Case Studies

[Case Study] CardFellow Ensures Business Receives Durbin Savings

We caught a processor in the act of pocketing Durbin savings, and we saved the business 43% when all was said and done. As this success story shows, a low rate is just the start of savings. A competitive pricing model and fair terms produce savings, too.

TwitterFacebookLinkedIn

One small business finds out just how helpful CardFellow can be when it comes to saving you money on processing fees.

Read More

Credit Card Processing, Legal

Charging Customers a Credit Card Fee at Check Out

It’s important to note that credit card convenience fees are different than credit card surcharges. In 2013, businesses won the ability to charge customers a surcharge for paying with a credit card. Seven states still prohibit surcharging, and surcharges are still not allowed on debit transactions. Read more about the settlement and surcharging in CardFellow’s…

TwitterFacebookLinkedIn

In some cases, your business can charge customers a convenience fee for using a credit card, but there’s a maze of rules, exceptions and even state laws to navigate to ensure you stay compliant with the terms of your merchant processing agreement.

Read More

Credit Card Processing

PIN Debit vs. Signature Debit

So which is cheaper, PIN debit or signature debit? A rough rule of thumb is that PIN debit transactions are cheaper for businesses with larger average transactions. Signature debit is cheaper for businesses with smaller average transactions. Signature Debit / Offline Debit PIN Debit / Online Debit Which method is cheaper? Durbin Amendment Cap Chargebacks…

TwitterFacebookLinkedIn

A debit card can be processed as either a signature or PIN-based transaction and your business will incur different charges depending on which method you use.

Read More

Credit Card Processing

MasterCard Cross Border Fee

Mastercard charges an assessment fee called a “cross border fee” on all transactions acquired in the United States that involve a credit card issued outside of the United States. For example, if a cardholder uses their Canadian-issued Mastercard to make a purchase from a business in Michigan, the business will be assessed a cross border…

TwitterFacebookLinkedIn

Mastercard’s Cross Border Fee is one of many possible assessment fees. If you accept Mastercard at your business, you may see a cross border fee on processing statements.

Read More

Credit Card Processing

Less Discount Paid Means Less Money for You

“Less Discount Paid” Defined “Less discount paid” is the term that credit card processing services use to indicate the amount of money that has been in fees throughout a given month. In order to determine the total amount paid in processing fees for a given month, you have to add “less discount paid” to the…

TwitterFacebookLinkedIn

The phrase “less discount paid” on a processing statement can be confusing. It actually means the amount that you’ve paid in processing fees already.

Read More

Credit Card Processing

The Best Small Business Credit Card Processing

This article isn’t going to just give you a list of “best credit card processors” for one simple reason: the “best” credit card processor for small businesses varies depending on the business. That’s right. Your industry, average transaction size, monthly volume, and more all play a role in the best fit. The best processor for…

TwitterFacebookLinkedIn

So you think that just because you have a small business you can’t get the competitive credit card processing rates that big businesses get? Think again!

Read More

Credit Card Processing

Credit Card Processing Refunds: Is Your Processor Stealing Your Money?

Luckily, plugging the cash flow leak is possible by getting interchange pass through pricing instead of bundled and knowing what to look for. You don’t have to worry about losing money on credit card refunds if you found your processor here at CardFellow. We don’t allow processors to structure pricing in such a way that…

TwitterFacebookLinkedIn

If your business has bundled credit card processing fees your processor is pocketing your fee credits every time you issue a debit or credit card refund. If you’re in an industry that regularly accepts returns and issues refunds (like clothing and shoe stores, general merchandise retailers, electronics stores, and more) this affects you.

Read More

Credit Card Processing

Non Qualified Rate: A Figment of Your Processor Imagination

If so, you’ll be really happy to learn that non-qualified rates are nothing more than a figment of your processor’s imagination often used to increase profits through the practice of excessive surcharging. Non-qualified rates can be easily avoided, and this article will show you how to rid yourself of non-qualified fees forever. The Frustration of…

TwitterFacebookLinkedIn

Are you looking at your credit card processing statement every month while banging your head against the wall trying to figure out how to lower your non-qualified credit card processing fees?

Read More