WYCCPDWYTK Tip #6: IRS Reporting Fees
In case you missed the news, the IRS has required processors to begin reporting credit card sales for every client merchant. This means that your processor will now send you a 1099 totaling your...
View ArticleDebit cards: $50 spending limit coming?
Ouch!!! Look what banks are considering in “retaliation” to the Dodd-Frank Act… http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm What might this mean? Rebirth of the personal check?...
View ArticleStraight from Heartland’s CEO…
“The Durbin Amendment will save our customers a total of $450 million dollars in its first year. Our average restaurant customer will save $1,992 dollars per year. This is more than our average...
View ArticleMore on the Durbin Amendment (from Senator Richard Durbin)
In this lengthy letter from Senator Durbin, he reminds the banks (one in particular) to keep their perspective. Check out this excerpt: “In conclusion, I recognize that Chase will likely see decreased...
View ArticleApril Interchange adjustments…
I mentioned a few of the changes in Interchange in my post entitled, “WYCCPDWYTK Tip #9: What rate increases!?!?”. Below are the changes for April (just in case you are a glutton for punishment or...
View ArticleDurbin Update & Advice
In a nice, short article from the National Restaurant Association, 2 recommendations were given to restaurants… • Ask for written confirmation from your processor that your Durbin rate decrease will be...
View ArticleMarching On to July 21st!!!
The Tester Bill failed to pass the Senate vote today! Great news for Durbin Amendment supporters! The Tester Bill, an attempt to delay the July 21st effective date of the Durbin Amendment is no...
View ArticleIt’s the principle of the matter (and it’s your money)…
If your CPA found an extra tax break for you, then proceeded to keep the money owed to you without saying a word about any of it, would you continue doing business with him? What if he only kept half...
View ArticleGuest Speaker at the Utility Payments Conference
Personal plug here… I was honored to speak about PCI Compliance last Thursday at the Utility Payments Conference in New Orleans. It was a great event, and I thoroughly enjoyed the experience. While...
View ArticleOuch… Small Ticket May Suffer at the Hand of Durbin
Well, the Durbin Amendment is set to go into effect October 1st… and for most merchants this should be a really good thing. Unfortunately, as I’ve already mentioned, it’s very unlikely that you will...
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