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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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Glossary: 117 software-led payments terms to know

Payrix

Payment facilitator (PayFac) A merchant registered by an acquirer to facilitate transactions on behalf of sub-merchants. They provide the infrastructure necessary for their merchants to accept 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.

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What Is an ISO? Everything You Should Know about Independent Sales Organizations

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Faster onboarding and approvals ISOs often have more streamlined underwriting and approval processes compared to traditional banks. This means you can get up and running with payment processing more quickly, usually in days, not weeks. Q: How do ISOs differ from traditional banks in payment processing?

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Credit Card Processing for Small Business: Everything You Need to Know

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Whether you are starting a new online store or looking to grow your existing brick-and-mortar small business, you must make provisions for accepting credit card payments. We have also put together a list of the top three best credit card processing platforms for small businesses.

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Payment Facilitator vs Payment Gateway: Key Differences and Similarities

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At its core, payment processing involves various players and technologies to facilitate the movement of funds from customers to merchants securely and efficiently. Digital payments only take a few seconds, but they flow through many different layers of partners and technology.

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

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Revocation of Credit Card Processing Privileges If a business consistently fails to comply with PCI standards, the processor or acquiring bank may choose to terminate their merchant account. For many businesses, especially those operating eCommerce, the ability to accept credit card payments is crucial to their operations.