We have tried to cover the most common terminals in use. Every effort has been made to give accurate directions. There can be slight variations based on processor programming. If yours is not listed or if you do not wish to attempt to do this yourself, please call me and I will be glad to assist.

Perhaps you can remember back when you got your first computer let’s say around 20 years ago?  How about your first cell phone?  Was it a flip phone just making phone calls?  How well would your old computer work today assuming it was still available?  Of course it could not do much in the world today.  In a similar way this is the problem with the credit / debit cards we are using today.  It is a technology from the 20thcentury, operating in a much advanced 21st century. The magnetic stripe card we use today: the technology was developed back in the 1960’s and the ability to apply it to a plastic card came about in mass production in the 1970’s.  The data from these cards can be easily copied and reproduced to another plastic counterfeit card.  Until the “owner” of the card realizes the card data was stolen, the card can be used to purchase items.  Typically the fraudsters will resale these items for cash.

It rarely makes sense to lease a credit card terminal. If you are dealing with a reputably merchant service company you can purchase credit card terminal for way less than leasing. The leasing company is not the real problem; it is the merchant service company that “sells” the lease.

Just like in previous year the card association has updated or added some the interchange categories. See below. This is all we could find that was changed. What will almost certainly happen as in years past, many ISO and service providers will use this as a reason to charge you more. With our interchange plus pricing arrangement, we do not charge you more for our processing. Do you know how your processing company handles these changes? Maybe it is time to let us help you with a rate review. Call us today, to save for tomorrow.

Miscellaneous Changes
• Business Standard transactions are now broken down into 3 categories based off of dollar amount.

​MasterCard New Categories
• Business Debit/Business Prepaid/Large Market-Healthcare (1.00% + $0.00)
• Business Debit/Business Prepaid/Large Market-Healthcare Maximum (0.00% + $5.00)

Just like in your business you want and need to make a profit to pay overhead and expenses. This is true in the credit card processing business for the company that is providing the service.  With interchange plus pricing you will see the mark up because of the transparency.  

In the program guide that every merchant signs and agrees to states, “IF THE TERMINAL FAILS TO READ THE MAGNETIC STRIPE OR IF YOU ARE REQUIRED TO OBTAIN A VOICE AUTHORIZATION, THEN YOU MUST IMPRINT THE CARD.”

When an account is approved a “merchant metal plate: is mailed out.  Not only should you have an imprint of the card, but the merchant info from the “plate” should also be included.  Now is a good time to pull this back out and be sure you have an imprinter and imprinter slips. If you need help with this let me know.  Let me know if you want a full copy of the guide.

Fighting fraud is all of our responsibility and a little diligence on your part could save your business hundreds or thousands of dollars. Don’t be shy about contacting a Risk Representative at Capital Bankcard if you are unsure about an order or transaction. We can help you determine if the transaction is legitimate and give you guidance on steps you can take if you are suspicious.

Having trouble getting financing from a bank? You’re not alone. So far in 2015, big banks have approved only 21.7% of small business loans. Despite a recovering economy and an increasing demand for small business credit, banks have become less and less inclined to lend to small businesses.

The holiday gift card season is here.
Each year, gift card sales go up by about 10% over the previous year. Ever wonder why the big restaurants have the promotion of purchase $100 gift card and receive an extra $20 gift card? Continue reading.

paymenteye.com

Our thoughts on this:

Subsidized pricing might work for a short time, but not forever. This is way Visa and MC work! There’s no secrets, no special rates or double secret Interchange. You either make money or you do not. You cannot get any work-around to the pricing that they charge. Square will be the next to increase rates (after IPO).