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There are a number of payment providers that enable you to accept credit cards. Whether you interact with them directly or not, there are a handful of fees you have to pay for the privilege of accepting plastic.READ MORE
As a business owner, you need to make a profit from the goods and services you provide in order to stay in business. This is why fees, especially for the privilege of simply accepting credit cards, can be so frustrating.READ MORE
When a customer visits your business and pays with a credit card, it’s fairly easy to confirm the legitimacy of the purchase. A diligent cashier could ask to see photo ID to confirm that the person in front of her is, in fact, the cardholder. The name and face should match.READ MORE
Every industry has its jargon, and credit card processing is no different. You are probably familiar with more-common terms just from bumping elbows with folks in the industry. These include Interchange, EIRF, downgrade and tiered. However, there are others that are used less frequently and are purposefully deceptive, such as settlement funding, padded dues and assessments, breach coverage security, etc.READ MORE
When people think about credit card processing, they likely think of waiting for their transaction to process or their Merchant Service Provider, depending on which side of the transaction they inhabit. But there are a number of middlemen involved in credit card processing, and even businesses don’t necessarily interact directly with each one of them.READ MORE
Right now, if you’re using the Secure Sockets Layer (SSL) or Transport Layer Security (TLS) 1.0 protocols, you’re at risk for a data breach. A number of vulnerabilities have been found in this early encryption protocol, causing the card brands to require a security upgrade in order for businesses to meet the Payment Card Industry Data Security Standards (PCI DSS) moving forward.READ MORE