29 Mar

If you say merchant services, you are referring to a broad concept. For starters, they cover various facilities that enable individuals and businesses to allow credit card payments online. Merchant services are often provided by banks and independent payment service providers. Some banks provide a comprehensive set of merchant services while some of them choose to work with other independent payment service providers.

There are basically two major merchant services that you can choose from. The first one is the internet merchant account. This is a unique kind of bank account and is a requirement for any business or person who wants to process payments online. It is never enough to set up just your own business account to carry on with microsoft dynamics gp credit card processing. The moment money is obtained from the credit card or debit card of your customer, it would first go through the merchant account that you have set up. Only after proper validation is done can they proceed to be transferred to your regular account. Banks follow this process because they want to make sure that they will never run out of money to give back to the cardholder if they ask for a refund or will issue a chargeback. However, there is a particular period for the settlement to take place between the bank and the merchant. In short, security is the major reason why merchant accounts must be established.

The second one type of merchant service is the payment gateway. This is a merchant service Indianapolis that allows the merchants to process credit card payments with the use of a website. There are some banks that have their own payment gateways. On the other hand, most of them work with independent payment service providers that specialize in this area of making payment. The payment gateway provider also provides a general payment page. This is a good option for merchants who avoid processing payments using their own servers. This provider also takes charge of making sure that there is a secure connection between the merchant and their gateway of choice. Moreover, they make sure to keep the details of their customer cardholders safe and secure.

Aside from these things, payment gateway providers make sure to provide their merchants with adequate security tools. This ensures that fraud issues are prevented if not eliminated for good. Some providers offer their merchants with software that is widely available and compatible. This software scheme should allow the customers to create another password using their payment cards. Some merchants even go above and beyond when it comes to their security by developing their own software.

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http://www.businessdictionary.com/definition/merchant-services-provider.html 

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