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What is a Merchants account Credit card?
A merchants account credit card is a special type of credit card that is issued from a merchant acquiring bank. These credit cards allow a vendor or business to accept payments from customers using a credit card.
Can you use a Visa card for payments in Canada?
Yes, Visa cards can be used for payments in Canada at most merchants that accept credit cards.
What is a square reader?
A Square Reader is a small device that attaches to a smartphone or tablet and allows merchants to accept credit card payments. It is commonly used by small businesses and individuals to process transactions on-the-go.
Will changing my credit card number stop auto-payments?
Yes, changing your credit card number will likely stop auto-payments, as the auto-payment system typically requires the correct credit card information to process payments.
Where can one find information on credit card payments?
All major credit card issuers and merchants report to credit bureaus. There is not a list as to which ones (if any) would not participate in such reportage.
How does the repayment process for a business loan work?
The repayment process for a business loan typically involves making regular payments to the lender, which include both the principal amount borrowed and the interest accrued. These payments are usually made on a monthly basis over a set period of time, known as the loan term. Failure to make timely payments can result in penalties and negatively impact the borrower's credit score.
What kinds of services does the Direct Merchants Bank offer?
Direct Merchants Bank is a credit card company that offers customers the ability to borrow capital at a required interest rate. In addition, customers have the ability to pay their payments online.
How do you prove failure to pay a debt?
Failure to pay a debt means that under the terms and conditions of the credit, the payment was not made on time or at all. Usually after 90 days of no activity (that is, no payments), then this establishes failure to pay a debt.
Where can one find someone to deal with Canadian credit card processing?
Canadian credit card processing can be handled by Bluepay, Moneris, Chase Paymentech CA, PSiGate Merchant Services, CPS Merchants, and Pivotal Payments.
How can I effectively account for credit card payments within my budgeting process?
To effectively account for credit card payments in your budgeting process, track your credit card spending separately from your other expenses, set aside money each month to cover the full payment, and avoid carrying a balance to prevent interest charges.
Is it legal for merchants to charge consumer credit card fees?
Yes; the credit card companies charge the merchants in order to receive payments from them. In some cases (usually at small businesses or ones that do not do a lot of business monthly) the merchants can charge a small fee associated with using the credit card, or set a minimum amount to avoid the fee i.e. any purchase under $5 gets charged a fee, anything above that amount doesn't.
What are the 2 Costco credit card processing rates?
The Costco credit card processing rates are 1.38% for retail merchants, and 1.99% for internet and mail/telephone order merchants. Rates listed are for qualified transactions, but reward cards process at a higher rate.
