How Secure Is Your Web Application?

With the threats to data security in e-commerce, web application security should be the on the top of the list of concerns for any merchant. If a survey conducted by the Open Web Application Security Project (OWASP) is any example, organizations and merchants are only responding to security threats when they should be testing the […]

How Are Your Card Processing Fees Assessed?

Interchange fee” is a term used in the payment card industry to describe a fee that a merchant’s bank (the “acquiring bank”) pays a customer’s bank (the “issuing bank”) when merchants accept cards using card networks, such as Visa and MasterCard, for purchases. Although Visa and MasterCard determine Interchange rates, the fees are not retained […]

Terms to Know When Shopping for a Merchant Account

Over the past couple of weeks I have run into many merchants that feel ripped off by their merchant sales representative. Time and time again I hear “I just didn’t know what to ask for.” Like with any other purchase for your business, it is important to learn about your product. Here is a list […]

Can You Afford to Give Your Credit Card Processing to the Lowest Bidder?

With 80% of online shoppers using credit cards, you can’t afford NOT to take credit cards. Did you know that merchants offering credit cards as a payment option increase their profitability by estimated 50%? With the inherent advantages involving credit card processing, should you really go with your initial instinct and choose the cheapest option? […]

What are Non-Qualified Transactions and How Can Merchants Avoid Them

Non-Qualified:  I frequently get calls from merchants who say they were quoted one rate, but claim different rates are showing up on their statements. Unfortunately, merchants can experience a rate increase or surcharge because of the type of card your customers are using, such as sky miles cards and rewards cards. Another cause of increased […]

Validating Credit Cards

Credit Cards Fraud Risks With fraud on the rise, online merchants face increasing risks. In card-not-present transactions, there are two basic levels of credit card validation used to validate that credit cards presented for payment actually belong to the person initiating the transaction. The first involves using the Luhn algorithm (also called the “Mod 10 Method “), which […]

Merchant Services Affected by Financial Crisis

Credit Card Debt According to the Fox News, American’s total credit card debt has reached 1 Trillion– up 6 percent from a year ago and the highest ever recorded. This may sound like good news for the Acquirer industry but it may have a bad spiral effect. Some may speculate that our financial situation started […]

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