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?
Historically for most merchants, payment processing services are bought from their high street bank because of trust and familiarity. But do those merchants know who now owns those businesses and who runs payment processing on behalf of the high street … Continued
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,
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
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