A rare, vital subject not often spoken about concerning merchant account credit card freezes. It’s considered an unbearable set-back when it comes to your finances. It is also a hindrance to your business. The second your merchant account experiences a hold, you cannot access any of your funds until they feel the issue is resolved. more »
Tag: processing fees
Processing credit cards on the Internet is a much required form of payment when buying products or services online. If you’re a business owner, it’s crucial you have a merchant account. People feel secure with merchant accounts that allow credit card processing. Buyers and sellers have different advantages and disadvantages when using your credit card. more »
1. Know your Business Type Visa/Mastercard use pricing indicators or business types to apply discounts toyour rates. In the beginning, Visa/Mastercard used to charge one rate for everyindustry. Some industries refused to accept credit cards because they thoughtthe rates were to high and cut into too much profit margin. Supermarkets wereone of the biggest holdouts. more »
Source: Catalyst House In 2006 Douglas Rushkoff, when asked The Edge Question, “What is the most dangerous idea?,” replied, “open source currency.” Well now a new P2P digital currency, called Bitcoin, may provide the ideal medium to engage in commerce outside the official economy and — it’s decentralized, anonymous, and its supply is moderated by a mathematical formula to more »
Source: MarketWatch | Emily Maltby Chargebacks are reverse credit-card transactions that can happen when a consumer disputes a charge, if the card is lost or stolen or if there’s a processing error. Business owners are ultimately responsible for the amount charged back to the company. To recoup the loss, merchants must prove to the card more »
From American Banker June 24, 2010: With preferences for carrying and using cash continuing to drop, more consumers expect merchants to accept debit or credit cards for payment. But not all merchants do, especially those that lack physical storefronts. Some industry insiders believe mobile-based products might help encourage them to accept electronic payments. Indeed – more »
Business owners have been increasingly upset at interchange “swipe” fees that card issuers are unwilling to negotiate.