Do 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…

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How 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…

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ACH 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…

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What 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…

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The 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…

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How 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…

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What 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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Why Credit Cards are Dropping the Signature Requirement

In a move applauded by most retailers, major card brands (Mastercard, Discover, American Express and Discover) will no longer require customers to sign for all of their card payment transactions as of the end of April 2018. At the same time, each card brand will be adding new rules and relaxing existing rules for merchants.…

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A Merchant Account That’s Right For Your Small Business

A merchant account is a kind of bank account that allows your business to accept credit or debit card payments. You must have a merchant account provider to open the account for you and provide the necessary services for maintaining your account. So the important decision is choosing a merchant account provider that’s right for…

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How Does Electronic Check Payment Processing Work?

When we say ‘electronic check’ (or e-check), a lot of people assume we’re referring to a soft copy check, meaning a paper check has been scanned or photographed and sent my email, text, or instant messaging. This isn’t necessarily true. An e-check actually has several differences. For one thing, a paper check is sent by…

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