I work in a dirty industry and have to spend a lot of time apologizing for it. The industry? Credit Cards and their Merchant Accounts. If you are wondering, "What the heck is a Merchant Account?", don't be embarrassed. Most do not know. Simply put, in order for a business to accept credit cards, they must have a Merchant Account.
Having spent years involved in Master Card-Visa Law and the Credit Card Processing Software industry, I have people and companies call from across the country that ask advice on certain topics. Having done that, I would like to share the ups and downs of this secret knowledge with you. After all, though it's made to be overly complicated (and on purpose), most of it is common sense. My Daddy always said, "Most medical jargon is just common sense. Doctors just like to inflate it to earn a paycheck." Well, that is true here as well.
There is no charge for this data, and I have little to nothing to gain from sharing except that maybe when I am sitting in my house eating take-out Chinese and watching a movie, I can say 'I helped another one' as opposed to avoiding thinking 'another one got duped.'
That being said, there is no quiz later, but you should still pay attention. The real test is the business world and the grade is how much or how little you paid. Feel free to refer back often and send in any questions. You may be thinking a question that a thousand others would like to know.
Read up and be safe out there...
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