This is the Beacon Payments blog. Learn about the credit card processing and the merchant services industry. Hear about the successes of our outside sales people whose job it is to sell merchant services and sell credit card processing programs.
mobile payments forecast to reach one trillion dollars by 2015!
Detailed answer to the question: How much can I surcharge a client for runnign a credit card sale in my business?
Genius is a customer facing device which integrates and aggregates all forms of payment into a single touch point. The purpose of the device is to give merchants the flexibility to accept any form of payment, including mobile wallets, as they become available. Through Genius our customers can accept bankcard transactions, NFC enabled mobile payments, QR code mobile payments, EMV transactions and they can even capture signatures electronically.
By 2017 it is projected that 86% of all merchants will be able to accept mobile wallet payments. Will you be one of them? Do you know how to accept mobile wallet payments?
As of yesterday business owners in most states will be allowed to pass the cost of credit card processing on to Visa and Mastercard users through surcharges of up to 4%. This raises a big question: will merchants actually charge this fee? Customers may be put off when they realize that they are paying more to use their card and may prefer to shop somewhere else. It will be interesting to see how this plays out over the coming months and if the fact that this is now allowed will actually change they way the merchant services industry and retailers run credit card transactions.