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Merchant processing refers to the handling of electronic payments made by customers through credit or debit cards, mobile payments, and online payments. This involves the processing of transactions, including authorization, settlement, and reconciliation.

Merchant processing fees vary depending on the provider and the type of transaction. Some common fees include interchange fees (charged by the card networks), processing fees (charged by the merchant processor), and monthly fees (for access to the payment gateway and other services).

A chargeback occurs when a customer disputes a transaction and requests a refund from the merchant. The customer’s bank then reverses the transaction and issues a refund to the customer. Merchants may be subject to chargeback fees and penalties if they receive too many chargebacks.

A merchant account is a type of bank account that allows businesses to accept electronic payments from customers. It is used to hold funds from card transactions before they are deposited into the merchant’s regular bank account.

A high-risk merchant account is designed for businesses that are considered high-risk by banks and merchant processors. This may include businesses in industries such as adult entertainment, online gambling, or debt collection. These accounts typically have higher fees and stricter requirements.

A payment processor is a company that handles electronic payments on behalf of merchants. They facilitate the authorization, settlement, and reconciliation of transactions, and provide merchants with the tools and services needed to accept payments.

A merchant cash advance is a type of funding in which a merchant receives a lump sum of cash in exchange for a percentage of their future credit and debit card sales. This can be a useful option for businesses that need quick access to capital but have poor credit or limited collateral.

A merchant cash advance is a type of funding in which a merchant receives a lump sum of cash in exchange for a percentage of their future credit and debit card sales. This can be a useful option for businesses that need quick access to capital but have poor credit or limited collateral.

A chargeback mitigation program is designed to help merchants reduce the number of chargebacks they receive. This may include tools and services such as fraud detection, chargeback alerts, and dispute resolution services.

A point-of-sale system is a combination of hardware and software used to process sales transactions in a retail or restaurant environment. It typically includes a cash register or terminal, a card reader, and software for managing inventory and sales data. Some POS systems also offer additional features such as loyalty programs and online ordering.

PCI compliance refers to the security standards established by the Payment Card Industry (PCI) for businesses that accept electronic payments. Businesses must meet these standards to ensure the security of customer data and protect against fraud.

A mobile payment is a type of electronic payment made using a mobile device, such as a smartphone or tablet. Mobile payments can be made using a variety of methods, including mobile wallets and contactless payments.