Electronic Money Company

505-296-2847 | A+ BBB Rating

Credit Card Processing/ Merchant Services

The Coronavirus Aid, Relief and Economic Security (CARES) Act for Small Businesses

Electronic Money Company is a small business, and all our clients are small businesses. So we thought we would share with you the information on how to take advantage of the government’s CARES ACT to help you cover payroll during this time of economic shutdown. In particular, here is information on how you can benefit from the Paycheck Protection Program. It provides 100% federally guaranteed

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Recent Questions Answered Regarding Credit Card Processing Fees on Refunds

In light of the COVID-19 pandemic, we have been receiving a lot of calls on this subject. First and foremost, there should be no fees on the refund. If your processor is charging the percentage rate for refunds, consider a new processor. Some have asked about getting a refund on the fees from the original credit card transaction. So, I thought I would give you

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Advice on Growing Your Business While You Prevent the Spread of Coronavirus!

Paper money carries germs. How many people have touched that $1 bill that you just received as change? Using your credit or debit card limits touches to non-sterile paper money and limits exposures to viruses, especially the Coronavirus, which lives on inanimate objects for up to five days. Here are some small ways that merchants and consumers can use best practices to help prevent the

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Protect Your Business Against Payment Processing Fraud!

Payment processing fraud is erupting! According to a San Francisco digital trust and safety company, Sift, there was a 73% surge in online fraud in 2019. And most believe there is even more to come in 2020. Massive amounts of people are seeing their credit card and banking information exposed to massive data breaches day after day. Although Internet theft remains most prevalent, hackers and

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CBD Merchants and Credit Card Processing!

Selling CBD is legal, so why is it so difficult to get set up for credit card processing? The answer is because Visa and MasterCard do not want to process credit cards for CBD small businesses because there are a lot of chargebacks and they consider it very high risk. So what are you to do if you are selling CBD? There are legitimate processors

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Culture of Trust Vs. Hidden Fees and 1-800-IGNORE-ME Tech Support!

I heard a talk last week from Ron Farmer, CEO of Fullsteam, a group of leading software and payments businesses across the United States focused on providing streamlined payments infrastructure and operational support to its subsidiaries. He spoke about the culture of trust and how that culture grows a business. He shared information from a book called, “The Speed of Trust,” by Stephen Covey, and

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Protect Your Ecommerce Business and Your Customers’ Credit Card Info with Tokenization!

In today’s world of credit card fraud and data breaches, a merchant who has an Ecommerce site has to be doubly careful. More credit card refunds and fraud take place from Ecommerce transactions on websites than on card-present transactions inside a brick and mortar location. That is why the processing rate is higher for Ecommerce transactions than swiped transactions, because the risk of fraud and

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Understanding the Risk of Taking Credit Card Payments as Deposits!

One of my merchants, Sarah, has a tour company. She books tour events months in advance. She needs to reserve buses, restaurants, and hotels months in advance. She has cancellation penalties on those reservations. Her spots are limited on the tour as well, so if someone cancels at the last minute and she doesn’t refill the spot, she loses income. Sarah had a problem with

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Wawa Data Breach Part of ‘Concerning’ Industry Trend

We, at Electronic Money Company, wanted to share this very important article written by Jaclyn Jaeger, Editor with ComplianceWeek.com. We have highlighted a paragraph regarding risk mitigation measures. Unlike many processors, Electronic Money Company protects your business with point-to-point encryption terminals and tokenization for Ecommerce and mobile merchants to prevent hackers from getting at your card holders’ data. We highly recommend PCI compliance, plus we

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