What are Cross-Border Fees in Credit Card Payments?
Cross-border commerce has become a cornerstone of payments. As businesses expand to international markets and consumers continue with online shopping, cross-border credit card payments have emerged as a major element of the financial landscape. This article goes into cross-border credit card payments, exploring how they work, the challenges they present, fees, and strategies for optimizing […]
Charging Customers for Credit Card Fees (aka Surcharging)
Credit card surcharging, or the practice of passing on credit card transaction fees to customers, has become a pivotal point of discussion for businesses seeking to manage their financial well-being in an evolving marketplace. We will embark on a comprehensive exploration of the surcharging landscape. From the reasons behind its adoption to the ethical and […]
Visa Debit Cards in Circulation, Merchant Liability, and International Transactions
Offering diverse payment options is essential for businesses aiming to stay competitive and meet the needs of customers. One payment method that has gained significant popularity among consumers and merchants alike is Visa Debit. This article explores the number of Visa Debit cards in circulation, Visa Debit merchant liability, online transactions, and international transactions. What […]
Get a Merchant Account in Canada
Merchant accounts offer businesses a range of advantages. They enable businesses to accept credit and debit card payments, accommodating customers who prefer cashless transactions. This convenience can lead to increased sales as customers are more likely to make larger and more frequent purchases. By facilitating credit card payments, businesses also project professionalism and credibility, crucial […]
Credit Card Fraud in 2023
In an era dominated by technological advancements and online transactions, credit card fraud has emerged as a significant threat to individuals and businesses alike. As fraudsters become more sophisticated in their tactics, understanding the latest statistics and adopting robust security measures is crucial. This comprehensive article delves into the alarming rise of credit card fraud, […]
What is MOTO in Payment Processing?
MOTO payments refer to credit card transactions where customers provide their payment details via mail, telephone, or other non-face-to-face methods to complete a purchase. Credit card information is typically passed in a voice conversation and the merchant enters the information into a payment terminal. MOTO payments have been around for decades, originally serving as an […]
Dynamic Currency Conversion (DCC) in Credit Card Processing
When traveling abroad, using credit has become a convenient and widely accepted method of payment for travelers. With the increasing global connectivity, merchants and payment processors have introduced a service known as Dynamic Currency Conversion (DCC) to cater to the needs of international travelers. DCC offers the option to make purchases in the cardholder’s home currency […]
Multi-MID Merchant Accounts
Businesses that accept credit cards are continuously seeking ways to streamline their operations and maximize efficiency. That’s what you do to build a company. One strategy is using multi-MID merchant accounts. First off, a MID is a merchant ID, abbreviated as MID, which is a 15-digit identification number assigned to your merchant account by a […]
What is a Merchant ID (MID)?
In today’s digital age, electronic payment methods have become increasingly prevalent in our daily lives. Whether it’s swiping a credit card, making an online purchase, or tapping a smartphone at a checkout terminal, these transactions involve a complex network of processes working behind the scenes. One crucial element that facilitates smooth and secure payment processing […]
How a Merchant Account Works in Credit Card Processing
Digital payments and credit card use is growing. This means more merchant accounts are being opened. A merchant account is a type of bank account that allows businesses to accept credit and debit card payments. In this article, we’ll take a closer look at how a merchant account works and why it’s essential for businesses. […]