CardFellow Credit Card Processing Blog

Health and Fitness

Wodify Review

by Paul Maplesden

Opening and managing a gym can be difficult, but Wodify gym management software aims to change all that. It’s a complete solution for managing every aspect of gym membership, programs, trainers, customers, equipment, and much more. We’ll explore how the software works, key features, and how it can help you as a gym owner or…

Many Americans want to maintain a healthy lifestyle. If you’re in the exercise and fitness business, no doubt you’re delighted that gym memberships have been on an upward trend since 2000. In 2015, there were 55 million gym subscriptions, just in the US!

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Credit Card Processing, Scams and Fraud

Merchant Services Scams

by Ellen Cunningham

The sneaky part? It’s not a call from your current merchant services company, and the company has no idea about your current rates and fees. The Merchant Services Sales Call Version 1 Version 2 What Happens What To Do Lawsuits Checking Your Pricing The Merchant Services Sales Call There are different versions of the sales…

Merchant services sales reps use a variety of tactics to try to win your business, but some of those tactics are more deceptive than others. One example is a pre-recorded sales call that claims your pricing has increased and states that if you don’t contact the company, it indicates you agree to the price increase.

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Health and Fitness

Millennium Spa Software Review

by Paul Maplesden

Overview of Millennium Salon Software Millennium salon software is designed to make managing a salon or spa as easy as possible. To do so, it features standard appointment booking, inventory management, and reporting, and combines this with client loyalty features, smart incentives, marketing, membership billing, integrations, and several other useful features. Millennium is designed for…

The marketplace for products and services is shifting, with more people preferring to spend their money on “experiences” rather than just buying more “stuff.” One of the experiences we all enjoy is a good bit of pampering, so how does the software stack up in the world of salons and spas? In this review, we take a deep dive into one popular software option, Millennium.

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Security and PCI Compliance

MAXMIND’s MinFraud Review

by Paul Maplesden

The minFraud service from MAXMIND aims to reduce or eliminate these risks and costs. It uses data points from over a billion transactions to create a risk score for any cards you’re processing. It can then combine that risk score with rules and thresholds you set so you can automatically decide whether to accept or…

Some of the hidden costs of taking credit and debit card payments are fraud and chargebacks — areas where a card is used in a criminal way, or where a customer disputes a transaction. Left unchecked, these can be very expensive for retailers and merchants, with $8 billion in money lost to credit card fraud in 2016.

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Credit Card Processing, ecommerce

Understanding Ecommerce Payment Options

by Julia Olson

When it comes to ecommerce payments, you have several options. One of the more common ways to collect payments is through a virtual shopping cart, but there are alternatives to this method that each have their own unique benefits. Here’s a list of some of the pros and cons to accepting ecommerce payments in a variety…

Creating a seamless experience for your online customers is essential when crafting an e-commerce website. You want to make sure your site is engaging, well written, and optimized for your buyer’s journey – and your payments experience is a big part of that. The last thing you want is for your customer to get all the way to the checkout and leave the page because of a poor experience.

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Accounting and Finance

What is Invoice Financing?

by Ellen Cunningham

Let’s take a closer look at invoice financing and what’s involved. How does invoice financing work? Types of Invoice Financing Upfront Percentages for Invoices Who should consider invoice financing? Costs Finding a Lender Invoice Financing vs. Merchant Cash Advances How does invoice financing work? Essentially, you’ll partner with a lender who will front you the…

Invoice financing, also sometimes called accounts receivable financing, is a way for small businesses to secure money for outstanding invoices before the client who owes the money pays. It can be a helpful option if you’re strapped for cash, but the costs may not make it a good long-term solution.

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Credit Card Processing, News

New Mastercard Bins – 2 Series

by Ellen Cunningham

What is a BIN? Mastercard’s New BINs BINs by Card Brand What do I need to do to accept the new Mastercards? Ecommerce Businesses Notification of Affected Businesses What is a BIN? A Bank Identification Number (or BIN) is the first 6 digits of a credit card number. BINs identify the bank that issued the…

In summer 2017, Mastercard will begin issuing cards with a new bank identification number (BIN.) Where previously Mastercards started with the number 5, some cards will now begin with the number 2. Find out what this means and get details on how to make sure your business is ready to accept these new 2 series cards.

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Credit Card Processing, Legal, Scams and Fraud

Avoiding Fraud: Takeaways from the Commerce Payment Systems Scandal

by Ellen Cunningham

In this article, I will lay out the allegations and show you how to avoid potential scam practices when choosing a credit card processor for your business. The Allegations Fees Rates Guaranteed for Life Cost Comparison Calculators Negative Reviews Red Flags Getting Help – CardFellow.com The Allegations The Justice Department’s notice alleges that the two…

According to the Department of Justice, two executives of a credit card processing company have been charged with fraud. The executives, who worked for Commerce Payment Systems, are accused of perpetuating a scam against thousands of small businesses and obtaining more than $30 million through overcharging and deceptive tactics.

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Credit Card Processing exposed