• Credit card processing fees- A few things you must know!

    Credit card processors have earned disrepute for levying fees under many pretexts and attempting to swindle the customers. Same is also true for merchant account processing. But one needs to realize the fact that charges and fees are a source of revenue for them. By being knowledgeable about various fees can help you appreciate and understand better the credit card processing fee structure. To educate yourself about credit card processing fees here is a list of various types of fees that are usually charged by card processors: 1. Application Fee. You pay this upfront at the time of filling out the application for the merchant account service but is normally not levied by reputable [...]
  • Involving Credit Card Processing Companies Boosts Your Business

    A credit card is the most used cashless mode of payment which is considered highly secured because it relieves you from the tension of carrying hard cash. Credit card processing becomes all the more important when you are traveling and do not want to risk losing money during your journey through theft or other lapses. With the popularity of the online business, credit cards are the best friends of clients. It is well known that buyers tend to spend more money making purchases with credit cards because they do not need to transport cash, and they can be strained at a later date. This provides an excellent opportunity for traders who trade online. According to most online merchants, [...]
  • credit card gateway

    Now that we’re in the age of the internet, more and more merchants are making the smart decision to bring their business online. In order to do this, though, they need a way of accepting credit card payments through their websites just as they would be able to at their in-person storefronts. This is done through a payment gateway, a service that allows credit card transactions to be accepted. A gateway works similarly to a payment processor, in the sense that when a credit card transaction is made, they pass on the transaction information to acquiring banks (or the banks that the merchant or business belong to) and also communicate the response from an issuing bank (the customer’s [...]
  • credit card processing system

    When you first begin to set up your new business, you have so many different options when picking a credit card processing system to ensure that all of your transactions run smoothly. One popular choice for this is a system called Square. Square is known by its signature small white square card reader, which can be attached to a smart phone or a tablet and is provided to its customers free of charge. They also offer chip readers and readers that take Apple Pay at a low fee. This system charges the same fee for processing all different major credit cards, which is 2.75 percent per tap, swipe, or dip, or 3.5 percent plus 15 cents for each keyed-in transaction that is run. They do [...]
  • credit card processing fees

    Whenever a purchase is made with a credit card, it incurs various fees as it goes through the process of being paid. Since there are various different parties involved in the processing of a credit card transaction and the information and funds change hands so many different times, some of the parties involved end up charging one another for their part in the transaction process. The biggest source of credit card processing fees is the interchange fee. An interchange fee is paid to card-issuing banks (which are the banks that the credit card companies or types belong to). The banks of credit card companies (such as Visa or MasterCard) determine how much they want to charge a merchant [...]
  • credit card transaction process

    Whenever a credit card is swiped, inserted, or inputted into a website, it goes through a transaction process in order to complete the purchase being made. This transaction process involves multiple parties and is a multiple-step process. The parties involved in a credit card transaction are the cardholder, the merchant or business, the acquiring bank (also known as the business or merchant’s bank), the payment processor, the credit card network or association member (such as Visa or MasterCard), and the issuing bank (or the cardholder’s bank). The first step in the transaction process is authorization, which is when the merchant gets approval to charge the card from the [...]
  • what is a payment processor

    When starting up your very own business for the first time, there are a lot of factors to consider. One of the biggest is that when customers make a purchase from you using their credit cards, you need to have a system in place to process their payments. That’s where a payment processor comes in. So, what exactly is a payment processor? A payment processor is essentially a third party company that handles your transactions and that are made in your business, so that customers can make payments with their debit or credit cards. The company takes the customer’s card information and passes it on to the customer’s bank as well as your business’ bank, and it ensures that there are [...]
  • Credit card processing with tablet

    Many small local businesses, especially restaurants, are making a shift in the way that they are processing transactions, rather than purchasing a computer system with an old-fashioned cash register and a card reader, they are using tablets such as the iPad at checkout to run customer’s credit cards.   This upgraded way of processing transactions with a tablet is easier and more visually appealing for both parties involved. Menu items are available for selection on a touch screen for the employee to select, the customer hands the employee their credit card, and then the employee can simply turn the tablet around to the customer for them to accept the payment, add a tip if [...]
  • Credit card processing with invoicing

    Monthly subscription services are growing more and more popular every single day, and with all of these services that you can sign up for, it’d be easy to lose track of the automatic processing and extra spending on your credit card each month.   One of the most popular monthly subscriptions is Netflix, a movie and television streaming service that allows users to watch content on their televisions, tablets, smartphones, or computers. There are other streaming services as well, such as Hulu and YouTube Red, and the typical invoice for these streaming services is around ten dollars per month. Invoicing is done every month until a user cancels their [...]
  • Credit card processing with monthly minimum

    When new adults and young college students are looking to establish themselves in “the real world”, they oftentimes do so by beginning to build their credit and opening up credit cards. However, simply having a credit card is not enough to establish yourself, you need to actually use it.   Oftentimes, these new credit card users are nervous to process purchases for fear of going overboard on their spending, and not being able to pay off their cards at the end of the month. That’s why some tend to set monthly minimums for themselves, in an attempt to learn how to budget their lifestyle while still building credit for their futures.   Many students break down their [...]