Over the past couple of weeks I have run into many merchants that feel ripped off by their merchant sales representative. Time and time again I hear “I just didn’t know what to ask for.”. Like with any other purchase for your business, it is important to learn about your product. Here is a list […]
Credit Card Processing
Merchant Accounts and the Payment Card Industry (PCI)
Merchant Accounts And PCI One would be hard pressed to find anyone in the United States or around the world that doesn’t have at least one credit card in their wallet. Whether you have one or ten credit cards, chances are you have used it to purchase something recently. I can only speak for myself, […]
What is an ISO and How Does It Affect Merchant Accounts?
All applications for a merchant account go through an underwriting process to gauge the level of risk for that particular business and business type. Some of these processors are directly affiliated with the member bank and in some cases owned by the member bank. All of these processors must be “registered” as an Independent Sales […]
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 […]
Understanding Merchant Account Fees and Their Terminology
Over the past couple of weeks I have run into many merchants that feel ripped off by their merchant sales representative with regards to their merchant account fees. Time and time again I hear “I just didn’t know what to ask for.” Like with any other purchase for your business, it is important to learn […]
Scalability: Building Your Business for Transactional Growth
When starting a business, most business owners hope to quickly grow. After all, more customers mean more revenue. But if you aren’t prepared, expanding could put your business at risk. Obviously, having enough inventory, staff and equipment is critical to expanding operations. One area that many merchants overlook is processing credit card transactions. You have […]
Rate Gauging on Consumer Credit Cards Gets the Boot
As if there is not enough controversy over Interchange Rates charged to merchants, we now have to deal with consumer credit cards interest rates increasing drastically without notice. Some consumer spending experts say this may hinder spending even more this holiday season. What is our government doing to fix the issue? Federal regulators jumped into action and […]
Visa Inc Pushes for Mobile Technology
Visa has always been on the cusp of technology and is always looking for new and innovative ways to expand their sphere of influence. Visa is launching four new programs that allow payments and services via mobile devices which will introduce the start of mobile technology in the payment processing industry. Two such programs are […]
The Red Flag Deadline is Approaching
Although Red Flag Rules were created to protect against identity theft, are some types of businesses more affected then others? In previous blogs I wrote about how merchants are not getting a fair shake when it comes to these rules, and many law suits have been filed against merchants. Different industries face government fines because they […]
New Innovations Are Keeping Credit Card Information Secure
In today’s economy, more and more people are turning to using credit cards. With this new onslaught of credit card users there comes a greater possibility of fraud. The payment card industry had made great progress in compliance and security. Visa and MasterCard are actively creating technology and guidelines to protect consumers and merchants alike […]