browse
Why does Paynode apply limits for card charges?
Our industry is deemed to be high risk by credit card schemes due to the high value (dollar amount) of individual transactions and charges are for services to be rendered in the future. To prevent some of the risks associated with card processing, such as chargebacks and fraud, all Paynode members have a maximum transaction limit on card charges and holds within a rolling 30 day period.There is a default cap of 100,000 USD (or currency equivalents in EUR, GBP and SEK) per credit card transaction and trip. The limit applies to the total value of the trip. It is therefore not allowed to split individual trips into multiple Payment Requests as a workaround to exceed the transaction limit. For example: if you have a trip for 150,000 USD, you cannot simply split the payment into 2 x 75,000 USD Payment Requests.
Criteria to increase card limits
To qualify for a limit increase of 200,000 USD (or currency equivalents), Paynode members must meet the following criteria:
- Avinode Group member for 1+ years
- Paynode member for 3+ months
- No chargeback losses
- Establish a Paynode Member Reserve of 20K USD
Once the Paynode Member Reserve is created, it also qualifies the member to have larger monthly card processing volumes.
How to request a limit increase
If you need to process card charges or holds up to 200,000 USD (or currency equivalents), please contact your Customer Success Manager directly or contact Paynode Support at support@paynode.com.
Please note - only credit card transactions have a cap. Paynode does not apply a cap on wires, domestic bank transfers, currency conversions, or instant payments.
Comments
0 comments
Article is closed for comments.