Sign In

    Accepting Credit Cards? PCI Compliance a Concern for Small Businesses via @fbsmallbiz

    Last updated 3 years ago

    Accepting Credit Cards? PCI Compliance a Concern for Small Businesses | Fox Small Business Center

    http://fxn.ws/1gOMM25 via @fbsmallbiz

    Why So Many Retail Stores Get Hacked for Credit Card Data… http://buswk.co/1l8pnMm via @BW

    Last updated 3 years ago

    Why So Many Retail Stores Get Hacked for Credit Card Data…

    http://buswk.co/1l8pnMm via @BW

    AVS = Savings

    Last updated 3 years ago

    For credit card processing, in order to get the best rate for each transaction you want to swipe the card whenever possible. If you take orders via phone or the web, however, you can still save by providing Address Verification Service (AVS) information. Be sure in addition to getting the cardholder's name that you enter the billing address for the card as well. Small changes to how you process credit cards can save you big in the long run.

    POS (point of sale) Systems.. Avoid the pitfalls

    Last updated 3 years ago

    To find the right POS system for you, there is more than just the initial cost to consider. You want to look at the ease of use, both the initial cost and carrying cost (maintenance and/or monthly & yearly service contract fees), and whether or not the system can be programmed to work with any processor. This is important because if you purchase processing from the same sales office that you purchase your POS system from, they have you over a barrel. They can increase your processing costs right up to the point where it would be cheaper to get a new system than to pay their rates... and even then, if you lease the equipment and signed a long-term lease you may still be on the hook for it even if you don't use it. Always make sure you check the contract for early termination fees and return policies.

    Talk to other business owners in the same industry to see how happy they are with both their machine and the customer service they get when they encounter problems with the equipment. The last thing you need is to be stuck with equipment that doesn't suit your business and is costing you a fortune.

    Interchange fees increasing in April… or is your processor increasing profits?

    Last updated 3 years ago

    Interchange rates (the true cost to process credit cards from the card issuing banks) are usually updated semiannually, in April and October. Generally the changes are minimal increases. However, credit card processors use the opportunity to add fees and make increases trying to mask them as interchange. Processors have even gone as far as to add the word "Interchange" to their surcharge to try to make it seem like a pass-through cost instead of an additional cost they are using to increase profits.

    Pay close attention to your April and October statements to see if there are any new fees that show up or increases to your processor's rates. Mastercard and Visa post their interchange rates on their websites in a downloadable pdf for merchants. 



  • Hours:

  • Closed Sunday
  • 8:00 AM to 6:00 PM Monday
  • 8:00 AM to 6:00 PM Tuesday
  • 8:00 AM to 6:00 PM Wednesday
  • 8:00 AM to 6:00 PM Thursday
  • 8:00 AM to 6:00 PM Friday
  • Closed Saturday


Links

  • Recent Posts
    • Loading posts... Spinner
  • View All
  • Recent Comments
    • Loading comments... Spinner
  • Popular Tags
    • Loading tags... Spinner