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PCI-compliance is a vital step towards your business success, and that is why you should complete the SAQs and AOCs before the year ends. You do not only hold proof that you are PCI-compliant but you also avoid paying non-compliance fees from merchant account providers by being non-compliant. You can be charged up to $40 per month if you are non-compliant.
Payment processors are companies, usually third-party, that handle payment transactions between the merchant and customer by relaying payment information from the customer to the merchant’s bank account. They enable merchants to receive debit or credit card payments online by providing a connection to an acquiring bank.
In the merchant services industry, the scene is so active and almost saturated that merchants no longer felt the need to fear that a certain company will monopolize the industry, which sometimes leads to underwhelming services that are left unchecked.
e Check is a mode of payment that relies on the ACH network to process payments. With e Check, money is withdrawn from the payer’s checking account, transferred over to the ACH network, and then deposited into the merchant’s checking account.