7 things you should know before setting up ACH billing
If you’re considering setting up ACH billing for your business, there are some important unique facets you should know about before beginning the setup process. 1. ACH billing tends to have lower transaction fees Not always, but typically this can be true if the company or processor is charging a flat transaction fee. The larger ...
What is PCI Compliance and why is it important?
As a small business owner, how often have you asked yourself, “What is PCI compliance, and why is it important?” I would venture to guess not often, and if you have, you probably received a puzzled shrug as a response. If that’s the case, don’t worry, you aren’t alone. A recent study by The Green ...
Best ways to use electronic payment systems
For a lot of businesses who accept just cash and paper checks, adding an electronic payment system into the mix is a big step, and a decision not hastily made. There are obvious advantages to accepting credit cards – added convenience to your clients, decreased time to get paid, and decreased time spent going after ...
Same-store consumer spending still growing, but at a slower rate in May
Last week, First Data Corporation released its May 2011 SpendTrend analysis, which studies same-store consumer spending through various payment types at U.S merchant locations. According to the analysis, while same-store spending volume still grew year-over-year from May 2010, the 6.6% dollar volume growth rate was the slowest in 12 months. In addition, the year-over-year transaction ...
10 things you should know about opening a merchant account: Part 2 of 2
Welcome to second and final part of this week’s blog series. In part one of 10 things you should know about opening a merchant account, we discussed why underwriting is important, as well as some steps that should be taken prior to completing the merchant account application. Today, we’ll go over items 6 thru 10, ...
10 things you should know about opening a merchant account: Part 1 of 2
So you’ve started to grow your business, or maybe you’re just tired of using paper invoices and snail mail to collect payments, and you’re ready to open a merchant account to accept credit cards. Before you get started, it’s good to know what to expect when applying for a merchant account. How long will it ...
The chip has arrived for U.S. businesses, appropriately in Silicon Valley:
Silicon Valley Bank (SVB) announced yesterday that they will be offering the first chip-enabled credit cards to businesses in the U.S. The SVB release claims that the World Elite™ MasterCard® for Business with EMV chip technology will give their clients “additional security and applications as well as easier card usage when traveling in Europe and ...
