MERCHANT ACCOUNTS EXPLAINED
One tenth of the World's ever growing internet population shops online, representing a staggering 627
million people. And when it comes to payments...
Mon, 9 May, 2016 at 6:21 PM
Card Present Transactions are face-to-face transactions where your customer and their card are with you at the point of sale.
Chip and PIN
C...
Mon, 9 May, 2016 at 6:23 PM
Industry Terms:
ACH
Automated Clearing House is a banking system used to automatically deduct funds from a bank account using data prov...
Mon, 9 May, 2016 at 6:24 PM
So what is traditionally involved?
Traditionally in a high street shop, to be allowed to accept credit cards you must be granted Merchant Status by ...
Mon, 9 May, 2016 at 6:27 PM
This section covers only Mail Order and Telephone Order (MOTO) sales.
Reduce the risk of fraud
Most MOTO sales are genuine. However, because...
Mon, 9 May, 2016 at 6:28 PM
MID stands for Merchant Identification Number
A merchant identification number (MID) is a unique number assigned to a merchant account to identify ...
Mon, 9 May, 2016 at 7:03 PM
What is a Virtual Terminal?
A virtual terminal is basically the web version of a physical credit card terminal or Point-of-Sale (POS) machin...
Mon, 9 May, 2016 at 7:09 PM