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Eric Cohen, Chief Executive Officer of Merchant Advocate, identifies several potential flaws posed by the Credit Card Competition Act, including the challenging of choosing the best network; the major risk for increased fraud from smaller, cheaper networks; and unknown effects to rewards if less expensive networks offer fewer incentives to cardholders. Read More
What every medical and dental practice manager needs to know
Any business that accepts credit cards needs to take precautions to protect their customers’ personal data, but that is even more important for medical and dental practices which store precious health information. Healthcare is by far the largest sector targeted by cyberthieves; according to IBM’s cost of a data breach report, the average total cost of a breach in the healthcare industry was $10.1 million in 2022.
Are You Being Overcharged?
If you have that sinking feeling that you are paying more for merchant services than you should be, you are not alone. More than 72% of businesses are being overcharged. And if you are familiar with the statements provided by processors, you might have a guess as to how they are getting away with this unfair practice.