Category Archives: Debit Card Processing

Merchant Tax Reporting

The Housing and Recovery Act of 2008 included Amendment 6050W, Merchant Tax Reporting.  The purpose of this Amendment is to encourage accurate tax reporting.  The Amendment requires all payment processing organizations to report gross sales,  collect and verify TIN numbers, … Continue reading

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Posted in Credit Card Processing, Debit Card Processing, eCommerce, Merchant Accounts, Tips & Advise, Useful Business Services | 1 Comment

Verifone Acquires Hypercom

Verifone has announced plans to acquire Hypercom, a major competitor   in the credit card terminal industry. To view the press release announcement Click here

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Posted in Debit Card Processing, Healthcare, Processing Equipment | Leave a comment

Justice Dept. Settles with Visa & MasterCard

According to reports in the Ft. Lauderdale Sun-Sentinel,  the US Justice Department  settled disputes with Visa and MasterCard on October 4, 2010.  The bankcard associations have agreed to allow merchants to offer discounts to consumers who use less expensive types … Continue reading

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Posted in Credit Card Processing, Debit Card Processing, Merchant Accounts | 1 Comment

Wal-Mart Credit Card Processing Outage

A Wal-Mart Stores data system failure left shoppers unable to use some credit and debit cards on 9/23/2010, a spokesman for the world’s largest retailer said, according to CNN.com. The outage lasted about 90 minutes at Wal-Mart and Sam’s Club … Continue reading

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The Dodd-Frank Act: What it might mean to Merchants

ANY_ITEM_HERE The Dodd-Frank Reform and Consumer Protection Act, signed by President Obama in July 2010, is now law. Included in the act is the Durbin Amendment, a provision in the bill dealing with debit card Interchange fees and other issues … Continue reading

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Posted in Credit Card Processing, Debit Card Processing, eCommerce, Healthcare, Merchant Accounts, Tips & Advise, Useful Business Services | Leave a comment