Durbin now wants to keep Interchange 'as is' for debit cards used by the government by carving out an exemption to his own amendment. As reported in Digital Transactions, Durbin said he would write language to exempt transactions on "government cards so … more
At the same time, U.S. cardholders increasingly find it difficult to use mag-stripe cards outside the U.S. As we discussed here, the U.S. EMV strategy hinges on contactless / NFC adoption. Some believe EMV 2.0 in … more
Last week was the 20th Annual Taste of Alpharetta outdoor street festival. The Taste of Alpharetta is the largest “Taste of” festival in the South with over 60 restaurants sampling delicious appetizers, entrees and desserts, plus a chef’s competition, cooking demonstrations and a Culinary Arts & Music Stage.
While admission, parking and shuttles are free, participating restaurants charge $1-3 per food sample. For the 3rd consecutive year, Vantage set up a wireless payment card system for the City of Alpharetta to quickly handle food ticketing for 57,400 foodies and festival-goers in five hours.
We set up two VeriFone Vx510IP terminals connected to a Verizon wireless router to … more
What does this mean for U.S. merchants? First, take a look at your most recent April merchant statement. If you are not on a direct Interchange pass through pricing plan already then you need to take action. Open your browser and … more
But what if you provide business-to-business (B2B) goods or services - is establishing and maintaining loyalty … more
The shift from paper base to digital currency has been quietly transformative. A panel of financial experts discuss digital currency, trends, innovation and regulatory policies to consider and avoid.
To start, digital money trends show favorable growth. Between 2003 and 2008, card-based transactions grew by 13% worldwide. And government use is part of this growth. For example, the U.S. federal government is using purchasing cards for procurement to save $1.7 billion a year according to a GAO study. Beyond cards, consumers have embraced new technologies that facilitate convenient and secure electronic payments across a wide range of platforms.
While banks are regulated, what about a host of non-bank participants who provide … more
With tax day almost here, it seems appropriate to consider what the federal tax system is costing taxpayers in addition to the taxes themselves.
Complying with the federal income tax code amounts to imposing a 22.2-cent tax-compliance surcharge for every dollar the income tax system collects.
Corporations with assets of $1 million or less (more than 90 percent of all corporations) paid a minimum of $382 in compliance costs for every $100 they paid in income taxes.
A compliance burden of 6 billion hours per year represents a work force of over 2,884,000 people: Larger than the populations of Dallas (1,210,393), Detroit (900,198) and Washington, D.C. (553,523) combined; and more people than work in the auto, computer manufacturing, airline manufacturing and steel … more
According the IRS.gov, you can get your refund faster by telling the IRS to direct deposit your federal income tax refund on up to three different accounts. If you want the IRS to deposit your refund into just one account, use the direct deposit line on your tax form. However you also have a choice to direct deposit your refund to more than one account. With split refunds (use IRS’ Form 8888), you have a convenient option for managing your money. For example, if you use two paycards within … more
The credit health of customers is top of mind for many CFOs today. Slow pays, delinquencies and credit losses have a major impact on companies of all sizes but are particularly harmful to small businesses that, in the past, have not had affordable credit scoring and monitoring solutions available.
As businesses emerge from the recession and sales pick up, the best practice is to determine those buyers with a higher probability of payment before extending credit. Like banks, businesses need processes in … more
In our experience, we have found accepting card payments on a smart phone to work best in a sales environment where a single user will operate the device, one customer at a time. And the PAYware Mobile solution has received positive client feedback from our early adopters. The thing about early adopters is that they want the latest technology regardless. But for others, they want to analyze their options. … more