Department of Justice Final Judgment on Rule Changes
MasterCard http://www.globalpaymentsinc.com/MCFinalRuling.html
Visa http:// … more
Archives
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Debit Interchange Regulation Fallout
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
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Lower Invoice Processing Costs Through Automated Workflows
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
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A Wake Up Call for Small Business Security Concerns
Small business owners are a new favorite target for hackers hoping to take advantage of weak security in small business environments. This excerpt from a recent article in the Wall Street Journal article Hackers Shift Attacks to Small Firms sums up the new reality:
“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
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Visa and MasterCard plan changes due to new debit Interchange regulations
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
