Payment Processing Moves From Terminals Into Tablets! As technology changes the world around us, so it changes how we process credit card transactions. When we first got in this business 20 years ago, the big news was pin debit. Then e-commerce gateways were introduced followed by mobile payment processing. Terminals were always in big demand until recently, when card processing got moved inside an app
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
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
Watch Out for This FRAUDULENT Credit Card Transaction SCAM! I just heard from one of my customers who got an email and text from someone who wanted to use their credit card for a HUGE SALE! I am changing the name of the merchant and proprietor, but wanted to let you all know about this SCAM! We have heard this same story several times over
I ran across this poem when I was re-reading Think and Grow Rich by Napoleon Hills. “I bargained with Life for a penny, And Life would pay no more, However I begged at evening, When I counted my scanty store; For Life is just an employer, He gives you what you ask, But once you have set the wages, Why, you must bear the task.
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,
In the credit card processing business, it is common, or should I say most probable, that every merchant will run into a salesman who blows smoke, and sells a bill of goods that is FAKE NEWS! In fact, most likely, every merchant in the country has one time or another gotten taken, scammed, or hoodwinked with “I am going to save you money on your
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.
Why Is It a Problem? What is the Solution? Problem: Corporate cards have the highest payment processing rates for merchants. Why? Here is the education behind why corporate and business types of cards cost the merchant a higher processing rate. The situation is that corporate cards are higher risk of being charged back because they are abused by employees who are issued the cards from their
Visa and MasterCard now allow surcharging. This means you can pass the cost of the card processing to the customer. The rules are that you have to register with Visa and MasterCard, and that you can only charge the average of the credit card processing fees and not more than 4%, even if your actual rates are higher than that. Also, you must post a
