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HCDI presents
Merchant Warehouse® as our trusted partner for credit card processing
and merchant account services. Merchant Warehouse is one of the most
reputable companies in the payment card industry, offering unbeatable
prices and unparalleled service and support to ensure that you receive
the benefits and attention you deserve.
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Retail Credit Card Processing
Tips
Retail credit
card processing is the most straight-forward of all merchant account
scenarios. Follow the tips below and you'll be sure to avoid any
of the possible pitfalls of setting up a retail credit card processing
account. |
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Give yourself enough
time. Most retail credit card
processing accounts can be set up in a day or
two, but it does sometimes take longer. It’s a
good idea to start thinking about setting up a
merchant account a few weeks before you plan on
using it.
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Use credit card
processing experts for your retail credit card
processing needs. Banks, superstores
and other companies who sell, but do not
specialize in, merchant accounts, can never be
as competitive and up-to-date with the current
trends and technologies as specialists like
Merchant Warehouse.
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Understand all of your
fees. When you get a quote for a
retail credit card processing some fees may seem
a foreign to you. Take the time to go through
your application and be certain to ask questions
about anything you don’t understand. A good
credit card processing company will patiently
and competently answer all your questions.
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-
A contract or
cancellation fee will almost always come back to
bite you. As a retail business owner
you should find it fairly easy to get a retail
credit card processing account. It is no
coincidence that companies who require these
types of deals are often the ones who provide
the most unreliable service. Beware of sales
people that claim that "even though you have a
fee in your contract, we never charge it."
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How Retail Credit Card
Processing Works
The model
below describes how retail credit card processing works in a typical
storefront environment. |
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- At the end of the day
the merchant must "settle" or "batch out" their terminal which will
begin the final process of the transaction. In most cases Merchant
Warehouse can automatically settle the transactions at a specified
time each day. Once the settlement process is initiated, the funds
are transferred from the card issuing bank, and then electronically
deposited into the merchant's checking account. It typically
takes no more than two business days from the time of the original
transaction for the funds to reach the merchant's checking account.
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