Month: December 2012
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China UnionPay, a world leader in credit card payment processing
In the U.S. Visa and Master Card are household names. But have you heard of China UnionPay? Due to its affiliations with Visa, Master Card and American Express, it is accepted in more than 135 countries and regions, China UnionPay is a world leader in credit card payment acceptance and processing. The Shanghai based China…
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Monitor your credit report and watch your credit score
Three major credit bureaus, Equifax, Experian and TransUnion, keep a close watch on your financial dealings. They not only keep your credit history, they calculate a score for you. Better known as the FICO (Fair Isaac Corporation) score, it is the widely used measure by all major financial institutions before considering you for a mortgage…
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What to Do if You Are Placed on the Terminated Merchant File
Getting placed on the Terminated Merchant File is one of the worst things that can happen to you if you are a business accepting credit card payments. It means that you have had your account terminated by a merchant bank and have now been placed on a list shared by merchant banks such as Solid…
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Who is processing credit and debit cards?
Credit and debit card purchases accounts for 30 percent each of retail transactions in the U.S. Visa and Master Card dominates the retail sector credit and debit purchases while American Express, Discover Financial Services and VeriFone fills the remainder. Both Visa and Master Card are much popular in overseas and international transactions generate more than…
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About Chargebacks
Credit card chargebacks happen when a customer, for any number of reasons (ranging from fraudulent use of a card to dissatisfaction with the good or service received), disputes a credit card transaction through her issuing bank. The chargeback process is designed to increase consumer confidence — it’s very easy for credit card users to dispute…
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Who is keeping your credit information?
Many of us are very familiar with the three digit FICO (Fair Isaac Corporation) score. It is important in determining new credit as well as the interest rate charged to you. The higher the score, the lower the rate a lender will charge you for your car loan, insurance premium, revolving credit such as credit…
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Paying off your credit card bills
It is that time of the year that you use your credit cards to buy holiday gifts and next month you receive your bill from each credit card company. With limited budget, it is obvious that we don’t have enough money to pay off all credit card balances and we have to pick which to…
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Is Your Company Considered As A High Risk Merchant Account?
This article submit by How Merchant Accounts Work. Based on the type of industry that your company operates in, it is possible that you could be considered to be a higher risk in the eyes of banks than other businesses in different industries. Knowing where you fall in terms of the eyes of banks in…