Video: Are Early Termination Penalties Really That Bad?

Watch this video to here a different poi of view on merchant account early termination penalties. Let us know what you think by sharing your thoughts in the comment section below.

Posted on August 21st, 2008 by Robb Lejuwaan in Basics, Key Phrases, Merchant Account, Rates and Fees , , , , ,
Leave a Feedback » | Read more »

Video - BE WARNED! Early Termination Fees and Auto-Renewal

Watch this video to be warned about the dangers that lurk in many merchant account contracts. The focus of this lesson is on early termination fees and contract auto renewal. If you heed these words you can save yourself a lot of money and suffering.

Posted on August 15th, 2008 by Robb Lejuwaan in Basics, Key Phrases, Merchant Account , , , , , ,
Leave a Feedback » | Read more »

Who is the “Issuing Bank?”

The Issuing Bank is the financial institution that extends credit to a card holder through credit card accounts. The financial institution issues a credit card and bills the card holder for purchases against the bankcard account.
Here is wikipedia’s defenition for Issuing Bank .

Posted on May 12th, 2008 by Robb Lejuwaan in Basics, Key Phrases, Merchant Account , ,
6 Comments » | Read more »

Who and What is the “Aquiring Bank?”

An acquiring bank (or acquirer ) is the bank or financial institution that accepts payments for the products or services on behalf of a merchant. The term acquirer indicates that the bank accepts or acquires transactions performed using a credit card issued by a bank other than itself.
The acquiring bank’s contract with the merchant is [...]

Posted on May 4th, 2008 by Robb Lejuwaan in Basics, Key Phrases, Merchant Account , ,
3 Comments » | Read more »

What is a Merchant Account Downgrade?

A downgrade occurs when a transaction fails to meet certain pre-defined criteria from Visa or MasterCard, and an additional charge is added to the discount rate for processing the transaction.

Posted on March 8th, 2008 by Robb Lejuwaan in Basics, Interchange, Key Phrases, Merchant Account, Qualification, Rates and Fees , , , , , , ,
1 Feedback » | Read more »

What Does the Term “Settlement” Mean

The term “settlement” describes the process of sending a merchant’s batch (set of authorized transactions) to the network for processing and payment. The acquiring bank pays the merchant (less applicable fees) with funds from Visa/MasterCard. The bankcard issuer then bills the card holder for the amount of the sale. Capture is another word [...]

Posted on March 5th, 2008 by Robb Lejuwaan in Key Phrases
1 Feedback » | Read more »
Home