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Online vs. Offline Debit Transactions

Online vs. Offline Debit Transactions

Debit transactions are generally processed online or offline. To authorize an online transaction, a customer must submit a personal identification number, or PIN, at the point of sale. With an offline transaction, the customer completes the sale by signing their receipt. Both are legitimate debit transactions that businesses can use. Here’s a look at the pros/cons of online vs. offline credit card transactions: The Difference Between Offline and Online Payment … Continue reading “Online vs. Offline Debit Transactions”

Everything You Need to Know About Credit Card Processing

Everything You Need to Know About Credit Card Processing

Credit card transactions might seem fairly straightforward. Your customer inserts their card into the EMV card reader, the machine transmits the information for payment processing to your merchant services providers, and the payment is approved. Yet, there is much more going on behind the scenes that you may not understand or be fully aware of. Aside from chip-based transactions, there are others you may perform, such as swiped payments or … Continue reading “Everything You Need to Know About Credit Card Processing”

EMV Compliance Deadline for Gas Stations Update

EMV Compliance Deadline for Gas Stations Update

The deadline for EMV compliance for gas stations has come and gone; it was April 17, 2021. This due date was extended from October 2015, initially, to October 2017 to give gas station owners time to get their outdoor pump card readers compliant. It was extended a second time to October 2020. Yet, the global COVID-19 pandemic caused concern for gas station owners, so the deadline was moved a third … Continue reading “EMV Compliance Deadline for Gas Stations Update”

The Complete Credit Card Processing Guide to Credit Card Networks

The Complete Credit Card Processing Guide to Credit Card Networks

When was the last time you used your Chase card or your Capital One card? If you had to stop and think about it for a moment, you would not be alone. This is because most people do not think about the bank name on their cards. Now, if we asked you when was the last time you used your MasterCard or Visa, you probably would be able to remember … Continue reading “The Complete Credit Card Processing Guide to Credit Card Networks”

10 Frequently Asked Questions About Payment Processing

10 Frequently Asked Questions About Payment Processing

As a merchant who is currently researching payment processing services, you probably have more than one question. These top 10 questions to ask a merchant account provider will help you choose the right merchant processor. 1. How Do I Know Which Payment Processor Is Best? You’ve probably already discovered that there is a sea of processors and methods for accepting card payments out there, but how do you choose the … Continue reading “10 Frequently Asked Questions About Payment Processing”

What Is a Chargeback and What Do They Mean for Business Owners?

What Is a Chargeback and What Do They Mean for Business Owners?

Chargebacks protect consumer interests by allowing customers to receive a credit card refund on fraudulent transaction amounts or insufficient purchases. An example of an insufficient purchase might be a missing delivery or an item that is damaged. All credit card chargebacks begin when a customer disputes a charge. The initial dispute may result in a merchant refund instead of a chargeback. Merchant refunds involve a business directly refunding a customer. … Continue reading “What Is a Chargeback and What Do They Mean for Business Owners?”

Protect Your Customers with Secure Payment Systems

Protect Your Customers with Secure Payment Systems

In a world driven by online transactions, data protection and security are more important than ever before. Not only is it critical to protect your customers’ financial and personal data, it’s just as important to protect your business as well. With secure payment systems, you can protect your customers and your business from the risk of a data breach or hack. As an ever-growing number of consumers are using credit … Continue reading “Protect Your Customers with Secure Payment Systems”

How to Manage Chargebacks for High-Risk Accounts

How to Manage Chargebacks for High-Risk Accounts

In the payment processing industry, high-risk accounts are notorious for having a higher chargeback rate than other types of accounts. Chargebacks are costly and can jeopardize the status of your merchant account. How they affect you depends on the category a payment processor has put you in. It’s always best to avoid a high chargeback merchant account, but, if you’re in a higher risk industry, managing chargebacks requires understanding a … Continue reading “How to Manage Chargebacks for High-Risk Accounts”

How to Get the Lowest Credit Card Processing Fees

How to Get the Lowest Credit Card Processing Fees

Whether you own and operate a food truck, small retail business, or online e-commerce store, one thing is for certain: You need to accept debit and credit card payments to attract customers. Processing these types of payments is not free. Your business will require a merchant services account and must pay various transaction fees. This is why small business owners are constantly shopping around for the lowest credit card processing … Continue reading “How to Get the Lowest Credit Card Processing Fees”