As a business there are many things to be careful of when entering into contracts and agreements.  Equipment Leasing might be on the top 10 list of shady deals or a Rip Off! Typically this involves a credit card terminal or other devices like a Clover Mini or Clover Flex.  It may also be a Point-of-Sale System. These equipment leases are NON CANCELABE for the term of the agreement!

This post is about how many processors use PCI as a way to charge you a fee and increase their revenue.  

PCI stands for “payment card industry” and it’s the first half of the acronym PCI-DSS. The second part stands for “data security standards.” While you may see the full term PCI-DSS, it’s more common to see just “PCI.” However, it refers to the same set of standards.

Fraud detection should be top of mind for every business, but particularly for those selling online. Start protecting your ecommerce business today with the following easy-to-implement fraud prevention tools and tips.

Let’s understand Interchange.  Interchange or Interchange Reimbursement is a fee charged by the card brands that the acquirer* pays to the card issuing bank on each sales transaction. Interchange Reimbursement is published information. 

Every year just with the Day Light Savings time Visa, MasterCard, Discover and American Express will make adjustment to the interchange reimbursement tables. Last year these major card networks decided, amid the pandemic, to hold off on adjusting interchange fees until April of 2021. What make this year stand out is the amount of the increase. Some estimates are a 20% increase for some business types.

In the news, we hear of security breaches from large retailers that credit card data is exposed and thus stolen. This data is then posted on the dark web to be sold to others that will try and use these credit card numbers for fraudulent purchases. Not all of the credit card numbers are still valid and usable. The fraudsters will go or call an unsuspecting business looking to purchase expensive items that can later be fenced and converted to cash.

Most people know that money isn’t clean but they also forget that their credit cards pass through just as many hands as the dollars and coins in their wallet. Likewise, the many touchpoints on a terminal—such as inserting a card, entering a PIN, and signing—heighten the need for a cleaner payment experience. Luckily, with contactless payments, proper sanitization, and other helpful tips, a cleaner way to pay is possible.

Upgrade time has come for any merchants, (or anyone), still using Windows 7. As of today, January 14th, 2020, Windows 7 will no longer receive security updates.
What this means for you is a far less secure system then Windows 10. I encourage you to research upgrading your systems to Windows 10.

The good news here is that Microsoft is still giving out free upgrades to Windows 10, you will just need to have a valid Windows 7 license to upgrade. Information for the upgrade can be found in the link below.
Windows 10 Upgrade

Call us to find out how we can help your business make and keep more money with First Coast Payments. Call 904-567-8612 or email info@firstcoastpayments.com.
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#creditcardprocessing #fernandinabeach #jacksonvillefl #nassaucountyflorida #pointofsale Cash Discount Point of Sale System

Why use a local service rep for your credit card processing? Because when you go elsewhere they don’t look out for you. Here is another example. Worldpay charges, disclosed in fine print, anger small U.S. merchants. Read more at Worldpay charges, disclosed in fine print, anger small U.S. merchants