6 Features to Look for in Your Restaurant Payment System
According to a Fiserv consumer trends study last year, 75% of customers expect to be able to pay with their credit or debit card at a restaurant. That means having a restaurant Point-of-Sale (POS) system is non-negotiable at this point. But when net profit margins for restaurants average just 5% nationwide, owners need to consider […] read more ⟩⟩
How Do I Get a High Risk Merchant Account? A Guide to Choosing the Right Provider and Submitting a Strong Application
For merchants who are considered high risk for one reason or another, it can be hard to find a payment processor willing to partner with you. Even third-party payment service providers like Square or Stripe that boast easy and fast applications are liable to freeze or completely close your account with little or no notice. […] read more ⟩⟩
What Is a High Risk Merchant? How to Tell If a Payment Processor Will See Your Business as High Risk and What You Can Do About It
In the simplest terms, a high risk merchant is one that’s more prone to chargebacks, fraud, or other issues that could put a payment processor at risk. The definition has little to do with whether or not you, as a merchant, have an actual history of fraud or other problems. Instead, payment processors automatically categorize […] read more ⟩⟩
Tips for Better Credit Card Fraud Merchant Protection
A 2019 study found that 30% of small businesses have been victims of fraud, with the average fraud-related losses totaling $150,000 per small business. While you might think scammers would prefer to target bigger fish, small businesses are usually preferred because they’re more likely to lack the oversight and internal controls needed to prevent fraud. […] read more ⟩⟩
Align Your 2023 Business Goals by Implementing a Cash Discount Program
If you’re planning to start a business in 2023 or you’re eager to scale one you’ve already started, it’s time to think seriously about implementing a cash discount program. It’s an easy way to eliminate card processing fees and gain more control of your business’s budget—but there are some compliance issues to take into consideration. […] read more ⟩⟩
How to Build Business Credit with EIN in 5 Steps
As a new or growing business, one of the most important things you will need is a way to accept card payments from your customers. According to the 2021 Diary of Consumer Payment Choice, 57% of all payments in the United States were made with either a credit or debit card. A merchant account, like […] read more ⟩⟩
4 Reasons Merchants Don’t Like Square Customer Service — And How to Pick the Right Square Alternative
Of the more than 5,000 complaints about Square filed with the Better Business Bureau in the past three years, over 3,600 were in regard to problems with Square customer service. Here are some of the most common reasons cited by merchants and a few tips for picking a Square alternative that won’t land you right […] read more ⟩⟩
Is Your Merchant Account Holding Funds? Here’s Why That Happens and What You Can Do
A merchant account hold, or funds hold, is when a payment processor holds all processed funds in security instead of depositing that money into your account. There are a few reasons the processor might do this, but it can be a huge hassle for merchants and one they often aren’t aware could occur until it’s […] read more ⟩⟩
5 Ways Merchants Can Maximize Sales for Black Friday 2022
Black Friday is just around the corner and merchants everywhere are prepping to make the most of the biggest shopping day of the year. While more transactions mean more revenue, it also means more fees. That has many merchants wondering how they can make the most of Black Friday 2022 while keeping transaction costs down. […] read more ⟩⟩
Is National Processing a Bank?
Payment Facilitators vs. ISOs Payment processing has always been an essential component of running a business. In the modern world, companies rely on payment processors to process credit and debit card payments. Payment facilitators (Payfacs) and independent sales organizations (ISOs) sit between the merchant and the payment processor. While they are similar in nature, they […] read more ⟩⟩
What Do I Get With a Merchant Account?
Do You Need a Merchant Account? If you’re just starting or growing your business, you may be wondering whether you need a merchant account. If you sell products or services, then the answer will likely be “yes.” According to the Federal Reserve Bank of Atlanta, credit card payments accounted for 27% of transactions in 2020. […] read more ⟩⟩
