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What are merchant services?

Merchant services offer a wide range of services, other than the preparation of your credit card. There are many available ways that payments can be made securely and effectively. Always say yes to your customers credit or debit cards, online or off-line. Regardless of the type of payment you would like to receive, whether it be online, monthly, or the payment process that you need assistance with, merchant services are here to cover any need or guidance you may request. We will combine your necessities and your given budget when we provide you with the trustworthy payment handling.

Factors such as what kind of business you have, how you plan to take payments, whether it is by telephone or in person, your credit history and any previous experience are the baseline of our merchant card services. But don’t worry, our specialists in card payment at Cheshunt will gain great knowledge on how you and your vocation can arrange future strategies that will fulfil all your needs.

We get to know you, your business and the industry you work in, so that we can build a credit or debit card payment solution that works for you, uniquely tailored to your customers needs. The right product for you is right around the corner, get in touch today with one of our experienced payment solution handlers.

Are business bank accounts the same as merchants bank accounts?

A topic that frequently causes confusion amongst business owners who are new to the world of payment processing. A business bank account is for expenses relating to the overall running of your business. When your payment is being processed and will soon be accepted it falls in the hands of our merchant accounts. We are experienced in all sides of merchant services, and we are working to build a fully integrated platform in which business owners located in Cheshunt can enjoy any type of merchant service, such as credit card processing or till system by EPOS.

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 number of customers that now insist on paying by card over cash has increased due to the pandemic’s aftermath. If you have a merchant account, you are eligible for digital payments instead of simply accepting cash in hand. Merchant services can be fundamental in this day and age, allowing you to make and accept any payment while avoiding having to use cash. By taking advantage of our merchant services, your payment process will definitely benefit, by becoming a secure way to pay for goods. Within a few days, we can provide you with solutions regarding merchant services.

Merchant services and misconceptions.

In order to obtain a merchant account for your Cheshunt business, you will need to submit more than one request. Having an approved account comes with a wide range of terms and processing rates the business user will need to agree on. Merchant accounts are not as difficult as they seem.. When first enrolling in a merchant account it can seem very confusing. Merchant services supply you with the support and personal descriptions on how to go through with 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. There is also a myth that merchant services are very costly 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.

Another example of a misconception that surrounds merchant services is that they can be expensive to start with. If you own a small business, choosing the right merchant service provider will ease your merchant life and make it more beneficial. While there are a number of aspects surrounding the service that you need to consider before choosing the right provider for your business, you are not stuck with your current provider and can freely choose another one. The wireless terminal solution company is there to provide you with help in order to end your contract, offering different rates and fees.

Key benefits to using our merchant services in Cheshunt.

Using our merchant services has numerous advantages. Being a leading merchant account provider in Cheshunt, we will provide you with fast and simple solutions to any business of any size. We aim to build a ready made solution in order for you to succeed online. If you are looking for the lowest rates available on credit card processing, our merchant services will provide. Many people in the UK are now choosing their mobile devices to pay for their goods and a contactless transaction. As the limit is now £45 since April 2020 it is likely that card processing transactions will go up.

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. Whether your business is already established or a new start-up, selecting our payment platform is a simple way to set up all the payment options your business requires.

Added card security.

Small businesses are responsible for ensuring that the credit card information is safe. Merchant service providers can help protect you and your clients by managing payments across multiple payment gateways and websites. Merchant accounts must conform to the PCI which provides a universal standard for how credit card information is processed, used and stored.

You can’t trust just anyone to watch your credit card information, protect yourself by working with the provider that is PCI compliant which is also designed to prevent security breaches. 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.

Settlement on the same day means you will receive the money into your accounts for your merchant services much quicker. Wireless terminal solutions credit card processing and merchant services provide immediate access to these funds. In the current climate, most companies are focused on steady timelines and prompt payment resolution. Absorb yourself in the day-to-day running of your business with our comprehensive merchant service. Your money can be accessed faster and your payment processing fees can be lower – call us and get a free quote today or any day. You must remember – only certain businesses are eligible for same day settlement depending on various factors. Generally down to the merchant acquirer’s discretion and other factors including how you trade and the nature of your business. Same day settlement on your merchant services account enables business owners to receive money from clients.

Offer flexible payment options for your customers.

Under the current environment, there is a need to provide various options when accepting payments. Merchant services can provide your business with the help it needs to get paid on time and in full, even if you have a bad credit history, we specialise in high risk merchant services. Our merchant services can help you beat the credit crunch by accepting payments to credit cards and related products.

For more than 12 years, wireless terminal solutions ingenious and original approach to merchant services has helped business owners provide various payment options that meet their unique needs.

Take advantage by accepting or debit and credit cards.

There are a number of advantages when starting to accept merchant services and any type of card processing. Companies that accept credit cards are able to increase their clientele, thus increasing the profits. In addition, being able to accept card payments provides the merchant additional peace of mind. Our merchant services payments technology is being used across the UK by thousands of businesses. If you are interested in dealing merchant’s, contact us now. 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 all depends on which type of business they are and how they generally deal with their client. There are various card manufacturers in the UK, the main ones being in 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. There is a card machine feet budget and installation. You can enjoy the benefits of owning your own card machine, or renting on a short or long term lease agreement. 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.

Go the extra mile 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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