PayDiverse Blog

Merchant Account Guides, Info, and News

6 Ways to Optimize Payment Processing Using the Power of AI

The payment processing industry has changed beyond recognition numerous times, and it’s undergoing another revolution thanks to the power of AI. Payments will be tailored to consumers preferences, with support available around the clock, small companies operating globally and fraud getting detected with pinpoint accuracy at lightning speed.

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How to Find Cryptocurrency Processors and Payment Gateways

Cryptocurrencies have been gaining popularity over the past few years, with more businesses than ever before accepting cryptos like Bitcoin and Ethereum as a form of payment. In fact, more than 15,000 businesses around the world were accepting Bitcoin as of June,...

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What is a Payment Facilitator?

What is a Payment Facilitator?Payment facilitators (Payfac) enable companies to accept electronic payments from customers. They provide the entire infrastructure for payment processing, handling everything from customer registrations to transactions. Highest Approval...

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What is a Virtual Terminal?

If you've ever had anything to do with a retail or service business, there's a good chance you've heard the term 'virtual terminal' thrown around a time or two. But what does it mean? How do virtual terminals work and is this modern payment processing solution...

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Mastercard Requirements for High Risk Recurring Billing

AN 4934 Revised Standards for Merchants Utilizing a Subscription/Recurring Payments Model or Negative Option Billing Model Type:Bulletin Announcement Category:OperationsRules/Standards Audience:AcquirerProcessor Region:Global Brand:Mastercard® Action Indicator:Brand...

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Merchant Account Fees Explained

The lingo used in the payment processing world can be a mystery to those who aren't familiar with it. There's an array of terms, as well as fees, that you might find on your statement and it's important that as a merchant, you understand what each one means. Below,...

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What Merchants Need From Their Payments Company

There's much to be done when it comes to business management and ownership. Between managing inventory, balancing books and overseeing payments, the financial side of business management can be overwhelming for many, let alone customer service. Luckily, there are...

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Are Voice Payments the Future of Purchasing?

Payment technology is evolving rapidly. It seems like just yesterday when we stopped swiping credit cards and debit cards to incorporate tap and chip technology. And now, continued advances in machine learning and artificial intelligence have led to another new way to...

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Are Credit Card Surcharges Legal?

As a merchant, it can be tempting to implement a credit card surcharge for customers who pay with a Visa, Mastercard or American Express. These charges help you recoup the fees you pay for processing such transactions and ultimately, doesn't that protect your bottom...

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Credit Card Scams: What To Watch For in 2022

Credit card scams have been around almost as long as credit cards themselves. Each year, as technology advances, the methods that criminals use to scam consumers and businesses become more sophisticated. According to the results of a 2020 study published by Javelin,...

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Declined Transactions by Issuer

Declined Transactions by Issuer When credit card issuers decline transactions, the loss to merchants is substantial. In most cases, when a transaction is declined by issuer, the customer abandons the transaction. While in many cases, the issuer decline is due to...

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How & Why Merchants Surcharge a Credit Card Transaction?

Colorado recently passed a law to change the state's rules regarding surcharging. Previously, surcharges were banned in Colorado, just as in most other states. However, when the imposed changes to Colorado Revised Statute 5-2-212 come into effect in July 2022,...

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Cannabis & Marijuana Merchant Accounts

With some states legalizing the recreational use of marijuana and cannabis in recent years, as well as talks of federal legalization in the near future, the cannabis industry is projected to grow immensely in the coming years. As the industry experiences rapid growth...

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Credit & Debit Card Authorization Holds

As a merchant, you can use authorization holds to ensure that customers follow through with payment for goods and services. This type of hold temporarily freezes the transaction amount on your customer's credit card, ensuring that the funds aren't able to be spent...

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What is a Merchant Account Reserve?

Depending on your history and the nature of your business, your payment processor might require you to have a merchant account reserve. This reserve protects your processor in the event that you're unable to cover processing fees and other bills. While some merchants...

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How to Recognize Fraud

When you operate a business, recognizing the signs of fraud is one of the most important things you can familiarize yourself with. According to the National Retail Federation, retail shrink totaled 61.7 billion in 2019 due to losses from fraud and theft, and that...

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What Are Retrieval Requests?

Retrieval requests occur when a cardholder's bank requires more information about a transaction. This request is typically made to the merchant and may include a request for documentation to support the transaction or clarification on the details surrounding the...

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Chargeback Rebuttal Letter Sample

When you're disputing a chargeback, a chargeback rebuttal letter is a vital part of your dispute response. This letter, along with supporting evidence of the customer's knowledge and approval of the transaction in question, can be used to help you state your case to...

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Telehealth Guide to Credit Card Processing

In the new normal, telehealth services are becoming more popular than ever before with technology rapidly changing and evolving to meet the needs of the healthcare industry. It is expected that this service will continue to see exponential growth. It's important that...

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Does Shopify Allow CBD Merchants?

In recent years, CBD has become a go-to health product for many Americans, and with the passing of the Agricultural Improvement Act in 2019, the popularity of this substance is gaining popularity at top speed. Many e-commerce merchants, particularly those in the...

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How to Accept Credit Card Payments as a New Business

There are a lot of steps to setting up a business. From seemingly small tasks, such as selecting the name of your business, to bigger jobs like registering and licensing your business, ordering inventory, and of course, finding customers, the early days of business...

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How to Mitigate Chargebacks During COVID-19

COVID-19 has changed the way our entire world operates. Unfortunately, that means merchants, banks and consumers have been forced to adapt to new procedures and policies in payment processing. With these changes in the payment processing landscape come many...

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Best High Risk Merchant Account Providers

Merchants who've been labeled high-risk usually find themselves needing to find payment processors that are willing to provide them account services at an affordable rate, and that's not always easy to find. Major banks tend to charge exorbitant credit card processing...

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What is an Offshore Merchant Account?

When it comes to credit card processing accounts, there are plenty of reasons to open and process payments through an offshore credit card processing merchant account. These accounts are usually recommended to high-risk merchants, who may have been labeled as such due...

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What is Interchange-Plus Pricing?

What is Interchange-Plus Pricing? Most businesses choose to accept credit cards to provide a convenient payment option to their consumers. Of course, adding this option can help to secure more sales for the business, as well as attract new and returning customers....

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Match List Explained

Match List Explained The Member Alert to Control High-risk Merchants list, known more commonly as the MATCH list, is a database of merchants who've had their payment processing accounts terminated in the past. This list was created by MasterCard to help acquiring...

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Best High Risk Merchant Account with Instant Approval

High risk merchants are often automatically disqualified for processing accounts for a variety of reasons. Most often though, the goods or services that they're selling are the very reason that the merchant is considered high risk. Those that aren't denied processing...

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Credit Card Processing 101

Credit Card Processing Processing credit and debit card payments is crucial to maintaining adequate sales in any industry. In a world where everything is done electronically, cash is becoming a rarity for many consumers and by providing another option to pay,...

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How to Improve Your Business Credit Score

Improving Your Business Credit Score Maintaining a good credit score is important for any business, but when you're considered high-risk, it's absolutely crucial. Good credit is necessary for any business that wishes to receive a loan, pay fair interest rates, and...

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How to Open a High Risk Merchant Account

For many businesses, opening a payment processing account through traditional means is impossible. This is due to the high-risk designation that's assigned to many industries as a result of the merchandise or services they deal in or the methods by which they conduct...

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