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...
How to Secure Your Payment Processing Systems
In today's digital age, payment processing systems have become an integral part of businesses across various industries. With the rise of online transactions and the increasing threat of cybercrime, it is crucial for businesses to prioritize the security of their payment processing systems. This comprehensive guide will provide you with...