To put it simply, the Cash Discount Program is an option for retailers to be able to reduce their current merchant services fees without having to increase overall rates. It’s essentially a way to adopt a fee for customers to cover these expenses while also providing a discount to the customers choosing to use cash.…
DetailsPayment Card Industry compliance refers to a specific grouping of standards that have been set up to help ensure that customer data is being secured uniformly throughout the industry. MasterCard, Visa, Discover, and American Express set up the Payment Card Industry Security Standards Council over 13 years ago in 2006 with a view to helping…
DetailsFeeling a bit overwhelmed with difficult-to-understand payment processing terms on a merchant services agreement? This glossary should help. Acquiring Bank: An acquiring bank is one that has a relationship with Mastercard and Visa, along with your own bank, and provides credit card merchant services. Also referred to as the clearing bank, acquiring banks are responsible…
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