As a 20-year veteran of the credit card processing industry, I’ve heard my fair share of complaints surrounding how the industry works. However, today I am going to focus on a far less publicized topic that is significantly more frustrating to a business owner: the dreaded held ticket. This can be incredibly frustrating for the business owner, but the processor is not only doing what they are obligated to do as a processor -- they are doing what they financially must do to protect themselves, as well. In this scenario, the processor could be on the hook for this $40,000 if they’re unable to collect it from you. The point is, I know it’s incredibly frustrating and mildly intrusive when a processor asks you for items that seem non-standard.

Source: Forbes November 28, 2017 12:56 UTC