Durbin Amendment to Take Affect Towards The End of October: Changes To Your Merchant Account

The Durbin Amendment is set to go into affect in October and it could have some big ramifications for merchant account holders and merchant account providers alike. The Durbin Amendment was a last minute addition to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and although there are many changes that will soon go into affect, it remains to be seen exactly how it will effect merchant account processing and the cost of conducting credit card services. However, many of the pros and cons of the changes for merchant account holders can already be seen but it won’t be completely evident until the amendment goes into affect in October.


In short, the Durbin Amendment caps debit interchange fees at $0.21 per transaction. However, fees could climb as high as $0.24 cents per transaction if the issuer implements certain fraud protection measures. The other main part of the amendment stipulates that merchants now have a choice in what debit network they process their transactions over. Before the amendment, many businesses could only process over the STAR network for their VISA transactions even if they preferred the PULSE or NYCE networks. The amendment gives businesses the freedom to choose between at least 2 networks which, if the amendment works as intended, should increase competition and drive down prices for merchant account holders which should save consumers money as well.
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How To Accept Mobile Credit Card Payments

Accepting credit card payments is critical for the modern business. It’s pretty rare that a company doesn’t accept credit card payments, but when you do come across a business like this, it feels very antiquated. With mobile technology developing by leaps and bounds, soon mobile credit card payments will be par for the course and any company not utilizing this exciting technology will feel antiquated as well.  However, accepting credit cards with your mobile device is surprisingly easy, and it is a great way to update your merchant services.


Setting up your merchant account on a mobile device is surprisingly simple. The first thing that you will need to do is to create a merchant account. This is a quick process – you just need to enter your bank account number and other business information. You can usually either do this over the internet or via fax. Once you’re approved (usually same day) you will be sent your mobile credit card reader device. Once you receive the device, you will hook it up per the installation instructions, then download the app for it and you are open for business.

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Shawn Douglas has joined Merchant Services as the Director of Business Development

With twenty plus years of bankcard industry acquiring experience Merchant Services is pleased to announce that Shawn Douglas has taken the position of Director of Business Development.


While studying at West Point and graduating from Boston College, Mr. Douglas began working in the industry as an intern for the President of MasterCard US for two summers.  Since then he’s held sales, management and business development positions with Unified Merchant Services, Fidelity National Bank, Moneris Solutions and Chase Paymentech.  More recently at TSYS Acquiring Solutions he was responsible for relationships with all VAR’s, Internet Gateways and Cash Advance Program providers.  In 2008, Mr. Douglas formed his own consulting company to provide business development expertise to specific channels in the merchant services acquiring industry with credit card processing software, and subsequently merged that company with Merchant First of Marietta, Georgia.


“We have found that the most expeditious way to develop merchant services business channels such as PC based credit card processing in today’s market is by partnering with Gateways and other VAR’s in a mutually beneficial relationship.  We are looking to create more relationships with the “Best of Breed” VAR channels and welcome their participation in our combined business development strategy.” says Shawn Douglas.
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Small Businesses Across America Need To Implement Their Smart Phone Merchant Services NOW!

More and more, the vital functions of our businesses and personal financial transactions are moving to mobile applications. Spurred on by our increasingly rising on-the-go culture, the consumer is demanding fast and easy payment options. Some businesses have already recognized this demand and have taken actions to meet the needs of the consumer – and they are reaping the benefits. Read more to find out why you need to implement Smart Phone merchant services immediately.


Contacts going ‘Contactless’


Across the country, most vendors are recognizing the need to adopt payment solutions and merchant services that meet the demands of the consumer. Swiping your payment card is becoming increasingly passé and time consuming which is why many businesses are offering faster and easier solutions. While the customer demand is always a little behind technological capabilities, more and more people are starting to get on board with the increased functionality and diversity of payment options.
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Mobile Credit Card Processing Merchant Services

While a lot of credit card business occurs at the cash register, many card transactions need to be processed where there just isn’t any easy credit card machine installation available. Enter the wireless credit card machine. With mobile credit card machine equipment,  payments can be accepted at trade shows, street fairs, craft shows, service sites, and just about anywhere you can grab a cell phone signal.  That’s amazing!


To qualify for the lowest possible merchant services rates when accepting mobile payments with credit and debit cards, you need to swipe the card at the time of sale.  The best merchant providers offer lightweight, compact swipers, they fit right into your pocket and plug into your device’s headphone jack.  Just one fast swipe of the customer’s credit card and the transaction is complete. Instant revenue!
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