6 Ways Restaurant Credit Card Processing Can Improve Customer Experience
Restaurants are dynamic, changing, and in high demand. Payment preferences often change with the value of ticket items. One survey found that 88% of diners pay for high-ticket, fancy dinners using credit. However, if a patron buys just an appetizer, they’ll opt for a debit card. Your restaurant’s credit card processing must meet the changing […] read more ⟩⟩
Contactless Payments on Phones, Steadily Growing
Contactless payment on phones is skyrocketing, and it’s a trend that was predicted when smartphones first started becoming popular. Tech experts agreed that making a payment with a phone would become a major payment method. And for users just transitioning from older “dumb phones,” this prediction seemed outlandish. Fast-forward to 2022, and 70% of customers […] read more ⟩⟩
Credit Card Processing Fees & Rates in 2022
Accepting credit cards gives customers more options when shopping with your business. However, as a merchant, it’s essential to understand the credit card processing fees and rates you’ll need to pay in 2022. Credit card processing fees can be a major expense for any business. Understanding how they work can help you avoid overpaying for […] read more ⟩⟩
About Credit Card Processing Fees
What fees should I see on my merchant statement? Your merchant statement has a lot of valuable information, and one of the most important sections is the Summary. A summary outlines: Total amount submitted Third-party transactions Chargebacks / reversals Adjustments Fees The fees shown reflect the cost you’ll pay to the credit card processor, and […] read more ⟩⟩
Explanation of Credit Card Processing Costs and Fees
Credit card processing varies between 1.5% and 3.5%, depending on numerous factors, including the issuer, payment processor, and more. Credit card issuer rates vary by brand Card networks have their own fees for credit and debit transactions. The top three networks and their average transaction costs are: American Express is the most expensive, with fees […] read more ⟩⟩
Understanding Nacha
Nacha was created to ensure that all ACH network requirements and rules are followed. They also provide clear guidance to all of the banks in their network so that they maintain strict executive and federal legislation compliance. What is Nacha? National Automated Clearinghouse Association (Nacha) is responsible for the ACH Network: Administration Development Governance Nacha […] read more ⟩⟩
How Common is Apple Pay and Why Should I Accept It?
Apple Pay is a common form of payment and is accepted by more than a million businesses across the U.S. More than 1 billion people use iPhones across the world, so it makes sense to accept Apple Pay. Doing so gives your customers more payment options and convenience. Accepting Apple Pay also allows for quick […] read more ⟩⟩
What You Need to Know About Opening a Merchant Account
If you want to accept credit or debit card payments, your business needs a merchant account. Opening a merchant account is a straightforward process, but there are still requirements that you’ll need to meet to be accepted. Here are some important things to know about opening a merchant account. You Will Need a Business Bank […] read more ⟩⟩
A-Z Explanation of Credit Card Transactions
How credit card processing works Credit card processing occurs in stages, and each stage plays an integral role in ensuring that not only can customers pay for goods but that merchants are also paid. Stage 1: Authorizing the Charge Merchants must swipe the buyer’s card or use the chip reader. During this time, the information […] read more ⟩⟩
US-Based Merchant Account
Understanding how merchant accounts work if you operate in the United States and have a business overseas requires you to understand the many different types of merchant accounts available. However, it’s also crucial to understand that specific industries, especially those with high chargeback rates, are prohibited from setting up a merchant account. Let’s take a […] read more ⟩⟩
Why eCommerce Plus Brick-And-Mortar Equals Good Business
With so many businesses closing up shop globally and around the U.S., many people believe that brick-and-mortar stores are slowly becoming relics of the past. After all, the following businesses have been found in malls and plazas for decades, but have either closed completely or drastically reduced their locations in the past few years: Kmart, […] read more ⟩⟩
