Suddenly, there are news stories about credit card disputes everywhere. Fox Business had one about consumer complaints, but those aren’t the same thing. Or rather, we might consider charge disputes a subset of overall “complaints,” which could include everything from bad service, to not crediting a payment, to not honoring a stated interest rate, and more.
Category: Merchant Solutions
Proposed Changes to CARD Act Could Mean More Credit Customers For You
Under the CARD act of 2009, it actually became harder for at-home spouses to get their own credit card, as Federal Reserve Regulations required a credit card issuer to verify the individual applicant has income or assets available to make payments — regardless of the total household income. Current proposals to change the CARD Act would allow a non-working spouse or partner over the age of 21 to report shared household income from the working spouse or partner in order to apply for a credit card in his or her own name.
Credit Card Trends Point to More Mobility
Aside from the all the big election news this week, a couple of smaller items popping up in the newsfeeds on the credit card front point toward a rapidly changing landscape there too, one where mobile payments are even more common.
Lessons of a Bookish Breach
As you may have been reading in the news this week, there’s been another breach in a merchant credit card system, this time hitting 63 Barnes & Noble outlets across the country. While the breach — and resultant damage — seem to have already been contained (since the original hack occurred in September, but wasn’t announced until now, per the wishes of FBI investigators). Customer swipe machines at various B&N’s were compromised, and sent account info to the hackers themselves, who seem to have briefly used the information for purchases throughout the fall, though those curtailed.
Coming trends: E-commerce becomes M-commerce
If you’ve picked up on “underlying themes”in recent AVPS blog posts, you’ve noticed that –aside from the seasonal entries on…
Why Go to the Bank When You Can Bring the Bank to You
When looking to move a business online, you will find that you have many options in terms of how you accept payments for bills or for your goods and services. While many traditional banks offer merchant account solutions, these services are typically very costly and the rates and fees will depend on your credit as well as other criteria. This can certainly be an option if you prefer it, but for many businesses, a merchant bank account is something that could better obtained from an ISO.
Got a phone? You’ve got check verification!
When looking to move a business online, you will find that you have many options in terms of how you accept payments for bills or for your goods and services. While many traditional banks offer merchant account solutions, these services are typically very costly and the rates and fees will depend on your credit as well as other criteria. This can certainly be an option if you prefer it, but for many businesses, a merchant bank account is something that could better obtained from an ISO.
More on MCAs
No sooner does a blog post run here at AVPS on using Merchant Cash Advances to augment cash flow for your business in tight times, than the subject starts appearing in financial news headlines. Business News Daily ran a piece on the same subject, stating “In this era of tight money, many small businesses feel that they’ve been hung out to dry by traditional lenders, a new survey shows. As a result, a growing number of companies are turning to alternative sources of funding, such as merchant cash advances (MCA).”
