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What are merchant services?

Merchant services aren’t just about credit card processing. You have various options when it comes to accepting incoming payments in a secure and efficient manner. Welcome your customers credit and debit cards, both online and off-line. Payment process, all aspects of payments, online payments, e-commerce, recurring invoicing, and all types of integrations are some of the many services that merchant services cover when you wish to receive payments. Your needs and your budget will be taken into account by our secure payment processor.

Merchant card services located in Penryn include a multitude of defining aspects, such as what field your business is in, how you expect to be receiving payments, in person or over the phone, your credit past and past experience. No need to worry our payments by card consultant will conduct a thorough insight as to what makes it possible for you and your business to come up with an arrangement that’s right for you.

In order for you to fulfil your customers needs we gather knowledge that will lead us to create any credit or debit card payment solution. Would you like to know what types of products we offer or which one is right for you? Get in touch with one of our experts today.

Are business bank accounts the same as merchants bank accounts?

It often confuses business owners who are new to the world of payment processing. An enterprise bank account corresponds to the expenses related to the overall operation of your company. Merchant accounts are solely about processing and accepting incoming payments by credit or debit cards. Any aspect of merchant services, we specialise in, and we are aiming to provide a thoroughly planned out platform that will be accessible to business owners in Penryn, followed by EPOS till system and process of credit cards.

What are the benefits of having merchant services?

Merchant services will offer your business the ability for your customers to pay you, using their credit or debit card, this also includes pay and wave transactions which is up to the value of £45. The option of paying by credit or debit card has become much more in demand and ever since the pandemic took place. If you have a merchant account, you are eligible for digital payments instead of simply accepting cash in hand. Merchant services is a necessity for small business owners to keep up with the times as the growth in card payments goes from strength to strength. Take advantage of our merchant services, and you can provide a fast, safe, and secure way to pay for goods and services by card via physically or online. We are able to equip you with merchant service solutions in just a few days.

Merchant services and misconceptions.

To get a merchant account for your Penryn company, one application will not suffice. All the terms, and processing rates must be discussed and agreed upon by the business owner before an account is approved is that merchant account. If your initial thought is that using merchant accounts is difficult, there is no need to worry they are easier than they look. At first they can be quite daunting if you’re not familiar with what you are getting into. A distinguished merchant service provider will explain in more detail and support your business throughout your application process. Make sure you choose the right one for your business by checking out these merchant account myths and discovering the real truth. Another example of a misconception surrounding merchant services is that they cost quite a bit of money to start up. Merchant services can be complicated, so it is natural for a business owner to wonder how much it will cost to get started.

There is also a myth that merchant services are very costly to start up. When you own a small business and you are looking to increase profit and simplicity, you must think carefully before choosing your merchant services providers. There are many different aspects of the service that you should consider before selecting the right provider for your business ‘I’m stuck with my existing acquirer’ is another common misconception. Wireless terminal solutions are available to help you free up your contract and introduce you to different rates and fees that may benefit your company.

Key benefits to using our merchant services in Penryn.

Using our merchant services will provide you with a multitude of advantages. We are one of the leading merchant account providers in Penryn, providing quick and easy solutions for businesses of any size. Our goal is to create a turnkey solution that helps you succeed online. If you are looking for the lowest rates available on credit card processing, our merchant services will provide. As the contactless limit was raised to £45 in April of this year, people in the UK chose to pay by their mobile devices more than ever. This means the number of card processing transactions will grow stop

We understand that customers are free to pay how they want, and when they want. However transactions by card are safer. Wireless terminal solutions have made it easier than ever to create a merchant account. Regardless of whether your business has been around for a long time or is new, selecting our payment platform will simplify the setup of all of your payment options.

Added card security.

Small businesses are responsible for ensuring that the credit card information is safe. Merchant service providers will help keep your customers safe and secure by managing your payments on various payment gateways in different websites. Merchant accounts need to be PCI compliant, meaning the payment card industry data Security standard, which provides a universal standard for how to handle, use and store credit card information.

You mustn’t rely on anyone to monitor your credit card details, working with a provider that is PCI compliant will help you avoid this situation. If you are worried about security vulnerabilities in your business, and you accept card payment it is advised that your contact information is accessible and up-to-date. You may do so online or by getting in touch with the purchaser of your in-store services directly.

Fast payment settlement.

You may receive your money in your account from your merchant services on the same day. With credit card processing and merchant services from wireless terminal solutions, you are granted access to your funds right away. In the current environment, many businesses are focused on not only timelines but timely payment settlement. Insert yourself into the daily operation of your company thanks to our extensive dealer service. Get access to your money quicker than ever and cut down on costs for payment processing – you can get a free quote if you call us today. You must note that, same day settlement will only be accessible to select businesses as it depends on a variety of factors. Generally, the merchant acquires discretionary power and other considerations, this includes your negotiation skills and the nature of your business. Same day settlement service on your merchant service account simply allows business owners to receive money from clients.

Offer flexible payment options for your customers.

In the current climate, we must offer a number of options in order to receive payments from clients. In order to get paid on time and in full, regardless of your credit record, we specialise in high risk merchant services. It could give your business the help and support it needs. Our merchant services will help you in order to avoid a credit crunch by accepting anything related to a credit card payment and such.

For at least 12 years, wireless terminal solutions have created a different systematic approach to many aspects of merchant services that have assisted business owners in providing a number of different payment options in order to meet their specific needs.

Take advantage by accepting or debit and credit cards.

The benefits of accepting merchant services and card processing are numerous. Companies that accept credit cards can do so by increasing their customer base. Moreover, the possibility of accepting payments by card gives the merchant peace of mind. Our merchant services and different types of payment technology is only being used by thousands of retailers and companies across the UK, if you’re interested in joining this movement in merchant processing, contact us today. We work with small and medium-size companies. So we can manage and grow with your business.

What types of card machines come with the merchant service account?

Deciding what type of card machine suits your company should be done after you have a merchant services account to your business. This is all dependent on the type of business they are and how they engage with their customers. There are various card manufacturers in the UK, the main ones being in Ingenico, VeriFone, PAX, Spire and Castle. The hardware is designed to ensure that your business grows, therefore we are experts when it comes to card machines and we offer nothing but the best. We have one mark distributor feet budget on configuration. The advantages of owning your own card machine are numerous, while you can also rent if you do not wish to purchase one. The main types of card machines for business owners to use are, CounterTop card terminals, definite/phone line connected, all mobile solutions including Wi-Fi, Bluetooth and Sim card enabled products. Every single one comes with a variety of benefits and owners will benefit from stress free transactions and lower processing costs.

The Ingenico Move/5000 card machine is the next generation of credit card machine and boasts lots of benefits including a tri communication connectivity that can be set up in less than a minute, this compact contactless enabled card machine provides owners everything they need to accept debit and credit card payments. The move 5000 payment terminal is capable of processing chip and pin, contactless and near field communications, NFC.

Your business to a new level with our ingenious products.

Introducing the move 5000 payment terminal, equipped with multiple connection options. The move 5000 mobile payment terminal provides a unique blend of cutting-edge hardware and is available on a rental agreement to meet the needs of your business.

FAQs

What are the benefits to having merchant services?

Put quite simply the opportunity for increased Sales. The last decade has seen the amount of businesses accept card payments with merchant services grow tenfold. It is fact, that more payments have been made by cards than by cash in the last few years.

What are merchant services?

Any money your business processes from card payments go into the merchant services account before being transferred to the business bank account. Merchant services is an online bank account set up with a merchant services provider, so it’s separate from your business bank account.

What are some of the key advantages to having merchant services?

The list is extensive, but here are just a few examples:
  • The ability to accept card payments from customers
  • Merchant services increases sales because customers are not restricted to cash only purchases
  • Merchant services provides new opportunities for sales via telephone mail order and online
  • Increased impulse purchasing opportunities as people go from browsers to buyers

How will the introduction of merchant services benefit my staff?

Introducing merchant services means staff handle less cash, reducing the potential for simple mistakes.

How long does a merchant services application take?

In most cases a merchant services application takes anything from 2 – 5 working days, once the customer has completed all relevant documentation. Every merchant services application is different and this can be based on the way the business operates, what they sell and where they trade from.

How to be kept up to date with a merchant services application?

All reputable providers should assign a dedicated account manager who manages all aspects of the merchant services application, and should keep all suitable parties involved in the merchant account application up to date.

Where do I get a merchant services application form from?

You will need to contact an affiliated merchant services acquirer (this can be a bank, ISO or independent seller) which you can source through Google. They will support and guide the business through the merchant services application form.

How do you get help with your merchant services application?

All companies who offer merchant services facilities should provide an infrastructure to provide merchant applicants the necessary support where required. If you are unsure, ask when you make an enquiry.

What documentation do I need to provide on a merchant services application?

In most cases the customer or business will need to provide proof of their business bank account. In addition, proof of ownership/director and copies of passport and address may be required. Everything will be outlined on the form and it is mandatory regardless of which merchant acquirer you use.

When I switch merchant services do I terminate my current agreement?

Everything should be outlined for you. If you are unsure check your current agreement. There have been instances where people have cancelled their merchant services agreement and then been penalised as they have broken their contract.

Who is my merchant services agreement with?

You should receive a monthly merchant services statement detailing all transactions and any relevant charges. Some businesses work with independent suppliers or an ISO but they will have a direct relation with one merchant acquirer. If you are unsure speak with them.

Who settles my funds on my merchant services?

This will always be done directly by the merchant services acquiring bank. Even in instances where your relationship is with a third party or ISO all settlement funds are never, at any time, held by a supplier.

What is the cost for terminating my merchant services contract?

This should have been outlined in the initial set up. In this instance we would suggest referring back to the original agreement, and if not speak with the acquirer outlining what implications there are for terminating the merchant services agreement.

Should I worry about PCI compliance on my merchant services account?

PCI DSS standards exist to protect the security of your customers’ credit card data. All UK based merchant accounts need to be PCI compliant and there is a criteria of requirements. It is paramount that every business that uses merchant services has this. This should be outlined in your merchant services agreement.

How to add AMEX to my merchant services account?

This should be offered at the time of setting up the merchant services account application. If you need to add this midway through the account, speak with AMEX at their Brighton offices and they will assist in getting this added to your merchant services account.

When do I receive my funds on my merchant services account?

In most instances it is typically 3 days but any restrictions should have been outlined at the time of signing up. In some cases some merchants are able to offer next day funding but this isn't available to everyone.

Do I get separate merchant services account numbers for debit and credit cards?

You will have one merchant number for face to face transactions that apply to all debit and credit cards. If you accept AMEX that will be an additional merchant services account number. If you were looking to accept payments online, or via your website you will need a separate merchant account set up.

How are my monthly fees paid on my merchant services account?

Monthly merchant fees are automatically debited from your business bank account normally in first week of each month for the previous month’s fees. This will be outlined and differs from each acquirer.

Can a sole trader have merchant services?

Yes. Anyone who is trading regardless of whether they are a sole trader, limited company or multinational retail establishment can accept debit and credit cards.

How long should I keep my merchant services transactional documents?

Most financial establishments in the merchant services industry recommend you to keep all transactional data and documentation for a period of at least 18 months.

How do I order an additional card machine for my merchant services account?

Speak with the merchant services acquirer, or speak with a card payment specialist.

Can I accept payments in more than one currency on my merchant services account?

Yes. It is advisable to check with the relevant merchant acquirer to see if this is possible. We suggest speaking with the relevant merchant services provider to discuss the currency you wish to trade in and how you wish your account to be settled.

What types of card machines come with a merchant services account?

You have 4 options. You have the mobile option which connects via a roaming SIM card. You have the portable option which connects via a router. The popular Wi-Fi card machine or the traditional countertop card machine which is popular for retail businesses who use merchant services account.

What do merchant services cost?

Some merchant services providers charge a set up fee, others don't. You will then have merchant services transaction fees, which is a set fee a business would pay on debit and credit cards for each transaction. In this instance, it is normally a flat rate or a percentage and you may have to pay an authorisation fee.

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