Daily Vs. Monthly Discount Cost

Some processors only offer daily discounting, while others offer a choice. If you open a merchant account that lets you choose, monthly discount is usually the better option. Let’s look at the differences between daily and monthly discount. Difference Between Daily and Monthly Discount The names give it away. With monthly discount, your processor deducts …

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Interchange Pass Through Pricing

The benefits of interchange pass through (often called interchange plus) are transparency and lower costs when compared to bundled or tiered pricing models. It’s safe to say that pass through pricing allows your business to get the best credit card processing fees, which is why it’s the only form of pricing we allow processors to …

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Visa Network Participation Fee

We’re leaving this article here for historical reference, but will not be updating it. Instead, new information about the Fixed Acquirer Network Fee (FANF) can be found at the post linked above. Visa has announced a new Network Participation Fee and pricing structure in response to the Durbin Amendment. Part of the amendment allows merchants …

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IRS Merchant Reporting 6050w

If you have a merchant account, this information applies to you. Make sure your processor has your correct TIN and tax filing name. Note: The information herein does not replace the advice of a qualified tax professional. Talk to your accountant about the impact of 6050w and your responsibilities under tax law. Section 6050w Overview …

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The Dodd Frank Wall Street Reform and Consumer Protection Act Financial Reform and Your Business

Within that, a relatively small portion of the act – the “Durbin Amendment” – has made decisive and controversial changes in the way debit cards are processed. These changes were meant to lower the financial burden on businesses, though that has not always been the case. What is Interchange? “Interchange” is at the backbone of …

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