Everything You Need to Know About Interchange

As a business owner, accepting credit cards is crucial to your organization’s success. And if you accept credit cards, interchange is a relevant topic to understand. It affects your merchant account fees and in turn your margins. Yet many business owners don’t know the meaning behind this credit card processing term. It’s a common belief […]

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Why Did PayPal Close My Account?

You just finished a new website, fine-tuned your business strategy, and stocked up on consumer-ready inventory. Your business is ready to begin accepting payments online. PayPal seems like a good choice to accept credit cards on your website. After all, it’s a large, well-known payments service you may already have used for peer-to-peer payments.   […]

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1099-K: History and Hints

Section 6050W of the IRS tax code came with the Housing Assistance Act of 2008 (although it’s completely unrelated to housing) and introduced us to the 1099-K. Known as the “Merchant Card and Third Party Network Payments” form, the 1099-K is an IRS effort to increase tax compliance and decrease the “tax gap,” or the difference […]

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