For U.S. payments businesses, it is very crucial to have a good rapport with banks. However, some merchants are tagged as high-risk due to factors such as rule non-compliance, financial instability, or fraudulent activities. The Terminated Merchant File (TMF) and MATCH (Member Alert to Control High-Risk Merchants) List serve here....
Net 60 Payment Terms: What They Are and How They Help Business Credit
Payment terms are core to any business deal because they are crucial for cash flow and financial partnering. Before the time to invoice any client arrives, it is very important for a business owner to understand what Net 60 means, the general payment period. Mastering this financial lingo gives you...
FANF Fee – Visa Fixed Acquirer Network Fee
The Visa Fixed Acquirer Network Fee (FANF) is a mandatory charge for businesses accepting Visa cards. Introduced in April 2012, FANF helps fund Visa’s network maintenance. The fee varies based on business type, transaction method (card-present vs. card-not-present), number of locations, and monthly Visa sales volume. While small businesses with...
What is a Statement Descriptor
In the world of finance and business, statement descriptors play a crucial role in ensuring smooth transactions and providing clarity to customers. A descriptor is a brief description that appears on a customer's bank statement, credit card statement, or any other financial statement. It helps customers identify the source of...
Common Payment Processing Issues and How to Fix Them
In today’s fast-paced world of commerce, businesses rely heavily on efficient payment processing systems to handle customer transactions. However, even the most reliable systems can encounter issues that disrupt payment flow, leading to delays, lost sales, or frustrated customers. As a business owner, it's crucial to be prepared for these...
Payment Processing for High-Risk Businesses
In the world of business, having a reliable payment processing system is crucial. However, not all businesses are treated equally when it comes to payment processing. High-risk businesses often face unique challenges, including higher fees, stricter contract terms, and difficulty finding a suitable payment processor. For these businesses, navigating the...
The Future of Payment Processing: What to Expect
Payment processing is an essential aspect of any business transaction. It involves the movement of funds from a customer's account to a merchant's account in exchange for goods or services. Over the years, payment processing has evolved significantly, driven by advancements in technology and changing consumer preferences. In this article,...
The Benefits of Integrated Payment Processing Solutions
In today's digital age, businesses of all sizes are constantly seeking ways to streamline their operations and improve efficiency. One area that often presents challenges is payment processing. Traditional payment methods can be time-consuming, prone to errors, and lack the necessary security measures. This is where integrated payment processing solutions...
Payment Processing for Subscription-Based Businesses
Subscription-based businesses have become increasingly popular in recent years, offering consumers the convenience of regular access to products or services without the hassle of repurchasing each time. However, managing payments for these businesses can be complex and challenging. This comprehensive guide will explore the importance of payment processing for subscription-based...
A Detailed Guide To EBT Payment Processing
In today's digital age, electronic payment methods have become increasingly popular, offering convenience and efficiency for both consumers and businesses. One such payment method is Electronic Benefit Transfer (EBT), which allows eligible individuals to access government benefits through a plastic card. In this comprehensive guide, we will delve into the...