Payment Monitoring System: How to Track and Improve Your Payment Performance

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 […]

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 […]

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 […]

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 […]

From tax filing to reconciling invoices, computers are faster and less error-prone than human workers. One way you can improve your company’s internal processes is through business-to-business (B2B) payment automation. These automated tools can deliver more accurate results with fewer labor hours than manual processes. In one study, just 17% of businesses reported that they […]

Payment processors and acquiring banks have to take on substantial risk when processing payments. Because of this, they use the MATCH list for payment processing. This list includes the names of merchants that are considered riskier.  While the MATCH list helps acquiring banks make informed decisions about which merchants to work with, it can make […]