A Short History of Payments and Credit Card Processing
It all Started with the Barter System People used to consider their wealth in terms of possessions (I suppose many still do). This wealth was primarily in the form of cattle, land, grain, housing and other physical assets. In order to purchase something by bartering, you would essentially trade. For example, you would trade cattle […]
How to Accept Apple Pay at your Business in Canada
When you’re a business, it’s key that your payment processing system is quick, simple, and secure. Your system needs to provide the ways that your customers want to pay. About 25% of people in Canada and USA have an iPhone. Those iPhone users are very active at using Apple Pay. Apple Pay was released in 2014 […]
Accepting American Express Credit Cards and What You Need to Know
American Express, also known as AMEX, is a credit card company based in USA and has a long history. Unlike credit cards like Visa and Mastercard which are issued by banks, American Express issues its own cards directly to consumers. A Short History of American Express American Express is the oldest credit card company in […]
Cannabis Payment Processing Now Available in Canada
Cannabis credit card processing is now available in Canada with Clearly Payments for physical licensed retail locations. Our world class merchant account, credit card machines, payment software, and integrations are available to cannabis physical merchants, dispensaries, and other cannabis related businesses. Cannabis retail payment processing Retail storefronts are one of the most popular modes of […]
What is Interchange?
When your business processes a credit card, you will be charged a transaction fee. The majority of that fee is the interchange fee. What is the interchange fee? The interchange fee is part of your transaction fee that your business will pay when a customer pays with a credit card. The customer doesn’t get impacted […]
Payment Processing Companies
Payment processing companies provide the full service to allow merchants to accept credit cards or debit cards. Some of the more advanced payment processing companies allow processing with multiple currencies, cryptocurrencies, PayPal, and other progressive payment methods. Payment processing companies in the value chain There are many names that payment processors are sometimes called generically […]
Do I always need a merchant account for merchant services?
People generally think that credit card processing is new but the concept was used 200 years ago in the early 1800s. Modern plastic credit cards were not used, but financial institutions provided merchant services to extend credit to merchants. That was the start of merchant accounts. Merchant were able to provide credit to their most […]
Payment Processing in Canada
Payment processing is very geographical. Each country has its own regulations with their own banking system. In Canada, any payment processor that offers a merchant account needs to be approved by the card brands they offer in that country, such as Visa, MasterCard, and AMEX. In addition, each payment processor needs to have a sponsoring […]
Gross vs Net Funding in Payment Processing. You Choose.
When you accept payments, funds get automatically deposited into your bank. This generally happens within 3 business days. By the way, Clearly Payments deposits your funds in less than one day. The funds being deposited into your account is also called settlement. One of the options that our merchants get to choose is whether they […]
Top Payment Processors in Canada in 2021
There is no “one size fits all” in payment processing. If you’re looking for the top payment processor, figure out what is important to you. The main things you’ll want to consider are the ways you accept payments such as online, physical storefront or office, or mobile. The second thing you’ll want to consider is […]