The ability to set up recurring billing allows merchants to simplify the monthly billing process, reducing late payments and providing customers with a convenient billing solution. Through recurring billing, you can automatically debit customer accounts with the acceptance of most major credit cards, debit cards and ACH payments.
As a business leader and credit card merchant, there are several key terms you should be familiar with when it comes to payment processing and merchant accounts. Below are just a handful of terms that will keep you in the know. Find a complete merchant glossary at http://www.bluepay.com/glossary.
• Address Verification: A security service in which the merchant verifies the cardholder’s address in order to deter fraudulent transactions, usually during card-not-present transactions like Internet or phone sales.
What is a retail merchant account? A retail merchant account is designed for retail businesses and stores with the need to accept major credit cards and debit cards. Businesses that have a retail merchant account can safely process point-of-sale transactions in which both the credit card and the card holder are present.