CPS Rewards 2 is the Visa interchange category that is used to calculate the interchange fee for card-not-present transactions and keyed card-present transactions involving a credit card or regulated debit card that produces rewards for the cardholder, such as cash back, or airline miles.
CPS Rewards 2 and Signature Preferred are Visa interchange categories that determine what a business pays when accepting a “rewards” credit card online or by keying it in.
CPS Retail is the Visa interchange category that is used to calculate the interchange fee for card-present transactions when a traditional consumer credit card (instead of rewards, business or government cards) is used and the customer’s signature is obtained.
CPS Retail categories are among the most common Visa interchange rates, as they apply to many basic transactions at retail stores.
Signature Preferred Retail is the Visa interchange category that is used to calculate the interchange fee for card-present transactions involving a credit card that produces rewards for the cardholder.
Signature Preferred Retail is the Visa interchange category that is used to calculate the interchange fee for card-present transactions involving a credit card that produces rewards for the cardholder.
The CPS Card Not Present interchange category that is used to calculate the interchange fee for card-not-present transactions involving a payment made with a traditional consumer credit card (instead of rewards, business or government cards) taken by mail or over the phone.
CPS card not present categories refer to Visa interchange rates that apply to many basic online and keyed transactions.
All of these are important questions to ask. At a certain point, you may face a choice: Do I invest in a stand-alone system that works with other processors or an all-in-one platform that has credit card processing integrated within? We want to help make that choice as easy as possible, so we’ve compiled some […]
When you’re evaluating POS systems, credit card processing is a big factor to consider. Does the point of sale system only work with a specific processor? What are the rates and fees, and are they transparent? Is it flat rate, tiered, or interchange plus pricing, and what is the difference? Most of all, how will credit card processing fees affect my bottom line?
Authorize.net is a great gateway provider, but it’s not a credit card processor. It actually farms out its credit card processing to its parent company, CyberSource. It also charges higher fees for its gateway than some of its resellers. That means you can use Authorize, but get it (at lower prices!) through one of its […]
It sounds counter-intuitive, but a savvy business person can get the most competitive pricing for the Authorize.net gateway while paying as little as possible in credit card processing fees by not getting either service through Authorize.net.
Information provided in this article is for reference only. If you need legal advice regarding processor contracts or Tennessee’s law, consult an attorney. What is an effective rate? What’s good about Tennessee’s new law? What’s bad about the law? Why don’t bank-owned processors have to disclose the effective rate? What happens if a processor doesn’t […]
Effective March 1, 2016, Tennessee became the first state in the nation to pass a law about processing fee disclosures. The law (SB0316) requires that merchant service providers not owned by a bank calculate and list the effective rate for credit card processing on each monthly statement. What does this mean for Tennessee businesses and are businesses in other states affected?
The original Clover cash register is brushed aluminum with white accents, and a matching tablet display and receipt printer complete the basic POS hardware package. Many processors offer the Clover POS for $1,000 or less. While not cheap, the attractive design and convenient features have some businesses deciding that it’s worth the expense, while other […]
The Clover station, a sleek point of sale system available on the Fiserv (formerly First Data) platform, is an increasingly popular choice for businesses that need the functions and features of a full POS system.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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