We’ve partnered up with WooPOS to be able to offer our omnichannel merchants a POS system with integrated payments that can manage their inventory in real time between their retail store and their e-commerce store when using the WooCommerce shopping cart. This value add service aligns with our goal to make our clients’ lives easier…
Big Tech and their lobbyists came out guns blazing to contest the constitutionality of Maryland’s first-in-the-nation Digital Ad Tax. The US Chamber of Commerce and the Internet Association were among those who filed suit against the Old Line State. This tax would be levied against digital ad providers who make more than $100M a year…
The super smart folks in the Maryland legislature who know more than the rest of us *sarcasm detected* are at it again! Somehow, they think that imposing a 10% tax on Facebook and Google for the digital ads they sell in Maryland is a good idea. We’re literally going through a pandemic and small businesses…
The United States Postal Service is causing many merchants to get chargebacks from their customers due to their inability to do their job and deliver packages in a timely manner with accurate tracking information. When a consumer purchases something from a business, they expect the item to be shipped and delivered in a timely fashion….
With COVID-19 and government regulations wreaking havoc on the small business community across the country, it’s incredibly important for small businesses to stick together. Everywhere I turn, I hear business owners talking about the importance of shopping locally. Why buy from Amazon when you can support a local business, right? Well, why use Square for…
Maryland’s House Bill 777 was signed into law on April 30, 2019 and took effect October 1, 2019. Jaron Rice, Founder & CEO of Magothy Payments, authored this bill to help protect Maryland small businesses from the predators in the payment processing industry. In times past, big banks and merchant services providers could lock small…
In this video we offered some clarification on statements made in the previous video regarding interchange pricing and downgrades when a transaction fails the AVS. If the account is structured as a MOTO (mail order telephone order) or e-commerce account, you will not get an interchange downgrade if the billing address is wrong. However, you…
How is your processing account setup? That’s an important question. If you’re a card-not-present business – meaning you’re rarely in front of your customer running their card through a terminal, but keying in their information instead – you could be paying additional fees if your account is setup as a retail account as opposed to…
Here are 3 helpful tips to prevent financial losses because of chargebacks: 1. Document everything. Literally everything, including exclusions. 2. Keep good records, and have them readily available. 3. If you do issue a full or partial refund to resolve the chargeback, be sure to issue it digitally on the card you originally charged. DO…
The Better Business Bureau of Greater Maryland is doing a Black-Owned Business Spotlight to bring awareness to accredited, black-owned businesses in the Greater Maryland area. Our Founder & CEO, Jaron Rice, did an interview with them to talk more about our company, our beliefs, and the keys to our success. Magothy Payments is Maryland’s highest-rated…