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PIN debit and signature debit transactions have different fee structures. You may pay more for one or the other, depending on the amount of the transaction and other factors. It’s important to know when a customer will be prompted for a PIN. EMV Debit vs. PIN Debit First, let’s clear up some confusion about EMV …
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That’s because while recreational marijuana is now available for sale through dispensaries in multiple states, it’s not legal on the federal level. In fact, the federal government lists it as a Schedule I drug, considered as dangerous as heroin. In 2016, Alaska, California, Maine, Massachusetts, and Nevada voted to legalize recreational marijuana. While medical marijuana …
Credit Card Processing Restrictions on Marijuana Businesses Read More »
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However, the rise of alternative payment channels has muddied the waters a bit, leaving some businesses confused as to why their transactions are card-not-present (CNP) when they expected card-present (CP.) Types of Transactions Firstly, let’s define “card-present” and “card-not-present.” More than just the physical presence of the credit card, a transaction is considered “card-present” only …
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Unlike some other software choices, zingFit was specifically designed for group fitness businesses, meaning it’s particularly suited for yoga and pilates studios, bootcamp-style fitness classes, spinning, and other activities done in a group or on a team. The software does offer recurring billing services, so you could use it for individual-style gyms and fitness business, …
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Officially termed “credit card factoring” or “credit card laundering,” this type of misrepresentation is illegal. You could end up with fines, lawsuits, and more. Under no circumstances should you sign up for a merchant account for someone else’s business in your name, or allow another business to use your business’ merchant account. Let’s look at …
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While not every industry is the same and constructing a recreational dispensary in California’s newly legal market requires different paperwork than opening an organic juice stand in your local library, there are generalities in business. Half of the legitimate businesses in the U.S. fail within the first year, according to the Small Business Administration. Even …
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Today we will discuss the most basic credit card processing device found in a retail business: the standalone credit card terminal. Stand-alone terminals are the simplest and most cost-effective method for accepting card-present transactions (payments where your customer hands you their card) in a retail environment. Although they are the most basic, there are still …
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Gift cards are a wildly popular option in the United States, with GiftCards.com claiming that 93% of consumers purchase or receive a gift card each year. But some businesses aren’t sure how to sell them and stick to paper gift certificates. Upgrading to a gift card program doesn’t have to cost a lot or take …
