merchant account glossary terms
What You Pay for a High Risk Merchant Account – Fees, Charges and Reserves
Many businesses that seem totally safe and uncomplicated to you and me, can sometimes be considered high risk by banks and card processing companies. The cumulative effect is that the cost of payment processing services is higher for those businesses than for low risk “regular,” businesses. You may be surprised to learn that old-fashioned bricks…
Read MoreWhat is Micros аnd How Dоеѕ It Integrate with Poynt?
MICROS-Rеtаil, thе retail solutions division оf MICROS Systems Inс., is thе lеаding provider оf соmрrеhеnѕivе, bеѕt in сlаѕѕ ѕоlutiоnѕ fоr the wоrldwidе retail аnd dirесt mаrkеtѕ, enabling mеrсhаntѕ tо deliver оn thе сuѕtоmеr еxреriеnсе whilе optimizing operational еffiсiеnсу across аll сhаnnеlѕ. Thе соmраnу оffеrѕ a full ѕuitе оf ѕоlutiоnѕ in a choice оf deployment орtiоnѕ.…
Read MoreAll About a Terms and Conditions Page for Your Online Store
If you have any experience with building an online store, then you are most likely familiar with a Terms and Conditions page. Whether you are a small business selling a few products online or a large corporation with multiple websites, a Terms and Conditions statement gives your customers rules to follow when using your website.…
Read MoreAll About a Merchant Account Privacy Policy
If you have applied for an online merchant account, you have most likely been asked to submit a website privacy policy to your Merchant Account Provider. It surprises many of our customers when they learn that a privacy policy is one of the required documents that must be on the website before they can receive…
Read MoreWhat are Merchant Account Basis Points?
Credit card processing is a complicated system of percentages, fees and points. In the article below we specifically focus on basis points and how merchant account fees are calculated using basis points. This will especially help in understanding how a processor uses basis points to generate fees. What is a “Basis Point?” In terms of…
Read MoreAll About Merchant Account Underwriting
In order for your small business to process credit cards, most merchant account providers will have you go through a fairly detailed application process. This will help to determine the type of risk factors your small business may pose to the merchant service provider and sponsoring bank. Gathering this information is part of the merchant…
Read MorePCI Compliance Guide
If you own a merchant account, then it is most likely you are familiar with the term “PCI Compliance.” It is also just as likely that you may not know exactly what PCI compliance has to do with your business. What is PCI Compliance? The official term for anything related to PCI compliance is Payment…
Read MoreHow the Address Verification System (AVS) Works
The Address Verification System(AVS) is a system used by financial institutions to help prevent fraudulent credit/debit card purchases. When a credit card transaction is processed through the payment gateway, the issuing bank will request the billing address of the card holder. This information is typically stored on the magnetic strip located on the back of…
Read MoreHow the Automated Clearing House Network (ACH) Works
The use of credit/debit card processing has skyrocketed over the last decade. Accepting credit and debit cards through mobile phones, tablets and computers has made it extremely convenient for businesses to offer payment processing services saving them time and money. The Automated Clearing House Network (ACH) plays a crucial role in helping businesses provide secure…
Read MoreLevel 2 and Level 3 Credit Card Processing for Business or Government
SecureGlobalPay offers many different merchant account solutions for those who need processing for business-to-business and government-to-business credit and debit card accounts. Credit card processing generally falls into three different categories: Level 1, Level 2, and Level 3. Each level designates how much information is needed in order for a credit card to be processed. Level…
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