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What are merchant services?

There is more to merchant services than simply processing credit cards. There is more than one way to accept safe and effective payments. Regardless of your online or off-line status, always accept debit or credit cards from your customers. Merchant services will not only provide you with any needs during the payment process, but also with an abundance of payments, payments to be made online, e-commerce, repetitive invoicing, endless integration and much more, there are many methods to choose from when receiving payments. We will combine your necessities and your given budget when we provide you with the trustworthy payment handling.

Characteristics such as what business you own, what your plan of action is regarding incoming payments, this includes payments via telephone or direct payment, your past credit endeavours and your proceeding skills are what our merchant card services really entail. But don’t worry, our specialists in card payment at Stanmore will gain great knowledge on how you and your vocation can arrange future strategies that will fulfil all your needs.

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. Tap into the expertise of one of our payment solution experts to deliver the perfect product for you.

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. When your payment is being processed and will soon be accepted it falls in the hands of our merchant accounts. 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 Stanmore, followed by EPOS till system and process of credit cards.

What are the benefits of having merchant services?

Merchant services will give your company the opportunity to allow your customers to pay you via credit or debit cards. For scrub that Every day, more customers are insisting on being able to pay using their card, and based on the current conditions, fewer people choose to handle cash due to the concerns that come from the pandemic. By having a merchant account, your business can accept payments digitally, and reduce the inconvenience of allowing them to use cheques or cash. Merchant services are essential to small businesses in order to monitor the growth and increase in credit or debit card payments. By taking advantage of our merchant services, your payment process will definitely benefit, by becoming a secure way to pay for goods. We are able to equip you with merchant service solutions in just a few days.

Merchant services and misconceptions.

Acquiring a merchant account means more than completing an application is required. Having an approved account comes with a wide range of terms and processing rates the business user will need to agree on. it can be quite simple to use a merchant account, despite any confusion at the start. They can be intimidating if you don’t understand what you’re signing up to. A willing fall merchant service provider scrubber provider will going to more detail and help you with your application process. In order to choose the right one for your business you must dig deep on any myths and misconceptions you may know about merchant accounts and find out the truth. There is a myth surrounding merchant services, that means it is expensive to get started with a merchant service. Merchant services can be complex, so it is understandable for a business owner to ask what it is going to cost to start.

Another example of a misconception surrounding merchant services is that they cost quite a bit of money to start up. If you own a small business, choosing the right merchant service provider will ease your merchant life and make it more beneficial. There are various sides to the service that you must think carefully about prior to choosing a new provider for your business. Wireless terminal solutions is here to help you see your way out of your contract. Offering several paths into finding better rates and fees and providing superior merchant services as a result.

Key benefits to using our merchant services in Stanmore.

The use of our merchant services has many advantages. Regardless of the size of your business, we offer quick and simple solutions through our merchant account. Our goal is to create a turnkey solution that helps you succeed online. We provide in-store services for switches, that are new to cards and many other companies and our goal is to provide the lowest rates available when processing credit cards. People in the UK are choosing to pay with their mobile devices more than ever before and with the contactless limit increased to £45 back in April 2022 eliminating people handling cash, the number of card processing transactions will increase.

Business owners in the United Kingdom are lucky in a variety of ways when it comes to accepting payments and we accept that it is about giving customers a choice, and also the option of paying how they want, when they want. Wireless terminal solutions have made it easier than ever to create a merchant account. If your company is well established you will need a secure payment platform that is easy to use, if you are just getting started, you will need to choose wisely surrounding what payment platform will best suit your company.

Added card security.

Small businesses are responsible for ensuring that the credit card information is safe. Throughout a variety of payment gateways and websites merchant services providers will help to protect you and your customers by managing the payments. All merchant accounts must conform to the PCI norms that will explain how you process use and store all credit card information.

You may not trust anybody to look through your credit card information, gather information on working with a provider that complies with PCI. If you are a business owner that currently accepts card payments and you are concerned over security breaches, it is strongly advised to keep your contact details up-to-date with the relevant merchant acquirer. Your merchant services purchaser can be contacted online or directly.

Fast payment settlement.

Same day settlement means you will receive money into your account for your in-store services much quicker. Credit card processing and merchant services provided by wireless terminal solutions allow access to these funds right away. During the current climate, many businesses are geared around quick turnaround and needing fast payment settlement. Get absorbed in the daily management of your business with our comprehensive merchant 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. Please note – same day settlement is only available to some businesses, and dependent on various factors. In general, the merchant acquires discretionary power and other factors, including the way you negotiate on 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. Merchant services can give your business support it needs to be paid on time and in full, regardless of whether or not you have poor credit history, we specialise in merchant services that are highly in demand. Our merchant services can assist you in overcoming the credit crisis by accepting credit card payments and related products.

Every aspect of merchant services has helped business owners with many aspects of payment options and wireless terminal solutions have been assisting business owners for over 12 years in order to meet their needs.

Take advantage by accepting or debit and credit cards.

The benefits of accepting merchant services and card processing are numerous. Credit card companies can indeed grow their customer base. The option of accepting payment by credit card will facilitate the experience for the merchant. 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 businesses that are small medium or big so that we are able to manage and fully develop your company.

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

Once your company has a merchant service account, you will have to decide what kind of card machine it needs. This is all dependent on the type of business they are and how they engage with their customers. While there are various carmakers in the United Kingdom, some of the best include Ingenico, VeriFone, PAX, Spire and Castle. We are payment experts as far as card machines are concerned and we offer the best card machines around. As they are designed to advance your business. We have one mark distributor feet budget on configuration. You must take advantage of the benefits when it comes to owning your own card machine, renting an assured long-term lease is also an available option. Countertop card terminals which include ethernet and phone line connection or mobile solutions that include Wi-Fi Bluetooth and Sim card enabled products are the main types of colour machines for business owners to use. They all include an array of benefits and owners will benefit from these transactions as their processing fees are quite slow.

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.

You can take your business one step further if you include our innovative products. Take any business to the next level with our innovative 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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