Many merchants believe that adding a cardholder’s three or four digit CVV2 code for a “card not present” (CNP) transaction will help qualify the transaction for a lower discount rate. However that is not the case; the CVV2 code is only valuable to protect against credit card fraud and has nothing to do with [...]
By John Robinson
Thank one of my merchants for this suggestion.
If you’re a brick-n-mortar business, and you’re using terminals to run your credit card transactions, you may have experienced the discomfort of a terminal dying. You may have needed to funnel large numbers of customers to other cash lanes, causing gridlock at your registers and annoying [...]
If you are seeing a Visa transaction category named “EIRF” on your merchant account statement you are probably paying much more in discount fees than you need to. If you do not know what EIRF is, read this post and then come back: What is EIRF?
So how do we get rid of EIRF? [...]
By John Robinson
It seems like everyone’s using the internet these days to run transactions. Even brick-n-mortar businesses are using web-based software with USB magnetic strip readers, making their laptops into swipe terminals.
As fantastic as that is, it can confuse even the most sophisticated internet geek when something goes awry. Who should you call?
I [...]
In recent weeks I have come to learn about a business person who works in one of my key industries – wine. His name is Gary Vaynerchuck and he owns a retail wine business in New York and is the world famous host ofwinelibrarytv.com.
I was recently watching an interview of his where he spoke [...]
I came across a great article about how to deal with dishonest customer chargebacks on a e-commerce blog named Get Elastic; here is the link to the blog post:
Dodging Dishonest Customer Chargebacks
House Democrat John Conyers of Michigan and Republican Chris Cannon of Utah have introduced the Credit Card Fair Fee Act that would regulate fees the credit-card industry charges to merchants. Here is a great article from the Wall Street Journal about this act and some other thoughts about the credit card processing industry:
Wall Street Journal [...]
When I first started writing this blog last year I connected with a fellow new business blogger, Don Simkovich. We lost contact with each other until I saw his blog recently on Technorati . So I contacted him to see if he would allow me to interview him in his areas of expertise, [...]
