How Fast Can a Merchant Get Their Money From a Credit Card Processing Batch?

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

When a merchant closes their credit card batch for the evening, most processors collect those batches and send them off to the merchant’s bank after midnight. The merchant’s bank receives those funds and posts them the same day. They are available in the merchant’s account 24 hours later, or the following day. So Monday night’s batch goes to the merchant’s bank in the wee hours … Read More

From Credit Card Terminals to Tablet Enterprise Systems!

Ginger HollowellPoint of Sale Computer/Tablet SystemsLeave a Comment

The credit card terminal is going to the land of the dinosaurs. It doesn’t cost much more to buy a tablet than a terminal, and the tablet has the power to run your whole business management and marketing along with your payment processing. Monthly licensing fees are charged by the software companies ranging from $39.95 to around $495.00. The basics of point of sale, inventory … Read More

Freezing of Funds

Ginger HollowellCredit Card Processing/ Merchant Services, Restaurant POSLeave a Comment

During this time of social distancing and businesses shutting down, some credit card processors are freezing merchants’ funds. Why do they do this? The answer goes back to understanding our system of credit card processing. Merchants are so used to taking credit cards and seeing money go into their bank account that they think credit card transactions are cash transactions. After all, if it looks … Read More

The Coronavirus Aid, Relief and Economic Security (CARES) Act for Small Businesses

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Electronic Money Company is a small business, and all our clients are small businesses. So we thought we would share with you the information on how to take advantage of the government’s CARES ACT to help you cover payroll during this time of economic shutdown. In particular, here is information on how you can benefit from the Paycheck Protection Program. It provides 100% federally guaranteed … Read More

Recent Questions Answered Regarding Credit Card Processing Fees on Refunds

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

In light of the COVID-19 pandemic, we have been receiving a lot of calls on this subject. First and foremost, there should be no fees on the refund. If your processor is charging the percentage rate for refunds, consider a new processor. Some have asked about getting a refund on the fees from the original credit card transaction. So, I thought I would give you … Read More

Advice on Growing Your Business While You Prevent the Spread of Coronavirus!

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Paper money carries germs. How many people have touched that $1 bill that you just received as change? Using your credit or debit card limits touches to non-sterile paper money and limits exposures to viruses, especially the Coronavirus, which lives on inanimate objects for up to five days. Here are some small ways that merchants and consumers can use best practices to help prevent the … Read More

Protect Your Business Against Payment Processing Fraud!

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Payment processing fraud is erupting! According to a San Francisco digital trust and safety company, Sift, there was a 73% surge in online fraud in 2019. And most believe there is even more to come in 2020. Massive amounts of people are seeing their credit card and banking information exposed to massive data breaches day after day. Although Internet theft remains most prevalent, hackers and … Read More

How Can Mobile Payment Processing Help Grow My Business?

Ginger HollowellPoint of Sale Computer/Tablet SystemsLeave a Comment

Mobile processing isn’t just for businesses that are only mobile; it is also for brick and mortar businesses. If you are a retail shop, then can you understand how it might be advantageous to take the cash register to the customer? This could capture more impulse sales. Also, a mobile payment station can speed up check out times. This will alleviate lines and save your … Read More