Credit Card Processing

Visa CPS (Custom Payment Service) & Your Processing Fees

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In order to understand CPS, you need to understand the fundamentals of interchange and interchange qualification. I’ll briefly cover them in this article. If you’re interested in learning more, which I encourage, check out related articles on the topics of interchange and processor pricing models on CardFellow’s blog. Note: As of summer 2023, Visa has …

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Credit Card Processing

Interchange Clearing Fee – Wells Fargo Merchant Services

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It’s pretty clear from our Wells Fargo Merchant Services review that we don’t hold the company’s credit card processing services in the highest regard. We formed this opinion over many years of reviewing quotes, applications, and statements that push opaque, overly aggressive pricing. One of our least favorite tactics in Wells Fargo’s arsenal of tricks …

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Credit Card Processing

The FTC’s CardReady Lawsuit

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Note: In 2022,the defendent in the lawsuit pled guilty. We’re leaving this article as-is for historical purposes, but will no longer be updating it unless there is another lawsuit or important information related to CardReady’s situation. The newest lawsuit is against payment processor CardReady, and comes from the Federal Trade Commission and the State of …

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Credit Card Processing

3 Ways to Tell if You’re Paying Too Much for Credit Card Processing

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1. You have Non-Qualified Rates Check your statements. Do you see the word “non-qualified” or any variation? (NQUAL, nonqual, etc.) If so, you’re paying too much for credit card processing. Huge red flag. 1a. Did you search for a processor based on “rates” and then sign up with the lowest, with a rate of 1.5% …

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Credit Card Processing

Credit Card Processor Scams

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Disreputable processors range from deceptive to outright scam, and it’s important to know what you’re getting into when you’re choosing a credit card processing company. Take a look at what this business owner was told about hidden fees, cancellation fees, equipment, and more to learn what to watch out for so you can avoid making …

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Credit Card Processing

Top 3 Hidden Fees of Credit Card Processing

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Use this article to determine if you’re overpaying and get tips on finding a credit card processing company that won’t gouge you with these hidden fees. 1. “Non-qualified” Transaction Downgrades If you look at your credit card processing statement, do you see “non-qualified,” “non-qual,”or “nqual” listed anywhere? That’s your first red flag that you’re falling …

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Credit Card Processing

Credit Cards On File: Taking Credit Cards as a Doctor or Healthcare Professional

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Taking credit cards at your clinic may even reduce your likelihood of overdue bills, especially if you implement a credit card on file (CCOF) policy. If you know you want to take credit cards, but it seems like a minefield, this article will tell you what you need to know about accepting credit cards at …

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