Acquire Merchant payment services to make easy payment collection on sale

1. Acquire Merchant payment services to make easy payment collection on sale A business needs to conclude a purchase by completing the money transaction at the point of sale (PoS) or the cash register. Conventionally a cashier at the exit point of a business establishment collects the money from the customers against the purchases made by them and deposit in a cash box. The system was more than slow as the cashier needed to price the products and calculate the amount before producing the bill to the customers which sometimes culminated into long queues during busy business hours. Thanks to the computers now the merchant payment services has changed and now we have desk mounted PCs billing the purchases and calculating the amounts and producing bills through printers attached to them. Businesses now use a broad category of financial services to conclude sales and the biggest invention is the accepting of various cards that are encrypted and secure for payment namely credit cards, debit cards and other RFID/NFC powered devices. Using the new concept and the cards offers a large number of advantages to both the merchants and customers making shopping and selling experience a better one as it is done faster and the services provided would include processing of credit and debit cards, checking payments and guarantee, processing of gift vouchers and coupon codes, availability of payment gateways, installation of PoS systems at cash counters, automated clearing of payments etc. A merchant to avail the merchant payment services may need to open an account with the service provider either directly through Banks or B2B services. Most of the top banks operating around the world offer the services and refer their customers to a merchant service which would provide the above mentioned facilities to the merchants. Apart from the desktop based payment accept devices the merchant service providers would also provide with the mPOS systems and PED or mobile pin entry services which will connect with a mobile phone through Bluetooth and afterwards to the banks through wi-fi to complete sale payment transaction. This kind of payment transaction devices do not need to have an account with the provider but will be still in touch with the buyer or acquirer of the system. This mode of payment acceptance system may cost a little more than the normal card swipe transaction so it is advised that the acquirer use it sparingly. Summary This article is about the merchant payment services that enable merchants to process payments through credit/debit cards or through mobile devices using the PED technology.