my articles | learn more about DirectoryM articles | contact us | advertise with us   
 
SEARCH:
Quick Search Results

Searching...

ABOUT US | VIEW ALL FEATURED ARTICLES | VIEW ALL TOPICS | VIEW ALL REGIONS | DM MOBILE | DM BLOG

Defining the Different Merchant Account Types Indiana

In the payment processing industry, every merchant is classified into a specific "merchant account type" category, based on how they collect card information and conduct transactions. To learn which category your business is classified under, we have defined the characteristics of each merchant account type in this article.

Local Companies

Merchant Warehouse
866-599-3217
Evansville, IN
Merchant Warehouse
866-599-3217
South Bend, IN
Merchant Warehouse
866-599-3217
Indianapolis, IN
Merchant Warehouse
866-599-3217
Fort Wayne, IN
INDIANA PAYMENT SOLUTIONS
866-348-9777
1000 Merchant Ln.
Evansville, IN
Storage On Sterling
(574) 294-4958
1800 Sterling Ave
Elkhart, IN
First Discount Travel
(317) 596-8890
9314 Champton Dr
Indianapolis, IN
Southern Bells Inc
(812) 847-4145
1459 A St NE
Linton, IN
Pos Card Systems
(812) 634-9784
3694 N Newton St
Jasper, IN
Corey Christy
(317) 598-0928
12653 Largo Dr
Fishers, IN


Defining the Different Merchant Account Types

In the payment processing industry, every merchant is classified into a specific “merchant account type” category, based on how they collect card information and conduct transactions. To learn which category your business is classified under, we have defined the characteristics of each merchant account type in this article.

There are two main merchant account type categories, “Swiped” and “Keyed,” which reflect the basic methods used to capture card information. Within these main categories are sub-categories, broken down according to the business environment and processing technique.

“Swiped” or, “Card Present” merchants directly interact with their customers face-to-face and capture card information by physically swiping cards through a terminal or point-of-sale system. The sub-categories within this group include:

  • Retail Merchants: “Retail” merchants typically conduct business in a storefront or office where they interact with their customers face-to-face and physically swipe cards through a terminal or Point-of-Sale system.

  • Restaurant Merchants: “Restaurant” merchants require the ability to add tips to their charges (Note: Restaurants that do not process tips are still considered “Retail” merchants in this industry). Using a special tip function, they authorize a customer’s card for a certain sale amount and then settle that authorization with an adjusted price to include the tip amount.

  • Wireless/Mobile Merchants: “Wireless” or “Mobile” merchants need to accept and authorize cards wherever they are located, which is usually on the road. Using a portable wireless terminal, these merchants process on-site, real-time transactions at their customers’ locations.

  • Lodging Merchants: “Lodging” merchants (e.g. Hotels, Motels, and Bed & Breakfasts) authorize a customer’s card for a specific sale amount and, depending on the customer’s length of stay, will adjust and settle out that authorization a day or more later to include additional fees such as taxes, etc.

    “Keyed or, “Card-Not-Present” merchants indirectly collect their customers’ card information, and, depending on the business environment and technology used, can process transactions in various ways. The sub-categories within this group include:

  • Keyed Face-to-Face Merchants: “Keyed Face-to-Face” merchants eventually meet their customers in person to deliver the product or provide the service, but they don’t actually collect card information with the customer or card present. Generally, they take orders over the telephone, via fax, mail, email, or the Internet, and then manually key-enter card information into a terminal, software, payment gateway, or other point-of-sale system.

  • Mail Order/Telephone Order (“M.O.T.O.”) Merchants: “M.O.T.O.” merchants rarely, if ever, meet their customers face-to-face. Instead, these merchants collect orders and card information over the telephone, by mail, fax, or via the Internet, and manually key-enter transactions through a terminal, software, payment gateway, or point-of-sale system. Then, once payment for an order is confirmed, the product is shipped for future delivery.

  • Internet or E-Commerce Merchants: “Internet” or, “E-Commerce” merchants conduct all business through a website, so all card information is collected and transactions are processed online, in real-time, using a payment gateway that’s built into their website’s shopping cart. So, once the order/sale is confirmed, the card is charged instantly and the product is shipped for future delivery. (Note: This merchant type does not apply to businesses that only market on the Internet, but do not immediately process payments via their website, upon order confirmation.)

    • Featured Local Company

    Merchant Warehouse

    866-599-3217
    Fort Wayne, IN

    Read more about Defining the Different Merchant Account Types

    Regional Articles
    - Defining the Different Merchant Account Types Alexandria IN
    - Defining the Different Merchant Account Types Anderson IN
    - Defining the Different Merchant Account Types Angola IN
    - Defining the Different Merchant Account Types Auburn IN
    - Defining the Different Merchant Account Types Aurora IN
    - Defining the Different Merchant Account Types Avon IN
    - Defining the Different Merchant Account Types Batesville IN
    - Defining the Different Merchant Account Types Bedford IN
    - Defining the Different Merchant Account Types Beech Grove IN
    - Defining the Different Merchant Account Types Bloomington IN
    - Defining the Different Merchant Account Types Bluffton IN
    - Defining the Different Merchant Account Types Boonville IN
    - Defining the Different Merchant Account Types Brazil IN
    - Defining the Different Merchant Account Types Brownsburg IN
    - Defining the Different Merchant Account Types Carmel IN
    - Defining the Different Merchant Account Types Cedar Lake IN
    - Defining the Different Merchant Account Types Charlestown IN
    - Defining the Different Merchant Account Types Chesterton IN
    - Defining the Different Merchant Account Types Clarksville IN
    - Defining the Different Merchant Account Types Clinton IN
    - Defining the Different Merchant Account Types Columbia City IN
    - Defining the Different Merchant Account Types Columbus IN
    - Defining the Different Merchant Account Types Connersville IN
    - Defining the Different Merchant Account Types Corydon IN
    - Defining the Different Merchant Account Types Crawfordsville IN
    - Defining the Different Merchant Account Types Crown Point IN
    - Defining the Different Merchant Account Types Danville IN
    - Defining the Different Merchant Account Types Decatur IN
    - Defining the Different Merchant Account Types Demotte IN
    - Defining the Different Merchant Account Types Dyer IN
    - Defining the Different Merchant Account Types East Chicago IN
    - Defining the Different Merchant Account Types Elkhart IN
    - Defining the Different Merchant Account Types Elwood IN
    - Defining the Different Merchant Account Types Evansville IN
    - Defining the Different Merchant Account Types Fishers IN
    - Defining the Different Merchant Account Types Fort Wayne IN
    - Defining the Different Merchant Account Types Frankfort IN
    - Defining the Different Merchant Account Types Franklin IN
    - Defining the Different Merchant Account Types Gary IN
    - Defining the Different Merchant Account Types Goshen IN
    - Defining the Different Merchant Account Types Granger IN
    - Defining the Different Merchant Account Types Greencastle IN
    - Defining the Different Merchant Account Types Greenfield IN
    - Defining the Different Merchant Account Types Greensburg IN
    - Defining the Different Merchant Account Types Greenwood IN
    - Defining the Different Merchant Account Types Griffith IN
    - Defining the Different Merchant Account Types Hammond IN
    - Defining the Different Merchant Account Types Hartford City IN
    - Defining the Different Merchant Account Types Highland IN
    - Defining the Different Merchant Account Types Hobart IN
    - Defining the Different Merchant Account Types Huntington IN
    - Defining the Different Merchant Account Types Indianapolis IN
    - Defining the Different Merchant Account Types Jasper IN
    - Defining the Different Merchant Account Types Jeffersonville IN
    - Defining the Different Merchant Account Types Kendallville IN
    - Defining the Different Merchant Account Types Knox IN
    - Defining the Different Merchant Account Types Kokomo IN
    - Defining the Different Merchant Account Types Lafayette IN
    - Defining the Different Merchant Account Types Lagrange IN
    - Defining the Different Merchant Account Types Lake Station IN
    - Defining the Different Merchant Account Types Laporte IN
    - Defining the Different Merchant Account Types Lawrenceburg IN
    - Defining the Different Merchant Account Types Lebanon IN
    - Defining the Different Merchant Account Types Logansport IN
    - Defining the Different Merchant Account Types Lowell IN
    - Defining the Different Merchant Account Types Madison IN
    - Defining the Different Merchant Account Types Marion IN
    - Defining the Different Merchant Account Types Martinsville IN
    - Defining the Different Merchant Account Types Merrillville IN
    - Defining the Different Merchant Account Types Michigan City IN
    - Defining the Different Merchant Account Types Middlebury IN
    - Defining the Different Merchant Account Types Mishawaka IN
    - Defining the Different Merchant Account Types Mitchell IN
    - Defining the Different Merchant Account Types Monticello IN
    - Defining the Different Merchant Account Types Mooresville IN
    - Defining the Different Merchant Account Types Mount Vernon IN
    - Defining the Different Merchant Account Types Muncie IN
    - Defining the Different Merchant Account Types Munster IN
    - Defining the Different Merchant Account Types Nappanee IN
    - Defining the Different Merchant Account Types New Albany IN
    - Defining the Different Merchant Account Types New Castle IN
    - Defining the Different Merchant Account Types New Haven IN
    - Defining the Different Merchant Account Types Newburgh IN
    - Defining the Different Merchant Account Types Noblesville IN
    - Defining the Different Merchant Account Types North Vernon IN
    - Defining the Different Merchant Account Types Osceola IN
    - Defining the Different Merchant Account Types Pendleton IN
    - Defining the Different Merchant Account Types Peru IN
    - Defining the Different Merchant Account Types Plainfield IN
    - Defining the Different Merchant Account Types Plymouth IN
    - Defining the Different Merchant Account Types Portage IN
    - Defining the Different Merchant Account Types Portland IN
    - Defining the Different Merchant Account Types Princeton IN
    - Defining the Different Merchant Account Types Rensselaer IN
    - Defining the Different Merchant Account Types Richmond IN
    - Defining the Different Merchant Account Types Rochester IN
    - Defining the Different Merchant Account Types Rushville IN
    - Defining the Different Merchant Account Types Salem IN
    - Defining the Different Merchant Account Types Schererville IN
    - Defining the Different Merchant Account Types Scottsburg IN
    - Defining the Different Merchant Account Types Sellersburg IN
    - Defining the Different Merchant Account Types Seymour IN
    - Defining the Different Merchant Account Types Shelbyville IN
    - Defining the Different Merchant Account Types South Bend IN
    - Defining the Different Merchant Account Types Spencer IN
    - Defining the Different Merchant Account Types Tell City IN
    - Defining the Different Merchant Account Types Terre Haute IN
    - Defining the Different Merchant Account Types Valparaiso IN
    - Defining the Different Merchant Account Types Vincennes IN
    - Defining the Different Merchant Account Types Wabash IN
    - Defining the Different Merchant Account Types Warsaw IN
    - Defining the Different Merchant Account Types Washington IN
    - Defining the Different Merchant Account Types West Lafayette IN
    - Defining the Different Merchant Account Types West Terre Haute IN
    - Defining the Different Merchant Account Types Westfield IN
    - Defining the Different Merchant Account Types Whiting IN
    - Defining the Different Merchant Account Types Zionsville IN
    Rate Article
         
    Articles Insider
    Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin
    Topics:
    Advertising Educational Content Home Appliances Real Estate Resources
    Business Services Entertainment Home Electronics Software
    Career Family Home Services Technology
    Cars Fashion Internet Telecommunications
    Chamber of Commerce Financial Services Legal Trade Shows
    Computer Hardware Franchise Miscellaneous Travel
    Construction Health Nightlife Weddings
    Education Holidays Online Database World History
    Articles.DirectoryM.com | Search | About Us | Contact Us | Mobile | Blog | En Español
    Copyright © Interaction Media Group. All rights reserved.