The New Economy came about due to a shift in the American economic paradigm that moved from predominantly manufacturing-based industries to service-based industries.
In this article, we’ll take a deep dive into credit card authorization rates. We’ll explore the fundamentals of credit card authorization, what credit card authorization rates are, and how different merchant types (MCC codes) can impact these rates.
Let’s start with the basics.
Since 2005 L3 Payments has been a leader in merchant account acquisition for high-risk and hard-to-place merchants.
You are likely reading this because you have heard the term “interchange” but are unfamiliar with what it means for you and your business. In short, interchange is an underlying cost for a merchant that allows their customers to use credit cards to purchase their products and services.
Chargeback. There’s that dreaded word again. Those two conjoined syllables that strike dread into the hearts of merchants far and wide. But fear not! What if I were to tell you that there are several ways to reduce your number of chargebacks, and that you can dispute them before they even go through the consumer’s issuing bank?
As a merchant, you may have heard the term “friendly fraud,” and the term may have confused you. Is it still fraud? Yes. Is it actually friendly? Well, not exactly.
The once confusing world of trial rules has new clarity, so what does that mean for you and your business?
When Square and Stripe entered the online payments arena, they made it simple for merchants to accept credit cards online and, in many ways, revolutionized credit card acceptance. While ease of use was a vital step forward, there are many pitfalls to working with Payment Facilitators that can end up costing merchants significantly.
Shopify customers frequently ask whether a merchant account set up through L3 Payments will work with Shopify. The answer is YES!
Big changes have recently been implemented that will benefit both merchants and consumers in the EU. A statement released by Merchants Payments Coalition, an international organization representing retailers, supermarkets, drug stores, gas stations and online merchants announced a reduction in "swipe fees" paid to banks and credit card companies. These swipe fees increase the...
