Credit Card Processing
What is a Monthly Minimum Fee?
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A merchant account monthly minimum fee really isn’t a fee by itself — it’s more like a benchmark.
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Credit Card Processing
Basis Points – The Basis for Fees
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This article explains what a basis point is, how to calculate fees using basis points, and finally the role basis points play in credit card processing — specifically having to do with a processor’s markup. What is a basis point? A basis point is a unit of measurement that is equal to 1/100 of one …
Credit Card Processing
Mobile Showdown: PayPal Here Vs. Square 2019
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The battle for the micro mobile market heats up as PayPal Here enters the ring in direct competition with Square.
Credit Card Processing
What is a Retrieval Fee?
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A cardholder’s issuing bank sends a retrieval request to the processing bank. Then the processing bank sends the request to the business. At this point a processor will assess a retrieval fee. A retrieval request does not involve the refund or reversal of a transaction. A reversal is only initiated if a chargeback occurs. Since …
Credit Card Processing
Intuit Credit Card Processing = Very Expensive!
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Intuit uses opaque tiered pricing and excessive downgrades to inflate credit card processing fees.
Credit Card Processing
PayPal Here Credit Card Processing
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NOTE: As of April 2023, PayPal Here is no longer available by that name; it will be converted to PayPal Zettle. We’re leaving this article for historical accuracy. With the Here mobile option PayPal takes direct aim at Square — the market leader in the smartphone credit card processing space. Square has a few things …
Credit Card Processing
Enhanced Merit 3
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Enhanced Merit 3 is a Mastercard interchange category. Interchange fees are essentially the wholesale cost of credit card processing and generate income for banks that issue credit and debit cards. The word “Enhanced” refers to the type of credit card, and “Merit 3” refers to how the card is accepted and processed. The Enhanced MasterCard …
Credit Card Processing
Transaction Integrity Fee (TIF) Visa
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Effective April 13, 2012, Visa began charging a Transaction Integrity Fee (TIF) of $0.10 on transactions involving Visa debit and prepaid cards that do not meet CPS requirements (more on this later). The Transaction Integrity Fee will not apply to Visa credit card transactions. Transaction Integrity Fee The TIF will not affect a large number …