Surcharging vs. Cash Discounts in Credit Card Processing Credit card processing can be expensive for merchants, especially small business owners. If you’re on a tight budget, the fees imposed by credit card processing companies can significantly cut into your...
Payment Processing Industry News (July 2023) The month of July has been a busy month in the world of payment processing and fintech. We’ve seen new technology, processing rate increases, significant acquisitions, and more. Our team here at Merchant Cost Consulting...
Shift4 Payments: Rate Increases, Fees, & Updates (2024) Last Updated: 7/30/2023 Here at Merchant Cost Consulting, we’re always staying up to date with the latest updates, fees, and rate increases from credit card processors. Below you’ll find the most recent...
Everything You Need to Know About Liquidated Damages in Payment Processing The term “liquidated damages” is something a merchant never wants to see or hear. Generally speaking, there are two instances where liquidated damages come into play—when you’re signing a...
Acquiring Banks vs Issuing Banks in Credit Card Processing On the surface, credit card processing seems fairly straightforward. A customer buys something from a merchant, and their money ends up in the merchant’s bank account. But the transaction process for credit...
10 Facts About Digital Payments & E-Wallets (2024) Credit card processing, e-wallets, and Digital payment trends are constantly changing. First, it was cash and checks; then, it became debit and credit cards. Now consumers are ditching plastic altogether and...
Chase Payment Solutions Rate Increases, Fees, and Updates for Chase Merchant Services (2024) Last Updated: 7/17/2023 Chase Payment solutions regularly releases process changes and updates related to potential financial impacts for its clients. At Merchant Cost...
TMF and MATCH List in Payment Processing - Ultimate Guide Navigating the TMF/MATCH list can feel like a daunting task for merchants. Many businesses don’t even know about the Terminated Merchant File (TMF) or MATCH list until they’ve been told they’re on it. This...
Does Your Credit History Impact Merchant Account Approval? Bad credit can impact your ability to get a loan or a line of credit. But does your credit history matter when you’re applying for a merchant account? Whether you’re thinking of applying for a new merchant...
Early Termination Fees in Payment Processing Explained If you try to close a merchant account, you might be surprised to learn that you owe an early termination fee. This is a common cancellation fee in merchant agreement contracts, yet so many business owners...
