| What is Bureau Merchant Status and what is its relationship to Credit Cards? |
A business, trader or merchant has Bureau Merchant Status when it has entered into an agreement with one of the leading Credit Card Processing Organisations to process, clear and authorise credit card transactions from its customers . Within such agreements, the Transaction Organisation normally process the complete transaction almost instantly whilst the buyer is online, which is beneficial to both the buyer and the trader.
In addition, this is carried out in an extremely secure environment and the service is always available, 24-hours a day, 365-days a year! Depending on the Transaction organisation being used, Traders are usually notified immediately by Email when the transaction has been authorised, enabling the Trader to safely process the order in the normal way.
Many Traders find this to be one of the most reliable, secure and satisfactory solutions for taking orders and payment online, particularly as it enables them to make sales online 24-hours a day throughout the entire year!
Registration fees for bureau facilities can range from zero to £300 or more, although PayPal for example, is free to join. Transaction charges range from around 3% to 12% of the total sale price, depending on the contracted terms. |
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