Can you explain merchant processing?
Can you explain merchant processing? In order to accept payments via credit/debit cards for your event, a merchant account needs to be set up with a merchant processor. Supported processors include: Authorize.net, PaySelect, DataTrans, LinkPoint, CyberSource, Moneris, PayPal PayFlow and Elavon. Each merchant processor has different rates and terms of service. Before establishing a merchant account, you should research each processing company to determine if they are a good fit for your needs and you understand their rate structure.
Most merchant processors will charge a percentage of your transaction amounts (sales), a per transaction fee or a combination of both plus batch fees, monthly minimums, refund and charge-back fees. If your event is outside of the continental U.S., Hawaii or Alaska, ensure that you ask the merchant processor if they allow transactions from that country/state and what currencies they will accept. Once a merchant account is set up, rsvpBOOK.com will connect your merchant account to your rsvpBOOK member account. The payment gateway is a link between the registration page and the merchant account. Setting up the payment gateway has to be done by rsvpBOOK’s IT security manager. Once the gateway is established, all monies generated from sales on your registration page are deposited into your bank account directly.
The possible ways of using rsvpBOOK are endless. The system can be used for everything from a company picnic, awards dinner, employee appreciation trip to Cancun, annual conference, and registering for training/classes. Over the years we have seen creative uses of the system that include booking clowns for birthday parties, guided tours to Jerusalem, weekly webinars, movie premiers, fantasy football drafts, and block parties. You can use rsvpBOOK to conduct online registrations for virtually any type of event.