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We’re leaving this article here for historical reference, but will not be updating it. Instead, new information about the Fixed Acquirer Network Fee (FANF) can be found at the post linked above. Visa has announced a new Network Participation Fee and pricing structure in response to the Durbin Amendment. Part of the amendment allows merchants …
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If you have a merchant account, this information applies to you. Make sure your processor has your correct TIN and tax filing name. Note: The information herein does not replace the advice of a qualified tax professional. Talk to your accountant about the impact of 6050w and your responsibilities under tax law. Section 6050w Overview …
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1 – Get bundled pricing. Bundled pricing is what you want if you’re a fan of hidden surcharges and paying (way) too much for credit card processing. Ready to get ripped off by credit card processors? Go for bundled (also called tiered) pricing. Type the term “credit card processing” into your favorite search engine and …
5 Great Ways to Get Ripped Off by Credit Card Processors Read More »
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The short answer is: Yes and no. The longer answer is that it depends on the type of card. You’ll have to follow applicable rules as well. Credit cards: Yes. It is acceptable for you to set a minimum charge on credit card purchases as long as you abide by the stipulations as set forth …
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Within that, a relatively small portion of the act – the “Durbin Amendment” – has made decisive and controversial changes in the way debit cards are processed. These changes were meant to lower the financial burden on businesses, though that has not always been the case. What is Interchange? “Interchange” is at the backbone of …
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Leading credit card processing comparison Website CardFellow.com is cautioning merchants that they may not benefit from reduced interchange fees proposed by the Durbin Amendment. The online marketplace is advising merchants to switch to a credit card processor that…
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Knowing the lay of the land will help you better identify how to get the best processing solution. Once you’re done reading this article, check out our more detailed breakdown of where credit card processing fees come from. For now, let’s dive in to how credit card processing works. The bankcard networks that ferry billions …
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It’s not really as simple as that, though. In actuality, a variety of entities are working behind the scenes, and it’s the card-issuing bank that ends up taking the largest piece of the pie. The more you know about what affects your business, the better armed you are to improve your position in the market …
