If you’re wondering if you have to do anything different to accept a virtual credit card, the short answer is no. However, it’s good to be aware of the factors involved in virtual cards and that’s what I’ll go over in this article. What are virtual credit cards? Virtual credit cards, as their name implies, are digital versions of credit cards. Th...

However, those days are long gone. In early 2017, Visa announced a staged digital wallet fee, which came well after Mastercard imposed a similar fee in 2013. These fees can result in higher interchange costs for small businesses. Which wallets does this affect, and will your business pay more to take digital wallets? Let’s dig into the details. ...

Most businesses want their money as soon as possible, and some are willing to pay to get it sooner. In this article, I’ll go over the most common payment timeframes and whether it’s worth it to pay for faster settlement. What is settlement? Settlement refers to the process of transferring cash from a cardholder’s account to your business. You may...

Issuing Refunds When you process a refund for a customer who paid with a credit or debit card, your credit card processor reverses the sale and the customer is credited for the original purchase price. There typically won’t be an additional processing fee to issue the refund, but whether you get your original processing fee back depends on your pr...

It goes without saying that abruptly losing your ability to accept credit cards can be majorly disruptive. With many consumers choosing to pay by card and still many others not even carrying cash, cards are a key factor for today’s business owners. Let’s take a look at what causes processors to freeze or close your account so you can do everything ...

It's that simple. The article below will provide plenty of reasons why you shouldn't lease a credit card machine, and this page from the Attorney General of NY involving a large leasing company is further proof. Credit Card Machine Leases are Nonsense! Thankfully, the practice of leasing credit card machines has been declining in recent years, bu...

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" Credit card processing is a for-profit business, and the average basic machine costs a processor anywhere from $100 to $300. If a processor provide...

When you’re deciding how to take credit cards, the equipment you purchase is a big decision. In this article, we’ll tackle major brands, popular features, processor compatibility, and more. Need specifics on particular machines? Be sure to check out our credit card machine directory. You can also request quotes for processing and for purchasing ...