Category: MERCHANT SERVICES
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What Is an MID and Why You Need One
The acronym “MID” stands for Merchant ID, Merchant Identification Number, or even Merchant Number. It sounds pretty straightforward and simple, but the MID plays a major role in the flow of funds. Not every merchant has an MID and merchants who do have one might not know it. Knowing your Merchant ID and understanding how it’s used can help you in the…
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Applying for a Merchant Account? Here Are 8 Facts You Need to Know
Applying for a merchant account gives your business the opportunity to scale that’s incomparable to popular 3rd-party processors. This is especially true for high-risk merchants who are subject to higher rates, monthly processing volume caps, and the possibility of having their store shut down if using a standard merchant account. The merchant account application is…
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The Ins and Outs of Subscription Merchant Services
There’s been somewhat of a renaissance in recent times when it comes to subscription services. Industries of all types have embraced this new subscription model as something that delivers consistent recurring revenue, while also providing the financial stability needed to continually improve the customer experience for the end-user. When done well, this business model can…
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FAQ Friday – Understanding Fees Part 1: High-Risk Merchant Account Fees
It should come as no surprise that merchant account fees come standard with any high-risk merchant account. Understanding what these fees are and why you are paying them can help reduce costs in the long run. Some fees are negotiable, some fees can be removed entirely, and others are permanent. In any of these cases,…
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America’s Choice Can Affect Your Merchant Account
With less than a week until polling closes for Americans voting in the 2020 US presidential election, much of the Western world watches on with bated breath. Wo will come out on top? Will be former vice president Joe Biden? Or will US President Donald Trump secure another four years in office? Many of you may be concerned about the handling of the coronavirus pandemic. Or perhaps how to bridge…
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