Blog

Stay up to date with the latest industry news, tips, and tools! We'll do our best to keep you up to date with any industry changes that may affect your business. Knowledge is power!

Visa & MasterCard – New Chargeback Penalties

Apr 3, 2020

Visa and Mastercard both introduced new, lower thresholds to their fraud and chargeback programs in October of 2019 with stringent thresholds that may result in merchants shunning the risks of ecommerce transactions and facing fines and fees for excessive chargebacks. It’s important to understand mail order/telephone order transactions differ from ecommerce transactions and some of […]

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Level 2 and Level 3 Data

Reduce Rates with Level 2 and Level 3 Data

Apr 1, 2020

Lower Credit Card Processing Fees with Level 2 and Level 3 Processing The cost of accepting credit cards is one of the biggest expenses a business faces. It is an unavoidable cost of doing business in a society that rarely carries cash anymore. For any business processing more than $100,000 a month in credit card […]

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What is an “Effective Rate”?

Mar 9, 2020

You may have heard the term “Effective Rate” when it comes to processing credit cards. An effective rate is the percentage of sales you pay for credit card processing. This rate is determined by dividing your total credit card processing fees into the total dollar amount of all transactions submitted in a month. As you […]

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Don’t Run Declined Cards Multiple Times

Feb 19, 2020

You’ve just provided service for a client and you attempt to run their credit card for payment and the card declines. This is always disheartening. You may be inclined to try to run the card again, “just in case”. You run the card a second time and again it is declined.  Your next thought will […]

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Confronting Chargebacks

Feb 3, 2020

Notice of Chargeback This notice is always disheartening for a merchant to receive. Your hard-earned profits are sucked out of your bank account with no opportunity to explain your side before the money is removed. If you take too long to respond, you could lose the dispute simply for not responding in time. If you fail to […]

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