Following up on our recent blog about terminal of the future, the VX 520, today we’re going to let the other shoe drop. With the payment processing industry thrusting its spotlight onto security in the wake of the Target Data Breach, the PCI DSS and its upgraded protocols are getting a lot of attention. Host […]
Terminal Retirements Read More »
It’s mid-February 2014. The Mid-Atlantic, homebase to Host Merchant Services, has been mired in a series of snowstorms that makes the jaunty tune of “Take Me Out To The Ballgame” seem months and months away. Yet today, February 12, is the day pitchers and catchers report for Philadelphia Phillies Spring Training 2014. Six days ago
It’s 1, 2, 3 Swipes, You’re Out! Read More »
The Official Merchant Services Blog tackles the big news in the payment processing industry today: The major hack of discount retailer of Target that stole credit and debit card data from 40 million accounts right smack dab in the middle of the holiday shopping season. The sophisticated hack reportedly took place over several weeks — starting
40 Million Target Customers Hacked [2023 Update] Read More »
Merchants who want to offer convenience to customers by providing self-service options often struggle with the dilemma of receiving payments without being in the physical location of their customers. Unattended payment solutions offers merchant services to collect payments securely from customers. VeriFone UX Solutions For Merchant Services VeriFone recently launched UX Solutions for unattended payments.
VeriFone Solution For Unattended Payments Read More »
A $7.25 billion settlement relating to credit card interchange fees continues to encounter stiff opposition from a number of major retailers and several significant retail trade associations. Case History The antitrust case against Visa, MasterCard and several issuing banks stemmed from a dispute relating to the percentage of credit card transaction fees that retailers must
Swipe Fee Suit Ongoing After Fairness Hearing [2023 Update] Read More »
Here at Host Merchant Services we guarantee to save our customers money every month on their credit card processing. We understand that some of you are wondering how we do this! Transparency is a key cornerstone of our customer service values, so we have no problem sharing our secret formula and show everyone out there
How to Save Money on Credit Card Processing Fees Read More »
Safeguarding Stored Cardholder Data with Tokenization In this era of connectivity, consumers are increasingly concerned about the safety of their personal data. Leaders in the merchant services industry are actively engaged in developing new ways to protect customer information. Here at Host Merchant Services, we commit to security by providing our clients with tokenization, the
Tokenization Makes Card Use Safe Read More »
MasterCard’s Position on Anti-Competitive Accusations MasterCard is a multinational corporation that consists of thousands of separate institutions. The organization gives consumers access to a large variety of payment options. However, MasterCard does not issue credit cards or sign merchants up to accept credit cards bearing its logo. Instead, merchants contract through a MasterCard association member
MasterCard’s Code of Honor [2023 Update] Read More »
Two years after the Durbin Amendment became law, the consequences of this historic legislation are still unfolding. In the coming months, new developments in Durbin implementation could lead to historically low debit swipe fees for merchants. Last July, U.S District Judge Richard Leon ruled on a Durbin-related lawsuit that pitted a consortium of retailers against
Durbin Debit Fees Revisited [2023 Update] Read More »
Credit and debit cards have become nearly universal accessories in modern life. The great majority of Americans now use these cards to expedite and simplify their financial activities. According to the industry analysts at Community Merchants USA, a mere 27% of all POS transactions are cash transactions. In spite of this, only 45%of U.S small
Perceived Barriers to Accepting Credit Cards Read More »
The global economy is deeply affected by the rise of credit card use in emerging markets. As citizens of developing nations gain access to mainstream credit cards, they are empowered to participate more in their national economies and in the global marketplace. Since the world economy is increasingly connected, the growth of credit can produce
Emerging Markets and Credit Cards [2023 Update] Read More »
Throughout many industries, companies are feeling the effects of 2010’s Durbin Amendment. This much-vaunted amendment to Dodd-Frank was intended to protect consumers and businesses from unreasonably large interchange transaction fees. As finally implemented in 2011, the amendment protects one large class of businesses while doing measurable harm to firms specializing in smaller transactions. Though the
Service Impact of Imposing Credit Card Minimums [2023 Update] Read More »
Discover is updating the Discover “On Us” plan yet again, in an attempt to entice more merchants to accept Discover cards. Originally, the Add Discover on Discover promotion from 2011, the plan was based on the incentive that merchants begin accepting Discover cards for the first time and as a reward for this bold new
Discover On Us Update [2023 Update] Read More »
A new U.S District Court ruling could lead to major changes in debit card processing fees. Will the Durbin debit rates go lower with this? Let us understand. On July 31, U.S. District Judge Richard Leon swept aside the Federal Reserve‘s 2011 implementation of the Durbin Amendment. Passed in 2010, this amendment to the Dodd-Frank law was intended to
Can Durbin Debit Rates Go Even Lower? [2024Update] Read More »
The mobile Internet revolution is rapidly changing the longstanding status quo in the payment processing industry. As more people purchase items with their mobile devices, the public is demanding more options and greater security from transaction processing companies. For many long years, big banks and processing companies like Visa and Mastercard faced little competition and were
MCX, Paydiant, and the Battle Over Mobile Wallets [2023 Update] Read More »
Now that card payments are a major force in the economy, a system had to be set up to move this “virtual” currency from customer to business. This system is the basis of interchange. The evolution of how customers pay businesses has changed dramatically over the past half-century or so. Cash was king during the
What Does The Future Hold For Interchange? Read More »
NACHA, the governing body that oversees the automated clearing house network, released figures from the first quarter of 2013 regarding transaction volume and overall traffic on the network. ACH is the system that links virtually all financial institutions in the US allowing banks and merchants the ability to convert paper checks to electronic form. POP,
Q1 2013 NACHA Report Shows Decline of Paper Checks [2023 Update] Read More »
Last fall we wrote about the new Discover “On Us” Program that allows merchants that are new to accepting Discover to defer the cost for a whole year. For many businesses the summer months are their “busy season” and as such this program could add up to great savings all summer long. The “On Us”
Discover “On Us” Program Update Read More »