By
Note: Samsung Pay is now part of Samsung Wallet. You may still see it referred to as Samsung Pay, but the company website prompts customers to upgrade to Samsung Wallet, where Pay is one ‘module’ or option within the wallet. What is Samsung Pay? Samsung Pay is a digital wallet that can be used with …
By
Tips over a certain percentage of the bill can trigger flags for fraud, resulting in card issuer-initiated chargebacks, or can cause your transaction to be downgraded to a more expensive interchange category. Tip Tolerance When credit and debit cards are swiped in a restaurant, the amount authorized includes a 20% “tip tolerance.” This means that …
How Tips Paid by Credit Card Could Affect Your Restaurant Read More »
By
Since it’s launch in 2014, Apple Pay has been gaining traction as a payment method for consumers. More businesses are switching to contactless terminals, meaning there will be even more locations that can accept Apple Pay in the future. What is Apple Pay? Apple Pay is a digital wallet that allows consumers to pay for purchases …
By
Digital wallets are becoming a more popular way for to pay for goods and services. With choices like Apple Pay, Google Wallet, the upcoming Samsung Pay, and even PayPal, there are plenty of options for customers no matter what kind of smartphone or electronic device they use.
By
For most businesses, the compliance date was October 1st, 2015. (Pay at the pump gas stations had until 2020 to comply due to the cost and complexity of the upgrades.) What is EMV? EMV stands for Europay, MasterCard, and Visa, after the three companies that initially worked together on the technology. Today, American Express, Discover, …
By
Several months ago American Express introduced OptBlue, which is a new pricing structure that will replace the company’s current One Point pricing for most businesses. OptBlue’s pricing functions similarly to that of Visa and MasterCard’s interchange in that processors pay “wholesale” rates to American Express and apply their markup through a cost-plus or tiered pricing model.
By
Interchange plus pricing does not guarantee competitive credit card processing fees. It’s just as easy for a processor to overcharge a business using interchange plus pricing as it is with other pricing models, such as tiered.
By
Allowing your current credit card processor to match a more competitive offer may sound like a good idea, but it’s a losing proposition that will cost time and money.
