Awepay

Author : Awepay A Merchant Cash Advance is a lump sum payment to a business in exchange for an agreed upon percentage of future credit card and/or debit card profits. The way this works is Merchant Cash Advance companies provide funds to businesses in exchange for a percentage of the businesses daily credit card income. This percentage is taken directly from the processor that clears and settles the credit card payment. A company’s remittances are drawn from customers’ debit- and credit-card purchases on a daily basis until the obligation has been met. Most providers form partnerships with credit card payment processors and take payments directly from a business owner’s card-swipe terminal. A Merchant Cash Advance is most often used by retail businesses that do not qualify for regular bank loans. A business cash advance can be expensive compared with interest on a bank loan, ranging from 10% to 100% effective interest. Merchant cash advances are not loans – they are a sale of a...

Author: Awepay Despite the best efforts of many to help the world be rid of them once and for all, the check remains a surprisingly difficult method of payment to completely kill off. Nobody actually likes them, or really has anything positive to say about them in public, but they’ve shown a surprising amount of staying power in various corners of the U.S. economy. Pushing small and medium-sized merchants away from checks – and toward digital payment methods by firms like Square and Stripe – has been a prominent and popular front in the war on paper payments. Disbursements, Ingo Money’s EVP and chief product officer Lisa McFarland told Karen Webster, has been another. On some fronts, there’s been a lot of progress made – particularly in areas like direct deposit, which has largely killed the paycheck. According to NACHA reports, 82 percent of workers make use of direct deposit, and 87 percent report being satisfied with the service. That’s a big win and a big satisfaction...