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First Data Merchant Services—which now operates as Fiserv Merchant Services—is a familiar provider of payment terminals and one of the largest payment processors in the world. Point-of-sale terminals such as the First Data FD130 have been around for ages and allow merchants to accept major credit cards, contactless payments, and gift cards. Newer models such as the First Data FD150 build on the FD130 and feature a faster processor and more memory.
EMV—Europay, MasterCard, and Visa—is the abbreviated term for the technology in chip cards that allows you to “tap and pay.” These three companies worked together to develop the technology, hence the terminology. Nowadays, however, several other companies, including American Express and Discover, are involved in the venture. EMV cards are significantly more secure than their magnetic strip counterparts. Accordingly, merchants that don’t accept this form of payment can face additional fees and, in some cases, liability for fraudulent transactions.
New and seasoned merchants alike have a lot of misconceptions about the payment-processing industry. As a result, choosing the right payment processor can be a confusing and time-consuming process. Sekure is here to set the record straight on a few common myths.
If you’re a merchant with a POS system, you’re likely familiar with “batching out” your transactions at the end of the day. This article offers a brief overview of batches and settlements and how they pertain to your business. For specific instructions on batching out credit card machines, Sekure discusses them here.
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