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Here is a link to the PCI official “Quick Reference” though be warned it’s still 38 pages long. The end of the guide includes QR codes for specific topics to provide additional information and resources. Many businesses find PCI compliance confusing and frustrating, and there are times when it feels like you need a degree …
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Before we dive into the Visa and Analytics Partners strategic partnership, let’s take a look at AI for marketing in general. What does AI do for marketing and business? You’ve probably already come across AI, either as a consumer or with tools you use at your business. Chatbots are one popular example. But when it …
Visa AI Marketing for Businesses with Analytics Partners Read More »
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But what does that mean for your business? Will customers still have and use Discover cards? Are your credit card processing fees going to change? At this point, we don’t know all the details, but here’s what you can expect with the current information. The Discover Acquisition CapitalOne announced its intention to acquire Discover in …
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A class action lawsuit was also filed, allowing business owners a path to attempt to recoup money they were overcharged. This article includes the official class action website for those who would like to stay on top of deadlines. But first, let’s take a look at what actually happened. What did Discover do? According to …
Discover Class Action Lawsuit for Overcharging Interchange Read More »
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Mastercard uses many different interchange categories to determine the rates and fees your business pays for accepting credit cards. There isn’t just a single “Mastercard business” interchange rate. There are 5 different business card rates, depending on the “program level.” From there, most businesses will see rates further broken into one of two categories: Data …
Mastercard Commercial Interchange – Data Rate 1 and 2 Read More »
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With its minimal underwriting and fast setup, it lowered the barriers to entry for small businesses seeking credit card processing. Suddenly, business owners could download an app, sign up for an account, and accept credit cards within days or even hours. There was no lengthy application before you could start accepting cards, and Square’s simple …
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In this article, we’re going to focus on Visa and Mastercard interchange categories and their effect on your processing fees. In order to do that, we first need to have a common understanding of the basics. Interchange Basics Refresher In my article on interchange rates and fees, I mention several times that there are many …
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Business Product 1 applies to card-not-present transactions and Business Product 2 applies to card-present transactions.There are additional “sub-categories,” determined by spend tiers 1-5. Note that Visa uses Roman numerals, so the spend tiers are I, II, III, IV, and V. Spend tiers relate to the cardholder spending requirements and range from $0 in Tier I …
Visa Business Product 1 and Business Product 2 Interchange Read More »
