In service-oriented businesses like restaurants, salons, bars, hotels, and ride-sharing platforms, tips and gratuities are crucial. Tips are essential for employee income in addition to serving as a means of expressing gratitude. They impact processing fees, settlement, payroll, and compliance, posing hidden challenges for merchants when paid by card. Profitability...
Keyed-in Transaction Definition
Have you ever typed a customer’s card number over the phone? Or keyed in information in your point-of-sale system because the chip wouldn’t read? That’s what’s known as a keyed transaction — a payment made when the details of the card are entered manually, rather than swiped, tapped or inserted....