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Tailored Tips

What Is EMV & How Does It Effect My Business?

If you have received a new credit or debit card recently, it probably looks a little different. For the past 18 months, all newly issued cards are coming equipped with something called EMV technology, which stands for “Europay, MasterCard, and Visa.” Translation: they contain a super-small computer chip that’s extremely hard to counterfeit or duplicate.

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4 Reasons Why A Merchant Account Is Better Than PayPal

Merchant accounts have several distinct advantages over PayPal accounts. Here are four important reasons why your business should choose using a merchant account over PayPal. Next Day Funding We will setup your merchant account with Next Day Funding. This means that all of the money that your business is paid today through credit card transactions, will be fully available in your bank account tomorrow morning. There are no delays or waiting multiple days for your money to be deposited.

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Beware of Teaser Rates

When your business goes shopping for a new credit card processor, there are a few key factors that you should strongly consider, including the type of credit card processing your business needs (Retail, MO/TO, Mobile or Internet), the reputation and reliability of the processor, the level of customer support they offer, and of course... COST. On that last point, Tailored Transactions has some advice for businesses when it comes to evaluating credit card processing rates and fees: Beware of the...

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Level 3 Processing

Add 1% to your bottom line without increasing your sales volume! If your company accepts business, purchasing and government credit card payments, then your merchant account requires a specialized setup that differs from a standard retail or MO/TO merchant account. What your business needs is a B2B merchant account that is setup for Level 3 Processing.

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Credit Card Processing Fees

When your business sets up a merchant account and begins accepting credit card payments, you can expect to pay certain fees. Understanding the different types of fees that are commonly charged will better positioned your business to negotiate lower pricing and dispute any unnecessary charges. The following list is a breakdown of the most common credit card processing fees in our industry:

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How To Avoid Chargebacks

For those who might not know what a Chargeback is, here is the basic definition: A Chargeback is the reversal of a prior outbound transfer of funds from a consumer's bank account or credit card. This reversal is done after an investigation by the issuing bank has taken place, and the issuing bank deems the retailer in question to be negligent for not having supplied the goods or services paid for in a timely manner. Here are some helpful tips that your business can use to avoid chargebacks:

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Common Terminology in Credit Card Processing

Adjustments The amounts credited to, or deducted from, your account to resolve processing and billing discrepancies. Chargebacks / Reversals Those transactions that are challenged or disputed by a cardholder or card-issuing bank. A Chargeback equals the transaction amount that is disputed by the cardholder or card-issuing bank. A Reversal is the amount that initially resolved against the merchant, but has subsequently been resolved in favor of the merchant.

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What Is Apple Pay?

Since its launch back in September 2014, Apple Pay has been quickly gaining traction as a mobile payment service among consumers nationwide. Because of its popularity, retailers have been rapidly switching over to contactless point-of-sale terminals, and a majority of retail businesses will be able to accept Apple Pay before the end of 2016. Along with its sudden rise has come many questions about what Apple Pay is. So this blog post will address some of the most common questions that we have...

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The Benefits of American Express OptBlue

The number one complaint that business owners have had in regards to accepting American Express payments has been the substantially higher processing rates and fees that American Express charges. Up until recently, these complaints have been more than justified, but the problem was that there was not a solution to correct this issue.

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Top Hidden Fees of Credit Card Processing Pt. 1

Credit card processing can become expensive for your business when your merchant account is not setup correctly. Have you ever looked at your credit card processing statement and noticed “Mid-Qualified” or “Non-Qualified” transactions with a much higher rate than what you originally thought you were paying? That is one of the most common hidden fees that many merchant services providers use to pad their pockets at your expense. Use this article to determine if your business is overpaying in...

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