B2B, Credit Card Processing

B2B Transactions: Level 2 and Level 3 Credit Card Processing

Unfortunately, in October 2017, Visa raised its rates for some commercial transactions and businesses won’t save as much by providing Level 2 or Level 3 data as they did before the change. However, if you take a lot of corporate cards, it can still be worth while. By the end of this guide, you’ll be…

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You have probably been told that business credit cards are expensive to process. That’s not exactly true. What you haven’t been told is that there are steps you can take to get lower pricing. It doesn’t matter how big or small your business is – if you take business credit cards, you can qualify for better rates. B2B transactions don’t have to cost more.

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Buying Groups

NATM Corporation Buying Group Review

This review is part of our directory of buying groups/group purchasing organizations.  Buying Group Name: NATM Buying Corporation Industry/Specialty: Appliances/electronics Number of members: 11 Website: http://natmcorp.com/ NATM was founded in 1970, but offers very few details about the group on its website. Strangely, there’s no information to be found on what NATM stands for, and…

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NATM Buying Corporation is a group purchasing organization based in Irving, TX but operating across the United States. It has 11 regional members that sell appliances and electronics. Despite its relatively small membership, it’s a nationally recognized group and all of its members are leading retailers in their verticals. This may have to do with the requirements to join, which include a stipulation that a member business must do at least $50 million in sales per year.

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Buying Groups

Introduction to Buying Groups and Group Purchasing Organizations

As a small business owner, money is always at the front of your mind. Reducing expenses and smart financial management are essential to success. There are dozens of ways to shrink expenses, from minimizing your credit card processing fees to automating common tasks. One option you might want to consider is joining a buyers’ group…

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You may have heard of group purchasing organizations (GPOs) or buying groups, but what are they and how exactly can they help your business? A buying group is an organization made up of small businesses that band together so they can negotiate as a larger group with vendors to receive better pricing and terms on goods and services.

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Credit Card Processing

Square Capital Partners with Upserve

Square Capital and Upserve How does it work? What’s in it for Upserve? For Square? Should I accept a Square Capital Offer? Am I eligible? How do I apply? Competitors Square Capital and Upserve In mid-August, 2016, Square Capital announced an alliance with Upserve, the restaurant management software company that purchased Breadcrumb earlier the same…

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Square entered into the world of marketplace lending a little over two years ago through its Square Capital (Square Cap) program, offering funding to businesses that process credit card through Square. Square’s success with lending has led to a broadening of the program to include the first of several partner companies whose customers may now qualify for similar financial assistance.

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Credit Card Processing, Scams and Fraud

Business Owners: EMV Chip Card Scams and Misleading Sales Tactics

As often happens when there’s confusion, scammers and unethical companies are taking advantage of the confusion. Here are some of the chip card scams you may run into. The “You Overpaid” Pitch The Free Equipment Pitch “This is Visa/MasterCard” Merchant Services Call EMV Compliance Invoice Physical Card Tampering The Facts About EMV Chip Card Scams…

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The switch to EMV chip cards has been a mess for many businesses. The need to purchase new equipment, long delays in certification, customer confusion over using the chip cards, and retraining staff on accepting cards are a few of the problems.

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Credit Card Processing, Legal

Home Depot Lawsuit Against Visa and MasterCard

Wal-Mart filed a similar suit against Visa in May. The Security Problem According to Home Depot Credit Card Companies’ Reactions The Monetary Problem According to Home Depot No Option Are PINs the answer? Prayer for Relief Visa and MasterCard Respond The Security Problem According to Home Depot Home Depot accuses Visa and MasterCard of being…

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It’s a case of a home improvement retail giant versus two network payment processing behemoths. In mid-June 2016, Home Depot filed an antitrust lawsuit in federal district court in Atlanta against Visa and MasterCard, alleging credit card security is inadequate and exposes retailers and customers to hacking.

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B2B, Credit Card Processing

CardPointe by CardConnect

What is it, does it affect you, and what are your options? Let’s take a look. What is the CardPointe fee? Does the CardPointe fee apply to me? What does CardPointe do? Real Time Transaction Management Virtual Terminal Mobile App and Payments Point to Point Encrypted Terminals Hosted Payment Page Recurring Billing with Account Updater…

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CardPointe is a processing solution available through CardConnect and its resellers. A new fee may be showing up on your processing statement starting in July of 2016: The CardPointe fee. Charged by CardConnect, the CardPointe fee is a monthly charge that may be added to your existing processing fees.

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Credit Card Processing

Square’s Transaction Fees and Equipment Leasing

You’ll want to avoid that rate if low cost is your priority. The per-transaction fee is imposed for businesses with an average sale under $10 when using the quote request (called custom pricing) sign up option on Square’s website. Additionally, the company is now offering equipment leases, a practice that we generally advise against here…

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Payment processing company Square has built a reputation on offering simple, flat-rate credit card processing for small business. The well-publicized 2.75% rate was a good deal for businesses with small average transactions or low monthly credit card sales. While that pricing is still an option, businesses should be aware that the company can also charge a second rate with a per transaction fee.

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