The Fintech Times

FEBRUARY 14, 2024

Crucial for organisations worldwide, this transformation rewrites the rules and offers a seamless alternative to tedious data entry, high processing costs, and lost invoices, promising a new era of financial agility. This involves considering the size of your organisation and the volume of processed invoices.

Automation 103

Automation Process Duplicate Compliance 103

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Failure to comply with its policy frameworks can have severe consequences— legally and financially. Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Stax

JANUARY 24, 2024

Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. This enables merchants to process credit card payments at no cost to themselves.

Credit Cards 88

Credit Cards Laws Legal Caps 88

Stax

JANUARY 24, 2024

Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. This enables merchants to process credit card payments at no cost to themselves.

Credit Cards 88

Credit Cards Laws Legal Caps 88

Stax

SEPTEMBER 24, 2024

It’s meant to incentivize customers to pay using cash and reduce the costs associated with accepting electronic payment methods. On the other hand, surcharging passes the processing cost to the customer. Cash discount programs are legal in all states in the U.S. On the other hand, cash discounts are legal everywhere.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88

Stax

FEBRUARY 19, 2025

Future-Proofing: A modern integrated systems provider should be equipped to handle increased transaction volumes and evolving customer needs. If an outsourced provider fails to meet these compliance standards, your business could be exposed to serious legal and financial risks, including fines and reputational damage.

Payments 88

Payments PCI DSS Compliance Risk 88

Stax

JUNE 11, 2024

Cash discounting and surcharging can be offered together but merchants need to understand their legality and ensure compliance with card brand or card network (e.g. Also, clear communication with customers about price changes is crucial for building trust and ensuring legal compliance. Visa, Mastercard, etc.)

Debit Card 68

Debit Card Credit Cards Legal Adjustments 68

EBizCharge

AUGUST 30, 2024

Similarly, the size of your business and the volume of credit card transactions you process can influence merchant service providers to offer volume discounts or more favorable terms, lowering overall processing costs. However, there are ways they can avoid some of those costs.

Credit Cards 52

Credit Cards Processors Process Card Issuer 52

Stax

JULY 5, 2024

This fee falls under the category of of non cash adjustment—a term that a term that describes any additional charges applied to non cash payments to cover processing costs. Here, the noncash adjustment fee indicates that the customer paid with a debit or credit card and that the fee was added to cover the payment processing cost.

Adjustments 68

Adjustments Credit Cards Debit Card Best Practices 68

Stax

NOVEMBER 15, 2023

They significantly impact the cost of accepting card payments. Understanding interchange fees enables merchants to effectively manage processing costs, negotiate better rates, make informed decisions about card acceptance, and ensure compliance with payment industry standards.

Credit Cards 88

Credit Cards Processors Assessments Non-Bank 88

Stax

MAY 7, 2024

With credit card transaction volume hitting over $9.5 billion in processing fees, which was a 16.7% This pricing model charges based on the rates of the interchange fees at that specific moment, plus a markup fee that goes to settle the processor’s processing costs. When was the last time you withdrew cash from an ATM?

Credit Cards 88

Credit Cards Process Processors Online and Mobile Banking 88

Stax

NOVEMBER 8, 2023

Your business still has to incur all processing costs when a customer pays by debit card. The latter is simply another solution that some merchants use to lower their card processing costs. In this method, a certain discount (equivalent to the cost of card processing) is applied at checkout if a customer pays by cash.

Process 88

Process Credit Cards Debit Card Processors 88

EBizCharge

MAY 2, 2024

When customers pay with their credit cards, surcharging applies an additional fee that covers the specific cost associated with that transaction type. The surcharge cannot exceed the payment processing cost or legal limits set by state laws. This might mean slightly higher prices, with the processing costs factored in.

Credit Cards 52

Credit Cards Process Processors Legal 52

EBizCharge

NOVEMBER 12, 2024

A merchant application is a formal document a business owner must complete and submit to a merchant account provider to be able to accept and process customer credit and debit cards and electronic payments. Sales volumes: Document monthly sales volumes to evaluate transaction levels.

Online and Mobile Banking 52

Online and Mobile Banking Processors Debit Card Volume 52

Nanonets

MARCH 30, 2023

IDP also allows handling large volumes of unstructured data, making it an efficient solution for automating data-intensive tasks such as invoice processing, contract management, and compliance reporting. Improved Accuracy A 2008 research paper analyzed the occurrence of human errors in data processing.

Process 52

Process Automation Compliance Volume 52

Basis Theory

OCTOBER 1, 2024

Today, more merchants are becoming PCI DSS compliant despite not having the prerequisite volume to necessitate it. PCI Levels allow organizations to understand and determine their reporting requirements when processing credit card payments. This can significantly increase the cost of your compliance for years to come.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Stax

NOVEMBER 11, 2024

in payment volume growth in Q4 2021. When you’re selling products or services that cost thousands of dollars, you end up paying hundreds of dollars in credit card fees. Using ACH payments reduces your processing costs to a fraction of what you’d typically pay when a client uses a credit card. in Q4 2021.

ACH 88

ACH Checks Identity Theft Payments 88

Stax

MARCH 14, 2024

Getting cheaper rent is obvious, but modern technology has given us more options to reduce costs. Maximize Profit by Lowering Credit Card Processing Costs Credit card processing fees can become very expensive for SMBs. These are the fees your business pays to process non-cash payments and they can add up fast.

CRM 68

CRM Credit Cards On-Demand Product 68

EBizCharge

OCTOBER 17, 2023

These fees are intended to cover ACH return processing costs and encourage adherence to best practices to ensure more accurate and valid payments. 6 reasons why ACH returns are initiated ACH returns can be initiated whenever circumstances impede the transfer process’s completion.

ACH 52

ACH Returns RDFI ODFI 52

Seon

MAY 16, 2024

Operators may even face legal complications if found negligent in identifying and addressing fraudulent activities. To stop such losses, operators need an exponentially scalable solution to keep up with the increasing volume and velocities of fraud attempts. From the perspective of players, the ramifications are equally critical.

Fraud Prevention 52

Fraud Prevention Accounts Verification Legal 52

EBizCharge

JUNE 26, 2024

This accounting approach includes various manufacturing costing methods tailored to production processes, such as activity-based, standard, and process costing. Manufacturing accounting is crucial to maintaining inventory valuation, aiding the production cost analysis, and facilitating informed decision-making.

Accounts 52

Accounts Product Best Practices Process 52

Nanonets

JUNE 19, 2024

A PO system provides a thorough documentation trail, making it easier to comply with legal and financial regulations. Cost Savings : While there is an initial investment in setting up a PO system, the long-term savings can be substantial. Scalability and Growth : As a small business grows, its purchasing needs become more complex.

Small Business 52

Small Business Automation Audit P2P 52

Segpay

MARCH 10, 2025

Key Features of a Gaming Payment Gateway Gaming payment gateways are designed to handle high-volume, real-time transactions while ensuring security, speed, and flexibility. What Are the Costs Associated with Gaming Payment Gateways? How to Integrate a Payment Gateway into Your Gaming Platform?

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

EBizCharge

MAY 14, 2024

By offering a more efficient and user-friendly billing process, businesses can enhance customer satisfaction and loyalty, fostering positive relationships with their clientele. The volume of invoices and payment processes. Consider the following: The complexity of your billing cycles. The variety of payment terms you offer.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Nanonets

JULY 12, 2024

Legal Documents : Law firms can identify key clauses, dates, and parties involved in contracts or agreements, saving valuable time in document review. Although orientation and skewness might seem like simple mistakes, they can significantly impact the model's accuracy when dealing with large volumes of forms.

Process 52

Process Best Practices Automation AI 52

Nanonets

MARCH 14, 2024

Recap of the Procurement Process Before understanding 2-way matching, let’s quickly recap how procurement works in a business setting. Purchase order (PO) is a legally binding agreement issued by the purchaser to the vendor, informing of the type of product/service ordered and the quantity and prices agreed upon.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

NOVEMBER 15, 2023

Let's say you process 10,000 invoices monthly at $10 each. Now consider this: roughly a third of businesses surveyed were able to reduce invoice processing costs even more: a whopping 50%. As your business grows, you may need to onboard more vendors, handle larger volumes of invoices, or comply with additional regulations.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Segpay

FEBRUARY 28, 2024

Key Takeaways √ Hidden charges in payment processing can dig into and erode your bottom line. Merchants can implement several best practices to avoid surprise processing costs. 5 minute read Hidden charges in payment processing can seriously impact any merchant’s bottom-line revenues.

Processors 52

Processors IRS Push-to-Card Non-Bank 52