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Merchant Statements
Proper regulation of credit card processing is incredibly important, especially as the process of accepting credit card payments requires sensitive customer data that is often under attack from malicious parties. This data needs to be carefully protected, which is why credit card processing companies, including Acquirers, Merchant Service Providers, Payment Gateways, and Payment Facilitators are all regulated by a variety of credit card governing bodies.
READ MOREIn the payment processing industry there is a lot of payment jargon used interchangeably, and sometimes done so incorrectly. As a business owner processing credit cards, it is important you know what these terms mean so you use them correctly if a customer asks.
READ MOREIn June 2024, a prominent software-as-a-service (SaaS) solution provider for automotive dealerships faced two severe cyber attacks. These incidents disrupted operations for approximately 15,000 car dealerships that rely on the solution for various operations, including sales, customer relationship management (CRM), back office administration, billing, financing, inventory management, service, and support.
READ MORELarge, multi-location auto dealerships operate complex business hierarchies, with headquarters overseeing multiple automotive brands, locations, departments, and staffing roles. This operating model presents unique challenges with accepting, managing, and analyzing payment activity. Typically, each location has dedicated merchant services and bank accounts.
READ MOREThe healthcare insurance industry’s embrace of High-Deductible Health Plans (HDHPs) means an increasing number of patients are responsible for paying for most medical services before plan benefits fully kick in. Your medical practice should consider recurring billing to lessen the upfront financial burden on patients.
READ MOREMedical payments are confusing: Explanation of Benefits (EOB) statements, co-pays, prescription coverage, Medicare plans, separate bills for doctors vs. labs, HDHP, HSA, FSA. The list goes on. It’s no wonder that recent surveys found nearly 40% of Americans are confused by medical bills.
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