It seems we’re still getting a lot of questions on our forum around what is required to set up a merchant account. So let’s take it back to the basics today and we’ll go through the requirements of setting up a standard card present merchant account. With this information, hopefully we can make the process [...]
How to Pick an Acquirer
When starting a business, several important decisions need to be made. But one of the most important that most often overlook or pick haphazardly is choosing a payment processor. People… this the company that will be ultimately paying you. Unless you plan on being a cash only business, picking a payment processor should a process [...]
Chargebacks – How to Protect Your Business
Chargebacks… one of the most dreaded terms of the merchant processing industry. Properly defined, it’s the dispute initiated by either a cardholder or a financial institution against a transaction that was processed at your store. Either the customer was unsatisfied with the product or they didn’t receive the goods or the worst, a fraudster has [...]
Cash Back – Should You Offer It?
The Point of Sale industry has completely changed the way people do business across the board. As a natural result of need, there are now many merchant service providers to choose from. With so many companies in contention for the same business, they will employ a many number of tactics to obtain a merchant. The [...]
Should a Merchant Surcharge?
In the early days of Merchant Services, before the deregulation (the emergence of ISO’s who are now able to offer competitive services) merchant’s simply had their services, both terminal and processing, taken care of directly by their bank. We know that the banks themselves do not process credit card services directly but, they chose exactly [...]
Restricted & Prohibited Business Types
Is Your Business On The Restricted and Prohibited Business List? Every business out there will be more successful if they have a number of different payment options available to their clients. It is a sign that the merchant cares for their customer’s and wants to make their transactions as effortless and comfortable as possible. Dually [...]
3 Reasons You Were Declined
3 Reasons Your Merchant Account Application Was Declined That Could Not Have Been Helped All of the major Credit Card companies and merchant services providers want to provide services for every business that comes to them. The reality is, they cannot indiscriminately just sing up everybody or else they may stand to loose a lot [...]
How to Process Secure Online Transactions
Online transactions continue to grow at an exponential rate every year and as a merchant, you need an online presence to ensure you are reaching all your customer demographics. But by adding an online store you will need a internet merchant account, however with online processing there also comes the threat of fraud. In an [...]
Code of Conduct for the Credit and Debit Industry – Part 2
Decoding the Code – Part 2 In this section, we’ll cover the rest of the policy elements of the Code. As mentioned below, the voluntary Code of Conduct was introduced by the Federal Government of Canada as a means to provide some legislation to the payment industry. As defined by the Government, the purpose of [...]
