Keep Calm and Read Your Merchant Account Statement (Like a Pro)

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Your merchant account statement, or credit card processing statement, is a list of the total monthly credit card volume for your business. Similar to a personal credit card statement, it serves as an end-of-the-month recap of all activity pertaining to your account—but that’s about where the similarities end. Basically, your merchant account statement tells you […]

What Is the Meaning of CNP Fraud? Here’s How to Protect Your Business from Criminals

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Card-not-present (CNP) transactions are convenient for remote customers. But without proper security measures, these purchases are vulnerable to fraudulent activity. It’s crucial for merchants to understand the meaning of CNP fraud and how to prevent it.   Online shopping. Mobile apps. Auto-renewals. Say hello to card-not-present (CNP) transactions. For business owners like yourself, they’re [...]

Electronic Payment Systems: A Quick Guide for Merchants

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The purpose of electronic payment systems is to make monetary transactions faster and easier. Because so few consumers use cash or checks nowadays, merchants should have a basic understanding of how electronic payment systems work in order to safeguard their business and ensure a speedier, safer shopping experience for their customers. For the purpose of […]

Understanding Merchant Account Rates: The Basics

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Any business that sells products and accepts credit or debit cards deals with merchant account rates on a daily basis. The overarching term is applied to the various fees and charges associated with accepting and processing card payments. The rates you pay may vary based on a number of factors, such as whether your business […]

How to Handle Chargebacks and Protect Your Business

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Simply put, if you sell goods and services to people, chargebacks are a permanent part of the landscape. But while there’s no escaping them, there are steps merchants can take to minimize them. The “magic” industry-wide chargeback ratio is one percent. Anything below that is considered acceptable and anything above it can begin to cast […]

Visa’s New Chargeback Rules: What You Need to Know

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As technology changes and criminals find new ways of conducting the fraudulent activity, the rules for fighting disputes are also changing. In April 2018, in an effort to streamline the dispute resolution process and minimize the high cost of chargebacks for all involved parties, Visa changed their rules. Here’s what you need to know regarding […]

How Much Are Credit Card Swipe Fees Costing Your Business?

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As a business owner and consumer, “I hardly ever carry cash” is probably something you hear (or say) frequently. Everywhere you make a purchase today — whether it’s a shopping mall, grocery store, restaurant, outdoor festival, or even a parking meter — chances are you can use a credit card to make the payment. Most […]

A Quick Primer to Understanding Payment Processing Agreements

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Despite the rise in alternative payment methods, credit and debit cards remain the most popular forms of payment among modern consumers. Accepting card payments requires retailers to choose a payment processor to handle all of their credit and debit transactions. When they do, that processor will present them with a payment processing agreement (sometimes called […]

A Surge in Online Shopping Means a Higher Risk for CNP Fraud – How Do You Know Your Business Is Protected?

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eCommerce, while still accounting for a small percentage of the global payments segment, is growing at a steady pace. In addition to the ease and convenience of shopping online, consumers have grown more confident about making purchases over the internet, believing that advancements in digital security will protect their personal information from falling into the […]