Interchange fees play a crucial role in the world of financial transactions, yet many people are unaware of their existence and significance. In this comprehensive guide, we will delve into the intricacies of interchange fees, exploring what they are, how they work, and why they matter. We will also examine...
What is EMV Compliance Law and Should your Business Worry about it?
The world of payment processing has undergone significant changes in recent years, with the introduction of EMV technology being one of the most notable developments. EMV, which stands for Europay, Mastercard, and Visa, is a global standard for chip-based payment cards and the devices that accept them. EMV compliance law...
What are EMV Chip Cards? A Complete Guide
In today's digital age, the need for secure payment methods has become increasingly important. One such method that has gained widespread adoption is EMV chip cards. EMV, which stands for Europay, Mastercard, and Visa, is a global standard for credit and debit card payments that utilizes embedded microchips to enhance...
Virtual Terminal vs Payment Gateways: A Detailed Comparison
In today's digital world, businesses have more ways than ever to accept payments, but choosing the right payment solution can be tricky. If you’ve come across terms like virtual terminals and payment gateways, you might be wondering: What’s the difference, and which one do I need?A payment gateway is the...
What Are Basis Points In Credit Card Processing?
Credit card processing is an essential aspect of modern business operations, allowing merchants to accept payments from customers using credit or debit cards. While many merchants are familiar with the concept of credit card processing fees, fewer may be aware of the role that basis points play in determining these...
Level 2 Data Processing: What It Is and How It Can Help Your Business?
In today's digital age, businesses are generating vast amounts of data on a daily basis. This data holds valuable insights that can help businesses make informed decisions and gain a competitive edge. However, the sheer volume and complexity of this data can be overwhelming, making it difficult for businesses to...
Flat-Rate Credit Card Processing: Pros, Cons & Alternatives
Flat-rate credit card processing is a pricing model that has gained popularity in recent years, particularly among small businesses. This model simplifies the complex world of credit card processing fees by charging a fixed percentage or flat fee for each transaction, regardless of the type of card used or the...
What Is an Electronic Benefits Transfer (EBT)?
Electronic Benefits Transfer (EBT) is a system that allows recipients of government assistance programs to receive and use their benefits electronically. It is a convenient and secure way for individuals and families to access and manage their benefits, such as food stamps or cash assistance. EBT has revolutionized the way...
Accepting EBT For Small Businesses: A Complete Guide
Electronic Benefit Transfer (EBT) is a system that allows recipients of government assistance programs, such as the Supplemental Nutrition Assistance Program (SNAP), to make purchases using a debit card. EBT has become an essential tool for low-income individuals and families to access nutritious food and other essential items. For small...
Mobile Payment Processing – A Complete Guide
In today's digital age, mobile payment processing has become an integral part of the business landscape. With the increasing popularity of smartphones and the convenience they offer, more and more consumers are opting for mobile payments over traditional methods. This comprehensive guide aims to provide a detailed understanding of mobile...