Old Dogs, New Tricks

03/13/2019

If there is one thing that those close to the payments industry know, it is that the industry is constantly evolving. We see payments getting faster and more convenient. With that said, the one thing merchants rarely see, as a part of all this growth and innovation, is shrinking cost. Payments, particularly card payments, just seem to be growing more expensive. While it is true that some portions of card acceptance, such as the fees paid to an acquirer, may be getting slimmer and more competitive, merchants still foot the bill for the most expensive component – interchange.

Interchange Fee Factors Merchants Can Influence

02/06/2019

Payments

For businesses nowadays, accepting payment cards is non-negotiable. The process of a payment card transaction seems simple; a customer swipes, dips, or taps their card, receives approval, and easy as that, they are on their way with their newly purchased products or services. However, behind the scenes of this seemingly simple process, several participants are working to complete the transaction. Participants can include the cardholder, the merchant, payment card networks, issuing banks, and card acquirers, each of which can include a fee for their participation in the transaction. For corporations, who can see thousands or millions of transactions daily, the fees can quickly add up.

No truce for the reduction of card interchange fees

02/04/2019

Payments

In November 2018, the Visa and Mastercard networks offered to reduce inter-regional multilateral interchange fees (MIFs) in Europe by at least 40% in response to the European Commission’s competition concerns. These fees apply to payments made in the European Economic Area (EEA) with consumer debit or credit cards issued outside the EEA. An example of such a payment would be an American tourist using a Visa or Mastercard card to pay for a restaurant bill in Belgium.

The Future of Cash: What You Should Consider

01/31/2019

Payments

With the increase of card payments, mobile payments, peer to peer payments like Venmo, and cryptocurrencies, there are many theorists who believe cash is dead. However, according to Payments Journal, it is alive and thriving. The Federal Reserve reports that cash is still the preferred payment method for transactions under $25 in retail and, specifically, quick-service restaurants (QSR) according to a QSR Magazine article. Additionally, in 2018, 41.1% of QSR transactions were in cash.

Regulation Changes Within the Payment Card Industry

01/28/2019

Payments

The payment card industry has changed since its inception. What are the regulatory agencies doing to keep card users data safe? And, which of those changes will cause your company’s systems to need to be updated?

Trends within the payment industry: there are benefits for merchants!

03/15/2018

Payments

It is a perfect time for merchants to be asking important questions regarding their current payment card processing to make sure that they are maximizing the use of available and appropriate services at a competitive rate, says Dan Carter, associate director at Redbridge.

“It is possible to offset the increase in scheme fees charged by major international networks,” Mélina Le Sauze, Redbridge

02/14/2018

Payments

At the time of the biannual review of its network fee schedule, applied to acquiring banks, Visa Europe has introduced new elements and raised the rates on ecommerce transactions. For Mélina Le Sauze, Director at Redbridge, these changes strengthen the interest in optimizing the allocation of acquiring bank flows.

Why are your Merchant Card Fees so hard to understand and manage?

10/23/2017

Payments

Knowing how your company stacks up against best practices and overall costs of acquiring your card-based sales is becoming more important, especially given the increasing growth of e-commerce and overall card-based sales, writes Aeron Sharp.

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