Credit Card Processing

Mastercard and Visa Limited Acceptance Programs

Let’s take a look at what you’ll need to do if you want to accept only one type of card. What is Visa Limited Acceptance? Mastercard Acceptance Factors to Consider Cost Savings Customers’ Payment Preferences Competitors’ Card Acceptance Surcharging Rules Accepting Debit Cards Only Accepting Credit Cards Only Possible Drawbacks For Debit Only For Credit […]

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As a small business owner, you may wonder if you can accept only debit cards or only credit cards. The short answer is yes, but there are rules you’ll need to follow and considerations before making that decision.

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Credit Card Processing, News

New Mastercard Bins – 2 Series

What is a BIN? Mastercard’s New BINs BINs by Card Brand What do I need to do to accept the new Mastercards? Ecommerce Businesses What is a BIN? A Bank Identification Number (or BIN) is the first 6 digits of a credit card number. BINs identify the bank that issued the card and help ensure […]

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In summer 2017, Mastercard began issuing cards with a new bank identification number (BIN.) Where previously Mastercards started with the number 5, some cards now begin with the number 2. Find out what this means and get details on how to make sure your business is ready to accept these new 2 series cards.

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Credit Card Processing

MasterCard’s Merchant Location Fee

Stay Informed We’ve updated this article several times and will continue to do so. Follow us on Twitter or Facebook for the latest news. Please let us know in the comments how you’ve been charged this fee. What is a Merchant Location Fee? When will I be charged the Merchant Location Fee? What does the Merchant […]

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In keeping with the steady flow of fee increases from the card brands, MasterCard has (very) quietly announced it will begin charging businesses an annual “merchant location fee.”

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Credit Card Processing, Legal

Home Depot Lawsuit Against Visa and Mastercard

Wal-Mart filed a similar suit against Visa in May. The Security Problem According to Home Depot Credit Card Companies’ Reactions The Monetary Problem According to Home Depot No Option Are PINs the answer? Prayer for Relief Visa and MasterCard Respond The Security Problem According to Home Depot Home Depot accuses Visa and Mastercard of being […]

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It’s a case of a home improvement retail giant versus two network payment processing behemoths. In mid-June 2016, Home Depot filed an antitrust lawsuit in federal district court in Atlanta against Visa and Mastercard, alleging credit card security is inadequate and exposes retailers and customers to hacking.

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Credit Card Processing, Security and PCI Compliance

Mastercard SecureCode and How to Use It

The card brands claim minimal impact on your customer’s checkout process while adding additional protection. But how does it work, and why should you care about the additional protection? Let’s take a look at what using Mastercard SecureCode entails and how it may help or harm your bottom line. What is Mastercard SecureCode? How is […]

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What is Mastercard SecureCode? How do you use it? These questions may be on your mind as a business owner in the internet age. If you sell products or services online, it’s worth your time to consider whether 3D secure technology is a good addition to your anti-fraud toolkit.

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Credit Card Processing, Legal, News

Visa, Mastercard Settlement & Your Business

The suit, which dates back to 2005, accuses the card networks and banks of conspiring to fix interchange fees that businesses pay to process credit and debit cards. The settlement is seen as a victory by many fighting for interchange reform, but at least three plaintiffs in the case feel it doesn’t go far enough. […]

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Visa, Mastercard and several of the nation’s largest banks settled an antitrust suit with a group of seven million retailers.

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Credit Card Processing

Enhanced Merit 3

Enhanced Merit 3 is a Mastercard interchange category. Interchange fees are essentially the wholesale cost of credit card processing and generate income for banks that issue credit and debit cards. The word “Enhanced” refers to the type of credit card, and “Merit 3” refers to how the card is accepted and processed. The Enhanced MasterCard […]

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Enhanced Merit 3 is a Mastercard interchange category.

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Interchange Fees

Mastercard Merit III Credit Card Processing Fees

Merit 3 is Mastercard’s way of referring to a card-present transaction for most restaurants and retailers. It can actually apply to several different interchange categories based on card type and other details. This article explains specific Mastercard interchange categories. If you’re not already familiar with interchange, it’s a good idea to start with our piece […]

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Merit 3 (or Merit III) is a Mastercard interchange category that determines credit and debit card processing fees.

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