Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.

Credit Card Processing, Legal

Worldpay Potentially Grabbing Millions in Hidden Fees

Wells Fargo is currently being sued for charging deceptive fees, North American Bancard is currently being sued for charging deceptive fees, Mercury Payments lost a lawsuit (with a $72.5 million payout) for charging deceptive fees, and Worldpay is being sued for similar allegations. While the outcome of those lawsuits is beyond the scope of this…

TwitterFacebookLinkedIn

Several recent lawsuits have put the spotlight on a whole series of alleged schemes by processors to collect junk charges disguised as legitimate fees.

Read the full article

Credit Card Processing

Comdata Review – Is It Worth the Cost?

It also offers accounts payable, expense tracking, prepaid gift cards, and virtual cards for vendor payments and employee payroll. Comdata develops technology, issues credit cards, processes transactions, manages data and reporting, and has its own payment network. This makes it a full-service company that has products in a variety of categories we cover. We’ll review…

TwitterFacebookLinkedIn

Comdata offers a plethora of financial services for businesses of every size in a wide range of industries. It started in the trucking industry, however, and many of its offerings (such as its POS products and fleet cards) are aimed at that sector.

Read the full article

Accounting and Finance

Fundbox Review: Invoice Financing

Invoice financing is a popular method of obtaining short-term business capital to run your business. Fundbox offers both invoice financing and traditional business lines of credit. While these types of loans carry large fees, they can be a great short-term financing option for businesses with bad or no credit. If you’re looking for working capital,…

TwitterFacebookLinkedIn

Fundbox is a startup that offers working capital options for businesses through invoice financing or lines of credit.

Read the full article

ecommerce

Magento Review – Ecommerce Options for Your Business

In this review we’ll dig into Magento including its main features, benefits, customizations, integrations, and payment options. You’ll get a good overview of what Magento can offer you and the insight you need to choose the right eCommerce platform. Types of Ecommerce Platforms Magento Review: Pros Popular Ecommerce Platform Open Source Magento Review: Cons Customization…

TwitterFacebookLinkedIn

Magento is an eCommerce platform that lets you sell products via a website, as an ecommerce shop. It was acquired by Adobe in 2018.

Read the full article

Accounting and Finance

BlueVine: Invoice Factoring and Credit Lines for Liquidity

We’ve previously discussed invoice financing, in which a company uses your business’s outstanding invoices as collateral to finance a loan. BlueVine takes this concept one step further by offering invoice factoring. In this BlueVine review, we’ll look at what that entails and when it may be a good fit for you. Note that there’s a…

TwitterFacebookLinkedIn

BlueVine offers invoice factoring and lines of credit for improved cash flow while you’re waiting on payment from outstanding invoices.

Read the full article

Accounting and Finance, B2B

What Is Behalf? Receive a Loan to Pay Your Vendors

It’s similar to companies offering point-of-sale loans to finance purchases (see our Affirm review for more info on purchase loans) However, instead of financing consumers, it provides microloans to vendors and other business clients when making a business purchase. While consumer sales typically require payment up front, business sales often run on payment cycles of…

TwitterFacebookLinkedIn

Smaller B2B companies know the money constraints of net terms. Behalf offers short-term financing for B2B purchases to help ease the pain.

Read the full article

Accounting and Finance, ecommerce

What is Affirm? Understanding Purchase Financing

Affirm is one of the new wave of companies offering point of sale loans to finance purchases. Retailers like ticketing service Eventbrite, retailers Wayfair and Casper, and travel site Expedia offer point of sale financing. Essentially, when a consumer checks out on a website, they have the option of paying by taking out a loan…

TwitterFacebookLinkedIn

Affirm loans are a short-term loan option for financing purchases at the time of sale, with a simple application and no hard credit check.

Read the full article

Credit Card Processing

Switch: Automatic Card Updating for Businesses

If consumers don’t update their details, it becomes very difficult for businesses to collect payment. This is especially true of online businesses and subscription services, where the card is not present. Without valid card details, requests for payment will be denied and chasing down consumers can be time-consuming and expensive. If you’ve already granted access…

TwitterFacebookLinkedIn

Every time a new card is issued, the information and security credentials change slightly. Whether it’s the card number, expiration date, or the card security code, these differences matter.

Read the full article