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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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Credit Card Processing for Small Business: 9 Tips for Accepting Payments Securely and Cost-Effectively

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Providing your staff with education on how to handle customer data can help prevent data breaches that even a well-intended employee might cause. This process requires a merchant account, which is a special type of bank account that allows businesses to receive payments in multiple forms, including credit and debit cards.

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Visa Interchange Rates 2024: What You Need to Know

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If your company accepts credit card payments ( which it should ), chances are, you’re going to be affected by Visa’s interchange rates. Visa is one of the biggest payment networks in the world, with ~4.2B cards currently in use. So it’s virtually impossible for a business to not accept Visa cards.

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Can You Decrease Credit Card Interchange Fees?

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These fees help cover the costs of processing the payment and maintaining the card network. Interchange fees themselves are non-negotiable and they’re charged whenever a merchant accepts credit card payments.

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The 12 PCI DSS Requirements to Ensure PCI Compliance

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According to a report by the Federal Reserve Bank of San Francisco , credit card usage among Americans has been steadily increasing since 2016. In 2022, 31% of all payments were made using credit cards. This shows that businesses cannot ignore accepting credit card payments.

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What Merchants Should Know About Non Cash Adjustment Fees When Implementing Cash Discounts

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In-store personnel, especially those at points-of-sale, should be educated on cash discounting and surcharging, so they handle customer queries better and resolve payment issues faster. This way, they will be able to handle customer queries better and resolve any payment issues faster. Out of this, a whopping $126.35

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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.