President Barak Obama signed into law on May 22, 2009, the Credit Card Accountability Responsibility & Disclosure Act.  This sweeping legislation has significant implications for consumers, banks, and many businesses who issue gift cards.

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Pricing in the credit card processing industry is very complex and most merchant statements do not make it any easier to understand. There are so many technical and industry laden terms (Interchange, qualification tiers, downgrades, batch fee, ACH fee, authorization fee, settlement fee, AVS fee, PCI compliance fee, etc.) that even a sophisticated financial manager can get cross-eyed. So how do you really understand your true cost of credit/debit card processing, and then use that knowledge to ensure that your company is getting the best value for merchant services? This article will help you understand and manage the effective cost of different payment cards. Continue Reading»

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Wholesale clubs like BJ’s, Costco and Sam’s provide fantastic value when you want to buy in bulk, but how competitive are they when you are looking to buy merchant services for your business? Continue Reading»

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The use of ATM or PIN-based debit cards in the U.S. has been rising faster than signature debit cards and credit cards over the past decade. Merchant sales volume for PIN transactions has been growing 21% annually since 2000, slightly ahead of signature debit and significantly ahead of credit cards. And, according to a recent study by Star electronic funds transfer (EFT) network, consumers preferred PIN debit over signature debit, with 54% opting for PIN and 38% for signature. This trend is great for both consumers and merchants. Continue Reading»

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