The payments industry is constantly in motion. There are always new innovations on the horizon, even as merchants are still adapting to the last big change. We are focused on our software partner integrations, and the launch of Singular BillPAY, our customizable electronic bill presentment and payment platform (EBPP). These two main areas of our expertise, in addition to continuing to support and nurture our valued flat rate merchants, will continue to drive our focus forward as we also adapt to big changes in the industry this year. Here are some of the exciting things coming down the pipeline to keep an eye out for. Many of these will also show through in our platform which is powered by our technology partner CardConnect. So, get ready – it’s going to be a really fun year!
Through many of our educational blogs last year we talked about the variety of fees and rates other processors charge and the hundreds of card types out there that make up your qualified and nonqualified rates when you are paying under a tiered or cost-plus pricing model. We covered reading your credit card processing statements, decoding the language in the industry which is purposefully confusing, and what makes our custom flat rate program stand out from the rest.
Maximizing holiday profits is the name of the game this season. And whether you’re a retailer or a dentist this can be a busy time of year. The National Retail Federation is forecasting holiday sales this year to increase 3.6% over last year to $655.8 billion. Here are some tips to make the most of the hustle and bustle from a credit card processing perspective. There are some simple things you can do as a merchant that can lower your credit card processing fees and get customers back in the door after the New Year as well. Cheers to a busy holiday for you all!
Cyber-criminals are always lurking to find the best place to hijack some legitimate deal in an effort to sell illicit goods and services online…where these crooks breed. One of the latest popular scams is transaction laundering through payment processors and in recent months it has become a favorite of drug dealers, sex service procurers and other similar corrupt dealings. The problem is many people have yet to hear about this and studies at EverCompliant indicate that “as many as 6%-10% of additional unauthorized ecommerce sites that banks are processing may not know the illicit activities they are backing without their consent or awareness.”