Setting up a merchant account is easy, but it can be very complicated for an individual who does not know the right information and/or depends on faulty advice. While many people may claim that they can help you set up a 'quick and easy' merchant account, in reality this is...
What is EBT Payment Processing?
EBT payment processing is a method of clearing and settling transactions (obtaining verification of transaction). EBT stands for Electronic Benefits Transfer. It is the system that was set-up by the government to help welfare recipients with food, cash, and rental assistance. These payments are made through state and local governments...
What is a Good Credit Score?
A good credit score is one that lenders and creditors approve of: a FICO Score between 670 and 739. There are other types of credit scores, such as auto insurance scores and rental history scores, but the most well known is FICO. Although banks and other creditors sometimes use credit...
What is a CVV Number?
A CVV number is a three or four digit security code most commonly seen on a credit card. The primary function of the CVV number is to verify that the user has physical access to the corresponding card, hence providing an added layer of security against credit card fraud. How...
What is a Mobile Point of Sale System?
Mobile point of sale is used to process credit cards using an Android tablet, netbook or iPad. Typically this would be for a business with counter service where customers are lined up waiting. By the time an employee retrieves their mobile POS system from wherever they have it stored, signs...
How Does Mobile Payment Processing Work?
A mobile payment processing service is the one that allows you to make payments through your smartphone. This way, it uses point-of-sale (POS) terminals in order to process these payments. In this case, when a purchase is made, the transaction amount is deducted from the customer's account and added to...
What is Network Access and Brand Usage Fee?
Network Access and Brand Usage Fee is a new fee that will be introduced on 4 September 2012 by all mobile operators in Singapore. It will help to recover costs of expanding network coverage, future rollouts of new technologies and the rising cost of running mobile business. To simplify the...
What is a Bail Bond? A Complete Guide to Bail Bonds in America
A bail bond is a written promise to pay an amount set by a court if the defendant fails to appear at their court proceedings. A defendant would usually get a bail bond from either a friend or family member, sometimes with help from a bail bondsman. In some cases,...
What Is QuickBooks Workforce?
The QuickBooks workforce management software is an in-house solution for small business owners in the United States. It's one of many services offered by Intuit, but it's definitely one of their most popular ones. The Workforce Management tool lets you control when your employees work and allows them to clock...
Understanding Debit Card Processing Fees
Debit card processing fees are the costs that your financial institution pays to process debit card transactions. Debit cards are accepted by both merchants and ATMs for use in making purchases, withdrawing money from savings accounts, checking balances, etc. Debit transactions can also be used as a form of identification...