Tailored Tips
Credit Card Surcharge Fees Explained
Posted on: Thursday, September 6, 2018
A surcharge is any fee added to a transaction to compensate for credit card processing fees. This definition doesn’t apply to all types of transactions — only credit card payments. This is different from a convenience fee that merchants use to charge for the medium of sale vs. the type of sale.
» Read moreBenefits of Level 3 Payment Processing
Posted on: Monday, August 13, 2018
In the simplest of terms, Level 3 payment processing is additional line-item detail (item descriptions, quantities, tax detail, etc.) that Visa and MasterCard like to receive on business credit card transactions along with the required standard transaction info (card #, exp. date, zip code.). In return for providing this additional transaction detail, both card brands offer significantly lower (.50% to 1.50% lower) interchange rates on eligible commercial card transactions.
» Read moreThe Difference Between Mobile Payments & Digital Wallets
Posted on: Monday, August 6, 2018
In 2018, a one size fits all approach does not work when it comes to making payments for goods and services. Of course, there are old-school methods like cash or checks as well as standard credit and debit cards, but today’s mobile friendly society is ushering in an entirely new era of payment solutions. With payment technology moving at a breakneck pace, it’s important to stop once in a while to review the newest trends and to understand how they work. Mobile payments and digital wallets are...
» Read moreTips For Better Understanding Your Processing Statement
Posted on: Monday, July 30, 2018
As a business owner, you likely know the importance of reviewing your credit card processing statement each month. However, taking the time to review your statements will not do you much good without the proper understanding of what you are looking at. When you review your credit card statements without effective practices in place, you run the risk of paying more than you should. If you understand how credit card processing statements are formatted and the different fees involved, you will...
» Read moreCredit Card Decline Reason Codes
Posted on: Monday, July 9, 2018
Declined credit cards are a common occurrence in any business environment, but it is especially common in retail or high-transaction volume businesses. Regardless of the point-of-sale system you are using, it should deliver a specific code number whenever a transaction is declined. But that won’t help give you the “why” without having the definitions to those codes. Having these decline code definitions on hand helps you provide better customer service by providing your customers with a more...
» Read moreTake Advantage of Level 3 Processing
Posted on: Thursday, June 28, 2018
Businesses that frequently sells to other companies or government agencies can greatly benefit from Level 3 processing.
» Read moreTips For Keeping Credit Cards Secure On Vacation
Posted on: Tuesday, June 26, 2018
Losing your debit or credit card normally isn’t that big of a deal. If one of your cards is lost, stolen or compromised, the card issuing bank will send you a replacement card within a few days. Most card issuers also provide fraud protection so you will not be personally liable for any unauthorized purchases that may occur before your lost or stolen card is closed.
» Read moreGetting Started With Credit Card Processing
Posted on: Tuesday, June 12, 2018
If you’re a new business looking into accepting credit card payments, the "where do I begin" question may seem a little daunting. Don’t let the fancy technology and all of the payment industry lingo overwhelm you. Once you understand these few essential concepts, you can begin accepting credit card payments with peace of mind knowing that you have the correct setup for your business.
» Read moreUnderstanding Visa's New Chargeback Rules
Posted on: Tuesday, May 29, 2018
In 2017, Visa began rolling out a new chargeback system designed to simplify the process. Known as Visa Claims Resolution (VCR), this new system places less emphasis on traditional litigation (i.e., back-and-forth disputes) and more emphasis on liability. The rules themselves are complex and you can read them here. Though one way in which VCR could help improve the system is through automation. Visa will use rules and workflows to screen chargebacks before they move onto the next stage....
» Read moreThe New Clover Station 2018
Posted on: Wednesday, May 9, 2018
The new Clover Station 2018 makes it easier than ever to streamline your business–its powerful system boasts enhanced features that help you get more done, so you can focus more on doing what you love. It's truly a complete All-In-One point of sale and payments system.
» Read more