CardFellow Credit Card Processing Blog

Credit Card Processing

Best Credit Card Processing: Define, Learn, Search

by Ben Dwyer

Define Best: What’s Really Important Best Rates — A Big Mistake Learn the Fundamentals of Processing Focus on Markup Pricing Model Terms Search Define Best: What’s Really Important The problem with the word “best” is that it’s subjective. Its meaning is unique to the person using it, and when it comes to credit card processing, […]

You won’t find the best credit card processing unless you define what “best” means for your business, and then learn the fundamentals of processing before setting out in search of a processor.

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Credit Card Processing

Free Credit Card Machine = An Expensive Proposition

by Ben Dwyer

You are virtually guaranteeing that you will overpay for credit card processing if you’re comparing processors based on which ones are willing to provide a free terminal. The Economics of “Free” There’s an Exception to Every Rule One-Two Punch: Free Machine & Cancellation Fee True Cost of a Free Machine = $5,700 EMV Chip Cards […]

Like the saying goes, “there’s no such thing as a free lunch.” Credit card processors recoup the cost of a free credit card machine through expensive tiered pricing and various other fees.

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Credit Card Processing

Flat Rate Credit Card Processing – Fool’s Gold

by Ben Dwyer

If you’re considering a flat rate credit card processing company, here’s what you need to know. What is flat rate pricing? Flat Rate Pricing is An Illusion Truly Competitive Pricing vs. Flat Rate Pricing Interchange Plus Pricing Arguments for Flat Rate Pricing Known Costs Small Tickets What is flat rate pricing? Flat rate is an […]

Flat rate credit card processing is an expensive illusion based more on clever marketing than reality. What some companies advertise as a competitive flat rate is actually oversimplified and expensive pricing that conceals the true costs to process.

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Credit Card Processing

Credit Card Surcharging: Charging Fees for Using Credit Cards

by Ben Dwyer

What is Surcharging? Surcharging History Fast Facts on Credit Card Surcharges Surcharge Basics Surcharges vs. Convenience Fees States Where Surcharging is Banned State-Specific Rules California Colorado New York Maine Texas Pros and Cons of Credit Card Surcharges How to Get Started The Don’ts of Surcharging Cards Alternatives to Surcharging What is Surcharging? Simply put, credit […]

Credit card surcharges, checkout fees, merchant surcharges – whatever you call them, the concept is the same: you add a fee when a customer uses a credit card. But are they legal? And more importantly, are they a good idea for your business?

To answer those questions, we’ll explore all aspects of what surcharging entails.

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Credit Card Processing

Chargebacks: A Survival Guide

by Ben Dwyer

The burden of proof to show that a customer has been rightfully charged falls on you, and when consumers successfully dispute charges, you lose both the product sold and the revenue from that sale. Even when a dispute is unsuccessful, the acquiring bank will withhold payment for any chargebacks until the matter is resolved. Add in the […]

The chargeback process is designed to increase consumer confidence — it’s very easy for credit card users to dispute charges, while businesses and banks have to do all of the legwork to figure out whether or not a transaction is legitimate. From a business’ perspective, however, chargebacks can often be a costly hassle.

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Credit Card Processing

Credit Card Processing Companies: A Who’s Who

by Ben Dwyer

This article will give a sense of the players involved in keeping this system running smoothly, and shed some light on what credit card processing fees actually pay for. Card Brands (Visa/Mastercard) Issuing and Acquiring Banks Credit Card Processors/Merchant Acquirers Independent Sales Organizations (ISOs) & Member Service Providers (MSPs) Aggregators Integrated Software Vendors Card Brands […]

From a business’s point of view, credit card processing is a straightforward system — swipe, sign, and the customer leaves with their purchase. However, making a customer’s experience so hassle-free requires a complex array of companies working behind the scenes to ensure that credit card payments are processed securely and efficiently.

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Credit Card Processing

Qualified, Mid Qualified & Non Qualified Credit Card Processing Rates

by Ben Dwyer

The key to lowering your business’s credit card processing expense is not avoiding non-qualified fees. The key is completely eliminating a processor’s qualification altogether. Who Determines Rate Qualification Non-Qualified Interchange Non-Qualified Credit Cards Over-Simplifying Qualification Qualified Rate Mid-Qualified Rate Non-Qualified Rate Eliminating Non-Qualified Fees Who Determines Rate Qualification Qualified, mid-qualified and non-qualified rates are set […]

If your business is paying qualified, mid-qualified and non-qualified charges to process credit cards, it’s paying too much. In fact, businesses that find a processor through CardFellow typically lower fees by as much as 40% by eliminating non-qualified rates.

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Credit Card Processing

Intuit Merchant Services = Hidden Fees & Fine Print

by Ben Dwyer

Intuit markets its credit card processing services under a few different brands such as Intuit Payment Solutions, Innovative Merchant Solutions, QuickBooks Payments, and GoPayment. Whatever it’s called, Intuit Payment Solutions is an expensive way to process credit cards. In this article, we’ll look at Intuit’s current fee structure and how to determine if you’re overpaying. […]

Hidden surcharges, fine print and tiered pricing combine to make Intuit Merchant Services one of the most expensive, opaque credit card processing solutions on the market today.

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Credit Card Processing exposed