What is a Merchant Account? First, let’s clarify what a merchant is. A merchant is a businessperson who trades products/services. In payment processing, a merchant is a legal entity that opts to accept payments online. A merchant account is a type of bank account used for storing funds from card transactions until those transactions are settled completely. Thereafter, the funds are transferred to […]
Having a secure way to accept payments is a necessity for any online business. And when it comes to taking credit card payments, you have two main options. The option to do is to open a merchant account with a bank and the second is to use the payment facilitator model (PayFac). Technology has fundamentally changed how businesses, acquiring banks, […]
Artificial Intelligence (AI) is no longer the future, but it’s already the present. For eg: AI is the technology that powers the verbal commands you give Siri. It operates driverless cars and can beat you in online games. It may sound intrusive, or even creepy, but companies are investing in AI to learn your behaviors – and monetize those behaviors. Picture customers […]
There’s always a certain level when you’re running a business. That’s just the name of the game. But when you accept credit card payments from your customers, you’re assuming quite a bit more. Now, you run the risk of fraudulent charges, returns, cancellations, identity theft, disputes, etc. That’s why it’s crucial to meet the current standards and regulations for PCI […]
Most small business owners will never hear the term “high-risk merchant account” until their businesses have been identified as such. It does seem a bit mysterious at first. In some cases, it may feel like an unfair judgment against your business, the service you provide, the products you offer, or you yourself. That isn’t the case. From the perspective of […]
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