A Credit Card surcharge is the extra charge that business owners place on purchases made using credit cards. Credit card companies earn revenue for each purchase actually made with their cards—and these costs are typically passed along to customers in the form of higher prices. A Credit Card Surcharge is...
Best Way to Get the Cheapest Credit Card Processing Rates for Your Business
Small businesses may find credit card processing fees to be high, especially if they are on the lower end of volume. Cheapest credit card processing rates often becomes possible by using comparison shopping techniques and making sure the small business owner understands the various costs involved in credit card processing....
What Is a E-Wallets and How Does It Work?
The biggest question is, what exactly is an e-wallet? Let's start with the basics. E-Wallets are like real wallets except they're used to pay for things electronically as opposed to using cash or credit cards. So you're basically talking about online accounts that allow people to make electronic transactions and...
How to Sell Merchant Services?
The process of selling merchant services is not only complicated but also confusing for most small business people. Most of these business owners fail to get their dream deal because they do not understand the terms and conditions involved with a standard Merchant Services Agreement. A merchant service provider will...
What are eChecks and how do they work?
An eCheck is an electronic payment method through which money can be sent or received. This option is very similar to writing a check, but the transaction takes place online. This process has several advantages over other methods of conducting business transactions online. One reason why people like using this...
What is Tap and Pay (NFC)?
Secure Authentication Using NFC, or Tap and Pay as it is more commonly known as, refers to the use of NFC tech in a smartphone to verify the authenticity of the owner. This process takes part when a consumer wishes to make a payment using their NFC capable phone at...
What is a POS Transaction?
A Point of Sale (POS) transaction is when a customer uses their debit or credit card to purchase an item at your business. POS systems are vital in every retail, restaurant, and hospitality setting for accepting these electronic forms of payment. The best POS solutions will have the ability to...
What is Cash Discount payment processing?
In a cash discount payment processing program, customer payments are discounted from full prices at a certain rate. This is very different from a standard credit card processing program where the entire price of an item is charged to a customer's credit card at the time of purchase. Cash discount...
What is a Surcharge Program?
A surcharge program is a way for businesses to pass on the credit card processing fees they pay to their customers when accepting payments with a credit, debit or gift card. By including a small charge for processing in the transaction, merchants can generate revenue from what would be considered...
Credit Card Processing Fees and Rates Explained
When it comes to understanding credit card processing fees and rates, there is a lot of information to take in. It can be confusing to know what all of the different terms mean, and how they impact your business. In this article, we will explain the most common credit card...