Everything You Need to Know About Interchange Fees
What are Interchange Fees? Interchange fees are what credit card issuers (Visa, Mastercard, American Express) charge for processing cards. The fees are paid to the card-issuing bank to cover handling costs, fraud and bad debt costs involved in approving a payment. When a merchant takes card transactions, the merchant’s bank will charge a percentage-based […]
Tap into the Power of Virtual Terminals
1. Understanding the expanding options for online payments The diversity of payments encourages consistent customer relationship building, placing accessibility above all. While a hardware POS system can streamline the in-store experience, it is currently understood that we cannot completely predict the current pandemic climate for businesses. The solution to this is utilising the mobility of […]
Next Day Funding: A Powerful Tool in the Merchant’s Arsenal
Picture the following scenario: a hospitality and catering merchant anticipates a busy end of the week, typical of their usual business schedule. They’ve achieved a successful revenue stream that has an increased profit margin. The issue this merchant encounters is that they may not receive an increased profit margin into their account until the funds […]
Reaching Scalability Efficiently: The SME Guide
Expectations for SMEs Walking Into 2022 SMEs ultimately want scalability and success within their respective market, but there is more to consider than a simple upwards trajectory. Within over-saturated markets, businesses can find themselves stumbling in the first hurdle of attempted growth. It becomes imperative that merchants maintain a competitive edge within their industry, an […]
Understanding E-wallets for Seamless Transactions
With China being the pinnacle of E-wallets and Jeff Bezos releasing Amazon-go (which is a ‘walk out’ shop), the rest of the world is slowly but surely following their footsteps toward a ‘wallet-less ‘society. Europe is a predominant location adapting to this change. The primary forms of digital wallets (or E-wallet) you have most likely […]
Cashless Societies: Turn Rapid Changes into Opportunities
Cash is king, or so the saying goes, however, it seems like a royal coup in the form of a cashless society is taking place. The rise of the cashless society has been on the cards for some time, quite literally. Debit and Credit card payments have experienced a considerable boost precipitated by the pandemic, […]
How To Reduce Financial Risk For Your Business
It’s important for businesses to ensure they understand financial risk and all the potential merchant fees that could be unnecessarily eating away profits. A common complication is that most of these fees can be considered convoluted, simply veiled as beneficial to the merchant with no specification. We’ve developed some important insights into the most common […]
Understanding Your Customer’s Payment Security
As a business, you’re likely to engage with the world of payment security fleetingly. Managing your PCI Compliance may be the closest you come as a merchant to looking at payment security. Many of the systems protecting businesses and customers are so seamless that they require little thought. However, understanding payment security is increasingly important if […]
Contactless Payments Explained: A Look into NFC
There is no beating around the bush, convenience is king when it comes to payments. Currently, contactless payments are set to reach $2.5 trillion in 2021; a noticeable mark-up from $1.7 trillion in 2020. If you are currently a merchant using contactless NFC terminals, then you need to become more comfortable around this technology if any issues occur. We’ve […]
What You Need To Know About Chargebacks, And How They Affect Your Business
What is a chargeback? In simple terms, a chargeback is a reversal of a card transaction – a refund. However, a chargeback is different from a refund in one crucial way. A refund represents a dialogue between the consumer and the merchant, whereby the consumer asks the merchant for their money back; a chargeback is […]
