If you’re an iPhone user, you’ve no doubt explored a zillion cases and additions to your beloved device. From custom-carved wooden backs to hot pink protectors, the iPhone is one of the more augmented and personalized devices around. While I love a good wooden iPhone backing, the case I read about today is potentially far more influential (and worth even more money!). iCache Geode is an elegant solution to the problem of mobile payments – instead of trying to get merchants, vendors, credit card companies and device makers all into the same ecosystem, this fancy case works flawlessly within the…
Read MoreOnline Payments Go Offline
A few years back, it seemed inconceivable that the trust of cold hard cash, or the VISA/MasterCard/AMEX stamp of approval, could be replicated by an online equivalent. If you couldn’t touch it or feel it, it was hard to imagine our everyday methods of payment being usurped. Fast forward a few years (and a few hundred million smart phone user) to 2012, and the landscape is surprisingly different! Not only are people paying for their cup of coffee at Starbucks with an app, but just the other day I pulled into my local Cumberland Farm gas station / minimart and…
Read MoreEverything You Need to Know About PCI Compliance
In order to accept credit cards online, you’ll have to get your head around the 800 pound gorilla known as PCI-DSS. Everyone has to adhere to these standards from multi-million dollar companies to mom & pop shops. This comprehensive guide to PCI compliance will help you tick all the boxes. A Bit Of History Payment Card Industry Data Security Standard (PCI-DSS) compliance is a set of security requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. PCI was originally created by Visa and MasterCard. In 2006, they joined with American…
Read MorePaypal vs. Merchant Plus – Which One Is For Me?
Often we see businesses who have been using Paypal or new companies looking for their best payment options. Many times we’re asked – why should I choose a MerchantPlus Merchant Account vs. Paypal? The Upside of PayPal Paypal is a good start-up solution – they can get you up and running quickly and have a proven brand name that your customers will trust. They don’t have any monthly fees, so if you go days, weeks, or months without making a sale, it won’t charge you anything. For a small business just starting out online, that is a very comfortable feeling!…
Read MoreThe Difference in Merchant Account Rates — Why Not all Credit Card Processing Accounts Are the Same
As a merchant, you have to constantly monitor the money that comes out of your pocket. Finding any way possible to save money is beneficial for any business. When it comes to payment processing, you’ll often pay any combination of setup fees, application fees, monthly fees, monthly minimums, PCI compliance fees, transaction fees and annual fees. Merchant credit card processors will offer you a discount rate (i.e. the percentage taken out of each sale that you process) on credit card transactions. However, not all discount rates are the same. A discount rate is a small percentage of each transaction that…
Read MoreTaking payments online – when to upgrade from a personal PayPal account?
When starting out, PayPal can be a great option. But once you start processing decent amounts of money, you’ll get a better deal with a merchant account provider. To give you an idea of just how much you can save, use Fee Fighter’s PayPal calculator. For example, if your total monthly volume is $20,000 and average transaction is $100, your PayPal fees will be $530/month compared with an average merchant account fee of $468.48/month. Over a year, it really adds up. The big issue is when should you upgrade? If business is going well and likely to be ongoing, a…
Read More
