As a credit card processor for your association or trade group, the most common question we are asked about each day is: “What are your rates”? If you ask a credit card processor this question and they offer a flat rate of any amount, RUN AWAY! Flat rate processing is the worst rate you can […]

What is an ACH Payment? ACH payments are a type of electronic bank-to-bank payment. The ACH system is used to quickly move money from one bank account to another. It is similar to a wire transfer, paper checks or cash moving between accounts, except much faster and less expensive than a wire transfer. ACH is […]

When a customer’s credit card declines, it creates an awkward situation for you and the customer. Your first instinct is likely to run the card again. Your customer will likely even ask you to try it again. If the card is declined, it will decline on each subsequent attempt – so, don’t waste time doing […]

Have you noticed an uptick in chargebacks? We are seeing many of our merchants who are experiencing chargebacks for the very first time after decades of business experience. As we enter the fourth month of 2022, our Remedy Payment Solutions chargeback concierge team has seen a huge surge in chargebacks. This is a phenomenon taking place throughout the world. In […]

Digital Payment platforms such as PayPal, Zelle and Venmo were originally intended to allow friends to quickly transfer money between each other. Cash apps provide a quick and easy method for splitting the check in a restaurant, loaning a friend money or even paying for Girl Scout cookies. The History of Cash Apps The original […]

Who decides if your bank account  is funded for a transaction that you process? Remedy Payments engages with a partner bank (funding bank) that agrees to provide funds to you immediately on behalf of the bank that issued your customer’s credit card. Let’s say your customer used a Wells Fargo Visa to make a $10,000 purchase. […]

By now you have probably heard that a shortage of electronic components is delaying the production of everything from vehicles to credit card terminals that read the electronic chip of a credit card. The severity of the global chip shortage has gone up dramatically over the past few weeks and it appears that it is […]

Your Merchant Account is a powerful tool in your business. You have the ability to post charges and credits to credit card accounts. Just because you can perform a transaction, doesn’t mean that you should. Here are some examples of transactions you should stay clear of to avoid having your merchant account suspended or closed […]

Interchange fees are set by each card brand (Visa, MasterCard etc.) as a transfer fee between acquiring banks and issuing banks for every credit card transaction. These fees are used to assess charges for merchants and are usually adjusted each year in April and October. The April 2021 scheduled increase has been postponed to April […]

Every expense of your business operations reduces your overall profitability. With the economic downturn caused by the COVID-19 pandemic you are likely looking for areas that you can save money or offset expenses by passing them on to your customers. You know, there is an expense in accepting credit cards. The pandemic has caused an […]