Click here to watch the video How do you close a merchant account? Maybe you’re closing your shop. Or maybe you’re just switching credit card processors. But closing a merchant account is very similar to closing a bank account. I’m Gingergaye with Electronic Money Company. You can’t just call up the processor and say, “Hey, I’m closing my account”. They want to see the signature

Click here to watch the video Gingergaye here with Electronic Money Company. Let’s talk today about what’s the process is to get an application for credit card processing. First of all, the application has to be signed by the owner or an officer of the company and if there are multiple owners, anybody owning 25% or more has to sign that application. What kind of

Click here to watch the video Standard Operating Procedures Reconciling Credit Card Transactions Credit Card Terminals print out a receipt for the customer and a merchant copy with a signature line for the customer to sign.  The merchant is encouraged to save every signed receipt.  Most merchants put them in the cash drawer until the end of the shift or day. At the end of

Click here to watch the video Today I want to talk to you about the requirements needed in order to open up a merchant account for true PIN debit payment processing. True PIN debit is fully legal and compliant. Just like cash, the debit card cannot be charged back. The requirements to open a merchant account are very similar to the requirements for opening a

Click here to watch the video I want to talk to you about the three main benefits of true PIN debit payment processing for dispensaries. Listen to all three, because the third one saves you a ton of money. The first benefit is that PIN debit is fully legal and compliant. The cashless ATM was fraudulent. It was posing as an ATM machine, but really

Click here to watch the video Here’s how small businesses can claim their share of free money from the Government Employee Retention Credit, up to $26,000 per employee! Go to this website NOW and schedule a call to find out how much FREE money you can get from the Government. We at Electronic Money Company, have been approached by a company that specializes in grants,

Click here to watch the video Restaurants and even retail businesses can add a tip line to a credit card receipt.  The general option is to have a line where the customer can handwrite in a tip. Then the merchant needs to adjust the transaction with the tip before batching the terminal at the end of the day or shift.  Batching sends the money to

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