Watch this video to learn about changes to Interchange coming in October and why, if you have a merchant account with tiers (qualified, mid-qualified and non-qualified), it is time to switch your account to an Interchange Plus price model.
Check back here in the next few days for more specifics on the coming changes to Interchange.
RDC Post Intro
First lets start with what RDC stands for – Remote Deposit Capture. RDC is a new generation of check imaging and conversion. This new service was made possible by “The Check Clearing for the 21st Century Act,” formally known in the U.S. House of Representatives as HR 5414 and informally known as Check21, [...]
By John Robinson, of Cocard Synergy
They’ve nailed some of the ring that stole 45 million cards’ worth of information from TJX Companies. 11 people have been charged, and the ringleader, Albert Gonzalez, could get life in prison. Life.
And in addition to TJX, check out who else Albert’s gang targeted: BJ’s Wholesale Club, OfficeMax, [...]
I received a call from a reporter at US News an World Report two weeks ago. His name was Matt Bandyk, a business writer for the magazine. He had found me through my other blog straightpassthroug.biz and he had some questions about how businesses could lower their merchant account processing fees. We talked [...]
By John Robinson
I just came across something I’m sure you’ll all love: the potential for merchants as a group to negotiate interchange fees with the Visa and MC member banks! There’s a bill being looked at by the Judiciary Committee Antitrust Task Force called “U.S. House of Representatives bill 5546 [...]
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 [...]
Cybersource which is the company that owns authorize.net has just come out with a report about web based transaction fraud. This is the eighth year they have come out with this report that includes benchmark data by company size and best practices you can use to prevent or reduce fraud.
Go here and fill out [...]
The Association for Financial Professionals reports results from its 2008 AFP Payments Fraud and Control Survey concluding that” “payments fraud continues to challenge treasury and finance professionals, with almost one third of respondents to a new AFP survey reporting that incidents of fraud increased in 2007 compared to 2006.”
To read more click here.
