Contrary to popular belief, debit cards do not incur flat fees. You’ll be charged a percentage of the total and a per-transaction fee, just like with credit cards. However, card-not-present (CNP) debit has more possible interchange categories. There are technically ten interchange categories for Visa CNP debit, but five of them are simply the “regulated […]
When a business accepts a Visa debit card online or by keying in card details, it will pay one of the Visa “card not present” debit rates.
The CPS Retail Debit and Prepaid interchange categories are largely the same as CPS Retail. The difference is the card type. CPS Retail applies to consumer non-rewards credit cards, while CPS Retail Debit and CPS Retail Prepaid apply to debit and prepaid cards, respectively. Furthermore, the debit categories only apply to signature debit. (Sometimes called […]
The terms “CPS Retail Debit” and “CPS Retail Prepaid” refer to Visa interchange categories that dictate part of the fee that businesses pay for certain debit and prepaid transactions.
Depending on the app, you can expect features like inventory management, employee timeclock / tracking, or detailed reporting, as well as industry-specific functions. In fact, the right POS app can help you streamline everything from product ordering to employee time tracking. But which point of sale apps offer the best value? We’ve narrowed down our […]
Point of sale apps let you carry out more functions than simple cash registers or credit card readers.
While you may only be familiar with the main Grubhub name, the restaurant delivery app actually owns many other delivery apps. It purchased Seamless, Eat24, and others. Grubhub claims that you can boost revenue by up to 30% when you offer delivery through its app. But how does it all work, and is it really […]
Delivery apps have taken the dining world by storm, leaving many restaurateurs wondering, “Should I use Grubhub?”
Update: 1/3/2020 I originally wrote about Worldpay’s questionable practice described in the article below back in May of 2019. Then, I spent a good deal of time helping the folks at Reuters understand what was happening in order to expose the deceptive billing tactic. Reuters published its article on the topic in August of 2019. […]
Several recent lawsuits have put the spotlight on a whole series of alleged schemes by processors to collect junk charges disguised as legitimate fees.
Restaurant owners are in a great position to secure low cost credit card processing. Lower “risk” swiped transactions, low chargebacks, and the popularity of going out to eat make processors eager to sign restaurants as clients. At CardFellow, we help restaurant owners and managers find the right fit. Whether you need particular POS features, lower […]
Restaurants notoriously operate on thin margins, so ensuring that you’re not overpaying for credit card processing can help your bottom line.
Some credit card machine companies provide merchant accounts, while others are solely equipment manufacturers. We’ll take a look at why that matters and give a rundown of the major equipment providers in the United States. This article is specifically about credit card machine companies, not the machines themselves. Need details on particular machines? Check out […]
There are a lot of options when it comes to credit card payment machines. Here are some of the leading equipment manufacturers.
That depends on whether the client is paying an invoice or paying a retainer for use to bill against future charges. When the payment from a client is a retainer, that is where IOLTA comes into play. Lawyers have IOLTA or trust accounts at banks that are separate and distinct from the law firm’s operating […]
Interest on Lawyers Trust Accounts (IOLTA) refers to a specific program with requirements for lawyers that receive funds belonging to clients. So how does it work when your law firm receives client payments by credit card?
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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