Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
Credit Card Processing
Before you get gouged by a so-called “five star” processor, be sure you know the motivation of the reviewer, what or whom the review is targeting, and how credit card processing fees actually work. What’s the motivation for the reviewer? Is the review targeting the appropriate company? Pricing and Terms are Set on Per-Business Basis […]
Think twice before staking your business’s credit card processing on speculative processor reviews. Most credit card processor reviews aren’t worth the virtual paper they’re printed on.
Credit Card Processing, Security and PCI Compliance
Unlike Target and Home Depot, small businesses don’t always have the money to cover the expenses of a data breach, and may take a bigger reputation hit if customers perceive your business as not secure. You might be considering breach insurance, assuming that will protect you in the event of a data breach. Many credit […]
In the wake of expensive, well-publicized data breaches like those experienced by Home Depot and Target, you may be nervous about your own business experiencing a breach.
Credit Card Processing
Define Best: What’s Really Important Best Rates — A Big Mistake Learn the Fundamentals of Processing Focus on Markup Pricing Model Terms Search Define Best: What’s Really Important The problem with the word “best” is that it’s subjective. Its meaning is unique to the person using it, and when it comes to credit card processing, […]
You won’t find the best credit card processing unless you define what “best” means for your business, and then learn the fundamentals of processing before setting out in search of a processor.
Credit Card Processing
You are virtually guaranteeing that you will overpay for credit card processing if you’re comparing processors based on which ones are willing to provide a free terminal. The Economics of “Free” There’s an Exception to Every Rule One-Two Punch: Free Machine & Cancellation Fee True Cost of a Free Machine = $5,700 EMV Chip Cards […]
Like the saying goes, “there’s no such thing as a free lunch.” Credit card processors recoup the cost of a free credit card machine through expensive tiered pricing and various other fees.
Credit Card Processing
If you’re considering a flat rate credit card processing company, here’s what you need to know. What is flat rate pricing? Flat Rate Pricing is An Illusion Truly Competitive Pricing vs. Flat Rate Pricing Interchange Plus Pricing Arguments for Flat Rate Pricing Known Costs Small Tickets What is flat rate pricing? Flat rate is an […]
Flat rate credit card processing is an expensive illusion based more on clever marketing than reality. What some companies advertise as a competitive flat rate is actually oversimplified and expensive pricing that conceals the true costs to process.
Credit Card Processing
What is Surcharging? Surcharging History Fast Facts on Credit Card Surcharges Surcharge Basics Surcharges vs. Convenience Fees States Where Surcharging is Banned State-Specific Rules California Colorado New Jersey New York Maine Texas Pros and Cons of Credit Card Surcharges How to Get Started The Don’ts of Surcharging Cards Alternatives to Surcharging What is Surcharging? Simply […]
Credit card surcharges, checkout fees, merchant surcharges – whatever you call them, the concept is the same: you add a fee when a customer uses a credit card. But are they legal? And more importantly, are they a good idea for your business?
To answer those questions, we’ll explore all aspects of what surcharging entails.
Credit Card Processing
From a business’ perspective, however, chargebacks can often be a costly hassle. The burden of proof to show that a customer has been rightfully charged falls on you, and when consumers successfully dispute charges, you lose both the product sold and the revenue from that sale. Even when a dispute is unsuccessful, the acquiring bank will withhold […]
The chargeback process is designed to increase consumer confidence — it’s very easy for credit card users to dispute charges, while businesses and banks have to do all of the legwork to figure out whether or not a transaction is legitimate.
Credit Card Processing
This article will give a sense of the players involved in keeping this system running smoothly, and shed some light on what credit card processing fees actually pay for. Card Brands (Visa/Mastercard) Issuing and Acquiring Banks Credit Card Processors/Merchant Acquirers Independent Sales Organizations (ISOs) & Member Service Providers (MSPs) Aggregators Integrated Software Vendors Card Brands […]
From a business’s point of view, credit card processing is a straightforward system — swipe, sign, and the customer leaves with their purchase. However, making a customer’s experience so hassle-free requires a complex array of companies working behind the scenes to ensure that credit card payments are processed securely and efficiently.
