cramerjohn004
Forum Regular
Join Date: 12.10.2021
Posts: 414
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Posted: 9.27.2022 3:08:49
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There are two distinct types of merchant service accounts those for businesses that accept payments in person and those for businesses that do not. The first group includes traditional retail stores and the second includes firms that process payments over the internet, the telephone, or via mail order. These businesses are generally charged higher merchant service fees due to the fact that the card is not present.
You see, when a merchant processes how to sell merchant services a credit/debit card in person, he can ask for ID, check the signature, or request a pin number. These are tried and true security measures that have helped traditional retailers fight fraud and theft. But when the card is not present, the merchant has no way of knowing if he is doing business with the actual cardholder. That is why fraud and theft are far more common when the card is not present. It is also why these merchants are charged higher service fees.
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jiuer7845
Forum Regular
Join Date: 3.13.2021
Posts: 214
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