What are interchange fees and how they work
Businesses need to pay an interchange fee for every credit card transaction. The interchange fee is the majority of the cost to businesses for payment processing. The businesses pay interchange fees, not the consumer. Many things can affect the interchange fee amount. First we will start off with a few basics of interchange fees. What […]
Credit Card Processing Transaction Types
Credit card processing has several different types of transactions that are used for different scenarios at a point-of-sale. The most common is a “sale”, but there are several others like refunds, voids, etc. This is an overview of the transaction types in payment processing. Sale (or Purchase) The most commonly used transaction type by merchants […]
What are EFT and ACH in Payments?
What does ACH and EFT mean? ACH stands for Automated Clearing House, which is an electronic network used for financial transactions in the United States. ACH transactions enable the transfer of funds between banks or financial institutions through a batch processing system. It facilitates various types of transactions, including direct deposits, bill payments, business-to-business payments, […]
Best Practices for Card-Not-Present, Remote, and Online Payments
Whenever you manually key in a credit card number in a payment terminal, have an online transaction, complete an order over the telephone, process a recurring payment, or use a credit card that is stored on file with your business, that is a card-not-present transaction. Any credit card transaction that you process where you are not […]
How to pick the best credit card machine for your business
Credit card machines, also known as payment terminals, are critical for in-person purchases. They act as the point of sale and interaction with your customer. Picking the best credit card machine comes down to a few guidelines that we’ll cover here. Mobile or countertop credit card machine You first need to determine where your customers […]
Integrating Payments into B2B SaaS and Software Companies
Online software services have been on the rise since the advent of the internet. Online services built specifically for businesses have been growing significantly since 2010. In 2020, the global pandemic, unfortunately, forced many businesses to cut in-person or physical contact. This required businesses to adapt. It created new opportunities for online businesses to emerge. […]
Contactless Payment Options that Make Credit Card Checkout Safer
People are now expecting the checkout process to be touchless. The concerns of health, safety, and minimizing the transmission of disease are top of mind. Consumers want to minimize what they touch when shopping. This includes touching the credit card machines. Thankfully there are several credit card processing options to bring touchless checkout experiences. Contactless […]
What is EMV in Payment Processing?
EMV is a secure payment technology standard that is used worldwide. EMV is managed by a handful of credit card networks: Visa, American Express, Discover, JCB, Mastercard, and China UnionPay. EMV stands for Europay, MasterCard, and Visa, who were the original founders in 1994. How can I do EMV transactions? EMV transactions are commonly thought of […]
Time to get a contactless payment system in Canada
When you pay for something at the store, it has become a relief for consumers, and the merchant, when the payment terminal supports contactless payments. Contactless payments are faster and cleaner. Both of these are critical to providing safer payments in a COVID world. From a CBC news article titled “What’s the germiest surface in a supermarket? […]
WordPress payments and online credit card processing
WordPress is one of the most common platforms to run websites. There are around 450 million websites that use WordPress. That means around 20% of the internet runs on WordPress. This is one reason we put extra effort to make it simple to take online payments on your WordPress website. There are several options to […]