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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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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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It’s that simple. The article below will provide plenty of reasons why you shouldn’t lease a credit card machine, and this settlement 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, but some processors just can’t seem to let …
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We’re leaving this article here for historical reference, but will not be updating it.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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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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1 – Get bundled pricing. Bundled pricing is what you want if you’re a fan of hidden surcharges and paying (way) too much for credit card processing. Ready to get ripped off by credit card processors? Go for bundled (also called tiered) pricing. Type the term “credit card processing” into your favorite search engine and …
5 Great Ways to Get Ripped Off by Credit Card Processors Read More »
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The short answer is: Yes and no. The longer answer is that it depends on the type of card. You’ll have to follow applicable rules as well. Credit cards: Yes. It is acceptable for you to set a minimum charge on credit card purchases as long as you abide by the stipulations as set forth …
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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 …
