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

Interchange Pass Through Pricing

The benefits of interchange pass through (often called interchange plus) are transparency and lower costs when compared to bundled or tiered pricing models. It’s safe to say that pass through pricing allows your business to get the best credit card processing fees, which is why it’s the only form of pricing we allow processors to […]

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Interchange pass through pricing is a form of credit card processing pricing that allows the actual cost of processing (interchange fees & assessments) to be passed directly to your business.

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Credit Card Processing

Don’t Lease a Credit Card Machine!

It’s that simple. The article below will provide plenty of reasons why you shouldn’t lease a credit card machine, and this settlement involving a large leasing company is further proof. Credit Card Machine Leases are Nonsense! Benefits of a Lease (According to Processors that Lease Equipment) “It’s Not the Agent, It’s the Processor” Getting Out […]

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Credit card terminal leases benefit processors not you. Don’t fall into the trap of leasing machines.

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Credit Card Processing

Visa Network Participation Fee

We’re leaving this article here for historical reference, but will not be updating it. Instead, new information about the Fixed Acquirer Network Fee (FANF) can be found at the post linked above. Visa has announced a new Network Participation Fee and pricing structure in response to the Durbin Amendment. Part of the amendment allows merchants […]

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Visa has scrapped what it was calling the Network Participation Fee in place of the Fixed Acquirer Network Fee due to become effective on April 1, 2012.

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Accounting and Finance, Credit Card Processing

IRS Merchant Reporting 6050w

If you have a merchant account, this information applies to you. Make sure your processor has your correct TIN and tax filing name. Note: The information herein does not replace the advice of a qualified tax professional. Talk to your accountant about the impact of 6050w and your responsibilities under tax law. Section 6050w Overview […]

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Processors must report all settled payment card transactions under section 6050w. And they must perform backup withholding at a rate of 28% for merchants that have incorrect TIN or tax filing names.

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Credit Card Processing

5 Great Ways to Get Ripped Off by Credit Card Processors

1 – Get bundled pricing. Bundled pricing is what you want if you’re a fan of hidden surcharges and paying (way) too much for credit card processing. Ready to get ripped off by credit card processors? Go for bundled (also called tiered) pricing. Type the term “credit card processing” into your favorite search engine and […]

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We’re always talking about how to lower credit card processing fees. In this post, we’ll take a break from the norm to discuss five sure-fire ways to get ripped off by credit card processors.

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Credit Card Processing, Legal

Minimum Charge for Credit Card Purchase

The short answer is: Yes and no. The longer answer is that it depends on the type of card. You’ll have to follow applicable rules as well. Credit cards: Yes. It is acceptable for you to set a minimum charge on credit card purchases as long as you abide by the stipulations as set forth […]

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Many businesses wonder: Is it legal to require a minimum purchase amount for card transactions?

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Credit Card Processing, News

The Dodd Frank Wall Street Reform and Consumer Protection Act Financial Reform and Your Business

Within that, a relatively small portion of the act – the “Durbin Amendment” – has made decisive and controversial changes in the way debit cards are processed. These changes were meant to lower the financial burden on businesses, though that has not always been the case. What is Interchange? Changes in the Durbin Amendment Passing […]

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The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in response to the late-2000s recession, contains the most comprehensive set of changes to financial regulation in the United States since the Great Depression.

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Press Releases

Many Processors will Profit from Durbin Fee Reductions

Leading credit card processing comparison Website CardFellow.com is cautioning merchants that they may not benefit from reduced interchange fees proposed by the Durbin Amendment. The online marketplace is advising merchants to switch to a credit card processor that…

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Leading credit card processing comparison Website CardFellow.com is cautioning merchants that they may not benefit from reduced interchange fees proposed by the Durbin Amendment. The online marketplace is advising merchants to switch to a credit card processor that offers interchange plus pricing.

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