Merchant Account Glossary Terms
Understanding Merchant Account Fees
Merchant Account Fees-What you need to know! As a merchant account provider, we are always looking for the best pricing solution for each of our customers. The pricing structure and Merchant Account Fees for all merchant accounts can vary wildly from person to person, and business to business. Here at SecureGlobalPay, we work hard to
Top Six Rookie Mistakes Made When Choosing a Merchant Account Provider
Choosing a Merchant Account Provider and Representative that has your Best Interest at heart is key Choosing a Merchant Account 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
What You Should Know About Costly Downgrade Fees
The term EIRF and/or Standard EIRF (SEIRF) are terms 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
Understanding Credit Card Chargebacks and Fraud
Credit card chargebacks occur when a customer has a chargeback dispute and decides to question a charge on their credit card statement with their Credit Card Company or issuing 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
How Does Credit Card Processing Work?
Credit Card Processing 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
Why do I need a Secured Payment Gateway?
What is a Secure Payment Gateway? In today’s competitive online business environment, the ability to accept payments online is essential for merchants. This is made possible by a Secure Payment Gateway. The Secure Payment Gateway handles electronic exchanges between customers, vendors, and each of their respective financial institutions. Review our robust API by setting up
What is a Chargeback?
What is a Chargeback? Put simply, a chargeback is a reversal of a credit-card transaction. Chargebacks can occur for many reasons. But regardless of the reason, a chargeback means that a merchant ends up providing a product or service for free. In addition, the merchant is usually required to pay additional fees in the form