Repayment of cash advance will be collected through a flexible and automated system of partial withholding from
future debit and credit card transactions — a small and agreed percentage of each credit sales will be collected as payment until cash advance and fees are paid in full.
The advance is a lump - sum given in exchange for a percentage of
future debit and credit card sales.
Not exact matches
Users can also put in their
credit or
debit card details on the app for faster
and smoother transactions in the
future.
The store only accepts bitcoin
and cash at present, but the company will expand their payment options to
debit and credit cards in the near
future.
With a merchant cash advance, a business owner sells a portion of their
future credit and debit card sales for money they can use right away.
The huge
and growing amount of
credit card debit results in millions of people paying billions of dollars on high interest
credit card bills, instead of saving
and investing for a financially secure
future.
Although it is estimated that 40 percent of
debit cards and more than 70 percent of
credit cards that will be issued before the end of the year will employ EMV technology, many pet retailers, especially those with a relatively low volume of
card transactions, may find the cost of upgrading to accept EMV
cards could outstrip the potential
future costs of fraud.
The new platform is planning to make Blockchain accessible to the public by accepting traditional payment methods such as
debit and credit cards, as well as cryptocurrencies such as Bitcoin, NEO
and Litecoin in the
future.