For U.S. payments businesses, it is very crucial to have a good rapport with banks. However, some merchants are tagged as high-risk due to factors such as rule non-compliance, financial instability, or fraudulent activities. The Terminated Merchant File (TMF) and MATCH (Member Alert to Control High-Risk Merchants) List serve here....
Net 60 Payment Terms: What They Are and How They Help Business Credit
Payment terms are core to any business deal because they are crucial for cash flow and financial partnering. Before the time to invoice any client arrives, it is very important for a business owner to understand what Net 60 means, the general payment period. Mastering this financial lingo gives you...
FANF Fee – Visa Fixed Acquirer Network Fee
The Visa Fixed Acquirer Network Fee (FANF) is a mandatory charge for businesses accepting Visa cards. Introduced in April 2012, FANF helps fund Visa’s network maintenance. The fee varies based on business type, transaction method (card-present vs. card-not-present), number of locations, and monthly Visa sales volume. While small businesses with...
What Is Interchange Plus Pricing
Interchange Plus Pricing is a payment processing pricing model that has gained popularity among businesses in recent years. It offers transparency and cost savings compared to other pricing models, making it an attractive option for many merchants. In this article, we will explore the basics of Interchange Plus Pricing, its...
How to Avoid Overpaying For Credit Card Processing
In today's digital age, credit card processing has become an essential part of running a business. Whether you operate a brick-and-mortar store or an online business, accepting credit card payments is crucial for attracting customers and increasing sales. However, many business owners find themselves overpaying for credit card processing without...
How to Handle a Credit Card Processing Outage
In today's digital age, credit card processing has become an integral part of conducting business transactions. However, like any technology, credit card processing systems are not immune to glitches and outages. A credit card processing outage refers to a disruption in the system that prevents businesses from accepting credit card...
How to Reduce Credit Card Processing Fees
Credit card processing fees can be one of the most significant expenses for businesses, especially for those dealing with a high volume of transactions. These fees, often a percentage of each sale, can eat into your profit margins if not managed carefully. Fortunately, there are several strategies you can implement...
Credit Card Processing: Everything you Need to Know
Credit card processing is an essential part of modern commerce, enabling businesses to accept payments from customers using credit and debit cards. This comprehensive guide will provide a detailed explanation of credit card processing, including its basics, the role of credit card processors, different types of processing methods, the step-by-step...