Credit Card Processing/ Merchant Services

About Chargebacks I know that as a merchant, when the money keeps coming into your bank account from credit card transactions, you think that credit card payments are just like cash payments.  If it looks like a duck and quacks like a duck, you think it is a duck.  But NO.  Credit card payments are not just like cash! Taking credit cards for payment is … Read More

Is Customer Service an Important Factor in Comparing Processors? Every merchant services salesperson out there tells their prospects that they have excellent customer service. They might try to sell short wait times on the phone or the fact that their customer service is 24/7/365, but always they are selling that theirs is the best. So customer service does not at first seem like a differentiator … Read More

It is advantageous for merchants to understand how consumers prefer to pay to products and services.  Here is a chart from the Federal Reserve Payment Study done in 2016.  Following is an analysis of payment processing and shopping trends. Debit cards are mostly used for small ticket purchases like fast food, gas and groceries.  In fact, one third of all debit transactions have an average ... Read More

Discussion of the Purpose Behind the Questions on the PCI Compliance Survey The PCI survey questions include queries about whether the business has written procedures in place for employees regarding the protection of credit card numbers. For example, an easy question to answer might be whether the company writes down or stores their customer’s credit card numbers. That answer should be a resounding NO. If … Read More

Is There a Value to Being PCI Compliant OR Is it Just Another Way for Card Processing Companies to Make Extra Money? I recently met a woman, named Merissa, from Big Byte, a company that does data storage, IT for large businesses and disaster recovery. Merissa and I talked a lot of about PCI. Yes, they know companies who have been hacked. She told me … Read More

Here is how we, at Electronic Money Company, work differently from ALL the other credit card processors out there. Here is how we ease the confusion and pain of merchant services from the beginning through the life of your business. We are honest up front when we do a comparison analysis of your merchant statement. We do not leave any information out of the comparison, … Read More

How Do I Decide if I Should Choose Square or Get My Own Merchant Account from a Merchant Services Provider? Price Consideration: Square is set up for the small volume merchant.  Square does not have a monthly fee or transaction fee; only a rate of 2.75%.  Let’s compare this pricing to a typical merchant processor charging $10 per month plus 1.89% + $.20 per transaction.  … Read More