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The US chip card rollout was confusing and sluggish. Additionally, in locations that have implemented chip card machines, customers were often frustrated or want to swipe their chip cards through the magstripe reader. The primary complaint was that chip card transactions were painfully slow.
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CardPointe is a processing solution available through CardConnect, designed to make transaction processing easier and safer.
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Payment processing company Square has built a reputation on offering simple, flat-rate credit card processing for small business. The well-publicized 2.75% rate was a good deal for businesses with small average transactions or low monthly credit card sales, but the company no longer offers that rate.
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A battle is brewing. Citing security issues, giant retailer Walmart has brought a lawsuit against Visa. At the end of June, 2016, Visa filed a countersuit. The news has spread like wildfire, and misconceptions are also spreading fast. Let’s take a look at what the lawsuit is actually about and address some of the incorrect info going around.
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Visa’s commercial card-not-present is an interchange category. It refers to payments made using a commercial purchasing card when the card is not swiped.
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Commercial Level II is a Visa interchange category used to calculate the interchange fee for card-not-present transactions made with a corporate credit card instead of a consumer credit card.
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The Business Card Not Present (or COMM CNP B) is a Visa interchange category that is used to calculate the interchange fee for card-not-present transactions made with a business credit card instead of a consumer credit card.
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Visa’s Business Card Level II (US COMM L2) is an interchange category used to calculate the interchange fee for card-not-present transactions made with a business credit card.
