How to Sell Merchant Services: A Step-by-Step Guide for Every Merchant Services Sales Agent
If you’re a new Agent in the payments world, congratulations. You’ve chosen an industry with unlimited earning potential and the opportunity to build residual income for life. But we know that selling merchant services can feel intimidating at first. There are payment terminals, POS systems, interchange fees, gateways, payroll integrations, compliance requirements, and dozens of […]
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Incremental Authorization in Payments: What It Is and How It Works
Marketing departments carefully design sales funnels to turn prospects into clients. In a moment, a single payment problem can derail a customer’s buying experience. While failed payments and inconvenient refunds can deter customers, it is possible to prevent them. With incremental authorization, you can easily charge customers when you aren’t sure what the final transaction […]
Credit Card Tokenization: What It Is and How Payment Tokenization Works
As a business, you need customer payments to stay afloat. However, each payment that passes through your system creates an added risk. If the customer’s financial data is stolen or unintentionally exposed, it can lead to regulatory issues, financial repercussions, dissatisfied customers, and a negative impact on your brand. One way to mitigate these risks […]
Merchant ID Number (MID): What It Is and Where to Find It
Most people don’t think about how payments end up in their merchant accounts. Unless there is a problem, they process payments and transfer funds without a second thought. Your merchant ID number (MID) is a unique number that is linked to your merchant account. It is used by banks and payment processors to make sure […]
Cash Discount Program Guide: What It Is, How It Works, and When to Use It
While 65% of consumer payments are made with a credit card or debit card, only 14% of payments are made in cash. For merchants, this represents a potential opportunity. If you can increase the number of cash transactions, you can lower your overall processing fees and reduce your operating expenses. Companies can encourage more cash […]
What Is a Soft Decline in Payment Processing (and What Merchants Can Do About It)
Soft declines make up the majority of declined transactions for merchants. Unlike hard declines, there are steps you can take to mitigate and resolve these issues. These transactions are declined for temporary reasons that can often be fixed by updating information, switching payment types, or retrying the transaction. To learn more about credit card soft […]
PayPal Business Fees Explained: What Merchants Really Pay
When creating a business strategy, entrepreneurs often focus on the cost of materials, overhead expenses, and labor hours. However, payment processing fees can quickly cut into your company’s bottom line. If you are currently paying PayPal business account fees, you’re likely spending more than you realize. With PayPal business fees, you’re paying a fixed-rate fee […]
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