All processors ( FDC, Worldpay, Global Payments etc) are required to report credit card sales for each of their customers through 1099 reporting , This reporting is done on what is called a MID ( Merchant Identification)number. Every merchant accepting credit cards has one ( sometimes multiple)
Some processors charge merchants for this reporting services to the IRS which further drives up Merchant Services cost.
Some processors charge merchants for this reporting services to the IRS which further drives up Merchant Services cost.