Having a point of sale system (POS) can greatly benefit your business in many ways. Many of them will work with external hardware allowing for an increase in the versatility and mobility of collecting payments. What is a POS? A POS is where the merchant collects payments from a customer. In addition to collecting your…
Merchant Account A merchant account, such as Swipe4Free or Merchant Industry, is an account that is created in your business’ name to a merchant bank that allows the merchant to accept credit and debit card payments. The bank takes these payments and then disperses them to the merchant after a preset amount of time. These…
A chargeback occurs when a customer contacts their payment provider and claims that the payment made was illegitimate. This can lead to the bank reversing the payment, and you the merchant getting stuck with the loss. Chargebacks are often one of the largest headaches for merchants who are simply trying to run their business. They…
While they may seem like the same thing; cash discounts, surcharges, and convenience fees are 3 very different options for merchants. Not all 3 can be used in every situation, and they all have different guidelines on how they can be implemented. Cash Discounting A cash discount is a program that allows the merchant to…
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