High risk merchant services are a type of payment processing service that is designed for businesses that have a higher than average risk of chargebacks. This can be due to the nature of the business, the products or services offered, or the customer base. Some high-risk businesses include: • Adult entertainment • Debt collection •…
A mobile point-of-sale system, or mPOS, is a mobile device, typically a tablet or smartphone, that merchants use to accept payments from customers. mPOS systems can be used to accept payments in person, such as at a retail store, or remotely, such as on a website. There are a number of factors to consider when…
Mobile payment processing is the ability to make payments with a mobile device, such as a smartphone or tablet. This can be done with a dedicated app, through a website, or even by using text messages. In order for this to work, you need to have a credit or debit card that is linked to…
A merchant identification number (MID) is a unique number assigned to a merchant by a card-issuing bank or network. The MID is used to identify the merchant to the card-issuing bank and the card-processing network. The MID also may be used by the merchant to track sales activity and payments. For example, a MID may…