Visa http:// … more
An it appears that the anticipated result of these actions will be to steer consumers away from debit and toward reward credit and charge card products that carry more expensive merchant Interchange rates.
"An Associated Press-GfK poll last month found that about two-thirds of consumers use debit cards more frequently than credit cards. When asked how they would react if they were charged a $3 monthly fee for their debit card, 61 percent said they'd find another way to pay. If the fee was $5 a month, two-thirds said they'd do the same. If the fee was $7, the figure rose to 81 percent."
Our concern for small … more
Automating the invoice approval process is the next logical next step for companies that are already reaping the benefits of front-end electronic invoice systems. Organizations that have experienced successes through employing digital imaging are seeing visible improvements and are actively moving towards further AP automation.
Research conducted by PayStream Advisors confirms these trends and notes that automation to date has been operations driven, with quicker approval of invoices being the main cited benefit. Companies in the survey also experienced lower processing costs and increased productivity.
Automated workflow solutions in the accounts payable (AP) arena are maturing as the … more
“In the time it takes to break into a major company like Citigroup Inc., a hacker could steal data from dozens of small businesses and not get detected, says Bryce Case Jr., a former hacker who broke into several government and corporate websites a decade ago and now runs an online message board for hackers called Digital Gangster. Now that small companies use computers, "the juice has become worth the squeeze," he says. "Even a pizza place has addresses, names and credit-card information."
Whether you store card holder … more
Under these new rules, debit card issuers must add at least one unaffiliated network to each debit card. For example, Visa has exclusive arrangements with issuers to use both its signature debit and PIN debit networks. Now debit card issuers will need to add an alternative network to Visa.
In response, Visa says they will implement a new Network Participation fee that will be based on a merchant's size and number of locations while at the same time lowering the variable rate charged per transaction. This Visa strategy is intended to … more
While Interchange fees are scheduled to move lower in October, this new Visa fee (like other Visa fees charged to acquirers) will be pass through to merchants in one form or another. Given this fact, the idea is that the more Visa transactions a merchant accepts, the lower this new fixed location fee becomes on a per transaction basis.
Now that the final Fed rules give merchants control over the routing of transactions, Visa hopes that this … more
The biggest innovation coming soon to the paper check is the digital check. Keeping all the benefits of its paper form except the piece of paper, we expect the digital check will usher in big changes in the payments industry. more
October Debit Interchange Savings
Here we take a look at the current Visa and MasterCard charges for the processing of debit cards for retail, restaurant and ecommerce merchant categories to project possible savings for a range of transaction sizes from $10 to $75.
For example a merchant … more
The rule was slated to take effect on July 21, yet with less than one month to put in place all the mandated provisions, more time is required to implement these changes. For example, it will take … more
"What we found was that in addition to popular consumer oriented products like debit cards and rewards cards, today’s buyers are using several types of commercial card products including business, corporate, fleet, purchasing and GSA purchasing cards”, says Henrique Ceribelli, product manager at Bill.com. "We built our integrated merchant services solution so our clients could accept both consumer and commercial … more