The recent Supreme Court ruling regarding online sales tax is going to significantly impact the US merchant services industry. Back on April 27 of this year, we blogged about the South Dakota vs. Wayfair supreme court case regarding whether it’s legal for a state (South Dakota) to force online retailers (Wayfair) to collect sales tax…
Category: Industry News
Gas Buddy Thriving with ACH Processing Bank Transfers (Other Merchants Should Follow)
With rising gas prices, we think Gas Buddy is on to something. We’re hopeful that other businesses will follow. Gas Buddy, the gas price website which locates the least expensive fueling stations by zip code, launched Pay with Gas Buddy one year ago, a discount fueling program that enables consumers to pay by ACH processing…
Dynamic CVV Codes Could Transform E-Commerce Merchant Services
We read recently that credit card processing giant WorldPay, also a longtime acquiring banking partner of ours, is in the testing stages of a credit card equipped with a dynamic, changing CVV code. We think it’s a terrific idea that would transform the business of e-commerce merchant services and significantly secure online transactions that are…
Chargeback Insurance for a Merchant Services Account? There’s a Better Way
We had a conversation with a colleague recently about merchants who invest in chargeback insurance, and whether it’s worth the investment. For some merchants and industries it may be, but there are some crucial factors to consider: Does chargeback insurance guarantee merchant services account protection, even if the merchant’s chargeback rate is hovering as high…
New Twist in Lending Could Trigger Uptick in ACH Payment Processing Solutions
We’ve offered both check solutions and ACH payment processing solutions to payday lending merchants since shortly after Instabill opened shop in 2001. Payday lending, which has always been a controversial industry, is about to get more interesting. The industry has been on a roller coaster ride within the last five years, with states imposing regulations…
4 Industries Desperate for Credit Card Merchant Account Services (and how to get them)
Lately the telephone calls, emails and leads that have been dominating our CRM have largely been from merchants seeking credit card merchant account services over four high risk industries: nutraceuticals, pharmacy, kratom and CBD. Finding payment solutions for these four industries is difficult, but not impossible – we take each merchant on a case-by-case basis.…
Subscription Merchant Accounts Surge in Popularity, Remain High Risk
Because we’ve long offered subscription merchant accounts, we’re excited for the possibilities of the subscription business model. It is undergoing a resurgence as of late, and it’s not just newspapers, magazines and health clubs anymore. Businesses have gotten creative with subscriptions and recurring billing schemes by offering products such as shaving kits, pet supplies and…
High Risk Merchant Services Solutions for Sports Betting? It’s Going to Take Time
We received quite a few calls this week regarding the possibilities for high risk merchant services solutions for sports betting from very excited merchants on the other end of the line. They were reacting to the U.S. Supreme Court’s overruling of the 1992 Professional and Amateur Sports Protection Act (PASPA) which made sports betting illegal…
Online Credit Card Processing More Challenging Than Ever Says Report
We’ve offered online credit card processing for the better part of 20 years, but we never dreamed we’d see this kind of volume of cyber attacks. The ThreatMetrix Q1 2018 Cybercrime Report contains the most disturbing set of figures we’ve ever seen regarding attacks on small e-commerce businesses. E-commerce attacks were twice as high in…
Schneiderman Resignation: What Does it Mean for U.S. High Risk Merchant Services?
American consumers are well aware of the certainties in life: death, taxes and philandering politicians. Though our home office is located in coastal New England, we are disappointed in the news that led to Eric Schneiderman’s resignation as the Attorney General of New York State because of his advocacy in the U.S. high risk merchant…