Credit Card Processing

picture

Credit Card Processing

Also known as Merchant Services this makes it possible for your company to accept credit card payments for goods and services. The decision of which company to use can be difficult, however. The fee structure involved can be difficult to understand, as different rates may be charged for different credit cards. In addition, the rates may depend on the method or amount of the transaction.With E=MC2 funds are sent via the ACH system (Automated Clearing House) within 48 hours and all merchants are required to have a checking account that accepts ACH.  Funds are net deposited minus fees for each day’s batch total for Visa and MasterCard, American Express, and Discover. 

Order Now »

picture

Credit Card

A card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym.

A credit card is different from a charge card, where a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers to 'revolve' their balance, at the cost of having interest charged. Most credit cards are issued by local banks or credit unions.

Accept Now »

picture

Debit Card

A card that provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic cheque, as the funds are withdrawn directly from either the bank account, or from the remaining balance on the card.

The use of debit cards has become widespread in many countries and has overtaken the cheque, and in some instances cash transactions by volume. Unlike credit cards the funds are transferred from the bearer's bank account instead of having the bearer to pay back on a later date.

Accept Now »

picture

Charge Card

A  card that provides an alternative payment to cash when making purchases in which the issuer and the cardholder enter into an agreement that the debt incurred on the charge account will be paid in full and by due date (usually every thirty days) or be subject to severe late fees and/or restrictions on card use.

Though the terms charge card and credit card are sometimes used interchangeably, they are distinct protocols of financial transactions: a credit card is a revolving credit instrument that does not need to be paid in full; no late fee is charged so long as the minimum payment is made at specified intervals (usually every thirty days) which carries the balance forward as a loan charging interest.

Accept Now »

picture

Gift Card

A a restricted monetary equivalent or scrip that is issued by retailers or banks to be used as an alternative to a non-monetary gift. Highly popular, they rank as the second-most given gift by consumers in the United States (2006) and the most-wanted gift by women, and the third-most wanted by males. Gift cards have become increasingly popular as they relieve the donor of selecting a specific gift. In the United States, about $80 billion were paid for gift cards in 2006. The recipient of the gift card can use it at his or her discretion within the restrictions set by the issuing agency.

Accept Now »