You’re a Business Owner, Not a Dummy!: Understand Your Merchant Account

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iUniverse, Oct 24, 2012 - Business & Economics - 118 pages
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In order to compete in today’s global marketplace, it is essential that businesses large and small accept credit and debit cards from their customers. Credit and debit card usage continues to rise; if you don’t want your customer going to one of your competitors, you must accept plastic.

You need to establish a merchant account. Plenty of providers offer these processing services, but not all of them will share in your company’s vision. In this guide, author Michael Mintz provides advice and information about handling a merchant account. It answers these vital questions:

•How does the credit and debit card process work?
•What is interchange, and why do I care about it?
•Who makes what on each transaction?
•What are the pricing strategies and additional fees?
•How do I read my month-end statement?
•Why should I worry about PCI compliance?
•What does the Durbin Amendment mean to me?
•What should I know about American Express?

You’re a Business Owner, Not a Dummy provides an insider’s look at the sometimes complex system of merchant accounts and provides a wealth of information to help you make the right decision for your business.

 

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Contents

How Does the Credit and Debit Card Process Work?
1
What Is Interchange and Why Do You Care about It?
22
Who Makes What on Each Transaction?
29
The Real Truth
37
My MonthEnd Statement Makes No SensePlease Help
56
Why Do You Care?
86
What Does It Mean to You?
90
A Checklist to Use Before You Make a Decision
93
American Express
96
Epilogue
99
Index
101
Copyright

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About the author (2012)

Michael Mintz is Senior Principal Verification Engineer with NetSilicon. He has more than 15 years of experience in C++, software development, management, and verification. Edward S. Arthur has 20 years of verification and EDA experience and is currently doing advanced verification work for Cisco Systems. He has a BSEE from Fairleigh Dickinson University and an MSEE from Northeastern University. Carl Walker

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