“Static” or “Capped” Reserve
In this scenario, the processor will typically hold 5%-15% of your sales until they have on reserve the equivalent to either (A) one-half of your
In this scenario, the processor will typically hold 5%-15% of your sales until they have on reserve the equivalent to either (A) one-half of your
What is a Rolling Reserve in Payment Processing? A rolling reserve is what some banks use to cover their exposure to risk on accounts that
A common practice in which a cash reserve is established by the processing bank (similar to an escrow account) to protect themselves against catastrophic losses.
Written policy regarding exactly how the merchant guarantees products or services sold to a cardholder. Merchant banks require a written refund policy for each applicant,
The “base” discount rate that merchants are charged on Credit card transactions that are either (A) Card-present sales that are swiped through a POS and
Purchase Cards are credit cards for use by employees of government agencies or corporations. What differentiates purchase cards different from regular credit cards is that
No, not that kind of POS! A Point of Sale Terminal or POS is the hardware used to process credit card or check transactions in
Pinpads are small boxes with a 10-key pad on them. Connected to a processing terminal, they are used by cardholders to enter PIN numbers for
A discount rate that is billed in addition to the “Qualified” discount rate, usually for one of these reasons: (A) a retail merchant passing a
The Electronic Payments Association, formerly the National Automated Clearing House Association. This association controls the regulations governing over 1000 check processing institutions, including eCheck and
10 Town Plaza Ste 162
Durango, CO 81301