Merchant Account Blog - Straight Pass Through » News http://www.straightpassthrough.biz Merchant Accounts Made Simple Wed, 17 Mar 2010 23:40:26 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Video: It’s Time to go Interchange Plus! (October Rates Changes) http://www.straightpassthrough.biz/2008/08/21/its-time-to-go-interchange-plus-october-rates-changes/ http://www.straightpassthrough.biz/2008/08/21/its-time-to-go-interchange-plus-october-rates-changes/#comments Fri, 22 Aug 2008 00:15:10 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/?p=523 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.

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]]> http://www.straightpassthrough.biz/2008/08/21/its-time-to-go-interchange-plus-october-rates-changes/feed/ 0 Does Your Business Take Checks? Then You Need to Learn about RDC http://www.straightpassthrough.biz/2008/08/16/remote-deposit-capture/ http://www.straightpassthrough.biz/2008/08/16/remote-deposit-capture/#comments Sat, 16 Aug 2008 23:07:56 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/?p=440 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, which allows banks to clear checks using images (reproductions) of them rather than original items. Thus the need to transport paper checks to the bank has been eliminated.

The RDC solution enables users to scan checks and transmit the scanned images to a bank for posting and clearing. RDC is a fully integrated, web-based electronic payment processing system that uses a check scanner to convert paper checks into electronic transmissions. To accomplish this, five items are needed:

  1. Check scanner
  2. Personal computer
  3. Internet connection
  4. Check scanning software
  5. Image exchange agreement with a bank

With RDC, checks clear in 24 to 48 hours, compared to five to seven business days with traditional check deposits. So RDC is a great way to save your business time and money, while offering your customers yet another way to pay for your goods and services.

Here are some of the ways RDC can benefit your business:

  • Eliminate trips to the bank
  • Keep existing bank relationships
  • Reduce the number of returned checks
  • Enjoy faster check processing times
  • Make deposits later in the day
  • Use a single provider for both credit card and check processing
  • Reduce the number of bank relationships for multiple location businesses

If this sounds interesting to you contact me and I will forward you more information including pricing.

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]]> http://www.straightpassthrough.biz/2008/08/16/remote-deposit-capture/feed/ 2 Breaking News: Update on the TJ Maxx stores PCI Issues! http://www.straightpassthrough.biz/2008/08/05/breaking-news-update-on-the-tj-maxx-stores-pci-issues/ http://www.straightpassthrough.biz/2008/08/05/breaking-news-update-on-the-tj-maxx-stores-pci-issues/#comments Tue, 05 Aug 2008 23:43:58 +0000 John Robinson http://www.straightpassthrough.biz/?p=359 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, Boston Market, Barnes & Noble, Sports Authority, Forever 21, Dave and Buster’s Restaurants, and DSW Inc.

Those are some big names.

Aaaaand. in addition to the $40 million that Visa fined them, TJX also settled with MasterCard for about $24 million-or a total over $60 million!

Well, I’m sure you understand the importance of security and PCI DSS compliance. If you want to read more about this breaking news, here are some links:

CNN

NY Times

Associated Press

Otherwise, if you want to start working on your own credit card security, start with this article here.

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]]> http://www.straightpassthrough.biz/2008/08/05/breaking-news-update-on-the-tj-maxx-stores-pci-issues/feed/ 0 Robb Makes it into US News and World Report! http://www.straightpassthrough.biz/2008/07/07/robb-makes-it-into-us-news-and-world-report/ http://www.straightpassthrough.biz/2008/07/07/robb-makes-it-into-us-news-and-world-report/#comments Mon, 07 Jul 2008 22:17:49 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/?p=186 US News and World Report LogoI 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 for over a half hour and the I provided him contact information for two of my favorite clients who he also interviewed for the article. That is enough of my story, here is a link to the article:

How to Deal With Credit Card Mumbo Jumbo

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]]> http://www.straightpassthrough.biz/2008/07/07/robb-makes-it-into-us-news-and-world-report/feed/ 0 Happy Day Merchants! Interchange Fees before Congress! (Again) http://www.straightpassthrough.biz/2008/05/28/happy-day-merchants-interchange-fees-before-congress-again/ http://www.straightpassthrough.biz/2008/05/28/happy-day-merchants-interchange-fees-before-congress-again/#comments Wed, 28 May 2008 14:05:17 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/?p=183 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 ”, aka “Credit Card Fair Fee Act of 2008.” You’ve got to love the sound of that.

Read about it HERE .

And click on these names if you want to know more about the Merchant Payments Coalition and get involved, or the National Retail Federation , another big player for the merchants.

Now, there’ve been attempts before, so don’t get too excited. However, I would suggest that you get in touch with your representatives offices and let them know your feelings on this topic.

Well, cross your fingers!

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]]> http://www.straightpassthrough.biz/2008/05/28/happy-day-merchants-interchange-fees-before-congress-again/feed/ 0 Merchant Account Industry Regulation Update http://www.straightpassthrough.biz/2008/04/05/regulation1/ http://www.straightpassthrough.biz/2008/04/05/regulation1/#comments Sat, 05 Apr 2008 23:30:33 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/regulation1/ 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 – Credit Card Wars

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]]> http://www.straightpassthrough.biz/2008/04/05/regulation1/feed/ 0 Fraud Prevention Report http://www.straightpassthrough.biz/2008/03/21/fraud_report/ http://www.straightpassthrough.biz/2008/03/21/fraud_report/#comments Fri, 21 Mar 2008 18:16:26 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/fraud_report/ 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 form and they will send you and e-mail link to a .pdf version of the report.

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]]> http://www.straightpassthrough.biz/2008/03/21/fraud_report/feed/ 0 News: Concerns about Payments Fraud http://www.straightpassthrough.biz/2008/03/13/news-concerns-about-payments-fraud/ http://www.straightpassthrough.biz/2008/03/13/news-concerns-about-payments-fraud/#comments Thu, 13 Mar 2008 16:42:59 +0000 Robb Lejuwaan http://www.straightpassthrough.biz/news-concerns-about-payments-fraud/ 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.

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