Main | July 2009 »

June 16, 2009

RBS WorldPay breach exposes 1.5 million
Payment processor buries bad news


US credit card payment house breached by sniffing malware
Suspicious activity in the Heartland


Heartland data breach hit 160 banks (and rising)
How deep does the rabbit hole go?


Why Use "Your Credit Card Lady"

"One person can make a difference" is our motto. We stand by that to provide you with top notch customer service.

 If you are ready to grow your business and you are seeking the tools, exceptional resources, pricing flexibility and unparalleled support to help you, don’t wait any longer.

We can save you money on your credit card processing!!!
We can reduce Fraud!!
We can save money on equipment fees!!
We can save you time!!
Access from ANYWHERE!!

Our goal is to help you make your business as efficient and profitable as possible.

Call us and learn more. Let's discuss your goals and formulate a plan together.

Rate Classifications

Qualified rate:

The percentage rate a merchant will be charged when accepting a regular consumer credit card and processing it via a standard processing solution. (swiped or with all required information).

Mid-qualified rate:

Applies to cards that are not processed in the “standard” fashion. (keyed into a card terminal instead of swiped). Or will apply to special credit cards such as rewards or business cards where required information is not supplied.

Non-qualified rate:

Usually the highest percentage rate charged and may occur for the following reasons:

Credit transaction is keyed into the terminal instead of swiped and address verification is not performed.

Credit transaction involves a business card and all the required information is not provided.

The merchant does not submit their daily batches in the defined time frame.(Usually 24 to 48 hours).

Types of credit/debit cards:

Credit cards types include Visa, MasterCard, American Express, Discover to name a few but also include fleet card such as Wrights Express, Fuel Man, Fleet One and more.

Visa, MasterCard, American Express and Discover also offer cards classified as level II and level III business cards. These cards require additional information entered with each transaction to receive the lowest possible rate (purchasing information, address verification etc.)

What are interchange rates?

Visa and MasterCard publish a rate schedule which represents the cost charged the ISO / MSP to process your credit/debit transactions. These rates will vary depending on the card type and circumstances of the reporting method.

Credit Card Processing - What is it and how does it work:

Credit card processing is the means by which a merchant accepts payment for goods or services via a credit/debit card. This information is transmitted to credit card company via an ISO / MSP (Independent Selling Organization / Member Service Provider) for funds deposited into a merchant’s bank account of choice.