Avoiding Settlement Delays

Typical batch settling (aka “deposits”) will occur within one (1) business day of the settlement of a batch.  From time to time, however, the deposit may be delayed; that delay can last anywhere from one day to multiple days, depending on the circumstances giving rise to the delay.  What causes such a delay of deposit and why? In this article, […]

Understanding Chargebacks

As much as any business welcomes a sale, a sale made using a credit card is not without an element of risk to the business. When a sale goes bad, the credit card companies – often at the prompting of the paying customer – may reverse the charge; i.e. they will charge back to the merchant the amount of the[…..]

The Pros and Cons of Shopify Payments

eCommerce, or the ability to sell a product or service to a consumer on-line, is here to stay. ECommerce is not the way of the future – it is, instead, very much a part of the present reality of selling products and will only grow. One of the solutions that many businesses turn to is Shopify, in order facilitate their[…..]

Understanding a Merchant Statement

Have you ever looked at your merchant statement and thought to yourself, “Well, this is as clear as mud.” Ever wondered, “What are all these charges? What do they even mean? How much am I paying???” If so, keep reading. In this article, we’ll identify and explain the major components of a merchant statement and examine how to calculate the[…..]

10 Facts About Canadians and Their Spending Habits

Canadians spend over $300,000,000,000 on their credit cards every year! More than the Chinese & Russian defence budgets combined! The average Canadian who has a credit card balance owes around $8,600! That’s 5 times more than the per capita GDP of India! The average spend per active credit card account is $9,700. That’s more than the average annual Chinese salary! Canadians charge-off about[…..]

Canadians racked up $100 billion in credit card debt for first time ever and they’re not done adding to it

Canadians will likely see a slight increase in debt and delinquencies next year, particularly in Western provinces hit by downturns in the oil and farming industries, according to a new report by a consumer credit reporting agency. The average Canadian’s non-mortgage debt may increase by 1 per cent to $31,531 by the end of 2020, New York Stock Exchange-listed TransUnion[…..]

Is the cheque disappearing any time soon?

How Canadians interact with money – both physical and digital – is changing as financial technology evolves. The options available to Canadians to make payments have never been more plentiful: from cash, credit cards, Interac and e-mail transfers, to a growing number of mobile payment apps. And yet last year, 875 million payments in this country were made via cheque,[…..]

50% of Canadians face insolvency amid ‘debt hopelessness’: Survey

Half of Canadians are on the verge of insolvency, according to a survey on household debt levels in this country. The latest MNP Consumer Debt Index published Monday shows 50 per cent of respondents said they’re within $200 of not being able to cover their monthly bills, and nearly an equal proportion of participants in the survey (49 per cent)[…..]