Click here to watch the video What is the difference between credit card and pin debit card transactions? Let’s start with credit cards. The credit is linked to the cardholder’s creditworthiness by the card issuing bank. The merchant is offering credit to their customers. If a card is declined at the point of sale, the creditworthiness is ZERO. Do not accept a declined credit card,
Click here to watch the video PIN debit versus A.c.h. And cashless ATM. How do you know which payment solution is best for your cannabis dispensary? Hi, I’m Gingergaye, President of Electronic Monday Company. I’m going to start by talking about PIN debit a little bit. You have a credit card terminal which does only PIN debit, and the customer dips their card and enters
Click here to watch the video B2B stands for business to business. Similarly, B2G stands for business to government. That is opposed to B2C which is business to consumer. In the world of credit card processing, B2B and B2G transactions are at higher risk. Why? Because there is more fraud when employees are tempted to use their business credit cards for personal items. The company
Click here to watch the video Gingergaye here with Electronic Money Company. What is the difference between voiding a credit card transaction and refunding it? If the customer wants to return a product the same day they purchased it, then use the void process from your credit card processor. The ticket will not be batched to your bank. You are charged a transaction fee for
Click here to watch the video When you run a transaction in the credit card terminal, it sends a signal to get authorization and approval for the digital payment from the customer’s credit or debit card. It does not deposit the money into the merchant’s bank account until the merchant batches all of the transactions at the end of the day. Merchants can manually hit
Click here to watch the video Today I want to give you a little demonstration of a very new sleek credit card terminal. It’s called a Pax A 920 Pro and as you can see it’s very sleek and ergonomic. You can swipe a card, dip a card, or you can tap a card. This terminal can be used wirelessly with 4G or it can
Click here to watch the video Let’s Compare Square to a Merchant Account! Square is highly advertised and has brand name recognition. Does that mean that it is the best payment processor for you? Let’s explore. Square is easy to sign up. The application process is easy and simple. I agree. They pretty much take everybody, no matter how small you are or how bad
Click here to watch the video Hi, I’m Gingergaye, President of Electronic Money Company, We’ve been doing Merchant Services for 20 years. I want to talk to you about how credit card processing works. First, I want to give you a quick little background about how it got started. You know it used to be that if you didn’t have enough money you have to
Text to Pay is just like sending invoices in an email with a click to pay button, only using text messaging to send the click to pay button. Just like in an email, the link takes them to a website where they can enter a credit card or debit card for their invoice payment. The newer technology is now Text to Pay. Most people are
Here is a true story about a furniture store that lost a $5,500 chargeback and how it could have been prevented. The customer paid for the furniture over the phone with an approved credit card. The customer asked if the store could deliver the furniture about an hour outside of town, to which the furniture store complied. When the delivery person arrived with the furniture,
Only pay fees on debit card processing.
$0.00 transaction fee on credit card processing
