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Sean Franke addresses CalCPA on critical bankcard topics
Electronic Merchant Services (EMS) CEO Sean Franke a Certified Payments Professional (CPP) is scheduled to speak at CalCPA on interchange, new legislation, industry lawsuits and compliance mandates.
IE La Verne DG: Credit Card Processing - D3031112
Date: November 13, 2012
Event Start time: 11:30 AM End time: 1:00 PM
Location: Inland Empire
Facility: Brethren Hillcrest Homes
CPE Credit:1.00 CPE (Continuing Professional Education)
INTERCHANGE THE HIDDEN BANKCARD TAX. Typically 80% or more of a business’s merchant services cost is Interchange, a fee paid to customers card issuing banks. Less than 20% of merchant credit card costs are processor fees for providing processor services. So why do cost savings comparisons only focus on the smaller portion, processor costs not interchange?
VISA AND MASTERCARD UNDER ATTACK WITH LEGISLATION AND LAWSUITS. The Durbin Amendment has regulated some interchange but does it benefit the business owner? Also, some long held rules have fallen. You will learn what businesses can now impose on card transactions.
IGNORING COMPLIANCE MANDATES CAN END A BUSINESS. Data security breaches occur most frequently in small business. A merchant can avoid costly data compromises. When data breaches occur at a small business it often costs them tens of thousands of dollars. Fines and penalties over $100,000 are not unusual. PCI compliance is often ignored and at best misunderstood. What is PCI compliance? How does a business get their annual PCI compliance certificate?
· Learn about interchange;
· Gain knowledge about Visa and MasterCard under attack with legislation and lawsuits.
· Understand how ignoring compliance mandates can end a business.