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Merchant Accounts
Businesses use a merchant account to accept payments via credit or debit card by a consumer. It’s a bank account which comes in three forms; retail, main/telephone order and internet merchant accounts, and is depended on the business’ needs.
107 Questions
What is the most widely used and accepted form of payment for making business travel arrangements?
Major credit cards are the most widely used and accepted form of payment for making business travel arrangements.
Can a non-profit corporation earn interest on a bank account?
Yes. A"non-profit" corporation is one that does not have stockholders, so there can never be a distribution of net corporate profits to them. The corporation can earn all the money it can and keep the profits or use them for corporate work, expansion or charitable purposes. There may be limits on how much profit the corporation can accumulate.
Where can you obtain internet merchant accounts?
Paypal is an internet merchant account. You can also obtain internet merchant accounts through The Transaction Group, Merchant Group, and Merchant Plus.
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What is Shall not be in default?
"Shall not be in default" is a phrase used in contracts and other formal agreements to delineate between simply being late to pay someone, and actually being in default to them. An example might be to say that rent is due on the first of the month, but the lessee shall not be in default until the fifteenth.
List of Ambassador of India in other countries?
Indian Ambassadors to the United States include S Jaishankar, Nirupama Rao, and Meera Shankar. On the list of Ambassadors of India to Russia include Prabhat Prakash Shukia, Ronen Sen, K Raghunath, and Ajai Malhotra.
PayPal, Neteller, and MoneyBookers (now known as Skrill) operate as payment service providers rather than traditional merchant accounts. They facilitate transactions on behalf of businesses and consumers, allowing them to send and receive funds without requiring a specific merchant account from an acquiring bank. These platforms essentially act as intermediaries, managing the payment processing and providing users with e-wallet services, which can be considered similar to e-cash accounts.
Cpt model questions with answer papers?
A sold 1000 tins of oil to B without appropriating any particular oil to the contract. B sold 600 tins out it to C and gave delivery order addressed to A. C lodged the delivery order with A requesting him to "await" his orders. Meanwhile, B became insolvent and thus A became the unpaid seller.
How do you use spreadsheets with accounts?
There are a number of Bookkeeping / Accounting programs out in the real world. Most if not all of these programs will output transaction histories in a spreadsheet format.
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What is secure online transaction models in e-payment?
Secure online transaction models
-The simplest method of doing direct business online on Internet is to set up a secure world wide web server then create content pages and program forms to take orders.
Secure web servers
A secure web server must by definition support some type of security protocol. The two most important are secure hypertext transfer protocol (S-HTTP) and secure sockets layer (SSL), which was initially developed by Netscape and offered to the Internet community as a proposed standard in 1995. However, one of their primary advantages is their relative unobtrusiveness to the consumer using an SSL or S-HTTP enabled browser.
Secure server purchasing
The consumer browses through graphical and textual descriptions of the merchants' products selects a purchase and usually clicks on a button that says "buy now" to make a purchase. If consumer is using a secure browser supported by secure server, that button will produce a form on consumer's screen which the consumer must complete. Delivery and payment information has been provided the product will be delivered. If the customer is using a browser that is not secure or that uses a protocol not supported by the server, then some other method must be employed to consummate the transaction. Delivery information represents name, address, delivery address, email address and any other information necessary to deliver the product.
If product is a physical item, then a physical destination, preferred shipper and telephone number may be necessary.If product is a digital item, then it may be transmitted directly to consumer via the browser by e-mail or through some other application such as file transfer.
Secure server selling
- First the merchant needs to publish product offerings on Internet with secure server. Servers are available that support SSL, S-HTTP and both. Because the Internet is an open network based strictly on proper and widespread implementation of standards, it doesn't make sense for merchants to limit their potential customers by using only one standard.
The merchant must go beyond merely setting up the server. As with mail orders there must be a mechanism for processing the information contained on an order form. Most often the merchant will use interfaces of some type to automate transactions. Companies selling physical products over Internet use email confirmations and shipping notices to keep customers up to date on status of orders and all merchants can use network applications to notify their internal organization of orders.
How many ATM does citibank have?
There are Citibank ATM machines in over 40 countries throughout the world. There are 30,000 in the United States alone.
The company known as Gray Indiana is located at
414 Murphy Rd
Colfax, LA 71417
There phone number is 318-627-5782
There are no cities in Indiana named Gray.
There IS a Gray RLA Airport, near Fairland, IN
What are the benefits of cash transactions?
There is no debt formed and neither is there any barrier that can be formed due to the debt.Payment is prompt which means satisfaction for both parties.Plus it is very easy to conceal a cash transaction.
Will your merchant account close after bankruptcy?
While it is more difficult to obtain a Merchant Account with a bankruptcy on your credit it is still possible. I was able to get a merchant Account through Orbitalpay (http://www.orbitalpay.com) with less than perfect credit as they are "in house" and are more leniant with approvals than most banks.
Is there a way to collect a debt via credit card without a merchant account?
If you are a business owner without a proper Merchant Account, you should not be attempting to accept Credit Card Payments.
There are numerous repercussions such as Charge Backs, a term used the Payment Processing Industry which refers to a dispute in a credit card charge resulting in the recipient of the initial amount being charged back (taken back from his account) unless substantial proof that the charge is valid with proper documentation of proof of service or goods provided. On top of being "forced" to give back the original amount of money, you will also be levied a surcharge for the handling of the charge back.
If a fellow merchant helps you process the charge, they too will have many repercussions and far worse get on the TMF or MATCH list which in short blacklist them from having a Merchant Card Processing Account. For many brick and mortar retail stores, losing the ability to accept credit cards is a death sentence for the business.
If you are not a business owner and are just trying to collect a debt, there is however an alternative method. Have the person that owes you money send you and Interac Payment through their online banking account. It's safe and easy to use.
Other methods may include wire transfers or simply have them send you a check. Harsher method may mean to sell the debt to a collection agency or hire an collection agency and of course the ultimate last resource which is take them to court.
How do you make a merchant account?
You obtain a merchant account from a merchant account provider - there are plenty of these as they are basically like a bank. Choosing which one to go with depends first on your geographic location and second on what type/ size of business you are. The process can be grueling because the providers need quite a bit of information from you. A merchant account is basically a line of credit, so the banks want to be sure that you are in fact a legitimate, revenue producing business before they grant you an account.
What is retail merchant account?
a retail merchant account is defined as such that accepts payments for your retail business, other names are ecommerce merchant account and tangible goods merchant account.
Best place to get a credt card merchant account?
There are literally 100s of providers and 1000s of resellers with regards to opening a merchant account to process credit card transactions.
If credit score is not a problem, good places are Bank of America, Wells-Fargo, First Data, Cybersource, Balanced Payments, Braintree Payment (highly recommended), Stripe, etc.
If your credit score is low and it cannot get you a direct merchant account, then the alternative is to look for companies known as 3PP 3rd Party Payment providers. These companies are essentially aggregate resellers. A good example is 2Checkout, etc.
