The Consumer Financial Protection Bureau's advisory rule on convenience fees clarifies whether collections firms can legally assess fees on consumer payments.
Dropped By Your Payment Processor? What Now?
The livelihood of your business depends heavily on your ability to receive payments from your customers. So, if your payment processor terminates your merchant account, your business is pretty much on hold until...
The Problems Facing Remotely Created Checks
Remotely created checks are a relatively convenient way to take payments from customers – and for years, RCCs or telechecks were a preferred method for consumers to pay bills and merchants to accept payments. However, RCCs have become so risky...
Why Multiple Merchant Accounts Are Better For Attorneys
Most attorneys are familiar with IOLTA or Interest on Lawyers Trust Accounts. The purpose of the account is to house client payments and settlements until it’s ok to move the funds into your operating account or remit funds to your client...
The Big Difference Between Credit and Debit Card Transactions
Credit cards and debit cards are two of the most popular types of electronic payments. The two are so similar, it’s hard to tell the difference. Depending on how the consumer chooses to use their debit card, it may...
The Rise of Electronic Payments
Think, just more than a century ago, consumer to business payments were made using only cash and coins. Today, the majority of payments are made via any number of electronic payment methods and can be made in person, over the phone, or online...
Four Huge Benefits of Accepting Debit Card Over ACH
Among all the payment processing options for merchants, ACH and debit are two of the most popular. The NACHA, the organization who administers and governs the ACH network, says that more than 19.1 billion ACH transactions are processed each year...