Merchant Accounts

Today almost 60% of US consumers prefer to use credit cards for their payments instead of cash, according to the Federal Reserve. However, despite this, around 55% of US small businesses do not accept credit cards. The question is why? Even though processing credit cards has a lot of obvious benefits, business owners can be…

Beginning with the introduction of the first credit card in 1950, shopping became more convenient and cash started to decline in popularity. Of course, in those early days, the credit card system was fairly rudimentary, but today, thanks to many technological advancements in finance, electrical engineering, and the digital space, credit cards have become ubiquitous.…

Cash is an increasingly less popular method of payment for many customers, and checks take a relatively long time to cash in, while coming with the added risk of bouncing. Credit and debit cards on the other hand are growing in popularity. For businesses, a merchant account becomes essential if they want to keep their…

If you want to get a merchant account service, you have several options at your disposal. It’s important to understand these options and what they mean, since not all merchant account services are created equal – some are better priced, some have more features, and some manage to provide both. In this article, we’re going…

First and foremost, opening a merchant account means that you are giving your customers what they want; multiple payment options! When you give your customers the additional options of paying by credit or debit card, your sales will grow by leaps and bounds. More and more customers are choosing cashless payments! As if an increase…

Let’s understand a merchant account first. Briefly, a merchant account is a facility provided by a bank for a merchant, you, to route money from credit card sales to your bank account. A sale is made, paid for by credit card, and the funds reserved for you. In-between the transaction follows many steps between your…

Starting a business is a brave move, but it’s growing your business that is the real task. Once the glitz and glamour of the launch have faded and the novelty is gone, you need to turn curious browsers into repeat customers. Sustaining and growing your business volume is a challenge. You need all the help…

Choosing the right merchant merchant service provider will be smooth sailing if you ask the right questions.  Here are five things to look for when choosing a merchant account provider. It’s not complicated! Setting up a merchant account will take practically no time at all when you make the right choices, and you will have…

Underneath the smooth, streamlined surface of a credit card sale, there are many components. To start, there are four elements to each transaction: the merchant, the acquiring bank, the issuing bank and the customer. The merchant is the business or store owner who provides a good or a service. The acquiring bank is the store…