When soliciting and evaluating a request for proposal for a client’s credit card processing, I always let the client include any provider or salespeople she ... Read More »
Before you signed your current credit card processing agreement, did you tell the salesperson what you expected from him and the provider? Did you ask ... Read More »
The pay of most salespeople in the credit-card-processing industry is 100-percent commission. Salespeople therefore presumably do not want to lose an account from an ecommerce ... Read More »
This is the second installment of a 2-part series on common mistakes I see from merchants, when they negotiate the rates and fees of credit-card-processing ... Read More »
This is the first article in a 2-part series on common mistakes I see merchants make when negotiating rates and fees or analyzing the offers ... Read More »
Did you change credit card providers or renegotiate pricing with your existing provider in the last year? If so, did you verify that you were ... Read More »
Sales over the next three months will be crucial to the profitability of many ecommerce merchants. Credit card processing costs over this timeframe will affect ... Read More »
This article is mainly for brick-and-mortar merchants, regarding the October 1, 2015 fraud-liability rule changes and misleading sales tactics surrounding the changes.
The new rules are causing a ... Read More »
I presented a Practical Ecommerce webinar last month on lowering merchant processing costs. I’ve received several questions since then regarding my views on processing statements. ... Read More »
The fact that some credit card providers periodically sneak in cost increases to their merchants isn’t new. The providers often do this with a notice ... Read More »
This is a follow-up to two topics I addressed previously on credit card processing: EMV chip cards and the American Express OptBlue program.
I described earlier this ... Read More »
This article is mostly for brick-and-mortar retailers, as the October 2015 rule changes, which I discussed in "Part 1," are specific to card-present merchants. Read More »
This article is mainly for brick-and-mortar retailers. The upcoming October 2015 rule changes regarding EMV-enabled credit cards are specific to card-presentRead More »
Business-to-business merchants often overpay for credit card processing. There are many reasons for this, but one of the main ones is they choose a merchant ... Read More »
All ecommerce merchants should take the time to review their processing statements this month before the holiday shopping season begins. Merchants need to check for ... Read More »
September 22, 2014 • Phil Hinke
In “American Express OptBlue Program May Reduce Processing Cost,” my article in July, I explained how the new OptBlue program could reduce processing rates for ... Read More »
In “American Express OptBlue Program May Reduce Processing Cost,” my article last month, I explained American Express’s new program called OptBlue. This program should lower ... Read More »
American Express recently came out with a new program called OptBlue, where the final processing rates and fees paid by the merchant are set by ... Read More »
I want to thank Practical Ecommerce readers for their comments on my last article series, “How to Identify Dubious Credit Card Processing Fees.” I also ... Read More »
Editor’s Note: This is “Part 3” of a three-part series. “Part 1” and “Part 2” we published previously.
The purpose of this series is to ... Read More »
Editor’s Note: This is “Part 2” of a three-part series. “Part 1” we published last month.
The purpose of this series is to identify dubious ... Read More »
Editor’s Note: This is “Part 1” of a three-part series.
My article last month, “Credit Card Provider Sued for Deceptive Tactics,” generated questions from merchants regarding the suit, ... Read More »
Heartland Payment Systems, one of the largest credit card providers in the U.S., stated in a press release that it has filed a federal lawsuit ... Read More »
Last month, the U.S. District Court for the Eastern District of New York approved a settlement in a class-action lawsuit between merchants (as plaintiffs) and Visa, ... Read More »
Editor’s Note: This is part two of a two-part series. The first installment, “Feds Eyeing Credit Card Processing Industry?,” we published last month.
In “Feds Eyeing ... Read More »
Editor’s Note: This is part one of a two-part series.
The U.S. Federal Trade Commission included merchant account providers in two separate lawsuits it filed against ... Read More »
Now is a good time for merchants to start noting how their provider is handling card company fee changes as well as any future rate ... Read More »
September 19, 2013 • Phil Hinke
I have addressed the importance of understanding credit card processing statements in previous articles. However, I’ve recently seen statements with little or minimal detail that ... Read More »
On July 31, 2013 U.S. District Judge Richard Leon sided with retailers and rejected the debit interchange rate cap set by Federal Reserve under the ... Read More »
Merchants periodically send me their credit card processing agreements after they have negotiated new pricing with their existing provider or when changing providers.
Usually, I find that the merchant has done a good job of negotiating rates and monthly fees. However, some of the peri...
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