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Since interchange is the largest portion of credit card processing fees, it’s worthwhile to dig into the effect of MCC on interchange. I’ll go through the finer points of MCCs below. What is a merchant category code? A merchant category code (MCC) is a four-digit number assigned to a business by an acquiring bank or …
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CardFellow’s free lifetime statement monitoring is just one of many benefits to using CardFellow.com. The credit card processing comparison website helps businesses lower their fees by an average of 40 percent and then monitors their statements to ensure rates remain as low as possible. CardFellow Lifetime Statement Monitoring CardFellow.com, a leading merchant account comparison Website, …
CardFellow Offers Free Lifetime Monitoring to Ensure Lowest Rates Read More »
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First of all, what does “credit card processing fees” actually mean? There are several different rates and fees that make up your total processing cost. In this article I’ll explain the different aspects that contribute to the fees to give you a solid understanding of who’s charging what and which areas of cost you can …
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Often shortened from “interchange reimbursement fees,” interchange refers to a set of categories that are used to determine the rates for individual card transactions. Every category has requirements for eligibility and a rate associated. Those rates change at the card brands’ discretion, typically twice a year. Interchange can be a complex topic. For the purposes …
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Handling everything from customer checkout to employee punch-ins to inventory management and reporting, POS systems have streamlined operations for businesses of all sizes. So what would happen if your POS company goes out of business? Are you prepared for a quick migration? It’s a question many business owners don’t even think about, until it’s too …
Contingency Planning: If Your POS Company Goes Out of Business Read More »
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One of the most well-known Buy Now, Pay Later (BNPL) platforms is Afterpay, a service that allows your customers to pay for their purchases in installments. If you’re considering adding BNPL to your checkout options, this review will go over what you need to know about Afterpay, from how it works to costs and business …
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With consumers now regularly shopping on the internet, it’s more important than ever for businesses to be able to take credit cards online. Securely accepting payments on your website is convenient for customers, and could boost sales.
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If you’re curious whether your credit card machine can be reprogrammed, here’s the scoop: Some credit card machines can be reprogrammed to work with virtually any credit card processing service, while other machines will only work with a specific processor. But there are a few caveats, including what we mean by “processor.” Older credit card …
Can I Reprogram My Credit Card Machine For Different Processors? Read More »
