(The Answer is YES!) For some business owners, they feel like they are taking the right cost-cutting measures. Why take American Express, which charges slightly higher fees, when my customers usually have Visa or MasterCard as a backup? For example, Barry’s Burger Joint decided not to take American Express. When John pays for his dinner [...]
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So far Mike DiGiacomo has created 4 blog entries.
Mastercard, Discover, American Express and Visa Ditch Signature Requirement For decades we’ve been signing our names to make purchases at the counter. But now, the sales signature could be as relevant as the 8-track tape player. As of April 2018, the four major credit card companies scrapped requiring signatures after a transaction. For Visa, this only [...]
How Long Should A Business Keep Signed Credit Card Receipts? There are two primary reasons to keep signed credit card receipts: Dispute chargebacks Tax purposes Customers have anywhere between 60 days and 18 months to file chargebacks on purchases, depending on the bank that issues the card. Signed receipts are supporting documentation to the bank [...]
Using Credit Card Terminals Over Phone Lines For many years, the most common way to process credit card transactions was through a phone line. Even though the industry was slow to adopt high-speed internet connectivity, it is now the standard. However, some businesses still haven’t elected to upgrade to the speed and reliability that IP [...]