Lockstep

FEBRUARY 8, 2023

At face value, surcharging is a way for businesses to offset the fees they are charged by credit card companies. Using Lockstep your client can opt-in to pay with a credit card or by ACH. Surcharging can be a controversial topic today. In this blog, we discuss the pros and cons of surcharging, today.

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Credit Card Payments Credit Card Companies Transactions Payment Portals 52

Fundera

OCTOBER 30, 2018

Any small business owner who accepts credit cards should understand how credit card processing fees work. Credit card processing typically costs businesses between 1.7% per transaction. When you add up credit card processing fees over time, they can really eat into your bottom line.

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Credit Card Payments Credit Card Companies Transactions Small Businesses 73

CreditStrong for Business

MARCH 10, 2023

Fortunately, there are ways to improve your overall credit profile to offset the adverse results that late payments have on your credit score. Equifax, Experian, and TransUnion, the three major credit bureaus, compile the data that creditors report. The type of credit account alone should not make a difference.

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Fundera

NOVEMBER 1, 2018

Prepaid business debit card holders preload their card with however much money they want to spend, ensuring that they never go over their limit or spend more than they can afford. The credit card companies began offering lines of credit that were collateralized with an equal sum of money deposited with the credit card bank.

Small Businesses 49

Small Businesses Credit Card Payments Credit Card Companies Credit and Collections 49

Lockstep

FEBRUARY 22, 2023

Using Lockstep Self Service, your client can opt-in to pay with a credit card or by ACH. For credit card payments, a modest surcharge covering the cost of the transaction processing fee and Interpayments fees will be added. For example, businesses are not allowed to surcharge debit cards.

Credit Card Payments 10

Credit Card Payments Credit Card Companies Credit and Collections Transactions 10

Fundera

MARCH 17, 2019

At a certain point in their operations, most small business owners will need to be able to accept and process credit card payments at their point of sale, as plastic is likely the preferred payment method of the majority of their clients and customers. That way, you can start accepting credit card payments ASAP.

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Credit Card Payments Transactions Nonprofit Organizations Credit Card Companies 40

Fundera

JANUARY 27, 2019

Plastiq is a payment app that lets you consolidate all your purchases onto credit cards, maximizing rewards and cash back. Consumers and small businesses can use Plastiq to pay with a credit card, even when a vendor won’t accept credit card payments. Photo credit: Plastiq. Plastiq Fees.

Small Businesses 40

Small Businesses Credit Card Payments Dashboards Credit Card Companies 40

Fundera

JULY 5, 2018

With a prepaid business credit or debit card, the user preloads with the value of their choice from a business bank account —which means you can’t spend more than their limit. Prepaid cards also carry logos of major credit card companies like Visa or Mastercard, so they’ll work where most credit cards are accepted.

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Credit Scoring Credit Card Companies Credit Card Payments Default 55

Fundera

MARCH 22, 2019

A merchant services provider (or MSP for short) is a company that helps retailers process credit card transactions. This means in-store swipes, online payments, or a combination of both. MSPs typically offer their client companies credit card machines, POS terminals , and online credit card transaction processing.

Transactions 40

Transactions Small Businesses Credit Card Payments Credit Card Companies 40

Fundera

JANUARY 7, 2019

Sometimes you can’t make a credit card payment, or find that there was an account error that prevented your auto-pay from going through. Any time you fail to pay your card on time, or in accordance to the terms of your account, you’re likely to face a late fee on top of your existing overdue payment.

Deductions 50

Deductions Credit and Collections Credit Card Payments Credit Card Companies 50

Fundera

DECEMBER 3, 2018

Think of it this way: POS stands for “point of sale,” which is just a succinct way of referring to the place where a retail transaction is processed and completed—i.e., At its heart, a POS terminal is your business’s payment processing hardware, embedded with software that accepts debit and credit cards. Good question.

Credit Card Payments 40

Credit Card Payments Credit Card Companies Transactions Small Businesses 40

Fundera

APRIL 5, 2018

That said, you can be pretty certain that the card issuer will consider this criteria really carefully when you apply for your business credit card. Credit card companies want to know that you’ll spend responsibly, and that your revenue can handle monthly credit card payments.

Credit Scoring 49

Credit Scoring Credit and Collections Credit Card Companies Credit Card Payments 49

Fundera

NOVEMBER 19, 2019

for card-not-present transactions. Payment service providers, like WePay and Stripe, provide small businesses with payment gateways , which enable your site to accept electronic payments. WePay is an online payments service based in the United States and is now affiliated with Chase Merchant Services.

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Transactions Credit Card Companies Credit and Collections Small Businesses 40