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 »
Merchants who use the services of credit card processing giant Square, which was founded by a former PayPal executive, can no longer count on flat rates for payment transactions. According to a news report recently published by Bloomberg, Square has rolled out a new fee structure that no longer sticks to the 2.75% in-store transaction
Small Fees Add Up Considerably for Square Read More »
In a $21.5 billion all-stock deal, Global Payments Inc., a global provider of payment processing technology and software solutions, merged with TSYS (Total System Services) to form a pure-play payments company using the name Global Payments, the largest merger of payment technology companies to date. Working with 1,300 financial institutions and 3.5 million merchant locations
Global Payments, TSYS Complete Merger Read More »
B2B, or business to business, describes a transaction in which the customer is another business rather than of an individual. Whether it’s goods, services, or both, B2B payments include transactions such as purchasing supplies to do business, buying lunch for employees, or paying for travel expenses. Though the payment methods for B2B transactions are often
B2B Payment Processing Solutions and Interchange Rates Read More »
Point of Sale and Digital Payment Diversity Keeps Merchants on Their Toes More than halfway through 2019, merchants are responding to the variety of paths consumers are choosing to pay for goods and services. From the mobile point of sale tablets retailers carry around the store to the tap-n-go options from both mobile wallets and
Top 6 Retail Payment Trends in 2019 Read More »
Installment payments are currently being used with great success in other countries but it has yet to become prevalent in the U.S. Based on some recent news from Visa, that might soon be changing. The latest from Visa In June, Visa revealed its intention to enter the POS installment payment business. By using APIs, this
Visa Introduces APIs for Merchants to Facilitate Installment Payment Plans Read More »
Interchange Plus vs Tiered Pricing No one wants to pay more than necessary for credit card processing, which can already eat into profits. When comparing merchant services, it’s important to understand how different pricing systems work. Many merchant account providers advertise very low fees as a teaser, even though most transactions do not qualify for
Interchange Plus vs Tiered Pricing Read More »
Protect Your Business from Credit Card Skimmers Each year, companies sign on to take advantage of merchant services offered for credit card processing. Skimmers are quickly becoming a threat to unsuspecting customers as companies rely more heavily than ever on point of sale services for their businesses. As a merchant, you want to protect your
Protect Your Business from Credit Card Skimmers Read More »
President Trump may be gunning to reform the Dodd-Frank Act, in particular one of the most contentious policies of the act: the Durbin Amendment. The Durbin Amendment—passed as a stipulation of the Dodd-Frank Act—allows the government to set price caps on fees for card transactions. Before 2009, interchange rates were set by banks and merchants
Trump to Repeal the Durbin Amendment Read More »
For the majority of individuals in the property management sector, a checkbook is a vital device that lets vast sums of money be transferred from one point to another without carrying briefcases full of bills. It is also a perfect way of making payments tenuously (mainly rent payments and even utility bills). With millennials promptly
Mobile Rent Payments May Kick off Soon Read More »
Businesses are striving to stay on top of trends in consumer behavior, and mobile payments have been a hotbed of activity. Walmart Pay just rolled out nationwide, and the company is hoping that the app will help them collect more information about how customers use their products and make purchasing decisions. Credit card processing has seen
Walmart Pay to Deepen Information about Shopper Habits Read More »
On Wednesday April 9, 2014 Bank of America settled a lawsuit and agreed to pay $772 million in penalties for deceiving millions of customers into buying costly and unneeded services when they signed up for credit cards. The Crux of the Case The Consumer Financial Protection Bureau said that Bank of America illegally deceived 2.9
Bank of America to pay $772 Million Penalty Read More »
The swipe fee antitrust lawsuit that The Official Merchant Services Blog has been covering for a few years now has an update: Wal-Mart, accusing Visa of excessively high card swipe fees, is suing Visa for $5 billion. The action by Wal-Mart is being taken because Wal Mart opted out of the settlement of the class
Wal-Mart Sues Visa Read More »
On Tuesday, February 25, 2014, Nevada and Delaware lawmakers signed a landmark agreement to join the states together in online poker ventures, potentially increasing payouts for residents who gamble online. The Multi-State Internet Gaming Agreement signed by Gov. Brian Sandoval of Nevada and Gov. Jack Markell of Delaware established a legal framework for the first authorized interstate
Online Poker in Delaware [2024 Update] Read More »
Today marks the start of CoinSummit San Francisco, a two-day event ”connecting virtual currency entrepreneurs, angel and VC investors, hedge fund professionals and others who are looking to learn and network in the virtual currency industry.” CoinSummit will take place on March 25-26 2014 at the Yerba Buena Center for the Arts in San Francisco. Many in
Here Comes CoinSummit! [2023 Update] Read More »
Sometimes the future just sort of sneaks up on you. Even if you’ve given yourself reminders, sticky notes, calendar alarms, and the proverbial string tied around your finger, the future still has a way of creeping up on you unawares. Which is why Host Merchant Services is happy to offer its customers a payment processing
The VX 520 Embraces the Future Read More »
February was the month that the all-seeing eye of the media turned its lidless gaze upon Bitcoin and the craggy peaks of Mt. Gox, the Japanese Bitcoin exchange site. Almost half a billion dollars went missing from Mt. Gox, the exchange was rocked, Bitcoin was scorched, and the site went bankrupt. The Official Merchant Services Blog
The Doom of Mt. Gox [2023 Update] Read More »