Tailored Tips
Beware of Teaser Rates
Posted on: Thursday, April 28, 2016
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...
» Read moreLevel 3 Processing
Posted on: Tuesday, April 12, 2016
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.
» Read moreCredit Card Processing Fees
Posted on: Monday, April 11, 2016
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:
» Read moreHow To Avoid Chargebacks
Posted on: Friday, April 8, 2016
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:
» Read moreCommon Terminology in Credit Card Processing
Posted on: Thursday, March 17, 2016
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.
» Read moreWhat Is Apple Pay?
Posted on: Monday, March 14, 2016
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...
» Read moreThe Benefits of American Express OptBlue
Posted on: Thursday, March 10, 2016
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.
» Read moreTop Hidden Fees of Credit Card Processing Pt. 1
Posted on: Wednesday, March 9, 2016
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...
» Read moreAnnouncing Our New Website!
Posted on: Friday, January 1, 2016
Tailored Transactions is pleased to announce that their new website is now live on the web at www.tailoredtransactions.com. The new website, developed by LeftBrain Website Design, was designed with an emphasis on regularly updated content, useful information and features, and a more user-friendly interface.
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