How Do Card On File Transactions Work? In today’s modern world, businesses are constantly looking for ways to improve the customer experience. Streamlining the checkout process is just one example of this—and card-on-file transactions help make this possible. The...
Payment Processing Industry News - October 2023 Beyond helping companies save money on credit card processing, our team here at Merchant Cost Consulting is constantly keeping our eye on all the latest news, updates, new fees, rate increases, partnerships, industry...
Who Pays For Credit Card Fraud? More than 65% of all credit card holders have fallen victim to fraud at one point in their lives. Credit card fraud in the US resulted in roughly $5.72 billion in losses last year alone. The rate at which credit card fraud has grown...
Top 11 Hidden Fees in Payment Processing Credit card processing fees are simply part of doing business in the modern era. If you want to provide your customers with a smooth and convenient way to pay for goods or services, then you’re going to pay processing fees...
Beginner’s Guide to Credit Card Surcharging Surcharging has been a hot topic lately for consumers and merchants alike. Some small business owners implement a surcharge to save money on credit card processing. What is a surcharge? In short, it’s an extra fee added...
Credit Card Assessment Fees Explained Credit card merchant fees are always changing. As a business, it’s important to understand how all credit card merchant fees work, and which processing fees are negotiable. Understanding credit card merchant assessment fees is...
Credit Card Authorization Explained Credit card authorization is required for every credit and debit card purchase. So if you’re a business that accepts credit cards or a consumer that uses credit cards to make purchases, you’ve been involved in the credit card...
Most Common Interchange Downgrades If your business accepts credit cards, you probably have a basic understanding of interchange fees and rates. Interchange rates are set by the credit card companies. The fees are based on the category of each transaction, which...
What is Interchange Plus Pricing? Interchange plus pricing is commonly used by credit card processors to determine the per-transaction rates paid by merchants. But it’s just one of several different contract structures that businesses might be presented with when...
Card Present vs. Card Not Present Transactions On the surface, the difference between “card-present” transactions and “card-not-present” transactions may seem obvious—the card was either present when the payment was processed or it was not. But the differences...
