How to understand your Merchant Account Statement

Your monthly merchant account statement tells you how much cards you have accepted, what kind of cards and how much your merchant acquirer is charging.  But do you really understand the total cost of each transaction and the “extras” that come with a merchant account?

Card processing, how does it work ?

I am always amazed at how seamlessly card processing works when you consider the chain of inter-linked IT networks that authorise and settle each transaction.  Its not the complexity of these networks or their sheer size, reach and cost which is amazing,

The Card Payments Industry

Payments used to be simple……..banks accepted and made these on behalf of customers with cash or cheque.  Banks had branches and all transactions were conducted through those branches.  Then, in the 1950’s along came Diners, Visa and Mastercard and

Pay As You Go and Mobile card acceptance

For low volume merchants, card acceptance used to be economically unviable.  Now the card payment industry has at last followed the lead of the mobile phone industry and introduced a number of mobile card acceptance / Pay As You Go … Continued

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