Category: Merchant account
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Why Plastic and Cash are Losing Popularity, and Why That’s Ok
When someone wants to pay for something at a register, they usually reach for the credit card or a wad of cash. That’s beginning to change, though, as smartphone adoption rates rise. One major reason why is that the concept of a digital wallet is finally becoming reality. Digital wallets are accounts online that remain…
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Why Transfer Speed Matters in eCommerce
Transfer speed refers to the speed at which money is transferred between merchant accounts and customer bank accounts. Transfer speed is important, because it determines when you’re paid for the work or items you’ve sold. For small businesses, transfer speed plays a major role in operations for the first few years, as it can impact…
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Why Customer Service Is Important For Merchant Account Holders
Customer service probably isn’t the first thing you think about when you’re trying to consider credit card processing services offering competitive rates. You’re usually thinking about the costs to your business, so you can control overhead. That’s not the wrong approach, but don’t just dive into an account with great rates. What they lack in…
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The Pros and Cons to a Cash-Only Business
By Phineas Upham If you’re looking to open a retail business, you might be wondering whether you’ll need a merchant account or if you can get by as cash only. The good news is cash is the most common form of tender, and it’s only up until recently that the idea of a cash-only business…
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Every Business with a Merchant Account Needs to Know About This Fee
Merchant accounts have two fairly common pricing tiers consisting of three and six-tiered pricing. This is by design, of course, because these are the easiest pricing tiers to explain to potential buyers. All fees present some form of risk to the merchant, but chargebacks present the greatest potential risk to banks and providers so merchants…
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8 steps to fighting chargeback fraud
Credit card chargeback fraud is a persistent problem for merchants and can be hard to detect. But there are ways small-business owners can fight back. Fraudulent chargebacks include cases of identity theft and so-called “friendly fraud,” in which a customer deceptively says a product or service was never ordered or was not delivered. Friendly fraud accounts…