You might be wondering why you are dealing with all this credit card crap in the first place. Someone is taking a chunk of your revenue… you hate statements and bills…and now you have to worry about those fraudulent anarchists? (someone’s blog on fraud protection quoted the Anarchist Cookbook, which outlines details for pulling off [...]
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who has written 21 posts for Credit Card Processing Help.
Dec
4
2009
4
2009
Dec
3
2009
3
2009
Rules for accepting MasterCard
So I was just about to share MasterCard’s merchant rules when I read the first paragraph from their manual online, which says:
“Proprietary Rights: The information contained in this document is proprietary and confidential to MasterCard International Incorporated, one or more of its affiliated entities (collectively “MasterCard”), or both. This material may not be duplicated, published, [...]
Dec
2
2009
2
2009
The 17 commandments of accepting VISA cards
This is dorky, I know, but who wants to read a list of rules? These rules are lengthy, but important to know so you don’t get booted out of a credit card processing agreement.
1-Thou shalt not require a minimum purchase amount: As a merchant, you are not allowed to require a minimum purchase amount. I’ve [...]
Dec
2
2009
2
2009
How do I accept Discover and American Express?
Discover Card and American Express work on different networks than Visa and MasterCard, and are essentially their own processors. Most credit card processors will assist you with getting set up to accept these cards, but you can sign up with American Express online, directly. With American Express, you receive an American Express Service Establishment (SE) [...]
Dec
2
2009
2
2009
Case In Point
This story is a case in point in why you should enlighten yourself about dishonest sales tactics from credit card processors.
Merchant reports dishonest practices to FTC
Nov
30
2009
30
2009
Tiered v. Interchange Plus
What kind of pricing structure should you choose with a credit card processor?
Before you dig into this question, take a look at the proportion of the type of cards your customers are handing you. On average, monthly, what kinds of cards are making the majority of your sales?
The proportion of card types, type of business [...]
Nov
25
2009
25
2009
How can I keep card processing fees low?
Before you do anything, learn the fee terminology and understand how fees work. (For an explanation of basic fees, read my article “Fees Demystified”). The more you know what you’re talking about when establishing an agreement with a card processor, the less likely you will be gouged by a fee you didn’t anticipate, or a [...]
Nov
23
2009
23
2009
Fees demystified
One of the most difficult parts of understanding card processing is understanding how associated fees work, where the money goes and what you are being charged for. These fees are sometimes intentionally vague and are subject to fine print by many card processors. It is important to know how they work so that you [...]
Nov
13
2009
13
2009
Credit Card Processing—the Basics
A major part of starting a business is deciding how you will accept payments for your product or service. If you decide you want to accept credit or debit cards, you’ll discover that you need to set up a merchant account with a credit card processing service and have the equipment or software to process [...]
Apr
14
2009
14
2009
How to choose a credit card processor
With so many credit card processors on the market, choosing one can seem like a daunting task. Here are some tips to help you find your best option.
Get to know the ins and outs of the industry.
As I pointed out in my article Fees Demystified, it will help you immensely to understand how credit card [...]