Does the Sales Volume my Business Processes Play a Role in the Type of Merchant Account I Get?
Yes and no. Although merchant card service providers offer different terms and conditions, on approval of a new merchant account most accounts will have a set processing limit that will be based on information provided by you on application. The terms and conditions of the merchant account will be standard. The limit may be conservative…
Read MoreWhat Equipment do I Need to Open a Merchant Account?
Opening a merchant card service account has little to do with what equipment you have initially, and more to do with what type of business you run, your customer base and your market risk standing. As with any long-term service, you will complete an application form that will include certain relevant information and will be…
Read MoreWhat Software and Payment Acceptance Options will I need for my Small Online Business?
It is vital that you accept credit card payments for purchases made via your online business if you want it to be successful. Online businesses cannot survive if they don’t accept card payments because the whole concept of selling online offers buyers armchair shopping whenever it suits them. This convenience includes card payments for immediate…
Read MoreWhat are Chargeback Fees?
One of the most stressful aspects of accepting card payments is getting a chargeback. This is the technical term for a payment reversal that was not initiated by the merchant. It happens when a customer has paid using a credit or debit card, but for any of a variety of reasons, the bank ‘reverses’ the…
Read MoreWhat Credit Card Brands Should I Accept for my Online Business?
As an online business owner you do not have any choice of which credit card brands that your potential customers have, which they will make payment with for online purchases. If a customer attempts to pay with a credit card that is not recognized or accepted by your merchant card services provider, the transaction will…
Read MoreWhat do I Need to Know Before Opening a Merchant Account?
Modern business has a slightly different approach than its traditional cousin. The guiding principle remains constant: you sell goods and services, preferably for profit. But the mode of payment has shifted a little. In addition to cash and kind, consumers can now pay using checks, credit cards, and debit cards. And cards need more processing…
Read MoreWhat do I Need to Know About PCI Compliance?
PCI stands for Payment Card Industry. The full term is Payment Card Industry Data Security Standard (PCI DSS) but most people know it as just PCI. PCI is a monitoring system that was developed by five of the biggest card companies in the world. It was created to protect businesses and consumers from card fraud…
Read MoreMoving Your Small Business to a Fully-Integrated Point-of-Sale System
Does Your Small Business Need to Move to a Fully-Integrated Point-of-Sale System, and How Do You Begin? Many business owners prefer to start small and scale gradually. It reduces the amount of capital they need to begin, and it buffers them against unmanageable losses. However, just because you’re running a small business doesn’t mean you…
Read MoreWhat is the Best Point-of-Sale System for Road Shows?
Point-of-Sale or “POS” is the place where the actual purchase transaction takes place. In yester-year goods sold at road-shows were transacted mainly in cash and occasionally by check. If you are still transacting that way your road-show days are probably numbered, because, at the rate things are changing, you might be lucky to make enough…
Read MoreWhat is Point-to-Point Data Field Encryption and How Does it Help You?
Point-to-point encryption (P2PE) is a standard established by the Payment Card Industry (PCI) Security Standards Council that must be adhered to by merchant account service providers. P2PE instantly encrypts sensitive credit card data and information into indecipherable code as it is swiped to prevent fraud. It is a security solution designed to maximize card payment…
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