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8 Payment Trends to Watch in 2019
We expect 2019 to bring continued advancement in certain sectors of the payments industry as consumers, banks and businesses embrace new technology that provide alternative and easier ways to transact. For better or worse, these technology advancements will also likely lead to an increase government oversight. Here are our top picks to watch in 2019 (in addition to our prediction that the Patriots will win Superbowl LIII in Atlanta on Feb 3.)
A Behind the Scenes Look at Interchange Rates
Merchants continue to see increases in the cost of accepting credit card payments from their customers. The different types of payment cards presented for payment drastically affects the interchange fees merchants pay to process transactions. There are many solutions merchants are simply unaware of that can reduce the fees paid on certain card types. Easy Pay has been helping merchants maximize the tools available to keep their credit card fees as low as possible, and offers a free savings analysis for any merchant who would like to learn more.
The Real Scoop on Cash Discount Card Processing Programs
Visa announces cash discount card processing programs are in violation of their surcharge rules. Learn compliant ways to mitigate processing fees w/Easy Pay
The Ugly Side of Online Coaching and Seminars
Coaching and training programs are considered high risk by nearly every processor and bank, and FTC investigations make them even more concerned with the coaching/training industry in general. Promises of income, wealth and success can lead to big trouble for the companies that make those claims. Make sure your credit card processing account is not put at risk.
Why Banks and Credit Card Processors are Leery of Trial Offers
Since commerce has shifted drastically to the Internet in recent years (Q1 of this year had over $100 billion in U.S. online retail revenue) the concept of free trial offers has morphed, creating challenges for online marketers utilizing this strategy.
Make Money While You Sleep? This Guy Figured it out!
What if there was a way to build an income stream for yourself that would continue to pay you long after the initial work was done? Nearly every business today works with a credit card processing company to get a merchant account in order to accept credit cards from their customers. If you are the one who facilitates getting that business to work with a particular credit card processing company, you can receive a residual income commission every month for as long as that business stays with that processing company.
Top 5 Reasons Why You Should Be Accepting American Express
For years many retailers have thought that accepting American Express was more costly than taking a Visa, MasterCard or Discover card from their customer. It was also more work since American Express required a different application process for approval, and sales deposits settled into your bank account separately from your other credit card sales. On average most businesses see around 53% of their credit card sales volume from Visa, 22% from MasterCard, 21% from American Express and 4% from Discover, so not accepting American Express could directly be impacting your bottom line. If you’re not accepting American Express today here’s why you should think again:
What Beneficial Ownership Means and Why it Matters
The Financial Crimes Enforcement Network (FinCEN) new rules on beneficial ownership that were issued last year go into effect May 11, 2018 and banks, credit card processors and other financial institutions have been working for months to implement internal changes to comply with the new rules.
Things are About to Get Easier at the Checkout
While the new chip technology on credit cards and mobile payments has improved security overall, as a business owner you’ve probably noticed it has slowed down your checkout lines. After inserting the card and waiting for the purchase to complete, the customer must then sign the electronic tablet or in some cases a printed receipt handed to them from the cashier. Some stores required their cashiers to check the signature against the back of the card, and ask for another form of ID if the card wasn’t signed. The impact was pretty immediate and resulted in longer checkout lines, frustrating both you and your customers.