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Complete Guide to Merchant ID (MID) Number Lookup Payment processing is not just about your usual payment transfers. It also includes other transactions such as refunds, rebills, and chargebacks between you, your acquiring and issuing bank, and your customers. In every transaction that occurs in your account, your merchant ID number is used. It is…
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ACH Payment Guide
ACH Payment Guide You might not know it, but ACH payments have almost certainly served you somewhere, sometime in your everyday life. When your hard-earned salary has been automatically deposited to your bank account on payday, that’s the work of an ACH. Conceptualized in the late 1960s in the United States, ACH, or Automated Clearing…
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What is a Chargeback?
Credit Card and Bank Chargebacks Explained: Why They Happen and How You Can Fight Back A chargeback is defined as the act of reversing a payment and returning funds to a customer. At first glance, a credit card chargeback may seem like traditional refund, but there is one crucial difference. Rather than reaching out to…
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Difference Between Acquiring Banks and Issuing Banks
Difference between Acquiring Banks and Issuing Banks What is an acquiring bank, and what is its role in the eCommerce payment process? Furthermore, you might also want to know more about its counterpart, the issuing bank. So, read on to learn more about the biggest players in eCommerce, including the biggest card networks Visa, MasterCard,…
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EMV Chip Card
Frequently Asked Questions on EMV Chip Cards EMV is a form of standard smart payment which initially started in the late 1960s to 1970s. In the latest years, it has replaced the old chip and pin credit cards. The rising number of unauthorized transactions, card theft, and fraud have led to the wide use of…
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What is an eCheck?
What is an eCheck? Electronic check, or echecks, are one of the best conveniences of modern-day banking. Aside from doing away with the wasteful and traditional check processing, using an e check is faster and made even more secure with top-of-the line risk management systems in place. Did you know that the majority in the…
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Apply for an Online Pharmacy Merchant Account
The Complete Guide to Online Pharmacy Accounts: How Does It Work? The pharmaceutical industry has adapted to the latest tech innovations in recent years. These days, patients can purchase their medication without visiting stores physically. The birth of online pharmacies has created flourished by providing convenience for customers. Merchants have experienced tremendous demand for pharma…
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Firearms Friendly Credit Card Processing
Firearms Friendly Credit Card Processing Services Find the right firearms merchant account provider and payment processor in this guide. Read on and connect to a firearms friendly credit card processing service in no time A merchant account for firearms dealers can be hard to get, given their high-risk status; But once you find one, that…
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Top 15 High Risk Merchant Industries
High risk merchants looking for a payment processor need to know the factors that tag them as ‘high-risk’. The next step is to look for the right payment service provider that will easily approve them for a high risk merchant account. Here are the 15 largest high risk industries that need payment processing. Each industry…
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eBay Merchant Account Services
eBay is no doubt the world’s pioneer in online sales and it remains to this day as one of the forefront companies in the online sales business circle. As a multi-billion dollar company with operations in over 30 countries, eBay specializes in both business to consumer sales as well as consumer to consumer sales, becoming…
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Tips to Finding the Best Hospitality Merchant Account
For businesses like hotels, motels and bed & breakfasts, the need for accepting credit card payments from customers is essential in a business that provides a large amount of revenue and employment to the economy. However, it is a challenge to find a good payment processing solution that can provide quality hospitality merchant account services,…
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How to Choose the Best Merchant Services Company
How to Choose the Best Merchant Services Company The first question asked by a merchant is usually - what are your rates? As a former e-commerce business owner, I can understand their concern. And while fees are a very important aspect of the decision-making process, there are other points that should be taken into consideration.…
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