If you’re running a business and in the market to provide your customers with flexible payment options and credit card processing, there are important things to know when you’re looking for a merchant account provider.
First, understand that there are two merchant account types – “swiped” and “keyed.”
A “swiped” account refers to face-to-face interaction with the customer where the business conducts credit card processing by swiping credit cards through credit card machines or terminals. Many retail, restaurant, hotel/lodging and even wireless merchants fall under the swiped category as all these industries process credit cards through physical credit cards equipment.
A “keyed” account is a merchant account where card processing is taken online through ecommerce or over the phone/mail order and the credit card is not physically present during the transaction.
Analyze your business needs. Do your merchant service needs call for a swiped or keyed account? Or both? Click here to read more about how your type of business can benefit from having a merchant account with North.
North is a leading financial technology company that builds innovative, frictionless end-to-end payment solutions designed to simplify and grow businesses of all sizes. From the front door, to the back office, the developer world, and partnerships that expand the payments landscape, North offers proactive, comprehensive merchant services, in-house processing, and more.
