How Are Your Card Processing Fees Assessed?

Interchange fee” is a term used in the payment card industry to describe a fee that a merchant’s bank (the “acquiring bank”) pays a customer’s bank (the “issuing bank”) when merchants accept cards using card networks, such as Visa and MasterCard, for purchases. Although Visa and MasterCard determine Interchange rates, the fees are not retained […]

What are Non-Qualified Transactions and How Can Merchants Avoid Them

Non-Qualified:  I frequently get calls from merchants who say they were quoted one rate, but claim different rates are showing up on their statements. Unfortunately, merchants can experience a rate increase or surcharge because of the type of card your customers are using, such as sky miles cards and rewards cards. Another cause of increased […]

What is PCI DSS?

Many merchants ask me this question and want to know how it will affect their business.  The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements developed by the major credit card companies to enhance credit card data security. These requirements only apply to e-commerce merchants or merchants that are using […]

What Hidden Merchant Account Fees Should You Watch Out For?

We all frequently read about various types of scams to look out for, warnings of Packet Sniffing, and stolen card numbers. The real scams to look for are the ones that are directly on your merchant account application. Merchant Account Fees seem to suddenly pop up after you have signed your agreement. One of the […]

Visa and MasterCard Make Their Money on PIN-based Debit Transactions

In previous posts I have talked about Visa and MasterCard turning to Debit and prepaid cards to re-coop money lost on defaulted credit cards. PIN-based debit transactions type of cards used to be the cheapest form of electronic payment a merchant could accept – that seems to be changing these days. It is estimated that PIN-based debit […]

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