When it comes to credit card processing, some types of merchants need a specific processor service. This is called a high-risk merchant account. These are accounts that banks consider a high-risk type, like the ones that are prone to chargebacks or the ones that involve selling restricted products. What other businesses fall under this category, and does your enterprise need such a merchant service? Let’s find out.
No one can deny that the world of commerce is rapidly changing. Though there are still those that are holding on to paying with cash, more and more consumers opt to make payments with a credit card. Among the services that make these transactions even more convenient for consumers, Apple Pay certainly stands out from the crowd. Here’s a quick introduction to the revolutionary service that can require nothing more than an iPhone, iPad, or iWatch.
Have you decided to start accepting Visa credit cards? Introducing cashless payment options can bring all kinds of benefits to merchants. However, before you begin accepting cards as a form of payment, you should be familiar with what you pay for this service. Among others, an acquirer processor fee will appear on your monthly statement. But would you even be able to spot it there? And what is it, to start with? We want to provide you with some answers.
Being a business owner comes with a wide range of challenges and important decisions to make. Now, you’ve come to the point where you need to choose the right payment gateway option for your business. But you don’t know how to make this choice. There are several solutions worth considering, but how are you supposed to know which one is the best for you if you’re not a payment processing expert? Don’t worry – we are here to help you out.
Did you know that there are more than 14.4 billion credit cards in the world and about 160 million consumers in the US with at least one? Apart from drawing new potential clients, applying for a merchant account will give your existing customers another way to pay for your services, thus giving your enterprise an edge over the competition. Figure out the fees, rates, and penalties, find a reliable processor, gather all the necessary information, and the application process will go smoothly.
In the days of ever-growing contactless payments, understanding the roles of the main players in the processing industry is ever more important for merchants. In the chain of different entities, the acquiring bank holds a crucial spot.
In this quick guide, we’d like to introduce you to the concept of an acquiring bank and its role in the process and help you tell it apart from issuing banks and processing companies.
Did you know that seven in ten Americans have at least one credit card? Contactless payment has become a crucial part of every small business. There are so many advantages that such payments bring, but there also come a few questions. For instance, how do credit card transaction fees work? Contactless payment seems particularly complex to those who’ve just started their business or who’ve just implemented this form of payment.
Have you opened a small business recently and want to provide your customers with as many payment methods as possible, including the option of paying with plastic? It’s a rational decision given the rise of cashless payments, but you still might be uncertain about how credit card processing works? Even though it might seem complex at first sight, the entire process can be broken into several steps and just a few key participants. Understanding every step is of paramount importance for a business owner.
It never hurts to know how much you can save.
