Tag Archives: small businesses

About Mobile Payment Processing

Mobile Payment Processing

In modern business, those businesses without a mobile device card reader are missing out on substantial income. Anyone who sells merchandise or services on site will benefit from mobile payment processing through a card reader attachment. Customers are currently paying via mobile devices at a rate of $240 billion annually, and this figure is expected to increase substantially in the coming years.

Landscapers, caterers, repairmen, or anyone who deals with customers outside of their shop or office will benefit from a mobile device payment system. The system is perfect for those attending trade shows or other networking functions.

Cards vs. Cash or Check

Due to the ballooning use of credit cards and debit cards, people do not carry cash like they did in the past. Customers are more likely to spend more with a credit or debit card, because they have immediate access to more resources than the cash they have on hand. Checks must be deposited and there must be sufficient funds for the check to clear. The physical trip to the bank, as well as waiting for the check to clear, takes time and resources away from the business owner.

On the other hand, mobile payment processing insures immediate payment from the customer. The money is electronically deposited into the business owner’s account. An email receipt can be sent directly to the customer for payment. There is an immediate electronic record of the transaction for the merchant.

Initial Investment for Mobile Payment Processing is Small

Some are hesitant because they believe there is large start-up costs or expensive equipment to purchase. Most likely, the small business already has the equipment needed. All it takes is an iPhone or Android smartphone. There is no expensive or bulky card reader to carry around. The reading device is provided free of charge to the merchant.A small device attaches directly to the phone, and an app is downloaded into the phone. The merchant is then ready to accept mobile payments. All the equipment used can be attached to the merchant’s belt. The service is compatible with both iPhone and android software and can be used with all types of mobile calling services, including Wi-Fi, 3G and 4G networks.A reputable mobile processing service will provide state of the art security for the transaction, ensuring proper encryption of the process. The system can be argued to be safer than carrying large amounts of cash or checks on the merchant’s person.

Costs of Mobile Processing

The merchant pays a small percentage of the payment for the cost of the service, often less than 3% of the payment. The small percentage per transaction far outweighs the lost income the merchant suffers. Increased sales means increased profits. Without the cost of equipment purchases, the small fees for the service become even more attractive.

There is no longer any reason for the mobile merchant to remain in 20th century technology for payment processing. Adding another function to their iPhone or Android allows them to use state of the art technology at little cost.

How Do Restaurant Credit Card Transactions Work?

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For restaurant customers, credit card transactions allow you to pay for your meal easily and without much effort. You present your card to your server or cashier, who charges you accordingly. A gratuity is either added automatically, usually for large parties, or you write in how much you want to leave as a tip along with your signature. Within the next couple of days, your account will show a debit in the amount of your total purchase.

How Do Restaurant Credit Card Transactions Work for the Restaurant?

For the restaurant, the process is a little bit more complicated. After your card has been swiped and the total amount of your food and drink bill has been entered, someone on staff must manually enter tip information. At the end of the shift or day, someone at the restaurant, typically a manager or owner, will run a report and confirm the accuracy of the day’s credit card billing data. Once the information has been confirmed, he or she will send that information to the merchant that provides credit card processing for the restaurant.

What Is a Merchant?

The merchant — the company that does the credit card processing — acts just like a bank, so no other banks are involved in the transactions. The merchant receives the money for any purchases made by cardholders electronically, and it pays businesses like restaurants by depositing the money that it’s collected directly into the bank account of the business in the same way people receive paychecks via direct deposit. Because merchants behave like banks, they have capital on hand to pay businesses in the event there is a delay in receiving funds electronically from a credit card company. The merchant takes out any fees before depositing money into the business’s account.

What Does the Merchant Do?

Once this information has been sent to the merchant, it takes the funds from your credit or debit card and deposits those funds into the account of the restaurant owner or company. This usually occurs the next day although it may take longer. The amount of money that gets debited and deposited is based entirely on what gets entered into the credit card processing machine by an employee of the restaurant, which is why mistakes can sometimes occur.

How Do Restaurant Credit Card Transactions Work When There’s a Mistake?

If there’s a mistake at the time the card gets swiped, the restaurant staff can correct it relatively quickly by simply voiding the sale or issuing you a refund. A voided sale will not show up on your statement, but a refund will show up as two separate transactions—a charge and a refund. Because two transactions do actually occur, the money may get debited from your account and then refunded days later by your credit card company.

Noticing a Mistake on Your Statement

If you notice a mistake on your statement, first talk to the restaurant and find out if they made a mistake in billing. While you can dispute the charge through your credit card company, it may be faster and easier to work with the restaurant directly. If there was a genuine mistake, they can still issue you a refund that will be applied to your account much faster than if you had disputed the charge through your credit card company.

Continue Next Article – How Payment Gateways Work >

Next-Day Funding Now Available

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The Official Merchant Services Blog would like to announce that Host Merchant Services has now added next-day funding to their already impressive line of services. Merchant services customers appreciate getting their deposits the next business day, as this is critical for funding payroll and inventory purchases for the week.

Merchants can now expect funding for MasterCard, Visa, and Discover transactions by the next business day, rather than within 48-72 hours, as is customary for other processors. All HMS Merchants can qualify. HMS long-term merchants will attain next-day funding, immediately upon request.

A merchant who currently has two day funding for example, would not see the money from a transaction processed at noon on a Monday, until Wednesday morning at the earliest, creating a 48-hour delay that could be the source of a merchants’ cash flow dilemma.

Any merchant that processes with Host Merchant Services and batches, or settles their terminal regularly in the evening, will receive those funds in their bank account by the next business day. Batching is the end-of-day or end-of-shift process in which the merchant balances and submits transactions for clearing and settlement. This allows executives to make quicker business decisions that impact their bottom line, as well as increase cash flow for the business.

Merchants should beware however that not all next day funding programs are created equal. While many companies claim to offer next day funding, merchant account providers have different capabilities and requirements resulting in very different times for fund dispersal.

Next day funding can benefit particular types of merchants like restaurants, principally when it comes to those that have heavy weekend volumes. For these merchants, next day funding can help them gain their weekend proceeds faster so they can be used to fund payroll and inventory purchases for the week. These restaurants would get their deposit for Friday, Saturday and Sunday activity on Monday instead of Tuesday, which is a very big cash flow benefit.

Host Merchant Services is always looking for ways to make it easier and more convenient to do business as well as provide added value in accelerating the growth of companies. With next day funding Host is enabling small business owners to improve their cash flow with faster funding of dollars earned through credit card sales. This corresponds with HMS’s ongoing goal to provide quality payment transactions solutions at the best price to merchants across the United States. Contact Host Merchant Services now to save money on your processing fees, as well as see your money a full day earlier than with other processors.

iPhones, NFC and Rewards Cards [2023 Update]

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Today the Official Merchant Services Blog brings NFC technology back into the spotlight, with a look at a pilot program U.S. Bancorp is running in two test cities. The company, one of the nation’s more tech-oriented big banks, is joining the ranks of companies testing near-field communication (NFC) technology by pairing a rewards credit card with Apple Inc.’s iPhone in Salt Lake City, Utah, and Portland, Oregon.

It’s been a while since we discussed the technology surrounding Near Field Communication, or NFC, so lets take a moment to recap. NFC is a short-range high frequency wireless communication technology which enables the exchange of data between devices with a touch. This touch capability allows for sharing, pairing, and transaction capability between the NFC devices. A smartphone or tablet that is NFC capable can be used as a keycard or an ID card. The same device can also be used to make credit card payments.

U.S. Bancorp, based in Minneapolis is offering new holders of its FlexPerks Travel Rewards Visa Signature card a special sleeve for the iPhone 4 and iPhone 4S. The sleeve contains a microNFC chip, and an antenna that facilitates payments by communicating with contactless point-of-sale terminals. Unlike a small but growing number of smart phones running Google Inc.’s Android operating system, the iPhone does not have a built-in NFC chip. With the sleeve and U.S. Bank’s new Go Mobile app, cardholders will be able to use their iPhones to make purchases at any merchant location that accepts the contactless Visa payWave card.

Cardholders will receive the case free for participating in the test. The case also includes a battery that extends the iPhone’s charge time by more than 50%, a feature U.S. Bank says will appeal to frequent travelers. The card itself is free in the first year but afterward charges a $49 annual fee.

U.S. Bank, already has offered the FlexPerks card with a Europay-MasterCard-Visa (EMV) chip so that international travelers can use their cards easily in EMV countries, which is now most of the industrialized world. The new test is part of an effort to learn how consumers and merchants take to NFC, according to Dominic Venturo, chief innovation officer at U.S. Bank Payment Services.

Some major players in mobile payments, notably PayPal Inc., Square Inc. and Starbucks Corp., are using non-NFC technologies such as browser-based systems or 2-D bar codes. NFC is a high-capacity, fast technology, but skeptics cite its need for chip-equipped phones and POS terminals as reasons to use other technologies. And while still small considering that the U.S. has about 8 million card-accepting locations, Venturo says the number of locations capable of accepting NFC payments, is now up to about 300,000 and growing.

U.S. Bank picked Salt Lake City and Portland for the NFC testing because of their tech-oriented populations and previous experience with high-tech card or Internet systems. Salt Lake City, for example, is one of the two test cities for Isis, the NFC mobile-payments joint venture of AT&T Mobility, Verizon Wireless and T-Mobile USA. Also, the Utah Transit Authority, the Salt Lake area’s mass-transit system, already accepts contactless cards. Google, meanwhile, picked Portland as its first test site for Google Offers, a competitor of Groupon Inc.’s daily-deal offers now available in about 40 cities. U.S. Bank has no end date for the test and in fact considers it a limited rollout that may expand later this year.

This technology is being embraced by some major companies in the e-commerce industry for its ability to process credit card transactions. PayPal purchased Zong for just that reason. Visa invested heavily in mobile payments, as seen by their marketing plans for the 2012 Olympics. Google is making its Google Wallet and Google+ beta work toward that same vision of mobile payments made through NFC-based touch technology. Only time will tell if the future of NFC payments is in fact bright and as usual, Host Merchant Services will keep you up to date on any new developments.

Industry Terms: E-Commerce [2023 Update]

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This is the latest installment in The Official Merchant Services Blog’s Knowledge Base effort. We want to make the payment processing industry’s terms and buzzwords clear. We want to remove any and all confusion merchants might have about how the industry works. Host Merchant Services promises: we deliver personal service and clarity. So we’re going to take some time to explain how everything works. This ongoing series is where we define industry related terms and slowly build up a knowledge base and as we get more and more of these completed, we’ll collect them in our resource archive for quick and easy access.

E-Commerce

Today’s term is Electronic Commerce, or E-Commerce for short. E-Commerce is the process of using the Internet or computer networks in order to buy or sell information, services, or products. This includes all transactions involved in conducting business over the fore mentioned networks. The act of buying or selling over these networks allows for secure paperless transactions to happen electronically. It has also given many businesses the ability to expand from local and regional markets to national and global markets.

Initially E-commerce just involved business to business transactions over private networks, it wasn’t until the mid 1990′s that it became completely open to the public. These businesses were using Electronic Data Interchange (EDI), which was a transfer of electronic data from computer to computer and Electronic Funds Transfer (EFT), which was an electronic transfer of money from one computer to another in order to do business with each other. Doing business like this guaranteed that the transactions would be completed in a faster and less expensive way. Advancing computer networking capabilities led to the public use of the Internet and opened the doors of E-commerce to the world.

E-Commerce has a major impact on the markets that businesses can reach. Businesses now have the ability to reach a large global market allowing for a greater return on their product sales. Retailers can sell more of a particular product at a lower cost, as a result of business being done online and not by man power alone, which gives them the ability to lower prices and increase sales. Although we may take advantage of E-commerce and the ease it creates in our daily lives, its benefit to the global economy is always changing and ever-increasing as technologies continue to develop. Everyday we see new businesses from all over the world implementing E-commerce into their business strategies, resulting in the growth of a “global community”.

Host Merchant Services offers a variety of E-commerce solutions to fit your business, including HMS Express, our own cutting edge in house payment gateway. HMS is able to interface with most of the major Payment Gateways out there, including Authorize.net. We also offer unparalleled protection for all of our merchants in the form of our PCI Compliance Initiative.

‘Tis The Season, For Facebook Gifts [2023 Update]

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This holiday season, the Official Merchant Services Blog brings you the latest on Facebook’s newest venture, Facebook Gifts. On Tuesday, the company announced that any U.S. member can now send Facebook friends tangible gifts, which includes wine, digital gift cards and even charitable donations.

Facebook Gifts

The Facebook Gifts program, previously available only to some users of the social media site, began as the ‘Facebook Wish List‘ program we covered a few months ago. Since Facebook takes a percentage of every transaction, this program could also be the “gift” that gives significant profits to the company. The social network hasn’t revealed how much it has made from the service, but Facebook’s 170 million users in the U.S. could generate an estimated billion-dollar revenue stream for the now-public company.

In addition to the advertisements that run on Facebook, the company has been selling virtual goods. Since the line is blurring between socializing and shopping online, this move builds on the companies existing strengths.

From Virtual to Real Goods

Billy Pidgeon, senior analyst at Inside Network told the E-Commerce Times, “Google is stepping up in e-commerce, and we’re seeing that Pinterist has a laser focus on retail. At the same time, we’re seeing that online retailers such as Amazon and eBay are looking to get more social. This is really just the next step in greater convergence of the two.” Social media sites looking to enter the e-commerce market, and online retailers looking to enter the social media market continue to point to expanding e-commerce trendsas the reasoning for branching out.

“This is a major opportunity for Facebook and could generate hundreds of millions of dollars in revenue,” said Greg Sterling of Sterling Market Research. “However, user experience, privacy and security considerations are critically important here. In addition, the selection of products that are available is also important.”

After the disappointment of Facebook’s May IPO, this could be the holiday miracle that Facebook and its investors hoped would deliver the goods. At the very least, it could help the company end the year on an upbeat note.

Facing Facebook Facts

The different types of products available will most likely determine whether this will be the gift that keeps on giving or whether the company will face a negative reaction that could turn off some users. The integration of gifts could make the Facebook experience a more organic one, and in turn the project could reap more success. However there will always be some people who are wary of giving Facebook their credit card numbers and purchase histories.

In order for end-users to feel comfortable using their credit cards and making purchases on the site, Facebook needs to change the culture of the user experience and provide sufficient security assurances, there enlies the challenge.

Holiday E-Commerce Trends [2023 Update]

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Today the Official Merchant Services Blogbrings you some predictions for this holiday season. In particular, there are six key trends to watch. Over the last 12 months the E-commerce sector has rallied against challenging economic conditions and driven innovation in business and shopping models. A flurry of technical innovations, most notably the emergence and rapid adoption of Smart phone and Tablet technology, has transformed the shopper seller relationship. Fueled by mobile technology, E-commerce growth shows no sign of stopping. JP Morgan estimates that global E-commerce revenue will hit $963 billion next year.

1.) T-Commerce and M-Commerce

In 2011 web enabled mobile devices transformed E-commerce, opening up a new 24/7 channel to the consumer and creating innovative new ways to engage them, from QR codes to location based offers. In 2012 m-commerce will continue to gather momentum and could represent about 12% of e-commerce sales this holiday season, but it is T-commerce that’s particularly exciting. The rich functionality of the tablet shifts the traditionally transactional and bargain hunting online experience into a virtual store experience, making the web an almost tactile experience. Better still, mobile commerce is not exclusively for big brands with big budgets. Merchants large and small can harness the mobile channel without incurring heavy infrastructure costs. Smart mobile web devices are estimated to overtake the total number of PC’s in use, exceeding 1.8 billion, by 2013. With 1.8 billion consumers just a click away this is too big an opportunity for retailers to miss.

2.) Bricks and mortar in the cloud

The boundaries between online and offline worlds are becoming increasingly blurred, as retailers fuse their digital and real-world offerings. Barcode scanning services such as ShopSavvy help users find the best deal, by allowing them to scan the barcode and search for better offers online. However, the challenge with these applications is they fail to reward the store whose display instigated the purchase.

3.) Shopping with your social network

Getting a second opinion before committing to a purchase is nothing new, but now rather than taking a friend shopping you can take your entire social network with you. Retailers are becoming increasingly aware of the power of “the fan” and social will form an integral part of the E-commerce evolution in 2012. Retailers are now using social media outreach not just for brand awareness, but for product development and customer service too.

4.) Borderless shopping communities

2012 will see the rise of the local global e-marketplace. In 2012, international marketplace models will provide sellers of all sizes around the world with the opportunity to expand their operations internationally, without the cost intensive outlay traditionally associated with establishing local delivery models, storage facilities etc. Sellers will be able to dabble in international shopping communities and dedicate resources based on real world demand. This will open up opportunities with emerging markets, such as China, India and Brazil.

5.) Flexible, Local shipping models

According to a report by Forrester in January 2011, shipping issues were one of the most common reasons for cart abandonment in Europe. It’s true that the Internet has created a global marketplace, but local market shopping preferences must be taken into account. In 2012, flexible shopping models will be vital for growth.

6. ) Online shopping gets personal

The old adage “Information is power” takes on new meaning in 2012 as retailers seek to capture the attention spans of information savvy internet shoppers. Today’s online retailers can acquire huge volumes of data on both their potential and existing customers based on user browsing habits. In 2012 data exchange between retailers and social networks will begin to provide solid business models for social platforms and offer new insights into the mind of the shopper. What matters most to retailers however is how their marketing teams translate this wealth of data into meaningful and timely communications with customers. To engage consumers in 2012 and beyond, retailers must learn how to harness user specific data to provide timely, personalized and relevant communications.

Host Merchant Services provides e-commerce solutions to our merchants that let them take payments smoothly and efficiently. We can help you navigate through the busy bustle of holiday shopping and find the transaction processing services that serve you best. The Official Merchant Services Blogwill also continue to provide insight on how merchants can maximize these opportunities.

Merchants Appeal Key Part Of Interchange Settlement

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Today the Official Merchant Services Blog brings you the most recent developments in the ongoing credit card interchange settlement lawsuit.

Merchants opposing the pending credit card interchange case filed an appeal last week challenging the court’s preliminary approval of a key part of the settlement. The appeal, filed by four merchants and seven merchant trade groups, asks the Second U.S. Circuit Court of Appeals to nullify the lower court’s preliminary approval. The merchants are collectively challenging a provision of the settlement that releases defendants Visa Inc., MasterCard Inc., and a handful of major banks from liability for interchange pricing policies. Meaning that merchants could no longer sue Visa or MasterCard for interchange policies they deem unfair.

“This settlement has fatal legal defects and should not get preliminary approval. We look forward to presenting the problems we see in this proposal to the Second Circuit Court of Appeals,” said Jeffrey Shinder, the merchant group’s attorney and managing partner at Constantine Cannon LLC, New York, N.Y.

About 1,200 merchants and trade groups have raised objections to the agreement since it was reached in July. In the deal, the card networks and banks agreed to temporary credit card interchange relief valued at $1.2 billion and $6 billion in damage payments for merchants along with relaxation of certain network rules, including ones that restricted surcharging. The pact received preliminary approval from the Brooklyn, N.Y.-based district court’s Judge John Gleeson on Nov. 9.

Besides the liability release, merchants have objected that the settlement does nothing to reform the networks’ interchange processes and cements in place a number of anti-competitive practices. “The merchant community is deeply committed to reforms that bring transparency and competition to the broken electronic payments market. The volume and diversity of those objecting to this flawed proposal is remarkable and continues to grow,” Shinder said in his statement.

The 11 merchants and merchant groups filing the appeal are: Coborn’s Inc., D’Agostino Supermarkets Inc., Jetro Holdings Inc., Jetro Cash & Carry Enterprises LLC, Affiliated Foods Midwest Cooperative Inc., National Association of Convenience Stores, National Association of Truck Stop Operators, National Community Pharmacists Association, National Cooperative Grocers Association, National Grocers Association, and the National Restaurant Association.

Opponents said the plan would protect what they view as anti-competitive interchange practices from further challenges by merchants, even from merchants that don’t yet exist. Opponents also questioned the value of the new surcharging freedoms, noting that 10 states prohibit the practice. This settlement attempts to force a one-size-fits-all solution onto a wildly diverse group of merchants, which may be extremely unsuccessful.

We have discussed this settlement from different aspects previously, noting the advantages it would seem to give the Issuing Banks over merchants. Although it is not finalized yet, the dissenter’s cries seem to be going relatively unheard, as they believe that the settlement protects the status quo more than anything, and will not change the way the networks set interchange. Host Merchant Services will keep you informed of all the latest news involving this legal battle between the merchants and the card-issuing giants.

Small Business Saturday: Nov. 24th

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Today, the Official Merchant Services Blog shines a light on a little known holiday that falls between Black Friday, and Cyber Monday called Small Business Saturday.

Since Host Merchant Services has many small businesses in its customer base, we wanted to take a moment to spotlight this newer day of shopping focus and frenzy. This is the third year that American Express is promoting Small Business Saturday, which encourages consumers to shop from small, local businesses on Nov. 24.

The Basics

First of all, what is Small Business Saturday? It is a shopping holiday created by American Express, held on the Saturday after Thanksgiving during one of the busiest shopping periods of the year. It’s not that old. It was first celebrated on November 27, 2010. Small Business Saturday is designed to be a counterpart to Black Friday and Cyber Monday –– which feature big box retail and e-commerce stores respectively. Small Business Saturday encourages holiday shoppers to patronize smaller, local retail businesses.

Benefits For Consumers

The most basic perk to the Small Business Saturday campaign is that it gives money back to consumers for shopping at local small businesses. As defined by American Express at their Small Business Saturday Page here: “You can receive a one-time $25 statement credit when you register any eligible American Express^® Card and use that Card to make a purchase of $25 or more at a small business on November 24, 2012.”

Benefits For Merchants

A survey by American Express found 93% of consumers believe shopping at small businesses is important, and are backing that sentiment up by spending about a third of their discretionary income at local small businesses. This prompted AMEX to initiate the campaign in the first place. And if you are a small business merchant, AMEX is going the extra mile to get you involved in the perks and promotions of this holiday.

Even if you are a late-comer to this event, there is still quite a lot of value to be had from participating in Small Business Saturday. The $25 credit program applies no matter what else you do. But there’s also these amazing resources still available:

From AMEX you can get free in-store signage, and a free online marketing kit.
AMEX also offers a free personalized ad, which geo-targets potential customers
You can use AMEX’s Go Social app to create mobile-based deals for your American Express card-wielding customers.
A joint venture from Google and YouTube offers up My Business Story which lets you create custom videos using YouTube’s editing tool to entice your customers.
For inspiration, you can even view some Small Business Saturday Success Stories on American Express’s website.

Too Early To Tell?

So what do you think? Will Small Business Saturday catch on? Cyber Monday seems to be gaining some traction, fueled by the rapid growth in online shopping and e-commerce, and standing on the precipice of a predicted boom in mobile payment business. Black Friday is still going strong, with big chains like Toys”R”Us and BestBuy fueling it year in and year out. Is there room for Small Business Saturday? Are you a small business merchant and have you participated in this event last year? Will you be doing it this year? Feel free to share you thoughts and insights on this bold campaign from AMEX.

Interchange Settlement Nears Preliminary Approval [2023 Update]

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Today the Official Merchant Services Blog explains why the controversial Interchange settlement is being considered for preliminary approval, despite the backlash from merchants and large corporations. We began talking about the possibility of ‘The Big Cash Comeback’ when the settlement was first announced, and later we discussed the opposition to the settlement.

Last week Judge John Gleeson said the controversial proposed settlement appears to meet the requirements for preliminary approval, however he also said he would hear merchants’ objections to the settlement as well. Lawyers had struck the settlement between the merchant plaintiffs and the bank defendants back in July.

“It seems clear that there is an expectation among some interested parties that the preliminary approval process should be more involved in this case than in the usual class action,” Gleeson, of U.S. District Court in Brooklyn, N.Y., wrote in an order setting the next hearing for November 9^th.

The involved parties and observers alike agree that this is no ordinary case. The litigation involves merchants and merchant trade groups, some individually and some as a class, which sued Visa Inc., MasterCard Inc., and some large banks to challenge credit and debit card Interchange rates on antitrust grounds in 2005.

The proposed settlement would have the defendant’s pay $6.6 billion in damages and temporarily cut Interchange fees by $1.2 billion, as well as provide merchants with relief from some network rules. In return, the merchants would forgo the right to sue the networks in the future over interchange and rules. The general consensus is that the settlement gives too much to the networks and would bind millions of current and future card-accepting merchants to its terms.

Judge Gleeson acknowledged the controversy, stating that all objections will receive careful consideration by the court. The Judge also noted that the threshold for preliminary approval of a settlement is “meaningfully lower” than the standard for final approval.

Gleeson said, “Preliminary approval is appropriate where the proposal appears to be the product of serious negotiation and further appears to be within the range of possible final approval.” He later added: “I have reviewed the settlement agreement, and at first blush it appears to satisfy the threshold requirements for preliminary approval.”

While we have discussed this settlement from different aspects previously, noting the advantages it would seem to give the Issuing Banks over merchants, the settlement seems to be proceeding along without much further adjustment or negotiation. Although it is not finalized yet, the dissenter’s cries seem to be going unheard, as they believe that the settlement protects the status quo more than anything, and will not change the way the networks set interchange. Host Merchant Services will keep you informed of all the latest news involving this legal battle between the merchants and the card-issuing giants.

Tag Archives: small businesses

About Mobile Payment Processing

How Do Restaurant Credit Card Transactions Work?

Next-Day Funding Now Available

iPhones, NFC and Rewards Cards [2023 Update]

Industry Terms: E-Commerce [2023 Update]

E-Commerce

‘Tis The Season, For Facebook Gifts [2023 Update]

Facebook Gifts

From Virtual to Real Goods

Facing Facebook Facts

Holiday E-Commerce Trends [2023 Update]

1.) T-Commerce and M-Commerce

2.) Bricks and mortar in the cloud

3.) Shopping with your social network

4.) Borderless shopping communities

5.) Flexible, Local shipping models

6. ) Online shopping gets personal

Merchants Appeal Key Part Of Interchange Settlement

Small Business Saturday: Nov. 24th

Interchange Settlement Nears Preliminary Approval [2023 Update]

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