Contents tagged with Merchant Rates

  • Alert! Risky business to operate insecure payment software

    By now all merchants should understand the importance of securing cardholder data.  Like other industry leaders, Vantage has been communicating constantly the need for merchants, particularly those using any type of PC based point of sale payment system connected to the internet to accept credit and debit cards, to secure their systems and networks and comply with the Payment Card Industry Data Security Standards.  

    Our intent with this blog entry is to make clear to the merchant community the full financial risk of a breach.  If mag-stripe data is stored on your system's hard drive or log files and this data is stolen from your system, criminals can manufacturer counterfeit cards and use these counterfeit cards at stores to buy … more

  • PIN Debit Requires Analysis

    Effective April 4, 2008, Interlink and Pulse PIN networks dropped the max calculation from their fees for retail merchants. PIN debit has been a low cost alternative to signature debit (check cards) specifically on high ticket items. The primary reason was that the PIN networks capped the costs (ex. $0.65 max). PIN network "Interchange" has continued to increase to compete with signature debit (remember Interchange is paid to the issuers and issuers prefer to issue and promote cards that pay more when used). PIN networks continue to publish more complex Interchange charts with more categories based on type of industry.

    While networks like Star continue to have max fee caps in place, the recent removal by Interlink, the largest PIN debit network, will put further pressure on all networks … more

  • Discover Network Card Processing

    Vantage Card Services, is pleased to announce that we now offer Discover Network card acceptance as an integrated processing solution to merchants, which includes one source for settlement on a single statement as well as one source of customer service for your authorization, chargeback processing and risk management needs. Check your Discover rates at MerchantRates.com now.

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  • Credit Card Fair Fee Act would regulate fees

    Credit-Card Wars The Wall Street Journal: At the behest of a coalition of U.S. retailers, House Democrat John Conyers of Michigan and Republican Chris Cannon of Utah have introduced the Credit Card Fair Fee Act that would regulate fees that the credit-card industry charges to retail stores.

    As more consumers choose payment cards for purchases, retailers push for government regulation.   Is this a good thing? more

  • February 08 MerchantRates.com News Alert

    Technorati Profile

    Important PCI Update

    Effective January 1, 2008, Phase 1 of the Visa Payment Application Mandates stipulates that no merchant may be boarded that uses a payment application identified as storing vulnerable data. The Payment Card Industry Data Security Standard (PCI DSS) prohibits the storage of the full contents of any magnetic stripe, CVV2 or PIN data. Merchants are at high risk of being compromised if they use payment applications that store prohibited data or have security weaknesses. A good resource is available at www.visa.com/pabp, where you will find a list of validated payment applications (make sure your POS is on the list) and best practices. We also recommend www.pcisecuritystandards.org and www.visa.com/cisp.

    Tackling PCI

    The primary threat has to do with … more

  • Shopping Merchant Account Rate Quotes

    It can be difficult to compare quotes from one provider to the next. The problem is that most merchant account providers quote a qualified “rate as low as” price then surcharge “non-qualified” transactions. If you’ve been asking "what's your rate?" then you are likely contributing to the problem.

    First recognize that as a merchant, you will accept a diverse mix of credit and debit cards for payment and failing to find out how specific card types like signature debit, rewards, enhanced, world, business, corporate and others will be billed leads to higher bottom line costs.

    Action Steps

    The best contacts and resources to help you get it done

    Start with an understanding of Interchange

    Interchange fees are paid to cardholder-issuing banks and these rates are … more