Best Merchant Account Credit Card Services in 2026
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iPayDNA is a payment processing company that stands for more than just processing payments; they also want to excel in the overall way in which they do business, and aren’t afraid to try out new technologies and payment methods. Andy Tan and the rest of the management team of iPayDNA care a lot about their employees and growing their business further with the full support from their team. The fact that they decided to do this interview with us with the whole team is the perfect proof that this is a company with nothing but teamplayers. (more…)
Non-profits that are qualified by the government as charities and not-for-profit agencies, may be free from taxes but they still have to be concerned with money. And when it comes to processing money, whether it’s for donations or for something else, non-profits still need to keep up with the latest technologies.
Dharma Merchant Services
Dharma Merchant Services is a company that works personally with business owners, whether for profit or non-profit, ensuring that they have all of the tools necessary to accept credit card and other payments. Additionally, since non-profits hold a unique place, lower processing fees and other benefits are available. Given that Dharma Merchant Services is a business that’s dedicated to being ethical and green, those sorts of goals fit admirably with non-profits looking for a principled partner. (more…)
Running an ebusiness means a lot of work, little free time and many different problems to cope with. Quite often online payments turn out to be one of most difficult issues for merchants. And this cannot be avoided if you want to sell anything – allowing to make a payment is obviously a must. Additionally, merchants may get confused when choosing a payment processor, because many tend to present the subject differently. This is a result of the subject’s complicity – payment processors want to simplify it for merchants, but they usually do this differently.
Apart from technical issues, features and other perks, the most important thing is to understand two most popular payment models from the business point of view. If you want to accept online payments, credit and debits cards will surely be an important part of it. And in order to be able to accept such payments, a merchant account is always needed. (more…)
A merchant account service provides their clients with all of the tools and technologies for them to accept credit card and electronic check payments. They usually provide all of the equipment for free, when their clients set up their accounts. They then charge a transaction fee that is usually a small percentage of the sales. This is variable depending on which the provider is, but it is usually in the range of 1% to 2%. This commission may be levied in conjunction with a set fee that is charged for every transaction. (more…)
In today’s increasingly cash-free world accepting credit cards and debit cards is no longer a viable option for most businesses. If a merchant doesn’t accept credit cards they risk turning away a large portion of their potential market. Identifying who provides the best merchant account services has become a critical requirement in providing the merchant the widest range of payment options for their customers.
Merchant account reviews are not as common as reviews for restaurants or movies, merchants tend to enter into multi-year processing deals and switching costs can be high so side by side comparisons can be few and far between. But when evaluating a company such as Merchant Warehouse be aware that there are two primary methods in which a processor derives the bulk of their income. First there are fees, some of which are one time at setup and some of which are recurring on a per transaction basis or as monthly statement fees. (more…)
Deciphering the various types of merchant account services can be very confusing. Much of the sale and servicing of merchant accounts is unregulated, making confusion a valuable tool of an unscrupulous salesperson. Unless a merchant understands how banks classify merchant accounts, there can appear to be a confusing maze of merchant account types. Banks classify merchants and their accounts by the process used to harvest card data. The bank also considers the type of merchant and processes for transaction completion. This article serves to explain bank defined merchant account classifications.
Banks recognize two methods to harvest card data, Swiped and Keyed. These two methods are sub-classified by business type and transaction completion method. (more…)
Over the past couple of decades, the amount of transactions that are completed using credit cards has increased dramatically. With online shopping continuing to outpace traditional forms of shopping, the use of credit cards is likely to only continue to rise. While these forms of cards provide great conveniences to shoppers, and ultimately result in increased sales for businesses and retailers, many businesses are struggling due to the high credit card processing charges that come with a merchant account transaction.
Who’s Being Charged for What?
Whenever a consumer uses a credit card to make a purchase, they will be charged for the exact dollar amount of the transaction, plus any applicable sales taxes that are paid. The business, on the other hand, will have to pay credit-processing fees to the credit card company. The fees that are paid are generally around two percent of the sale price, plus a low flat fee of around 15 cents per transaction. While this may seem like a nominal amount, these fees can add up to large sums of money over time.
Tip: Shop Around
While these commissions paid on merchant account transactions are inevitable, there are ways that a business can control how much they have to pay on them. One of the best ways to save money on the credit processing fees paid would be to shop around for rates. Most businesses end up using the first offer that they are given without considering whether the rate is too high. By shopping around with various credit card processing companies like Merchant Warehouse and iTransact, you will receive a number of different quotes. These quotes can then be used to negotiate against one another, which could help you receive an even lower rate.
Another tip to for not paying too much credit processing fees would be to attempt to reduce the amount of credit card transactions that you receive. While offering credit card purchases to consumers is a great convenience, there are ways that you could entice consumers to pay with cash or debit cards instead. One way to do this would be to offer some form of a rewards program for cash purchases. If you provide future discounts to cash-paying consumers, you will not only avoid some credit card processing fees, but you will help ensure that you will receive a repeat customer in the future.
Merchant account services are a wonderful way of building your business. By accepting credit cards, you open up a whole new path for customers to buy your product or services. However, costs from merchant services can run high, therefore diminishing the profits from your sales. There are ways to sign up for an array of benefits from your merchant service account, and the cost can be free or nominal. (more…)
A merchant account allows a businessperson to accept payment for goods or services by credit cards. Three types account are available for the merchant to establish. For businesses that do not charge on the spot such as a restaurant or department store a “Retail merchant” account will probably be started. A “MOTO” account is where consumers will buy a product over the phone and the merchant will enter the credit card information manually into a fax or computer. The final account type is the “Internet” account whereby a consumer will buy a service usually computer related and enter his credit card information by himself. Although merchant accounts are very convenient to the merchant as well as the provider there are three plagues which may occasionally occur. (more…)
‘Chargeback‘ is a financial term, referring to the process of returning funds to a consumer, reversing an outgoing transfer from their credit or debit card – effectively, a refund. They usually relate to transactions which are suspected to be fraudulent or unfair: if a consumer purchases goods or services using a credit or debit card and the seller fails to comply with the terms specified, the consumer may request one from their credit or debit card issuer.
Chargebacks and Merchant Accounts
Many businesses and retailers choose to set up a merchant account with an online merchant account service, which enables them to accept credit and debit card payments for online transactions. All major credit cards can be used. Liability for chargebacks falls upon the credit card issuer, which means that all merchant service providers are closely examined to ensure that they will not carry out fraudulent activity, which would be potentially costly. Merchant account service providers are expected to respond promptly to requests for chargebacks. (more…)
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