Merchant Total Resources Blogs & Articles

ACH (Automated Clearing House) is an electronic payment network that facilitates secure and efficient fund transfers between bank accounts, enabling businesses to send and receive payments electronically.

Merchant account is a type of bank account that allows businesses to accept and process credit card payments from their customers. It acts as an intermediary between the business, the customer, and the payment processor to facilitate secure and reliable transactions.

Payment processing refers to the handling of payment transactions, including the authorization, capture, and settlement of funds between the customer, merchant, and payment provider. It involves the secure transmission of payment data and ensures seamless and efficient payment acceptance.

An eCheck, short for electronic check, is a digital form of a traditional paper check. It allows businesses to collect payments electronically from consumer bank accounts, providing a convenient and efficient alternative to physical checks.

Credit card payment processing refers to the handling and authorization of credit card transactions between merchants and customers. It involves securely capturing the cardholder’s payment information, verifying the transaction, and facilitating the transfer of funds from the customer’s credit card to the merchant’s account. Credit card payment processing enables businesses to accept electronic payments, providing convenience and flexibility to customers while ensuring secure and efficient transaction processing.

When a customer makes a payment using a credit card, the transaction information is sent to the merchant’s bank, which then sends it to the customer’s bank for approval. Once approved, the funds are transferred to the merchant’s bank account.