Category: Credit Cards

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.

If you’ve just opened a small business and expect to process lots of smaller cashless transactions, you might have heard somewhere that flat rate credit card processing is the way to go. To put it simply, it’s a pricing model wherein your chosen processor typically charges a fixed rate (in the range of 2.75% – 2.9%) for each transaction you process.

If you’re a merchant who accepts payments with cards, odds are you’ve asked yourself: “What is a good effective rate for credit card processing?” To be able to answer this question, we have to take a closer look at what these rates are, what they include, and how they’re calculated. If the percentage seems too high, there might be ways in which you can lower it. Let’s take a look.

With the number of payments via credit cards growing by the minute, merchants should acquaint themselves with the potential risks associated with accepting such payment methods. One of those risks stems from the card not present transaction (CNP). Though completely legitimate by itself, it can land you in financial trouble if misused. Stay with us to learn the basics of CNP and improve and protect your business.

In today’s world of business, cashless transactions are a prevailing trend. But to accommodate them, you have to endure a whole plethora of fees: the processing fees for your merchant account, brands, and service providers. One way to take at least a part of the burden off your shoulders is to introduce a credit card convenience fee to your customers.

If you want to stay relevant on the market today, no matter what types of services or products you offer, you would have to introduce cashless payment options to your business. However, you should be familiar with the average credit card processing fees to be able to optimize your monthly expenses and set your business on a path to success.

Credit card factoring is a business practice in which a merchant account is used for transactions not related to the purpose for which it was set up and approved. If you are allowing another company to process their transactions via your account, you’re engaged in factoring. In most cases, it is an illegal activity that can put your business in peril and give you a lot more trouble than it’s worth.

Whether you are just starting or you already have a few years of work experience behind you, it is not easy to find the best credit card processing for a small business. Are you lost among the vast number of online reviews and recommendations that are confusing and do not seem genuine? You do not know how to find the right merchant service that will benefit both you and your clients? Do not worry – we are here to help.