Credit Card Competition Act of 2022
If you're a small business owner, you're well aware of the costs involved to accept card payments from your customers. The majority of processing fees AKA interchange rates, goes to the bank who issued the card. Interchange rates are based on the type of card used,...
VISA Announces Surprising New Change
VISA recently announced a surprising new change that has caught many businesses and merchant service providers off guard. The announcement applies to merchants who add a fee when a card is used for payment. According to VISA, effective April 15, 2023 the maximum...
Lowering Interchange Costs with Level Two & Three Data
If your business accepts payments from the government or other businesses, you are paying the highest interchange rates in the industry. By capturing additional information, a virtual terminal can recognize if a transaction qualifies for a lower rate, and...
Code Changes for Gun Sellers
On September 9th, 2022 it was announced that an international standards body has approved creation of a merchant code for gun retailers. This came following pressure from activists who say it will help track suspicious weapons purchases. This will allow banks that...
Accepting Credit Cards – How to Prevent a Data Breach
If you're in business today chances are very good that you accept credit cards. After all, who doesn't? With the advances in technology, accepting payments is virtually limitless. Consumers expect to be able to pay with their plastic whenever they want. This presents...
April 2022 Card Brand Updates
Changes to the Visa Utility Fee Program Visa is modifying the existing US Utility interchange fee program to provide differentiated rates for recurring bill payment utility transactions from non-regulated Visa consumer and Visa Business Debit and prepaid Products....
Does Your Dental Practice Offer Payment Plans?
In recent years, reasons for not visiting the dentist has become more common among adults, for reasons that are less fear-based and more financial in nature. Of course we all want a bright, beautiful smile and healthy teeth, but the reality in the United States...
Cash Discount- Should Customers Pay For Using Plastic?
Picture this scenario: Every Friday, you go to your favorite pizza shop and spend exactly $20.00 for your favorite pizza. One week you arrive and the pizza now costs $20.70. The owner explains that the cost of doing business has increased over the years and adjusted...
PCI Compliance & Home Based Employees
Allowing employees to work from home has become more common, especially since the Covid-19 pandemic started in 2020. However, if your employees are processing billing payments from home, using a virtual terminal, how can your business ensure that these payments are...
Verifone VX520 End of Life
As of April 30, 2020 the Verifone VX520 is considered end of life in the credit card processing world. It's hard to believe that this machine, once considered the tank of the industry, will be obsolete in a few short months. I remember when these machines first came...