You probably know that all merchants that accept Visa and MasterCard payments are required to become Payment Card Industry (PCI) compliant. The Payment Card Industry Security Standards Council is comprised of the major credit cards associations (Visa, MasterCard, American Express, Discover and JCB), and they have establisged a set of security standards to ensure that merchants follow best pratices in order to reduce credit card fraud and security breaches.

At Merchant Portal you will find access to your SAQ and more education on PCO compliance. Your login credentials will be included in the welcome letter which can be found in your Central Payment Merchant Welcome Kit.

It is your responsibility, as a merchant accepting credit and debot card payments, to safeguard customer card data. Merchants must uphold their PCI Compliant status at all times to avoid non-compliance fees and other potential replated charges and assessments.

DEFINITION OF 'NEXT-DAY FUNDS

Money that becomes available for use on the day following the day it is deposited.

Bank deposits must be cleared and settled before they become available. This involves transferring deposits and withdrawals between banks and ensuring that sufficient funds are available to complete the transactions.

What cards are eligible for Next Day Funding?

With this exclusive service all cards will be funded Next Day including Visa, MasterCard, Discover, American Express and electronic checks. No exceptions, no excuses.

The Durbin Amendment is a provision in the final bill of the Dodd-Frank Wall Street Reform and Consumer Protection Act, aimed at debit card interchange fees and increasing competition in payment processing.  The Durbin Amendment asked Congress to establish "reasonable and proportional" fees to the amount of interchange charged by issuing banks for debit transactions.

What cards are impacted?

The Durbin Amendment did not make a clear distinguishment between online and offline debit transactions. In other words, the federal regulation applies for both check card transactions as well as pin-based debit transaction acceptance.

Other terms of the amendment to be aware of:

Merchants are now able to set a minimum transaction amount ($10.00) for credit cards and offer discounts for payment by cash, check, debit, etc.  However, as a common mis-conception, merchants cannot apply a surcharge to transactions.

What will you use your funds for?

INVENTORY PURCHASES - Increase sales, revenue profits

ADVERTISING - Find customers for your goods & services

EXPANSION - Take advantage of market opportunities

RENOVATION - Entice new customers with a fresh look

NEW EQUIPMENT - Offer new products & services

TAXES - Take care of obligations and move on

PAYABLES - Eliminate interest by paying off debt

WORKING CAPITAL - Enhance your daily operations

EMERGENCIES - Keep money on hand for a rainy day.