Remove Accept Credit Card Payments Remove Government Remove Onboarding
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Glossary: 117 software-led payments terms to know

Payrix

Master merchant Payment facilitator that becomes the merchant of record on behalf of a network of smaller merchants (sub-merchants) or billing companies that regularly collect payments; key markets for master merchant networks include government, education, utilities, and nonprofit organizations.

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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

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The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments.

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The Price of Convenience: Is There Such a Thing as Free Credit Card Processing?

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Help them to understand the purpose: By clearly communicating that surcharging is intended to cover the costs associated with accepting credit card payments, businesses can easily help customers understand why the additional fee is applied. Legal and compliance factors to consider: Each of the major card networks (e.g.,

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Glossary: 117 software-led payments terms to know

Payrix

Master merchant Payment facilitator that becomes the merchant of record on behalf of a network of smaller merchants (sub-merchants) or billing companies that regularly collect payments; key markets for master merchant networks include government, education, utilities, and nonprofit organizations.

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Everything You Need to Know About PCI Compliance for Credit Card Processing

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Legal Repercussions If a credit card data security breach occurs and the business is found to have used a non-PCI certified provider, they may face class action lawsuits from affected customers, banks, and credit card companies.