Credit Card Processing

PayPal Here Credit Card Processing

With the Here mobile option PayPal takes direct aim at Square — the market leader in the smartphone credit card processing space. Square has a few things to worry about, too, not the least of which is PayPal Here’s slightly lower pricing and the more accessible phone support for prospective and existing customers. Pricing Swiped…

TwitterFacebookLinkedIn

Micro merchants and businesses that need to accept credit card payments while on the go have several smartphone credit card processing options to choose from. In addition to Square and Clover Go, one of the big players is PayPal Here, a service that allows iPhone, iPad and Android users to accept credit card payments through their mobile device.

Read More

Credit Card Processing

Transaction Integrity Fee (TIF) Visa

Effective April 13, 2012, Visa began charging a Transaction Integrity Fee (TIF) of $0.10 on transactions involving Visa debit and prepaid cards that do not meet CPS requirements (more on this later). The Transaction Integrity Fee will not apply to Visa credit card transactions. Transaction Integrity Fee Details of the Transaction Integrity Fee Transaction Integrity…

TwitterFacebookLinkedIn

In 2012, Visa added a Transaction Integrity Fee to its list of charges for accepting a Visa credit card at a business.

Read More

Credit Card Processing

Fixed Acquirer Network Fee (FANF) Visa

Visa’s new Fixed Acquirer Network Fee increased credit card processing fees across the board.

TwitterFacebookLinkedIn

Visa’s Fixed Acquirer Network Fee (FANF), previously called the Network Participation Fee (NPF), is a monthly fee that affects all businesses to a varying degree.

Read More

Credit Card Processing

Mastercard Merit III Credit Card Processing Fees

Merit III is MasterCard fancy way of referring to a card-present transaction. Merit 3 can actually apply to several different interchange categories based on card brand, type and qualification. Merit 3 (or Merit III) is a MasterCard interchange qualification for credit and debit card processing fees. A Merit 3 transaction is settled within one day…

TwitterFacebookLinkedIn

Merit 3 (or Merit III) is a MasterCard interchange qualification for credit and debit card processing fees.

Read More

Credit Card Processing

1.54% “Flat Wholesale Rate”

I have a question about a specific company – [removed to protect the guilty]. They are saying the rate they can provide is 1.54% on qualified and mid-qualified cards (“flat wholesale rate”). The only other rate is “up to 4.61%” on non-qualified cards. Then they charge a three-cent credit card transaction fee and no basis…

TwitterFacebookLinkedIn

Sometimes it’s easier to explain pitfalls in credit card processing by using real situations our clients have encountered. The 1.54% “flat wholesale rate” is one example.

Read More

Credit Card Processing

Are Credit Card Processing Fees Negotiable?

Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing is like any other industry in that there are fixed costs and markups. Fixed costs are those that a processor can’t change, and markups are open to discussion. Understanding the components of credit card processing cost…

TwitterFacebookLinkedIn

Some credit card processing fees are negotiable, and some aren’t. If you’re looking to lower credit card processing fee, put the spreadsheet aside for a moment and read this article before you call another processor to ask the fateful question, “What’s your rate?”

Read More

Credit Card Processing, Interchange Fees

Understanding American Express Merchant Services

There’s a lot of confusion of American Express merchant services. We regularly field questions about discount rates, pricing models, and settlement. In this article, we’ll explain everything you need to know about accepting American Express at a business. Just looking to see costs to take Amex cards? For the most up-to-date pricing, use our free…

TwitterFacebookLinkedIn

In the past, American Express was the most expensive credit card to accept; a reputation that it hasn’t shaken despite introducing a new pricing structure to bring costs more in line with other card brands.

Read More

Credit Card Processing

How to Read an Intuit Merchant Statement

This tutorial will show you to read an Intuit merchant statement, and it will highlight the aspects of Intuit’s credit card processing servicesthat make it expensive and opaque when compared to more competitive options that we will cover. The methodology that we use to analyze an Intuit merchant account statement is outlined in our article…

TwitterFacebookLinkedIn

Understanding an Intuit merchant statement means reading between the lines.

Read More