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Anyone who has researched credit card processing rates will probably tell you different iterations of the same story, all of which can be summed up to this: it is a frustrating chasm of mystery that will lead you to far more questions than answers.READ MORE
Credit card Interchange is the wholesale cost to process a credit card transaction and is typically comprised of a percentage of the transaction plus a fixed dollar amount (e.g., 0.5% + $0.10). The cost directly relates to the level of risk or reward associated with the transaction. For example, a business rewards card will have a higher Interchange cost than a debit card.READ MORE
When a business is considering taking credit card payments, there are several questions that should be answered before they select a partner, including the following:READ MORE
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