Use The Address Verification Service (AVS) Correctly for Card Not Present Transactions
AVS uses the billing information associated with a credit card to verify the card holder’s address. This is especially important for Card Not Present (CNP) environments. Why? Because if one of your employees fails to enter the billing address and zip [...]
Make Sure Your Account is Set up with the Right Merchant Category Code (MCC)
Certain industries qualify for special incentive programs that result in better rates. For instance, Visa and MasterCard may feel industries have noteworthy growth potential due to particular business practices and want to encourage greater credit card use. Some examples of [...]
Accept Pin Debit
This means having a pin pad for your clients to enter their PIN number when they use their debit card. These transactions normally have a flat rate per transaction. Let’s compare the fees paid between a normal credit card transaction and a PIN-based one:
Transaction Amount: $150
Credit card rate: 1.85% + $.10
Credit [...]
No, EIRF is not a cousin of the once popular Smurfs. In fact EIRF is not any where close to being a nice, soft, smiling, blue cartoon character. On the contrary, EIRF is disagreeable, hard, frowning and black! If you have it you most certainly are wondering what it is, how you [...]
I really do not like to put links to my competitor’s web sites on this blog. Having said that, below is a link to another credit card processing company’s blog. I am pointing it because they have a very nice video explaining some of the basic issues of PCI compliance. Why should [...]
I am reviewed three merchant account statements today and they all have one thing in common - these businesses are not receiving a reduction in rate when a customer uses a debit card. On one statement there is no debit card activity noted at all. So just in case you have not heard [...]
If you are a merchant and you are reading this blog post chances are price is a pretty important factor to you when it comes to your merchant account. I too think price is important or I would not write about almost daily. Now that we know we agree on that, I want to [...]
