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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…

When a customer uses his or her credit card through a tap, insert, or swipe method, the transaction seems to be almost instantaneous. In just a few moments, the transaction would either be accepted or rejected, and then the customer leaves. However, there is a complex system of technology involved in facilitating the transaction between…

Choosing the payment terminal might not be such an easy task. However, having the proper payment terminal will make your customers happier and speed up the checkout process, making your business run smoother. In the light of the fact that there are countless choices on the market, it is crucial to know what kind of…

The vast majority of entrepreneurs know how crucial great customer service is, yet very often they neglect one element that might influence your sales to a large extent – fast checkout. Long queues and delays during the paying process may not only annoy your customers but also make them leave without buying anything. And not…

Now more than ever, it is critical for business to ensure that customers have quick and easy payment solutions. With the expectations that people now have from businesses regarding efficient payment methods, many customers no longer prefer sending physical checks or calling with their credit card details. It is for these reasons that Text-to-Pay has…