Any online gambling site is likely familiar with the problem of the 7995 — the merchant category code (MCC) that has been associated with gambling transactions since the days when all online gambling was banned. Now, with New Jersey, Nevada and Delaware allowing it to various degrees, the lack of distinction has been a problem for […]
Watch out, merchants: Dubbed “PoSeidon” by Cisco Security Solutions, this malware is a new type of trojan that specifically targets POS (point of sale) systems, nabbing the credit card information of your unsuspecting customers. Cisco stated in a March 2015 report that POS malware attacks are on the rise, affecting businesses both large and small. […]
While some mobile processing apps focus solely on card-present transactions (like Spark Pay (see our review) and PayAnywhere (see our review)), others, like Flint and Square, also offer online selling tools to supplement in-person payment options. If you do any kind of e-commerce, Flint (see our review) and Square (see our review) are both solid payment processing services, […]
After the recent EMV liability shift, you’re probably finding yourself staring at your old credit card machine, wondering if it will make a good paper weight, and worrying about the cost of buying a new machine. Lucky for you, the transition doesn’t have to be an expensive one, but it pays to be educated as you […]
Setting up a tech support company in India (or anywhere) comes with a host of challenges, some obvious, others less so. One obstacle you may not have accounted for is the difficulty finding a merchant account provider for the business. Instead of trying to find the lowest rates possible, you probably found yourself stuck searching for […]
After browsing hundreds of pages of payment processing contracts and sales information, and having heard from hundreds of confused and frustrated merchants, there are some choice words that really grind my gears. These words and phrases are commonly used in the payments industry, and most new business owners (and some seasoned owners) get thrown off […]
Some fees are avoidable – and some aren’t. When choosing and working with a payment service provider, you need to be able to figure out which fees they charge to make profit, and which are actually coming from the credit card networks. So where does the Visa FANF fee fit into all this? In our […]
One of the most confusing billing methods in the credit card processing industry today is the billback (BB) method. Chances are, you don’t even know what it is. What’s worse is that billback spawned itself an offspring called enhanced billback (EBB), which is even more complex than the original. To add even more confusion, the […]
As a business owner – whether of a retail establishment or an online store – you know that credit card processing fees eat into a big slice of your profits. Just glancing at your merchant account statement each month could send you into a dizzying spin of frustration – especially when you see those outrageous Mastercard and Visa downgrade fees costing […]
We’ve all been there – swindled into a contract that we never should have agreed to in the first place. Fine print and loaded statements make it difficult to decipher the early termination fees we’re accepting, yet we sign on the dotted line anyway. It isn’t until we decide to cancel our contracts that buyer’s […]
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