Posts by Guest Contributor
What is a High-Risk Merchant Account, and Do I Need One?
A high-risk merchant account is a merchant account that allows businesses designated as ‘high-risk’ to accept payment for goods and services by credit or debit card. Merchant account service providers might attach certain terms and conditions to the account to protect themselves in the event of something untoward happening, but that would depend on the…
Read MoreEMV Chip Cards: A Guide for Small Businesses
EMV chipped credit or debit cards offer advanced security and protection from fraud. EMV (an acronym for EuroPay, MasterCard and Visa) refers to a technical standard for microchips used in credit and debit cards, as well as the devices used to read them. Credit card companies developed this global standard to regulate and increase the…
Read MoreThe Difference Between a Virtual Terminal and a Payment Gateway
The payment processing system behind a virtual terminal and a payment gateway both permit merchants to accept credit cards over the Internet. In both cases, the customer card information is passed from either the virtual terminal or the payment gateway in an encrypted format through a complicated network to ultimately reach the customer’s issuing bank…
Read MoreDo You Really Need a Merchant Account?
If you sell any product or service and if you want your business to flourish, a merchant account is practically mandatory. But what exactly is a merchant account? It is a type of banking account that allows businesses to accept predominantly debit and credit card payments. A merchant account opened is under an agreement between…
Read MoreHow to Accept Credit Cards Online, In-Store or Anywhere
More than 50 percent of small businesses in the U.S. don’t accept credit cards, despite credit card payments being standard practice these days. One reason why is that accepting credit cards might seem daunting, confusing or costly to merchants. But equipping your business with the facilities to accept credit card payments is not complicated. And…
Read MoreACH vs. eChecks: What’s the Difference?
The terms ACH and eChecks are used synonymously, and there is only a minor difference between the two. To better understand this difference, consider the definitions of each term. What are eChecks and ACH? ACH, or Automatic Clearing House, is the process of the electronic moving of funds between bank accounts. It is a type…
Read MoreWhat is an ACH Payment?
An Automated Clearing House or ACH is an electronic network for financial transactions that process large volumes of credit and debit transactions in batches, including direct deposits, payroll payments, insurance premiums, mortgage loans, and point of sale check conversion transactions. Effectively an ACH is a computer-based clearing facility between depository institutions. Previously ACH transactions were…
Read MoreThe Top Online Payment Security Measures
As e-commerce continues to take a more prominent stand in the global market, even small businesses are turning to the online platform to expand their reach and grow their profits. There are so many benefits for businesses of all sizes to offer online shopping experiences. However, online payment facilities raise new security issues that merchants…
Read MoreHow to Prevent Online Fraud
We’ve all been warned about con artists, and most of us probably think we’re too smart to fall for their scams. However, being lured is easier than you’d think. Remember, these are professional liars who are skilled at gaining your trust and using that trust to steal from you. Unfortunately, the online con artist is…
Read MoreWhat is the Difference between a Chargeback and a Refund?
The difference between a chargeback and a refund might be blurred, but it is important for merchants to understand. Practically all merchants want to avoid both chargebacks and refunds, since they both translate into the same thing: loss of money. However, knowing more about their differences will show that granting a refund is far more…
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