A First Data contract can be hard to cancel right away. The main problem is that it has an early termination fee (ETF), which could get pretty hefty if you cancel at the wrong time. To pay less of the ETF, you might have to wait a few months. But there are other obstacles as well. In this article, we’ll explain how the cancellation process typically works. You’ll still have to read some of that contract, but we’ll help you find the relevant parts more quickly for quick lookups.
If you’ve ever paid employees or received a paycheck through electronic deposit, then you’ve used the ACH payment system. Same with using the “pay bills” feature from your bank account. Whether you are aware of it or not, you use ACH to make payments every day. In fact, even when a payment is not called an ACH transaction, a portion of that process might still pass through the ACH network. This is because ACH payments form the backbone of money transfer between US banks.
May 14, 2020 Filed under: ACH and Check Processing Read More
Friendly fraud occurs in connection with a chargeback claim. How can fraud be perpetrated through chargebacks, and is there anything you, the merchant, can do to prevent this type of fraud? Read on to find out.
May 7, 2020 Filed under: Credit Card Processing Read More
Chargebacks happen to every merchant. In fact, you probably won’t be able to eliminate all chargebacks as long as you keep accepting credit cards. The best you can do is to contain them and reduce them to a small number. What is left is just a part of the cost of doing business. To find out more about what chargebacks are and how to best deal with them, read on to find out.
Financing allows those who are wavering on a purchase because of the price to buy from you right away and then pay for the goods/services in installments in the future. This way, you don’t lose a sale to sticker shock. This is called customer financing or, sometimes, consumer financing. Broadly speaking, you can provide customer financing yourself, or you can use a third-party financing specialist. As to how to do either, along with their pluses and minuses, read on to find out.
If you’re ever curious about what card networks, card associations, or card brands are, and what these entities actually do (other than make you pay fees of various sorts), you’re at the right place. We’ll explain what card networks are, give you a little history about each, and provide a general framework for understanding how they fit into the business of credit card processing.
Zelle is a money transfer service meant to compete with Venmo and PayPal. Now even businesses can use Zelle to move money around and make payments — here’s what you need to know about using Zelle for business.
Mar 9, 2020 Filed under: ACH and Check Processing Read More
If you accept credit cards in person, you need a credit card machine. Learn more about the types of terminals available and how you can go about finding the right one for your business.
Business owners need to be proactive in managing their credit card processing accounts. Learn what risk factors processors look for to keep your merchant account safe and what to do if you do run into a funding hold or account termination.
Mar 27, 2020 Filed under: Credit Card Processing Read More
While mobile payment apps aren’t everywhere (yet), small business owners should be aware of what they are & how to accept mobile payments online and in-person.