ACH Payment

What is ACH Payment? A Complete Guide for Merchants

Knowing the ins and outs of how money flows in your business is one of the keys to growth. The devil is in the details, and small changes can have dramatic effects on your profits over the long term.  Let’s go! Understanding ACH payments is one of those details. Any business or merchant who conducts sales online or in any repeating capacity may benefit from supporting ACH, and today we’re going to cover the what, why, and how of ACH payments. What Does ACH Payment Stand For? ACH payments stem from what’s called the Automated Clearing House, and they function like checks without the paper. If you’ve ever been billed by monthly auto-drafts or use a direct deposit system of sorts, you’re already using ACH. Here’s the official definition ACH: “ACH is a computer-based clearing and settlement facility established to process the exchange of electronic transactions between participating depository institutions.”*…

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Gift Cards for Your Small Business

Gift Cards for Small Business: Why & How to Get Started

The blog below has everything you need to begin accepting and growing your business with gift cards. From choosing what type to various marketing ideas, you’ll walk away confident about how to best approach gift cards. Gift cards are useful for all businesses Gift cards are a win-win for both small businesses and customers. They provide a more thoughtful gift avenue than cash for consumers, and for businesses they help bring in new and repeat customers while fighting back against lull periods (I’m looking at you post-Christmas). Think about it. Every customer that walks into your shop or goes online searching for a gift card and doesn’t find one takes that business elsewhere and doesn’t spread the word about your business. You lose both short-term and long-term cash potential. This can really add up over time. Gift cards double as both a marketing and revenue tool simultaneously, so if you…

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AVS (Address Verification System) Explained

AVS (Address Verification System) Explained

It doesn’t matter what type of business you have, if you’re conducting online transactions consistently, it’s important to have a set of order review measures in place. Apart from the obvious benefits of fraud prevention, order review measures build customer trust and increase your leverage in chargeback cases — ultimately reducing your overall chargeback expenses. And the more you grow, the more important these measures and the system that you keep track of them with becomes. You may already be using or have heard of some of these order review measures before; many come built-in with the processing services MSPs provide, but it’s important to know why and which parameters you have in place to both make better decisions for your business and to be able to defend yourself when chargebacks occur. Documentation and proof of process are the keys to winning cases. The most common order review checks include…

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What is an eCheck?

What is an eCheck? Everything You Need to Know

With electronic payments being the norm and cash payments & traditional checks becoming less common year after year, it can be tough keeping up with all the various forms of payments available to your business. But, as a business owner it’s important to understand the pros and cons of each payment type you can and do offer to your customers, and the more sales you transact the more important the charges and flexibility of these payment options become. Rapid growth requires a proper foundation across every facet of your business, and payment processing is a big part of that. Transaction fees really add up, so even a small percent change can mean big savings for your business in the long-run. And it’s not just about keeping an eye on transaction fees, providing the best option for your customers increases customer satisfaction and online conversion rates. With this in mind, let’s…

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PCI Compliance Checklist: 12 Requirements Explained

What is PCI Compliance? If you currently accept or are planning on accepting payment card transactions, you’ve probably heard of PCI Compliance. It can be tricky to implement, but the reasoning behind PCI is straightforward. No one — not businesses, consumers, or issuing banks want to be the cause or victim of a payment security breach, so PCI was created to help isolate liability and reduce breaches. Or more formally: The Payment Card Industry Data Security Standard (PCI DSS) is a set of standards created by major payment card companies to protect consumers and avoid liability by forcing businesses involved in the payment card ecosystem to implement safety measures and processes. Got it? Great. Why payment security matters The security of cardholder data affects your businesses, your customers, and the entire payment card ecosystem. If a breach occurs at your business, you’ll lose customers, you’ll have to pay numerous, often…

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