PayPal vs Your Own Merchant Account

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PayPal vs Your Own Merchant Account

If you own a business, your customers must be able to pay for your goods or services using credit cards. To enable you to accept credit cards, you will need a merchant account, or you can opt to use a third-party processing service such as PayPal. PayPal is what is called aggregate processor, which means they lump all their merchants into one merchant account. One … Read More

Liquidated Damages

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Liquidated Damages

Liquidated Damages in a Credit Card Processing Agreement The Most Costly of Termination Fees Period! When you choose a credit card processor, you will be asked to sign a merchant services agreement that includes a commitment of between three and five years. In some cases, breaking a merchant services agreement early will simply result in a termination fee. But beware of credit card processing providers … Read More

Attention Roofers! Here’s How to Choose a Credit Card Processor for Your Roofing Business!

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Get a merchant account - Roofing business

Some roofers choose not to take credit cards for their roofing jobs, and want everyone to pay with a check. However, not everyone has enough cash in their checking account to cover the roofing job.  If you don’t take credit cards, you can lose business to a roofer who does take cards. Secondarily, taking credit cards offers a trust factor for your customers. They know … Read More

Visa Announces New Rules for Merchants Accepting Credit Card Refunds

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Visa Announces New Rules for Merchants Accepting Credit Card Refunds

Visa is introducing an authorization requirement for return (cardholder refund) transactions. Authorizing a return enables the card issuer to validate the cardholder account, decline potentially fraudulent cards, and minimize chargebacks if the account does not exist or is closed. The return authorization message is intended to improve the return process by enabling cardholders to view a credit/return on their online banking statement in real time, … Read More

The Many Ways to Pass Processing Fees onto Consumers

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The Many Ways to Pass Processing Fees onto Consumers

A merchant sued Visa and MasterCard for the unfairness of taking on the credit card processing fees. They won with some qualifications. They can’t pass fees back to consumers for debit cards, only credit cards. As a result, many processors have programs to automatically add a surcharge fee onto a credit card transaction. But the merchants are getting pushback from consumers. Here is a discussion … Read More

What You Need to Know About QuickBooks Integration

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QuickBooks Integration

Can I Connect a New Credit Card Processor with QuickBooks? Can I Execute Payment Processing in QuickBooks with my Own Processor? The answer to both is YES! Many merchants think they have to use QuickBooks’ merchant services processing in order to integrate their credit card payments within QuickBooks. But that is not true. QuickBooks, developed and marketed by Intuit, opened up their software for API … Read More

Surcharging!

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Surcharging

Merchants have been complaining about credit card processing fees since the beginning of credit cards. The fees were initiated in the first place to replace the fees banks collected on loans.  Consumers who don’t have enough cash were in effect passing on their interest fees on loans to the merchants.  But merchants took on those fees because sales were lost if they didn’t.  Consumers can … Read More

Does Your Credit Card Processor Remind You of a Bad Date?

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Does Your Credit Card Processor Remind You of a Bad Date?

Did the Salesperson Promise You the World, But After the Fact You Are Treated Like 1-800-IGNORE-ME? Did you get the low rates you were promised? Did they stay low or creep up over time? What about service? Credit card processing tends to click along like clockwork until it doesn’t. Are you getting the support you need? Recently, the US experienced a crash of Verifone VX520 … Read More

Nightmare Merchant Problem!

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Nightmare Merchant Problem

Let me tell a true nightmare story which happened recently to one of our merchants.  I will tell you how we fought like the 3rd monkey trying to get on Noah’s Arc in order to find the solution and fix the nightmare problem.  Then you will have a better understanding of how Electronic Money Company is uniquely different from all the other credit card processing … Read More

Problem – Solution for High Processing Rates on Business, Corporate, and Purchasing Cards!

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Solution for High Processing Rates on Business, Corporate, and Purchasing Cards

Problem: How do I stop paying such high rates for corporate and business cards? Solution: Stop paying 3% to 4% or HIGHER for Level 2, 3 & 4 corporate, business and purchasing cards! Save 1% or MORE to your bottom line! Here is how! Purchasing Cards (“P” Cards), corporate cards and Business cards are company credit cards which government entities, plus large and medium sized … Read More