Tailored Tips
2019 Holiday Shopping Trends
Posted on: Tuesday, November 12, 2019
With holiday items already on display in many retail stores nationwide, it’s time to dive deeper into what this holiday season may bring in terms of consumer shopping trends to be better prepared and reap the rewards.
» Read moreSubstantially Reduce Card Processing Fees with Interchange Optimization
Posted on: Tuesday, October 29, 2019
Interchange optimization is making sure that the interchange fees that your business is paying as part of your overall credit card processing fees, is optimal for your type of business, and that you're avoiding downgrades and surcharges. The problem that many businesses incur with ensuring optimal interchange is that it can be confusing without the assistance from your merchant services provider, and unfortunately, most merchant services providers have no incentive to assist you.
» Read moreUtility Merchant Account Provides Huge Savings
Posted on: Tuesday, October 1, 2019
Visa, MasterCard, and Discover offer substantially reduced credit card processing rates to businesses that provide waste management and public utility services. These special low rates are called the utility interchange rates, and they can help to reduce your monthly card processing fees by up to 70%. In order to receive the utility interchange rates your business must be approved for a Utilities merchant account.
» Read moreWhat Is A Merchant ID?
Posted on: Friday, August 16, 2019
The payment processing ecosystem is complex. The instantaneous credit card transactions are built on an impressive number of mechanisms controlling them. Not only do these mechanisms need to be efficient, but they also need to be secure. Part of that boils down to the accuracy in which transactions, payments and refunds are routed between merchants, customers, issuing banks, and acquiring banks — and a crucial part of that system is built on the specificity of Merchant IDs.
» Read moreCredit Card Pre-Authorization Explained
Posted on: Wednesday, July 31, 2019
A pre-authorization is a temporary hold on funds in a customer’s account that lasts 3-5 days. Unlike an actual transaction, you aren’t moving any funds yet, it simply puts an official hold on those funds until the post-authorization comes through.
» Read moreShould You Still Be Accepting Checks?
Posted on: Thursday, July 11, 2019
According to historians, the first check was invented in ancient Rome, around 352 BC. It took a couple thousand years for the concept to really catch on, with checks enjoying their heyday during the 20th century.
» Read moreWill Facial Payment Tech Actually Work?
Posted on: Friday, May 31, 2019
Rather than entering a password, your smartphone recognizes you from a scan of your face that it took when you first used it. From there, many apps have integrated the facial recognition technology. Now, the idea of facial recognition technology is moving into the payments environment to increase security and convenience for consumers.
» Read moreMisconceptions In Credit Card Processing
Posted on: Monday, April 29, 2019
There are several common misconceptions in credit card processing that sales reps could potentially use to trick you into overpaying for their financial benefit. Below we detail the top four misconceptions that we have heard from our clients over the past few years.
» Read moreUnderstanding Your Rates and Fees
Posted on: Thursday, April 4, 2019
When discussing pricing with your merchant services provider, or when shopping around for better pricing, it's important to understand the differences in the rates and fees that you see listed on your monthly statement. Every credit card transaction has three cost components: interchange, assessments, and processor markup.
» Read moreLarge Ticket Credit Card Processing
Posted on: Tuesday, March 5, 2019
Often times B2B and B2G transactions are for high dollar amounts. With large ticket transactions, you will save more money with a lower percentage rate and a higher per-transaction fee because the per-transaction fee doesn’t flucuate like a percentage rate. Both Visa and MasterCard offer large ticket programs for high dollar transactions.
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