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Dwolla Reviews
Overview Launched in December 2009, Dwolla is an independent payment network that acts as an alternative to traditional merchant accounts and major online payment processors like PayPal. Rather than utilizing standard banking networks (which charge interchange fees on each transaction), Dwolla allows users to send and receive money to and from their dedicated Dwolla accounts […]
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NetSpend Prepaid Debit Card Reviews
Overview NetSpend Prepaid debit cards are reloadable magnetic stripe cards that can be used just like debit and credit cards to purchase goods and services. Unlike traditional payment cards, however, NetSpend cards are not linked to a line of credit or a bank account. Instead, they must be loaded with funds before they can be […]
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Vision Premier/Preferred Prepaid Card Reviews
Overview Vision Prepaid cards are reloadable prepaid debit cards that are marketed as an alternative to both cash and traditional banking accounts. Vision Prepaid users can load their cards with funds via direct deposit or through third parties such as retailers, MoneyGram ExpressPayment, PayZone, GreenDot MoneyPak, Visa ReadyLink, Western Union, or PayPal. They can then […]
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Snapcash Reviews
Overview Snapcash is a mobile money transfer service included in the popular messaging app Snapchat. Developed through a partnership with mobile payment processor Square, the service enables Snapchat users to send money to each other for free using a linked Visa or MasterCard debit card. After a debit card has been linked to a user’s […]
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American Express finally offers interchange-plus pricing through its OptBlue program
American Express has a well-deserved reputation among merchants as the more expensive alternative to Visa and MasterCard. This is because the company sets its own rates for credit card processing and has historically not allowed merchant account providers to alter or customize these rates in any way. As a result, American Express has long been perceived […]
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What the upcoming EMV liability shift means for your business
Will you be ready next October? October 2015 is the deadline imposed by Visa and MasterCard for all U.S. merchants to be capable of accepting EMV cards, also known as “chip-and-PIN” cards. These cards, which have already been in use in Europe for over a decade, store the cardholder’s information in a computer chip rather than […]
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Square to offer mobile chip card reader for $29
Mobile payments giant Square announced today that it will offer two mobile chip card (EMV) readers to U.S. merchants in the spring of 2015. The headphone jack reader (compatible with iPhone and Android) will retail for $29, while a separate EMV reader that connects to a merchant’s Square Stand will cost $39 per unit. This […]
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Signature Debit vs. PIN Debit: Which is cheaper?
Debit cards aren’t going anywhere. Mobile payments, virtual currencies, and real-time transactions may be at the cutting edge of payment technology, but they still can’t hold a candle to the popularity of the classic debit card. According to a 2013 Federal Reserve report, debit cards accounted for 38% of all non-cash transactions in 2012 (compared to […]
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What’s the difference between a merchant application and a program guide?
You might not know this, but merchant account contracts often come in two parts. As part of our regular investigation of merchant complaints, we’ve seen a lot of business owners claiming that credit card processing sales agents “never provided them with the full contract” at the point of sale. “I remember signing a three-page document,” […]
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How to prevent chargebacks
What is a chargeback? A chargeback is a customer-initiated reversal of a credit card payment—or, in other words, a forced refund. When any cardholder sees a charge on his or her statement that does not appear to be a legitimate transaction, that cardholder has the right to request and receive a reversal of the payment through […]