Zero is a Big Deal!

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Zero Cost Credit Card Processing Can Save You 3 to 4%! How can you legitimately pass the credit card processing fees off to the consumer and put that 3 to 4% back in your pocket? Here are the various ways: Raise your prices to cover the overhead cost of payment processing. Charge a “Surcharge” for Visa and MasterCard charges. A surcharge is regulated by Visa … Read More

Merchants Beware!

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Merchants Beware - The Threat of Online Skimming to Payment Security

The Threat of Online Skimming to Payment Security According to the PCI Security Standards Council, and the Retail and Hospitality Information Sharing and Analysis Center (ISAC), a growing threat that merchants and service providers need to be aware of is Web-based, or Online Skimming. What does this mean? ‘Skimming’ is a common method of stealing credit card information by using a small electronic device that … Read More

Value of “Service” in Merchant Services

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Every credit card processing salesperson says they have the best service, and a support line available 24/7/365! Here is the NON-SPIN version of that: You dial the 1-800-number for technical support to ask a question about your statement, or perhaps your credit card terminal has an error on the screen. Step 1: Please enter your merchant ID#. (Oh, you don’t have it and now you … Read More

How an Industrial Supply Company, or B2B Merchant, Can Save Money on Credit Card Processing!

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Industrial Supply Company, or B2B Merchant, can save money on credit card processing!

Recently a local supply company in Albuquerque called me because they said their credit card machine was not working and I came recommended to them.  After our initial meeting, I found out that there was nothing wrong with their credit card terminal. The issue was that the corporate office required them to enter transactions into a virtual terminal on the Internet, and it consumed 15 … Read More

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