An acquirer or acquiring bank has a few meanings. Sometimes, an acquirer is a business or corporation that takes over another’s ownership through a purchase or another type of action. More frequently, acquirers are banks that obtain the rights to a business’ merchant account, so that the financial institution can manage the company’s bank account. In the payments industry, an...
In the simplest of terms, a transaction flow is the journey a payment takes from start to approval to settlement. Any time a person buys something using a credit card, it follows a stream or transaction flow, passing through many players before the payment is settled. Knowing how a transaction electronically passes from a customer to a merchant’s bank account,...
While cryptocurrency is not a significant factor for an agent ISO yet, there is a lot of chatter going on in the industry about how cryptocurrency will alter the way the value of goods are exchanged. Even so, experts are saying that the traditional merchant services model will have the advantage and appeal of widespread acceptance. Cryptocurrency still has a...
Online dating sites are bigger than ever before. In an increasingly digital world, more and more people like the idea of finding their soulmate online and believe that it is possible. Success story after success story proves it. Even so, things are not as straightforward or easy for the companies that provide online dating services. Any business that falls within...
Unfortunately, many credit card processors do not want to work with nutraceuticals businesses. Without a merchant account, these businesses have no way to accept credit and debit card transactions. They also struggle to secure the financing they need to grow their business and cover costs. There are two main reasons for this. First, the industry is regulated. The U.S. government...
According to a new report in the “Restaurant Digital Crossroads: The Race to Meet Guest Expectations”, ease in payments and ordering are what diners want most. The younger generations are the driving force behind this growing trend. Hassle-free ordering and payment are especially important to young consumers between 18 and 37 years old. To be exact, 75 percent of them...
JD.com is currently winning the global race to develop unmanned aerial vehicles with the strength, reliability and range to deliver goods on large scale. This summer, Chinese e-commerce giant JD.com Inc. launched a drone from a playground in the city of Xi’an. The purpose was to deliver one of the orders in a football-sized box to a village in the...
Merchant accounts can be very tricky to find. However, it can feel nearly impossible if your business is considered high risk. There are many business types and industries that are considered to be high risk, including: airlines, credit repair, ebooks, electronics, telecommunications, travel, warranties, gaming, and many others. IT help desk support is among this list. Though one factor alone...
Obtaining high-risk merchant accounts can be uphill battles if you do not know what to expect and how to make your business more palatable to merchant service providers and their underwriters. Understanding how lenders think about certain businesses and what steps they can take, make getting high-risk merchant accounts that much easier. What Makes a Business High Risk Banks and...
In today’s digital world, encryption schemes are everything. Are you absolutely sure your business is protected? Recent reports might cause you to take a closer look at how you’re protecting your customers’ sensitive information. At the point of sale, there are two encryption options: PCI-validated point-to-point encryption (P2PE) solutions and nonlisted encryption solutions, which lack several key requirements. The PCI...