Posts by Lauren Vanegas
Why do Acquiring Banks Perform a Risk Review?
Card brands, such as Visa and MasterCard, assess risk levels before boarding a merchant. Due to an acquiring bank processing card funds on behalf of merchants, MasterCard and Visa delegate this risk review to them. Merchant’s Risk Review Determining merchant risk is not clear-cut. There are numerous factors to carefully consider and weigh. These factors…
Read MoreFactors to Tick Off Before Partnering with a Merchant Service Provider
A merchant account is a must-have if you want to collect electronic payments for your business. This includes debit cards, credit cards, HSA/FSA cards, and ACH, or e-Check, payments. Despite a merchant service provider being a crucial tool for business success, not all processors are created equally. Choosing the wrong merchant service provider could be a…
Read MoreAre Electronic Signatures Safe and Compliant?
All the mobile apps and online sites aside, one thing has remained important – the signature. In the past, individuals used to sign their signatures on paper with a pen. This is called a wet signature. However, electronic signatures are a modern signing method that is expanding rapidly. These signatures ensure business is not slowed…
Read More5 Things to Know Before Opening a Startup Business
It takes more than having capital backing and a brilliant idea before opening a startup business successfully. Many first-time business owners rush into the market without a plan to be squashed by the first hurdle they face. Startups can be very rewarding if you properly approach them. If you are planning on opening a startup…
Read MoreSuccessful Debt Recovery Tips for Businesses
When customers do not pay promptly, a company’s cash flow is significantly affected. Therefore, designing an effective collecting strategy for past due accounts is vital for success. Here are several successful debt recovery tips any business can utilize to manage their account receivables effectively. 1. Send Automatic Payment Reminders The payment reminder game has drastically…
Read MoreMotivating Customers to Pay via ACH
Automated Clearing House (ACH) payments are cost-effective, quickly processed, and improves cash flow. This method transfers money from one bank account to another without using physical checks, cash, or credit cards. While commonly used for recurring transactions, but don’t rule it out for one-time payments. Businesses should begin taking advantage of this electronic payment method…
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