Blog Post

Why Consumers Prefer Credit Cards

Thanks to the convenience and popularity of e-commerce, credit card usage is on the rise. Data released by the Federal Reserve in 2014 found that 72% of all American consumers have at least one credit card. That means approximately 167 million Americans own a credit card. These statistics show that if merchants want to compete in today’s tough economy, they need to make credit card processing an integral part of their business. Read on to learn some of the top reasons why consumers prefer using credit cards over cash.


The most common reason that consumers prefer credit cards over any other payment option is convenience. Whipping out a credit card is easier than paying with a check, safer than using a debit card, and much more convenient than running to the ATM because you are out of cash. Many consumers also use monthly credit card statements to track their spending and budget future expenses.


Who doesn’t love getting free stuff? With so many credit cards to choose from, many credit cards offer rewards and incentives to choose their card over competitors. Rewards including low interest, balance transfers, airline miles, hotel stays, points towards merchandise, and cash back are some of the most powerful incentives for consumers to use their credit cards. Although some rewards cards charge an annual fee, most credit card holders love the idea of getting paid to shop.

Protective Services

Credit cards offer consumers various forms of protection that aren’t available when paying with cash or any other payment option. The following are just some of the protective services that credit cards offer to consumers:

• Price protection: This service allows cardholders to recoup savings from the credit card company if a lower advertised price is found within 60 days of purchase.
• Extended return policies: This service can turn a 30-day return policy into a 90-day policy if the store won’t accept the return.
• Damage and theft protection: This service insures items against accidental damage or theft within the first 90 days after purchase.
• Extended warranties: This service can double the manufacturer’s warranty protection.
• Identity theft protection: This service alerts cardholders of suspicious purchase activity and can cover the cost of identity recovery services in the event of identity theft.

Merchant Benefits

With all their incentives and protections, it’s no wonder that credit cards are so popular with consumers. Likewise, accepting plastic can only help merchants widen their revenue stream, make more sales, and reach a healthier bottom line. Learn more about opening a merchant account with Vision Payments today!

How to become a partner with Vision Payments

You’ve built your business around your ability to help and serve your customers. Taking their payments shouldn’t be the exception. For that reason, Vision Payments has spent the last 12 years perfecting our merchant service offerings. We pride ourselves in our ability to provide different types of electronic payment services in various types of industries. From small retail storefronts, national chains, and ecommerce solutions, we have a program that will fit your needs.

About Vision Payments

Our company is constantly evolving to ensure that our software is cutting edge. As new payment technology becomes available, our systems allow you to adapt it to your business. We strive to solve any issues that can occur with electronic check conversions, card swipes, and other payment methods. Plus, our electronic funds transfers expedite the settling of your merchant credit card accounts with your financial institutions, making it a simple and effective system to use.

Why Choose Vision Payments

We understand the difficulty that can come with switching software and platforms. For that reason, we have designed our programs to come complete with support groups and readily available customer service. This makes it easy for you and your team to get acquainted with your new system. Don’t let your merchant payment solutions hold you back from reaching your potential. Make the switch to Vision Payments and let us help your business grow.

How to Apply

Becoming a partner with Vision Payments payment solutions has never been easier. In fact, it requires very little effort on your part. To apply, simply visit and click the “apply now” button at the bottom of the page. Fill out your basic contact information when prompted and hit submit. It’s that easy! One of our friendly team members will contact you to finish the application.

Partner Benefits

As a partner, you are privy to same-day approvals, 24/7 customer service, merchant funds, and a variety of reporting tools and reports. Plus, with lifetime vested residuals and true revenue sharing, this is one merchant payment service that truly gives back to your company.
If you have questions at any time during the application process, our dedicated customer service team is standing by to assist you. Simply call (877) 674-2286. With all of the hard work you’ve put into your business, you shouldn’t expect anything less than the best out of your payment solutions. Don’t settle for inferior service. Partner with Vision Payments and watch your company evolve.

Merchants being affected by EMV chargebacks

Customers are showing up to store checkout counters, in some cases, not even realizing that their new credit cards contain something called a “chip” in them. These “EMV” chips present more than just a surprise discovery for customers, they present a challenge for merchants as well. Merchants are faced with the need to come up with credit card payment solutions that allow them to stay up with technological advances that impact the retail world.

EMV stands for Europay/MasterCard/Visa and is the result of a joint venture that created an alternate technology to the credit card magnetic stripe–a “chip” that makes a credit card a “smart card.” The purpose of the EMV chip credit card is to reduce fraud from lost, stolen or counterfeit cards.

Companies like Vision Payments can offer merchant payment solutions that help them successfully grow their businesses by helping them keep up with the modern world’s rapidly-moving technology. One particular challenge merchants have to deal with is EMV chargebacks. The following explains 3 significant problems associated with chargebacks and how to most successfully deal with them.

First, Upgrade to Chip Technology

The best way to avoid dealing with the frustrations that chargebacks bring is to advance business payment solutions to include the ability to accept payment with credit cards that contain the EMV chip. With less chance of fraud and other problems that are reduced because of chip technology, chargebacks will occur less frequently. This also means that fewer sales will be lost.

Next, Act Promptly

Chargebacks, as well as retrievals (customer request for information about an unidentified charge) will require a merchant to respond immediately. It’s important to know how the processors will be contacting you as well as you needing to be aware of the individual card brand timelines for dealing with chargebacks in a timely manner to avoid unwanted fees and penalties. This will also help to prevent the bank from automatically processing the chargeback and risking the loss of a sale.

Customer Communication as Prevention

In the end, banks will make the final decisions on chargebacks, but knowing that processors will go to bat for merchants to prevent chargebacks helps. One way to prevent the need for a chargeback in the first place is to communicate store policies clearly to customers by posting return/refund rules online or with signs near checkout counters and other strategic locations. Chargebacks should be a last resort and can be avoided with clear and concise communication with customers.

Accepting credit cards to grow your small business

When you’re managing a small business, of course cash is a preferred method to receive your payments. After all, it’s simple for the owner to accept, and all the owner has to do is count the cash to complete the transaction without dealing with any kind of third party in the process. But the reality is, in 2016, the world is becoming increasingly dependent on credit cards rather than cash. Credit cards might not be as simple for the seller, but for the buyer, plastic tends to be king because of the convenience factor. If you want to expand your business, accepting credit cards can be a great way to bring in new customers.

In a world where some merchants do not even accept cash, many younger Americans have grown up depending on their cards to make their purchases. As a result, many of them only carry cash in specific situations, and some only do so after a visit to the ATM. When a business chooses not to accept credit cards, it turns off a large segment of its potential market. Millennials will often choose to simply take their business to the next store rather than have to plan ahead if the business in question only accepts cash. For a small business, ignoring a large market can be a devastating decision. These buyers have become a crucial market, and their purchasing decisions are only going to become more important as they enter their higher-earning years of employment. Getting these buyers interested in your product now is vital to expanding your business.

Even in situations when most people have cash, such as a mobile booth at an event, it’s a great idea to offer customers additional payment options beyond cash. Although older generations aren’t as averse to carrying cash as millennials, most people of any age do not feel comfortable carrying large amounts of cash on them in case disaster strikes. In that situation, people give themselves an unofficial spending limit by the amount of cash they have on them, and once they’ve hit that limit, they’re done spending money for the day. As a merchant, however, you can work around that by offering credit card transactions. If you have a way for customers to pay by card when your competitors are only accepting cash, you’ll be the one reaping the benefits of buyers choosing convenience. A buyer with a strict amount of cash is far more likely to break his or her budget to purchase an item of yours he or she really likes if it won’t restrict him or her from enjoying the rest of the day.

By building loyalty early and showing innovation through multiple forms of payments, small businesses can open a door for expansion. Accepting credit card payments is a great way to make those connections early so that you can quickly set your business up for long-term success.

Overcoming payment concerns for merchants

In the modern era, people are buying and selling goods with credit and debit cards with increasing frequency, and the rise in ecommerce has created a whole new set of digital challenges. If you are a merchant who embraces the cashless society, here are some of the concerns you might have and how you can overcome them with easy card payment solutions.


Your customers want to know their credit card data is safe when they shop with you. Leaks can happen anywhere, but you can reduce your risk by getting Payment Card Industry Data Security Standards (PCI DSS) certification and adhering to safety protocols. This certification tests your security in several areas such as how regularly you monitor and test your network. You should get this certification whether your business is online or all bricks and mortar retail.


People sometimes fall victim to fraud. This is an undeniable fact and a part of the credit card industry. However, if a customer claims to have an incorrect charge on a credit card statement, he may demand a chargeback, at which time he essentially gets his money back. This can hurt your business reputation, and it can cost time and money to clear up so that you don’t have your credit card merchant accounts closed. The best way to help your business is to take some steps to reduce the likelihood that the customer will resort to this. To help prevent fraud, always check a credit card’s expiration date and the cardholder’s signature. To help you prevent irate customers from demanding chargebacks for goods they did receive, keep your products and terms of service clear, and try to simplify your refund policy.

Currency Exchange

If you anticipate a lot of foreign business, especially if you are near a national border, you may need to accommodate different currencies. Since you probably won’t want to bother with new bank accounts and the rest of the hassle that goes with it, your best course of action will be to pick a payment service provider that is already set up to deal with international payments. Find one that can deal in multiple currencies. Be prepared to take in payments or even to pay others in foreign currencies on occasion. There are many merchant accounts to choose from, and a bit of research into prospective companies can tell you whether they specialize in domestic or international business and what they are equipped to handle.

Current Issues with Europay, Mastercard, Visa (EMV)

With several breaches in credit card security, like the infamous incident with Target, credit card companies and payment processors have stepped up their security with EMV chip readers. EMV, which stands for Europay, Mastercard, and Visa, stores data on integrated chips. These chips create a unique transaction code that cannot be replicated, whereas transactions from the magnetic stripe could be easily replicated through copying. The data on the magnetic stripe doesn’t change, which makes copying and replication easy.

Consumer support has been strong, and the increase in security is undoubtedly a success. Although, while EMV is innovative and more secure than magnetic stripes, it isn’t without flaws and issues.

October 1st of 2015 brought a liability shift for all merchants. Essentially, any companies that did not make the switch to EMV-compatible payment methods are now held liable for any breaches in security. Many small businesses are finding the transition and implementation difficult and expensive, which reduces their credit card transaction security, and makes them liable under the new EMV sanctions.

EMV transactions are driving more chargebacks than expected—this is especially prevalent in smaller businesses who have not integrated the EMV technology. Chargebacks are a result of a disputed charge, be it through fraud, processing errors, etc. With the new liability laws, merchants are now responsible for all chargebacks, and the number of chargebacks is increasing.

Customers and merchants are also noticing the longer length of verification is holding up lines, and slowing down operations ever so slightly. The average EMV transaction can go anywhere from 5 seconds to 20 seconds, but this time can be detrimental when added up. While the machine needs the time to process each transaction securely, our culture of convenience and speed can be reactive to longer waits and more steps.

The EMV card chips cannot be used in online transactions (card-not-present transactions), which may contribute to a rise in online fraud and theft, and possibly drive consumers away from online purchasing.

The chip cards used in the United States are not chip-and-PIN cards, meaning that a pin number is not required as it is with a debit card transactions. This is a security hole that must be reconciled if EMV cards are to provide maximum security.

Vision Payment Solutions understands the importance of payment security and EMV integration. If you need merchant payment solutions and advocacy, contact the professionals at Vision Payment Solutions for more information. We are pleased to assist you!

Considerations for Financing your Equipment Purchases

Certain pieces of equipment can accelerate your business operations and streamline your production or services. However, there’s no need to drain a significant amount of money from your business for your next equipment purchase. You should be able to acquire the pieces of equipment you need without the heavy upfront cost. Consider financing your equipment and pay smaller chunks of money over a certain amount of time.

Cost/Benefit Analysis

Before financing your equipment, you must consider the cost vs. the benefits. How will this piece of equipment benefit your company? What purpose will it serve? Is it something you can do without if you do a little planning and coordinating? If you find that the benefits outweigh the cost, equipment financing is right for you.

Financing Terms and Costs

Carefully read through any financing terms and carefully calculate the cost of your payments. Can your business afford the payments, or will they put unnecessary financial burden on you? Will you have to cut costs in other areas? Will your payments increase over time? How much principal will you pay vs. interest?
Does the Financing Company Care about your Bottom Line?

It’s no secret that companies do what they do for the money. However, this doesn’t mean that there aren’t companies who truly care for their clients and want to advocate for their success. It’s important to understand the mission of your financing company, and how they intend to help you succeed vs. how they intend to help themselves succeed. Do a little exploring to find your perfect fit, and don’t be afraid to look up potential companies’ past customers to find out more about their individual relationships with their clients.

Benefits of Choosing to Finance

If you decide that financing is the right decision for your company, there are several benefits. First, you can strengthen your financial position by slowly paying your financing costs over time rather than the expensive upfront cost. Financing allows you to reserve cash each month for smaller, more convenient payments, continue to grow your revenue, and further save for unexpected costs and emergencies. Many financing companies offer affordable and fair interest rates, and are willing to offer you deferment programs, as well as seasonal payment programs.

Use Vision Payment Solutions to finance your new equipment, accelerate your business, and better your operations. We offer instant financing up to $100,000, unparalleled client services, finance terms from 12-60 months, and the opportunity to upgrade your equipment with a simple, one-page document.

Contact Vision Payments to find out more about our financing services and apply for your Vision Payments merchant account!

Benefits of Merchant Capital Funding

With the current state of the economy and the heavy competition it fosters, small businesses are failing left and right. While this isn’t necessarily the fault of anyone, there are ways to avoid going under while still maintaining your bottom line and keeping your staff intact.

Merchant capital funding isn’t a standard bank loan—meaning that there usually isn’t an egregious set of standards you need to meet in order to qualify for the loan. They can be highly beneficial to your growing business, and they can be secured easily.

You can do what you need to do

Maybe your location is off-putting to customers, and it needs a renovation. Or, maybe it’s time to open a second location to reach more customers and generate more revenue. Securing merchant capital funding can:

  • Help you expand your products and services, which provides greater appeal to your customer base.
  • Upgrade your equipment and machinery, which will help improve your processes and avoid outdated equipment.
  • Launch advertising campaigns, run special promotions, or even just purchase inventory you’ve been desperately needing.

No matter what your business needs, merchant capital funding is the ideal solution.

Many funding companies offer advantages over others

Vision Payment Solutions has high approval rates, automatic collection, no application fee, and does not require personal collateral to back your loan.

Revenue-based collections

Merchant capital funding typically works on an income-type basis. Many companies will give you your loan in exchange for a percentage of your credit card sales until the amount loaned is paid off. This way, you are still generating income, you don’t have to plan out your loan payments, and nothing is paid in a lump sum. You can easily monitor your income, and avoid seeing a large loss with every payment.

High approval rates

Many small businesses don’t have the credit score and collateral to secure such a substantial bank loan. A standard bank has a series of standards that are generally unrealistic for small businesses, which prevent them from securing the capital they need. With merchant capital funding, you are exponentially more likely to be approved for your loan, and the approval is always accompanied by very reasonable terms and conditions.

Vision Payment Solutions is an ideal provider of merchant capital funding with the dedication to your success that you deserve. Contact us to learn more about our funding services, and apply for your merchant capital fund today!

What is Credit Card Interchange?

In a credit card transaction, there are more parties involved than just the customer and merchant. There is the credit card association (Visa, MasterCard, etc.), the financial institution from whom the customer received their card (card-issuing bank), the customer, the merchant, the merchant service providers, and the bank that the service provider represents. When a purchase takes place, the customer’s financial institution authorizes release of the funds. The funds are then transferred to the merchant’s bank account, minus the interchange fee.

An interchange fee is the “cost” of a credit card sale.

While this concept may seem a little confusing and vague, it’s quite simple. The interchange rate is determined by the credit card association—note that credit card associations that offer perks and incentives tend to have higher interchange rates, as those perks and incentives require a certain cost to operate. A typical interchange rate may look like this: 2.20%+$0.15. The first figure is a percentage of the sale, and the second number is a “per-sale” cost. Larger merchants can negotiate the cost of the credit card interchange if their volume of sales is higher, as well as their revenue per sale.

The interchange fee is typically divvied up between three different parties. A majority of the fee, known as a card association fee, goes to the card-issuing bank—about $1.75 of a $100 purchase. Nearly $0.10-$0.20 goes to the credit card association, and the remaining money goes to the merchant account provider.

So where do you fit in, and where does Vision Payments Solutions fit in?

As the merchant, you will be the recipient of a majority of the revenue. While the idea of these fees seems daunting, accepting credit cards is one of the most important ways to increase your profits, and appeal to a large customer base that relies on credit cards as their primary forms of payment. With millions of credit card owners and users, the best thing you can do is increase your customer reach, and accept the small fees as a part of processing credit cards.

Vision Payment Solutions will act as your merchant account processor, and oversee the credit card transactions and transferal of funds to your merchant bank account. We offer assistance in matters of merchant services, credit card payment processing, and merchant credit card processing. Visit to learn more about our payment solutions, and our merchant account processing services!

Avoiding Fraud Liability

It is estimated that nearly half of the fraudulent card payments in the world occur in the United States. More than ever before, there is immense pressure on merchants and businesses to up their security, and avoid being liable for fraud.

  1. If you haven’t switched to the Europay, Mastercard, and Visa (EMV) chip reader system, it’s time to do so. Any business who chooses to avoid making the switch is exponentially more likely to experience a security breach, and will be held accountable for not making the switch. Check with your payment processor to learn more about EMV chip readers, and set up your EMV POV terminals right away.
  2. Ensure that your staff is fully-trained on new technologies. After switching to the EMV chip readers, explain the technology and how to properly charge the card. Also ensure that you monitor your staff to watch for possible security risks, as a lot of security issues and fraud can come from within the business. Trust your employees, but do so with discretion. Open an anonymous system for your employees to report fraud or liabilities for fraud. Teach your employees to spot bad checks, counterfeit money, and fraudulent credit cards, and to keep themselves and customers in check.
  3. Create a system of checks and balances within your business. While it can seem efficient to assign all accounting and auditing tasks to one or two individuals, all internal and external auditing and accounting practices need to be divided evenly between a handful of people—this keeps your employees accountable, and makes it easier to identify the responsible party when a task hasn’t been performed properly, or there are signs of fraud. Your employees can also keep each other in check, and feel incentivized to report suspicions of fraud.
  4. If you accept payment through an online payment portal, gather all of the information related to the card. This includes the full name on the card, the number, the expiration date, and the CVV number on the back.
  5. Recognize certain signs of fraud—however, keep in mind that these signs don’t automatically validate an instance of fraud. Some of these signs include: the credit card is declined, billing and shipping ZIP codes don’t match, buyer places an order via email or phone, an unusually large order is requested in addition to same day/next day shipping, buyer asks to split order between multiple credit cards, and buyer includes special instructions that include paying a third-party vendor, person, or shipping company. Remember that there are often reasonable explanations for some of these actions, but they should always be approach warily.