Credit Card Processing

Credit Card Surcharges: Charging Fees for Using Cards

The settlement will allow businesses to reduce the impact of credit card processing fees. However, there are many rules businesses must follow in order to charge checkout fees, as well as pros and cons that should be considered before deciding if surcharging your customers when they use credit cards is the right move for your business….

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A 2013 class action lawsuit against Visa and Mastercard resulted in a settlement that allows businesses to charge their customers a fee for using credit cards — commonly referred to as “merchant surcharges” or “checkout fees.”

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Credit Card Processing

Credit Card Processing Companies: A Who’s Who

This article aims to give a sense of the players involved in keeping this system running smoothly, and to shed some light on what credit card processing fees actually pay for. Card Brands (Visa/MasterCard) Issuing and Acquiring Banks Credit Card Processors/Merchant Acquirers Independent Sales Organizations (ISOs) & Member Service Providers (MSPs) Aggregators Integrated Software Vendors…

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From a business’s point of view, credit card processing is an amazingly straightforward system — swipe, sign, and the customer leaves with her purchase. However, making a customer’s experience so hassle-free requires a complex array of companies working behind the scenes to ensure that credit card payments are processed securely and efficiently.

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Credit Card Processing

Intuit Merchant Services = Hidden Fees & Fine Print

Intuit markets its credit card processing services under a few different brands such as Intuit Payment Solutions, Innovative Merchant Solutions, QuickBooks Payments, and GoPayment. Whatever it’s called, Intuit Payment Solutions is an expensive way to process credit cards. In this article, we’ll look at Intuit’s current fee structure and how to determine if you’re overpaying….

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Hidden surcharges, fine print and tiered pricing combine to make Intuit Merchant Services one of the most expensive, opaque credit card processing solutions on the market today.

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Credit Card Processing

GoPayment – A Costly Mistake!

GoPayment is consistent with the high rates, bundled pricing and fine print that plague Intuit credit card processing services in general. There are several alternatives to GoPayment that offer lower rates, more transparent pricing, and easier sign up. (Published) Rates & Fees What You Will Really PayExcessive Surcharging Card Swiper & Compatible Devices Sign Up…

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GoPayment is a mobile credit card processing service from Intuit that allows a user to process credit card transactions from an Apple or Android-powered device such as an iPhone or Droid.

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Credit Card Processing, Security and PCI Compliance

PCI Compliance is Required – Soon, Validation Will Be, Too

Every business that takes credit cards is required to comply with PCI standards, no matter how few credit card transactions it processes. What is PCI? Secure Card Processing Network Protect All Cardholder Information Protect Your Systems Against Malware Put Access Control Measures in Place Monitor and Test Your Networks Create and Maintain an “Information Security”…

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PCI compliance is a set of rules for the security of credit card transactions. It’s split into 12 basic requirements grouped into 6 categories to help businesses and payment processors create and maintain a reliable, secure processing system.

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Credit Card Processing, Legal, News

Visa, MasterCard Settlement & Your Business

Many large plaintiffs oppose the current Visa and MasterCard settlement, and the fight looks far from over. Update: December 13, 2013 — According to the Wall Street Journal, a judge cleared the swipe-fee settlement. Earlier this month, Visa, MasterCard and several of the nation’s largest banks settled an antitrust suit with a group of seven…

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Visa, MasterCard and several of the nation’s largest banks settled an antitrust suit with a group of seven million retailers. The suit, which dates back to 2005, accuses the card networks and banks of conspiring to fix interchange fees that businesses pay to process credit and debit cards.

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Credit Card Processing

Debit Card Transaction Fees

Unnecessarily high debit card transaction fees are an easily correctable source of significant losses for many businesses. Understanding debit card transaction fees and the difference between signature debit and pin debit transactions will save your business thousands in processing fees. Feel free to jump down to the Signature Debit Vs Pin Debit Cost section if…

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Contrary to popular belief, PIN debit transactions incur more than just a flat fee, often making signature debit transactions cheaper to process. Understanding the ins and outs of debit card transaction fees will ensure you’re not losing hard-earned money pennies at a time.

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Credit Card Processing

What is a POS WATS fee?

Credit card processing statements are full of confusing acronyms and opaque fees. We can help you figure out what they are and how to lower your costs if your fees are adding up to an expensive processing solution. What is a POS WATS Fee? As mentioned above, the pos wats fee is a fee you’ll see…

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A pos wats or pos wat fee is a communication fee that is charged each time a business’s credit card equipment dials the processor’s toll-free 800 number to get or give information.

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