Merchant Account Processing
"Merchant services” is an industry term that describes the accounts and equipment a business needs in order to accept credit cards. For any type of business or non-profit to accept credit and debit cards, they need a merchant account. A merchant account is basically an unsecured line of credit. When a sale is made on a credit card, the customer has as much time as they’d like to pay off their credit card. You as the business would likeyour funds without having to wait for that however! So the funds for the transaction come out what’s called a merchant account.
To obtain a merchant account, you’ll need to work with a Merchant Service Provider (MSP) because with the exception of some of the mega-banks like Bank of America or Wells Fargo, you typically can’t walk into a bank to get a merchant account. The MSP sets the rates and fees that you will pay on your merchant account.All MSP’s have the same costs to cover, because they are set by Visa and
MasterCard, so the smallest MSP can be as cost effective as the largest. The fee structure will differ from MSP to MSP, but will always contain a rate, a per-item charge and monthly fees. An MSP can also charge an application fee, a monthly minimum fee, an annual fee and a cancellation fee, with these fees ssvarying widely between MSP’s. In the case of mPOS systems, mobile pin entry devices (PED) are typically connected to a mobile phone through Bluetooth and then use the phone's WiFi or mobile data to connect with the banks. This system does not require a merchant account although the companies that offer this type of service will still have a relationship with an acquirer. The cost of payments made through mPOS There is usually also a charge for buying the device from the mPOS system provider.
At Aqualtscards,we have multiple processor & Aquirer with whom we can place your business according to your requirement. It can be a Pos terminal, Face to face swipe or Ecommerce solutions. we support all types of business from top to bottom & to almost all countries except very few. we can easily place buisness globaly without any hassel.and smooth processing system.