Fees and Surcharges for Merchant Accounts

Posted on January 21, 2013 by Patrick Hare

Looking to save money on credit card processing? When reviewing any merchant account offer, it pays to look at the total fee structure in addition to the rates charged on credit cards. Surcharges may be where your credit card processor makes most of its money. It should be noted that some fees are passed along from credit card associations like Visa, American Express, Discover and MasterCard, so not every fee is negotiable. Here are some common fees and surcharges that you may find on your statement: Annual ...Read More

Are You Ready For The Holiday Shopping Rush?

Posted on October 10, 2012 by Patrick Hare

The holiday shopping season may not be officially underway, but there are plenty of signs that shoppers are gearing up for another frenetic buying cycle. Christmas Trees, wreaths, menorahs, and other seasonal displays are already prominent in retail stores. Savvy shoppers are buying for the kids on their Christmas lists, and “Black Friday” rumors have already started “leaking” from the big box stores. If you are a retailer, you are probably gearing up for the rush by hiring seasonal workers ...Read More

What Businesses Are Considered High Risk?

Posted on October 8, 2012 by Patrick Hare

Note: To see a sampling of low-risk business models accepted by Capital Processing Network, please click here! At Capital Processing Network, we are able to help low risk merchants save money on credit card processing. However, many merchants have no idea whether they fall into low-risk or high risk categories, and therefore may be overpaying for credit card processing if they are lumped in with merchants who have a higher risk of chargebacks or fraud. It should be noted that the term “High ...Read More

With Billback, Your Actual Rate May Be Much Higher

Posted on September 20, 2012 by Patrick Hare

Many banks and credit card processors use a “billback” model when charging customers for their merchant account fees. Billback is popular among these companies because they can advertise a low rate, and then still recoup surcharges (plus markup) on the next month’s statement. One of the major issues with billbacks is that transaction costs are reflected over the next two statements, but the original total dollar amount they are based on is not shown. This means that you often have no idea ...Read More

Is Credit Card Processing Software As Safe As A Terminal?

Posted on July 24, 2012 by Patrick Hare

A lot of businesses prefer to process their credit card transactions using a virtual terminal or card processing software in lieu of a terminal. Many of them may only make a few transactions per month, or may not see the need to take up desk space with a credit card machine. While there are some advantages, and preferred uses, for software-based card authorization, it might make sense to get a credit card terminal and a few peripherals if your business has moved beyond the “home-based” designation. Card ...Read More

MATCH List Dangers – How To Stay Off the Terminated Merchant File (TMF)

Posted on July 16, 2012 by Patrick Hare

For merchants, an appearance on the MATCH list, previously called the Terminated Merchant File (TMF), can be akin to a financial death sentence. If businesses, or their principal owners, have been found to abuse merchant accounts in the past, they may find it impossible to process credit cards through any other processing companies. Processors and the banks behind them are ultimately responsible for the costs of fraud and account abuse, so they have a vested interest in ensuring that every merchant ...Read More

Refunding Money to Gift Cards: What Credit Card Companies Recommend

Posted on July 5, 2012 by Patrick Hare

A recent news story in Arizona featured a complaint from a woman who got a couple of gift cards, bought an item, and then returned it. Unfortunately, the merchant did not understand the proper procedure for making a refund to multiple gift cards, and this caused one of the cards to essentially become unusable. Although this may seem like an unusual situation, merchants need to be ready for situations involving prepaid gift cards and debit cards. Now that prepaid cards are given as gifts, used ...Read More

Capital Processing Network: Complaints About Credit Card Machines

Posted on June 19, 2012 by Patrick Hare

At Capital Processing Network, we have complied a list of the top complaints new customers have with their existing credit card machines. The gradual acceptance of credit and debit cards over cash has led to increased wear and tear on terminals. The march of time has also rendered pushed some industry workhorses into obsolescence, so upgrades and performance enhancements just aren't possible on some models. In order to give our customers the best service, we ask our about what terminals they ...Read More

How To Accept Credit Cards – Tips For Credit Card Acceptance

Posted on May 3, 2012 by Patrick Hare

Accepting credit cards has never been easier. Thanks to recent trends in smart phones, individuals and micro businesses have gotten into credit card processing with accessories that plug into the headphone, USB, or data ports of cellphones, tablets, and iPads. For these businesses, the process for accepting credit cards is simple: an app is downloaded, a bank account number is entered, and a device is plugged into the phone. For traditional merchants, there are a few more hoops to jump through, but ...Read More

Capital Processing Network Scam Prevention Tips

Posted on April 18, 2012 by Patrick Hare

One of the unpleasant aspects of owning a small business that takes credit cards is that fraud happens. Business owners with merchant accounts have to take care to avoid scams and fraudulent charges, especially since they are responsible for the expenses associated with a chargeback. In addition, the cardholder may be protected from unauthorized transactions, but the merchant must cover the cost of stolen goods and services. Furthermore, a practice known as “friendly fraud” may happen when a ...Read More

Category Archives: Tips