Visa, the largest global payment system, is making changes to its approach towards surcharges in order to be more stringent towards merchants who impose additional fees on customers using credit cards. In recent months, Visa has reduced the amount that retailers can charge customers when they use Visa cards. Additionally, the company has started conducting […]
Visa Cracks Down On Businesses Using Surcharge Programs Read More »
The UK’s Payment Systems Regulator (PSR) has proposed a groundbreaking measure by provisionally suggesting implementing a price cap on cross-border card fees or interchange fees for credit and debit cards. Primarily targeting major U.S. payment technology giants, Mastercard Inc. and Visa Inc., this move is orchestrated to shield UK businesses from potentially excessive interchange fees.
PSR Proposes Cap On Cross-Border Card Fees To Safeguard UK Businesses Read More »
MasterCard Inc. delivered results in the third quarter, beating expectations with earnings of $3.39 per share. The company’s positive outlook on growth remains intact despite the challenges posed by inflation. This growth can be attributed to consumer spending and a diversified business model that has efficiently navigated through uncertain global conditions. As one of the
MasterCard Earnings Surpass Expectations Driven by Consumer Spending Read More »
Credit card processing fees have been a topic of concern for merchants and consumers for a long time. The fees associated with processing credit card transactions have been a significant source of revenue for banks and payment processing companies. However, over the past few years, there has been a push for regulation to curb these
Regulatory Outlook for Credit Card Processing Fees in 2023 Read More »
As a small business owner, it is crucial to accept credit card payments to stay competitive and meet consumer preferences. However, doing so also exposes you to potential credit card security risks for small businesses. You can reduce these risks to avoid costly mistakes such as lost revenue, stolen customer information, and fines. One way
Credit Card Security Risks That Small Businesses Should Be Aware Of Read More »
Many merchants may scroll through their merchant account statements to review their processed transactions and see unsuccessful payments with the code: ‘05: DoNotHonor.’ So why does the do not honor error code show up? Who’s to blame for the do not honor decline; the merchant, the banks, or the customer? Unfortunately, the answer is not
Do Not Honor: What Does This Mean in Credit Card Processing? Read More »
Over the last 12 months, almost every retailer felt the need to shift from the in-store traditional payment methods to the new-age digital methods. Businesses have also understood that this shift has a vast scope – it is not just a momentary reaction to the prevailing coronavirus pandemic, but a long-term trend. IBM’s U.S Retail
Trends in Mobile Credit Card Processing for Fall 2021 and 2022 Read More »
Starting out, many new business owners may feel baffled by a huge list of technologies and terms, especially in the payment industry, such as POS systems, credit card terminals, credit card processing, and so more. Many startups may feel confused when selecting the right device or technology for handling their day-to-day transactions and sales. Today
Differences Between a Credit Card Machine and POS System Read More »
What’s the first word that comes to mind when you think of credit cards? If it’s fraud, you’re onto something. Hacking and identity theft are at all-time highs, especially during the pandemic. As a merchant, it’s your job to minimize the risk for your consumers in order to stay in business. One of the best
The Top Reasons You Should Switch to EMV [2023 Update] Read More »
The pandemic has been hard on almost all business owners and consumers across the world. With people losing their jobs and expenses rising, millions of consumers have been going through a financial crisis for the last 10-12 months. Such wide economic gaps are compelling buyers to trim their shopping lists and finding better ways to
Installment Plans Gain Traction Among Consumers, Predicted to Grow in 2021 Read More »
COVID-19 has affected restaurants harder than many other industries mainly due to the lack of cash flow. Not that restaurants aren’t making the money, they just make it differently. Most payments are electronic to avoid the risk of passing germs with cash (not necessarily because of the lower accessibility of it). That leaves restaurant owners
Tipping Goes Virtual as COVID19 Impacts US Restaurants Read More »
Today, shopping retail and even picking up food at a restaurant looks different. Most customers prefer contactless payments and curbside pickup. They are the norm – they are expected. Contactless payments are just one more way to reduce the risk of sharing the virus. With less cash flowing around, the risk lessens, especially when consumers
COVID19 Drives Adoption of Contactless Payments and Curbside Pickup Read More »
Visa has an ambition to improve the world and minimize its environmental impact. Thus, they are collaborating with the CPI Card Group to produce ‘Earthwise High Content Card’ for Visa cardholders. The credit card, made of 98% upcycled plastic, would enable both contactless and contact payments. Besides this, the aim is to make cards EMV compliant with dual-interface
Visa Looks to Make Plastic Cards Sustainable Read More »
How Is COVID-19 Transforming E-Commerce Merchants? There is no doubt COVID-19 has redefined our life, and its impact could, presumably, last for years. The way we socialize, work, and function has rapidly changed, and so has our buying behavior. Online shopping has become the new norm as consumers are finding it safer and more reliable.
How Is COVID-19 Transforming E-Commerce Merchants? Read More »
Because restaurants operate on thin profit margins, restaurateurs must leverage every payment type to attract every type of customer while simultaneously leveraging the support of their credit card processor. Business owners don’t have time to waste on deciphering complex credit card processing fees during their monthly reconciliation. Nor do they have the luxury of refusing
How Should I Choose a Credit Card Processor for My Restaurant? Read More »
Finding a new point of sale system for your business can be a tricky undertaking. Before you jump the gun on something that may not quite be right for your business, however, take the time to read ahead and learn just what questions you should be asking when looking for a new point-of-sale system. How
What to Look For in a POS Read More »
Cash or plastic? When members of Generation Y are asked this point-of-sale (POS) question, they are more likely to choose plastic, but not necessarily a credit card. According to research by PSCU, a payment processing provider for American credit unions, older members of the Millennial Generation, those who are between the ages of 31 and
The Millennial Generation is the Debit Card Generation Read More »
Choosing a merchant account can be overwhelming. With innumerable fee structures, not to mention growing varieties of payment options, a business can spend full-time hours simply keeping up with the fast pace of credit card processing trends. If you follow the advice from the steps listed below, you’ll be ahead in the merchant account game:
How to Avoid Common Mistakes When Getting a Merchant Account Read More »