Archive for November 2017
Generating a 90-Day Profit Statement
A profit statement, also known as a profit and loss statement (P & L), is one of a number of financial statements that you bank could call for to assess your business’s financial position. A 90-day profit statement is a short-term snap-shot of how profitable your business trading was during a 3 month period. A…
Read MoreACH and e-Check Processing
To get ACH and e-Check processing services from your merchant service provider, you will have to put in an application that will require much the same information as was required when you applied to accept credit card payments. This will include all your business details, your Federal Tax ID and your estimated processing volumes. This…
Read MoreEnsuring that Customers’ Personal Data is Secure.
The guaranteed way to ensure that your customers’ personal data is secure rests on your choice of merchant card service provider; it’s that simple! By selecting a reputable merchant card service provider that has all the mandatory certifications and verifications as set-down by the Payment Card Industry (PCI) Security Standards Council, you are ensuring that…
Read MorePayment Processing Integration Can Help Your Business
The first and most obvious benefit of integrating payment processing with accounting and other business applications will save you time and money, and more importantly reduce potentially costly errors. Through reports generated you will also get a better overview of your business. If you are manually entering and reconciling payments to billing, you are wasting…
Read MoreGetting Started With Credit Cards and ePayments
When credit cards first came onto the market, they were far less widespread. You had to have a high net worth to qualify for one, because your income and wealth levels were seen as proof you could pay off your cards. High end designer stores soon adopted card payments. The world today is different. We…
Read MoreContactless Mobile Payments
If you have an interest in mobile apps and cell phone technology, you might have noticed a move towards contactless sharing. It started with sending addresses and phone numbers, then evolved into music and images. The feature allows you to pass information from one phone to the other without the two phones touching. When this…
Read MoreCredit Card Interchange Fees
As a customer or a business person, you only see the surface level of credit card transactions. The customer swipes a card and the product or service gets paid for. What we don’t see is the intricate exchanges involved. The money starts at the customer’s bank account, passes through a payment processor, and ends up…
Read MoreGive Your Business a Real Advantage simply by Accepting Multiple Forms of Payment
When human beings first discovered trade, we mainly used the barter system. It worked for a while, but was cumbersome because products were often bulky and there wasn’t always a clear way to estimate value. With time, we progressed into standard forms of exchange like beads, salt, precious metals, and eventually cash. In the 21st…
Read MoreQIR Compliance: What’s it got to do with you?
Qualified Integrators and Resellers (QIR) compliance is a standard set for resellers by the Payment Card Industry (PCI) Security Standards Council to implement, configure and support Payment Application Data Security Systems (PA-DSS). QIR validated companies are listed on the website of the PCI Council. Although QIR compliance has not yet become a compulsory requirement, card…
Read MoreHow do Visa QIR Requirements affect my online business?
Merchant processing is a delicate process. On the customer side, it may look quite simple. After all, they simply flick their wrists and swipe their cards, or maybe key their details onto a website. For some, it’s as easy as waving their cards over the NFC reader on a mobile phone. In reality, it’s a…
Read More