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 Telemarketers try to scam merchants into switching their credit card processing by pretending to be their current merchant services provider. They use common words like, “This is your merchant services calling,” instead of mentioning the processor’s name. They tell whoppers on the phone to scare merchants into thinking they are paying too much. Another scare tactic is to frighten
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 Merchants want to get paid fast. The old way of mailing out invoices and waiting for checks to arrive in the mail is becoming a way of the past. The new way to get paid fast is to email a client an invoice with a click-n-pay button. Clicking the button directs the customer to a hosted payment page on
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 Bank fees are higher for cannabis merchants because costs are higher for banks regulated to handle money from cannabis merchants. The regulations they have to follow take lots of extra time for staff to complete. Here are 4 reasons why the bank fees for cannabis merchants are higher than for regular merchant accounts 1. Bank deposit fees are higher.
Click here to watch the video Let’s talk about restaurant POS software and some of the new technologies available, QR code technology for ordering and for QR code technology for taking payments. The benefits are a convenience for your customers all while allowing you to turn tables faster and grow your bottom line. Introducing the QR code for ordering! The QR code can be placed
