We wanted to update you on an item we ran last week, wherein California’s State Senate was on the verge of issuing its own mandates for a switch over to EMV standards in card transactions, setting April 1, 2016 as the date.
However, according to a report in Computerworld, “the full Senate missed the voting deadline of May 30, ending its chances of passage until a new legislative session begins.”
Securing a merchant account for a new business can be tedious, frustrating, and sometimes fruitless. Many financial institutions simply don’t want the risk. And they have tens of thousands of customers so they feel they can pick and choose who they would like to do business with and that means they may choose ‘not’ to do business with you. They may feel you are too high of a risk or they may feel that your business won’t be profitable enough to make many sales, making it unworthy of their time or resources. Yes, that’s the hard truth.
AVPS, LLC is a registered ISO/MSP of Central Bank of St. Louis, Clayton, MO
American Verification Processing Solutions, LLC., is a registered TPA (Visa) and SP (Mastercard) with SSB Bank
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