Bank of America Merchant Services Review: Everything You Need to Know About BOFA Credit Card Processing By Jasmine Glasheen Bank of America is one of the most well-known names in credit card processing and it’s easy to think that aligning yourself with one of the biggest names in the game means you’re going to benefit […]
ShopKeep Review: Pricing, Features, and Everything You Need to Know Retailers, restaurants, bars, and all other quick-service businesses will likely be familiar with the ShopKeep brand. Touted as the “powerful yet simple point of sale system made with you in mind,” ShopKeep was designed by a successful business owner to provide other successful or new businesses with […]
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 […]
3 Merchant Processor Scams and Tricks to Stay Away From For the vast majority of business owners, the selection of a payment processor is done in much the same way that one would go about selecting an auto mechanic. Unless you are very familiar with how a car works and how it should be repaired, […]
MasterCard Interchange Rates: What You Need to Know All merchants accepting credit or debit card purchases, whether in-store or online, will be familiar with the concept of interchange rates — these pesky fees that can mount up quickly and cut deeply into merchants earnings. These rates and the requirements around them are often quite complicated, […]
ISOs/MSPs: Who are They and What’s Their Role in Credit Card Processing? By Jasmine Glasheen The terms ISO/MSP are volleyed around a lot in the payments industry… Which is ironic, considering they’re expressions few merchants understand. It is a challenge to cut through all of the credit card company jargon to come to an understanding […]
The Credit Card Processing Effective Rate: How to Compare Merchant Service Providers By Alexandra Sheehan It’s pretty much a given that entrepreneurs who want to get serious about their business in 2019 need to accept credit card payments. They account for well over half of consumer transactions by a dollar spent — compared to just […]
Merchant Credit Card Fraud: What It Is and How to Avoid It Credit card fraud is one of the most common forms of fraud. Its repercussions flow not only to the person whose identity or credit card was stolen, but also the merchants who have processed payments. When you process a fraudulent transaction, not only […]
How Credit Card Processing Works: Who’s Involved and What Happens? By Alexandra Sheehan In 2017, credit cards were used for more than 60% of consumer payments (by dollar spent), according to the Wall Street Journal — more than any other form of payment. How do those credit card transactions turn into dollars in your business […]
Refunding Money: How to Create a Refund Policy While Increasing Revenue By Alexandra Sheehan $351 billion. That’s how much product consumers returned in 2017. Sounds like a huge number, right? It’s only 10% of total retail sales that year. While technically speaking, refunds involve taking money out of your pocket and putting it back into […]
Verified by Visa: What It Is and Should Merchants Use It? Any merchant with an e-commerce business will have most definitely heard about Verified by Visa by now. It’s been around for almost two decades, so it’s not exactly new. That said, adoption of the technology — at least in the beginning — was slow […]
What to Do if Your Credit Card Processor Increases Your Rates By Jasmine Glasheen Credit card processing has never been cheap for merchants. Yet in the past decade, it has become a substantial, growing (and sometimes shocking) expense for small and large business owners alike. The Nilson Report found that merchants paid an estimated $64 […]
Debunking Misconceptions About Wholesale Credit Card Processing Rates By Alexandra Sheehan It’s nearly impossible to thrive as a small business without accepting credit cards as payment. In 2017, credit cards were used for more than 62% of consumer payments by dollars spent. And though it’s a necessary cost of doing business, it does come with […]
Payment Depot vs. Fattmerchant: Which Solution is Right for Your Business? By Jasmine Glasheen Choosing between payment processing providers is a challenge — especially when you come across two payment processing companies that seem quite similar at first glances, such as Payment Depot and Fattmerchant. Since both Payment Depot and Fattmerchant offer membership-based credit card […]
How to Prevent Friendly Fraud in Your Small Business By Alexandra Sheehan Don’t be fooled: Though friendly fraud might sound nice, it’s anything but. Friendly fraud is still fraud, and it’s detrimental to businesses across the globe. Fraud is THE top payment-related challenge retailers face. And it’s even worse for SMBs: Businesses with fewer than 100 […]
Fixed Acquirer Network Fee (FANF): What It Is and How Much it Costs By Jasmine Glasheen We get it. No retailer wants to see strange fees popping up on their statement, and the Fixed Acquirer Network Fee is a prime example of an additional fee tacked on by a credit card company that can take […]
Wireless Credit Card Processing: How Does It Work and How Much Does It Cost? Wireless is everywhere today. From our internet connection to our phones, computers, speakers and even televisions, wireless has penetrated our lives to make things more accessible and give us the freedom to browse the internet, watch our favorite shows and make […]
5 Types of Small Business Fraud and Scams to Watch Out For Fraud and scams are, unfortunately, prevalent in the business world today. As more business systems go online, more people become prolific with technology, and some bad actors leverage the weak spots of organizations, big and small, to cash in and take advantage. Small […]
What Are the Average Credit Card Processing Fees That Merchants Pay? It goes without saying that every modern company needs to accept credit card payments. As the Wall Street Journal recently pointed out, credit cards capture the majority share of consumer dollars. In 2017, card payments accounted for 62.3% of consumer payments by dollars spent, […]
Payanywhere vs. Square: Which One is Right for Your Business? Back in October 2014, Apple Pay launched in the US to thousands of merchants via a partnership with Payanywhere, a mobile card reader, giving merchants the ability to take secure purchases in-store, via apps and on the web. Since then, the Payanywhere mobile card reader […]
