How to Fight and Prevent Credit Card Chargebacks in Your Small Business by Alexandra Sheehan A credit card chargeback is when a merchant charges a credit card for a transaction, and the cardholder later disputes the charge. This might happen because the cardholder is truly a victim of fraud. In other cases, merchants are the ones […]
The Top 5 Payment Processing Trends Making Waves in 2019 Running a successful business requires succeeding at a number of important steps. For starters, you need to pick the right product or service to provide. You also need to have the right marketing and advertising strategies in place to get the word out about your […]
The 3 Essential Things You Need to Know When Processing Credit Cards By Nicole Leinbach Reyhle The customer path to purchase is more complicated than ever and likewise, the journey to accepting, processing and ultimately protecting credit card payments is not straight forward, either. There are many variables that impact credit card payments and more […]
Costco Credit Card Processing: Is it Really the Best Choice for Merchants? Here at Payment Depot, we have a lot of respect for Costco. We love the fact that it’s a membership-based business and the company lets shoppers buy merchandise at wholesale rates. As you may know, we use a similar business model for payment […]
Everything You Need to Know About B2B Credit Card Processing — and How to Lower Your Rates If you run a B2B company — that is, if you do business with other business, then it’s worth exploring the ins and outs of B2B credit card processing. While traditional transaction methods such as ACH and checks […]
4 Noteworthy Technologies Making Waves in the Retail Space By Melissa Gonzalez We are living in a unique time when we are witnessing technological advances are driving shopper expectations at record speeds. Consumers expect options and information at their fingertips; they expect personalized service, frictionless experiences and will reward brands and retailers that not only […]
How to read a credit card processing statement Credit card processing statements can be confusing. For starters, there are no standards or guidelines that regulate them, so merchant statements can vary from one processor to the next. This lack of regulation enables processing companies to make your statement difficult to read on purpose to hide […]
5 Types of Retail Fraud and How to Prevent Them Retail fraud is on the rise. CNBC reported that last year the “level of fraud as a percentage of retailers’ revenues has climbed to 1.58 percent year to date from 1.47 percent,” compared to 2016. Not only that, but according to a 2018 survey by […]
5 Ways to Cut Costs by Banking Smarter All business owners could use more money, but how do we make the most of what we have? One way to save some cash is to rethink the way you use your bank. Banks are more than just storage units for your money, and whether it’s renegotiating […]
A Closer Look at the Shopping Preferences Some of Today’s Youngest Consumers [Gen Z] The influence and buying power’s today’s teens and young adults — aka Gen Z — are rapidly growing. Gen Z (born after the year 2000), is expected to become the biggest consumer generation by the year 2020 and members of this […]
Everything You Need to Know About Interchange-Plus Pricing If you’re shopping around for a credit card processor then you’ve likely come across interchange-plus pricing. This is a term that’s used to describe a pricing model in which the credit card processor breaks down the fees that go to the bank or credit card issuer and […]
Credit Card Machines 101: Understanding Payment Terminals (and How to Choose the Right One) Whether you’re a new entrepreneur looking to set up your payment equipment for the first time, or a seasoned business owner shopping around for a new solution, having the right credit machine is critical. Aside from actually enabling to accept credit […]
Tennessee Supports Transparency and so does Payment Depot Tennessee House Bill 547 requires credit card processors to include the aggregate fee percentage on monthly Statements. At Payment Depot, We love this idea! Our sales team always advises potential members to find their effective rate when shopping around. To calculate this rate, pull out your old […]
Is Square a Good Credit Card Processor for Every Business? Square reported earnings this week and one thing from the report really caught my eye. They reported that a higher percentage of revenue is coming from large merchants. Square offers a simple pricing structure of 2.75% per transaction (or 3.5% and $0.30 if Keyed In). […]
An Honest Look at What People are Saying About Payment Depot Why do Payment Depot’s reviews matter? Our members mean everything to us., so we love to read their reviews. Members are the lifeblood of our company, so good or bad, we want to hear what members’ are saying. Our goal is to provide the best […]
When we created Payment Depot one of our first decisions was to have no cancellation fees for our members. If someone is unhappy for any reason they should be able to cancel their account and find another merchant processor. That means that we have to be transparent with our pricing and always provide the best service in […]
Never Lease a Credit Card Terminal Would you pay $4800 for a $300 terminal? One merchant that we spoke to did exactly that. She had a $99/mo lease for 48 months on a terminal that could have been purchased for under $300. Terminal leases are great for processors and horrible for merchants. You can guarantee that […]
What is Level 2 Credit Card Processing? Since we pass through the direct rates from the card brands to our members, it is in our best interest and yours to get the lowest possible rates. If you are a B2B merchant or you accept a lot of corporate and purchasing cards you should be entering […]
How to Swipe Credit Cards Using the iPhone 7 Yesterday, Apple announced that the iPhone 7 no longer has the 3.5mm headphone jack, which has been the primary way to connect a mobile card reader to phones and tablets. We have been getting calls and emails from members asking how this will impact them so I wanted to […]
Don’t Settle For Cancellation Fees One of our first decisions when we started Payment Depot was to have no cancellation fee. We even took it a step further by offering a 90 day money back guarantee on your membership fee if you aren’t happy with us for any reason. In the credit card processing industry, […]
