Dec
19
Chase Paymentech also has several complaints reported in various place online mostly with regard to fees being assessed and automatically withdrawn from business checking accounts. Chase Paymentech charges a cancellation fee for ending the contract prior to the end of the merchant contract term. Learn more in this Chase Paymentech review.
Dec
15
Downgrade Fee:
In the credit card processing industry, a “Downgrade Fee” is a blanket term used to signify surcharges added to the “Qualified Discount Rate” of the processing fee. In particular, the “Mid-Qualified” and “Non-Qualified” surcharges are the most common Downgrade Fees. However, there is no standard on what a Downgrade Fee must be called, or …
Dec
13
Non-Qualified Rate:
This fee is often referred to in the credit card processing industry as a “Non-Qualified Transaction Fee,” or “Non-Qualified Downgrade Fee,” or just as “Non-Qual.” The Non-Qualified fee is most often found in three-tier merchant account pricing schemes with the other two tiers referred to as “Qualified” and “Mid-Qualified.” This fee is actually a …
Dec
13
Mid-Qualified Rate:
This fee is often referred to in the credit card processing industry as a “Mid-Qualified Transaction Fee,” or “Mid-Qualified Downgrade Fee,” or just as “Mid-Qual.” The Mid-Qualified fee is most often found in three-tier merchant account pricing schemes with the other two tiers referred to as “Qualified” and “Non-Qualified.” This fee is actually a …
Dec
13
Qualified Rate:
Also referred to in the credit card processing industry as a “Qualified Discount Rate” or “Qualified Transaction Fee,” this fee is found in tiered/bucket merchant account pricing schemes. The Qualified rate is usually part of a three-tier fee model with the other two tiers most often called “Mid-Qualified” and “Non-Qualified.” There are many variations …
Dec
09
This review is for the Santa Barbara, California based CardPayment Solutions. CPS has a low-to-moderate amount of complaints filed online for a company of its size and time in business. The majority of the complaints report unexpected and higher than quoted fees, and poor customer service when attempting to resolve these issues. Learn more in this CardPayment Solutions review.
Nov
27
The Durbin Amendment, widely considered as a legislative failure, is now under attack by the very entities it was intended to protect. A group of retail associations and retailers have filed suit against the Federal Reserve in order to prevent enforcement of Durbin’s regulations, which were meant to lower merchant debit card swipe fees. Among …
Nov
17
In a move that supports Square’s new strategy for gaining market share in the existing business segment, the company has added a customer loyalty feature to its credit card processing application. The new program is part of Square’s 2.2 update and it is only compatible with customers who pay using Square’s Card Case, an app …
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