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ONTRAPORT Integrations: Affordable Payment Processing via PayJunction

ONTRAPORT Integrations: Affordable Payment Processing via PayJunction

As your business develops, it’s natural to add on an e-commerce component or a marketing team to grow your reach and brand awareness. Even as a curious business owner, you might be wondering who your ideal customer is, what your customer journey looks like and how interested buyers are finding your product or services. When your business reaches this apex, it’s wise to consider your options for marketing automation software. Marketing automation software can help you streamline your communication with prospects and customers, understand a customer’s lifetime value, determine where your advertising dollars are best spent and…

Everything You Need to Know About Virtual Terminals

Everything You Need to Know About Virtual Terminals

If you’re shopping around for a payment processing solution for your business, you may have come across the term “Virtual Terminal.” It sounds fancy enough, but how do you decide whether this web-based Payment Gateway is right for you? What Is a Virtual Terminal? As a business owner, you’re likely familiar with processing customer transactions using a credit card payment terminal. You swipe, enter or key in card details, and the terminal prints a paper receipt so you can record the transaction. It's the old-school, traditional way to process payments. At a surface level, a Virtual Terminal and…

How Montecito Plastic Surgery Collects Plastic Surgery Payments

How Montecito Plastic Surgery Collects Plastic Surgery Payments

Understandably, any business is most concerned with providing outstanding service. When it comes to managing the business — and the logistics that come with that — easy and effective solutions help business owners focus on what matters most. This is critical for all medical and health care services, where the patient must be the first priority. To help streamline daily close out and focus on providing optimal patient care, Montecito Plastic Surgery looked into new payment providers that offered benefits that both the practice and the patients would enjoy. A friend recommended Dr. Adam Lowenstein look into PayJunction, and the practice experienced…

Visa Increasing Fixed Acquirer Network Fee (FANF) Rates

Visa Increasing Fixed Acquirer Network Fee (FANF) Rates

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. The incentive was simple: the more transactions routed to Visa, the lower the cost per transaction. Overall, Visa's acquirer fees would be reduced in aggregate. Let’s go over how a FANF fee is assessed. How Visa Determines the Fixed Acquirer Network Fee Not every business will pay the same amount for the FANF fee, and calculating…

New Visa Transaction Integrity Fee in 2018

New Visa Transaction Integrity Fee in 2018

A new Visa transaction integrity fee will be charged starting April 14, 2018, on any credit transaction that does not meet the custom payment service (CPS) qualification standards. Visa, MasterCard, Discover and Amex update their Interchange guidelines biannually in April and October. This fee will be $0.10 per transaction. So, what are the CPS qualification standards, and how can you expect this fee to impact your monthly merchant statements? Visa Transaction Integrity Fee on Non-CPS Transactions As part of Visa’s Interchange guide, the CPS program allows certain low-risk transactions to qualify for a lower processing rate. To qualify,…