The Corona virus has had a big impact on the world so far. Right now, we don’t know what consequences will follow on our industry and in our businesses. What we do know is that it has created some economic turmoil throughout the business world. Because of this uncertainty, we have instituted a cap of 30,000 USD / EUR / GBP on credit card transaction in Paynode. This means that you can request payment from your customers up to 30,000 USD / EUR / GBP per trip.
This is a temporary Policy and we will roll back to normal as soon as the situation de-escalates.
Why are we putting a cap in place?
As the provider of the Paynode payment platform, Avinode Group is responsible for the overall risk of chargebacks and card fraud of all transactions in instances where our Members are not able to. Due to the uncertainties facing our Members’ businesses due to COVID, we have put this cap in place. This cap enables our Members to still collect payment via credit cards but allows us to limit our potential risk exposure at this time. This is a temporary and situational cap. We will notify you as soon as we are able to raise it.
We recognize that this may be an inconvenience to our Members at this moment and apologize for this. In the future we would like to have ability to address this differently, but we, our processing partners and others currently do not have the tools to support that.