Category Archives: eCommerce

Travel Agency Merchant Accounts

Travel Agencies and related travel-oriented businesses are considered high-risk merchants as far as credit card processors are concerned, and therefore are among the most challenging business types to get successfully approved for a Merchant Account. . The reason is that … Continue reading

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MasterCard Announces Increases for Spring 2011

MasterCard Worldwide has announced some changes to Interchange rates and assessments,  scheduled to take effect later this spring. ANY_ITEM_HERE Included among them is an increase in the Interchange rate for World Merit III, a MasterCard branded Rewards card, from 1.73% … Continue reading

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IRS Changes Affect Merchants

The Federal Housing Assistance Act of 2008 included the enactment of Section 6050W of the Internal Revenue Code. Section 6050W made it a requirement for ALL processors to report merchants’ gross sales amount from settled transactions (Visa, MasterCard, Discover, PIN … Continue reading

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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

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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