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Tag : credit card processing

How Does the Durbin Amendment Affect my Small Business? Part 2

Part 2

In the initial part, I discussed what the Durbin Amendment is and how it affects your organization. In this segment, I will go over why merchants aren’t saving beneath Durbin and what action it is possible to take to ensure your small business realizes the Durbin savings.

Why aren’t merchants receiving the Durbin Amendment savings? The very simple answer is the fact that it is truly up to your processor to pass along those savings. If they have not passed those saving along to you, then they've kept them for themselves. That is what we ...

How Does the Durbin Amendment Affect my Small Business?

Part One

What exactly is the Durbin Amendment? Senator Richard Durbin from Illinois introduced the amendment in to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed by Congress in 2010. The amendment gave the federal government the power to set interchange rates for debit card transactions. The amendment went into effect in October of 2011 and considerably lowered the debit interchange rates by almost 95%. 
You could possibly be thinking, my organization does not take debit cards. I do not have a pin pad or give cash back. The truth is that more than 50% of ...

Credit Card Processing for small business

The retail and business industry today continues to challenge itself by providing merchants with technology that can help them, no matter if they are considered to be small business, to run with the bigger corporations and companies.

One such technology that these businesses can use are credit cards. However the problem with credit cards is that it would require people to get the necessary affiliation before they can accept credit card payments on the fly. This is why there are a lot of new businesses that are called credit card processing for small business or better known as merchant services ...


Credit Card Processing Checklist

Follow these steps for smooth set up and processing of your account.

Set Up Checklist:

1. Do shop around and get multiple bids.  www.blindbid.com offers bid from the top processors. 

2. Do get completely setup at least two weeks before you need to process your first card.

3. Do get new processing equipment that fits your business needs and is PCI compliant. 

4. Do Accept American Express One Rate plan – this gives you the lowest American Express rate and consolidates your billing.

5. Do opt out of paper statements to save on your monthly statement fee. Use the ...


Merchant Cash Advance – To Avoid Fraud

Merchant Cash Advance (MCA) are also called as Business Cash Advance offers you simple and quick way to receive finance for a small and medium-sized firms by selling certain part of your credit card sales proceeds. 

• Merchant Cash Advance in technical terms is a purchase of all your future revenues rather than just a simple loan.
• Merchant Cash Advance (MCA) is not bounded by any financial rules
• Merchant Cash Advance (MCA) are not regulated by any federal laws governing the lending industry as it falls beyond any jurisdiction.

Merchant Cash Advance (MCA) Industry has touched $10 billion mark. Looking at ...


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