Third-party debt collection is a multi-billion-dollar industry. In 2016 alone, the amount of debt collected has resulted in $67.6 billion return to creditors.* This segment of debt collection industry employs approximately 130,000 jobs with another 89,000 jobs created by the
Survival Using POS System
I remember a conversation I had with a colleague in early 2010. He was the CEO of a major and growing ISO. I told him my prediction is more mergers and acquisitions in the coming years as well as the
Merchant Services Fraud Alert Association
When I wrote my book, “Smart Business Guide to Credit Card Processing -An Exposé, What Every Merchant Should Know to Avoid Costly Pitfalls,” I wanted all business owners to learn from it. I wanted them all, as well as all
Inefficiency and Impact on Service
Causes of Inefficiency and Their Impact on Service The Merchant Processing industry suffers from a very high level of inefficiency that affects the quality of service provided to merchants by Independent Sales Organizations (ISOs) and their agents at the street
Increasing Annual Gain by $1,000,000!
Increasing Annual Gain by $1,000,000! I have been to a number of meetings with controllers, CFOs, and the owners of auto dealerships. They always and naturally think I will try to sell them on a check guarantee program beating another
How to Sell More Cars
The article below has been contributed by an experienced executive in check guarantee industry. It is a great article worth reading for businesses and consumers. Should You Lease or Buy a Car? In 2017 about one third of all new
Arrest of Two Fraudsters
Department of Justice indicted and arrested on Tuesday May 2, 2017 two executives, MICHAEL MENDLOWITZ, a/k/a “Moshe Mendlowitz,” and RICHARD D. HART, a/k/a “Rick Hart,” for defrauding 10,000 merchants through various schemes for a staggering amount of $30 million dollars over
EMV Update 1
EMV Update 1 Nearly 18 months after October 1, 2015 official implementation of EMV, a large percentage of merchants in the U.S. are still not using EMV-certified devices, the chip card readers. These merchants were using POS systems prior to
Visa and Routing to Debit Networks
Today’s article in DigitalTransactions.net (Visa Modifies Its Controversial EMV Debit Card Transaction-Routing Policies) is another eye opener about the power Visa wields in transaction processing. But Visa’s size and cash should not be used by Visa to impose wrong policies
Surcharging and Fraud
The New Battle: Surcharging Fraud I have witnessed a new type of fraud by unscrupulous salespeople, their ISOs, and a few leasing companies recently. This fraud stems from the abuse of rules on surcharging implemented by Visa and MasterCard in