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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.READ MORE
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.READ MORE
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.READ MORE
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.READ MORE
Read enough about PayJunction’s company culture, and it’s clear we prioritize long-term relationships over short-term profit. That’s not just a nice-sounding statement, it’s what we practice every day with our customers.READ MORE
The right credit card terminal will help you achieve lower rates and protect your business from fraud. It would be silly to opt against using one if you take in-person transactions, so the vast majority of business owners do.READ MORE