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An INSIDE Analysis of Credit Card Processing and the Payment Industry
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The Payment Industry, and in particular, credit card processing, is complex. Without an unbiased insight, a merchant can easily fall trap to unfair pricing and pay large fees to accept credit card payments. Merchants are faced with confusing statements, hundreds of various payment processing fees - including costly layers of discount rates, transaction fees and surcharges - in addition to the numerous processing options offered by merchant service providers, payment gateways, and other payment processing entities. Our role, at VeriProcess, is to help organizations that accept credit card payments reduce their payment processing expenses by identifying and correcting areas of overspend. We function as merchant advocates and our expense reduction services do not require you to change your existing merchant service provider. Our experience and expertise in the Payment Industry puts the knowledge in your corner when navigating the complexity of payment processing, and our results-based fee model incents us to deliver maximum savings.

One of our goals at VeriProcess is to develop more informed, knowledgeable merchants, as we believe the more you know, the better you can drive your business toward greater efficiency and, ultimately, financial success. The articles, posts, and whitepapers from the PAYMENTINSIDER will help you navigate the complexity of payment processing and will create transparency for an industry that is troubled with confusion and questionable practices. Of course, you don’t have to understand all the intricacies of the payment industry – that’s our job.

Payment Processing Information FEATURED POST:
Payment Industry Term: Merchant Acquirer - Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Merchant Acquirer, when used in context with payment processing, means: Merchant Acquirer – A member that has entered into an agreement with a merchant to accept deposits generated by bankcard transactions; also called the acquirer or acquiring bank. For additional information ... Read More
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The VeriProcess merchant service audit, processing optimization, and reporting will help your business eliminate unnecessary credit card fees while delivering maximum transparency and measurable results. Our approach is simple, but our results are effective. Start Saving Today!
PAYMENT INDUSTRY ARTICLESPayment Industry Postings

Visa and MasterCard Interchange Downgrade Fees

What are the penalties or fees associated with downgraded Visa and MasterCard transactions? Downgrade fees, or surcharges, for credit card transactions are relative to your type of merchant account plan. Merchants may process under various plan types – Tiered / Bucketed or Interchange Plus / Passthrough – depending on how the provider sold the merchant on the account. For this article, we’ll assume an Interchange Plus or Passthrough type of account, as that is the … Read More »

Who is the Best Merchant Services Provider?

There is no single merchant service provider that can be considered the best. A merchant needs to evaluate several options, but before even researching merchant service providers, they should have a grasp on their specific needs and limitations, and understand the basics of merchant services. A merchant who only needs to run a limited number of transactions through a virtual terminal or payment gateway may find a better fit with one merchant service provider versus … Read More »

Merchant Service Provider – Underwriting and Risk

A merchant service provider offers many products and programs to help businesses process payments and may also act as the underwriter on your merchant account; meaning they assume the risk should your business not deliver on its promise. The Risk The risk associated with credit card processing is complex. There are a number of variables that are considered when determining a merchant’s payment processing application: Merchant’s longevity and financial stability Type of industry and business model … Read More »

Payment Processing Downgrades

The Visa, MasterCard, and Discover Card Associations all maintain Interchange Downgrade rates for credit and debit card transactions that do not meet the requirments for the transaction to clear at the card type’s correct Interchange Rate. Downgraded Interchange Rates are higher than the card’s normal Interchange Fee, so it’s always in a merchant’s best interest to avoid downgrades whenever possible. Always clearing transactions at the correct Interchange, and avoiding downgrades allows merchants to obtain the … Read More »

Merchant Service Review Sites – Be Careful

Searching for a new merchant services provider? Want feedback or need some advice on which provider to choose? A logical place to search for these answers would be a site or resource that provides a breakdown of services and offers reviews for the multitude of companies that offer merchant services. However, merchants should be very careful when using these sites that offer reviews on the top merchant service providers or payment processors. Oftentimes, these sites use … Read More »

E-Commerce Overview

Electronic commerce, commonly known as E-commerce or eCommerce, is a term for any type of business, or commercial transaction that involves the transfer of information using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. It covers a wide range of business types, from consumer based … Read More »

PCI Compliance Overview

PCI Compliance refers to the security standards established by the Payment Card Industry (PCI). The Payment Card Industry consists of all the organizations which store, process, and transmit credit card data. The security standards are developed by the Payment Card Industry Security Standards Council, which develops the Payment Card Industry Data Security Standards used throughout the industry. Individual card brands establish compliance requirements that are used by service providers with their own compliance programs. The … Read More »

Authorize.net Payment Gateway

Authorize.Net is a payment gateway service provider allowing merchants to accept credit card and electronic check payments through websites and Internet auction sites. Accepts all major credit and debit cards Authorize.Net eCheck.Net Fraud protection services, including Address Verification Service (AVS) and Card Code Verification (CVV2) Simplifies PCI Compliance Recurring or subscription billing  

PayPal Payment Gateways

A payment gateway links your website to your processing network and merchant account, and enables credit card payments for online transactions. Like most gateways, the Payflow payment gateways offered by PayPal, handle all major credit cards. Accepts all major credit and debit cards, plus PayPal and PayPal Credit payment options Buyers can also use mobile optimized checkout when they shop from their smartphones Reduces the workload of PCI Compliance Fraud protection services Recurring billing Buyer … Read More »

What is a Payment Gateway

A payment gateway is an e-commerce application service that submits credit card payments for e-businesses, online retailers, and other online storefronts. It acts as the equivalent of a physical point of sale terminal, located in most retail outlets. Payment gateways protect credit card details by encrypting sensitive information, such as credit card numbers, to ensure that information is passed securely between the customer and the merchant and also between merchant and the payment processor. This … Read More »

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