What is Secure Remote Commerce (SRC)? New credit card technology has made it tougher for criminals to use fraudulent credit cards at brick-in-mortar POS stations. As a result, scammers are turning to online fraud and theft with stolen credit card information. With...
How Recurring Payments Affect Credit Card Processing Rates Setting up recurring payments has become a popular and profitable way for businesses across multiple industries to generate ongoing revenue. Recurring payments are often seen as a win-win for merchants and...
What is a Qualified Processing Rate? Qualified processing rates refer to the merchant fees that a business pays for a specific type of credit card processing, known as tiered or bundled pricing. Depending on the merchant account agreement and fee structure, the...
What is the Cheapest Way to Accept Credit Card Payments? Accepting card payments can be costly for many businesses. With average credit card processing fees ranging from 1.70% to 2.50% per transaction, card payments can take tens or even hundreds of thousands from...
10 Reasons Why Merchant Account Applications Get Denied Applying for a merchant account is exciting, as it’s a crucial step for accepting payments and processing credit cards. But some merchant account applications get rejected, which can be frustrating and...
Types of Payment Gateways Explained and Compared Payment gateways connect businesses with payment processors to facilitate online transactions. This is a necessary payment technology for ecommerce websites, as it’s required to accept credit cards, debit cards, and...
What Are Processing Fees? A Comprehensive Guide Understanding processing fees is crucial for businesses that accept card payments—as these fees have a direct impact on your bottom line. This in-depth guide aims to provide business owners with a thorough...
What is a Merchant Services Provider? A merchant service provider (MSP) offers the hardware, software, and infrastructure that businesses need to accept credit cards, debit cards, and electronic payment transactions. They also store payment information, keep...
What is a Payment Service Provider (PSP)? If you’re reading this right now, there’s a good chance you’re evaluating payment services and payment processing solutions for your business. Understanding key terms in the credit card processing space is crucial, and...
What is a Virtual Terminal? A virtual terminal is a web-based interface that allows merchants to process credit card payments. It’s a way for businesses to accept credit cards without a physical credit card processor, hence the name “virtual.” Virtual terminals...
