The financial institution that extends credit to a card holder through bankcard accounts. The financial institution issues a credit card and bills the card holder for purchases against the bankcard account. Also referred to as the card holder’s financial institution.
Electronic Benefit Transfer (EBT) is an electronic system that allows a recipient to authorize transfer of their government benefits from a Federal account to a retailer account to pay for products received. EBT is currently being used in many States to issue food stamp and other benefits. EBT has been [...]
Capture Level II and III Data on Corporate Card Transactions
Visa and MasterCard business, commercial and purchasing cards are used just like personal credit cards. However, these cards have higher interchange rates because they offer businesses high value (and costly) features such as enhanced reporting, consolidated billing for multiple cards and statement enhancements.
The general rule [...]
Obtain Authorization/Settlement Mismatch Exemptions
In general, any variation between authorization and settlement amounts cause downgrades for merchants, which always results in higher fees. However, certain industries are allowed some authorization/settlement leeway due to the nature of their business. For example a restaurant; because an authorization will not include a figure for a tip the [...]
If you happen to use PC Charge for your merchant account transactions listen up! I have been running into merchant accounts having major problems with credit card transaction downgrades because PC Charge is not set up correctly. This means these businesses are paying more than they need to for their merchant account.
[...]
