Credit card processing companies use a terminated merchant file (TMF) to check out potential merchants before giving them a merchant account. It is called the MATCH list for Mastercard and American Express. The terminated merchant files are blacklists shared among processors.
Today, most people prefer to pay with debit or credit cards rather than physical cash. No matter what kind of business you’re running, providing your customers with a modern payment alternative.
A cash discount program relates to the methods merchants are applying in their businesses to pass the costs of accepting credit and debit cards to their customers or cardholders. The merchants raise their prices through simple conspicuous signage in the business location and offer discounts to the customers who make cash purchases.
In this article, we’ll answer what a payment gateway is, why you need one, and what the best one for your business is. A payment gateway is an e-commerce service that processes credit card payments for traditional and online stores. This software makes a transaction possible by communicating information about it.