General

Typing a card number into a terminal may feel like a small change, but the payment system sees a different kind of transaction. When the physical card is not read by a chip, contactless antenna, or magnetic stripe, there is less evidence that the card was actually present. That extra uncertainty often means higher interchange…

Two businesses can accept cards through similar-looking apps while operating under very different account structures. One may be enrolled as a submerchant under a payment facilitator, often called a PayFac. The other may have a traditional merchant account with its own direct acquiring relationship. The difference can affect onboarding, support, pricing, funding, and account control….

When the effective cost of accepting cards rises, many merchants assume their processor increased its margin. Sometimes that happens, but not always. A processing bill combines several layers, including card-issuing bank interchange, card-network assessments, processor pricing, and other account charges. The mix can change even when the processor’s stated markup stays exactly the same. Why…

A burst of tiny online orders may look harmless. In reality, it can be card testing, a fraud tactic in which criminals try stolen card numbers to learn which ones still work. Small businesses are attractive targets because an unprotected checkout form can be easier to exploit than a large retailer’s heavily monitored website. Why…

A customer pays $100, the terminal says approved, and the business owner expects exactly $100 to appear in the bank. Payment processing is rarely that immediate. The approval is an authorization, while the movement of money happens later through settlement. Understanding the gap helps explain pending charges, missing deposits, tip adjustments, and daily totals that…

Most business owners never see their merchant category code until something goes wrong. Usually called an MCC, this four-digit number tells card networks what kind of business is accepting the payment. A restaurant, plumbing company, charity, and online retailer will each fall into a different category. That small classification can influence far more than the…

It may appear that changing your payment processor is difficult; however, it is not. Whatever your reasons, whether it be for customer service, cheaper rates, technology upgrades, or added payment capabilities, taking the right steps can help your company save both money and time as well as improve the overall customer experience. When making this…

Doing business well frequently requires the use of several different software applications on a daily basis. You could have software for accounting, another one for inventory, a CRM software, a scheduling tool, and an online store. If all these pieces of software aren’t connected, staff can spend a lot of time entering the same data…

POS solutions are among the most critical pieces of equipment in your business since they are used to process payments, record sales and inventory. However, just like any other piece of equipment, POS systems wear out. Therefore, when your POS system is making things hard for you and is no longer up to the job,…

Every payment that your business receives is full of useful information. Although most business owners tend to check their sales figures at the end of each day, today’s payment reporting is capable of providing a lot more valuable information than that. Rather than telling you only the amount of sales received, payment reports can give…

However, how people pay has seen many changes during the last years. Although it remains popular to pay via traditional credit and debit cards, an increasing number of people opt for using payment methods through digital wallets such as Apple Pay, Google Pay, and Samsung Wallet. The purchase can be made by tapping a phone…

Recurring payments have emerged as a significant source of revenue for many companies. These include everything from gym subscriptions to membership companies, software companies, subscription boxes, and service-based companies. The benefit of automatic payments is that they provide a steady income stream for businesses while keeping things easy for their clients. However, payments do not…