Category Archives:Merchant Account
High Risk & Low Risk Merchat Services

Residents targeted by credit card scammers

Residents targeted by credit card scammers
When the wife contacted Ipayment to inquire about the account, she was told that a business account was opened under Timberwood Construction in September. The woman told the deputy that although the account was opened using the correct address, …
Read more on Coeur d’Alene Press

KKR third-quarter earnings beat expectations amid surge in cash
Its economic net income (ENI), a metric of profitability that takes into account the mark-to-market valuation of the portfolio, was $ 419 million on a post-tax basis, down from $ 571 million a year ago. This translated into … KKR's divestments in the …
Read more on Reuters

Lastest Merchant Account News

Pros and cons of the top mobile payment systems
With Apple Pay, the phone unlocks automatically when you hold it near the NFC (near-field communication) reader on the merchant's payment system. You're then … Pros: You can make payments through your bank account, not just cards. You can also send …
Read more on Philly.com

KARE 11 Investigates: How thieves can easily steal your ID and credit
If Rob Olson hadn't gotten suspicious, the crook could have set up a business account that would let him ring up hundreds of phony credit card charges on his merchant account and pocket the stolen money. "And they'll do this until the wheels fall off …
Read more on KARE

Best Credit Card Offers for Retirees: Which Should You Choose?

Best Credit Card Offers for Retirees: Which Should You Choose?
There's also a killer signup bonus: Earn 40,000 bonus miles when you spend $ 3,000 or more on purchases in the first 90 days from account opening. … Please note that NerdWallet has financial relationships with some of the merchants mentioned here.
Read more on NerdWallet (blog)

Are 'Pull' Credit Card Transactions Making You Overly Vulnerable?
… trust all the parties involved? When you swipe your credit card at a retailer, potentially hundreds, if not thousands, of people could be involved in that transaction. How is that possible? Isn't money moving directly from your account to the …
Read more on CryptoCoinsNews

Lastest Merchant Account News

Baidu World: Focus On Offline-to-Online E-Commerce
Upon typing in a mobile search query (by inputting “@merchant name”), users will be redirected to the merchant's Zhida Account page and can book/purchase services through the account page, with payment and social sharing enabled. As such, Zhida …
Read more on Barron’s (blog)

State of extremes
Or a merchant's description of Virginia City as "the greatest aggregation of toughs and criminals that ever got together in the west." Strahn begins with an autobiography of William Clark's slave York, and … We learn about "hurdy-gurdy houses" in …
Read more on Missoula Independent

MyECheck to Provide Mobile Payment Services to Sionic Mobile
… fraud prevention and mobile account services. Atlanta-based Sionic Mobile is a mCommerce company utilizing mobile devices and cloud technology to connect merchants with nearby, ready-to-spend consumers. The company is the maker and provider of …
Read more on KSWT-TV

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Atlanta-based BitPay hooks up with PayPal to expand bitcoin adoption

Atlanta-based BitPay hooks up with PayPal to expand bitcoin adoption
Merchants using Payments Hub can create a BitPay merchant account. PayPal customers with a bitcoin wallet will then be able to pay with bitcoin for games, music, videos, news, ebooks, and other digital content. “PayPal's Payments Hub is the ideal first …
Read more on Atlanta Business Chronicle (blog)

Payments Processor Braintree Confirms Bitcoin Integration Rumors
In its blog post regarding the announcement, Coinbase indicated that Braintree businesses will need to open a new merchant account with Coinbase in order to complete the integration upon its release. However, Braintree merchants that want to get in …
Read more on CoinDesk

How Main Street Will Pay for Home Depot's Data Breach
When a credit-card company identifies fraud, it wipes the payment off the cardholder's account and notifies the merchant. Unless the store can prove the payment was authorized, the credit-card company debits money from a merchant's checking account, …
Read more on Businessweek

Fifth Third officials say little about merchant 'security breach' that

Fifth Third officials say little about merchant 'security breach' that
“The bank has steps in place to take action when there is any possibility that a customer's account may be compromised,” Rowland said. “In an era of increased information sharing, we're very proud of our sophisticated fraud protection and proactive …
Read more on Mlive Kalamazoo

Cyber crooks target faujis, steal salaries
The accounts targeted are of State Bank of India and Rs 11,000 to over Rs 3 lakh has been stolen from each account. The IP and merchant addresses used are being procured and the initial leads suggest the hackers are based in the US and Canada, …
Read more on Times of India

Visa launches new tools to secure payments from Internet-connected devices
"Smartphone manufacturers can securely load a Visa account within a device, merchants can directly embed Visa payment functionality into their mobile apps and financial institutions can offer mobile and online payments as part of their mobile banking …
Read more on Retail Customer Experience (blog)

Credit Card Merchant Accounts?

Question by DMG: Credit Card Merchant Accounts?
I recently submitted an application for a business credit card merchant account. It is an existing business with an existing merchant account with another company. This new provider wants me to give them my social security number even though the company has its own EIN/tax ID. Why would they want my social? Does this open me up to financial liabilities of the company? I know if they hard pull my credit information, this has a negative impact on my personal credit rating. The other option is to jump through hoops of sending several years tax returns and months of bank statements. What is the best course of action?
We have been in business for almost 7 years so it is not from lack of history.
This is not for a business credit card, it is for a merchant account to process credit cards.

Best answer:

Answer by RIP LUCY
Just give them your social. Sounds like they will approve your application, based upon your credit. One inquiry isn’t that harmfull and this way is way easier.

Know better? Leave your own answer in the comments!

For Merchants, Bitcoin Shows More Pop Than Potential

For Merchants, Bitcoin Shows More Pop Than Potential
Merchants that accept Bitcoin are trying to attract virtual currency enthusiasts like Mr. Hand.Credit Matthew Staver for The New York Times. Jason Hand had more money in his Bitcoin wallet than in his savings account. So when he wanted a white linen …
Read more on New York Times

PayZang Announces Several New Affordable Pricing Plans For Small Business
No Setup Fees Or Monthly Fees For Standard Accounts – Small businesses dealing with setup fees cutting into their profit margins can get a breather with PayZang merchant services with no setup fees and no monthly fees for standard merchant accounts for …
Read more on PR Web (press release)

What is the difference between Merchant Account and Payment Gateway?

Question by M Shadows: What is the difference between Merchant Account and Payment Gateway?
Online Shopping

Best answer:

Answer by imisidro
Merchant account is a bank authorized account which allows you to accept major credit cards, electronic checks, etc. Note though that rates banks will charge you are higher if you are operating an online store because the “card is not present”

Payment Gateway is a software which actually processes customer order information, address, credit card number, etc. The data is sent to a credit card authorization network which verifies that the credit card is valid and verifies that the shipping address matches the billing address. Example of payment gateway is Authorize.net http://www.authorize.net

If you have only a few items, you can operate without a payment gateway and only with a merchant account — as long as you can manually assess the order and identify signs of fraud. All you need is a merchant account and a terminal where you can manually key in the credit card information

With a payment gateway, the order and credit card information is directly sent to your merchant account. So if the customer pressed the BUY NOW button twice, their card can be charged twice, as against when you manually key in the number, you can ignore the duplicate order

Add your own answer in the comments!

Lastest Merchant Account News

Alaric Introduces New Version of Fractals to Modernize Payment Fraud Detection
“The latest version of Fractals arms fraud teams with the best possible technology to protect their account holders and, ultimately, their bottom line.” The latest release incorporates new features designed for merchant acquirers, developed in …
Read more on MarketWatch

DataPath Provider Payments Simplifies Reimbursements for Workers
How it Works: DataPath manages the entire payment process, including provider registration. Once registered, providers are reimbursed for services by entering a secure account number on their merchant terminal. Through a customized portal, payers can …
Read more on PR Newswire (press release)

Android Apps for Mobile Payments Will Make Processing Simpler for Your
Like Square and PayPal though, you will need to buy the card reader and open a merchant account with them. Its strengths are support for many payment gateways and reasonable transaction fees. You can either pay them per transaction or a monthly fee …
Read more on Tech Cocktail