MerchantService.com has been in business since 1995 and has provided merchants with effective systems for optimized credit card and business management solutions.
These services include the implementation of strategies that have proven to accelerate the overall flow of cash, eventually resulting in greater efficiency with high levels of cost effectiveness.
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Digital Transaction News
Feb. 14th, 2014
As Key Chip Deadline Looms, Doubts Emerge About Small Merchants’ Readiness
By John Stewart
With Visa Inc. and MasterCard Inc. digging in their heels on a key chip card deadline, payments executives are expressing doubts that all U.S. small businesses will be ready. “The short answer is no,” says Henry Helgeson, chief executive of Merchant Warehouse, a Boston-based merchant processor. “We still have a lot of work to do as an industry.”
In October 2015, the major card networks will shift liability for card fraud to the party that isn’t equipped to handle chip card transactions on the Europay-MasterCard-Visa (EMV) standard. While Visa and MasterCard appeared to some observers to be willing to back off somewhat on that deadline recently, both networks have confirmed the date in the wake of the massive data breach at Target Corp. and other retail chains.
Continue reading Doubts Emerge About Small Merchants’ EMV Readiness
Feb, 12th 2014
First Data has learned of a widespread phishing attack telling recipients that their merchant ID has been locked. Unsolicited email containing errors should always raise a red flag, especially if combined with a call to action, such as calling a toll-free number or clicking on a link. If you receive an email similar to the one below, immediately delete it from your inbox and deleted items folder. Do not open any attachments. No further action is required on your part.
Continue reading WARNING – First Data Phishing Attack
A court case was recently settled between a group of merchants, on one hand, and Visa, MasterCard, and issuing banks, on the other hand, about unfair business practices related to interchange fees. If you accepted Visa or MasterCard between January 1, 2004, and November 28, 2012, you are part of a $7 billion dollar settlement. But, you have to register to be included. MerchantService.com and Brownstone Recovery Group are here to help.
Continue reading Visa / MasterCard Class Action Settlement Recovery
Many credit card processors offer a variety of different processing rates and fees. If you are looking to do business with a merchant services company, it’s crucial to understand that comparing quotes from one merchant service provider to the next can be difficult. Rates will vary depending on the pricing method, type of card, the manner in which the card is processed and your adherence to qualifying criteria associated with the sale.
With merchant service providers, the first thing to do is to look for a reputable company that offers interchange pass through pricing, interchange is the actual wholesale cost of the cards accepted and determines the overall cost a merchant pays for their credit card services. As a business owner you have enough to do without having to figure out how Credit Card Interchange works, just know that in order to pay the lowest fees when processing credit cards, a merchant’s goal is to pay as close to interchange as possible.
Continue reading How to compare merchant service providers to ensure you are receiving the best rates