Credit Card Processing Blog Posts | Page 9

In this article, we’ll review the laws and agreements that govern setting a minimum amount on credit and debit card transactions. We’ll also discuss the pros and cons of doing so, even in situations where it’s perfectly legal. After all, you don’t want to risk losing sales when customers either can’t or don’t want to buy enough items to meet your required minimum. Finally, we’ll review the differences between setting a minimum purchase requirement on credit card and debit card transactions.

This post aims to clarify any confusion regarding why and how a CVV (or CVV2, CVC, or CID) number is vital for your small business. Because payment companies mandate all merchants to collect the credit card CVV code during online or manual card entry, you’ll need to find a payment processing company that’s up to date with the latest policies.

A credit card refund fee is a penalty fee on refunded transactions and are charged by credit card processing companies. In most cases, merchants will not have to pay a credit card refund fee, but they will not be refunded the processing costs they paid during the initial transaction.

What is PCI compliance? What does it mean? Is it mandatory for businesses? Arming yourself with a basic understanding of PCI can help you navigate a lot more than you think when it comes to choosing the payment processor, merchant account, or outside payment security specialists you may need. Here’s what you need to know about all things PCI-related.

If you’ve been reading about credit card processing, there’s a decent chance you’ve come across the term payment service provider (or PSP). While “payment service provider” may be used interchangeably with terms like “merchant account” or “payment processor,” it actually refers to a specific type of payment service.

In this article, we’ll walk you through the process of applying to become an authorized EBT retailer and discuss the hardware requirements you’ll have to meet before you can accept EBT payments. We’ll also recommend some top-rated merchant service providers that offer support for EBT payments at a fair and reasonable cost.

Credit card tokenization involves the use of systems that replace credit card information with random letters and numbers. Ready to learn more about tokenization and how it can keep your business — and your customers — from falling prey to cybercrime and fraud? Read on to discover what a token is and how tokenized payments work.

Text payments offer potential growth for many other types of businesses, too. Pizza shops, salons, or any business that has ‘regulars’ could benefit from text payments.

There’s no one-size-fits-all answer to the question of whether debit card merchant fees are worth the cost, but for the majority of retailers, the answer will probably be yes. Due to a combination of regulation and fraud protection, debit card transactions are frequently cheaper for merchants to process than credit cards.

Both Stripe and Square offer powerful, full-service third-party payment processing APIs. Square has a pretty clear edge when it comes to processing in-person payments and being ready to go right out of the box. Stripe’s robust multicurrency and payment method support, on the other hand, can give it an edge in international eCommerce. Read on for a full comparison.