Beginning October 1, changes in credit and debit card processing standards shift certain liabilities to businesses with outdated processing terminals Here is a short video from MasterCard about the new EMV and your small business. Read more
What a Merchant Account Is.
A merchant account is one piece of your whole payment solution: in its simplest terms, its a bank account that allows your business to accept online credit cards and e-checks. At a specific time each day, your merchant account bank receives that days completed transactions. They hold the money for several days or more, to make sure all parties involved are satisfied. During this time, they also perform additional security checks. If no issues arise, the bank then wires the money into your business checking account. Read more