Merchant Services

Merchant Services is everything having to do with Credit Card Processing or payment processing, Gift Cards or Customer Loyalty Programs, Check Processing, ACH Processing, Demand Deposits, and anything else that enables businesses to processes a payment transaction with a customer.

Credit Card Processing

Credit Card Processing or Payment Processing is made up of a few different parts. The main one being credit and debit card processing. These are a fast, secure way to take payments. There are many moving parts that make just one transaction go through in around 3 seconds. First, when you swipe the card the machine reads the magnetic strip. The terminal dials a server at the network. The network routs the transaction to the correct bank. There they either approve or decline the transaction. They route the approval or decline back to merchant service provider with an authorization number or a decline code. When the machine receives the authorization it prints that number on the receipt.

Merchant Loans

Merchant Loans can vary greatly depending on how long you have been in business, monthly volume, credit rating, and others. Loans can be funded in as little as 10 days from the time of the application and they are paid back either daily, weekly, or monthly. Usually the rates are higher than traditional bank loans. So if you can get a loan from a bank you should probably not take one from a merchant service provider.  If you cannot get a loan from a bank, you may Apply For a Merchant Loan with Tobuso.

Gift Cards

Gift Cards are a great way to increase your bottom line with customer loyalty, increased ticket average, promotions, and brand awareness. Gift cards work similarly to credit/debit card processing.

Check Processing

Check Processing is a process where you take the customers check run it through a machine connected to your credit card machine and the money is drafted from their account. It works like a debit card. The money is drafted straight from their account.

ACH Processing

ACH Processing is a great way to draft recurring payments from your customers on a monthly basis. It is an automated clearing house.

Demand Deposit

A Demand Deposit is an account from which deposited funds can be withdrawn at any time without any notice to the depository institution.