Echeck And Merchant Services Providers

For a customer, payment happens in a matter of a few seconds. The same process at the backend goes through a bundle of verifications and checks. It involves more players other than the customer and the merchant. More players and more processes make financial transactions secure and foolproof, however, they also slow them down by presenting hurdles. This post is about those hurdles to your payment systems and presents a unique solution to all your payment-related issues like chargebacks, set-up/termination fees, and friendly frauds: an eCheck payment service. You run a high-risk business and merchant account providers keep laying you off. You need a trusted payment partner and a reliable service like eCheck that will put your problems away and actually boost ROI (Return on Investment) and user experience (UX). Open up new avenues by reaching out to more customers and getting ready to explore the option of scaling up. An eCheck payment processing service will do for you what no other...

A merchant is an integral part of the payment processing cycle. Merchant simply signifies the business owners who hire payment processing services to facilitate a method of processing monetary transactions. Merchant account services, like a bank etc. provide merchants with an account through which they can accept payments via credit/debit cards, e-wallets and a number of other modes of electronic payment. Merchant accounts are essential for a business to accept  online payments. These accounts are specifically used for conducting business related transactions and are provided by merchant acquiring banks to business owners. What are virtual merchant accounts? Virtual merchant accounts are those accounts which serve virtual merchants (online storefronts). These merchants can accept payments from anywhere. Virtual terminals, ecommerce websites, credit card terminals, point of sale (POS) terminals and mobile apps are all examples of virtual merchants. A single virtual merc...

The online business arena has eventually embraced payment processing solutions in a wholesome manner. Not because they had a choice in this as there is no alternative but rather because it is a necessity and an imperative requirement to thrive in today’s digital world. There are a number of players in this industry which and are called payment processing companies. What is payment processing? Payment processing is a service provided to businesses to furnish them with the capability to carry out monetary transactions with ease and efficiency. There is a need for a separate industry for this service because the payment process is complex and involves multiple players and technologies for security and other purposes. Payment processing ensures that transactions are carried out securely and confidential data of users is kept out of unwanted hands. The companies that offer payment processing services carry out financial transactions on behalf of the merchant at a minimal fee. These tra...

Every business needs a credit card processor. Plastic money is so much more convenient and offers a lot of flexibility and advantages to the customers. However, small or high-risk businesses that have more probability of shutting down find it hard to find a reliable credit card processing service. Different processing rates, terms of contract and variation in fees tends to bewilder the merchants in finding a suitable and cheap processing service. Small or new businesses need to save money and for this reason they look for cheap credit card processing companies . A business owner can either opt for a traditional merchant account or choose a payment service provider (PSP) to process payment. Let’s understand what these are: Merchant Account A merchant account is the traditional way of going about payment processing. As a merchant you are given a unique identification number. They are costly in the sense that you would have to keep paying a certain recurring fee apart from the other ...

As the trend of online businesses boomed, so did the various payment methods. It was a demand to bring in better fintech to ensure that businesses and customers could safely conduct online transactions without worrying. The reliability of any online payment method depends on its speed, authentication protocol and security. Electronic check is one such digital payment solution. Though eCheck is the modern digital version of centuries old conventional paper checks, it is undoubtedly an efficient payment method since it checks all the right boxes. eChecks are fast, secure, simple and user friendly. Their usefulness comes in when processing high risk transactions or larger amounts. They facilitate absolute mobility and provide users a way of paying anyone from anywhere without any hassle. They are fairly easy to operate since the user only has to fill in minor details and that’s all. They can be authorized over email or even on a recorded phone call. eChecks are also the go to payme...

What is a payment processing company? Why you need one? Do you know that there’s a thick line between payment processing companies and POS? No? Continue reading further to grow you knowledge, as it’s high time businesses must know everything about payment processing . Defining the term in simple words, a payment processing company refers to an entity that gives the businesses authority to accept credit card, debit card and other forms of online payments. Moreover, it plays an important role of managing everything related to the processes that goes in the background once customers share their card details to proceed towards transaction. When a customer provides their card details manually or share it by swiping the card, processes such as encrypting the details, routing them to the bank followed by back to the business’ bank are taken care by the payment processing companies. While looking for a reliable payment processor, certain things are meant to be given great importance. On t...

Payment processing is an integral part of any online business as it forms the backbone of sending and receiving online payments. Ecommerce businesses, services providers, online sales markets, food delivery businesses and bookings and ticketing, all these industries require payment solutions which in turn need merchant account services . There are several merchant account providers which offer a platter of different payment solutions ranging from debit/credit card payments to services like eCheck and electronic payments via mobile wallets and digital payments. What is a merchant account? A merchant account is your business transaction account. It is a special kind of commercial bank account that allows business owners to send and receive payments to their business from multiple payment methods. It facilitates these transactions by acting as a holding account for funds. They furnish businesses the capability of accepting cards and other kinds of electronic payments. They are an ess...

As the name says, eCommerce payment system eases the way online transactions take place through electronic payment mechanisms. Used by online businesses, e-payments are an advanced way to get over paper check transactions and do the transactions quickly and securely. Thanks to technology that’s evolving almost every day, electronic payments have taken over the world by storm. More and more businesses are switching to the modern way of accepting payments, which pleases customers as well, as customers are fascinated by online payments these days. If you own an online business, knowledge about eCommerce payment is something you must have. With a hope that benefits of this revolutionary payment system will make you curious about it, we have outlined some amazing benefits of eCommerce payment system in the section below. Benefits Of ePayments 1. Time saving: Time is a luxury and everyone in this modern lifestyle is trying their best to save it as much as they can. Electronic money can...

A merchant account is typically a business bank account that facilitates merchants to accept payments via different payment methods like debit/credit card, eChecks , electronic methods, mobile wallets etc. Payouts are made on a regular basis from this merchant account to business owners by the acquiring bank. In short, merchant services provide 360° payment solutions to business owners. These accounts offer businesses a secure and safe place to hold their incoming funds from sales and transactions handling simple and complex payments making payment processing simple and efficient. How merchant services can help you with your business?  An efficient payment processing system can put customers and business owners both at ease. With limited downtimes your customers can find the payment process convenient and always working. This builds trust and credibility working as a magnet for attracting more customers which in turn triggers growth and increment in ROI (Return on Investm...

Humans are living in the world that follows the motto, right now! With smartphones in everyone’s reach, finding information about everything has got easy. Similar is the thing with eCheck payment . Easily available to the merchants, electronic checks help them to accept payments right on time. Since they are easy to use, are secure in nature and highly affordable, they are undeniably the best payment processing system any business can have. If you are looking forward to discover what other benefits they comprise of, reading the below points is worth investing your time. 1. eChecks save money Be it any business, it has its eyes on saving money. With echeck processing, savings can be done on the cost of check stock, printer supplies, postage and envelopes that are used when working with paper checks. 2. eChecks save time Printing a check, putting it in the envelope followed by taking it to the mailbox kills time. With eChecks, things are different. Payment gets done the moment m...

In this world where everything has gone online, cyber criminals are having the time of their lives in terms of e-commerce and m-commerce transactions. To stop them from playing with the security of finances and customers data, merchants have to have the best payment security protocols. One of the best things they can do is selecting the reliable and safe payment gateways.  If we talk about credit card payments, they count for the most usual forms of payments. Owing to the terrific increase in the number of online payments, the number of scammers has also grown exponentially. These criminals have expert hands on utilizing technologies in their favor, which clearly signifies their interest in insecure payment processing. Is there any way to ensure payment processing solutions? Thankfully there is! Following a few careful points can play a great role in securing the data as well as keeping it away from being stolen. Let’s take a look at some of those ways: 1. PCI COMPLIANCE When p...

Whether you own a business or planning to start one, you will have customers who will pay through credit and debit cards. How does it matter? It does because to accept these payments, your business needs its very own merchant account. Though you may have heard about it a million times but when it comes to know what a merchant account is exactly and what are its aspects, your knowledge may not be complete. Also, you may not be knowing why businesses need merchant services and how phenomenal their future looks in the vast business world. Agree? This post can help you get all the information in the easiest and best way. Merchant Account- What Is It? This terms signals towards a sort of bank account that makes a business able to accept card payments as well as various other forms of electronic payments. To set this account, a payment processor is required as it handles payment processing when payment is done from the end of customers for the products and services they purchase. An ag...

The worldwide global market is dynamic and ever changing. According to the data provided by the International Monetary Fund (IMF), the worldwide GDP was at 84,740.3 Billion US$ in 2018, growing by 5.73% from the previous year. This growth is a result of advancements in technology, communication and the continuous growth of disruptive technologies that dot the timeline sporadically.   Kenneth research has published a comprehensive report of payment gateway market growth and analysis with emphasis on market sizes, key growth indicators and the impact of micro and macro trends across the globe. Several key growth drivers, challenges and restraints to the payments gateway market have also been studied in this report. This study covers a detailed market analysis under several segments that explore the global payments market based on region, growth metrics, market sizes and general attractiveness. What are payment gateways? A payment gateway is an application that facilitates...

Fervent growth of financial technology has greatly improved the payment processing methods. Process of financial transaction i.e. transfer of funds from one account to another can be facilitated in several ways. Before discussing about the payment processing industry, the software and the associated technology, it is imperative to understand the fundamental concept of payment processing. What is Payment Processing? Any financial transaction involves a total of three parties or players. 1. Customer, the one who pays 2. Payment processor that provides the technology 3. Merchant,  the one who receives the payment Payment processing is the management of fund transfer between two players. Companies that provide this facility or the technology are called as payment processors. An important function of these companies is making the transactions secure to curb frauds. Now-a-days there are multiple ways of completing a payment, via credit/debit card, eCheck payment over an ACH network,...

Payment processing systems are an integral part of websites and applications. Any website that provides a product/service ex: an e-commerce website and business, has to provide a process to send/receive payments. There are different methods to achieve this and eCheck is one of these methods. E-checks have recently become popular as they are a novel payment processing concept gaining immense popularity and merchant recognition. E-checks are the digital counterparts of conventional checks and are safe, fast and secure; they perfectly fit the profile for online payment processing services. What is an eCheck Payment? An eCheck payment system facilitates financial transactions between two parties. As compared to conventional methods like credit/debit card payment and other modes of digital payments, eChecks come with a guarantee of high safety, low risk factor, free & instant set-up. They are convenient for both, the customer and the merchant, since fund transfer takes place d...

Growing eCommerce has greatly increased the number of digital transactions. It is projected that by 2021, a total of $5 Trillion worth transactions will be made on e-commerce websites worldwide. This industry is growing at a rate of 21% currently and continues to grow rapidly. Since, more and more of these e-commerce platforms are enabled to carry out financial transactions, a secure payment system for websites becomes a necessity. With a secure payment solution , reputation and credibility of a company grows resulting in an increased ROI (return on investment). Ensuring a robust and secure payment processing solution instills confidence in a customer. A sense of security and the feeling that ‘my money is secure’ builds confidence and brand value of your company in the marketplace. Without these security measures, merchants and customers both are vulnerable to cyber-attacks, data-theft and fraudulent activities. In the last 6 years almost $112 billion have been siphoned off by cy...

New Year is the time for resolutions. It’s the time to learn from the past mistakes and take steps to overcome them. Agree? If you run a business and are unhappy with the way you process payments, 2020 is the time to make some rewarding change. Like what? Like staring with best merchant services ! Reason? To accept online payments and attract more customers since customers these days are more into making the purchase from websites and making the payments instantly using their credit and debit card. This way, they are not limited to physical money and can shop as much as they want without going anywhere. Make 2020 Your Year To Grab More Customers Forget the past and make blast now. Being limited to accepting physical cash harms more than it benefits. How? Because you only appease to the customers who pay through cash. On that note, customers who prefer online payment choose other businesses over you. Also, once they know you only accept physical money, they don’t bother coming t...

In today’s digital world, businesses that accept eCheck payments are more preferred by customers. This happens because they feel more comfortable & secure when they pay their bills via electronic checks. Electronic checks let customers enjoy online shopping anytime and from any place. eChecks can be done online or via phone in a very easy and hassle-free manner. Electronic check payment processing procedure The processing of eChecks is executed almost similar to paper checks. The processing procedure involves use of an electronic checkbook that contains encryption tools, check processing software and other required tools. Whenever transaction is to be initiated, a blank eCheck appears on the customer’s screen. The fields like date, account number, memo, etc. are already filled. A customer has to insert the e-book into the check processing machine. The customer then needs to unlock the checkbook by filling the required details. The serial number of the eCheck is filled automa...

In today’s highly competitive business era, business owners always look for innovative ideas and technologies to grow their businesses. They always try to maintain a steady stream of happy customers by providing them quality products and exceptional services at the lowest possible prices. But customers satisfaction is much more than just providing quality products and services at affordable prices. Keeping customers happy is all about facilities, convenience and reliability. Today most of the customers prefer eChecks or cards to make payments. That’s the main reason why a merchant account is a must have for all businesses.  What is a merchant account? A merchant account is an account that lets business accept online payments via payment cards. The account is just like an agreement between the bank, the merchant and payment processor for the resolution of online transactions.   Key benefit of having a merchant account A business cannot process credit or debit ca...

There is no need to mention that credit card processing is crucial for every business. Credit cards, being the latest payment trend have created a whole new tradition in the business world. Today, both business owners and customers are making sure that they use credit card processing. Not only for big organizations & multinational businesses, but limited size business can too benefit from this advanced system via credit card processing for small business . With this facility, they can increase their sales and improve their reputation. In simple words, credit card processing is a process of electronic money transaction from one account to another account. This whole process executes in a very standard and reliable way and this is why it is gaining high popularity among businesses of all size and types. Some small business owners may still ask, why they have to offer card processing? Reason being, they have to pay a processing fee every time a buyer presents card for paying...