The Illinois Interchange Fee Prohibition Act, set to take effect in July, could create significant market disruptions, including more complex transactions and reduced card rewards for consumers. Eric Cohen of Merchant Advocate highlights the challenges merchants face, from increased transaction errors to higher compliance costs, arguing that such laws need a national approach to avoid widespread complications.
Read more about the potential impact of this legislation here.
The Credit Card Competition Act faces slim chances of passing in the current congressional session, with key lawmakers signaling a lack of support. Our CEO was interviewed by Digital Transactions to discuss the bill’s challenges, its potential impact on swipe fees, and why its future remains uncertain under a deregulation-focused administration.
Read more about Eric’s take on the CCCA its potential impact here.
The U.S. Justice Department is suing Visa, alleging antitrust violations that could reshape the debit card industry. In this episode, our CEO, Eric Cohen, explores Visa’s powerful role in the market, the stakes of this lawsuit, and what it could mean for businesses and consumers alike.
Tune in to understand the potential impact of this high-profile case here.
Credit card processing fees present a significant challenge for medical practices, often hidden beneath layers of complex charges. Merchant Advocate’s team specializes in helping practices uncover these hidden costs and maximize savings—all without requiring a processor switch. Discover how we can streamline your credit card processing and reduce expenses here.
As software companies increasingly integrate payment processing into their platforms, businesses may unknowingly face hidden fees. Exclusive processor relationships and outdated software can drive up expenses.
Read more about managing software integration costs here.
Surcharging is a hot topic for restaurants navigating razor-thin margins and rising card payment costs. While some businesses pass these fees to customers, others consider cash discounts. Understanding the pros, cons, and regulations of each approach is vital to making the right choice for your establishment.
Read more about surcharging and saving on processing fees here.
PCI DSS version 4.0 introduces key updates that dental practices must adopt by March 2025 to stay compliant and secure patient payment data. With the deadline approaching, understanding and implementing these changes is crucial to avoid breaches and penalties.
Read more about PCI DSS version 4.0 here.
Illinois’s new Interchange Fee Prohibition Act requires merchants to separate taxes and tips on card transactions, posing challenges for businesses. Compliance by the July 2025 deadline could require costly upgrades and training, making preparation crucial. Our own Eric Cohen spoke to Digital Transactions about why compliance could be difficult and expensive.
Learn more about how merchants can navigate the implications of this law here.
Veterinary practices are facing new challenges as states continue to introduce laws limiting credit card surcharges. These regulations aim to protect consumers, but they also put pressure on businesses to remain transparent while managing rising operational costs. Veterinary practices must navigate these changes by disclosing surcharges clearly and complying with state rules. Read more about how veterinary practices can navigate these new laws here.
In this article for Medical Economics, our CEO answers common questions from medical practices, including why it is important to optimize your processing costs, what you should expect to pay in fees, and issues surrounding surcharging and PCI/HIPAA compliance.