In the world of small business one term can have merchants dizzying in a state of utter frustration and sometimes paralyzing fear; chargebacks.  Despite the numerous benefits offered to small business by incorporating credit card payments into their business model, the issue of chargebacks can present a myriad of problems to the merchant caught unawares.  [...]

Hydro Grow lost over $20,000 dollars over the course of 2011 as a result of credit card fraud.  While those loses will never be recouped, Hydro Grow is now taking the steps to ensure that they are less susceptible to the fraudulent activity that cost them in the 2011 fiscal year.  As a small business owner it [...]

The days of coupon cutting on Sunday mornings might be behind us, at least in a physical sense. But those days haven’t completely gone by the wayside. All types of media have been making the conversion to digital and with the conversion of news outlets and booksellers to online marketplaces it was only a matter [...]

Costco Credit Card Processing

by Michael Lawson

“Michael, I’m a member of Costco and was told that I could receive a better merchant account though them than a typical processor – however when I started the process I realized I was going to be working with Elavon and not Costco – any advice on what’s going on here and whether I should [...]

As a small business owner you may have found yourself wondering, “What exactly does Merchant Discount Rate mean?” You would be surprised to learn how many business owners I speak with that are totally oblivious to how credit card processing rates and fees work. While a technical sounding term the Merchant Discount Rate is the [...]

What is Interchange

by Michael Lawson

Interchange is a fundamental part of the credit card processing industry and is the basis on which Visa and MasterCard transactions are run. Interchange represents the fee that is paid on behalf of you, the merchant, to the Bank that issued the customer the card currently being used. American Express and Discover cards do not [...]

Avoiding Chargebacks

by Michael Lawson

When a small business owner is trying to make it out in the big business world, there are several things that can make life very frustrating. One of those is chargebacks. I’ve worked with many of you that have had these chargebacks hammer your bottom line. As frustrating and expensive as chargebacks might be, they [...]