An ACH transfer (Automated Clearing House transfer) is an electronic movement of money between bank accounts in the United States. It’s the foundation of many routine payments – for example, payroll direct deposits, monthly bill payments, tax refunds, and consumer-to-business transfers – and is governed by rules set by the...
How to Reduce POS System Costs: Smart Strategies for Small Businesses
Reducing POS system costs is essential for small business owners, retailers, and restaurants seeking to maximize profitability. Modern point-of-sale (POS) systems can carry significant upfront and ongoing expenses – from hardware (like cash drawers, card readers, and touchscreen terminals) to software subscriptions and payment processing fees. However, there are many...
Mobile POS Solutions: How to Take Payments Anywhere
Mobile point-of-sale (POS) solutions transform smartphones and tablets into portable cash registers, enabling businesses to take payments anywhere with ease. These systems pair a mobile app with a compact card reader or smart terminal, allowing vendors – from small retail shops and event stallholders to freelancers – to process credit...
Guide to Accepting International Credit Card Payments
Accepting international credit card payments allows U.S. businesses to tap into the vast global market. Cross-border e-commerce is booming – global online retail sales are projected to total around $4.8 trillion by 2025 (about $6 trillion in 2024). By enabling payments from abroad, small businesses, e-commerce platforms, and freelancers can reach millions...
How Membership Payment Programs Help Eliminate Hidden Fees
In recent years the membership economy has surged, reflecting a shift toward subscription and flat‑rate pricing models. Forbes projects that the global subscription market will reach $1.5 trillion by 2025, as businesses and consumers alike gravitate toward predictable pricing. At the same time, there is growing consumer backlash against “hidden...
How to Choose the Best Payment Processor for Your Business
Choosing the best payment processor for your business is a critical decision. Modern businesses – whether e-commerce stores, brick-and-mortar shops, SaaS platforms or freelancers – must accept payments online and in person quickly, securely and cost-effectively. The right payment processor can streamline customer checkout, handle multiple payment methods (credit/debit cards,...
Different Types of Merchant Accounts Explained
Merchant accounts are specialized bank accounts that enable businesses to accept credit and debit card payments. In the United States, where consumers overwhelmingly use electronic payments, having the right merchant account is critical for any business that sells products or services. In fact, global non-cash retail transactions have grown rapidly...
How Payment Processing Works: A Step-by-Step Guide
Payment processing is the behind-the-scenes system that lets businesses accept credit cards, debit cards, and other electronic payments online or in-store. When a customer pays—whether by tapping a card at checkout or clicking “Pay” on a website—secure payment data is routed through multiple intermediaries before funds arrive in the merchant’s...
What Are Merchant Services? A Complete Beginner’s Guide
Merchant services are the financial tools and systems that enable a business to accept and process payments from customers. This includes credit cards, debit cards, electronic checks (ACH), mobile wallets (Apple Pay, Google Pay), and online payments. In other words, merchant services turn customer payments into business funds. In today’s...
The Pros and Cons of Membership-Based Merchant Services Programs
Payment processing fees have long been one of the most annoying expenses for business owners. The merchant pays a fee to facilitate the transaction each time a customer taps their phone or swipes their card, in addition to receiving revenue. These expenses, which are typically a mix of markup, interchange,...