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 [...]
Depositing – How Does it Happen and What Can Go Wrong
As a merchant, one of your primary goals is probably to get paid at the end of the day. But did you ever wonder how those transactions you process through your terminal end up as funds in your bank account? Probably not… the logistics behind transaction processing is hardly what would make up good coffee [...]
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 [...]
So You’re High Risk… Now What?
You’ve made a big decision and you’ve decided to open your own business. Perhaps it’s those cute little crochet animals your nana taught you to make or maybe it’s the homemade jams you get praised on by everyone in your family… either way, you’ve decided to set up a website and sell these little goodies [...]
Cash Back: What is it & should you offer it?
Now with even your favourite coffee store accepting plastic, does anyone even carry cash anymore? While paying with cash is becoming more and more obsolete but there will always be those individuals who prefer to pay with this method. And with the ever growing concern of debt and money management, more and more experts are [...]
Leasing vs. Owning Your POS Terminal
POS Terminal simply stands for Point of Sale Terminal, it’s a fancy way saying credit card machine or debit card machine. The questions we will be addressing in this article is: “Is It Better To Lease or Is It Better To Buy Your POS Terminal?” When the banks deregulated the Merchant Services for business all [...]
Is My POS Terminal Chip Ready? (Questions You May Want To Ask)
Point of Sale machines have been used in business for almost more than 20 years at the point in time. Up to now, the actual physical terminal has undergone very few physical changes. With the exception of different functions, software, applications, the actual physical terminals themselves have had no massive difference or change in the [...]
When Rates Are ‘Too Good’ to Be True And How to Tell
My mother used to tell me all the time, if it looks “too good to be true” than it probably is. This advice is applicable to all walks of life and especially pertinent to Merchant Service Providers. We all have the inner critic that screams inside us when we know we see something good, so [...]
What the Difference is Between an ISO and Bank Related Merchant Account?
When considering where to obtain merchant services, there is no shortage of providers to choose from now a days that’s for sure! There is no doubt that processing has become a lucrative business. Over time, the service has been de-regulated, so merchant’s have much more choice as to who they want their provider to be. [...]
