Breeze Airways™’s Post

#PAYMENTS101 Have you ever wondered about the backstage players in the credit cards Industry? Well, let's understand. Open Network Imagine an open stage where various financial institutions join the act. In the spotlight, we have: Visa, Mastercard Now, let's switch the scene: Closed Network Here, it's an exclusive club, with credit card companies taking center stage. They don't just issue the cards; they handle the show as acquirers too. Meet the headliners: American Express, Discover And even some store-issued cards Understanding these networks can make all the difference, whether you're a business or a consumer. So, don't just swipe and forget. Have any questions or want more insights? Ask below!

Did you know that Visa and Mastercard are not only responsible for setting credit card processing rates, but they're also part of the reason your fees increase every year? For the first time ever, congress is working to increase competition in the payment processing market by requiring banks to process credit transactions on at least one non Visa/Mastercard network. What does this mean for business owners? Advocates believe this bill could save consumers money and break up the duopoly held by the two processors. What do you think?

Did you know that Visa and Mastercard are not only responsible for setting credit card processing rates, but they're also part of the reason your fees increase every year? For the first time ever, congress is working to increase competition in the payment processing market by requiring banks to process credit transactions on at least one non Visa/Mastercard network. What does this mean for business owners? Advocates believe this bill could save consumers money and break up the duopoly held by the two processors. What do you think?

Observing the rapidly growing mass action space in the UK market, this recent piece from Reuters highlights the challenges Visa and Mastercard are facing over fee disputes. It's a telling indicator of the evolving legal landscape and the power of collective action. A must-read for those in the financial and legal sectors. #UKMassAction #VisaMastercard #FeeDisputes #LegalTrends #FinancialInsights https://lnkd.in/g2N9qzX7

Observing the rapidly growing mass action space in the UK market, this recent piece from Reuters highlights the challenges Visa and Mastercard are facing over fee disputes. It's a telling indicator of the evolving legal landscape and the power of collective action. A must-read for those in the financial and legal sectors. #UKMassAction #VisaMastercard #FeeDisputes #LegalTrends #FinancialInsights https://lnkd.in/etP-8D_G

The recent interchange fee caps introduced in the Visa/Mastercard settlement may seem like a win for businesses at first glance, but their impact on your business's bottom line could be minimal. That's where PE Systems comes in. We delve deep into your payment processing fees, uncovering areas where you might be overpaying and offering strategies to enhance your profitability. Understanding the nuances of your fees is crucial, and we're here to provide clarity and solutions. Don't settle for modest savings; let's maximize your financial efficiency together. #InterchangeFees #CostSavings #VISA #mastercard

My sister and I were in Austin, TX this past week for our company’s annual summit.  It was so wonderful to connect with others in the business! We spent the summit brainstorming new ideas, discussing pain points and ways to improve them as well as thinking about opportunities to help enhance the credit card processing industry. One of my biggest takeaways from the summit was how much more strict surcharging and cash discounting compliance has become.  Visa is aggressively fining merchants for inappropriately charging customers for their Visa and Mastercard fees.  For the first offense, if there is no receipt, there is a $1,000 fine; however, if there is evidence including a picture and receipt, then the fine increases to $5,000.  The fines increase exponentially from there - the second offense increases to $10,000 and the third offense is $25,000. In addition to ensuring that our programs are compliant, we are strongly focused on helping new merchants remain safe and compliant.  

"Just came across Sankey diagrams illustrating the income statements of Visa and Mastercard for Q1 FY24 and Q4 FY23, respectively. The visual representation of revenue streams and expenses is incredibly insightful. #Visa #Mastercard #SankeyDiagram #FinancialAnalysis"

Are Visa and Mastercard fees going up? Check out oXYGen CEO and Co-Founder, Ted Jenkin on Scripps News talk about what consumers should expect from these rising costs and how to prepare! #visa #mastercard #creditcardfees #financialtips #income #oXYGenFinancial

Are Visa and Mastercard fees going up? Check out oXYGen CEO and Co-Founder, Ted Jenkin on Scripps News talk about what consumers should expect from these rising costs and how to prepare! #visa #mastercard #creditcardfees #financialtips #income #oXYGenFinancial