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However, the rise of alternative payment channels has muddied the waters a bit, leaving some businesses confused as to why their transactions are card-not-present (CNP) when they expected card-present (CP.) Types of Transactions Firstly, let’s define “card-present” and “card-not-present.” More than just the physical presence of the credit card, a transaction is considered “card-present” only …
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Officially termed “credit card factoring” or “credit card laundering,” this type of misrepresentation is illegal. You could end up with fines, lawsuits, and more. Under no circumstances should you sign up for a merchant account for someone else’s business in your name, or allow another business to use your business’ merchant account. Let’s look at …
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Today we will discuss the most basic credit card processing device found in a retail business: the standalone credit card terminal. Stand-alone terminals are the simplest and most cost-effective method for accepting card-present transactions (payments where your customer hands you their card) in a retail environment. Although they are the most basic, there are still …
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Bars and restaurants are enjoying a renaissance in the U.S. and around the world — craft beer, delicious wine, and exciting cocktails are once again enticing people out of their homes. If you’re a brewer, bar manager, brewpub owner, or restaurateur, it’s important to create, brew, and sell the styles of drinks your customers really …
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We’ll break down the fees you’ll need to pay for taking payments in different currencies. In this article, we focus on popular “flat rate” payment providers in the US including Braintree, Authorize.net, PayPal, Stripe, and more. In some cases, it may be less expensive to take international payments with an interchange-plus processor. Note that this …
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Cloud computing changed the way many businesses operate. Software companies in both the B2B and B2C sectors increasingly moved toward cloud-based, software-as-a-service business models. But is it worth it for your business? The debate almost makes it appear that your only two options are traditional cash registers and a cloud-based POS. There are still options …
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In 2017, CNBC noted that Republicans planned to drop a proposed repeal of the Durbin Amendment. Additionally, financial and political publications have reported on the possibility of expanding provisions to cover credit cards, not just debit cards. In 2022, Forbes published a piece suggesting that expansion to credit cards is a bad idea and that …
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By now, you’ve probably seen announcements asking for donations through text messages. Various charitable organizations like the Red Cross have made donating easy – just text a particular word to a short (usually 5-digit) number to make a $10 donation. The amounts and other variables can be adjusted for different purchases or donations. But you …
