Real solutions to streamline your business.
Featured Resource: Assess Your
Merchant Statements
Tax season is one of the most stressful times of year for businesses. The new year comes and goes and, before you know it, it’s April and your taxes are due. Depending on your business structure, filing taxes can take more work. Accepting credit cards? You guessed it, things get a little more complicated.
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Imagine this: You’re in the middle of reconciling your business’s bank account after closing last month’s sales and you panic. It’s the third time you’ve ran through the numbers and something just isn’t adding up. You’re missing money.
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As a whole, the auto industry faces tough scrutiny for compliance. As payment experts, we want to ensure you know of the payment-related dealership laws your dealership should be aware of.
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Not all businesses are the same. While some fulfill a transaction exchange at the moment of purchase, others may take days to provide the product or service purchased. In this case, a credit card authorization would ensure that the customer has the funds before you provide your end of the transaction.
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Running your business efficiently may mean using multiple providers to satisfy all your needs. This could include client or inventory-management software, an e-commerce hosting platform and a Merchant Account Provider to process in-person and online payments.
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Visa imposed a monthly fee in July 2012 called the fixed acquirer network fee (FANF) to incentivize businesses to route transactions to Visa. This implementation was a direct result of the Durbin Amendment, and was intended to level the competitive landscape for Visa.
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