This pricing model works by adding a constant margin onto the underlying interchange-rate. It’s widely considered the fairest model in the industry.
Learn About Merchant Services
Merchant Services is an industry most people aren’t too familiar with. Read all of the ins and outs below.
A merchant account is a business account with a bank, that allows a business or non-profit organization to accept credit card payments in exchange for their product or service.
A payment gateway is the online-equivalent of a credit card terminal. The payment gateways’ job is to encrypt, and then securely authorize a credit card transaction. Payment gateways are fundamentally required when accepting a credit card transaction online, because they’re responsible for storing sensitive credit card data. Sometimes these gateways are referred to as merchant …
Voiding “cancels” a sale, whereas a refund is a separate, offsetting negative sale. If possible, it’s always better to void than refund.
Chip+PIN is the “strongest” encryption method since it’s much harder to steal a PIN than fake a signature. Currently, most US banks issue Chip+Signature cards. As time moves on, they’ll migrate towards Chip+PIN.
Factoring is accepting credit card payments on behalf of another business. It’s prohibited, since factoring can hide money laundering and illegal activities
Address Verification is a very important step in any card-not-present sale. Whenever you accept a card without physically seeing the card, you inherently run a much higher risk of accepting a fraudulent card. As a merchant, you want to do everything in your power to reduce that risk. There are no guarantees, but using the …
If your business takes recurring credit card billing, then Dharma can make those transactions as safe and as simple as possible. Set it, and forget it! Click through to read more!
Dharma makes the transition simple for your business with these tips on accepting EMV chip cards and it’s benefits to you as a business and for your customers. Click through to read more!
As a lodging/hotel/auto-rental merchant, you may require extended authorizations or long-term stays that you charge to a card. Learn how that works!