Merchant-Accounts.ca: The Demystifying Payments Blog
An educational series to help you better understand payments and e-commerce.
Approval and Contract Issues
February 02, 2024
by David Goodale
If you sell expensive products or services you'll find that many payment processors want to hold back some of your funds in a reserve, or may even decline your merchant account application altogether. In this video David explains why this happens, and what you can do about it.
Why Is It Harder To Get A Merchant Account If You Process Large Ticket (Expensive) Transactions?
November 23, 2023
by David Goodale
Canadian merchants are protected by the Code of Conduct for the credit card processing industry. It's a set of rules that credit card processors must follow with the intent of protecting business owners from unfair pricing and contract practices. For example, it protects merchants from unfair price increases. In this video David explains the most important things that business owners should know about the code of conduct.
What is the Canadian Code of Conduct for Credit Card Processing?
Updated: September 08, 2023
by David Goodale
Travel is a fun and exciting part of life that we all look forward to. (Or at least we did pre-COVID). Why do travel companies so often have a hard time getting a merchant account? Further to that, how much harder has COVID-19 made it to get approved?
Learn why travel businesses considered high risk, and how to get approved...
August 28, 2023
by David Goodale
What should you do if your merchant account application is declined? David explains why payment processors decline some merchants, and how to turn it around and get an approval.
What To Do if Your Merchant Account Application is Declined?
June 12, 2023
by David Goodale
David explains what to do if your payment processor suddenly starts holding onto your funds, or implements a larger holdback or reserve.
What To Do If Your Payment Processor Is Holding Your Funds
March 15, 2022
by David Goodale
It's common for merchants to have security reserves, rolling reserves, or holdbacks from the credit card processor. In this discussion we explore how to reduce or eliminate them. Learn how to eliminate your security reserve...
June 24, 2020
by David Goodale
Why do payment processors have holdbacks or reserves on your merchant account? In this discussion we explain the concept of future delivery chargeback risk, and explore how to reduce the collateral held on your merchant account. Learn more about future delivery risk in the credit card processing industry.
Airline Credit Card Processing - How to Get Merchant Services Without Requiring Large Security Reserves
Dec 8, 2016
by David Goodale
Establishing credit card processing for an airline can be very difficult, especially for young airlines, but also even for well established carriers.
Learn about how to get payment processing and minimize security reserves if you operate an airline...
How to cancel an unfair credit card processing agreement
December 23, 2014
by David Goodale
One of the worst situations to find yourself in is being stuck in an unfair credit card processing agreement. They can be costly and difficult to get out of. In this article we'll explore ways to get out of the agreement at painlessly as is possible.
Learn how to get out of an unfair credit card processing agreement...