Accepting credit cards for payment processing requires additional IRS reporting in the form of a 1099-K — a tax form presented to the IRS and used to report your processing volume. Gravity Payments is required...
Gravity Payments merchants can rely on 24/7 support. Call 866-701-4700 any time.
A pending transaction is one that has been successfully processed, but not yet posted to your bank account. There are a few uncommon scenarios that will result in pending transactions. One of the most common...
A POS, or point-of-sale, is a combination of hardware and software system that allows business owners to manage the day-to-day operations of their business, complete transactions, and take in data for analytics and reporting purposes.
Virtual Terminals Virtual terminals (similar to a payment gateway) provide the same functionality as a physical terminal in a brick-and-mortar store, except you’re accepting payments online and you manually key in the credit card information....
Credit card interchange is one of the most difficult aspects of processing. But it’s also one of the most important if you want to understand the fees your business is being charged. While all of the specific...
Learn what the FANF fee is, how it is calculated, and see examples of typical FANF fee calculations for different business types.
Learn all you need to know about the different EIRF interchange rates for credit cards, debit cards, and prepaid cards, and what the current EIRF rates are.
Statements are sent via email (for most merchants) at the beginning of each month. You can expect all fees to be debited from your account within the first few days of each month. All fees...
We recommend daily batch closures and daily reconciliation between your point-of-sale (or business management system), Gravity Payments, and your online banking reporting system. If you encounter a discrepancy, review your Gravity Payments reports or your...
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