It is every bit interesting as it is ironic. The Internal Revenue Service is partnering with four debt collection agencies to track down people who owe delinquent back taxes. Here’s the irony: A government agency, the IRS, is partnering with merchants who are under strict watch of another government agency, the Consumer Finance Protection Bureau.…
Blog
Address Verification System: Finding the Sweet Spot to Prevent Fraud
As the war on fraud wages on, enlisting more fraud controls isn’t always the best course of action. Instances of fraud need to be examined and methods of prevention to be tweaked. It’s a game of cat and mouse: Just when we appear to have a handle on fraud, the miscreants worldwide find another way…
One Way Applying for a Merchant Account Has Changed
If you’re an e-commerce or POS merchant applying for a merchant account, it’s not unusual these days to field a few extra questions about your processing history, bank statements or business plan. Over the last five years, acquiring banks are paying more attention to merchant account applicants – validating who they are and what they…
Avoiding Tax Fraud: 5 Things Tax Professionals Would Never Say
‘When is my tax return coming?’ It’s a common question this time of year. For some, the return never comes, and it’s the beginning of a long and painful headache called tax fraud. Tax fraud victims, in most cases, usually don’t realize they have been swindled until after – sometimes long after – the crime…
Why Recurring Payments and Subscriptions are Here to Stay
I was guilty of thinking that the subscription model had seen better days. I know now that’s not true (forgive my Generation X ways). Merchants are getting creative with recurring payments models – it’s not just magazines, tolls and gym memberships that work well with subscription billing. Recurring payments, according to a recent study by…
Don’t Like the ‘High Risk Merchant’ Tag? Lower Your Risk Profile
We received a call from a high risk merchant recently who, after he was informed that his industry was considered high risk, posed a common question: ‘How do I get out of being classified as high risk?’ The short answer is, you don’t. Of course, we were more eloquent with our high risk merchant. We…
Instabill Partnership Enables for More European Payment Solutions
Recently, we feel like we’re on a roll the last few months with offering diverse, cutting edge e-commerce payment solutions, having partnered with several acquiring banks with reach into the far corners of the world. It is an exciting time, to say the least. Our latest partnership is with an acquiring bank that specializes in…
Instabill Offers New Online Wallet Account Solution
In its effort to find the best payment processing solutions for its network of merchants and partners, Instabill has partnered with a North American bank to offer an all-encompassing online wallet solution for merchants of all risk levels. For e-commerce merchants only, our new solution comes with many terrific benefits including fast access to funds,…
Include These 5 Details in Your Startup Business Plan
Every single day, Instabill merchant account managers are approached by e-commerce startup merchants anxious to begin credit card processing so they can launch their businesses. It’s what we do and we love it. The application process for acquiring the best merchant services and payment solutions for your startup business is more stringent than it was…
Why the FTC is Watching Debt Collection Agencies
When the Federal Trade Commission decided to pay more attention to the practices of collection agencies, it really meant it. A recent news item in Consumer Affairs is all the evidence needed. Apparently, a company called American Municipal Services Corporation, a debt collection agency in Texas that services more than 500 municipalities and collects utility…