Merchant account holds or full account freezes disrupt your cash flow and can make it difficult to conduct business. In this article, we’ll take a look at both holds and freezes, why they happen, and what you can do about them. This article refers to account holds and freezes on funds from sales at a…
An extremely important but seldom talked about topic in credit card processing is merchant account holds and freezes.
Let’s take a look at what matters – and doesn’t – when it comes to applying for a merchant account. Why does my personal credit matter? During the Application How good does my credit have to be? Does my personal credit affect my rates and fees? Can my existing merchant account be revoked if I…
A merchant services account is essentially a line of credit that enables you to accept credit cards. As the applicant for a merchant account, your personal credit is an important consideration during the application process, but it doesn’t have the same effect as it would on a conventional line of credit or a loan application.
For example: If your merchant account has a 5% rolling reserve for 18 months, the processor will withhold 5% of your gross sales. The 5% of sales that are withheld will not be accessible to you for a year and a half. Why are rolling reserves imposed? Transactions Affected by Rolling Reserves Effects of a…
A rolling reserve allows a credit card processor to withhold a pre-specified percentage of your gross sales. The processor deposits the held funds into a non-interest bearing account for a pre-determined period of time that is specified in your merchant processing agreement.
Charts are easily manipulated, leaving you to try comparing apples and oranges. Even if the creator of the chart doesn’t intend to mislead, a lack of complete information can be just as detrimental to finding the right solution. When you’re looking for the best credit card processor, the key is to find the right one…
I’m often asked why this site doesn’t have a lengthy merchant account comparison chart. The answer is simple – these intricate comparison charts are useless.
What is Samsung Pay? How does it work? Samsung Rewards What cards work with Samsung Pay? Security How much does it cost? How can I accept Samsung Pay at my store? What is Samsung Pay? Samsung Pay is a digital wallet that can be used with Samsung Galaxy phones in models S6 and later. Users…
Samsung Pay is a digital wallet available from major electronics manufacturer Samsung.
Tips over a certain percentage of the bill can trigger flags for fraud, resulting in card issuer-initiated chargebacks, or can cause your transaction to be downgraded to a more expensive interchange category. Tip Tolerance What happens if I get a chargeback for a big tip? Tips and Interchange Downgrades Spotting Downgrades on Your Statement How…
Now that credit and debit cards have become a popular way to pay for meals, customers often add tips for servers when they sign their credit card receipt. However, this common practice could have implications for your bottom line.
Since it’s launch in 2014, Apple Pay has been gaining traction as a payment method for consumers. More businesses are switching to contactless terminals, meaning there will be even more locations that can accept Apple Pay in the future. What is Apple Pay? Apple Pay Online How does it work? Apple Pay on Websites Security…
By now, most people have heard of Apple Pay, a contactless option to pay using a credit or debit card through your iPhone or Apple Watch. But how does a business accept Apple Pay?
Digital wallets are becoming a more popular way for to pay for goods and services. With choices like Apple Pay, Google Wallet, the upcoming Samsung Pay, and even PayPal, there are plenty of options for customers no matter what kind of smartphone or electronic device they use.
Digital wallets (like Apple Pay) are a way to pay for goods and services using your compatible smartphone or smartwatch instead of pulling out a physical credit card.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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