If you’re a business that accepts card payments, especially online, you may have encountered the term ‘high-risk merchant account.’ This can be a nerve-wracking term to hear, especially if it applies to you and your finances. So, what is a high-risk merchant account, and how does being labelled as one impact your payment processing fees? In this article, we take a look.   What is a high-risk merchant account?   A high-risk merchant account is what…

For today’s merchants, offering quick and accessible payment options is a must. For physical locations, that often means keeping up to date with the latest quality terminal technology.   One of the tougher decisions can be whether to rent those current terminals from your provider, or purchase them outright. In this article, we examine that question in depth.   A clear answer is hard to find.   Researching whether to buy or rent can leave you with as…

If your business accepts card payments, you’re potentially vulnerable to chargeback fraud. Also called ‘friendly fraud’ – a less than accurate moniker – chargeback fraud is a growing problem for businesses, especially in the age of online shopping.   In this article, we look at chargeback fraud; what it is, why it happens, and how to protect your business against fraudsters. What is chargeback fraud?   Chargeback fraud happens when a consumer makes a purchase – usually…

If you accept any kind of credit card payment, you may have heard of surcharging. It’s the practice of adding an additional charge to a customer’s purchase to cover the fees a payment processor requires for processing credit cards. While it may seem like a win for you, the merchant, it’s not a completely problem-free practice. In this article, we take a look at this practice. Should your business consider it? What are the pros…

As businesses are racking up debt and supply chain issues are increasing material expenses, cutting costs is more important than ever. With many businesses offering online shopping as an alternative to in-store, you might find your payment processing environment has changed or become more expensive.   If this sounds like your business, here are five tips for reducing your credit card processing fees, and making the most of your revenue.   1. Keep an eye on your…

Just like everything else, merchant services have changed over the course of the pandemic. Your business may be trying to navigate contactless payment options or accepting orders over ecommerce platforms, like Instagram. No matter the situation, it’s important that you protect your business against the risks associated with online payments, so you can focus on optimizing your use of this developing technology.   Social distancing has really changed the ecommerce landscape. Some businesses find themselves relying…

A major trend that has stemmed from the pandemic is contactless service. From signing a document to accepting a package, people do not want to touch anything that has been touched by another person. In-store shopping is an area that is harder to make contactless, but using a mobile payment system (MPOS) lets shoppers checkout easier and safer. A mobile payment is a payment made through a portable electronic device, like a smartphone or tablet.…