CardFellow Credit Card Processing Blog

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 Ben Dwyer

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 Ben Dwyer

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 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 card and help ensure […]

In summer 2017, Mastercard began issuing cards with a new bank identification number (BIN.) Where previously Mastercards started with the number 5, some cards 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 Ben Dwyer

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. 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 […]

According to the Department of Justice, two executives of a credit card processing company have been charged with fraud.

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Credit Card Processing

EMV PIN Debit – Common Questions and Problems

by Ben Dwyer

PIN debit and signature debit transactions have different fee structures. You may pay more for one or the other, depending on the amount of the transaction and other factors. It’s important to know when a customer will be prompted for a PIN. EMV Debit vs. PIN Debit My new EMV terminal doesn’t require a PIN […]

With EMV chip cards, some customers aren’t prompted for PINs when entering their debit cards, with the machine instead defaulting to signature debit. Why does this matter, and what can you do about it?

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Credit Card Processing, Specialty Businesses

Credit Card Processing Restrictions on Marijuana Businesses

by Ben Dwyer

That’s because while recreational marijuana is now available for sale through dispensaries in multiple states, it’s not legal on the federal level. In fact, the federal government lists it as a Schedule I drug, considered as dangerous as heroin. In 2016, Alaska, California, Maine, Massachusetts, and Nevada voted to legalize recreational marijuana. While medical marijuana […]

The legal marijuana industry is incredibly lucrative, but customers have little choice but to pay cash for their weed.

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Credit Card Processing

Card Present vs. Card Not Present Transactions

by Ben Dwyer

However, the rise of alternative payment channels has muddied the waters a bit, leaving some businesses confused as to why their transactions are card-not-present (CNP) when they expected card-present (CP.) Types of Transactions Why does it matter? Costs for Processing Chargeback Liability Test Your Knowledge Types of Transactions Firstly, let’s define “card-present” and “card-not-present.” More […]

On the surface, “card-present” and “card-not-present” seem like self-explanatory terms. Either the card was present at the time of a transaction or it was not present.

Card-Present-vs-Card-Not-Present-Transactions

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Health and Fitness

zingFit Fitness Review

by Ben Dwyer

Unlike some other software choices, zingFit was specifically designed for group fitness businesses, meaning it’s particularly suited for yoga and pilates studios, bootcamp-style fitness classes, spinning, and other activities done in a group or on a team. The software does offer recurring billing services, so you could use it for individual-style gyms and fitness business, […]

A competitor of services like MindBody and RhinoFit, zingFit is fitness management software to help you run your fitness business.

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