Latest PostsTax Time!
Tax Day is the day on which individual income tax returns are due to the federal government. When the country was in its infancy, it struggled to raise funds from the 13 original states. The government collected the first income tax during the Civil War 1862 – 1872 to fund the war and its costs. Early taxes were based on assessments, not voluntary tax returns. They set a flat rate of 3 percent on incomes higher than $800. Over the next four years, Congress expanded the tax as members cut t...Read More
Guest Blogger: Denise Walter 4/16/2018 Comments(0)
NO Signature Required? WHAT?
In our ever changing digital world, things are always changing. So it is no surprise that the way our cards are being accepted is changing as well. We are dipping the chip and using our watches and now we may not even be asked to sign the receipt! As of April 1st, 2018 - the card associations have elected to move away from requiring your signature. We thought it would be helpful for you to know how each card brand feels about this turn of events: Here is a quick recap of the statem...Read More
Cheri Perry 4/9/2018 Comments(0)
WATCH That Receipt! Partial Authorizations
U.S. merchants are prohibited from splitting credit card transactions, which they may be tempted to do when the total transaction amount exceeds the authorization limit stated in their processing agreements. In such scenarios, merchants would request multiple authorizations for portions of the total transaction amount, which would all be lower than the limit. We have advised you not to do that, because you will eventually be found out and pay the price for your misbehavior. Merchants are prohibi...Read More
Cheri Perry 4/2/2018 Comments(0)
Little Things Make a BIG Difference!
We have all experienced that 'little extra' that made a BIG difference! And while it is easy to see how those small measures impact our businesses, it is also very easy to overlook them while getting everything else done! Here are a few 'Little Things' that make a BIG Difference in the Merchant Services Industry- it is our hope that you will assess your current relationship and REQUIRE that your merchant services provider deliver BIG TIME on the Little Things! FULL DISCLOSURE: Fee structures var...Read More
Cheri Perry 3/26/2018 Comments(0)
Taking the RISK out of Credit Card Acceptance
Accepting credit cards can be an amazing tool and a double edged sword! Amazing because consumers who use credit cards, spend more money, more often than their cash paying counterparts. Sword-like because the various risk issues associated with card acceptance can cause business owners unwelcome stress. Let's look at a few of the ways we can minimize our exposure to the risks related to card acceptance. Proper Account Underwriting/SetUp/Maintenance One of the easiest ways to prevent stress and r...Read More
Cheri Perry 3/6/2018 Comments(0)