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How to Set Up a Merchant Account?

Setting up a merchant account is relatively easy and quick. The first thing you need to do is contact a reputable payment service provider, such as PayPal or Google Checkout, and request an account. Once the provider has set up your account (this usually happens within 24 hours), you can start accepting credit card payments immediately. However, setting up a merchant account is not a one-time process.

What Is a Payment Gateway?

A payment gateway is the business that authorizes credit card or service transactions for online retailers. Each day, more and more people are going on line to purchase items from their favorite merchants. A merchant's success depends on whether customers will buy the products they have on offer.

What Are Interchange Fees and How Are They Calculated?

The interchange fee is the fee that an issuer receives for authorizing, clearing and settling a purchase made with an eligible debit card. It also covers other services provided to the merchant by the issuer, such as fraud prevention. Interchange fees are typically expressed as a percentage of the transaction value in cents. Interchange fees rates vary between merchants based on several factors, including the type of business.

What is EMV Card Authentication?

EMV card authentication is the process of validating card credentials by means other than reading the embossed numbers and digits on an individual payment card. EMV cards are credit/debit cards that contain a computer chip for added security. In order to validate the authenticity of a payment card, an electronic chip reader can be used with which to read the card's embedded data, such as a unique account number, expiration date and security code.
How EMV Card Authentication Works?

Types of POS System

A point of sale system is a software or hardware used for tracking sales, monitoring inventory and orders. It is primarily designed to register transactions from a cash register, however it may also be used to track inventory and orders. Some systems are mobile which allow store owners to take their store around with them.

What Is Credit Card Processing and How It Works?

For many businesses, processing credit cards is key to running their business. If you are in the market for a credit card processor or simply looking to answer the question of “what is credit card processing?”, this article should help provide some clarity on this topic. Credit card processing refers to the act of taking payments via credit or debit cards.

What Is a Cross Border Fee for Credit Card Processing?

A Cross Border Fee for Credit Card Processing is a fee that some credit card processors charge to merchants who are accepting international transactions with cards issued outside of the United States. These fees can range from 2.5% up to 10% or more and they must be paid regardless of whether the transaction was pre-qualified before it's declined (meaning the card is good). Cross Border Fees for Credit Card Processing are charged in addition to interchange fees.
When Should Cross Border Fee for Credit Card Processing Be Charged?

What is Facebook Pay?

Facebook is making a big push into the mobile payments space. It wants you to be able to use your Facebook ID on any website that has an "Like" or "Share" button, allowing you to login and pay with one click. But how will this affect you? Here's everything you need to know about Facebook Pay.

What are the Reasons the American Express Card is Not Accepted Everywhere?

We have heard a lot of complaints from individuals who were surprised to learn that their American Express cards are not accepted everywhere. Many consumers who used to carry American Express cards in the past, may no longer do so after they discovered cashiers turning down their credit card or retailers apologizing for why they cannot accept the card. Some even say that they've had to switch to other cards because of this problem.
So, the question is: why isn't the American Express card accepted everywhere? There are a few reasons for this.


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