Posts Tagged ‘Merchant Account’
What Is a Merchant Account?
Being an entrepreneur, you may wonder what a merchant account is. Generally speaking, a merchant account makes it possible for a business to accept credit or debit card payments. A company must provide various requested business documentation and apply to a merchant bank for a payment processing account. These days, every industry benefits from offering…
Read MoreInstant Merchant Account Approval
Key Takeaways Instant Merchant Account: An instant merchant account allows businesses to immediately process credit card payments. Factors for Approval: Factors such as a high credit score, providing relevant financial documents, and having a functional website can increase the chances of instant merchant account approval. Delays in Approval: Being a high-risk merchant, poor credit history,…
Read MoreCredit Card Chargeback vs Credit Card Refund: What’s the Difference?
Every merchant wants repeat business. Satisfied customers who come back to shop again is the name of the game. It establishes loyalty and trust with your brand. Unfortunately, this is not what always happens. There are instances where a purchaser will be dissatisfied with a product or service. How your business handles this unavoidable situation…
Read MoreProcessing Web Payments? Make Sure Your Website Is Card Brand Compliant!
There is no doubt about it; accepting online web payments significantly boosts your business profits. Did you know if you currently are processing web payments, your site needs to be card brand-compliant? It does!! Visa, Mastercard, Discover, and American Express, the major card brands, require online merchants to have clear policies revealing information about the…
Read MoreHow Does the Electronic Payment Processing Cycle Actually Work?
Key Takeaways Key Players: Merchants, customers, online payment gateways, payment processors, card associations, issuing banks, and acquiring banks. Merchant Account: Obtained from an acquiring bank to facilitate electronic payments. Customer Role: Authorizes the transaction by presenting a card for payment. Online Payment Gateway: Channels card details to acquiring banks and ensures security. As a business…
Read MoreWhat are Merchant Services?
When starting a business, one of the most crucial decisions is deciding how you will accept payments and what payment types you will accept. Gone are the days where cash is king, so you will need a merchant account to process electronic payments. Not to mention, a majority of shoppers today prefer card-based transactions compared…
Read More