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Considerable logistics and providers are required to process credit card payments for your business. Whether you sell online, in a brick-and-mortar location or both, you need a merchant account to accept credit card payments.READ MORE
Processing a credit card starts a chain reaction of communication. Your Merchant Account Provider sends the transaction info to the card association network via its processor (aka the technical glue that handles the transmission of transactions). Then, the card network reviews the transaction info and responds with an approval or denial, which is communicated back to the provider to complete the transaction. This all happens in a matter of seconds.READ MORE
It’s said there’s no such thing as a free lunch, and the adage definitely holds true for the payments space. Whenever a service is rendered, it generally comes at a cost, which is why Merchant Account Providers charge monthly minimum fees.READ MORE
When searching for a Merchant Account Provider, you’ll want to consider your billing cycle options. Sometimes it's personal preference, but more often providers ultimately decide the frequency of your billing cycle for you. It’s important to understand your options and the impact they may have on your business. For your convenience, we compare monthly vs. daily discount.READ MORE
Why don’t businesses accept American Express as commonly as Visa and MasterCard? Traditionally, a huge profit driver for Amex was its high Flat-rate processing, making it more expensive and less appealing to businesses. True to form, Amex also operated a bit differently than Visa and MasterCard when it came to the configuration of its merchant accounts until now.READ MORE
A notification of change (NOC) occurs when the bank sending funds notifies the bank receiving funds that some portion of the once-valid information has changed. This could result from a bank buying another bank, which would cause routing numbers to change. With NOCs, ACH transactions will run successfully, but your business will incur a fee. These notifications of change are inevitable, but they could eat away at your profits if you’re not with the right provider.READ MORE