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.
If you own a small business, you’re probably used to questions about alternative payment methods to cash and the option of virtual shopping. Knowing about available eCommerce payment options will not just help you create a more convenient buying experience for your customers; it may evolve into something of a necessity in the coming years.
Each method and option has its perks, from Paypal to bank loans, and here we’ll try to introduce some of the most common ones.
You have reached the point in which you are satisfied with the results of your work and feel like that your current market may be somewhat saturated. It seems that it’s the right time to start thinking about expanding your business, whether into a new city or state or maybe even a brand new industry. Although it is a move that carries an inherent risk – know that the possible rewards are numerous.
It never hurts to know how much you can save.
