When a merchant wants to use high risk credit card processing, he has three expectations from the company:
• Understandable processes
• Unvarnished truths
• Unmatched customer service

High risk echeck processing is complex for different reasons. No one can make it easy for you; however, a good high risk merchant service provider can help you to understand the entire process which would make things easier for you. The merchant service provider will go through your contract with you. It will guide you through the process. It will also answer your questions quickly and in detail.

A good merchant service provider is the one that tells you the way things are even when it is not a popular practice. You cannot understand check processing until someone decodes every aspect of it for you. As a merchant, you should know what to watch out for and what you are paying for. Rates are not the only thing you should consider when choosing a merchant service or echeck processor. There should be partnership, transparency and understanding.

In the modern era, reliable customer service makes a huge difference. People do not like number picking and computer voices. People like to talk to humans about their problems. It is why reputable merchant service companies have customer service teams which are available to you round the clock. Customer service helps new and existing merchants to understand their statements and deals with different issues and everything relevant.

Nowadays, merchants have three types of businesses:
• Brick & mortar
• E-commerce or web based
• Mobile

A merchant can have different types of brick & mortar businesses such as; veterinarians, auto repair shops, dentists, hairdressers, florists, bakers, butchers etc. Regardless of the type of business you run, if you have a storefront or an office, you will need a reliable payment system. It will be the right solution for your organization.

Top class merchant services provide their merchants with features like:
• Counter-top terminals
• Mobile wallet
• EMV chip cards

Counter-top terminals include point-of-sale devices and card swipers. Nowadays, technology has advanced enough to get customers checked out very quickly without any security issues. It authorizes, settles and manages transactions and payments from the merchant’s retail location with the help of counter-top terminals. For increased efficiency and streamlined operations, electronic payments are integrated into the point-of-sales systems. Customized retail payment systems enable merchants to do business the way they want. It is very helpful if one needs to physically swipe credit cards in a store or office.

A mobile wallet is a great way for merchants to accept payments from customers. It is an umbrella term which means making payments from a mobile device like a smartphone. There are many smartphone apps for mobile wallets that offer access to loyalty cards, credit cards, debit cards. Some of the popular mobile wallet apps are:
• Starbucks
• Google Wallet
• PayPal
• Apple Pay

The process is very simple. Purchasers hold their smartphones near the point-of-sale terminal to pay for their transaction. The terminal is equipped with the NFC (near-field communication) capabilities.

The trend of mobile wallet transactions is getting very popular. In 2015, there were mobile wallet transactions of more than $7 billion. This year, it is expected to grow to $54 billion. In the future, more businesses will need the capability to accept payments from mobile wallet transactions because more consumers will be mobile wallet enabled. For that, technologically advanced counter-top terminals will be required. The good merchant services companies have the right terminals for merchants to accept mobile wallet transactions.

Many merchants are not aware of what EMV stands for. It stands for Europay, MasterCard and Visa. It is a technical standard for machines to accept smart payment cards. Some people also call EMV as chip cards. The data is not stored on magnetic stripes. In fact, the data about the cardholder and card is stored on integrated circuits. However, the chip cards still have a magnetic stripe. It is for compatibility with merchants because many of them have not upgraded their terminals yet. The traditional magnetic strip cards are more open to counterfeiting as compared to chip cards or EMV cards. It is why EMV cards are getting so popular because they are more secure.

Many merchants have a web-based business or an ecommerce shop. No physical products and process online transactions. It is when you need a partner that understands the way things work for you. Unfortunately, most credit card processors will send you a terminal where you will never swipe the cards. It should not happen, and the right merchant services company will never insist you to purchase their terminal.

Ecommerce merchants wish they could run their online business with confidence. For such businesses, there are different categories of payment transactions called “card not present.” In this case, a merchant never gets to see the card, swipe the card, ask for the ID of the cardholder or dip the chip. There are three different products that merchants sell online, which are:
1. Software
2. Intangible products
3. Hard goods

The biggest difference between a brick-and-mortar business and an online business is that the merchants of latter don’t see the card. For online business, merchants need online solutions that work the way they do. It could either be an ecommerce payment solution or a solution which is tailor made for the online subscription business.

Many merchants do online businesses through their websites. For that, they need a payment gateway to work with the ecommerce platform. Brick-and-mortar businesses do not need it. It is why reliable payment processors work with several payment gateways. Some of the famous payment gateways are:
• USAePay
• eProcessingNetwork
• Authorize.net

Payment gateways have a complex infrastructure and security measures. It is necessary to ensure secure, reliable and fast transmission of transaction data. Most payment gateways charge a fee which is charged on each transaction. Moreover, it does not appear on the processing statement of the merchant’s credit card. Your merchant service provider will help you evaluate the best payment gateway for your business.

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