TLDR: Using the Six Sigma LEAN process on your payment processing system can help reduce cost and ensure the longevity and ROI of your merchant account. ”Business as usual” is often used like the best/normal/desirable solution but can we improve this statement? Have you ever heard of the LEAN process? What does it mean and how …
Category Archives: MID Management
Managing Your MID’s Reserve Account
What is a reserve account?For merchants in higher-risk verticals (nutraceuticals, subscription billing , etc), many banks will require a reserve account to off-set the risk to the bank. To fund the account, a percentage of every batch will be deposited into the reserve account. Processing fees, refunds and chargebacks are deducted from your business checking …