What is the difference between a loan and a merchant cash advance?
Small business owners have various options when they need funding for their operations. Two of the most common financing options for small businesses are loans and merchant cash advances (MCAs). Although they both serve the same purpose, they have significant differences. In this article, we will explore the differences between loans and MCAs, the pros […]
Card Surcharge Ban: Understanding the Changes and Its Impact
The card surcharge ban was introduced in January 2018 to eliminate the practice of retailers charging customers extra fees for paying with their credit or debit cards. The Background Before the ban, merchants were allowed to add surcharges to cover the cost of processing card payments. These fees could be as high as 20% and […]
What are interchange fees?
Interchange fees are critical to the payment card industry, affecting merchants, acquirers, issuers, and consumers. The card-issuing banks charge these fees to merchants for accepting payment cards like credit and debit cards. As a result, interchange fees are one of the highest costs for merchants, and understanding how they are calculated is essential. At their […]
Introduction to Merchant Cash Advance
A merchant cash advance is an unsecured loan that provides small business owners quick funding. Unlike traditional bank loans, which require a lengthy application process and offer fixed repayment terms, merchant cash advances provide financing in a matter of days and offer repayment flexibility based on the daily credit card sales of the business. The […]
PCI Compliance for UK Businesses
Accepting customer payments is crucial to your operations as a business owner. Whether you’re an online retailer, a brick-and-mortar store, or a service provider, you need to ensure that your customer’s payment information is protected from fraud and data breaches. One of the most important ways to do this is by complying with the Payment […]
