merchant account glossary terms
The Basics on Merchant Account Fraud Prevention
Learning to recognize suspicious or unusual activity is the best prevention against online credit and/or debit card fraud. We highly recommend that you be vigilant in checking your merchant account statements for possible fraud charges. If you notice any transaction that looks in any way suspicious, we ask that you contact us immediately. We also…
Read MoreUnderstanding Merchant Account Fees
As a merchant account provider, we are always looking for the best pricing solution for each of our customers. The pricing structure for all merchant accounts can vary wildly from person to person, and business to business. Here at SecureGlobalPay, we work hard to make sure that you are placed under the structure that will…
Read MoreTop Six Rookie Mistakes Made When Choosing a Merchant Account Provider
Choosing a Merchant Service Provider for all of your credit card processing needs can be a daunting task. It can seem like there are hundreds of Merchant Service Providers to choose from. When setting up a merchant account it feels like you have to acquaint yourself with a number of new terms. Not to mention…
Read MoreWhat You Should Know About Costly Downgrade Fees
The term EIRF and/or Standard EIRF (SEIRF) is used by Visa and Mastercard to describe their “Electronic Interchange Reimbursement Fee” program. Sadly, this is not a program that will be reimbursing you, the merchant account owner, anytime soon. This is in fact, a fee that will be reimbursed to the bank that processes your credit/debit…
Read MoreUnderstanding Credit Card Chargebacks and Fraud
Credit card chargebacks occur when a customer decides to question a charge on their credit card statement with their Credit Card Company or bank. While chargebacks happen for a variety of reasons, the most common reason is that a customer no longer wants the service or product sold to them. While the chargeback process may…
Read MoreHow Does Credit Card Processing Work?
For many small and large businesses, understanding the basics of setting up a credit card processing account can be an overwhelming and daunting task. Below we break down how credit card processing works and the various steps it takes to securely process a credit card. With these basic facts you will feel confident enough to…
Read MoreWhy do I need a secured payment gateway?
A gateway is the Internet technique that handles the electronic interchange between customers, vendors, and each of their respective financial institutions. This gateway is the actual electronic medium where packets of information regarding payments are carried, thus the term – payment gateway. In the early days of electronic banking, fraud was more difficult due to…
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