Archives / 2012 / January
  • MasterCard changes registration policy on limiting acceptance by card type

    Effective immediately, registration is no longer required for merchants that accept MasterCard who choose to accept Debit MasterCard Cards only, Other Cards only, or both Debit MasterCard Cards and Other Cards. At this time, Visa still requires registration of merchants who wish to limit acceptance to debit or credit only. more

  • Small Businesses are Missing Out on Debit Interchange Savings

    Small Businesses are Missing Out on Debit Interchange Savings In an article yesterday titled “Merchant service providers are the real winners under new debit fee caps”, Michael Conticelli highlights that processors are not required to pass on the lower Fed regulated debit Interchange rates – and because of this small businesses are not realizing the benefits of this legislation.

    Thanks Michael for helping call attention to this small business issue. Ever since this debit Interchange debate started we have been advocating for small businesses because we knew that while they were held up as the face of this legislation by mega retailer lobbyist, that the system was rigged against them.

    In October 2011 when the Fed debit rules went into effect, we posted "Durbin’s Debit a Trick or Treat for Small Merchants". … more

  • Paycards better for unbanked than prepaid, traditional checking

    Paycards better for unbanked than prepaid, traditional checking A recent article “Why Banks Shun 30 Million Americans” makes the case that banks are uninterested in the unbanked and underbanked customer and that mega-retailers don’t offer much long-term value.

    New federal regulations have impacted the banking industry’s business model of subsidizing once “free” services, driving banks to focus on “profitable” customers while discouraging others with higher fees on basic banking services.

    Big retailers have stepped in to profit on the unbanked by charging fees to cash checks and by selling prepaid debit cards. Retail fees charged for these services, when added up over time, can be just as high as maintaining a checking account.

    Yet one of the best solutions for the unbanked and underbanked was not … more

  • Searching for the Best Merchant Rates?

    Best Merchant Rates It’s what all merchants are looking for; who doesn't want the “best merchant rates”? The real question for merchants is how to go about achieving this while avoiding the pitfalls of selecting a poor service provider.

    To be the best, can you just claim it or buy the best domain name? The Best Merchant Rates may be an SEO search term, but a company name? Isn't that like naming your company “the best cola” instead of Coke or Pepsi? Do you trust a financial services company with a generic company name like “Merchant Services” or do you go with brand names like Bank of America or Costco?

    For small businesses looking for the best merchant rates, turning to mega-banks and mega-retailers is not their best choice. For example, Bank of America Merchant … more

by Ty Hardison

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