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…
Cash flow banking is a term used to describe the process of managing a company’s liquidity by optimizing its available cash and short-term investments. The goal of cash flow banking is to ensure that the company always has enough cash on hand to cover its day-to-day expenses, while also maximizing the return on its short-term…
A merchant cash advance (MCA) is a type of business loan that gives companies quick access to funds in exchange for a percentage of their future credit card sales. MCAs are an alternative to traditional bank loans, which can take weeks or months to obtain and often require collateral. With an MCA, businesses can get…
Small business merchant services are a way for small businesses to process payments. This can be done in a variety of ways, but the most common is through a credit or debit card. The business will need to sign up for a merchant account, which is then linked to the bank account. When a customer…
A payment processing system is a computer system for processing payments from one party to another. In the context of e-commerce, it is the process by which a customer’s credit card or bank account is charged for the purchase of goods or services. The payment processing system will often authorize or decline the purchase based…
A payment gateway is a service that allows businesses to accept payments via the Internet. The payment gateway encrypts the customer’s credit card information and transmits it to the merchant’s bank. The merchant’s bank then verifies the credit card information and authorizes the transaction. What are the benefits of using a payment gateway? If you’re…
When you’re ready to start taking payments from your customers, you need to set up a merchant account. This is a special bank account that’s used to hold and process payments. Here’s a step-by-step guide for setting up a merchant account: 1. Choose a Payment Processor The first step is to choose a payment processor.…
Cardano is a decentralized public blockchain and cryptocurrency project that is developing a smart contract platform. The ADA cryptocurrency is used to send and receive payments on the network. Cardano is unique in that it was created by three organizations: Charles Hoskinson, IOHK (the creator of Ethereum), Emurgo, and the Cardano Foundation. The Cardano Foundation…