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

The Veterinary Cooperative (TVC) Review

This review is part of our directory of buying groups/group purchasing organizations.  Buying Group Name: The Veterinary Cooperative Industry/Specialty (if applicable): Veterinary Medicine Number of members: 1,000+ independent clinics Website: https://www.theveterinarycooperative.coop/ How does this group work? You can continue using your current suppliers, or you can use the ones TVC has identified. TVC doesn’t distribute…

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The Veterinary Cooperative (TVC) touts itself as America’s largest veterinary industry purchasing cooperative. It’s located in Evanston, IL, although it’s actually incorporated in Minnesota. Founded by four veterinarians in 2012, the goal of the cooperative is to ensure independent veterinary practices and hospitals remain profitable by gaining a great deal of purchasing power and marketing prowess. In addition to its purchasing activities, the Veterinary Cooperative offers revenue-enhancing programs, profit-maximizing programs, and an online best practice knowledge exchange.

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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

The Alliance Buying Group Review

This review is part of our directory of buying groups/group purchasing organizations.  Buying Group Name: The Alliance Industry/Specialty: Medical/Optical Number of members: 2,600+ Website: https://www.thealliancebg.com/ How does this group work? When you join the Alliance, you’ll have access to custom pricing through partner vendors, and can take advantage of the Alliance’s customer service. Notably, the Alliance…

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The Alliance is a buying group located in Illinois and catering to the medical field, specifically optometry and eye care. The primary focus is on lowering purchasing costs, though other advice and assistance is also available, including professional marketing programs, social media management, and website development services. Its website includes links to the Vision Council and American Optometric Association, though it’s not clear if those are partners of the Alliance or just listed as resources. The group also lists upcoming events relevant to optometrists and those in the medical field.

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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

MasterCard’s Merchant Location Fee

Stay Informed We’ve updated this article several times and will continue to do so. Follow us on Twitter or Facebook for the latest news. Please let us know in the comments how you’ve been charged this fee. What is a Merchant Location Fee? When will I be charged the Merchant Location Fee? What does the Merchant…

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In keeping with the steady flow of fee increases from the card brands, MasterCard has (very) quietly announced it will begin charging businesses an annual “merchant location fee.”

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Credit Card Processing

7 Common Misconceptions About Chip Cards

At CardFellow we’ve heard it all, so we decided to address these myths and misinformation to help you make the right decision for your business. Chip cards are the next evolution of card-based payments, and it’s important to understand the differences between chip and magnetic stripe cards. If your business still hasn’t upgraded to accept…

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It’s been a few years since the deadline to upgrade POS, cash registers, and credit card machines to accept chip credit cards, but there are still a lot of misconceptions about what exactly this upgrade means and even why chip cards are beneficial.

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Credit Card Processing, Security and PCI Compliance

PCI Compliance for Mobile Devices

When using a smartphone, tablet or other mobile POS system, these same standards apply. In addition, specific mobile payments standards apply. In this article, we’ll go over concepts regarding payment security and remaining compliant when processing cards. Security Risks of the Digital Age The Costs of Non-Compliance What to Know About Mobile Compliance Approved POI…

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If you’ve taken credit cards in your store, you probably know that PCI compliance is required. The Payment Card Industry (PCI) set forth a Data Security Standard (DSS) it requires adherence to from any business that processes, stores, or transmits payment card data. But did you know that PCI compliance applies when you take credit cards using your smartphone with a card reader, like Square or PayPal Here?

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