For the past few years, the IRS has been working on a new law requiring all merchants to provide reports on their merchant account processing volumes. These new requirements under IRS Code Section 6050W are likely
The credit card has become a simple and convenient way of buying products and services worldwide, yet most of us rarely consider the “behind the scenes” aspects of transaction processing services and how it has evolved over time.
Traditionally businesses considered to be high risk by banks have a difficult time securing a merchant account. Merchant accounts for non-controlled pharmacies fit this bill perfectly. Although non-controlled pharmacies are one of the fastest growing online businesses
Banks nationwide are struggling with the dilemma of offering merchant accounts to medical marijuana dispensaries. Not only do such businesses find it difficult to get needed credit card services, they also face challenges opening simple bank accounts.