We posted this originally back in 2017 - but thought it was worth re-posting as an important reminder!  Today more than ever, you need every $ in your bank account.

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In some businesses, credit sales account for over 80% of their daily sales.  If this is your business, you are depositing very little cash every day.  And while most of us count for and reconcile the cash, are you reconciling your daily credit card deposit to the credit card batches that actually go into the bank?  It seems easy and automatic, but here are a few tips and tricks we have learned over the last couple of decades installing integrated credit card systems.

One of our processing partners, Clearent, offers insights to the differences between the Daily Discount and the Monthly discount for credit card fees and why it might be useful during this economy:

The Power of Daily Discount

In reference to last month's article about the TLS issue, we just want to remind everyone again that if you have not updated your point of sale system, most likely your integrated credit cards* will stop working in June.  While the official deadline is June 30th, many gateways are proactively switching over before then.

In some businesses, credit sales account for over 80% of their daily sales.  If this is your business, you are depositing very little cash every day.  And while most of us count for and reconcile the cash, are you reconciling your daily credit card deposit to the credit card batches that actually go into the bank?  It seems easy and automatic, but here are a few tips and tricks we have learned over the last couple of decades installing integrated credit card systems.

With all the talk about EMV, PCI  and Security requirements have taken a back seat when talking about accepting credit cards at a business.

Did you know that any merchant installing a PA-DSS (payment application should be using a company that is a PCI-certified QIR professional?   The Payment Application Data Security Standard (PA-DSS) is the global security standard created by the Payment Card Industry Security Standards Council (PCI SSC). 

 An acquirer will not be allowed to board a merchant as of March 31^st 2016 if they are not installed by a QIR.  (An acquiring bank, or acquirer, is a bank or financial institution that processes credit or debit card payments on behalf of a merchant.)