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Does Your Merchant Account Have An Early Termination Fee?

We’ve all done it–scrolled to the bottom of a userโ€™s agreement and clicked I Agree or signed a paper contract without looking through the many pages of small print. We know itโ€™s wrong, but we’re busy and the print is so small…and we are thankfully often protected by consumer protection laws that work quietly in […]

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Apr 7, 2020 Filed under: Credit Card Processing 16

What Is A Merchant ID?

Some credit card industry terms can seem innocuous or self-evident but are actually quite specific to how payment processing works. One such term is the merchant ID, which is often abbreviated as MID. It is also sometimes just called a merchant number. Not every merchant who accepts credit cards has an MID, but for those […]

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Mar 27, 2020 Filed under: Credit Card Processing, Small Business 4

What Is An Issuing Bank?

If you have a Visa or Mastercard, then you already have an intuitive understanding of what an issuing bank is. It is the bank whose name is on the card, alongside the Visa or Mastercard brand. It is the bank where you applied for the card, the bank that sends you a bill each month, […]

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Jul 22, 2019 Filed under: Credit Card Processing, Small Business 0

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