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7 selected articles
Square Review, Rates & Fees 2016 - Compare Credit Card ...
Update -- 10/28/2015: During Square's IPO, information came out that Square lost millions of dollars by processing transactions for Starbucks. You may also be able to process for free, just like Starbucks .
Update -- 6/9/2015: Square announces NFC-capable swipers that can accept Apple Pay and other contactless payments will be available in the fall of 2015.
Update -- 11/11/2013: Square...
GoPayment - A Costly Mistake! - Compare Credit Card ...
What You Will Really Pay
Businesses that use Intuit GoPayment should expect to pay an effective rate of 3.25% or more.
Intuit's past use of bundled pricing and excessive surcharging will result in higher than expected charges. CardFellow has analyzed countless GoPayment processing statements, and the typical effective rate is between 3.25% - 4.25%, which is significantly higher than...
Chargebacks: A Survival Guide - Compare Credit Card ...
4840: Fraudulent Processing of Transactions
4841: Cancelled Recurring Transaction
4846: Correct Transaction Currency Code Not Provided
4847: Requested/Required Authorization Not Obtained and Fraudulent Transaction
4849: Questionable Merchant Activity
4853: Cardholder Dispute--Defective Merchandise/Not as Described
4854: Cardholder Dispute--Not Elsewhere Classified (U.S. region only)
Credit Card Processing Companies: A Who’s Who
Integrated Software Vendors
Card Brands (Visa/MasterCard)
For all of the advertisements produced by major card brands, companies like Visa and MasterCard are in many ways the players furthest removed from both businesses and consumers in the chain of credit card processing. These companies don't issue credit cards or set the interest rates that cardholders pay, but their services are...
Costco Credit Card Processing - An Expensive Mistake
Costco's merchant accounts use tiered pricing. On a tiered pricing scheme a processor (in this case Costco's partner Elavon) groups interchange fees into several tiers called qualified, mid-qualified and non-qualified. By doing so, they're able to mask the true cost of processing while increasing profits.
I'll explain exactly how processors game the system with...
Credit Card Processing Guide - CardFellow
As you can see from the table, once we add each processor's monthly and annual fees to our running cost, the processor with the lowest rate (Processor A) becomes the most expensive, and the processor with the highest rate (Processor C) become the least expensive.
This is why it is important to consider all rates and fees equally when comparing processors. The processor with the...
What Are the Average Credit Card Processing Fees?
Average Credit Card Processing Fees
by Ben Dwyer
We get this question a lot here at CardFellow: "What's the average credit card processing charge for a [insert your business type here] business?" There are easy answers to this question, and then there are the right answers.
What your business pays in processing fees depends on a number of factors, including how you accept cards, if you take PIN...