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Mobile payment apps are usually free, but many have per-transaction fees. In addition, businesses will incur credit card processing fees regardless of what payment system they use.
The company was founded in 1999 as TransNational Bankcard, Inc. by John Pitzaferro. The company later changed its name to TransNational Payments, Inc. Pitzaferro said he had the idea to create the company after spending 16 years working in merchant services where he witnessed the lack of transparency in the industry. [2]
The core company employs more than 1,300 people, boasts a network of over 3,000 sales partners, and works with over 350,000 merchants throughout the U.S. [1] In addition, the company works closely with top technology developers and ISVs (independent software vendors) to provide customized solutions for their partners and customers.
There are varied types of electronic payment methods such as online credit card transactions, e-wallets, e-cash and wireless payment system. [5] Credit cards constitute a popular method of online payment but can be expensive for the merchant to accept because of transaction fees primarily. Debit cards constitute an excellent alternative with ...
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[5] [8] At the time, it generally took merchants about one month to set up a payment system and merchants had to pay for their credit card readers and sign a lengthy application. As an alternative, Isaacman's new company cut the set-up time to one day, gave merchants free credit card readers and only required merchants sign a two-page ...
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