Credit Card Processing

Merchant Accounts making Home Businesses Savvy

2007-04-25T04:04:00.000-07:00

A home based affiliate business program is simply a program in which you earn commissions by selling someone else’s product or service. You can also earn by simply advertising for a site. You may choose to join an affiliate business program on the internet. It would be best if you have your own website, and it would be even better if your website is conductive to selling goods and services of your merchant partner.

With an easy and attractive business idea, you need determination, strong will power, hard work, enthusiasm and some know-how. How would it be if you could make your business savvy, by some attractive merchant service?? Yes, merchant accounting can render your home business savvy.

Home business owners can add quality to their home business by opening a home based merchant account. These are special accounts that are set up by a bank or through an Independent Sales Organization (ISO), and allow your business to accept credit card payments for goods and/or services.

The following factors must be considered while opening a home business merchant account.
. Firstly, the medium through which the sales will be undertaken should be considered; it will be online or by mail or phone or in stores. How you plan to sell your products or services should be decided.
. Secondly, it is really important to select an internet gateway system before opening a home business based merchant account in order to conduct hassle free and safe financial dealings.
. Thirdly, it is important to select the most suitable merchant account provider, who matches your needs. You may opt to open your merchant account with a bank or through an independent sales organization (ISO).

Merchant accounts surely make your home business savvy. All that is required is a little caution and awareness. Being your own business you are best aware of its requirements and directions. Don’t forget to carry out thorough investigations before every step you take, in order to be on the safe side.

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Mail or phone order as a convient way to shopping

2007-04-24T03:44:00.000-07:00

Today, buyers are opting to shop by placing orders by phone or mail, to make purchases of their choice. Internet buyers’ sites or e-shopping sites offer products that visitors can procure through the medium of a telephone, or by placing an order by mail. This is a much more convenient way of shopping, rather than shopping in a store. In addition, you can take vital information about the product and the company from the website. You can browse through the variety of products that are available. Ordering by mail or by phone saves you from traveling and the rush; hence saving your time and money. It gives you a convient way to discuss the product, the price, and special offers with your family and friends before buying.

While ordering by mail, there are certain precautions that must be entertained.

. Be sure that you have understood every term and condition mentioned in the site.
. Go for the product only after reading and knowing about each and every aspect of it.
. Make sure you have understood the offer.
. It is really important to take a look at the street address and the phone numbers of the company offering you products, to make sure that you are not get tricked by some fraudulent company.
. Always make sure that you have entered your correct address and phone number on the ordering form so that there is no room left for errors in billing or shipment.
. The mode of payment should be carefully chosen. Cheques or credit card are two good alternatives.

Similarly, while ordering by phone, there are certain precautions that must be considered.

. Identify the person you are talking to. Make sure you are talking to the right person.
. Ask questions instead of keeping doubts in your mind. Request details about products or services, or any other question you wish to ask.
. Check for voice clarity and make sure that the other person understands you and visa versa. Incase voice transmission is unclear; don’t hesitate in requesting the representative at the other end to speak loudly, so that you can communicate without any problem.

Opting for phone or mail as a medium for shopping is surely beneficial, only if you take proper care while ordering. Simple precautions, as listed above, can save you from all predicaments that may arise while you’re shopping by mail or phone.

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A glance at merchant services

2007-04-23T04:03:00.000-07:00

Merchant service is a single source for all your credit cards transactions and credit card processing business needs. These services make accepting cards with a merchant account quite easy and very fast. Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or debit card. Common terms used to state merchant services are credit and debit cards payment processing, check gaurantee and check conversation services, automated clearing house check drafting services or gift and loyality card programs.

Some remarkable benefits of merchant services includes increase in revenue as the clients who can use credit cards generally buy more in comparison to those who are limited to cash payments. The second important benefit achieved by merchant services is increase in sales as by offering more payment options one can help increase sales.

Merchants of the present era want to have control in regards of choosing a merchant account plan that best fits the financial and business requirements of their business each and every month. Proper satisfaction is not found in the expensive one size fits all payment options that are currently being offered in today’s commerce market place. They don't want to fill out additional merchant account applications and disrupt their business in order to switch to a more financially beneficial plan or to pay steep equipment purchase/lease investments and cancellation fees.

Mostly, there has been seen some dissatisfaction from the merchants like retail associations in regard to the over all high fees that they are required to pay in order to accept bankcard payments at the point of sale. It is felt that from a financial standpoint, merchant account provider’s high fees is prohibiting the growth of new merchants and customers; that is at a whole hurting their revenue streams from their customers or clients.

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Smart Credit Card Use in Your Home Business

2007-04-23T03:58:00.000-07:00

Credit cards offer home-based business owners a tempting source of emergency financing. They present very serious risks for entrepreneurs in need of operating funds. Some experts compare credit cards to drugs: They offer short-term pleasure in exchange for long-term pain. Once the Credit Card Demon gets his hooks in you, it can be painfully difficult and sometimes impossible to free yourself.

Millions of consumers and business owners are in over their heads with credit card debt, and many others are taking their first steps down the road to financial unconsciousness.

The credit card companies are so good at what they do that they’ve managed to put more than one billion cards in circulation for every man, woman, and child in America. An average of 12% interest on that average of over $8,000 balance comes to nearly $1,000 per year in interest charges that won’t buy a single item for inventory or make one rent or utility payment. What’s worse, those figures are only averages. Millions of consumers and small business owners have sunk far deeper into a financial predicament, with little or no hope of ever getting out, unless they change their ways.

Strangely, credit cards in themselves are not harmful. In fact, used skillfully they can be an important financial plus for the typical small business owner. Without credit, many of our small businesses would not exist. Without credit, most Americans would have no hope of ever owning their own homes or automobiles. Without credit, the quality of life for most people would be far less attractive.

But credit as we know it today has its dark side as well. Credit cards the newest form of credit carries special risks for those who lack the self-discipline to use credit wisely. A pocket full of credit cards can sweep you up in the illusion that you have more money than you actually have and that’s where the trouble begins.

Some of the wise ways to use credit to your advantage include, Keep no more than two credit cards, Win the credit card game by using other people’s money to make your routine monthly purchases, Carry a reasonable amount of cash to pay for small purchases, Know the costs of credit, Shop around for the best deal, Check your credit report annually and Focus on needs, not wants.

The bottom line is by using your credit cards wisely you can reduce adverse effects of credit cards and maximize the benefits by spending wisely, using self-discipline, and paying off your balance as quickly as possible to avoid unnecessary fees.

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Money-making Possibilities of Merchant Accounts for Home Businesses

2007-04-19T00:58:00.000-07:00

Businesses survive on the life blood of cash flow. The same holds true when you are running a business out of your home. Most work-at-home people fail within 6 months due to ever rising interest rates and limited financial training. The primary reason is bad cash management! Self-employed people think they don’t need to accept credit cards owing to the size of their enterprise. They neglect the need to get a merchant account and other pre-requisites to start accepting credit cards. If you are one of these home-business owners, you’re definitely on very shaky ground.

Managing your cash flow effectively is all about getting the money from customers sooner, concentrating money to a single bank account, managing accounts payable, accounts receivable and inventory more effectively, and squeezing every penny out of your daily business. Accepting credit cards for your products and services, makes this possible!

Most shoppers are impulsive! They see a product, like it and reach out for plastic to initiate the payment process. If then, a potential customer is informed that you do not accept credit cards, not only is the sale lost in that crucial moment, you will probably never see that customer at your doorstep again. That customer and several others will look elsewhere, where a payment option is offered that can service their needs.

Anyone starting a home-business must offer customers a safe and fast transfer of their hard earned cash. To gain the trust of your potential and existing buyers, you need to select a processing company that ensures a safer, quicker or easier transaction, in comparison to their fierce competitors in the industry.

Make sure your customers can pay by Visa, MasterCard, American Express, Discover, Euro card, Bravo, Diners Club, Carte Blanche, JCB, and online checks. This customer focus will pay dividends in increased sales and acceptance.

Being able to process credit card payments for your home-based business is a practical business idea- an idea that not only helps you survive in the bottleneck competitive situation, but walks you through every aspect of starting, managing and growing your new home business. Explore the money-making possibilities of merchant account for home businesses and use them as your keys to your success!

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All about Internet Merchant Accounts

2007-04-17T23:45:00.000-07:00

To be able to accept credit card payments for your online business, you need to acquire an internet merchant account, in which the credit card information is transmitted using a secure channel from the merchant’s website to the acquirer’s processing network, and back. The choices are limitless! However, before you make your pick, make sure that you understand the different components of internet credit card processing and know what exactly to look for!

With all the multiplicity online for Internet credit card processing, it can be hard to find the best solution. Take the guesswork out by choosing a low-rate, flat-fee, direct merchant account backed by a reputed bank. The internet merchant services provider of your choice must be an expert in shopping carts, payment forms, terminals, wireless devices and have years of experience in supporting merchants of all sizes.

The staggering results for “Internet Merchant Accounts” on the internet may leave you baffled. Firstly, to qualify for an Internet merchant account, you must either have a checking account with a U.S. bank, or you may approach an acquiring institution to assist you. For accepting payments from your customers and the money being deposited in your bank account, you need three things:

. Payment Gateway
. Internet Merchant Account
. Web Site

In addition, you may possibly use your existing merchant account, but it must be specifically designed for Internet transactions. Check with your existing merchant account provider to see if they can provide you with an Internet merchant account. You will also need a payment gateway to facilitate the transaction processing. It should be one that provides a secure connection from your online store to your Internet Merchant Account and your payment processing network.

Fees may vary from provider to provider. Typically, an internet merchant account will have an application fee, a minimum monthly fee, a monthly statement fee, a per-transaction fee, and all acquirers charge a discount rate, a percentage of the transaction. It usually takes 2 business days for the money to be deposited into your account. Again, this may vary and you must consult your provider to confirm the time taken for the complete transaction to take place.

Online transactions are prone to credit card fraud. Fraud protection should be one of your primary considerations when choosing an internet merchant account provider.

Finally, plan ahead! That can save you a lot of time and money!

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Wireless Equipment for Credit Card processing on the go!

2007-04-17T00:06:00.000-07:00

Merchants on the move can process credit card payments using Wireless Credit Card Machines. This equipment comes in handy especially in restaurants and cabs, where a credit card machine with the cable is not feasible. To use a wireless credit card machine the merchant must have a wireless merchant account.

Internet is a rich medium, where you can easily locate a wireless merchant account provider. It takes just a couple of days to assess and process the merchant’s application. Once, an application is approved and a merchant account is set up, it is time to purchase the wireless equipment of your choice and start accepting credit cards on the go!

The portable equipment enhances the efficiency of the business. While choosing a machine the range, battery life, weight of the machine and its shock resistance power should be taken into account. The machine must be light weight as it has to be carried around while shock resistance is critical in case the device falls or is accidentally dropped. Taxi drivers, seasonal businesses and large scale businesses such as restaurants benefit from the device.

There are several suppliers of wireless credit card machines on the internet and otherwise. Major manufacturers of wireless credit card terminals include Way Systems, Nurit and VeriFone. Now, it is your job to search for a supplier who offers you the lowest price on your wireless credit card terminal.

What you need for your business is a flexible, lightweight, handheld terminal that enables fast, secure, error-free transactions for on-the-go merchants. With your equipment, you should be able to support a range of payment & value-added services - including credit, debit, T&E, EBT, smart cards, prepaid, loyalty, gift & proprietary cards - as well as business management solutions such as inventory control, dispatch, delivery, etc.

Also, you can use your cell phone to accept credit cards wirelessly. Your cell phone program must allow you to obtain real-time authorizations just about anywhere. In addition, if the transactions are swiped, standard retail rates apply. This allows you to receive lower discount rates than seen with manual entry "keyed" transactions. You may choose between printing and non-printing solutions, in accordance with your needs.

In conclusion, your wireless equipment should provide you with a suit of comprehensive services, to meet all your business needs.

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Wireless Credit Card Processing Using Mobile Phones

2007-04-16T00:04:00.000-07:00

It is possible for you to use your existing data-enabled phone to swipe credit cards in order to accept payments, while on the go. This method of credit card processing accommodates all different business types, by accepting tips and gratuity, recording invoice numbers, as well as many other helpful features. Hardware and software is completely interchangeable between all compatible cellular phones. Hence, if you decide to change your provider, switching cell phones will not be a problem.

There are different types of swipers available that can be attached to the mobile phone, in order to carry out credit card transactions. You may get a swiper that directly attaches to the side of your mobile phone and operates off of the phone's power supply. This solution allows you to quickly and easily swipe credit cards using your mobile phone. You may get this swiper with or without an electronic printer unit.

Various sleek and durable models are available, that are easy to carry and do not obstruct the user in any way. Some swiper printer combinations come with leather cases and can be attached to your belt to make credit card processing a convenient task. These devices come with internal rechargeable battery too.

Following are the benefits you receive by processing credit cards using mobile phones: -

. It is a low cost solution
. It provides the ability to process payments in the field
. Supports multiple front-end processors.
. AVS security
. Allows you to process all Visa, MasterCard, American Express, and Discover cards.
. Portable! Pick up the phone and take your payment processing on the road.
. No phone line installation needed at trade shows or outdoor sales events
. You can get to know if a card is approved or declined at the point of sale.
. Fast cash flow. All the transactions you accept are usually deposited into your account within 24-48 hours.
. Its easy and simple.
. No limit in accepting payments (greater clientele).
. No more losing checks or cash money.

Many businesses in various mobile industries may find wireless credit card processing very appealing. These might include those involved in maintenance or delivery services to homes, towing companies, food delivery, transportation services, tradeshows, etc. Wireless credit card processing using your cell phone gives your clients the option of paying with credit. This will reduce your receivables and shall really augment your business.

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Merchant Account Information for Beginners

2007-04-11T00:57:00.000-07:00

For Online businesses, a good start with a merchant account is of paramount significance. Firstly, before embarking on the journey of credit card processing, your business must be completely established. Once that is done you may initiate the application process for a merchant account, which will allow you to accept credit cards through your website. Following is a list of pre-requisites for acquiring a merchant account.

. A merchant account supplier will want to see that your business actually exists.
. A merchant account supplier may require that you have a registered domain name.
. A merchant account supplier will verify much of the information you submitted and will also approve or deny your application based on a number of risk assessments.
. Once you have been approved for a merchant account, you will be able to set up your merchant account processing software or appropriate links.
. Later, after you have successfully set up your merchant account access, your customers will be able to make purchases via your merchant account access.
. You will be charged a transaction fee and a discount fee for each transaction, and a monthly statement fee from the merchant account supplier.
. You may be required to set up a reserve based on the risk assessment initially conducted on your business.
. If you are denied a merchant account based on the risk assessment conducted, you may collect credit card payments through a third party.

Merchant accounts and third party processors can literally change the way you conduct business on the Internet. If done properly, the process of accepting credit cards requires no technical knowledge and a modest capital. The process is simple if conducted the right way. You’ll be ready to accept credit cards within a week!

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Processing with a wireless credit card terminal

2007-04-09T03:00:00.000-07:00

You find yourself doing business at different places at different times? Well, wireless credit card processing enables you to accept credit cards no matter where you do business. If the flexibility to accept credit cards is what you need to be able to process a transaction, wireless credit card processing is your safest bet. This solution is fit your business to become a great success.

Today Wireless Credit Card Processing is widely available with

. Competitive Rates
. 24/7 Customer Service and Support
. the ability to accept from virtually any location
. wireless terminal solutions
. No or minimum set up and application fees
. Equipment warranty

For mobile businesses, the easiest way to conduct business is by processing with a wireless credit card machine. Millions of dollars are spent by Credit card terminal manufacturers in developing and testing their terminals to guarantee that the equipment they produce is reliable, secure, long-lasting and user-friendly. With a wireless terminal you are sure to get a working, tested piece of equipment meant to do exactly what it is supposed to do.

The working of wireless credit card machines is precisely like traditional credit card machines, except the transaction occur over wireless networks instead of phone lines. Wireless credit card terminals are the most advanced processing equipment available, but still incorporate time-tested technology to ensure their continued reliability.

Currently recommend are terminals that are able to operate on the GPRS wireless network, giving it a huge advantage in wireless availability over any other wireless terminal. Wireless terminals the most cost effective and convenient method available for wireless credit card processing.

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The working of Wireless Credit Card Processing

2007-04-05T01:58:00.000-07:00

Mobile industries involved in maintenance or delivery services to homes, towing companies, food delivery, transportation services, tradeshows, etc, may find wireless credit card processing very appealing. With the technology today and advances in this industry, the ability to be in business is truly a reality. This is how wireless credit card processing takes place.

. The merchant swipes the customer’s credit card through the wireless credit card machine and punches in the amount that is to be billed.
. This information is routed through a radio tower to the Merchant Warehouse’s processor, via a technology that is very similar to the working of cell phones.
. The processor passes that information onto the bank that issued the credit card.
. The bank checks for the validity of the card, confirms whether enough credit is available on the card and also makes sure that the card wasn’t reported as stolen.
. After complete verification, the amount due to the merchant is set aside for payment.
. Subsequently, an approval number or a decline message is sent back to the processor, who sends it back to the mobile credit card machine.

This entire procedure takes no more than 20 seconds to complete. At the end off the day when the merchant settles his terminal, the funds are transferred from the card issuing bank and deposited into the merchant's checking account within two business days from the time of the original transaction.

Wireless credit card processing allows you to accept credit cards anywhere. The on the move business is so mainstream in the marketplace with tradeshows, flea markets, outside tent events, Carpet Cleaning, Locksmiths and much more. Wireless credit card processing is a must have for the entrepreneur in you.

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Wireless Credit Card Processing

2007-04-04T02:46:00.000-07:00

Due to limited resources, mobile merchants have always been restricted to receiving their payments by cheques or cash. However, today, mobile merchants have access to the same technological advances, as do retail merchants. Merchants on the move now have admittance to wireless credit card processing services. All types of businesses can take advantage of wireless credit card processing. Some examples are- Flea markets/trade shows, Barbers, Pizza Delivery, Plumbers & Electricians, Taxi & Limousine Companies, Lawn Services, Home Inspectors, Pest Control, Catering Service and many more!

Wireless Technology allows for the benefits of security and additional sales. The risk of handling cash and accepting cheques is eliminated. Also, with dedicated networks developed for wireless credit card processing, transmitting and receiving data has become faster than most cell phone networks. Following are few more benefits of wireless credit card processing that might interest you:-

.Being small, light weight and portable, you can carry it around in your pocket.
. You can now accept credit cards wherever you are, be it a parking lot, on the road or at the customers place.
. No second phone line needed, which saves you money.
. You can save you hundreds of dollars per month by swiping cards.
. Risk is considerably reduced.
. Increased security.

Also ensure, that your wireless credit card processing provides you: -

. Low Fees
. Start processing within 24 hours
. Mailed monthly statements
. 24/7 hour tech support
. 100% secure transactions
. Process all major credit cards
. No long distance charges to pay

The above benefits make wireless Credit Card Processing a simple, pleasant process. It's fast and it's easy. This phenomenal service allows you to provide the same standards of satisfaction to your customers as well. Wireless Credit Card Processing will come in very handy for you as you interact with your customers. Its quality customer service in the field!

In short, wireless credit card processing offers added flexibility and opportunity for mobile merchants. All you need to do is set up a merchant account and get started doing wireless credit card processing.

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POS Swipe Terminal for Retail Storefronts

2007-04-03T03:53:00.000-07:00

Retail merchants must exercise extreme caution when applying for a merchant account or purchasing point-of-sale terminals. This is because a wrong choice made right in the beginning may catch you by surprise at a later and more crucial stage of business. The wrong merchant account provider can mean paying high priced leases on a terminal your business doesn't need, and even paying high monthly fees. Something you can definitely avoid!

Thus, it’s crucial that during your process of getting a merchant account, you select the right terminal for your business needs. Step one is to completely understand retail merchant accounts. You need to know what a merchant account is and what it does. In retail businesses, a customer swipes his credit card through a terminal. The credit card information then is passed securely to a credit card processor that checks for credit available in the customers account, and ensures that the card has not expired or wasn't reported as lost or stolen. If there are enough funds, the particular amount spent at the retail store is deducted from the account and the money is transferred to the merchant's business checking account within 2 to 3 business days. If there are not enough funds, the card is rejected.

Step two would be to prepare your retail storefront. It’s important for you to decide where you’re going to place your credit card processing equipment. For your convenience and for the comfort of your customers, you need do think of certain aspects when deciding where to place processing equipment:

. The POS terminal should be easily accessible to the customer, especially if you also intend to accept debit card payments. While using a debit card, customers need to enter their pin number. They should be able to achieve that without much ado.

.The faster the payment process, the better for the merchant as well as the customers. Thus, keep your terminals handy and not at the other corner of the store.

.Ensure that you have telephone jacks placed at handy places to connect your POS terminal.

.If u have lesser or crammed counter top space, you may go for an all-in-one integrated terminal solution instead of separate equipment.

.Also, do not use the same phone line for receiving phone calls and processing payments. That can slow your sale process and cause discomfort. Instead, get a separate dedicated phone line for your POS terminal.

POS Swipe Terminals are a great payment solution for Retail storefronts. Getting important information together ahead of time will ensure that you breeze right through. All the best!

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Managing Risk and Fraud in Merchant Accounts

2007-04-02T02:15:00.000-07:00

Every merchant account provider must provide advanced fraud management solutions, designed to save the merchants money and protect his data. To combat online fraud, a fraud management solution must be in place. Something like Verified by Visa and MasterCard Secure Code service would be ideal. These fraud management services facilitate companies in developing inexpensively, devoid of avoidable risk or turning away genuine customers.

Advanced fraud management is important. This is evident when we calculate the losses that a merchant may incur if he falls pray to fraudulent activities. When dealing with scams, merchants lose more than just the worth of the stolen merchandise: they also refund the full purchase price and shipping costs to the cardholder.

Address Verification Service (AVS) must be made part of your fraud management solutions. AVS permits merchants to evaluate the billing address provided by the customer with the billing address on file for that credit card. AVS plays a major role as the first-line guard for all hoax recognition tools.

Online and mail order or telephone order merchants are most likely to incur fraudulent activity in their businesses. This is because deceptive elements can more easily make faster purchases, sometimes over multiple locations in rapid succession, in the above cases. The repercussions of this can extend to excessive chargebacks, being charged higher transaction fees, having funds held in reserve, or even facing termination of payment processing services. All this can be effectively prevented by a good fraud protection program.

Effective fraud management services lowers the true cost of sales, identifying counterfeit dealings that might otherwise go unnoticed while acting as sentinel in opposition to calamitous rip offs. Choose a risk assessor that has a proven track record of detecting and preventing fraudulent activity while approving, on average, a high percentage of online purchases. This helps increase consumer confidence when making online purchases.

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Merchant Accounts- Debit Card Processing

2007-04-02T01:56:00.000-07:00

More and more consumers prefer using Debit cards and it is the merchant who benefits. That’s because in Debit card processing, the funds are directly debited and recorded at time of purchase. An added advantage is that a card can easily double up as a VISA or MasterCard along with being a debit card. Also, debit card processing saves the merchant more money in the long run.

The debit card is very widely used and is much easier than writing out a cheque. As long as there is money in the bank account, a debit card can be effectively used. Only the pin number is to be memorized. Card issuers may or may not charge fees for debit card usage. The same must be verified to avoid confusion.

Here are the benefits of a standard debit card program as employed by a merchant.

•Sale proceeds are deposited into the merchants account within 48 hours of the transaction taking place.
•Transactions are easy and fast.
•Debit card transactions appear on a consolidated merchant processing statement and online transaction reports.
•24/7 customer support.
•A transaction fee is debited at the end of the month or as each transaction is processed.

A merchant must ensure that while accepting debit cards, a verification service is included. A verification service checks the negative database of bad check writers too prevent fraud.

To process debit cards, a merchant must have a PIN Pad. The swipe terminals available in the market today do come with in-built PIN pads or an external one may be purchased. If you're an Internet merchant you will still incur the same charges for debit card processing as you do with credit card processing. True debit cards like Star, MAC, Honer, NYCE, Pulse, Interlink, and Maestro will only incur a per transaction fee because the customer must input their PIN number in order to use the card. The typical per transaction and discount rate will be charged to those using debit cards with Visa or MasterCard logos on them.

Debit cards are one of the fastest-growing payment types at the point of sale. Choose a debit card program that will place you in an ideal position to profit from all the strengths of on-line debit processing. Make it work for our business!

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Gift Cards Program

2007-03-29T03:09:00.000-07:00

Gift cards are an effective merchandising medium that increases sales, draws in new customers to expand client base, retains existing customers, leading to business growth and success. Gift cards have taken the payment industry by storm. It’s in the best interest of every business to harness the power of this plastic revolution through a versatile gift card program. It's customizable, affordable, and essential!

Gift cards offer convenience and flexibility. They take the place of bulky and time-consuming paper gift certificates, and offer recipients of gift cards the flexibility to purchase whatever they desire. Moreover, gift cards eliminate returns. They have today become a competitive necessity.

Adopting a gift cards program is an important modern-day marketing initiative. Get the right solutions for your business to achieve benefits such as: -

1. Increased store revenue
2. Decrease in administrative costs.
3. Fast and accurate transactions.
4. Reduced fraud
5. Increased store awareness, and
6. New customer acquisition and business expansion.

Today, gift cards have expanded beyond the retail market to many non-traditional markets because the benefits are universal. Merchants love gift cards because:-

1. Consumers spend almost twice the face value of a gift card.
2. Gift card recipients tend to purchase more regular priced, high-margin items
3. Gift cards become an impulse purchase item.
4. Gift cards tend to decrease returns.
5. Gift and promotional cards can increase sales.
6. Gift cards generate funds.
7. Approximately one-tenth of gift card sales go unredeemed.

Thus, Gift card programs work. Gift cards benefit both the customer and the merchant. It's a win-win situation!

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Credit Card Processing Software

2007-03-28T04:00:00.000-07:00

Merchants in virtually every industry have to carry out credit, debit, cheques and gift card transactions using web-based applications that are quick, accurate and secure! Credit card processing software is a cost-effective solution that works for every business, be it a retail brick-and-mortar store, a mail-order/telephone order business, or an ecommerce business.

There are several benefits of using a web application for processing credit cards. First and foremost, you don't need to purchase any additional hardware. In addition, using credit card processing software helps reduce fraud losses, saves you time and money, and provides powerful features and performance, including detailed transaction records and reports. Furthermore, these softwares are upgradeable and do not become obsolete like credit card terminals do.

While choosing your credit card processing software, you need to look for their technology, ease of use, and versatile features. Free lifetime technical support is an added feature. Choose a software that can handle all forms of transactions from simple credit cards to recurring billing charges and even ACH check transactions, easily and securely straight from your computer. Additional features such as file import and user permissions will only add value to your services.

Your credit card processing software must have the ability to process all credit cards. With features such as file import and export, recurring billing, customer database, user permissions, there is no way you can go wrong! It is always good idea to get your software from a company that is an established name, and an hallmark for quality. Installation should be easy, with a built-in tester and detailed instructions on how to run practice verifications to ensure proper operation.

To summarize, following are the features that credit card processing software must possess: -

1. Supports all major credit card types (e.g. VISA, MasterCard, American Express, Discover, JCB)
2. Supports Check Approval processing services
3. Supports ATM Debit Cards and Signature Capture Devices
4. Supports Gift Cards
5. Supports payment processing via dial-up or Internet/IP
6. Extremely fast processing times (2 seconds on an open line)
7. Simplified configuration
8. World Class "real time" technical support
9. Ongoing revenue sharing of transaction fees for qualified resellers

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Comparison of Merchant Accounts

2007-03-27T03:44:00.000-07:00

When you finally decide to get a merchant account for your business, your job would be to find the best package for your particular business endeavor. There are abundant merchant account providers in the e-commerce marketplace varying for your attention with better deals and offers. You would then have to compare these offers. While doing your comparison, here’s what you need to keep in mind.

Compare Merchant Accounts for lenders. While searching for a reputable lender, you need to look into factors such as how long the company has been in business, who manages it, other services that are provided, and the company’s standing in the business community. You may check for recent press releases or company news. Browse all available industry publications to locate the best lenders in the business. The lender that you ultimately choose should not only have a good background as far as services are concerned but also have a reputation for integrity, honesty, and professionalism as well as capability.

Compare the service standards of different Merchant Accounts. To choose a merchant account that best facilitates credit card transactions for your business, you need to first understand and verify which credit card payment method would best suit your line of work. For instance, will the customer swipe his credit card at the location of your business; will you use a wireless unit on the road for point-of-sale transactions at residential or business locations? You may also want to carry out sales through a website. Considering your choice of transaction, you may verify whether your lender supports it or not. Then look into possible fees for maintenance and service agreements.

Compare costs of different Merchant Accounts. You may be asked to pay fee in the form of application fees, an annual membership rate, print statement fees, gateway costs, and other expenses. In addition, there are the charges for the actual services provided calculated on the basis of every transaction or a certain percentage of the sales volume per month. To be sure that you’re not over paying, read the fin print, ask all relevant questions and do not sign the contract before checking it for any loopholes.

Compare customer service of different merchant accounts. How ready is the company staff with their answers to the queries you pose? Are they knowledgeable enough? Are the company personnel easily accessible? Is the company prompt with their assistance to help you with concerns? How much time does the company take to reinstate services in case of technical or other glitches? If you receive satisfactory responses to the above questions, only then go ahead with the particular merchant account.

Comparing the merchant accounts in the manner delineated above, you may finally find a merchant account that takes you from on pillar of success to the other!

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Retail POS Credit Card Terminal Machines

2007-03-23T04:15:00.000-07:00

When it comes to your retail business, you can get the best credit card terminals available in the market today. Whether you have a small business, restaurant, trade shows or any other line of business, a Point-of-sale credit card terminal can be of great help.

This is how a POS terminal works. The card is swiped on the pos terminal, which is connected to the processors' computer. This verifies the transaction. The data including card number, date, card number and amount, is verified. Then the processor chooses between Visa and MasterCard. You get the authentication in a matter of seconds. The information is then logged in the processors' computer and then transmitted back to the terminal. A receipt is printed and given to the customer. Then reports are generated and sent to the merchant. The processor categorizes that information and the capital generated is electronically deposited in the merchant account.

Choose your POS terminal on the basis of features such as performance, reliability and advanced upgrading capabilities. Following are the attributes that your POS terminal must possess: -

1. Customizable Tip Parameters (restaurants)
2. Detailed Reporting & Receipt Customization
3. Fraud Control Features
4. Supports External Pin-Pad
5. Built-in Pin-Pad
6. Must support Standard Check Guarantee (NO Extra Reader Required)
7. Must support Check Guarantee & Conversion (external reader required)
8. Must support Multiple Merchant Accounts (2+ doctors in same office)
9. Less than 1% failure rate (industry standard 3-5%)
10. Drop-in Paper Loading
11. Supports 3rd party applications (check processing, gift cards, etc.)
12. Built-in Smart Card Reader
13. Must have a Check Reader

While purchasing your POS terminal, you may list the above features to get a terminal that is worth every penny you spend. A POS terminal with the above features will hold you in good stead for a long time to come!

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Equipment for wireless merchant accounts

2007-03-22T04:04:00.000-07:00

Wireless Processing Equipment is the most rapidly-growing credit card processing solution. Wireless merchant accounts can increase your business by allowing you to accept credit cards while on the road.

Mobile merchants across the United States are taking advantage of low cost wireless merchant accounts, and the latest affordable wireless credit card machines. Today, you can get Wireless Merchant Processing at the lowest possible rates. For excellent service you need equipment with GPRS and CDMA technology and almost unlimited coverage throughout the United States. There should be no issues whatsoever with getting coverage inside buildings and in more remote areas.

Wireless terminals now available in the market have more functions, more memory; more capabilities than ever before, letting you expand your electronic payment systems beyond your expectations. Now you can accept credit cards, debit cards with PIN based transactions, gift and loyalty cards, smartcards, and check verification all on one terminal.

Wireless compatible merchant accounts are the perfect solution for mobile merchants and businesses selling where there's no electricity or telephone line! Now you can accept the customers’ payment at their location without paying higher rates. You can take payments while on the road, and soon your customers will be calling you. This gives you better retention of your current clientele. Furthermore, minimize the time it takes to handle transactions and do your books.

It’s surprising how the technology for wireless merchant accounts has matured. Get the latest, most efficient payment processing equipment available today. The right credit card equipment leaves you free to focus on the core activities of your business. Accept credit card payments with no strings attached. Be on the cutting edge of your business with a wireless merchant account.

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Home based Merchant Accounts

2007-03-20T03:17:00.000-07:00

Whether you operate form home, a store front, or the internet, if you do not offer your customers the convenience of paying with plastic, you will be overtaken sooner or later by a competitor who does.

Thus, even if you operate from home, a Home based merchant account will serve you well. This is because consumers today have become accustomed to the convenience of credit cards. The good news is that your home based business is not likely to suffer at all because technical advances make it possible for the smallest home-based businesses to accept major credit card payments.

Recently, the requirement for home based business merchant accounts has increased dramatically. Subsequently, to fulfill this demand, a handful of the top credit card Merchant Account providers have emerged. E-commerce security measures have made the transition possible. Otherwise, earlier the customers were too wary of revealing their credit card information online. In fact, today the smallest of home businesses can take full advantage of credit card purchase options.

Home based business merchant accounts can be quite complex and you may have to search carefully. Like any other merchant account, a home based merchant account is set up by a bank or a financial organization to allow your business to accept credit card payments for goods and/or services. Since every home business is different from the other, each must consider the following factors independently: -

1. How will you sell your products or services?
2. How will you interface with a Credit Card Processor?
3. What merchant account provider will you use?

Majority of home businesses sell through mail order or online. Home business owners will also need to determine what Internet gateway system is best for their home based business merchant account. Home business owners must also determine which type of merchant account provider is best. You may open an account with a bank or through an Independent Sales Organization (ISO).

Investigate thoroughly before making any decisions. A merchant account may prove too expensive for your home based business if you are just starting out. Several other options are available today. Do your homework well and you’re sure to succeed!

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The Benefits of an Online Payment gateway.

2007-03-19T03:12:00.000-07:00

A payment gateway is integral to any online business payment system. A payment gateway allows for the completion of online transactions quickly and securely. It’s absolutely hassle-free for both the merchant as well as the customer. With the help of a payment gateway, credit cards can be processed real time and the customers too can immediately find out whether or not their credit card has been approved.

This is how a payment gateway functions. It seizes the credit card transaction, encrypts the information, directs it to the credit card processor and then returns either an approval or a decline notice. This is a faultless process with no direct interaction of your customer with the payment gateway. The entire transaction takes place via a secure connection and a shopping cart, through which, customers pick and choose the various items they want to purchase from your website.

An online payment gateway plays a role in authorizing, settling and reporting. The payment gateway confirms whether or not the credit card is acceptable. The gateway provides a protected link between the merchant, the customer and your credit card processor. Eventually the transaction processing becomes fast and efficient, with an average response time of 2 seconds. All transactions that take place within a day are finally sent to the bank at the end of the day. This process known as “settling” is when you get your payments. After fund settling, the money is deposited in your account in approximately two business days. All through these transactions, records are made which can be later viewed by the merchant. This is made possible by “reporting”.

Another benefit of a payment gateway is that at any one point in time, multiple users can use the same payment gateway. In addition, you will also receive a fraud screening tool for address verification and card code value (CVV) verification. This ensures that all purchases made at your website are legitimate orders. It also prevents fraud and reduces liability.

Other benefits include a virtual terminal that payment gateways provide to manually process transactions received through a medium other than your website, such as the orders you may take over the phone or through the mail. A SSL checkout page is an added advantage. 24 hour email support and toll free technical support allows you to reach out in case of any immediate query or concern.

While selecting a payment gateway, choose an option that offers you an uptime of about 99.9 percent and an able support team that can get the servers back online 24 hours a day, 7 days a week. Ease of use and Scalability are also key factors. Features, such as QuickBooks integration, recurring billing, and transaction upload and download, and more, are welcome additions.

There are several Payment gateways for you to choose from. Pick one that has all of the desired features that you should look for in a payment gateway. A payment gateway is sure to simplify your business life!

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Desirable Features in a Credit Card Processing Service

2007-03-16T03:49:00.000-07:00

A credit card processing service enables you to accept credit cards as a form of payment, from anywhere at anytime. With an adept credit card processing service, a merchant can accept all forms of payments, accept payments anyplace and get fraud and security protection. You should be able to accept and verify payments from all major credit cards, debit cards, electronic checks and traditional checks. A valuable credit card processing service will also offer security protection with modern encryption technology to protect against the fraudulent use of credit cards.

With the wide variety of choices available today, choosing your credit card processor may get confusing. To help you make an informed decision in selecting a credit card service, here is a list of criteria that a credit card processing service must fulfill.

Start-up Cost- A good merchant account service or credit card processing service will either charge a minimum start-up amount or will do away with the expense. Any processor, who charges more right at the beginning, is just trying to hoard money for services that are not up-to-the-mark.

Account setup time- Any credit card processing service that takes a long time to approve your application or to initiate services, is not worth the trouble. Any aggressive credit card service will provide hands-on service by expediating the application acceptance process. You can have an account set-up as fast as within one day and start accepting credit card payments just as soon.

Cost per Month- Any competitive credit card processing company will charge low monthly fees, in order to help keep overhead costs down. A low monthly fee with clear communication about ongoing fees and costs is desirable. Also, charge back fee, gateway fee, and any other charges involved must be clearly outlined. There should be no hidden costs aimed at deceiving the merchant.

Average Approval Rate- A good credit card processing service will have a good to average approval rate. An approval rate is calculated by the percentage of approved applicants and the processing speed and the fee to apply. The approval rate must be high with good speed and no or minimum fees.

Customer Service- A good credit card processing service will have efficient customer service in place that is available 24 hours, seven days a week. A potential or existing customer should be able to contact customer care either through phone, e-mail or instant messages. Th response should be quick with instant solutions and answers to customer queries.

Additional Features- A good credit card processing service will always offer additional features such as more than one type of virtual terminal as well as an online merchant account and payment gateway. In addition, a variety of point of sale options and credit card readers should be available through the service.

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The Five Steps of Online Credit Card Processing

2007-03-16T03:43:00.000-07:00

Following is an overview of the steps involved in processing an online transaction, and an introduction on how credit card transactions are processed, and how to ensure that your online transactions are secure. Online Credit card processing involves five participants in all--the merchant, merchant bank, consumer, cardholder issuing bank and acquiring processor. A merchant bank sets up a merchant account for a merchant, using which the merchant sells his services or products to consumers. The purchase is made using a credit card as provided by the credit card issuer. As soon as a purchase is made and the credit card information is typed in, the data gets encrypted and is sent to the acquiring processor.

If you own an internet-based business, credit card processing is a necessity for you. It is profitable and is now-a-days implemented by all who want to survive in the marketplace. Credit card transactions are now fast, convenient, and secure. Thus, 90% of online transactions worldwide take advantage of credit card payment services. Most of us never know what happens behind the scenes after a credit card is swiped or credit card information is entered. Now is the time to find out. Here are the five steps that delineate how credit card processing works online.

1. A consumer punches credit card details in order to complete the purchase of your product or service.

2. This information is then transferred to the merchant web server and a payment gateway through a secure socket layer (SSL). The SSL encrypts the credit card data in order to pass it down the wire and to protect it from computer hackers.

3. Once the transaction data reaches the payment gateway, their software verifies all of the credit card particulars and then accepts or declines the credit card.

4. The payment gateway sends an email receipt to the merchant web server and to the customer.

5. Along with the email receipt, the payment gateway sends the order to the merchant bank. The money is subtracted from the purchaser's credit card account and placed in a 30-day holding merchant account owned by your business.

This concludes the introductory steps of processing credit card transactions over the internet. Hope it will be of use to you, in all your online credit card merchant needs!

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Deferred and Real-Time Credit Card Transactions

2007-03-14T02:41:00.000-07:00

The knowledge of online shoppers about Credit Card Transactions is limited to clicking on the 'Purchase' button on an order form. However, the real processing starts after that. There are several transactions solutions that differ in price, security features, level of automation, and many other factors.

Processing can be deferred or real-time. In deferred processing, as the name suggests, there is a certain delay in processing as the order is first forwarded to the merchant who conducts the transaction. In real-time processing, the customer gets instant results as the credit card is immediately authorized. Both methods have rewards and shortcomings.

Deferred processing works well for businesses that cannot deliver their goods over the Internet. Also, there is the added advantage of manually inspecting the products before shipping them out. Deferred processing is especially advantageous in case the credit card issuer’s network is down. The merchant can then call the credit card center to authorize the processing later. This is not possible in real-time processing, in which such transactions are reported to the customer as declined. Not only is a sale lost, but this also affects the customer satisfaction level.

Also, deferred processing is cheaper in comparison to real-time processing. All that is required is a credit card processing software, which can be used for both Internet and phone orders. There are no additional processing costs. The only drawback is that deferred processing requires daily attention as the orders are to be downloaded and processed everyday. You do need to exercise a great deal of caution in case you’re using deferred processing. The orders stored on the server must be securely encrypted. For instance, if you receive the customer details via e-mail, anyone who has access to your server password can steal the credit card details and use them for fraud.

In real-time processing, the results are there in an instant for the customer to see. The fact that you can fill out the order in minutes is a strong selling point. The faster you fill out orders, the more sales you’re bound to make. However, this feature is practically useless if you have to ship your product through the regular mail. Customers too are more comfortable with this method and are reassured as their card is approved then and there. Thus, any mistakes made can be corrected immediately. Beware! Immediate results are also going to attract as many hackers. Thus, real-time processing may have a higher percentage of fraudulent transactions.

Real time processing can be carried out in two ways. You may use processing providers who specialize in Internet transactions. However, their services are expensive. The other solution is to install your own credit card processing software on your server. This method requires a modem on your server and a dedicated phone line.

While using real time processing, ensure that the log of transactions does not get saved on the server, which may be a target for hackers.

Study both options as listed above and chose the one that best suits your business.

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