frequently asked questions
Merchant services are authorized financial services that allow a business to accept credit card, bank debit card or mobile payments; transactions using online ordering or point of sales systems.
A merchant services provider is a company that provides a variety of services and products all centered around accepting payments of all types. They set you up with a merchant account, sell terminals, install POS systems, help you fight chargebacks, give you online invoicing capabilities, sales data, and the works. Merchant services providers act as a liaison between your business and the world of payment processing. Ideally, they become your go-to resource for all things payment.
If your business is accepting online payments, you’ll need to get a payment gateway from a merchant service provider. A payment gateway is a piece of software that works with your website or e-commerce store and allows you to take and process secure credit card payments online.
If you’re accepting in-person payments, at the very least, you’ll need a credit card terminal—that is the physical device that you use to swipe, dip, or tap a credit card. This device will connect to your merchant service provider and will facilitate the process required for you to take, verify, and actually receive a payment. Credit card terminals come in a variety of shapes and sizes-from simple magstripe swipers to handheld terminals.
A point of sale system typically consists of the software and hardware required not only to accept payments, but also to manage a business’s general day-to-day sales and processes.
Most point of sale systems will allow you to accept payments, process sales, run reports, track inventory, manage employees, reconcile tips and commissions, and even accept gift cards and set up loyalty programs.
Because point of sale systems usually encompass everything a business needs to manage their sale and payment processes, “merchant services” and “point of sale” are often used synonymously
Process time is approximately 1 day after all required application information is received. Once approved, we will inform you and deliver your equipment.
You will be set up to accept Visa, Mastercard, Discover, American Express, Apple Pay, Google Pay, and Samsung Pay.
One of the most important questions about merchant services. There should not be any contracts locking you down. You should have the control of how and when you use a merchant service provider. Stay if you’re happy but leave when the customer service is not cutting it.
At 1st Merchant, our primary goal is to earn your trust and become the last merchant services provider that your business will ever need. We are fully committed to providing the very best solutions and support that will help successfully grow and manage your business well into the future.