
    Plugin Contributions
    5

    Default Re: Square Payments and strange request from Square

    Quote Originally Posted by DrByte View Post
    It's a normal process for any payment provider to request information about the client whom they're representing, especially since it pertains to their ability to provide services appropriately for that client's needs.
    Usually it's in the terms of service.

    I'd say IMO Square is just doing normal due diligence. If there have been a lot of refund requests or chargebacks then they need to assess their ability to handle risk if the merchant's customers frequently cancel orders.

    I suggest putting a different spin on it: Use the opportunity of providing business statements as a reason to ask Square to give them a better discount rate (eg: lower fees per transaction). Square needs the same information in order to make that assessment, so go through the exercise looking to make it a win instead of a point of frustration.

    If they've got nothing to hide then there's no reason to hold back.
    Thank you DrByte for the balanced response. To the best of my knowledge there has not been any refunds. The company is very fair even to the point of refunding part of the shipment cost if they find a cheaper way of shipping the products. I think the attitude of the person at Square that they spoke to didn't help the situation, apparently they were very arrogant and demanding. I get the due diligence aspect, and some of the information requested was/is very reasonable. It's not like the company is new a business it is quite ease to find details on a business that has been running for 40 plus years. Personally if I was the owner of the business I would be reluctant to provide 3 months bank statements.

    I will pass on your comments to them, thank you.

  4. #4
    Join Date
    Jan 2004
    Posts
    66,350
    Blog Entries
    7
    Plugin Contributions
    271

    Default Re: Square Payments and strange request from Square

    They could try contacting Square to ask for an account manager in order to request an account review.
    If they get someone on the phone other than the person whose attitude was offputting, then it may be a good time to also note the frustrating experience encountered, as I'm sure they don't want negative customer experiences.

    For US merchants, there's a phone number on https://www.zen-cart.com/content.php...s-for-Zen-Cart for "high volume businesses" that is also a good number to call for account review initiation. If you require help finding a contact for UK, send me a PM and I'll see if I can do some digging.
    .

    Zen Cart - putting the dream of business ownership within reach of anyone!
    Donate to: DrByte directly or to the Zen Cart team as a whole

    Remember: Any code suggestions you see here are merely suggestions. You assume full responsibility for your use of any such suggestions, including any impact ANY alterations you make to your site may have on your PCI compliance.
    Furthermore, any advice you see here about PCI matters is merely an opinion, and should not be relied upon as "official". Official PCI information should be obtained from the PCI Security Council directly or from one of their authorized Assessors.

  5. #5
    Join Date
    Jul 2007
    Posts
    333
    Plugin Contributions
    5

    Default Re: Square Payments and strange request from Square

    Quote Originally Posted by DrByte View Post
    They could try contacting Square to ask for an account manager in order to request an account review.
    If they get someone on the phone other than the person whose attitude was offputting, then it may be a good time to also note the frustrating experience encountered, as I'm sure they don't want negative customer experiences.

    For US merchants, there's a phone number on https://www.zen-cart.com/content.php...s-for-Zen-Cart for "high volume businesses" that is also a good number to call for account review initiation. If you require help finding a contact for UK, send me a PM and I'll see if I can do some digging.
    Thank you I have suggested that to them, believe they are looking into Barclaycard at the moment.

 

 

Similar Threads

  1. v151 Square Payments - Error on Permissions
    By mrmcastle in forum Addon Payment Modules
    Replies: 2
    Last Post: 29 Aug 2020, 06:01 PM
  2. Replies: 5
    Last Post: 4 Sep 2019, 05:10 PM
  3. Replies: 1
    Last Post: 2 Mar 2019, 07:12 PM
  4. Square Payments for Zen Cart
    By DrByte in forum Zen Cart Release Announcements
    Replies: 0
    Last Post: 23 Jun 2017, 07:08 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
disjunctive-egg
Zen-Cart, Internet Selling Services, Klamath Falls, OR