Merchant Identification Numbers (MID) | What You Should Know

Many questions new merchant account holders often have, involve the numbers that come with their accounts; and one such number is the MID. Of course, we have industrious companies such as eMerchantBroker, where calling customer support will immediately get you the answers you need, but sometimes you just want to read and get done with

Missing More Card Payments | Increased Card Usage

Credit bureau TransUnion, an American company that provides credit information and information management services has recently reported missed payments on credit cards issued by lenders are higher than on older cards. Credit Card Processing Almost 3% of outstanding balances on credit cards given out in 2015 were at least 90 days behind on payments 6

Same-Day US Electronic Payments. Prior To Phase 2 of Same-Day ACH

According to the Electronic Payments Association, almost $5 billion in US electronic payments were brought in on the same day in October 2016. This happened after the adoption of new rules by financial institutions to accelerate the transfers. The trade group stated nearly 3.8 million same-day transfers (the average amount made up $1.303) were registered

The Importance Of Same-Day ACH

According to new data from the National Automated Clearinghouse Association (NACHA), the electronic payments association that manages the development, administration, and governance of the ACH Network, same-day ACH has successfully started after it was initially implemented in September 2016. In October 2016, ACH counted for 3.8 million transactions making up 55 billion. ACH is the

E-Payments | A Holistic Approach

It’s no surprise that speed plays a key role in payment processing. However, increased speed may result in lower accuracy. B2B transactions should be based on precise payment processing, sourcing and invoicing. Otherwise, the company’s bottom line may be brought into question. Checks Though the modern world of payment processing boasts various technological innovations, checks

With All the New Ways of Paying – Cash Is Still Popular

According to the Federal Reserve Bank of San Francisco’s 2015 Diary of Consumer Payment Choice, though consumers are using new methods to make payments, cash is still popular. It is interesting to note that cash remains the most frequently used consumer payment option. Based on the Fed study last carried out in 2012, cash was

Walmart And Chase. Agreement On Mobile, Online And In-Store Payments

Chase and Walmart has recently announced an agreement due to which Walmart customers can use the Chase Pay digital wallet to make payments in physical stores, online at Walmart.com, and using the Walmart mobile app. ChaseNet and ChasePay are to go live with Walmart this year. Earlier, in September 2106, a deal was signed between

False Declines Vs Actual Fraud During Holidays

Ecommerce merchants are putting all their efforts to protect their business from fraudulent payment processing. Often, eCommerce companies try too hard because of fear of fraud, which results in false declines. The latter is also called false positives and happens when a legitimate transaction is turned down. False Declines False declines are turning into a