PAYSTAND BLOG

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

The First Three Things to Do When Faced with a Chargeback

Credit card charge disputes, or "chargebacks," are unfortunately a part of doing business. Reasons for chargebacks are numerous, from stolen credit cards to dissatisfaction with goods or services, and everything in between. Understanding chargebacks, and how your company should respond when faced with one can help make the process easier.

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Kenzie Earle Kenzie Earle on June 2, 2017

ACH, eCheck, merchant fees, credit cards, Billing Portal

Can Small Businesses Hope to Compete with the “Big Guys” on Credit Card Fees?

Innovators choose new payment tech
to get around transaction costs


To paraphrase Benjamin Franklin, there are three certainties in life for small businesses: death, taxes, and credit card interchange fees. These are the fees charged by the big three credit card issuers (Visa, MasterCard, and American Express) to merchants for accepting their cards. Although the marked-up rates charged by processing services can vary, it is widely accepted that interchange fees represent a hard floor of fixed costs that can’t be changed or negotiated. 

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Jeremy Almond Jeremy Almond on June 2, 2015

Bitcoin, payments-as-a-service, merchant fees, credit cards, mobile POS

Should You Stay or Should You Go? 5 Tips for Getting a Better Deal in Credit Card Processing

 

Most of the business owners we talk to have a "love/hate" relationship with credit cards. You love them because they enable your customers to buy things from you which they may not otherwise be able to buy, but you hate the transaction fees that take a big chunk out of your sales. 

We're here to tell you that when it comes to credit card processing, you don't have to "love the one you're with." New options for merchants, both online and at the point-of-sale, have exploded in the past few years. Many new entrants in the marketplace offer slick add-ons to mobile devices, but ultimately it's transaction costs that should drive your decision to stick with your current processor or move on. 

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Jeremy Almond Jeremy Almond on May 19, 2015

ecommerce, interchange plus, tips, business, merchant fees, credit cards, merchant statement

Is It Time to “Cut the Card”?

What the Internet Did for TV, It Can Do for Payments


Recently my family made a momentous decision—we moved into a new house, hooked up our broadband Internet through a local ISP, and didn’t call the cable company to set up service. A few years ago, “cutting the cord” from cable was a bold move by a minority of brave (or just frugal) pioneers in the frontier of digitally streamed content. As any early adopter can attest, it required a lot of patience, limited viewing choices, and often the purchase of a separate device to sit in between your TV and router. Today of course, streamed content looks just as good as cable, the viewing options have exploded, and with an HD antenna, we can even watch network TV for big televised events for free (is anyone old enough remember when TV was free over the airwaves?).

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Jeremy Almond Jeremy Almond on April 25, 2015

Bitcoin, eCheck, credit cards

PayStand Essentials: How to Decode your Merchant Statement

When we first started talking to business owners and nonprofits about lowering their transaction fees, we were surprised to discover that many of them had no idea what they were currently paying to accept credit cards. So, we offered to take a look at their current merchant statements to find out. What we found was even more surprising: most of the statements showed that these merchants were paying a lot more than the percentage rate they were originally quoted for credit cards. It took some digging to figure out the effective rate being paid, however, because merchant processor statements are universally inscrutable.

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Jeremy Almond Jeremy Almond on March 3, 2015

3-tier, Payments, interchange plus, flat rate, merchant fees, credit cards, merchant statement, How To

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