A New Frontier for Merchants to Market and Capture Payments

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Payment Processing will be moving to the dashboard of your car. People spend on average 30 minutes driving or riding to and from work. Commerce is already conducted from people’s phones within their car while they are commuting to work. There is a huge market waiting to emerge, allowing payment processing from the car dashboard. Not only will we be using GPS from the screen … Read More

No Rate or Fee Increase

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The way the game is played: A processor starts talking to a merchant about lower rates. They sign them up with an “introductory” low rate but forget to tell the merchant it is only introductory. Or they lie about their comparison analysis of rates and take advantage of the trusting merchant who does not know how to read a merchant statement, nor does he want … Read More

The 1-800-IGNORE-ME Tech Support Story! – NOT with Electronic Money Company

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Have you experienced this tech support situation? Now you have to start all over yet again dialing the tech support at 1-800-IGNORE-ME! We have our own in house client service and support. We know our client’s by name and they know us by name. We know their merchant ID # and their model of equipment. We already are level 3 support! We build relationships with … Read More

How do daylight savings time changes affect my terminal?

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Whenever there is a time change, it is prudent to change the time in your terminal. Why? First of all, the time is stamped onto each receipt. If there are any questions about a transaction, the time could be a factor in troubleshooting. Second and most importantly, if you are on autobatch, in other words the machine batches itself out at the end of your … Read More

April Rate Increases 2018 – The Real Story!

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Every spring and every fall the association of banks get together to decide if they need to raise any credit card interchange rates or fees. You know the answer to that. It is always a resounding YES!   99% of all card processors get all their salivating executives together to decide how much to bump up the real increase to their merchants so they can … Read More

To Decline AVS Mismatches or NOT?

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Do you ever wonder if it is a good idea or not to decline cards online which do not have an address match? The question is if you decline the card, will you miss real business. Or will you save yourself money reducing chargebacks? Well one of our customers has shared the data from their company. They do inflatable party rentals. We changed to require … Read More

Daily Discount Nightmare Compared to Monthly Discount!

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Most merchants get charged all their credit card processing fees at the first of the month following the month when the transactions took place. Credit Card deposits each day match their cash register daily credit card deposit summary. At the end of the month the deposits on their merchant account monthly statement match exactly their bank statement. This is called Monthly Discount. Sometimes a merchant … Read More

Fees on Refunds

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When a merchant runs a transaction, the amount is assessed a rate and a transaction fee. Generally the rate is an assessment of risk and the transaction fee is a cost for accessing the digital network. When the merchant refunds a transaction, only a transaction fee is charged. The rate is not charged a second time because there is no risk of default, but the … Read More