Purpose of a travel merchant account
Merchant accounts come in a number of varieties and the type of merchant account that you acquire will depend on your individual business needs as well as the industry that your company or business operates in. Travel merchant accounts are one example of some of the many types of merchant accounts available…
What is an acquiring bank
An acquiring bank, also known as an acquirer, is a bank, financial institution or corporation that accepts credit or debit card payments on behalf of a merchant. Some of the biggest international acquiring banks include Visa, MasterCard, American Express and Diners Club…
Charges for online merchant processing
When processing online credit and debit card transactions online, it is important to be set up with an online merchant account provider. A merchant account provider plays a key role in facilitating the process of a transaction. Online merchant processing usually charges certain fees, depending on a number of factors…
Why use virtual credit card processing
Credit card processing terminals that are used online are known as ‘virtual’ credit card processing terminals. Virtual terminals enable the processing of credit and debit card payments through the use of the internet. In comparison with the traditional offline POS terminals, they offer a number of favorable conditions and this is one…
What is an e-check chargeback
An e-check chargeback carries out essentially the same role as a credit card chargeback. It occurs when a customer wishes to file a dispute with their issuing bank regarding a payment involving an e-check that they have previously processed…
What is an e-check
An e-check is essentially an electronic version of a paper cheque. It comes in an electronic format for the purpose of making payments online. In order to process an e-check, the bank account in question must be linked to a business which enables money to be transferred and payments to be processed through the use of the internet…
Why an international merchant account
When choosing to set up a merchant account it is important to ascertain which merchant account you would like to set up. The specific account that you establish will influence how your clients’ funds are processed and the speed with which transactions are executed. For retailers with an international customer base, an international merchant account is recommended…
What is underwriting
Before a merchant enters into an agreement with the merchant processing bank, they must go through a stringent underwriting process. Underwriting merchant accounts involves a processor determining a merchant’s business credibility by assessing a number of factors. In addition, the owners’ credit worthiness is also determined, to assess their eligibility as a…
What is a low risk merchant account
A low risk merchant account is a specific type of account that is considered to carry minimal risk in comparison to other types of merchant accounts. Generally speaking, a low risk merchant account enables businesses to process transactions with debit or credit cards as well as other forms of payment…
What is an offshore merchant account
An offshore merchant account is an internet trading account that is set up specifically to enable a company to provide online merchant account services to its customers. Such an account therefore enables a merchant to process online payments in a quick, efficient and convenient manner…
