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Tap on phone (or tap to phone as Visa calls it and tap to mobile for Amex and Discover) is a contactless payment method where customers tap a seller’s smartphone instead of a credit card machine to pay. In this article, we’ll go over contactless payments and specifically tap on phone. What are contactless payments? …
The Rise of Contactless Payments and Tap on Phone Read More »
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Note: CardFellow does not use ChatGPT or artificial intelligence to write blog posts. We are using ChatGPT for this article to go through the advice it may give when prompted to assist with comparing credit card processors. Before we dive in, let’s briefly go over what ChatGPT actually does and how we approached this article …
AI in Credit Card Processing: What does ChatGPT Say? Read More »
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At the time, experts were divided on whether businesses actually would implement credit card surcharges and whether such fees would alienate consumers. Let’s look at the current state of surcharging and the impact it has had on businesses and consumers. First, a quick refresher. What is Surcharging? Surcharging, defined as adding a fee to purchases …
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When credit card transactions “downgrade,” it means that they failed to meet criteria for the “target” interchange category. In practical terms, it means your business paid more to process that transaction than was necessary. Non-qualified is a “downgrade” category. Note: “Standard” as an interchange category still applies in limited circumstances; specifically, Visa uses it for …
Visa Corporate and Purchasing Non-Qualified Interchange Read More »
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You may have seen commercials on TV or heard people saying that a bill in Congress – the Credit Card Competition Act – will kill rewards credit cards.
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Note that this does not apply to debit and prepaid cards used at a supermarket. Those card types have their own interchange (CPS Supermarket), which we cover in this article: Visa CPS Supermarket. Let’s take a look at the eligibility requirements for the categories and what you can expect to pay if you’re running a …
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However, Zettle isn’t only for businesses that take cards in various locations. The readers can also be paired with an iPad and accessories to create a sleek, modern point of sale system in a fixed location. In this PayPal Zettle overview, we’ll go through the features, hardware options, and costs to help you determine if …
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They may have even suggested a specific gateway, such as Authorize.Net or NMI. Or perhaps you’re currently using one of those gateways but are considering a switch. In this article, we’ll compare and contrast Authorize.Net and NMI, two of the most popular gateways available, to help you make the right decision. Key Terms In order …
Authorize.Net vs. NMI: Comparing and Contrasting Payment Gateways Read More »
