Merchants get solicited to switch their merchant processing all the time. When they switch, merchants don’t realize that they need to close their old merchant account. If they don’t, it is like leaving an old bank account open, and the bank racks up fees. A merchant account is no different. The old processor does not know your account is not being used until you tell … Read More
Does PayPal Have Your Back on Chargebacks?
PayPal is an aggregator. They pile all of their merchants into one merchant account. When you choose to process with your bank or an independent merchant services provider, you get your own merchant account with a unique merchant identification number, i.e. MID#. This merchant account is in actuality a bank account. You are required to apply for the account. You will be asked to provide … Read More