Credit Card Processing

Quick Chip to Help Speed Up EMV Transactions

Unlike magnetic stripe cards, chip cards inserted into the reader must stay there until the transaction is complete. In some cases, customers wait 15 seconds or longer for the authorization to go through once the cashier has hit the appropriate payment button. This creates a lot of friction, slowing the checkout process, increasing wait time…

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The US chip card rollout has been confusing and sluggish. Additionally, in locations that have implemented chip card machines, customers are often frustrated or want to swipe their chip cards through the magstripe reader. The primary complaint is that chip card transactions are painfully slow.

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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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Credit Card Processing, Legal

Walmart Sues Visa: Who’s Right?

Update – in November 2017, Walmart and Visa announced that they are settling the lawsuits. Details of the settlement have not been made public, though Visa made a public announcement that they’re pleased with the settlement decision. We’re leaving the rest of this article for historical purposes.  Setting the Stage: PIN vs. Signature Chip Cards…

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A battle is brewing. Citing security issues, giant retailer Walmart has brought a lawsuit against Visa. At the end of June, 2016, Visa filed a countersuit. The news has spread like wildfire, and misconceptions are also spreading fast. Let’s take a look at what the lawsuit is actually about and address some of the incorrect info going around.

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Credit Card Processing

Visa Purchasing Card Not Present

The Commercial Purchasing Card – Card Not Present (or COMM CNP P) is an interchange category that is used to calculate the interchange fee for card-not-present transactions involving a payment made with a commercial purchasing card instead of a consumer credit card.

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Visa’s Purchasing Card-Not-Present is an interchange category. It refers to payments made using a commercial purchasing card when the card is not swiped.

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Credit Card Processing

Visa Corporate Card Level II Data Rate

Corporate Card Level II (also known as US CORP L2) is an interchange category that is used to calculate the interchange fee for card-not-present transactions (including keyed transactions) involving a payment made with a corporate credit card instead of a consumer credit card.

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Corporate Card Level II is a Visa interchange category used to calculate the interchange fee for card-not-present transactions made with a corporate credit card instead of a consumer credit card.

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Credit Card Processing

Visa Business Card Level II Data Rate

The Business Card Level II (US COMM L2) is an interchange category that is used to calculate the interchange fee for card-not-present transactions involving a payment made with a business credit card instead of a consumer credit card. Interchange rate & fee: 2.05% + $0.10 Also known as: US COMM L2 Qualification criteria The Business Card Level II interchange…

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Visa’s Business Card Level II (US COMM L2) is an interchange category used to calculate the interchange fee for card-not-present transactions made with a business credit card.

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Credit Card Processing, Uncategorized

Visa Purchasing Card Level II Data Rate

Purchasing Card Level II (US COMM L2 P) is an interchange category that is used to calculate the interchange fee for card-not-present transactions involving a payment made with a purchasing card instead of a consumer credit card.

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Purchasing Card Level II is a Visa interchange category used to calculate the interchange fee for card-not-present transactions involving a payment made with a purchasing card.

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