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How Billback Rate Plans Mislead Business Owners
There are a few payment processing rate plans you can choose from, which vary depending on who you decide to work with. In the unfortunate event you work with an unethical Merchant Account Provider, you may end up on Billback or worse, Enhanced Billback.
Ursula Librizzi
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What Is MOTO Credit Card Processing?
MOTO stands for Mail Order/Telephone Order and is a credit card processing pricing setup on a Tiered plan. MOTO credit card processing is best suited for businesses that primarily accept card-not-present transactions: Examples include e-commerce and delivery-based businesses. In contrast, Retail pricing is appropriate when the majority of transactions occur in-person.
Christina Lavingia
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What Is Level 3 Processing and How It Optimizes Transaction Costs
Many large corporations and government agencies provide their employees with commercial credit cards to make purchases or pay invoices, which allows buyers to better track spending across their organization.
PayJunction Team
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Three Types of EMV Non-Compliance Fees to Avoid
EMV or “chip” cards have become the US industry standard for credit and debit transactions made in-person at a business. There are now more than 1 billion EMV cards in circulation in the US, and in 2020, 73% of card-present transactions involved an EMV card being read by an EMV-capable terminal, up from just over half two years earlier. As a result, in-person fraud rates for counterfeit cards have plunged. According to a May 2019 report from Visa, merchants that accepted EMV chip-enabled cards saw a 76% drop in card-present fraudulent fraud.
Ursula Librizzi
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Interchange Downgrades: What They Are and How to Avoid Them
Many Merchant Account Providers charge unnecessary fees or have unfair contract terms and conditions, as reported in our unethical practices blog series. Some providers take it a step further by failing to educate business owners about how to qualify for the best transaction rates, which unfortunately results in “Interchange downgrades” that can really add up. Worse yet, some providers make so much money from these downgrades that they hide them in confusing line-item details on statements.
Ursula Librizzi
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Spotting Padded Interchange in Your Merchant Statements
Unfortunately, many Merchant Account Providers practice unethical billing and lie about the fees they charge you. Billing statements are intentionally complex to keep customers from finding hidden fees.
Ursula Librizzi
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