Food and Beverage Guides & Resources
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Sep 13, 2019
Filed under: Point of Sale, Restaurant POS
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Merchant Category Codes (MCC): What They Are & How To Find Yours
Merchant category codes, or MCCs, dictate interchange rates, but they also serve other important purposes. See how MCCs affect your small business and what you can do about making sure your business is categorized with the right MCC.
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What Are High-Yield Business Savings Accounts?
Maybe your business has been generating a solid amount of income, and you’ve been storing that cash in a traditional business savings account. You want to make more passive income on your savings, but you don’t want to risk your funds evaporating in a volatile marketplace. A high-yield savings account is the middle ground for business owners in this scenario.
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What Is mPOS? How To Spot The Mobile POS System You Need
An mPOS (mobile point-of-sale) system is a wireless point-of-sale terminal or payment register that’s used for payment processing. mPOS systems are wireless, cloud-based registers that automatically back up and store customer payment data online. They can be used by businesses with physical, brick-and-mortar locations, as well as online stores. Read on for more about what an mPOS can add to your small business.
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What Is A POS Transaction Fee?
Every payment processor you research will have some form of fee you have to pay for every successful transaction. The best POS systems for small businesses offer reasonable flat-rate charges or interchange-plus fees. Small businesses will benefit from flat-rate payment processing, while high-volume businesses should consider interchange-plus processing for the best rates.
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How To Register A Business
Business registration is a necessity for most, but not all, small businesses. Read our guide to learn what you need to legally register your small business, the steps to register a new business name, and how much business registration costs.
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The Top 5 Most Common Merchant Account Complaints
Of course, everyone’s experience with a particular processor won’t be the same. It’s important to weigh the complaint volume of a company against its processing volume. A processor serving a hundred thousand merchants with 100 complaints is a much different scenario from a processor serving ten thousand merchants with 100 complaints. That being said, a processor with a lot of complaints about the same issue should be an immediate red flag.
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Mastercard MATCH List: The Complete Merchant’s Survival Guide
We hope you’re reading this article before you’ve been placed on the MATCH list, but if not, we’ll do our best to explain what it is, how it might affect the way you run your business, and whether there’s anything you can do to get yourself off the list. We’ll also look at alternative payment processing methods.
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What Is An ACH Payment & How Does It Work?
Whether you are aware of it or not, you use ACH to make payments every day. In fact, even when a payment is not called an ACH transaction, a portion of that process might still pass through the ACH network. This is because ACH payments form the backbone of money transfers between US banks.
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What Is A PayPal Business Debit Card?
The PayPal Business Debit Card is linked directly to your PayPal business account. You can make purchases from the card and make ATM withdrawals for a fee. When you use your PayPal Business Debit Card, you get a unique 1% cash-back reward that you usually only see with credit cards. The cashback will automatically get added as a credit to your PayPal balance “weekly as qualifying transactions settle.”
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