If you think back just 15 years ago, the definition of a terminal was that old manual imprinter or what we in the industry affectionately refer to as the knuckle buster. A terminal install consisted of screwing on the copper plate that had your merchant name and merchant number stamped on it. And your supplies [...]
Reading the Fine Print of Merchant Account Agreements
We’ve done a lot of articles in the past on Interchange and what to look out for and yet, we still see small merchants getting trapped into long term contracts at rates so high, you might as well be sending in paper deposits. So we’ll stress again how important it is to pay attention to [...]
Mobile Payments
With the launch of Google wallet, there’s been a lot of buzz about mobile payments. Visions of paying for that hamburger at lunch by a wave of your mobile phone dances through the minds of Canadians fuelled by the constant media attention. But how close is mobile payments really? The reality is, unlike the months [...]
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 [...]
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 [...]
Non-Qualified Transactions: Read The Fine Print!
Non-Qualified Merchant Account Rates (MDRs) As the world of merchant processing continues to evolve, complexities are introduced everyday into the way a merchant is charged for processing a credit card transaction. As the industry is becoming more and more competitive, Acquirers and Independent Sales Organizations (ISO’s) are becoming more and more creative in the way [...]
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 [...]
5 Things to Check for “Comm Error” Response on Your Tech Trex Terminal
It’s a Saturday afternoon, your store is filled with anxious customers and suddenly your terminal is not working. You’re doing everything the same as usual but when you attempt a transaction you are greeted with a response of Comm Error. Do not panic, many simple POS terminal communication issues can be resolved quickly by following [...]
Canada vs. US – are we that different?
In most cases… I would say no. I mean, we’re all North Americans. International Merchant Account Services Vs. Canadian Merchant Account Services Both countries have folks who love their Starbucks and both have those who love either their Timmies or their Dunkin’ Donuts. We both have different demographics and a mixture of cultures throughout the [...]
The Difference between a Retail Merchant Account versus an E-commerce Merchant Account
There are a few major differences when dealing with a Retail Merchant Account, and an Ecommerce Merchant Account. Both are similar in that, a merchant or seller is able to accept Visa, Master Card, American Express and Interact, as a method of payment for goods and services rendered, but the way they are accepting these [...]
