In the realm of merchant accounts offered by banks and credit card processors, the discount rate has a special meaning that is important for a small owner to understand. Where the discount rate classically refers to the rate charged by the Federal Reserve to other banks when they borrow, in the credit card world, this [...]
discount rate
What is “The Discount Rate”
Last Updated on November 23, 2024
What is Your MCC code, and Why Do You Care?
Last Updated on November 23, 2024
What is your MCC code? This stands for your “Merchant Category Code”, and if you don’t know much about MCCs, then this is just going to be a four-digit number to you. However, that four-digit number is actually very important for your business endeavors, especially if you are working with another company, and it will [...]
Understanding Your Merchant Account Statement
Last Updated on November 23, 2024
If thoughts of reading your merchant account statement send you running for a bottle of pain reliever, take heart. While it certainly isn’t guaranteed to be a pleasant task, it is easier when you understand what all of the fuss is about. So, pull up a chair and put on your reading glasses. You’re about [...]
