Credit Card Processing, Legal

American Express Anti-Steering Supreme Court Case

Ellen Cunningham
by Ellen Cunningham

The court heard arguments in early 2018 and ruled in late June. Let’s look at the arguments on both sides and the results of the case. Ohio v. American Express The States’ Argument American Express’ Argument History of the Case – Lower Court Rulings How Ohio v. American Express Could Affect Your Business Results of…

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You may have heard that a case involving American Express went to the Supreme Court. The case, Ohio v. American Express, determined whether businesses are allowed to suggest customers use lower cost credit cards when paying for purchases.

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Business, Credit Card Processing

Venmo for Business

Ellen Cunningham
by Ellen Cunningham

In this article, we’ll take a look at what Venmo is, current acceptance options, and the company’s plans for expanded business acceptance to answer the question, “Can I take Venmo at my business?” What is Venmo? Venmo and Business Business Limitations Venmo Through PayPal Issues with Venmo for Commercial Transactions Competitors: Symple What is Venmo?…

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With bill splitting apps like Venmo rising in popularity, especially among younger demographics, many businesses are wondering about accepting those payment methods directly. While Venmo does allow for business use, there are limitations – as well as some concerns – to be aware of.

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Credit Card Processing

High Risk Merchant Accounts

Ellen Cunningham
by Ellen Cunningham

In this article, we’ll talk about industries that are considered high risk and how you can find the best high risk merchant account. What is a “high-risk” merchant account? Offshore Merchant Accounts High Risk Definition Other High Risk Designations Terminated Merchant File High-Risk MCCs Visa Mastercard American Express and Discover Costs for High Risk Merchant…

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In credit card processing, certain businesses are considered “high risk” and will need a processor that specifically supports those business types. But there’s some confusion about what exactly “high risk” means.

high risk merchant account

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Credit Card Processing, Security and PCI Compliance

Fighting Fraud with Machine Learning

Paul Maplesden
by Paul Maplesden

There are several good techniques for fighting fraud, including biometrics and multi-factor authentication, but alone, they aren’t enough. Instead, payment providers and the card networks need to dig into the vast amount of payment information that’s produced every day to find patterns that indicate likely fraudulent activities. They can then use this data to find…

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Fraud remains a thorn in the side of businesses, credit card processors, and customers. In fact, credit card fraud created losses of nearly $22 billion in 2015 alone.

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Credit Card Processing, News

Should Your Business Go Cashless?

Paul Maplesden
by Paul Maplesden

The use of cash as the de facto payment option is shrinking, and nearly 40% of Americans favor going completely cash-free. Then, in the summer of 2017, Visa stepped up a “war on cash” by offering businesses money to go cashless. If you run a business, it’s almost inevitable that much of your sales are…

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The way we pay for things is changing. The wide availability of credit cards, debit cards, contactless payments, and online shopping has transformed our payment options.

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Credit Card Processing

Mastercard and Visa Limited Acceptance Programs

Ellen Cunningham
by Ellen Cunningham

Let’s take a look at what you’ll need to do. What is Visa Limited Acceptance? Mastercard Acceptance Factors to Consider Cost Savings Customers’ Payment Preferences Competitors’ Card Acceptance Surcharging Rules Accepting Debit Cards Only Accepting Credit Cards Only Possible Drawbacks For Debit Only For Credit Only Visa’s Rules Mastercard’s Rules Finding a Credit Card Processor…

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As a small business owner, you may wonder if you can accept only debit cards or only credit cards. The short answer is yes, but there are rules you’ll need to follow and considerations before making that decision.

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Credit Card Processing

Saving Money with Interchange Optimization

Ellen Cunningham
by Ellen Cunningham

For most businesses, the problem with ensuring optimal interchange is that it’s confusing, and your processor has no incentive to assist you. However, if you’re a CardFellow client, we include interchange optimization as part of your statement audits. Not a CardFellow client yet? Fill out a business profile to get started. Who Needs Interchange Optimization?…

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Interchange optimization goes beyond the basics of credit card processing. It’s about making sure that your interchange charges (the fees going to the banks that issue credit cards) are optimal for your business and that you’re avoiding downgrades.

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Credit Card Processing, Security and PCI Compliance

Biometrics for Payment Security

Paul Maplesden
by Paul Maplesden

In 2015, credit and debit card fraud caused losses of nearly $22 billion. Anything that can reduce the impact of fraud will significantly improve confidence throughout the payments marketplace and save businesses money. One potential way to fight fraud is through the use of biometrics — your uniquely identifying personal features like fingerprints, voice, face,…

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One of the main issues in the payments industry is how to combat fraud. Although fraud impacts less than 1% of all transactions by some estimates, it’s still a major concern for consumers, banks, card networks, and businesses.

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