Tailored Tips
Large 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.
» Read moreLevel 3 Payment Processing for B2B Businesses
Posted on: Thursday, February 28, 2019
If your business is selling products or services to other businesses (B2B), or government agencies (B2G), then the ideal solution is having your merchant account set up for Level 2 and Level 3 payment processing.
» Read moreHow To Safely Accept Credit Card Payments Over The Phone
Posted on: Friday, February 8, 2019
There may be times when a customer wants to purchase an item or service from you by giving their credit card information over the phone. Allowing for this type of card-not-present transaction provides the buyer with their preferred way to pay, which can definitely be a plus for your business. However, before you accept telephone payments, you should know the risks they come with as well as how to mitigate them.
» Read moreProtect Yourself From These 6 Credit Card Fraud Schemes
Posted on: Monday, January 28, 2019
The global impact of credit card fraud is enormous, with businesses and banks losing over $21 billion annually. That amount is just from debit and credit card abuse. You also have to factor in malware, data breaches and identity theft — all of which take a huge financial toll on society:
» Read morePayment Trends That Could Takeoff In 2019
Posted on: Tuesday, January 8, 2019
Not so long ago, business owners were grappling with the decision of whether to accept debit and credit cards at their stores. That concern seems virtually archaic now. That’s because technology is moving forward at such a fast pace that businesses have no choice but to adapt and evolve if they want to succeed. Devices such as the mobile phone, as well as other customizable innovations, are turning shopping into an individually tailored experience for shoppers.
» Read moreHow To Protect Your Business From Gift Card Fraud
Posted on: Monday, November 12, 2018
Detecting gift card fraud can be tough. Fortunately, there are a number of telltale signs that make catching criminals in the act a little easier. Note that some of these steps may result in higher costs for you the merchant. That means you’ll need to decide whether fighting gift card fraud is worth the effort. But in most cases, the pros far outweigh the cons.
» Read moreThe Benefits of Accepting Online Payments for Property Management Companies
Posted on: Monday, October 8, 2018
An online payment portal works very similar to a traditional e-commerce shopping cart — payees complete their monthly payment from the comfort of their PC browser or mobile phone via the customer payment portal. The primary advantages behind this approach are less cost and more convenience.
» Read moreUnderstanding Interchange Rates & Fees
Posted on: Monday, September 24, 2018
In short, interchange rates and fees are fees the issuing banks (a.k.a. the cardholder’s bank i.e. Chase, BOA, Barclay, etc.) charge merchants for the convenience of seemingly instant deposits. This "convenience fee" is designed to pay for the billing services, risk, and float costs the issuing banks incur while transferring money from the cardholders to the merchants. In other words, it’s the underlying cost you as the merchant have to pay for the “convenience” of accepting credit cards.
» Read moreCredit 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 more