PayKings Blog

What Is An Acquirer?

What Is An Acquirer?

June 1, 2020

An acquirer is a bank or financial institution who is a licensed member of a card association that maintains the merchant’s bank account. The acquirer allows merchants to accept credit card payments by working with the credit card companies and acting as a mediator for all transactions. There are several steps when setting up your… Read More

What’s Considered A High Risk Business?

What’s Considered A High Risk Business?

May 21, 2020

A business is considered high risk if the company functions in an industry banks categorize as high risk. These high-risk businesses may operate in unique verticals like CBD or have payment models like subscription billing which can lead to higher chargeback rates. List of High Risk Factors So what exactly qualifies a business as high… Read More

What You Should Know About Paypal Fees

What You Should Know About Paypal Fees

May 18, 2020

If you are considering choosing Paypal as your payment processor, you should understand what Paypal fees you may be charged. The bottom line: every transaction is not created equal. Here is a breakdown of the most common Paypal fees that businesses end up having to pay so you can make an informed choice on what… Read More

Best Practices When Making CBD Claims 

Best Practices When Making CBD Claims 

May 14, 2020

With the rapid growth in CBD merchant accounts, banks are enforcing stricter policies when it comes to CBD health claims. As a general rule, it’s critical to avoid specific language and direct medical claims on your website. Following a few basic policies and adjusting the wording for CBD items on your website will help expedite… Read More

Merchant Accounts For Credit Repair

Merchant Accounts For Credit Repair

May 11, 2020

In a market where nearly everyone has access to credit, it is common to see individuals from all walks of life weighed down by poor credit. This keeps some people from accessing quality-of-life purchases such as vehicles and homes. As a way to remedy this problem, specialized credit consolidation and repair companies have begun to… Read More

How Does A Credit Card Work?

How Does A Credit Card Work?

April 30, 2020

For over seventy years, many have asked the question, how do credit cards work? Invented in 1950, credit cards have changed the landscape of commerce throughout their long evolution. Now, they are used in over 25% of all transactions. The convenience they provide for pay-later purchasing and online shopping has made for an entirely new way… Read More

Continuity Subscription Merchants

Continuity Subscription Merchants

April 24, 2020

Continuity subscription merchants are realizing the importance of ongoing revenue to grow their business. This billing model allows companies to have a secure and consistent customer base that they can count on.  However, there are challenges when it comes to passively processing financial transactions like this. For instance, subscription merchants or a recurring payments structure… Read More

Top 5 CBD Companies Online

Top 5 CBD Companies Online

April 20, 2020

The demand for CBD-infused products is surging, and top CBD companies are capitalizing on the opportunity. These days, you can purchase a multitude of items from pre-rolled hemp flower, tinctures, to sprays and food. Beyond smokable or edible items, cosmetics and topical lotions are also becoming more available on the market. Why the sudden surge… Read More

What Is A Merchant ID Number?

What Is A Merchant ID Number?

April 14, 2020

A merchant ID number, also known as a MID is a personal number banks use to identify your payment processing account. It’s comparable to an individual’s social security number, but in this case, it identifies a bank account. Accepting card payments such as credit, debit, ATM, EBT, gift, company discount, etc. will require the use… Read More

Ready to get started?

Start Accepting Payments Today

Apply for a merchant account