Merchant Services

In this article, we have listed the Common Merchant Account Complaints and the tricks to avoid such issues in your organization. This article can help you look at both potential risks and rewards of working with a given company. Poor Customer Service Now your business and payment processing system cannot be perfect every time. And customer faces an issue with the management. At those times, it is the responsibility of the customer service team to provide the demanded attention to a specific topic. In such a case, you need to stabilize your customer support service. Tracking your product and customer reviews should be evaluated. You should take some time to minimize the customer waiting time. And nobody wants to listen to the automated answering service. Cancellation Issues This is one of the frustrating Common Merchant Account Complaints faced by the customers. Many times we order a product or service by mistake. In that case, you immediately try to ca

What is Merchant Processing Services? In the world of business, the merchant processing service is very important, in simple words, the merchant processing is nothing but the ability of the merchant to accept the payment without any error or issue. The payment could be in different forms such as cash, debit card, credit card, internet banking, and other online methods. These aspects of the business can immediately boost your business or take it down in one go. What are the Factors influencing the Merchant Processing Services Now that you understand the  Merchant Processing Services , let’s get to the point and discuss the methods to get the best merchant processing services. Here are some factors that can influence the Merchant Processing or Card Processing Services. Types of Payment under Payment Processor The merchant service provider of the payment processor needs to be according to your demand. You can explore the market with different payment processors a

First of all, you need to lay out the demands of your business to shortlist the high-risk merchant account providers. Then out of those shortlisted service providers, choose the one that feels right. Here are some aspects of the  Merchant Account  that can help you shortlist good merchant account provider. Efficient Support – The second most important requirement for the high-risk business account is the customer support. Choose a provider type that offers 24/7 support to their customers. This could help in dealing with a lot of matter in the future. Your queries will get answered quickly. Hardware Services – Generally, the bank or merchant service provider offers the hardware equipment for the card and cashless payment. These devices can include wired credit card terminal, a wireless terminal, a POS system, or a mobile Smartphone-based system with a card reader and an application. Some of these services are free while others have some monthly charges. High-Risk Busin

There are benefits of getting a Merchant Account Provider for Business: Better Money Management No matter how small or large enterprise you have, money management is one of the very important aspects of a business. Without proper management of money, you won’t be able to see any profit. This is how a merchant account helps: You get a merchant account, which is connected with all the modes of transaction available. Now, if a customer makes the purchase using the credit card, debit card, or other cashless modes, the money will be directed to your merchant account directly. Also, you can easily track the flow of money and make your business better. Customer Satisfaction There are many people who do not carry a large amount of cash anymore. Also, they prefer card mode of payment when it comes to expenditure. Coming back to the merchant, they need to equip their business with the tools to accept such payments. A merchant account provides such services. A

In this article, we discuss the details related to  Credit Card Payments  After Signature Rule Change. We will discuss old and new rules related to the payment after signature. For more information, feel free to contact Merchant Stronghold at the toll-free number. Why There was Need to Make Changes to the New Rule? Other card networks such as Visa, American Express followed over the steps of the MasterCard. But the Visa made it optional to sign on the receipt. Here are factors that made card networks to change the norms related to signature. The Card brands wanted to speed up the  payment process  by eliminating a step that is Signature. Also, a signature is not strong evidence to fight against chargeback/fraud for a merchant. Most of the signatures were unrecognized by the customers. Also, most of the people are adopting the internet banking methods, where signature rules are not applicable. Moreover, by applying the proper safety instruments, a merchant can re

The ACH stands for the Automated Clearing House, which is an electronic payment system. It is an electronic network for the financial transaction in the United States. The ACH processes huge transaction amount that is debited or credited. Also, the most common uses of ACH are online bill payment, mortgage and loan repayment, and direct deposit of payroll. The Credit Transfers are also pushed to the merchant account by ACH by quickly processing the transaction. ACH is a direct payment that uses the electronic method, which makes it fast and efficient. It makes easy for the merchant to handle and manage the transaction. This method is proved to be the most secure transaction method for both merchants and customers. How does ACH Payment Processing Save Time? The ACH is proved to be faster than other payment modes. This is because, when using the ACH, a unique routing number is provided that initiates the transaction. The money is then taken from the customer’s accoun

You can say American Express as Amex. It is a multinational financial service that also happens to be a popular card network. Along with that, American Express  Merchant Services  is a division of the Amex that works with merchants to process the various transactions in their business. Amex operates as both card issuer and acquirer which results in slightly different rules for the merchants if you are comparing with Visa or MasterCard. Just read the following article which helps you to understand the American Express Merchant Services before getting them. AMERICAN EXPRESS FEES & RATES The first question most of the merchant asks before getting merchant services is often related to fees. The prices set for the Amex are transparent and follows a robust plan. Also, American Express is continuously working to promote small businesses with their new ventures like opting Blue Merchant Services. In exchange for the payment processing network, American Express

There was this particular merchant based in the U.S. and, by the time it contacted us, it had gone to some of the biggest U.S. processors to open several merchant accounts, a couple of which are still active. Now, this is one of the biggest mistakes that merchants must not make —opening several merchant accounts at once, and not keeping them live. If it’s done otherwise, processors get nervous and understandably so —the new Merchant Account You are applying dormant is either closed down or replaced. In the event, we asked our merchant to explain why it had gone through the pain of opening these many merchant accounts and received a satisfactory explanation, which is not a typical scenario. I should also add that the merchant had already received notices that its remaining two accounts would be closed within a month, which brings me to the next lesson — if you operate an online tech support business, the mainstream processor would not be a viable option — even if you do manage to get

The vital goal is to evaluate the business’s level of high risk for the provider. Why? Because a merchant account is fundamentally a line of credit. If a business is strike with a chargeback but doesn’t have enough funds in the bank to pay it, the provider fronts that expenditure right away. Just before truthfully establish the High-Risk Business level, providers review the following: INDUSTRY TYPE Every business kind has its own level of risk. For example, a business that swipes cards is less likely to deception/fraud and chargebacks, and is, therefore, less dangerous, than a business that sells products on the web. The riskier the business, the more support documents and information required for review. MERCHANT HISTORY AND CARD ACCEPTANCE METHOD(S) Providers will need to know things like your business’s chargeback ratio (over 1 percent is a red flag), whether your business is or has been on the Merchant Terminated File and, if so, why. Most providers