104 posts for category "Payments"

At FeeFighters, we’ve been helping business owners comparison shop credit card processors for years. One complaint kept resurfacing over and over for online merchants: what to do about the gateway? Learn a little bit about a samurai economics mindset.

Lots of business owners ask us “how much does it actually cost to process a transaction?”. Sometimes they are just curious, and sometimes they want to know for purposes of evaluating what is a good deal. While none of the big credit card processing companies will ever come out and tell the world their cost structure (since […]

Visa and Mastercard both have special, lower interchange rates for small transaction sizes.  Visa and Mastercard tend to create new interchange categories when they want to attract a new kind of merchant that has not previously accepted cards.  Small ticket merchants (think convenience stores, parking meters, etc.) have historically been turned off by the per-transaction part of […]

This summer and autumn, interchange fees and rising gas prices have drawn some attention.  The majority of people pay for gas with a credit or debit card now and gas usually has pretty low margins for the retailer.  The economics of gas station operators have been severely impacted by this combination.   The National Association […]

PCI Compliance rules, designed to ensure that credit card numbers are not kept on merchants’ computers in a form that are easy to steal, is a good thing, nobody like having their credit card stolen and fraud hurts everyone.  However, it is expensive and complicated for everyone who accepts credit cards, in particular online merchants.  Most […]

One way that credit card processors justify their markup over interchange (which is commonly more than 0.50% – 50 basis points) is that they require the markup to cover the cost of fraud and returns, which sounds reasonable. In reality, the merchant bears the first responsibility for fraud and returns and the only time the […]

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters. Here is a list of the largest merchant acquirers in the U.S.  as estimated by the Nilson Report.  In this context the definition of Acquirer is a little bit strained, because it includes ISOs and processors […]

By default, merchant account providers require a personal guaranteefrom their customers.  The reason is that most small businesses would not be able to function without the continued involvement of the owner(s), so extending credit to a business without the owner as guarantor runs the risk that the owner could walk and stick the merchant account provider with liability. Merchant […]

Users often ask me how to tell an interchange plus quote from a tiered pricing quote. First, some background: Interchange is the wholesale rate your processor pays Visa and Mastercard (and is not negotiable) Interchange plus pricing is the best way to ensure you are not getting ripped off because it is completely clear how much of […]

Say PCI Compliance and most business owners will shudder. For ecommerce companies, there is an easy way to get PCI compliant using Samurai via our Javascript integration. Here's a video of Sean explaining exactly how it works.   Video Transcript: Hi, I'm Sean from FeeFighters and I want to tell you right now about what I […]

With all the chatter about consumer spending over Black Friday weekend, my thoughts turned to small businesses. More specifically, small businesses and credit card processing (are you surprised?). With a great influx in slaes over the holidays, I wondered how much extra small businesses were paying in unnecessary credit card processing fees? Turns out, it’s […]

FDMS Nashville is one of the major credit card processing networks(otherwise known as credit card processing front end), owned by First Data.   FDMS Nashville is one of the most commonly supported networks and works with lots of payment gateways and POS systems. First Data usually interacts with companies through banks and ISOs so if you want an FDMS Nashville […]

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