Avoid Tiered Pricing in Credit Card Processing
Payment processing is an essential aspect of any business that deals with transactions, whether it’s a brick-and-mortar store or an online e-commerce website. Payment processors are responsible for processing credit and debit card transactions, as well as other forms of electronic payments, such as mobile payments and electronic checks. One common pricing structure used by […]
Are Payment Processing Fees Tax Deductible in USA and Canada?
As a business owner, payment processing fees can quickly add up and impact your bottom line. The good news is that in both Canada and the USA, payment processing fees are generally considered legitimate business expenses and can be tax deductible. Canada taxes and payment processing fees In Canada, payment processing fees can be deducted […]
How to Cancel Your Moneris Merchant Account
Breaking a contract without penalty can be a challenging and time-consuming process. However, for Canadian merchants who are looking to get out of their merchant account contract, there are several options available. In this article, we will provide you with a guide to help you break out of your merchant account contract with Moneris, as […]
Should my Business Accept Credit Cards?
Accepting credit cards has become a common practice for businesses of all sizes. While cash and checks were once the primary forms of payment, credit cards have quickly become a preferred method for customers. You can read more here about the declining use of cash and checks. In this article, we’ll explore the benefits and […]
How to Get Approved for a Merchant Account?
Getting approved for a merchant account is a crucial step for businesses looking to accept credit card payments from their customers. A merchant account allows you to process credit card transactions, which can increase sales and improve customer satisfaction. However, the approval process can be complicated and time-consuming. It’s important to know what you need to […]
The Best Way to Use Payment Data to Grow Your Business
The total number of digital payment transactions globally is expected to reach 1.5 trillion in 2023, up from 876 billion transactions in 2018. The payments market is huge. These trillions of transactions provide data that can be used to understand what has happened in the past and predict the future. Payment data analytics is about […]
Credit Card Processing for Insurance Firms
Insurance firms have increasingly been accepting credit cards as a convenient form of payment for their customers. Insurance firms, in the past, have been more cautious about accepting credit card payments, as they are often concerned about the associated processing fees. Despite this, since 2020, there has been a significant shift in the industry with […]
Credit Card Processing for Accountants and Accounting Firms
Many accounting firms accept credit cards as a form of payment. They have found that it makes it easier for customers, it speeds up collections, and it helps with reconciliation. Larger accounting firms have been more likely to accept credit cards as they have the resources and infrastructure to manage credit card payments securely and […]
How Merchants can Reduce Fraud in Credit Card Processing
Fraud in credit card processing is a significant problem that costs businesses and consumers billions of dollars each year. The exact size of the problem is difficult to estimate. Global card payment fraud is estimated to cost $32.34 billion in 2021 for merchants. That’s a staggering amount. In Canada, the Canadian Anti-Fraud Centre received fraud reports totaling […]
Which Industries are Adopting Credit Cards the Fastest in 2023?
Credit card processing is becoming more ubiquitous across various industries as cashless payment methods become increasingly popular. However, some industries are adopting credit card processing at a faster pace than others. Some merchants or industries are still slow to accept credit cards for several reasons. Some are concerned about high transaction fees. Credit card companies […]