I just added a new client that uses QuickBooks Pro 2008 to run their transactions. They were setup with Quickbooks Merchant Services because they thought they had no other choice. Just to make sure that was the case they went searching on the internet and came across this blog. They [...]
Have an iPhone and desire to run transactions from just about anywhere you go? Then this iPhone application is for you. I have included the link below, just make sure you do not get your merchant account from these guys because if you read the fine print you’ll see their rates are very high - [...]
We have written several posts about PCI Compliance on this blog, but it is definitely not our strong suit - yet. Therefore, when I run across any good content on the subject I like to point it out to you our readers. So here is an article I just came across on an American Express [...]
Do you or one of your clients operate a supermarket? Is so, there are a few things you should know that could result in some significant savings on merchant account fees. Here is the list:
1. Visa has lower Interchange rates for consumer cards used at a supermarket:
TRANACTION TYPE
RETAIL
SUPERMARKET
Swiped Consumer Card
1.54% [...]
If you haven’t watched part one of of this two part series go here to watch the first video.
The theme of part two of this series is that there is much more than just price to pay attention to when shopping for a merchant account. Watch the video and take a look at my [...]
We do write about PCI issues on this blog but by no means are we experts in this area, yet. I just ran across a blog that does specialize in this area and the authors look to be highly qualified to write about these issues. There focus is PCI DSS for higher education [...]
That’s right I, Robb Lejuwaan, have chosen to give away authorize.net for nothing! My company has been charging a small fee of $25 up to this point but I just realized with a free authorize.net account I make more money!! That’s right more money for me if I give you authorize.net for free. [...]
I just ran across an article written by an executive at Global Payments about Interchange Plus. It was written for people who are inside the merchant account industry. In the article he concludes that Interchange Plus pricing is not the best thing for merchant account providers, for several reasons including a reduction in [...]
Watch this video to here a different poi of view on merchant account early termination penalties. Let us know what you think by sharing your thoughts in the comment section below.
Watch this video to learn about changes to Interchange coming in October and why, if you have a merchant account with tiers (qualified, mid-qualified and non-qualified), it is time to switch your account to an Interchange Plus price model.
Check back here in the next few days for more specifics on the coming changes to Interchange.
I just got off a conference call with authorize.net and a new client of mine. Our mission was to switch their merchant account provider within their authorize.net account. I happy to say the whole process took about five minutes and was almost painless (the hold music was brutal!).
I have previously written on this [...]
A Third Party Processor is an independent processor that is contracted with by a Acquiring Bank or Processor to conduct some part of the transaction processing process.
-Some of these Third Party Processors specialize in running and hosting networks of Point Of Sale (POS) terminals connected to their Host via dial out modem; they produce the [...]
Watch this video and read this post to learn what to look for and ask when you are shopping for a merchant account.
What watch out for:
Super low discount rates – the lower the advertised rate is the greater your effective rate typically will be.
Free terminals or gateways – in business nothing is free in the [...]
Case Study - Winery
Business Type: Napa Valley Winery (specific name withheld)
Initial Status: To the untrained eye this merchant account statement looked just fine; here are a few of the problems that stood out to me:
One merchant account for both their tasting room and wine club
25% of there Visa transactions going to a “non-qualified” status
Transactions being [...]
RDC Post Intro
First lets start with what RDC stands for - Remote Deposit Capture. RDC is a new generation of check imaging and conversion. This new service was made possible by “The Check Clearing for the 21st Century Act,” formally known in the U.S. House of Representatives as HR 5414 and informally known as Check21, [...]
