Apple Pay, Android Pay, mobile wallets, EMV/chip cards, Square, —the way we pay and the way payments are accepted at businesses continues to change and evolve. Particularly, 2015 was a big year for EMV technology and 2016 is projected to … Continue reading
According to Digital Transactions, as of late August 2015 (the last time data was available) only 301,000 of the 8 million card-accepting merchant locations were activated to accept chip card payments. This number is low considering that on October 1st, … Continue reading
In our previous blog about EMV, we discussed the basics of how EMV technology and security will work; however, since our previous blog was published new information has been provided about how EMV will work specifically in relation to tipping … Continue reading
Have you seen PCI (Payment Card Industry) compliance and non-compliance fees on your merchant statements? Many business owners see these fees and wonder why they are necessary in addition to their processing fees. The purpose of PCI compliance is to … Continue reading
With the holidays upon us, many business owners find themselves overwhelmed with an influx in business, putting tremendous focus on providing an excellent service or product to their customers. In addition, business owners are individuals who work hard for their … Continue reading
The news continues to be filled with information and excitement surrounding Apple Pay. Apple Pay is transforming the industry, not necessarily because of new technology, but because Apple Pay has the brand clout and equity to drive demand. While consumers … Continue reading
Each April and October the card brands make updates to the interchange fees paid by all merchants. These fees are actually billed to the merchants acquirer/processor who then marks up these rates and adds their own fees before passing it … Continue reading
By: Tom Wimsett The Durbin Amendment: Two years after Implementation…..THE WINNERS AND LOSERS July 29, 2013 marks the second anniversary of the Federal Reserve’s ruling affecting the “interchange fee” essentially paid for by merchants whenever a merchant accepts a debit card as payment … Continue reading