When a customer swipes or dips his/her credit card, a lot of things happen in those few seconds before the sale is approved. First, the Point-of-Sale (POS) Terminal sends the customer’s credit card details to the merchant’s credit card processor. …
Interchange, dues, and assessments (aka “Interchange”) refer to fees set by the card associations (VISA, MC, DISC, AMEX) that represent the base or “wholesale” costs of accepting credit/debit cards. All businesses incur these fees, which are paid directly to the…
That is the question. The answer isn’t as simple as a yes or no. In April 2018, Visa issued an official notice indicating that EMV-enabled merchants would no longer be required to capture signatures as a method of cardholder verification…