A few days ago, Google sent out a note to their customers using Google checkout to advise that they will no longer be supporting this service. In return, they were changing their customer accounts to a Google wallet account. So what exactly does this mean and how does it affect Canadian merchants? Google checkout was [...]
Chargebacks – How to Protect Your Business
Chargebacks… one of the most dreaded terms of the merchant processing industry. Properly defined, it’s the dispute initiated by either a cardholder or a financial institution against a transaction that was processed at your store. Either the customer was unsatisfied with the product or they didn’t receive the goods or the worst, a fraudster has [...]
Canada is One Step Closer to Becoming a Cashless Country
There is an interesting article about Canadian Payment Processing that was published on Yahoo News the other day by Marc Weisblott. Marc says, “Debit card accounts were being compromised across Canada at an alarming rate in recent years: $142 million was reimbursed to victims in 2009, compared to $60 million just five years earlier. The [...]
Code of Conduct for the Credit and Debit Industry – Part 1
Decoding the Code – Part 1 On April 16, 2010, Finance Minister Jim Flaherty introduced the Code of Conduct for the Credit and Debit Industry in Canada. This was in response to the merchant outcry for more legislation in the card processing industry. The perception was that the payment card brands were free to set [...]
How to Automate Your Recurring Billing With a Virtual Terminal
Business is no longer necessarily face to face practice. Over the years, with the inception of the digital age, business too has become a faceless transaction. There are a countless number of reasons as to why this is beneficial and the ability to conduct business at great distances has changed the very face of commerce [...]
5 Dirty Little Secrets About Merchant Account Services (ISO’s) From a Guy Who Has Worked At A Half Dozen Merchant Account Companies
First, the good news: They are not all crooked, in fact a good portion of ISO’s are honest hard working men and women who have no intention of squeezing every penny out of you. Unfortunately, those that want to help you are outnumbered by those who are less than honest. What you are about to [...]
What the Difference is Between an ISO and Bank Related Merchant Account?
When considering where to obtain merchant services, there is no shortage of providers to choose from now a days that’s for sure! There is no doubt that processing has become a lucrative business. Over time, the service has been de-regulated, so merchant’s have much more choice as to who they want their provider to be. [...]
Mismatched Totals or Out of Balance – How To Fix
You’re tired, it’s late and you want to go home. After an exhausting day you have just one task to complete on the Point of Sale terminal and that is your end of day settlement. Usually it is a two minute task but tonight when you go through the normal procedure the terminal is telling [...]
Applying For a Merchant Account? How To Help You Get Your Application Approved Quickly
Supporting Documents Is KEY To A Quick Approval Often merchants do not understand why they need so many supporting documents to apply for a merchant account and by being dis-organized about your supporting documents can cause the merchant account application process take longer and even cost you an approval. Applying for a merchant account is [...]
