Credit Card Processing

5 Benefits of Credit Card Processing Integrated with Your POS System

All of these are important questions to ask. At a certain point, you may face a choice: Do I invest in a stand-alone system that works with other processors or an all-in-one platform that has credit card processing integrated within? We want to help make that choice as easy as possible, so here’s some info…

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When you’re evaluating POS systems, credit card processing is a big factor to consider. Does the point of sale system only work with a specific processor? What are the rates and fees, and are they transparent? Is it flat rate, tiered, or interchange plus pricing, and what is the difference? Most of all, how will credit card processing fees affect my bottom line?

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Credit Card Processing, ecommerce

Authorize.Net Credit Card Processing Fees – Get It Elsewhere

Authorize.net is a great gateway provider, but it’s not a credit card processor. It actually farms out its credit card processing to its parent company, CyberSource. It also charges higher fees for its gateway than some of its resellers. That means you can use Authorize, but get it (at lower prices!) through one of its…

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It sounds counter-intuitive, but a savvy business person can get the most competitive pricing for the Authorize.net gateway while paying as little as possible in credit card processing fees by not getting either service through Authorize.net.

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Credit Card Processing, Legal

Tennessee’s Credit Card Processing Fee Disclosure Law

Information provided in this article is for reference only. If you need legal advice regarding processor contracts or Tennessee’s law, consult an attorney. What is an effective rate? What’s good about Tennessee’s new law? What’s bad about the law? Why don’t bank-owned processors have to disclose the effective rate? What happens if a processor doesn’t…

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Effective March 1, 2016, Tennessee became the first state in the nation to pass a law about processing fee disclosures. The law (SB0316) requires that merchant service providers not owned by a bank calculate and list the effective rate for credit card processing on each monthly statement. What does this mean for Tennessee businesses and are businesses in other states affected?

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Case Studies, Credit Card Processing

[Case Study] The Grass Isn’t Greener: Business Owner Returns to CardFellow

Martin, a small business owner in Massachusetts, was concerned about what the EMV chip card liability shift meant for his business. As he looked into it, he was met with lots of conflicting information, and was left thinking he needed to upgrade his processing equipment almost immediately or he’d face high costs or missed sales….

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From CardFellow client to former client to current client again, one small business owner found that processing solutions available on the open market couldn’t compare to the solution he had through CardFellow.

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Credit Card Processing, Legal

Early Termination Fees: Canceling Your Merchant Processing Agreement

In this article, attorney Nate Baber from Aeton Law Partners, LLP explains exactly what to look for in your merchant contract and what to know before you cancel. First Things First: Personal Guaranty Where to Look for a Personal Guaranty Types of Termination Fees Flat Fee Liquidated Damages How to Avoid Paying a Cancellation Fee Can’t…

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At some point in business ownership, you’ll probably find yourself needing to cancel your merchant account for credit card processing. When you do, will you be stuck with cancellation fees? Can you be personally held responsible for ongoing costs, like chargebacks that occur after cancellation?

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Credit Card Processing

Visa CPS (Custom Payment Service) & Your Processing Fees

In order to understand CPS, you need to understand the fundamentals of interchange and interchange qualification. I’ll briefly cover them in this article. If you’re interested in learning more, which I encourage, check out related articles on the topics of interchange and processor pricing models on CardFellow’s blog. What is Visa CPS (Custom Payment Service)?…

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CPS is an acronym associated with Visa’s interchange categories that stands for Custom Payment Service.

In a nutshell, Visa’s CPS allows a business to qualify transactions to an interchange category with a lower rate by following a set of rules.

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Credit Card Processing, Specialty Businesses

Credit Card Processing for Gun Dealers

But with guns being a big ticket item, giving customers the option to pay by credit card is important. So how do you find gun-friendly credit card processing? If you’re a gun dealer, here’s what you need to know about finding the right processor to support your business. Taking Credit Cards: The Basics What’s Different…

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Gun dealers often face different challenges than other businesses, and that’s true when it comes to taking credit cards as well. Since selling firearms is considered a “high risk” business, some credit card processors don’t offer services to gun dealers.

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Credit Card Processing

3 Ways to Tell if You’re Paying Too Much for Credit Card Processing

You Have Non-Qualified Rates You’re Using Square or PayPal You Chose a Processor from a Top Ten Processors Type of List I think I’m overpaying. How do I pay less for credit card processing? You have Non-Qualified Rates Check your statements. Do you see the word “non-qualified” or any variation? (NQUAL, nonqual, etc.) If so,…

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Credit card processing is a confusing and frustrating part of business. Have you ever looked at your billing statement and thought you’re paying too much for credit card processing but couldn’t be sure? Or maybe a pushy sales person stops by and promises to save you tons of money, and you’re wondering if you’re really overpaying. Here are 3 quick ways to determine if you’re paying too much and how to lower your costs to take credit cards.

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