After years of battling, Visa and Mastercard have each separately reached an agreement with the European Commission over their multilateral interchange fees (MIF) on foreign cards. The move will save retailers about 40% of what they were previously paying in...
If your business accepts credit cards, it needs to meet Payment Card Industry (PCI) compliance standards. This is true whether you take payments through a physical POS, an online checkout, or contactless payment. In this post, we’ll explain PCI Compliance, why...
Key Takeaways: A credit card surcharge is a small fee added to card transactions to offset processing costs, and it’s legal in most U.S. states when done correctly. Retail surcharges are regulated by card networks and state laws, requiring clear disclosure, caps, and...
Early termination fee calculator Estimate what it could cost to exit your POS or processing contract. Fee type Select your fee structure Flat fee Prorated fee Liquidated damages Flat fee amount ($) Usually between $295 and $500 Contract length (months) 12 months 24...
Key Takeaways: Transaction Starts: Cardholder uses credit card; POS captures and encrypts details for processing. Authentication: Verifies cardholder identity with PIN, signature, or biometrics to prevent fraud. Authorization: Issuing bank checks funds, approves...
