Credit Card Fraud Statistics (2024) The widespread acceptance of credit and debit cards has changed how we process payments. Cash represents just 20% of all in-person transactions, meaning plastic and digital wallets have penetrated far and beyond the ecommerce...
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...
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...
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...
Can You Pass Merchant Fees to Customers? Credit card processing fees are a pain for merchants. Merchant fees cost businesses more than $100 billion per year—and that’s just in the United States. If you’re reading this right now, there’s a good chance you’re paying...
15 Reasons Credit Cards Get Declined If your business accepts credit cards, you’re going to process some transactions that get declined. But understanding why credit cards decline will help you handle the situation appropriately. Credit card declines can be...
How Recurring Payments Affect Credit Card Processing Rates Setting up recurring payments has become a popular and profitable way for businesses across multiple industries to generate ongoing revenue. Recurring payments are often seen as a win-win for merchants and...
What is a Qualified Processing Rate? Qualified processing rates refer to the merchant fees that a business pays for a specific type of credit card processing, known as tiered or bundled pricing. Depending on the merchant account agreement and fee structure, the...
What is the Cheapest Way to Accept Credit Card Payments? Accepting card payments can be costly for many businesses. With average credit card processing fees ranging from 1.70% to 2.50% per transaction, card payments can take tens or even hundreds of thousands from...
10 Reasons Why Merchant Account Applications Get Denied Applying for a merchant account is exciting, as it’s a crucial step for accepting payments and processing credit cards. But some merchant account applications get rejected, which can be frustrating and...
