In the past, the category had subcategories for credit, debit, and prepaid cards. As of 2023, there are only subcategories for debit and prepaid cards. Interchange rate & fee (debit): 1.55% + $0.04* Interchange rate & fee (prepaid): 1.60% + $0.05 *Note that this fee only applies to unregulated debit transactions. Regulated debit transact...

Historically, this interchange category applied to credit cards as well. As of 2023, there are no CPS Retail 2 Card Not Present interchange categories for credit cards; it only applies to debit and prepaid cards, as follows. Interchange rate & fee (debit): 0.65% + $0.15*, with a $2.00 cap. Interchange rate & fee (prepaid): 0.65% + $0.15, ...

***Update 2023: FreshBooks no longer offers a card reader itself, instead suggesting other brands. We're leaving this article for historical purposes, but businesses looking for a smartphone card reader should consider current options. Check out CardFellow's equipment directory for assistance. FreshBooks started as accounting software, a rival t...

However, a POS is more than just a cash register replacement. These systems are part of an integrated business platform that can scan, process, and track transactions, manage inventory, streamline accounting, enable customer marketing, and much more. If you’re looking to update the technology in your business, a simple cash register won’t do. He...

Note: TransArmor was originally developed and offered by First Data, who has since been acquired by Fiserv. TransArmor is still available under that name, but is now considered an offering from Fiserv. Owning a business is complicated and it can be difficult to completely protect yourself from data breaches. Whether you have store and distributi...

Using a tablet for a POS system provides mobility and a seamless platform for both sales and inventory management. You can take it with you on the go, or use it in a restaurant to take orders or payments tableside. Note that some tablet POS system makers offer bundles that include a tablet and the POS software, but many don’t. If you’re consider...

This Braintree vs. Stripe review will cover a number of different facets of the two services to help you make the right choice for your online business. What are online payment gateways? A payment gateway is the technology that allows you to take payments online. Gateways are integrated into ecommerce stores to authorize card payments, chec...

Interchange downgrades aren't exactly a fun topic, and they can be a little complicated to explain. However, there are very real costs associated with them, and too many downgrades means throwing money down the drain. Fortunately, downgrades are an avoidable expense. The issue is that a processor’s expertise is required to recognize and address ...

Maybe it doesn’t even feel like a choice. You need money to make money; any aspiring small business owner knows this to be true. But who is going to give you a loan with less than stellar credit or no collateral? And, who has time to go through a loan approval process? Click, click, click and that cash advance could be yours. Okay, we understand...

Note: As of summer 2023, this interchange category is no longer listed in Visa's published interchange table. We're preserving this article for historical accuracy, but it will no longer be updated as these categories don't exist anymore.   The categories only apply to consumer rewards cards. (That is, cards issued to an individual consu...