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Credit Card Services and the Visa-MasterCard Duopoly

July 16, 2013 | Author: | Posted in Finance

Swiping fees, also known as interchanging fees, were originally designed to protect consumers against fraud and to reduce the burden of overhead costs. Merchants using credit card services have been increasingly agitated by the idea that banks are using swiping fees for profit, however, which has spawned the creation of the Durbin Amendment to the …

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The Problem With the Durbin Amendment For Online Merchant Accounts

July 16, 2013 | Author: | Posted in Finance

The Durbin Amendment to the Dodd-Franklin Act has caused quite an uproar among banks, merchants and consumers alike. Originally intended to protect consumers and merchants against insane swiping fees from using a credit card machine or online payment gateway, many argue that it inadvertently caused the opposite reaction. Banks tend to use swiping fees to …

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New Regulation on Online Merchant Credit Card Processing

July 16, 2013 | Author: | Posted in Finance

Ecommerce credit card processing merchants know that Visa and MasterCard are the two titans of the credit card industry. In fact, they have such control of the market that many have accused them of engaging in a duopoly, crushing any other competition that may stand in their way. Duopolies, much like a monopoly, are not …

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Things to Think About Before Setting Up a Merchant Account for Internet Credit Card Processing

June 21, 2013 | Author: | Posted in Finance

Guest post is provided by Total Merchant Services, offering merchant accounts for internet credit card processing. Visit their website for more information. Having the ability to accept credit cards for businesses is incredibly important in this increasingly wireless market. The smart phone, tablet, and other mobile devices. People expect an electronic gateway to quickly and …

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Stay Strong With Updated Merchant Services

March 25, 2013 | Author: | Posted in Finance

Been considering wireless credit card processing? In business, every small detail matters because the competition’s tough-as-nails attitude cannot be underestimated. It’s important to keep all aspects of your company running at top speed, and having safe and accurate merchant services is a point to attend to with methodical care. Moreover, securing adequate merchant services will …

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How can your business begin to accept credit card payments?

January 21, 2013 | Author: | Posted in Finance

If you are planning to start up a new business or have an existing business and want to accept credit card payments, the first step is to open a merchant account with a merchant’s service provider. What the merchant account does is act as the interface between your merchant account and your customers bank account. …

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What is a Terminated Merchant File?

January 15, 2013 | Author: | Posted in Finance

A terminated merchant file is a blacklist created by acquiring banks like Solid Trust Pay to protect themselves from merchants who have caused problems in the past. The merchants whose names are in this list would have had their merchant accounts terminated for cause. These files are also referred to as MATCH (Member Alert to …

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Alternative Merchant Providers

January 15, 2013 | Author: | Posted in Finance

If you are planning to open a new business and intend to accept credit card payments, you would first have to open a merchant account with a merchant bank like Solid Trust pay. But there is the chance of your application to open an account being turned down for the reason that you are a …

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A Guide To Hidden Merchant Account Fees

January 15, 2013 | Author: | Posted in Finance

Are you planning on opening a merchant account? You may not be aware of all the costs and fees that merchant banks charge from you. Though there are some operational costs that have to be charged by any merchant bank like Solid Trust Pay, you will be surprised to find that the fee structure that …

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What Are High Risk Merchant Accounts?

January 15, 2013 | Author: | Posted in Finance

Certain merchant accounts are categorized as high risk merchant accounts by merchant bank service providers like Solid Trust Pay depending on the business type the merchant is involved in. Many merchant account service providers rate certain business types as posing a higher risk level to the bank. Businesses that fall in to this category include …

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