Revolution Payments Insights
These days, rarely anyone carries around a wad of cash. In the old days, before the era of plastic credit cards, folks that wanted to drop a large amount of money at once, for instance, to reserve a hotel room or go out to an expensive dinner, were required to carry a large amount of…+ Read More
If processing ACH payments and credit card payments in one solution with unified reporting wasn’t already convenient enough, QuickBooks users can now benefit from seamless integration. Revolution Payment Systems has released a lightweight application that quickly and easily builds itself into the native+ Read More
Level 3 processing is a unique class of credit card processing. The Level 3 classification only applies to specially issued Purchase Cards (p-cards) that are able to accept an enhanced set of data about the goods and services that are being purchased. Banks started issuing p-cards to federal, state, and local government agencies (GSA SmartPay)…+ Read More
For a merchant I represent, how much can be saved using Level-3?
It could be a great deal. Consider, for example, a merchant who processes more than $1 million per month in purchase transactions and receives a statement reflecting low “Data Rate 1” rates. For the merchant, this low level of data qualification could equate to nearly 3.5% in processing costs on every commercial card transaction (interchange + downgrade charges + surcharges). By having the merchant capture Level-3 data on every purchase card transaction, however, the provider could reduce the merchant’s rate to 2.20% while reducing the merchant cost by 130 basis points.+ Read More
The Mobile ACH Payments Rule becomes effective on January 1, 2011. To prepare for the rule introduction, NACHA and its Regional Payments Association members will be making available education and training materials to help ACH Network participants better understand the impact of the Mobile Rule before its implementation date.+ Read More
FRAUD CONTROL Card-Not-Present Extra protection when there’s no card Card-not-present (CNP) merchants must take extra precaution against fraud exposure and associated losses. Anonymous scam artists bet on the fact that many Visa fraud prevention features do not apply in this environment. Follow these recommendations to help prevent fraud in your card-not-present transactions. Visa CNP payment…+ Read More
More and More businesses are using Purchasing cards to purchase goods and supplies for their business in order to simplify the payment process by eliminating the need for purchase orders, invoices, or checks. As a result many merchants are now required to or may financially benefit from the ability to process Level III credit card…+ Read More
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