CFIB and Mastercard Discontinuing Preferential Interchange Agreement
Mastercard has announced that they are ending their preferred interchange rates for merchants who are a member of CFIB (the Canadian Federation of Independent Businesses) according to a recent update from the organizations.
Prevent Card Present Fraud
If you’re regularly accepting credit cards in person, then you can use these tips to help you identify transactions that might be fraudulent and how to respond to them swiftly.
How Your Role in a Credit Card Transaction Changes Your Risk
Understanding where the unique risks lie for each entity involved in a transaction can help you better understand the fees you pay as a merchant, the processes - both apparent and hidden - you’re involved in each time you process a credit card, and your business’ general place in how it all works.
Are Credit Card Signatures Becoming a Thing of the Past?
Amex, Mastercard, and Discover have all stated that merchants can stop requesting signatures as of April 13th, and Visa is expected to follow suit shortly. The change applies to customers in multiple countries depending on the card brand.
Best Practices for Card-Not-Present Transactions
There are a few best practices you can follow to help protect your business from inadvertently processing a fraudulent card-not-present transaction and to help protect your business and your customer’s personal information.
Flat Rate Pricing | What They Don't Tell You
Flat Rate pricing simply means that the credit card processor is charging you one flat rate for all of your credit card transactions, regardless of the interchange rate fluctuating based on the card type.
Small Business Center
Payment Tools Retail Merchants Often Overlook
With today’s technology, businesses of any size are now able to access innovative tools that used to only be available for large enterprise size businesses with bloated budgets. While you may have just needed to accept card payments initially, there is a whole host of options that are opened up to you once you sign up for a merchant account that can really help you save time.
Common Misconceptions About Credit Card Processing
There are a few common misconceptions about credit card processing that we hear quite regularly, and we would like to help clear them up so you can avoid any potential frustration in the future if you come across any of these scenarios.
What is Credit Card Tokenization?
Credit card tokenization is the process used to create a token to represent a customer’s credit card, this token is an alphanumeric string of characters that represent that customer’s credit card.
Choosing a Payment Processor
Don't be Tricked into Switching Providers by These Sales Pitches
High-pressure sales tactics may be used by some ISO’s (Independent Sales Organizations) when they’re speaking to potential merchants and trying to get them to sign up for payment processing.
What are NFC Payments?
It’s likely that you commonly understand NFC payments as “Tap and Pay” or simply “Tap,” but NFC stands for near field communication and refers to the technology employed to complete these types of transactions.
What are EMV Payments?
Transactions with EMV cards are commonly referred to as “Chip and Dip” or “Chip and Pin” because the cardholder is required to insert their card into the terminal and enter their pin to successfully process a transaction.