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What are merchant services?

At merchant services the services are not limited to credit card processing. There are many available ways that payments can be made securely and effectively. Regardless of your online or off-line status, always accept debit or credit cards from your customers. 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 match you with the best merchant payment processor that fits your needs and budget.

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. All worries aside, our card payment consultants are ready to supply you with an immediate plan of action based on a detailed assessment about you and your business.

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. An enterprise bank account corresponds to the expenses related to the overall operation of your company. Merchant account is solely responsible for the processing and receiving incoming payments by credit or debit cards. Services such as credit card processing and EPOS till schemes are what we specialise in, which is why we will be providing a fully unified system targeted at business owners located in Loughborough.

What are the benefits of having merchant services?

With merchant services you are able to take payments from your customers that wish to use their debit or credit cards. The option of paying by credit or debit card has become much more in demand and ever since the pandemic took place. When you own a merchant account your business will be able to receive incoming payments digitally, while diminishing the downside of permitting anybody to use cheques or cash instead. For small business owners, merchant services are a requirement in order to keep pace with the advancements of card payments, which is still growing today. You can benefit from our merchant services, and you can offer quick, secure ways to pay whether it is in person or online. Within a few days, we can provide you with solutions regarding merchant services.

Merchant services and misconceptions.

Acquiring a merchant account means more than completing an application is required. Having an account that has been approved is accompanied by a variety of terms and rates of treatment that must be agreed upon by the commercial user. One of the biggest misconceptions is that merchant accounts can be intimidating. If you are not aware of how merchant accounts work they can seem quite intimidating. In order to gain extra explanation and further details and support throughout your application process your merchant services provider will provide you with these needs. Be sure to pick the right one for your business by verifying these merchant account misconceptions and in covering the real truth. Another example of a misconception surrounding merchant services is that they cost quite a bit of money to start up. Merchant services can be quite difficult to navigate, so figuring out what the cost is in order to start is formality.

Another example of a misconception that surrounds merchant services is that they can be expensive to start with. If you own a small business, selecting the right merchant services provided can make your training life’s more simple and much more profitable. 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. If you need help ending your contract, wireless terminal solutions is there to help. Also offering a number of rates and fees while providing different methods and services.

Key benefits to using our merchant services in Loughborough.

There are various advantages and benefits when you use our merchant services. We are a leading vendor of merchant accounts in Loughborough, we provide quick and simple solutions regardless of the size of your business. 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. Residents of the United Kingdom chose to pay with their mobile phone more than ever before and with the no contact limits being increased to £45 earlier this year in order to reduce the amount people handling money, the amount of card processing transactions is likely to 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. Registering as a merchant through wireless terminal solutions has never been this simple. 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 must take responsibility and ensure that their credit card information for. Small businesses must ensure the responsibility scrubber small businesses have a responsibility to ensure the security of their credit card information. Throughout a variety of payment gateways and websites merchant services providers will help to protect you and your customers by managing the payments. Merchant accounts need to be PCI compliant, meaning the payment card industry data Security standard, which provides a universal standard for how to handle, use and store 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 your business is currently accepting payments by card and you are worried about security vulnerabilities, it is highly advisable for you to keep any contact information up-to-date with relevant acquiring merchants. 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. With credit card processing and merchant services from wireless terminal solutions, you are granted access to your funds right away. During the current climate, many businesses are geared around quick turnaround and needing fast payment settlement. Soak up the daily management of your business with our full 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. You must note that, same day settlement will only be accessible to select businesses as it depends on a variety of factors. Typically, the merchant will acquire discretion and other factors, that include the way in which you negotiate and what your business is. 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 today’s environment, we need to provide as many options as possible in order to accept payments. 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. In order to avoid credit crunches by accepting credit card payments and associated products all merchant services can help you.

If you are looking for an innovative and creative approach regarding aspects of merchant services with a variety of payment options that will meet your specific needs, wireless terminal solutions have more than 12 years experience in this field.

Take advantage by accepting or debit and credit cards.

There are numerous benefits in starting to accept in-store services and card processing. Companies that accept credit cards can do so by increasing their customer base. The ability for your business to accept card payments will ensure peace of mind for the merchant. 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 business has a merchant services account, you need to determine the type of card machine that suits your business. It all comes down to the type of company they have and the interactions they have with their customers. There are different carmakers in the United Kingdom, the major ones being Ingenico, VeriFone, PAX, Spire and Castle. We are payment specialists when it comes to card machines and we offer the best card machines. The hardware is designed to help your business grow. We have a card machine for every budget and set up. 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. All come with a whole host of benefits and owners will enjoy hassle free transactions and lower processing fees. 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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