CardFellow Credit Card Processing Blog

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Free Credit Card Processing – What’s the Catch?

by Ben Dwyer

However, some credit card processors are now offering “zero fee” processing as a way to seemingly get around interchange fees and attract businesses to use their services. These processing options may have different names: zero fee processing, cash discounting, and free credit card processing. Obviously there’s a lot of fine print involved, and it’s important […]

You’re probably already aware that you pay an interchange fee anytime a customer pays with a credit card. Interchange fees are generally the most expensive component of credit card processing costs, and they’re non-negotiable.

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Credit Card Processing

What’s the Difference Between EMV and NFC?

by Ben Dwyer

More people use credit cards for payments and mobile phones are becoming a popular consumer payment option as well. Apple, Android, Samsung, and Chase all offer ways for customers to use their smartphones for payments, and new services are popping up all the time. So what’s the difference between EMV and NFC, and why should […]

There was once a time when all you had to worry about was having enough cash on hand to provide customers with change. Those days are long gone. These days you need to be prepared to handle a slew of payment options.

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Uncategorized

Fattmerchant Credit Card Processing – Does it really compare?

by Ben Dwyer

Fattmerchant Charges a Markup – Just Not a Percentage Fattmerchant is putting a trendy spin on its credit card processing markup, but it does still charge a markup. The more accurate statement is that Fattmerchant doesn’t charge a percentage markup. Instead, it charges a higher monthly fee and a per-transaction fee. Those costs are in […]

Anyone who comes across Fattmerchant probably perks up at the promise of no markup for credit card processing. The ability to take credit cards and not have to pay a markup to the processor? Sounds great! But before you rush to sign up, let’s take a look at what it really means and how to accurately compare your options.

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Accounting and Finance, Business

Taking Bitcoin – Does it Make Sense For Your Business?

by Ben Dwyer

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? […]

The internet has changed the way we all live. 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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Interchange Fees

Visa EIRF: Electronic Interchange Reimbursement Fee

by Ben Dwyer

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.

Electronic Interchange Reimbursement Fee (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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Interchange Fees

Visa CPS Supermarket Interchange

by Ben Dwyer

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

by Ben Dwyer

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.

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

by Ben Dwyer

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 exposed