104 posts for category "Payments"

Reporting Level II transaction data can result in lower interchange rates for purchases made with a corporate credit card. To qualify for level II the following data must be included with the transaction: Merchant Name, Transaction Amount, Date – these are all also required for level I and are captured and reported automatically by all […]

I am a Costco member and I like shopping at Costco because they generally have great deals on pretty much everything.  For example, this morning I went grocery shopping to buy some fish for dinner. Costco had an incredible price on a nice big piece of omega-3 rich salmon, yum, 2.38lbs for $16.68 ($6.99 / […]

Pizza is one of my favorite foods, my favorite pizza places here in Chicago are Coalfire and Pompei. Here is my estimate of how much an average pizza shop pays to accept credit cards: According to Entrepreneur.com, the average revenue of the 40,164 pizza restauranst in the US was $598K in 2007. The 2008 Hitachi […]

In the past I have written about the various ways of charging for credit card processing, such as Tiered Pricing and Interchange Plus (the most business-owner friendly way of pricing – why you want interchange plus). The least business-owner-friendly way of pricing is called Enhanced Recover Reduced. Below is a copy of a selling document that a major credit card […]

Interchange plus pricing is the most transparent form of pricing for credit card processing. While tiered and other forms of pricing mean processors can charge arbitrary markups, the processor markup for interchange plus pricing is fixed no matter what kind of transaction occurs. In fact, we feel so strongly about the fairness of interchange plus, that […]

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters.   This is a list of the largest ISOs in the country which includes only companies that do not do any of their own processing.  This is based on data from the Nilson Group for the year ended […]

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters. This is a brief description of how credit card processing works.  Credit card processing has two parts: Authorization and Settlement: Authorization through Settlement Keep in mind this all takes ~2 seconds for an online transaction and about […]

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters. Interchange Plus billing is the most transparent way to get billed (see “Interchange Plus“) because it clearly lays out what VISA and Mastercard are charging you (which isn’t negotiable) and what your Merchant Account Provider is […]

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