Interchange Padding – A Dirty Trick You Should Know About
I was reviewing a processing statement for a merchant recently and noticed something strange. This merchant was on wholesale / interchange pass through pricing, so the wholesale costs were listed. With this type of pricing, the merchant is supposed to pay the...
Major ISO to End Non-Cash Adjustment Program
A major ISO (Independent Sales Organization) recently announced they would be discontinuing their Non-Cash Adjustment program in October of 2023. Clearent by Xplore, a St Louis, MO payment processing company, said they would be discontinuing the program and...
Dealing With Third Party Processing Fees
If you are using software or a point of sale system to accept credit card payments, you are probably familiar with third party fees. These fees, often referred to as SaaS fees (Software as a Service) are billed to your business by the software provider. But do the...
Reading Your Processing Statements – Why Bother?
When it comes to understanding rates & fees to accept credit cards, I can tell you that most business owners are in the dark. No one has ever taken the time to explain what the different charges and deductions mean. There's nothing more frustrating than a random...
Are You Paying a PCI Non-Compliance Fee?
Dealing with PCI compliance is one of the top complaints I hear from business owners. The process can be very complex, and often, there is no none to help you. To make things worse, if you do not complete it properly you will most likely be charged a PCI...
Tax Consequences of Eliminating Card Processing Fees
With card processing fees continuing to rise, no cost processing is continuing to gain popularity with businesses. By utilizing cash discounting or dual pricing, the savings can be substantial. In March of 2023, we helped a custom apparel company in Buffalo, NY save...
Protecting Your Business From Credit Card Fraud
As a small business owner, you often wear many hats. It’s easy to get caught up in the day-to-day activities involved with running your business, and overlook important tasks. Having a plan & policy to protect your business from credit card fraud is often...
Chargebacks Can Hurt Your Business – Learn What You Can Do
Chargebacks are increasing for all types of merchants. While it’s impossible to avoid them entirely, there are simple steps you can take to reduce the number of chargebacks your business receives. What Is a Chargeback? A chargeback occurs when a cardholder reaches out...
Is Your Cash Discount Program Compliant?
It was Thursday, March 30, 2023. I was sitting in a conference center at The Westin Boston Seaport District Hotel for the Northeast Merchant Acquirers conference. On stage, the speaker Jeff Fortney of Strawhecker Consulting Group, was...
PCI Compliance – What is The Purpose?
If your business accepts credit cards, then you have probably heard about PCI compliance. Chances are that you may have been frustrated with it as well. Most merchants who I talk with are confused about the process and find it very...