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Reducing Payment Fees: Not Just a Fad

By Anand Goel U.S. merchants will spend over $90 billion in credit card processing or swipe fees in 2019. For many organizations, these fees represent one of their top five operating costs. INCREASING COSTS Swipe fees continue to grow, not only due to an increase in card sales, but also due to increases in interchange and [...]

By |2019-05-23T14:49:23-04:00May 23rd, 2019|General|0 Comments

PIN-Based Payment Companies Could Benefit From Consolidation

Anand Goel was quoted in this article on Forbes.com by Yizhu Wang and Christopher Kane on the benefits of consolidation for PIN-Based payment companies. There’s money —a lot of money — to be made helping people spend theirs, from signing on a check and swiping a card to tapping your phone on a point-of-sale terminal. [...]

By |2019-05-23T14:39:18-04:00May 23rd, 2019|General|0 Comments

Premium and Super Premium Cards – The Silent Killers

Over the years, we have seen many increases in interchange fees. Every 6-12 months, Visa/MC will pinpoint specific interchange rates that they choose to go up or down (mostly up). These increases usually apply to only a few categories each release, and they are fairly straightforward to forecast the cost impacts. For example, in October [...]

By |2018-07-02T21:23:00-04:00July 2nd, 2018|General|0 Comments

American Express is Changing their Approach to Merchant Services

Within this complex world of payment processing, one major card network is taking a different approach to merchant services. American Express’s new CEO, Stephen Squeri, announced earlier last quarter that AmEx will be reducing their global merchant discount fees (“swipe fees”) by 5-6 basis-points, which could be their largest decrease in price in the last [...]

By |2018-06-05T08:51:08-04:00June 5th, 2018|General|0 Comments

The High Transaction Costs of Unattended Kiosks

Unattended self-service terminals and kiosks are all the rage right now.  They can be great way for a business to take payments in areas where it is not cost-effective to provide a cashier or clerk.  Think, a vending machine in an office building or at an amusement park.  And since no one carries cash anymore, [...]

By |2018-02-28T23:06:40-04:00February 28th, 2018|General|0 Comments

Mobile Payments Growing in the U.S.

Consumers are constantly looking for more convenient ways to make purchases.  While some consumers are slow to adopt the use of mobile payments, many love the convenience especially as more and more merchants are offering it as a payment option.  Many merchants are even incorporating reward programs and deals with their mobile apps, making it [...]

By |2018-02-26T10:53:40-04:00February 26th, 2018|General|0 Comments

Alipay expanding to US Retailers

Alipay is one of China's top mobile payment services claiming 450 million user worldwide.  Most of those users are in China, but their service has been growing and reaching into markets that are popular with Chinese tourists.  The newest retailer to accept Alipay is New York City's Asian American grocery chain, iFresh. Read More

By |2018-02-19T09:30:07-04:00February 19th, 2018|General|0 Comments

EBay splitting from PayPal

EBay has announced that it is replacing PayPal for its primary payments processing with Adyen, a Dutch firm.  EBay and PayPal split back in 2015 but had still been tightly linked.  EBay plans to take more direct control of payments with this new move and has said the partnership with Adyen would lower costs for [...]

By |2018-02-04T23:29:41-04:00February 4th, 2018|General|0 Comments

AFP Payments Guide: Better Card Management Solutions

OPC's Anand Goel was quoted in this article in AFP Payments Guide. Ever-Rising Costs Push Merchants Toward Better Card Management Solutions As payment processes and technology become ever more sophisticated, the rules and fees related to cards continue to multiply, as do the opportunities for fraudsters to find cracks in the system. Fortunately, the technology and [...]

By |2017-12-29T13:19:19-04:00December 29th, 2017|General|0 Comments