It seems we’re still getting a lot of questions on our forum around what is required to set up a merchant account. So let’s take it back to the basics today and we’ll go through the requirements of setting up a standard card present merchant account. With this information, hopefully we can make the process [...]
Reading the Fine Print of Merchant Account Agreements
We’ve done a lot of articles in the past on Interchange and what to look out for and yet, we still see small merchants getting trapped into long term contracts at rates so high, you might as well be sending in paper deposits. So we’ll stress again how important it is to pay attention to [...]
PCI – What You Need to Know
Security is top of mind for every merchant today. Every in your store needs to be secured against theft. You’ve installed security cameras and locks on your door to protect your merchandise. Your credit card information is no different and also needs to be protected. PCI, which stands for Payment Card Industry, was developed as [...]
Non-Qualified Transactions: Read The Fine Print!
Non-Qualified Merchant Account Rates (MDRs) As the world of merchant processing continues to evolve, complexities are introduced everyday into the way a merchant is charged for processing a credit card transaction. As the industry is becoming more and more competitive, Acquirers and Independent Sales Organizations (ISO’s) are becoming more and more creative in the way [...]
Cash Back: What is it & should you offer it?
Now with even your favourite coffee store accepting plastic, does anyone even carry cash anymore? While paying with cash is becoming more and more obsolete but there will always be those individuals who prefer to pay with this method. And with the ever growing concern of debt and money management, more and more experts are [...]
News: CFIB Drops Complaint Against Moneris
Just days after initiating a complaint against the country’s largest acquirer, Moneris Solutions, for violating the voluntary Code of Conduct, the CFIB has announced that they will drop the request for investigation after reaching a joint agreement with the acquirer. The complaint was originally initiated after thousands of merchants complained about a letter they received [...]
Canada vs. US – are we that different?
In most cases… I would say no. I mean, we’re all North Americans. International Merchant Account Services Vs. Canadian Merchant Account Services Both countries have folks who love their Starbucks and both have those who love either their Timmies or their Dunkin’ Donuts. We both have different demographics and a mixture of cultures throughout the [...]
MasterCard Fights Back Against Interchange Myths
Mastercard Canada released a press release a couple of days ago announcing they have accepted an opportunity to appear before the Senate Standing Committee on Banking, Trade and Commerce in order to discuss the payments industry, as well as to address the significant misinformation being propagated by retail sector lobbyists. “The many benefits Canadian merchants [...]
