Merchant Account Reviews

What is a Merchant Account?

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A merchant account is an agreement between you and the provider, giving you the ability to accept credit cards. They are ultimately liable for every dollar that you are funded. In exchange for the liability and service, they charge fees to cover their cost.

The Nuts & Bolts:
  1. The account - to accept credit cards, a business or merchant must apply for an account through a merchant provider, such as Approval depends on a number of factors, including but not limited to:

    1. Owner or officer's personal credit score
    2. Method of acceptance (swiped or keyed)
    3. Products or services sold
    4. Requested monthly volume and average ticket
    5. Business longevity
    6. Business financials
    7. Return & refund policies
    8. Chargeback history (if currently processing)

  2. Processing Fees - there is a cost associated when you
  3. Payment Systems - to process the charges, you must have some type of service or product to be able to charge the credit card. Retail merchants generally use a credit card machine. Internet and MOTO merchants will use an Internet gateway service. Wireless or mobile merchants will use a touch tone service or a wireless credit card machine.

Credit Card Processing Articles
  1. Why Should you Accept Credit Cards?
  2. The Different Types of Merchant Accounts
  3. How to Avoid Credit Card Processing Downgrades
  4. Merchant Account Responsibilities
  5. The Different Types of Credit Card Machines
  6. What is a Merchant Account?
  7. Why Avoid Credit Card Terminal Leases?
  8. 3 Ways to Save Money on Credit Card Processing
  9. Credit Card Processing Checklist
  10. Pros & Cons of Credit Card Processing
  11. What to Expect in Your Monthly Statement
  12. The History of Credit Card Processing
  13. Recent History & Future of Credit Card Processing
  14. The Different Organizations of Merchant Services
  15. The Glory Details of Disputes, Retrievals & Chargebacks
  16. Understand All the Risk with Merchant Services
  17. Factors & Guidelines to Merchant Service Underwriting
  18. The Life Cycle of a Credit Card Transaction

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