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What is merchant summary used for?
A merchant summary is a sheet, similar to a credit card voucher, provided by the bank. Banks will be required to group together various types of non-cash transactions such as: visa card transactions Bankcard transactions MasterCard transactions Cheques Gift vouchers EFTPOS transactions Once the above types of transactions have been grouped together, you can then calculate the amounts for each type of transactions. Finally, you can add all of these individual amounts together to give you an overall amount for non-cash transactions. This amount will be entered onto a merchant summary sheet.
Where can you obtain internet merchant accounts?
Paypal is an internet merchant account. You can also obtain internet merchant accounts through The Transaction Group, Merchant Group, and Merchant Plus.
How can one compare merchant accounts?
Merchant accounts can be compared on websites like 2013 Best Merchant Services Reviews and comparisons. The top three merchant accounts are Flagship Merchant Services, Merchant Warehouse, and National Bankcard.
What is retail merchant account?
a retail merchant account is defined as such that accepts payments for your retail business, other names are ecommerce merchant account and tangible goods merchant account.
Where can one find a Visa Merchant account?
You contact a merchant company like Paypal or Merchant focus, and apply for your merchant account. Once approved you can start using it. There is more then the two companies mentioned above that provide merchant accounts.
