Credit Card Processing | High Risk Credit Card Processing | Card Processing Fees

Credit Card Processing has seen a lot of changes in the last 20 years.  From merchants processing carbon copies on a knuckle buster to the newest and greatest EMV technology. But how did we get there? Old vs New Credit Card Processing Technology It has been a long journey a few bumps and bruises as well as advances in technology that hve made most electronic credit card processing equipment we use today smaller and faster and more surce. It seems that security has been at the fore front of the majority of changes in merchant services so I will  keep this piece mostly focused on the events and the reactions in our industry and how this helped to shape where we are today. First off we all know that swiping a carbon copied credit card on the old knuckle buster was probably never going to be considered ultra safe and secure but the thieves and scammers sped up the race to electronic transactions by rummaging thru garbage cans for the transaction carbon copies made dup...

Credit Card Processor It is known by some, but not all, that businesses pay fees in order to accept credit cards as a form of payment. In fact, over 7 million merchants in the U.S. accept credit cards. During in a recent annual survey it was found that business owners collectively paid over 30 billion in credit card processing fees. Despite the size of the industry, it’s a mystery to most who is pocketing all this money and how prices are determined and reported. We will provide some context about where credit card fees come from, who’s making the money, and how fees and rates are determined. The financial institutions that issue credit and debit cards are the biggest benefactors.   Visa and MasterCard are membership associations owned by the issuing banks, and collectively own roughly 75% of the credit cards accepted in the marketplace. For example, Visa is a membership association of over 13,000 banks nationwide. Accept Credit Cards The frustration with...