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RES 20177290Page 1 of 3VILLAGE OF DOWNERS GROVE Report for the Village Council Meeting 3/21/2017SUBJECT:SUBMITTED BY:Merchant Services for Credit Card Payments Judy Butty Finance DirectorSYNOPSIS
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Merchant services for credit are financial services provided by banks and financial institutions to businesses to facilitate credit card and debit card transactions.
Businesses that accept credit and debit card payments are required to file merchant services for credit.
Merchant services for credit can be filled out through an online platform provided by the bank or financial institution you are using.
The purpose of merchant services for credit is to provide businesses with a secure and efficient way to process credit and debit card payments.
Information that must be reported on merchant services for credit includes the total sales amount, total number of transactions, and any processing fees.
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