Click here to watch the video What is the difference between credit card and pin debit card transactions? Let’s start with credit cards. The credit is linked to the cardholder’s creditworthiness by the card issuing bank. The merchant is offering credit to their customers. If a card is declined at the point of sale, the creditworthiness is ZERO. Do not accept a declined credit card, … Read More
Beware Of This Merchant Telemarketing Scam!
Click here to watch the video Telemarketers try to scam merchants into switching their credit card processing by pretending to be their current merchant services provider. They use common words like, “This is your merchant services calling,” instead of mentioning the processor’s name. They tell whoppers on the phone to scare merchants into thinking they are paying too much. Another scare tactic is to frighten … Read More
Zero Fees with Pin Debit Processing for Dispensaries and FREE Terminal Offer!
Click here to watch the video PIN debit versus A.c.h. And cashless ATM. How do you know which payment solution is best for your cannabis dispensary? Hi, I’m Gingergaye, President of Electronic Monday Company. I’m going to start by talking about PIN debit a little bit. You have a credit card terminal which does only PIN debit, and the customer dips their card and enters … Read More
Save .75% On B2B Credit Card Processing!
Click here to watch the video B2B stands for business to business. Similarly, B2G stands for business to government. That is opposed to B2C which is business to consumer. In the world of credit card processing, B2B and B2G transactions are at higher risk. Why? Because there is more fraud when employees are tempted to use their business credit cards for personal items. The company … Read More
Difference Between Void & Return on a Credit Card Transaction!
Click here to watch the video Gingergaye here with Electronic Money Company. What is the difference between voiding a credit card transaction and refunding it? If the customer wants to return a product the same day they purchased it, then use the void process from your credit card processor. The ticket will not be batched to your bank. You are charged a transaction fee for … Read More
Get Invoices Paid Faster!
Click here to watch the video Merchants want to get paid fast. The old way of mailing out invoices and waiting for checks to arrive in the mail is becoming a way of the past. The new way to get paid fast is to email a client an invoice with a click-n-pay button. Clicking the button directs the customer to a hosted payment page on … Read More
Why is it important to have the correct time in your credit card terminal?
Click here to watch the video When you run a transaction in the credit card terminal, it sends a signal to get authorization and approval for the digital payment from the customer’s credit or debit card. It does not deposit the money into the merchant’s bank account until the merchant batches all of the transactions at the end of the day. Merchants can manually hit … Read More
Chargeback Prevention – How Merchants Can Prevent Credit Card Chargebacks | Avoid Chargebacks
Click here to watch the video Hi there! I’m going to give you some tips on how to prevent chargebacks, because nobody likes to get taken. Everybody thinks a credit card is just like cash. You swipe the card, you take it over the phone, it goes to your bank, everything’s hunky-dory, until all of a sudden it isn’t and somebody is taking advantage of … Read More
How To Speed Up Telephone Call Time To Your Credit Card Processor Tech Support!
Invariably, at some point, you have to call your 1-800 technical support number for your credit card terminal. It shouldn’t suck up an hour of your time but it can. And time is money, especially when your terminal is down, people can’t pay you and they start walking out the door! Below is a typical scenario which you want to avoid and below that are … Read More
Should Merchants Accept Pin Debit Cards?
It used to be cheaper to take pin debit cards via the debit networks instead of through the credit card interchange networks. That means that you would take the card and the customer would enter his pin number. The debit networks are Pulse, Maestro, Interline, Jeanie, NYCE, Star and others. But since the Dodd Frank Act, it is cheaper to take debit cards just … Read More