Accounting and Finance, Business

Taking Bitcoin – Does it Make Sense For Your Business?

Let’s take a look at what Bitcoin is, how you can accept it, and whether you should consider taking it at your business. What is Bitcoin? Bitcoin Miners How are Bitcoins stored? Bitcoin Blockchain How much is Bitcoin worth? Bitcoin Exchanges – Converting to Dollars Bitcoin Fees and Payment Processing How does accepting Bitcoin work?…

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The internet has changed the way we all live, work, play, buy and sell. The web has no borders, but currencies do. Business is increasingly conducted in a virtual world. Now there are virtual currencies to match. Of these, Bitcoin is the best-known and most successful. As it becomes more popular, businesses are starting to ask: Should I take Bitcoin? And if so… how?

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Credit Card Processing

Visa EIRF

EIRF is a Visa interchange category that indicates a downgrade. Transactions qualify for EIRF when they don’t meet the criteria for categories with lower rates. For example, a transaction that is keyed-in to a terminal without address verification information instead of being swiped may fall into the EIRF category.

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EIRF is a Visa interchange category that indicates a downgrade. Transactions qualify for EIRF when they don’t meet the criteria for categories with lower rates.

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Credit Card Processing

Visa CPS/Supermarket

CPS Supermarket is an interchange category used to determine the fee for Visa cards used at grocery stores when the card is present and a customer’s signature is obtained.

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CPS Supermarket is an interchange category used to determine the fee for Visa cards used at grocery stores when the card is present and a customer’s signature is obtained.

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Credit Card Processing

Visa CPS/Retail 2 Card Present

CPS Retail 2 is a Visa interchange category that is used to calculate interchange fees for transactions involving a credit card for certain business types, defined by Merchant Category Codes below.

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Visa’s CPS Retail 2 is an interchange category used to calculate interchange fees for transactions involving a credit card for certain business types, defined by Merchant Category Codes.

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Credit Card Processing

Visa Signature Preferred Card Not Present

Signature Preferred Card Not Present or CNP is a Visa interchange category used to determine the fee for transactions that take place with the credit card not present at businesses other than travel services.

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Signature Preferred Card Not Present or CNP is a Visa interchange category used to determine the fee for transactions that take place with the credit card not present at businesses other than travel services.

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Credit Card Processing

Visa CPS/Small Ticket

CPS Small Ticket is the Visa interchange category that is used to calculate the interchange cost for card-present transactions of $15 or less. It is not necessary to obtain the cardholder’s signature.

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Visa’s CPS Small Ticket category determines the interchange cost for card-present transactions that are $15 or less.

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Credit Card Processing

Visa CPS/Restaurant

CPS Restaurant is the Visa interchange category that is used to calculate the interchange cost for card-present transactions that take place at a restaurant, including fast food businesses.

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Visa’s CPS Restaurant is an interchange category used to calculate the interchange cost for transactions that take place at a restaurant, including fast food businesses, when the card is swiped.

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Credit Card Processing

Visa CPS/Retail 2 Card Not Present

CPS Retail 2 is a Visa interchange category that is used to calculate interchange fees for transactions involving a credit card for certain business types.

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CPS Retail 2 Card Not Present is a Visa interchange category that is used to calculate interchange fees for transactions involving a credit card for some businesses that accept cards in a manner other than swiping.

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