By now, you’ve certainly figured out that credit card processing isn’t free. Every credit or debit card transaction that your business accepts is going to cost you money. You probably also understand that your payment processor has to pay interchange fees to the bank that issued the customer’s card. In fact, interchange fees constitute the […]
Credit Card Processing Blog Posts | Page 7
If you’re reading this, you’re probably looking to accept credit card payments on your phone or perhaps your tablet as well. So where do you start, and how do you decide which software/payment processor to choose? I’m here to help you figure out if mobile processing is right for you (spoiler alert, it probably is), and which features are the most important.
From a merchant’s standpoint, the difference between a credit and a debit card matters less than it does to the consumer, but the difference is still detectable because the transactions carry different costs. In fact, because a PIN pad is needed to initiate true debit charges, a merchant must buy a point-of-sale terminal with a PIN pad before true debit charges can be processed. For larger ticket items, a true debit charge can cost the merchant less to process than a credit charge or a credit path debit charge.
The Quick Guide To PCI Compliance For Small Businesses: What You Need To Know & How To Become Compliant
If you’re a first-time small business owner, you might not be too familiar with the concept of PCI compliance. You might not even have ever heard of it before. It’s also entirely possible that your first introduction to the subject will come in the form of a “PCI compliance fee.” This is a fee that […]
The Complete Guide To Credit Card Surcharging: Guidelines For Visa, Mastercard, American Express, & More
Credit card surcharging has rapidly gained in popularity in recent years as court decisions, and legislative changes have gradually removed legal barriers to the practice. The ongoing COVID-19 pandemic has greatly accelerated this trend. Nonetheless, the question remains: Should you add a surcharge?
So, you’re a first-time small business owner, and you want to be able to accept credit and debit cards from your customers. After all, you’re bound to get a lot more sales – and make more money — right? Well, this is generally true. However, credit card processing is also a mysterious and rather complex […]
Some credit card industry terms can seem innocuous or self-evident but are actually quite specific to how payment processing works. One such term is the merchant ID, which is often abbreviated as MID. It is also sometimes just called a merchant number. Not every merchant who accepts credit cards has an MID, but for those […]
The Complete Guide to PCI DSS: Why You Need To Understand PCI Compliance Standards & What Role Payment Processors Play
If you’re a new business owner, you may not know very much about PCI compliance – or even what it is. It’s possible that your first introduction to the subject might be an unexpected fee for PCI compliance showing up on your monthly processing statement. Like it or not, you can expect that PCI compliance […]
If you’re a new business owner who’s launching a biz soon — or a current business owner whose bank has approached you about switching your merchant account with them — you may think that a bank is the safest bet when it comes to processing payments. Of course, it’s convenient to have merchant services and […]
If you have a Visa or Mastercard, then you already have an intuitive understanding of what an issuing bank is. It is the bank whose name is on the card, alongside the Visa or Mastercard brand. It is the bank where you applied for the card, the bank that sends you a bill each month, […]