• 10 Terms to Know About Merchant Accounts

    Welcome to the world of payment processing. There’s a lot of lingo that’s specific to merchant accounts and merchant services. When you’re shopping for a merchant services provider, you might be confused at some of the commonplace terminology. We’ve put together a list of 10 terms you absolutely need to know. Average Ticket Size The average ticket size refers to the average amount of each credit card transaction. You’ll be asked for the average ticket size when you’re opening a new merchant account. If...
  • Do You Qualify for a Small-Business Loan?

    Qualifying for a small-business loan can take your company to the next level of success. Asking the right questions before applying for a loan will help you identify the right timing for your small business to open a line of credit. Do you have all the right documents? Before you apply for a loan for your small business, gathering some basic documentation about yourself and your company will help the process go more smoothly. Every loan program is different; there are specific forms that...
  • The Risks of Credit Card Processing for your Business

    Millions of retailers and service providers accept credit card payments on a regular basis, and with this exchange of sensitive information comes risk for both the merchant and the consumer. These risks can include fraudulent transactions, and unverified chargebacks. Sensitive business information could be stolen When a business opens an account with a credit card processing company, it should have a payment gateway programmed into your web page software. This is a secure method for the consumer to input credit card data and have...
  • What to Know About High-Risk Merchant Accounts

    A high-risk merchant account is considered less reliable by merchant service providers, and many will hesitate to provide credit card processing to them because they don’t want to suffer great losses. There are multiple things that can make providers see your account or business as high-risk. What exactly is a high-risk merchant account, and what are the consequences of having a high-risk merchant account? Is my business considered high-risk? There could be many reasons why account providers have denied you. First of all, your...
  • Opening a Merchant Services Account

    Do you even need a merchant services account? If you want to accept debit and credit cards, you sure do. With fewer consumers carrying cash, failing to take card transactions is impossible in this day and age. Whether you’re running a small business, an e-commerce business, or a larger business, you’ll have to open a merchant services account. Here’s a quick run-down of the preparation and application process. Step one: Figure out what you want from an account provider It’s a good idea to...
  • The Difference Between Business Bank Accounts and Merchant Accounts

    Are you a new small business owner? You probably have a lot to take care of, and you aren’t looking forward to sorting out your financial issues. However, you’re going to need to take care of two things as soon as possible: your merchant account and your business bank account. If you plan on taking credit and debit cards—and you absolutely should, unless you like turning down customers—you need to open a merchant account. You also need to open a business banking account, which...
  • Small Business Credit Card Processing

    Opening a merchant account with a credit card processing company allows your small business to diversify payment options for customers. The electronics age is here to stay, and the very fact that the majority of consumers now use plastic cards to make purchases is reason enough to equip your business with a means of accepting virtual payment. More importantly, remember that consumers pay bills, buy movie tickets, and extend membership subscriptions using their smartphone. It is in your best interest to provide your paying...