Echeck And Merchant Services Providers

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 Investment)

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 proce

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 any

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, dig

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 card paymen

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

Business owners are always looking for ways to increase sales. Most of them offer multiple payment alternatives as it helps them reach millions of customers at a global level. But even then they miss the opportunity to increase sales, only because they don’t accept eCheck payments. Even today, lots of customers don’t have credit cards and they simply prefer to pay by electronic checks. If you want to target these customers, then you must accept electronic checks. What is an eCheck Payment? Echeck is an electronic version of paper check used to make payments. In the eCheck payment process, the fund is directly debited from a buyer's bank account and deposited into the seller's account using electronic version of paper check. This electronic fund transfer process is reliable, fast and efficient. You need just one checking account to accept eCheck payments via online mode, or by phone, mail or fax.   How Does eCheck Work? Echecks processing allows merchants to collect all the

Electronic checks or eChecks have now been around for several years and have been introduced in businesses of all types and scales. If you are running any business and accepting just cash or card payments, then you may be missing a crucial business trend. According to the latest survey, a great percentage of people are in for eCheck payments, thus, businesses shouldn’t keep away from them.  If you start accepting echecks, you could potentially be increasing your profits. Innovative and advanced technologies make these payments more convenient to businessmen and customers alike. These electronic checks have become so popular at the international level. They work in the same way as paper checks, but are safer, more accurate, and an alternative for on-time payment. To facilitate faster money transfers, merchants use this innovative eCheck processing solution . Besides being a great convenience, it is highly helpful in terms of money management.    No matter what type of business you

In the modern market it is very difficult to survive and thrive without accepting card payments from the customers. A merchant service provider enables your business to accept payments-via-cards. As you may already know, the number of people carrying cash in their wallets have considerably decreased and it is still decreasing constantly. Not accepting cards can equal less sales opportunities and more efforts needed to be put in by your whole team to attract customers and sell them off the products and services. Moreover, customers leaving the sight because of unavailable POS terminals is getting common day by day. Small businesses or the businesses who have started off lately may find it an unwanted and large expense. This is only their ignorance and unawareness about the importance of payment processing services that lead to this idea. Experts opine that finding fast and secure card processing services helps a business to proliferate. This is an investment you need to make so as

All this while you were encouraged to switch to card payments for taking your small business to higher avenues. And now it is about accepting eChecks. Eliminating the safe and convenient paper checks from the payment might not lure you at the moment. But as you will learn about the perks of availing eCheck services from a reputed provider it would get difficult to resist the need to use them. Similarities & Differentiation Between A Paper And Electronic Check The only similarity between traditional paper checks and the modern-era eChecks is the fact that they serve the same intents and purposes. But they are still better than the traditional paper checks because: • They get less time to get processed • Electronic checks are more safe and error free • They are environment friendly • eChecks save time and money both these factors play together to make them hassle-free and contribute to the increasing popularity of digital checks. Comparison With Other Payment Alternatives In the

Enabling your business for credit card acceptance starts from your search for a capable merchant service provider . Many businesses end up settling with the payment processing service providers for their merchant account needs. But oftentimes they realize that this is not what they were expecting the provider to do to their business. In other words, services from your processor obviously cost you something but they are not an expense but an investment. Question that has been snatching away peace of most of the modern day merchants is if they are getting the justified ROIs from their respective investments? Is your provider acting fair with your business? Are the card processing services helping you to the extent you expected them to? Is It Important To Perform A Reality Check On MSPs? Just like every other business owner, you must be working hard for your money. You are ready to pay your service provider for their expertise but are you getting the best from their side? If you have