CardFellow Credit Card Processing Blog

Credit Card Processing

Collect for Stripe Mobile Payments

by Ben Dwyer

The Collect app works on smartphones and tablets with or without a compatible card reader. Before you sign up, make sure you know what you’re in for. What is Collect for Stripe? Enabling and Using Collect Collect for Stripe Card Readers Other Supported Services How much does Collect for Stripe cost? Separate Processors for Online…

When a solution called Collect for Stripe promised businesses the ability to use their Stripe accounts to take payments in-person, it was a welcome announcement. But a closer look shows it to be an expensive option for taking credit cards in person.

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Accounting and Finance

Wave Accounting Software Review

by Ben Dwyer

That means you can protect your cash flow, ensure you have enough money to meet your obligations, and grow your business. This in-depth review of Wave Accounting will tell you everything you need to know about the software, so you can decide if it’s right for your business. Wave’s account software is free, but if…

Good financial management is one of the main skills any successful business owner needs to master. Wave Accounting is designed to help you keep control of invoicing, expenses, payroll, accounting and more.

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Business

The True Cost of Hiring Employees

by Ben Dwyer

If you want to control expenses and manage your finances responsibly, it’s important to know the true costs of your employees. As they’re such a large part of your cost base, you have to ensure your product and service prices take into account the total money you spend on employees, not just their salaries, in…

The biggest expense for many businesses is paying for employees, and that’s not just tied up in their salaries. The true cost of hiring, paying, and providing benefits to a member of staff goes far beyond their monthly paycheck.

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Credit Card Processing, Restaurants and Bars

Is It Legal for Employers to Deduct Credit Card Processing Fees from Tips?

by Ben Dwyer

In general, yes, it’s legal, except where prohibited by state or local laws. States that currently prohibit processing fee deductions from tips are California, Maine, and Massachusetts. According to Nolo.com, the law is not clear in three additional states: Delaware, Kentucky, and Montana. In each of those states, existing laws regarding tips don’t specifically address…

Credit card processing fees eat into restaurants’ bottom lines, and as owners look to lower expenses, many wonder, “Is it legal for employers to deduct the costs of credit card processing from servers’ tips?”

Is-It-Legal-for-Employers-to-Deduct-Credit-Card-Processing-Fees-from-Tips

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Business

Growing Your Business: Costs and Considerations of Business Expansion

by Ben Dwyer

Of course, alongside opportunities there’s also risk. It’s important to manage that risk carefully and stay in control of any potential issues as you’re expanding. One of the biggest risks for expanding your business is the cost of entering a new market, and whether you can justify that cost by bringing in enough revenue. Before…

Most businesses consider expanding at some point. Whether you’ve saturated your current market, want to widen your appeal, or you have great ideas for new products, there are always opportunities elsewhere.

Growing-Your-Business-Costs-and-Considerations-of-Business-Expansion

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Credit Card Processing

Taking Fleet Cards – Wex, Voyager, and More

by Ben Dwyer

They’re all the same thing – a card used to purchase gasoline or diesel, as well as pay for tires, oil changes, car washes, or repairs on vehicles in a fleet. However, they all have different requirements and costs for acceptance. As a gas station, tire center, repair shop, or other business owner with fleet…

Fleet cards go by a few different names. You may hear them called fuel cards, fleet cards, or a fleet-specific brand name, like Wright Express (Wex) or Voyager.

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Credit Card Processing

Clover Insights for Business Analytics

by Ben Dwyer

The Clover Insights business analytics app is available from First Data – one of the largest credit card processors, handling nearly half of all US credit and debit transactions. The company also processes Apple Pay and gift card transactions for major brands like Starbucks. In 2014, First Data launched Insightics, an online reporting platform that…

Businesses using a Clover POS system have access to Clover Insights for detailed business analytics.

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Credit Card Processing

Direct Credit Card Processing: Is It Better?

by Ben Dwyer

One option is through their company: a simple path where they connect you right to the card brands, often called direct processing. The other option is the more complicated route they say you can expect with their competitors: a multi-step process cluttered with middlemen. It looks something like this: The path that shows a shorter,…

A misleading diagram is becoming more popular on payment provider websites. It’s a “direct credit card processing” or “wholesale credit card processing” diagram, which shows two different options for securing a credit card processing solution.

Direct-Credit-Card-Processing-Is-It-Better

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Credit Card Processing exposed