When submitting payment, consumers are concerned about security. The Target security breach in December 2013 sparked widespread consumer skepticism concerning stored credit card data. The breach led to doubt with regard to information integrity at retailers. It also led to fear about fraudulent attempts to steal personal data. Today’s consumer is unsure about security in a world with many emerging payment options including mobile technologies. The daily news is flush with data breaches and attempts to gather personal information from individuals.
If you’re like many merchants, your credit card statement can feel like it’s written in a foreign language. However, credit card processing is one of your largest business expenses, so it’s important to know what these fees mean, and that you’re being charged fairly. Tidal is committed to complete transparency, so we’ll explain the common fees here and tell you when to beware. We’ll also give you a free, no-obligation statement analysis so you can see how Tidal helps you save.
Our hats go off to all the software developers out there. They’re creating some of the most amazing ways to interface with the world and make our lives and businesses better every day. Nowadays, most SaaS products, web applications or other technology requires a payment system on the back-end. When you’re at the point in development where you’re looking to integrate a payments solution, it’s important to keep these four considerations in mind.
The EMV transition is coming in October and it will affect all of your merchants, regardless of their size. The unfortunate fact is that only about 25% of merchants are on track to be capable to take EMV transactions by that time. While this is a problem for every merchant, smaller merchants will be disproportionately affected especially those that typically have large ticket transactions. After October 1, how many of your merchants will be able to shoulder the cost of fraud?
Your merchants don’t want to deal with hidden fees or get a robot when they need technical support. Neither do you. This is why it’s critical to thoroughly vet your processing partner for how they treat you as a “customer.” Are they only paying you out on a few revenue streams? When you call in with an urgent question is there a warm body on the other end of the phone?
PCI DSS and the PCI SSC requires ASV scans and SAQs for every merchant. Bleh. Enough with all the jargon. Here are some questions that we’ve been asked over the years with transparent, easy-to- understand answers. When you boil it down, PCI compliance is simple. Let’s start by de-mystifying those acronyms … PCI DSS – Payment Card Industry Data Security Standards. These are the benchmarks for security that every merchant account that accepts credit cards needs to meet.
When you’re looking for a credit card processor you’ll hear about different pricing structures such as tiered pricing, flat-rate pricing and interchange plus pricing. We want to pull back the curtain on a piece of interchange plus pricing. If you already have a processor, you might know about interchange or interchange plus pricing but what we’re going to talk about today is exactly what the interchange fee is. Whether this information is familiar or new, we hope it will help you make a smart decision about choosing a payment processor.
Many people think that credit card processing is a complicated process and, to be honest, we can’t blame them. From conflicting information online to complicated contracts and service agreements there’s a lot of confusion about how exactly credit card processing works and why it’s important. In this post, we’re going to break down the key steps that happen when you swipe a card or enter a credit card number so that it’s easy to know what’s happening behind the scenes.
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