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

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Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments. Understanding its importance and preparing accordingly is a must, especially for businesses that need to accept payments online and in-person.

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Payment Gateway vs Payment Processor: What You Need to Know

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No – requires a payment processor to complete transactions Yes – for in-person transactions; needs a gateway for CNP transactions Provided By Often bundled with eCommerce platforms (e.g., Shopify Payments, PayPal, Stripe) Often provided by banks or payment service providers (e.g., Q: When should I use a Payment Processor?

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The Ultimate Guide to Accepting Credit Card Payments

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This can be done through a variety of channels, which include but are not limited to: Point of sale (POS) terminals Mobile pos terminals Mobile card readers Mobile apps Online payment gateways These channels enable businesses to accept payments securely and conveniently, no matter where or how their customers choose to pay.

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

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All of these steps are made easy by a surcharge-compliant credit card processor like CardX by Stax. The benefits of surcharging include cost recovery, competitive pricing, financial flexibility, and payment method diversification. Credit card processors play a critical role in facilitating surcharging.

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Everything You Need to Know About Credit Card Processing

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Payment Processor: The credit card processing company handles the processing and batching of purchases made with credit, debit, or gift card payments. They typically assist with technology needs and customer service as well, acting as an intermediary to the card associations and banks.

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What Is Tiered Pricing in Credit Card Processing?

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Accepting credit card payments at your business is a surefire way of increasing customer satisfaction and retention. Over 80% of American adults owned at least one credit card in 2023. Also, credit cards contributed to 27% of the spending at point-of-sale (POS) systems worldwide.

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

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Review the fine print carefully and ask about things like: Contract length Termination clauses Rate changes over time Equipment leasing terms (if applicable) Final Words Stax is an ISO and proud to deliver the best payment technology solutions to drive success for every business type at scale.