Merchant Credit Card Terminals
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards. [http://www.e-CreditCardTerminals.com]Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with [http://www.i-CreditCardProcessing.com]Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
Tuesday, August 7, 2007
Tuesday, July 31, 2007
Merchant Account Services
Merchant Credit Card Account Applications
By Shane Penrod
Since a personal credit card provides us with the means to make
life easier and more enjoyable, can you imagine what a merchant
credit card account can do for your business? This type of
account is more than just a line of credit. It is an entire
service package that offers support to help your company
flourish and grow. Of course, as with any other type of credit
account, it is important to use it responsibly. The first step
toward obtaining this type of financial and technical support is
to submit an application.
Finding a merchant credit card account company is not hard at
all. You just have to check with bankers in your area to see if
they provide this service and are willing to work with you.
Barring that route, you can do an online Internet search to find
merchant account providers who are accepting new clients. There
are plenty of banks and professional lenders who are looking for
entrepreneurs to work with. They often will take a chance on new
business owners if they think you have the potential to become a
trusted client. But first you will need to pass muster by
demonstrating your company’s capabilities in a few distinct
areas. One is that you have a solid credit history and are not
in bankruptcy. A copy of your company’s credit history should be
adequate proof for this requirement. A second criterion is that
your business has enough income to meet the new expenses of a
merchant account. Bank statements or an annual report should
help with this concern. Another thing the lender will want to
know is the type of business you are doing. If you traffic in
pornography, are engaged in telemarketing, or have left a trail
linking your company to some unsavory dealings, the underwriter
may decline your application. Conditions can vary; so ask about
the eligibility requirements before applying.
The next step toward applying for a merchant credit card
account is to submit the application. Some lenders provide an
online form that you can submit electronically, although you may
be charged a fee for this privilege. Other loan agents will let
you download a print application that you can complete in ink
and mail by U.S. post. Either way, you will probably receive a
response to your application within a few days by e-mail or in a
letter. If your application is accepted, you can immediately
begin to use your credit line and service package to set up a
credit card processing system. Working with an account
associate, you can arrange to install a credit card processor at
your store’s checkout area. Or you can buy a wireless model for
several hundred dollars and take it with you on the road when
you service computers or appliances, or make deliveries to homes
or businesses. Discuss the applications of your new merchant
account with the loan officer to clarify limits and equipment
options for your company’s use.
You won’t be able to enjoy the use of merchant services until
you apply for them, so ask your preferred lender about the
application process for a merchant credit card account.
About the Author: Shane Penrod is the founder of
http://www.merchant-account-quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on merchant
account rates and fees, please go to
http://www.merchant-account-quotes.com.
Source: http://www.isnare.com
By Shane Penrod
Since a personal credit card provides us with the means to make
life easier and more enjoyable, can you imagine what a merchant
credit card account can do for your business? This type of
account is more than just a line of credit. It is an entire
service package that offers support to help your company
flourish and grow. Of course, as with any other type of credit
account, it is important to use it responsibly. The first step
toward obtaining this type of financial and technical support is
to submit an application.
Finding a merchant credit card account company is not hard at
all. You just have to check with bankers in your area to see if
they provide this service and are willing to work with you.
Barring that route, you can do an online Internet search to find
merchant account providers who are accepting new clients. There
are plenty of banks and professional lenders who are looking for
entrepreneurs to work with. They often will take a chance on new
business owners if they think you have the potential to become a
trusted client. But first you will need to pass muster by
demonstrating your company’s capabilities in a few distinct
areas. One is that you have a solid credit history and are not
in bankruptcy. A copy of your company’s credit history should be
adequate proof for this requirement. A second criterion is that
your business has enough income to meet the new expenses of a
merchant account. Bank statements or an annual report should
help with this concern. Another thing the lender will want to
know is the type of business you are doing. If you traffic in
pornography, are engaged in telemarketing, or have left a trail
linking your company to some unsavory dealings, the underwriter
may decline your application. Conditions can vary; so ask about
the eligibility requirements before applying.
The next step toward applying for a merchant credit card
account is to submit the application. Some lenders provide an
online form that you can submit electronically, although you may
be charged a fee for this privilege. Other loan agents will let
you download a print application that you can complete in ink
and mail by U.S. post. Either way, you will probably receive a
response to your application within a few days by e-mail or in a
letter. If your application is accepted, you can immediately
begin to use your credit line and service package to set up a
credit card processing system. Working with an account
associate, you can arrange to install a credit card processor at
your store’s checkout area. Or you can buy a wireless model for
several hundred dollars and take it with you on the road when
you service computers or appliances, or make deliveries to homes
or businesses. Discuss the applications of your new merchant
account with the loan officer to clarify limits and equipment
options for your company’s use.
You won’t be able to enjoy the use of merchant services until
you apply for them, so ask your preferred lender about the
application process for a merchant credit card account.
About the Author: Shane Penrod is the founder of
http://www.merchant-account-quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on merchant
account rates and fees, please go to
http://www.merchant-account-quotes.com.
Source: http://www.isnare.com
Friday, July 27, 2007
Merchant Account Services
Internet Merchant Accounts
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton
An Internet merchant account can help you use and accept all modes of payment, such as credit, debit, and EBT. Today, many people use credit cards and electronic checks to pay for goods. People use them everywhere, especially online. In other words, to conduct a transaction on the World Wide Web, one does need to have a credit card or a bank account.
If you are a business proprietor then you cannot operate on the Internet unless you accept these forms of payment. You need to set up a certain infrastructure to be able to accept these various forms of payments, which is where an Internet merchant account comes into play.
Processing all forms of payment is good for business since it increases a merchant's consumer base. An Internet merchant account not only allows the business owner to accept major credit cards and personal checks, but also allows them to process the payments in a risk-free, secure way. In an electronic environment, the customer can key in his or her personal and financial information via the secure network and the web pages would direct him or her through the entire sales process. The customer knows that that all the information is secure and the merchant knows that the funds will be placed in the business account shortly.
The business owner can purchase various types of “Buy it” buttons from the merchant account gateway. Once the customer clicks on the button to purchase an item, the customer is automatically shifted to the section for payment methods. Such an account can also computes taxes for each item sold as per the requirement for domestic and foreign rates for United States Mail, FedEx, and UPS.
Payment methods, tax calculations, and shipping preferences are few of the steps in the purchasing transaction that are handled automatically and quickly. By assisting the consumer and making the payment environment easy and safe to use, the merchant has provided exceptional customer service. [http://www.e-highriskmerchantaccounts.com]High Risk Merchant Accounts provides detailed information about high risk merchant accounts, high risk offshore merchant accounts and more. High Risk Merchant Accounts is affiliated with [http://www.i-backgroundchecks.com]Background Checks.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Internet-Merchant-Accounts&id=131762
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton
An Internet merchant account can help you use and accept all modes of payment, such as credit, debit, and EBT. Today, many people use credit cards and electronic checks to pay for goods. People use them everywhere, especially online. In other words, to conduct a transaction on the World Wide Web, one does need to have a credit card or a bank account.
If you are a business proprietor then you cannot operate on the Internet unless you accept these forms of payment. You need to set up a certain infrastructure to be able to accept these various forms of payments, which is where an Internet merchant account comes into play.
Processing all forms of payment is good for business since it increases a merchant's consumer base. An Internet merchant account not only allows the business owner to accept major credit cards and personal checks, but also allows them to process the payments in a risk-free, secure way. In an electronic environment, the customer can key in his or her personal and financial information via the secure network and the web pages would direct him or her through the entire sales process. The customer knows that that all the information is secure and the merchant knows that the funds will be placed in the business account shortly.
The business owner can purchase various types of “Buy it” buttons from the merchant account gateway. Once the customer clicks on the button to purchase an item, the customer is automatically shifted to the section for payment methods. Such an account can also computes taxes for each item sold as per the requirement for domestic and foreign rates for United States Mail, FedEx, and UPS.
Payment methods, tax calculations, and shipping preferences are few of the steps in the purchasing transaction that are handled automatically and quickly. By assisting the consumer and making the payment environment easy and safe to use, the merchant has provided exceptional customer service. [http://www.e-highriskmerchantaccounts.com]High Risk Merchant Accounts provides detailed information about high risk merchant accounts, high risk offshore merchant accounts and more. High Risk Merchant Accounts is affiliated with [http://www.i-backgroundchecks.com]Background Checks.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Internet-Merchant-Accounts&id=131762
Tuesday, July 24, 2007
Merchant Account Services
Merchant Account - Credit Card Processing for Your Business
By [http://ezinearticles.com/?expert=Jimmy_Wilson]Jimmy Wilson
Merchant Accounts allow you to conduct business online or offline with confidence to both you and your customers. Your merchant account is designed to make your business transactions a smooth exchange of goods and/or services for a payment method of credit cards, debit cards, online payment centers, faxes, or over the phone transactions.
Credit Card Processing can be much easier to set up for your online business, unless you choose to go through conventional means as you would for a brick and mortar business. If you need actual credit card processing terminals for the card swipe method, you can apply for that card processing separately.
A Merchant Account allows you the freedom of accepting credit card purchases and you don't have to wonder if the customer's account is in good standing, before you make the transaction. This is a must have in today's economy. More and more online customers are choosing to bank and purchase online, so in order to be conduct your business successfully, a merchant account is essential.
A merchant account provider gives you everything you need to get started accepting credit cards... with a payment gateway, usually with set-up fees and percentage rates per transaction charges. You need to check around for the best merchant account providers and see what they charge for set-up and processing your credit card transactions.
As you expand your merchant account, you may see a need for a credit card terminal, phone order processing, and/or a wireless credit card processor. This should also be a consideration for anticipated expansion to your business when shopping initially for a merchant account provider.
A Discount Merchant Account Provider is where you will find your best deals. With any business just starting out, the merchant account provider should grow with your business and when the time is right for your business to expand, you can rest assured your initial merchant account provider can make the necessary changes with you.
A good way to know a merchant account provider is reputable, check with the Better Business Bureau Online for feedback about the merchant account provider's scoring and if they have a high or low record of complaints. Obviously, all merchant account holders have had some bad dealings with dissatisfied customers, but the percentage rate will reflect whether they have too many to consider normal or average. Other questions you should ask:
_______________________________________________________
- What kind of merchant businesses do you accept?
- What if I have less than perfect credit?
- What credit cards will my merchant account be able to accept?
- Do I need a business license?
- What is the merchant discount rate?
- What is the Address Verification System?
- Will I receive a merchant account statement?
- How will I receive my money?
- How do I apply for a merchant account?
- How long does the approval process take?
- Is there a service phone number that I can call if I need help?
_______________________________________________________
For more information about opening a merchant account http://wealthsmith.com/merchant-account-credit-card-processing.htm
Jim has found a total package merchant account set-up ideal for entrepreneurs wanting to get started with a great opportunity. http://wealthsmith.com/merchant-account-credit-card-processing.htm
Article Source: http://EzineArticles.com/?expert=Jimmy_Wilson http://EzineArticles.com/?Merchant-Account---Credit-Card-Processing-for-Your-Business&id=388597
By [http://ezinearticles.com/?expert=Jimmy_Wilson]Jimmy Wilson
Merchant Accounts allow you to conduct business online or offline with confidence to both you and your customers. Your merchant account is designed to make your business transactions a smooth exchange of goods and/or services for a payment method of credit cards, debit cards, online payment centers, faxes, or over the phone transactions.
Credit Card Processing can be much easier to set up for your online business, unless you choose to go through conventional means as you would for a brick and mortar business. If you need actual credit card processing terminals for the card swipe method, you can apply for that card processing separately.
A Merchant Account allows you the freedom of accepting credit card purchases and you don't have to wonder if the customer's account is in good standing, before you make the transaction. This is a must have in today's economy. More and more online customers are choosing to bank and purchase online, so in order to be conduct your business successfully, a merchant account is essential.
A merchant account provider gives you everything you need to get started accepting credit cards... with a payment gateway, usually with set-up fees and percentage rates per transaction charges. You need to check around for the best merchant account providers and see what they charge for set-up and processing your credit card transactions.
As you expand your merchant account, you may see a need for a credit card terminal, phone order processing, and/or a wireless credit card processor. This should also be a consideration for anticipated expansion to your business when shopping initially for a merchant account provider.
A Discount Merchant Account Provider is where you will find your best deals. With any business just starting out, the merchant account provider should grow with your business and when the time is right for your business to expand, you can rest assured your initial merchant account provider can make the necessary changes with you.
A good way to know a merchant account provider is reputable, check with the Better Business Bureau Online for feedback about the merchant account provider's scoring and if they have a high or low record of complaints. Obviously, all merchant account holders have had some bad dealings with dissatisfied customers, but the percentage rate will reflect whether they have too many to consider normal or average. Other questions you should ask:
_______________________________________________________
- What kind of merchant businesses do you accept?
- What if I have less than perfect credit?
- What credit cards will my merchant account be able to accept?
- Do I need a business license?
- What is the merchant discount rate?
- What is the Address Verification System?
- Will I receive a merchant account statement?
- How will I receive my money?
- How do I apply for a merchant account?
- How long does the approval process take?
- Is there a service phone number that I can call if I need help?
_______________________________________________________
For more information about opening a merchant account http://wealthsmith.com/merchant-account-credit-card-processing.htm
Jim has found a total package merchant account set-up ideal for entrepreneurs wanting to get started with a great opportunity. http://wealthsmith.com/merchant-account-credit-card-processing.htm
Article Source: http://EzineArticles.com/?expert=Jimmy_Wilson http://EzineArticles.com/?Merchant-Account---Credit-Card-Processing-for-Your-Business&id=388597
Monday, July 23, 2007
Merchant Accounts Services
Merchant Account Fees: Are They Worth It?
By Debbie Dragon
Merchant account services are the services that allow you to
accept credit cards as payments, both online and off, and help
you handle the credit card transaction processing. Without
merchant accounts, your customers would have to pay with cash or
check- and believe it or not, most customers will spend more if
they can swipe their card and worry about the bill later.
The Cost of Accepting Credit Cards
Merchant accounts can be costly. There are numerous providers
of merchant accounts that are reputable and offer good value for
their service- but there are even more providers of merchant
accounts that charge excessive fees and have hidden expenses
that you were not aware of when agreeing to use their service to
accept credit cards online.
Fees range from per transaction fees (usually a percentage or a
few cents on each card processed) to monthly or annual
maintenance fees that can range from a few dollars to a few
hundred dollars.
Online Businesses Need Merchant Accounts
Online merchant accounts are crucial to having a successful
online business venture. Consider it from the eyes of a
customer: if you were on a website, looking to buy a widget,
would you want to take the time to mail a check or money order,
or do you plan on making a purchase right then with your debit
or credit card? Most people don’t want to take the time to
write and mail a check or money order for an online purchase-
not having the ability to accept credit or debit cards will
severely hurt your business as an online merchant.
As the merchant, credit and debit cards make your life easier,
as well. You get your money much faster than waiting for a
customer to write and mail a check or money order; and you don’t
have to wait for the payment to clear the bank before you can
mail out their purchase. Credit card payments offer you payment
within a day or two of the customer putting in the card details.
Deciding if a Merchant Account is Worth the Fees
So are the fees that are paid for merchant accounts worth the
value the accounts provide your business? It all depends on the
type of business you are operating and the volume of sales you
process on a given month, as well as the merchant account
provider you choose to go with. Merchant account providers are
not a one-size-fits-all solution for every business, and you
really need to do a little research before selecting a provider.
Consider the per transaction fee, the application fee, monthly
maintenance fee, set up fee, and any annual membership charges
you must pay. Do you have to purchase or lease any special
equipment? Is the software for processing online credit card
payments included in the service, or is that an additional fee?
Once you have that information for a few different merchant
account providers, you can determine what you believe your
credit card sales will be each month. This may be difficult to
do, but make your best estimate based on your current level of
sales and the idea that people typically spend more with a
credit card than they do with cash.
Determine what fees you’ll pay on your estimated amount of
sales each month, and see if it makes sense to pay for a
merchant account. As mentioned previously, if your plan is to
operate an online business- you really need a way to accept
credit card payments online in order to become successful.
About the Author: This article has been provided courtesy of
Creditor Web, http://www.creditorweb.com .
Source: http://www.isnare.com
By Debbie Dragon
Merchant account services are the services that allow you to
accept credit cards as payments, both online and off, and help
you handle the credit card transaction processing. Without
merchant accounts, your customers would have to pay with cash or
check- and believe it or not, most customers will spend more if
they can swipe their card and worry about the bill later.
The Cost of Accepting Credit Cards
Merchant accounts can be costly. There are numerous providers
of merchant accounts that are reputable and offer good value for
their service- but there are even more providers of merchant
accounts that charge excessive fees and have hidden expenses
that you were not aware of when agreeing to use their service to
accept credit cards online.
Fees range from per transaction fees (usually a percentage or a
few cents on each card processed) to monthly or annual
maintenance fees that can range from a few dollars to a few
hundred dollars.
Online Businesses Need Merchant Accounts
Online merchant accounts are crucial to having a successful
online business venture. Consider it from the eyes of a
customer: if you were on a website, looking to buy a widget,
would you want to take the time to mail a check or money order,
or do you plan on making a purchase right then with your debit
or credit card? Most people don’t want to take the time to
write and mail a check or money order for an online purchase-
not having the ability to accept credit or debit cards will
severely hurt your business as an online merchant.
As the merchant, credit and debit cards make your life easier,
as well. You get your money much faster than waiting for a
customer to write and mail a check or money order; and you don’t
have to wait for the payment to clear the bank before you can
mail out their purchase. Credit card payments offer you payment
within a day or two of the customer putting in the card details.
Deciding if a Merchant Account is Worth the Fees
So are the fees that are paid for merchant accounts worth the
value the accounts provide your business? It all depends on the
type of business you are operating and the volume of sales you
process on a given month, as well as the merchant account
provider you choose to go with. Merchant account providers are
not a one-size-fits-all solution for every business, and you
really need to do a little research before selecting a provider.
Consider the per transaction fee, the application fee, monthly
maintenance fee, set up fee, and any annual membership charges
you must pay. Do you have to purchase or lease any special
equipment? Is the software for processing online credit card
payments included in the service, or is that an additional fee?
Once you have that information for a few different merchant
account providers, you can determine what you believe your
credit card sales will be each month. This may be difficult to
do, but make your best estimate based on your current level of
sales and the idea that people typically spend more with a
credit card than they do with cash.
Determine what fees you’ll pay on your estimated amount of
sales each month, and see if it makes sense to pay for a
merchant account. As mentioned previously, if your plan is to
operate an online business- you really need a way to accept
credit card payments online in order to become successful.
About the Author: This article has been provided courtesy of
Creditor Web, http://www.creditorweb.com .
Source: http://www.isnare.com
Friday, July 20, 2007
Merchant Account Services
Internet Merchant Credit Card Accounts
By [http://ezinearticles.com/?expert=Seth_Miller]Seth Miller
Internet merchant credit card accounts are those accounts in which payments made through credit cards can be transferred to a specified account by customers making online purchases. These accounts are operated on behalf of the merchants by a third party.
A large number of Internet merchant account providers provide these services. Internet merchant accounts accept all kinds of online payments, including payments made via credit cards, or the electronic transfer of money from one merchant account to another. Internet merchant credit card accounts accept only credit card payments.
The requirements for such accounts emerged after online business started expanding. Over the last few years, online business has come of age. In an online transaction there is no human contact, so there is a need to have a mechanism where cash can change hands even when sellers and buyers sit thousands of miles apart. The nature of online transactions has made Internet merchant accounts a necessity for an online business.
An Internet merchant credit card account is easy to open and operate. The account provider also provides round-the-clock technical service. It also give you a unique user ID and password which ensures that only authorized persons have access to the account, in which online payments made through credit cards are transferred.
Always try to choose an Internet merchant credit card account provider who enjoys credibility in the market and provides speedy credit card sales processing facilities. It should be comfortable handling all the major brands of credit cards. And look at the costs associated with operating this kind of account. The costs could vary depending on which account provider you have hired and which "package" of services you have selected. Choose one which suits your business requirements without making a heavy dent on your profit. [http://www.e-InternetMerchantAccounts.com]Internet Merchant Accounts provides detailed information on Internet Merchant Accounts, Free Internet Merchant Accounts, Ecommerce Internet Merchant Accounts, Internet Merchant Credit Card Accounts and more. Internet Merchant Accounts is affiliated with [http://www.e-CommerceMerchantAccounts.com]International Ecommerce Merchant Accounts.
Article Source: http://EzineArticles.com/?expert=Seth_Miller http://EzineArticles.com/?Internet-Merchant-Credit-Card-Accounts&id=254697
By [http://ezinearticles.com/?expert=Seth_Miller]Seth Miller
Internet merchant credit card accounts are those accounts in which payments made through credit cards can be transferred to a specified account by customers making online purchases. These accounts are operated on behalf of the merchants by a third party.
A large number of Internet merchant account providers provide these services. Internet merchant accounts accept all kinds of online payments, including payments made via credit cards, or the electronic transfer of money from one merchant account to another. Internet merchant credit card accounts accept only credit card payments.
The requirements for such accounts emerged after online business started expanding. Over the last few years, online business has come of age. In an online transaction there is no human contact, so there is a need to have a mechanism where cash can change hands even when sellers and buyers sit thousands of miles apart. The nature of online transactions has made Internet merchant accounts a necessity for an online business.
An Internet merchant credit card account is easy to open and operate. The account provider also provides round-the-clock technical service. It also give you a unique user ID and password which ensures that only authorized persons have access to the account, in which online payments made through credit cards are transferred.
Always try to choose an Internet merchant credit card account provider who enjoys credibility in the market and provides speedy credit card sales processing facilities. It should be comfortable handling all the major brands of credit cards. And look at the costs associated with operating this kind of account. The costs could vary depending on which account provider you have hired and which "package" of services you have selected. Choose one which suits your business requirements without making a heavy dent on your profit. [http://www.e-InternetMerchantAccounts.com]Internet Merchant Accounts provides detailed information on Internet Merchant Accounts, Free Internet Merchant Accounts, Ecommerce Internet Merchant Accounts, Internet Merchant Credit Card Accounts and more. Internet Merchant Accounts is affiliated with [http://www.e-CommerceMerchantAccounts.com]International Ecommerce Merchant Accounts.
Article Source: http://EzineArticles.com/?expert=Seth_Miller http://EzineArticles.com/?Internet-Merchant-Credit-Card-Accounts&id=254697
Wednesday, July 18, 2007
Merchant Account Services
Merchant Credit Card Terminals
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards. [http://www.e-CreditCardTerminals.com]Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with [http://www.i-CreditCardProcessing.com]Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards. [http://www.e-CreditCardTerminals.com]Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with [http://www.i-CreditCardProcessing.com]Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
Monday, July 9, 2007
Merchant Account Services
Merchant Account Services
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole
Check out any store and you will find that people no longer find it viable to make payments in cash. The preferred mode of payment is the debit card or the credit card. No matter what your business, the best way to stay ahead is to give the customers the ease of making the payment in the mode they choose. This means if they don’t want to pay cash, you must have the provisions to accept credit card payments. In fact studies have shown that accepting credit payments can increase your sales manifold. To accept credit card payments, you will need an online merchant account with a bank, financial institution, or acquiring institutions. All these institutions charge a minimal amount of fees for their services, but then the fee is well worth the improvement in your business.
Your financial or acquiring institution should be able to provide a number of services. First and foremost they should be able to provide you personalized services in setting up your account. Your merchant account should have facilities for online trading, as also taking orders on the phone.
Now, suppose your business is an online store. This means, your customers can make orders merely by the click of a mouse. They can make their payments online through credit card. For this, there will be a form in which they will submit their details including that of their credit card. To accept online payment, you can link your account to any of the Internet gateway solution providers, which include Verisign, Orbital, or Fast Transact. You can link your order forms to these gateway companies, who will then process the transactions.
Then there is the phone line processing services. That means the customers can dial a toll free number, and provide the requisite information based on the voice prompts.
Another service is the POS (Credit card service), which enables you to take orders over the phone and fax and process them through a terminal machine.
You also have the option of a computer software program that can store your customer’s details, as these are beneficial for recurring payments. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.
Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Account-Services&id=144901
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole
Check out any store and you will find that people no longer find it viable to make payments in cash. The preferred mode of payment is the debit card or the credit card. No matter what your business, the best way to stay ahead is to give the customers the ease of making the payment in the mode they choose. This means if they don’t want to pay cash, you must have the provisions to accept credit card payments. In fact studies have shown that accepting credit payments can increase your sales manifold. To accept credit card payments, you will need an online merchant account with a bank, financial institution, or acquiring institutions. All these institutions charge a minimal amount of fees for their services, but then the fee is well worth the improvement in your business.
Your financial or acquiring institution should be able to provide a number of services. First and foremost they should be able to provide you personalized services in setting up your account. Your merchant account should have facilities for online trading, as also taking orders on the phone.
Now, suppose your business is an online store. This means, your customers can make orders merely by the click of a mouse. They can make their payments online through credit card. For this, there will be a form in which they will submit their details including that of their credit card. To accept online payment, you can link your account to any of the Internet gateway solution providers, which include Verisign, Orbital, or Fast Transact. You can link your order forms to these gateway companies, who will then process the transactions.
Then there is the phone line processing services. That means the customers can dial a toll free number, and provide the requisite information based on the voice prompts.
Another service is the POS (Credit card service), which enables you to take orders over the phone and fax and process them through a terminal machine.
You also have the option of a computer software program that can store your customer’s details, as these are beneficial for recurring payments. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.
Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Account-Services&id=144901
Friday, July 6, 2007
Merchant Account Services
Merchant Account Services
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole
Check out any store and you will find that people no longer find it viable to make payments in cash. The preferred mode of payment is the debit card or the credit card. No matter what your business, the best way to stay ahead is to give the customers the ease of making the payment in the mode they choose. This means if they don’t want to pay cash, you must have the provisions to accept credit card payments. In fact studies have shown that accepting credit payments can increase your sales manifold. To accept credit card payments, you will need an online merchant account with a bank, financial institution, or acquiring institutions. All these institutions charge a minimal amount of fees for their services, but then the fee is well worth the improvement in your business.
Your financial or acquiring institution should be able to provide a number of services. First and foremost they should be able to provide you personalized services in setting up your account. Your merchant account should have facilities for online trading, as also taking orders on the phone.
Now, suppose your business is an online store. This means, your customers can make orders merely by the click of a mouse. They can make their payments online through credit card. For this, there will be a form in which they will submit their details including that of their credit card. To accept online payment, you can link your account to any of the Internet gateway solution providers, which include Verisign, Orbital, or Fast Transact. You can link your order forms to these gateway companies, who will then process the transactions.
Then there is the phone line processing services. That means the customers can dial a toll free number, and provide the requisite information based on the voice prompts.
Another service is the POS (Credit card service), which enables you to take orders over the phone and fax and process them through a terminal machine.
You also have the option of a computer software program that can store your customer’s details, as these are beneficial for recurring payments. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.
Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Account-Services&id=144901
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole
Check out any store and you will find that people no longer find it viable to make payments in cash. The preferred mode of payment is the debit card or the credit card. No matter what your business, the best way to stay ahead is to give the customers the ease of making the payment in the mode they choose. This means if they don’t want to pay cash, you must have the provisions to accept credit card payments. In fact studies have shown that accepting credit payments can increase your sales manifold. To accept credit card payments, you will need an online merchant account with a bank, financial institution, or acquiring institutions. All these institutions charge a minimal amount of fees for their services, but then the fee is well worth the improvement in your business.
Your financial or acquiring institution should be able to provide a number of services. First and foremost they should be able to provide you personalized services in setting up your account. Your merchant account should have facilities for online trading, as also taking orders on the phone.
Now, suppose your business is an online store. This means, your customers can make orders merely by the click of a mouse. They can make their payments online through credit card. For this, there will be a form in which they will submit their details including that of their credit card. To accept online payment, you can link your account to any of the Internet gateway solution providers, which include Verisign, Orbital, or Fast Transact. You can link your order forms to these gateway companies, who will then process the transactions.
Then there is the phone line processing services. That means the customers can dial a toll free number, and provide the requisite information based on the voice prompts.
Another service is the POS (Credit card service), which enables you to take orders over the phone and fax and process them through a terminal machine.
You also have the option of a computer software program that can store your customer’s details, as these are beneficial for recurring payments. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.
Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Account-Services&id=144901
Monday, May 14, 2007
Merchant Account Services
Taking Advantage of Online Offers Without Giving Up Your Credit Card Info
By Jeffrey Solochek
My wife works for the local BlockBuster video in town and they are supposed to get people to sign up for an online account but the problem is that a lot of people are afraid to sign up for these things because of fear of having to put their credit card info on the form. With the world coming online credit card fraud is on the increase. How are we able to take advantage of the savings from these online offers without having to give up our personal credit card information?
Whenever I sign up for anything that says it is going to deduct from a credit card I get one of those prepaid credit cards and only put enough on the card to take care of any online obligations. This way I don't have to worry about additional charges or somebody hacking into this companies computers and getting all my information. You would think that stores like Blockbuster Video would sell prepaid credit cards in their stores so that they could offer this option to customers thus increasing the number of online accounts they are taking every day.
Prepaid credit cards is a great way to eliminate the fear of online purchases.. Even when purchasing from a site like Ebay you can make use of these prepaid credit cards. I have very rarely found a site that won't accept the use of a prepaid card. The only card I have ever had refused was one of those prepaid American Express gift cards. My GreenDot card has never been turned down and they don't charge a transaction fee like a lot of cards do.
Another option would be to set up a small savings account at your local bank and get a Visa debit card. The only thing I don't like about these debit cards is it is very hard to ever dispute a transaction on them. A regular credit card will give you usually about 30 days to dispute a transaction whereas Discover card says they will give you 90 days and a friend of mine who has an American Express card says they will allow him to dispute a transaction for a year.
Now I did have a Discover card at one time and I used it to by some software. The software was defective so I disputed the transaction but all Discover Card cared about was that I had received the software. They stated that they did not care that the software did not work that if that were the case I should dispute it directly with the merchant.
Jeffrey has over 2 decades experience in the business world. When he writes he blends his unique wit and humour into every article which if you read his blog you can see all of his many works. http://www.nosugarcoating.info
Article Source: http://EzineArticles.com/?expert=Jeffrey_Solochek
http://EzineArticles.com/?Taking-Advantage-of-Online-Offers-Without-Giving-Up-Your-Credit-Card-Info&id=493993
By Jeffrey Solochek
My wife works for the local BlockBuster video in town and they are supposed to get people to sign up for an online account but the problem is that a lot of people are afraid to sign up for these things because of fear of having to put their credit card info on the form. With the world coming online credit card fraud is on the increase. How are we able to take advantage of the savings from these online offers without having to give up our personal credit card information?
Whenever I sign up for anything that says it is going to deduct from a credit card I get one of those prepaid credit cards and only put enough on the card to take care of any online obligations. This way I don't have to worry about additional charges or somebody hacking into this companies computers and getting all my information. You would think that stores like Blockbuster Video would sell prepaid credit cards in their stores so that they could offer this option to customers thus increasing the number of online accounts they are taking every day.
Prepaid credit cards is a great way to eliminate the fear of online purchases.. Even when purchasing from a site like Ebay you can make use of these prepaid credit cards. I have very rarely found a site that won't accept the use of a prepaid card. The only card I have ever had refused was one of those prepaid American Express gift cards. My GreenDot card has never been turned down and they don't charge a transaction fee like a lot of cards do.
Another option would be to set up a small savings account at your local bank and get a Visa debit card. The only thing I don't like about these debit cards is it is very hard to ever dispute a transaction on them. A regular credit card will give you usually about 30 days to dispute a transaction whereas Discover card says they will give you 90 days and a friend of mine who has an American Express card says they will allow him to dispute a transaction for a year.
Now I did have a Discover card at one time and I used it to by some software. The software was defective so I disputed the transaction but all Discover Card cared about was that I had received the software. They stated that they did not care that the software did not work that if that were the case I should dispute it directly with the merchant.
Jeffrey has over 2 decades experience in the business world. When he writes he blends his unique wit and humour into every article which if you read his blog you can see all of his many works. http://www.nosugarcoating.info
Article Source: http://EzineArticles.com/?expert=Jeffrey_Solochek
http://EzineArticles.com/?Taking-Advantage-of-Online-Offers-Without-Giving-Up-Your-Credit-Card-Info&id=493993
Saturday, May 12, 2007
Merchant Account Services
Gambling Merchant Accounts – 10 Points to Ponder
By Jessica Gables
Choosing a gambling merchant account, much like choosing any other merchant account or online payment gateway, requires a good deal of thought and consideration, as the main purpose of an Internet payment gateway is to ensure the safe and secure transaction of funds between an online service provider and a client.
There are a multitude of merchant accounts to be found on the Internet today, with some of them choosing to handle transactions for specific online businesses, while others choose to handle all forms of online businesses that require a payment gateway. Certain forms of businesses have been classified as “high risk”, primarily because of some aspect of the business.
A high risk merchant account is usually defined by factors such as type of industry, credit history, processing history, average ticket, monthly processing volume, and location of business.
Businesses that are considered high risk include adult content, pharmaceuticals, gambling, magazine subscriptions, streaming or downloadable content, dating services, travel and travel related services.
Here are some pointers to consider when looking for a viable gambling merchant account provider:
1. Make sure to do a market research. Talk to someone who has spent years in the business, you can learn a lot of important things from them.
2. Be sure to check the big numbers, cancellation fees, and most importantly, the hidden fees up front. A merchant account provider who really wants to do business with you will at least try to work with you to adapt to your capabilities.
3. Be sure to compare the different discount rates offered by the various payment processors. There will always be a merchant account provider offering good services online with a much better rate than others.
4. Be careful about advertisements that can be misleading or appear suspicious. If they lie on their ads then most likely they will do the same to you.
5. Verify the integrity of the company. Do a background check and see if the company is known for good business practices and if they have transacted with companies like yours.
6. Do not make a habit of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. If a company will not leave an application with you overnight, they are probably trying to use "high pressure" tactics so that you don't have time to really know what you are signing.
7. Find out what people are saying about the merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is by word of mouth, as these connote first hand experience and not just hearsay.
8. In choosing a credit card payment processor, check out the fees and services. Compare which one will work best for your business.
9. Check out how and when will you get the payment. Some merchant account providers have a minimum amount before they send you the payment. Others may charge you with wire transfer fees.
10. Avoid companies with high monthly fees. These providers will drain you of your resources. Many of these companies rely on those monthly fees to compensate their marketing and sales efforts.
Jess Gables is a traveling journalist and author of numerous articles published in travel and hotel service sites, television programs and print materials. She is also a large contributor of articles to various online resource cites, garnering the reputation of being a trusted author on various topics. Gables is a content producer for various resource websites, and she has a background in photography, videography, pre and post production and online affiliate marketing.
Article Source: http://EzineArticles.com/?expert=Jessica_Gables
http://EzineArticles.com/?Gambling-Merchant-Accounts---10-Points-to-Ponder&id=473606
By Jessica Gables
Choosing a gambling merchant account, much like choosing any other merchant account or online payment gateway, requires a good deal of thought and consideration, as the main purpose of an Internet payment gateway is to ensure the safe and secure transaction of funds between an online service provider and a client.
There are a multitude of merchant accounts to be found on the Internet today, with some of them choosing to handle transactions for specific online businesses, while others choose to handle all forms of online businesses that require a payment gateway. Certain forms of businesses have been classified as “high risk”, primarily because of some aspect of the business.
A high risk merchant account is usually defined by factors such as type of industry, credit history, processing history, average ticket, monthly processing volume, and location of business.
Businesses that are considered high risk include adult content, pharmaceuticals, gambling, magazine subscriptions, streaming or downloadable content, dating services, travel and travel related services.
Here are some pointers to consider when looking for a viable gambling merchant account provider:
1. Make sure to do a market research. Talk to someone who has spent years in the business, you can learn a lot of important things from them.
2. Be sure to check the big numbers, cancellation fees, and most importantly, the hidden fees up front. A merchant account provider who really wants to do business with you will at least try to work with you to adapt to your capabilities.
3. Be sure to compare the different discount rates offered by the various payment processors. There will always be a merchant account provider offering good services online with a much better rate than others.
4. Be careful about advertisements that can be misleading or appear suspicious. If they lie on their ads then most likely they will do the same to you.
5. Verify the integrity of the company. Do a background check and see if the company is known for good business practices and if they have transacted with companies like yours.
6. Do not make a habit of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. If a company will not leave an application with you overnight, they are probably trying to use "high pressure" tactics so that you don't have time to really know what you are signing.
7. Find out what people are saying about the merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is by word of mouth, as these connote first hand experience and not just hearsay.
8. In choosing a credit card payment processor, check out the fees and services. Compare which one will work best for your business.
9. Check out how and when will you get the payment. Some merchant account providers have a minimum amount before they send you the payment. Others may charge you with wire transfer fees.
10. Avoid companies with high monthly fees. These providers will drain you of your resources. Many of these companies rely on those monthly fees to compensate their marketing and sales efforts.
Jess Gables is a traveling journalist and author of numerous articles published in travel and hotel service sites, television programs and print materials. She is also a large contributor of articles to various online resource cites, garnering the reputation of being a trusted author on various topics. Gables is a content producer for various resource websites, and she has a background in photography, videography, pre and post production and online affiliate marketing.
Article Source: http://EzineArticles.com/?expert=Jessica_Gables
http://EzineArticles.com/?Gambling-Merchant-Accounts---10-Points-to-Ponder&id=473606
Friday, May 11, 2007
Merchant Account Services
Credit Card Merchant Account – Do You Need One?
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Thursday, May 10, 2007
Merchant Account Services
Accept Credit Cards Online Without a Merchant Account
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
Tuesday, May 8, 2007
Merchant Account Services
How To Comprehend Merchant Service Provider Rates
By: Jim Saka
If you have an online business today, you are well aware of the necessity to have a merchant service of some kind. Being able to accept credit cards online makes it convenient for customers and allows them to feel secure about their purchase with a credit card. For the merchant, it is vital that you are well aware of the merchant service provider rates. Otherwise, it can be easy to spend an arm and a leg on a merchant service.
The first part to understanding your merchant service provider's rates is knowing the classifications of each transaction. Each transaction will fall into the category of either qualified, midqualified or nonqualified. There are several ways the classification is determined, including the Visa/MasterCard regulations, the category of credit card used, whether the address verification system was used and whether the order was shipped within 24 hours.
If the transaction for whatever reason does not satisfy all conditions set by the Visa/MasterCard regulations, the transaction falls into the category of either midqualified or nonqualified. Another way the transaction can be classified as a nonqualified surcharge is by the category of credit card used. If you use a business card, business cards are considered high-risk, which puts the order into a nonqualified surcharge.
What this means is that your merchant service provider rate will be potentially 1.4% more in surcharges because of it being categorized as nonqualified. To avoid being docked any extra rate for transactions, you will want to talk with your merchant service provider to see the list of determinants that put a transaction into nonqualified.
The rates that you really want to watch for when going through a merchant service provider are the discount rate for each transaction and the per-transaction fee. The discount rate is the percentage applied to the dollar value of each transaction. The per-transaction fee, on the other hand, is a flat fee that is assessed after each transaction.
If you have a qualified transaction, the merchant service provider rates will generally be in your favor. However, the rates will fluctuate and could potentially not be the most cost-effective if the transaction is nonqualified or midqualified.
As you can see, having nonqualified or midqualified surcharges can cause high merchant service provider rates. By being aware of how to stay away from these classifications and assure yourself that you fall into the qualified surcharges, your rates will be much more feasible. All in all, it will make more a convenient way for your customers to make transactions using their credit cards while feeling safe at the same time.
Copyright (c) 2007 Jim Saka
Article Source: http://www.ApprovedArticles.com
For more information about Jim Saka or to find out how your business can can benefit from accepting credit cards online or at a place of business visit United Bank Card's merchant account services websites.
By: Jim Saka
If you have an online business today, you are well aware of the necessity to have a merchant service of some kind. Being able to accept credit cards online makes it convenient for customers and allows them to feel secure about their purchase with a credit card. For the merchant, it is vital that you are well aware of the merchant service provider rates. Otherwise, it can be easy to spend an arm and a leg on a merchant service.
The first part to understanding your merchant service provider's rates is knowing the classifications of each transaction. Each transaction will fall into the category of either qualified, midqualified or nonqualified. There are several ways the classification is determined, including the Visa/MasterCard regulations, the category of credit card used, whether the address verification system was used and whether the order was shipped within 24 hours.
If the transaction for whatever reason does not satisfy all conditions set by the Visa/MasterCard regulations, the transaction falls into the category of either midqualified or nonqualified. Another way the transaction can be classified as a nonqualified surcharge is by the category of credit card used. If you use a business card, business cards are considered high-risk, which puts the order into a nonqualified surcharge.
What this means is that your merchant service provider rate will be potentially 1.4% more in surcharges because of it being categorized as nonqualified. To avoid being docked any extra rate for transactions, you will want to talk with your merchant service provider to see the list of determinants that put a transaction into nonqualified.
The rates that you really want to watch for when going through a merchant service provider are the discount rate for each transaction and the per-transaction fee. The discount rate is the percentage applied to the dollar value of each transaction. The per-transaction fee, on the other hand, is a flat fee that is assessed after each transaction.
If you have a qualified transaction, the merchant service provider rates will generally be in your favor. However, the rates will fluctuate and could potentially not be the most cost-effective if the transaction is nonqualified or midqualified.
As you can see, having nonqualified or midqualified surcharges can cause high merchant service provider rates. By being aware of how to stay away from these classifications and assure yourself that you fall into the qualified surcharges, your rates will be much more feasible. All in all, it will make more a convenient way for your customers to make transactions using their credit cards while feeling safe at the same time.
Copyright (c) 2007 Jim Saka
Article Source: http://www.ApprovedArticles.com
For more information about Jim Saka or to find out how your business can can benefit from accepting credit cards online or at a place of business visit United Bank Card's merchant account services websites.
Friday, May 4, 2007
Merchant Account Services
Everything About Chase Free Cash Rewards Visa Card by Richard Gilliland
The J.P.Morgan Chase and Company is one of the renowned and leading financial service providers in the world. It provides its services to over 50 countries in the world.
The myriad of credit cards offered by the Chase Company is very beneficial. The Chase Free Cash Rewards Visa Card is one of the cards, which is popular for its cash back facility. The Cash Rewards Visa Card enables you to earn points and in return, the points can fetch you other gifts and money. If you are interested in getting your cash back, then this credit card should be your option.
Cash Back Reward Program
The credit card is specifically designed for those who have very good credit and would like to benefit from the card's cash back reward program. The cash reward offered by this credit card is very lucrative. You will have ample opportunities to earn points for every dollar you spend and eventually the accumulated points will fetch you gift certificates or cash.
As said, you earn a point for spending a dollar. Again, your first purchase entitles you to 1000 bonus points. Your awards start at mere 2500 points. You will be free to choose your reward - you can opt between $25 gift checks and $25 gift certificate from leading national-level merchant, once you reach the 2500-mark. The maximum number of points you can earn in a year is 60000 points, which have no expiration time as such.
Card Features
If you qualify for the Cash Rewards SM Visa Card, then you can enjoy 0% introductory rate on balance transfers and purchases for the first twelve billing cycles. Once the introductory period expires, you can still enjoy a reasonable APR of 14.24% on purchases and balance transfers. The card is fee free; application fees, participation fees, inactive fees, reload fees, etc., are all non-applicable.
The card features and rewards make it a great option for people who have good credit and clear their payments regularly; however, it may not benefit you if you carry a revolving balance. The 'Two Cycles Average Daily Balance' method for calculating finance charges will cost you heavily - burdening you with huge interests and ruining your prospects for earning cash-back.
The Perquisites
The credit card also offers standard platinum services and benefits. Extended warranty, rental car insurance, travel accident insurance and other similar benefits can be availed with this credit card.
The Chase Free Cash Rewards Visa Card allows you to enjoy many account related services like the emergency cash replacement, emergency card replacement, travel and emergency assistance services, purchase protection, no liability for unauthorized transactions and other such helpful features. Nevertheless, you should pay heed to the limitations, restrictions and exclusions before accepting the card.
About the Author
Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card - Compare Credit Card Offers with Credit-Wisdom.com - Unraveling the best in Personal and Business Credit Cards.
The J.P.Morgan Chase and Company is one of the renowned and leading financial service providers in the world. It provides its services to over 50 countries in the world.
The myriad of credit cards offered by the Chase Company is very beneficial. The Chase Free Cash Rewards Visa Card is one of the cards, which is popular for its cash back facility. The Cash Rewards Visa Card enables you to earn points and in return, the points can fetch you other gifts and money. If you are interested in getting your cash back, then this credit card should be your option.
Cash Back Reward Program
The credit card is specifically designed for those who have very good credit and would like to benefit from the card's cash back reward program. The cash reward offered by this credit card is very lucrative. You will have ample opportunities to earn points for every dollar you spend and eventually the accumulated points will fetch you gift certificates or cash.
As said, you earn a point for spending a dollar. Again, your first purchase entitles you to 1000 bonus points. Your awards start at mere 2500 points. You will be free to choose your reward - you can opt between $25 gift checks and $25 gift certificate from leading national-level merchant, once you reach the 2500-mark. The maximum number of points you can earn in a year is 60000 points, which have no expiration time as such.
Card Features
If you qualify for the Cash Rewards SM Visa Card, then you can enjoy 0% introductory rate on balance transfers and purchases for the first twelve billing cycles. Once the introductory period expires, you can still enjoy a reasonable APR of 14.24% on purchases and balance transfers. The card is fee free; application fees, participation fees, inactive fees, reload fees, etc., are all non-applicable.
The card features and rewards make it a great option for people who have good credit and clear their payments regularly; however, it may not benefit you if you carry a revolving balance. The 'Two Cycles Average Daily Balance' method for calculating finance charges will cost you heavily - burdening you with huge interests and ruining your prospects for earning cash-back.
The Perquisites
The credit card also offers standard platinum services and benefits. Extended warranty, rental car insurance, travel accident insurance and other similar benefits can be availed with this credit card.
The Chase Free Cash Rewards Visa Card allows you to enjoy many account related services like the emergency cash replacement, emergency card replacement, travel and emergency assistance services, purchase protection, no liability for unauthorized transactions and other such helpful features. Nevertheless, you should pay heed to the limitations, restrictions and exclusions before accepting the card.
About the Author
Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card - Compare Credit Card Offers with Credit-Wisdom.com - Unraveling the best in Personal and Business Credit Cards.
Thursday, May 3, 2007
Merchant Account Services
A Brief Primer on Merchant Account Discount Rates
By Colin Albert
You just obtained a merchant account at a quoted discount rate of 1.79% for your store. But, lo and behold, when your account statement for your first month's processing arrived, you discovered to your dismay that many of your customers' transactions were processed at a much higher rate than the one quoted to you. Not a pleasant surprise.
You are not alone. In fact, we bet the majority of merchants don't really understand how merchant account discount rates are applied and calculated.
So let's see if we can shed at least a little light on what's happening here.
A Discount Rate is a charge that is levied on each transaction you process through your merchant account and is calculated as a percentage of that transaction's dollar amount.
The Discount Rate that most applicants are quoted when searching for a credit card processing solution is what is known as the Qualified Rate. Your processing company determines the Qualified Rate by initially looking at the InterBank Exchange rate that VISA and MasterCard levy - this InterBank Exchange fee charged by the credit card companies is the same for all banks and processing companies. The banks and processors then add on a further percentage to that fee (this is part of the profit they make) to determine the Qualified Rate they charge to their merchants.
In the case of a retailer, the current Qualified Rate is in the 1.70% to 1.85% range - and for phone and mail orders, as well as internet processing, the range is commonly 2.25% to 2.49%. The latter range is higher because of the fact that in those types of transactions, the merchant does not have the customer's physical credit card present - so the risk of fraud is greater than it is for retail 'card present' sales.
So far so good - most merchants understand things to this point. But there are certain risk factors that can cause your transaction to be levied with an additional percentage charge. These surcharges are extracted on 'Mid Qualified' and 'Non Qualified' transactions. The surcharge for Mid Qualified transactions is usually in the .75% to 1.25% range and for Non Qualified is generally 1.50% to 2.00%. Remember, these are charges on top of the standard Qualified Rate.
So what are the most common circumstances when either Mid or Non Qualified surcharges may apply?
* Mid Qualified: (a) for phone and mail order as well as internet transactions, where there is no AVS (address verification) match; and (b) where a retail merchant manually keys-in the transaction because the credit card is present but cannot be swiped, or keys in an order where the card is not present (e.g. a phone order).
* Non Qualified: (a) for phone and mail order and internet sales, where the transaction is keyed-in but is not part of a daily batch out of that day's transactions. (Note: where a person keys in his information on a website, the large majority of gateways do the 'batching' automatically. Therefore for internet processing, this is not generally a concern); (b) where a retail merchant doesn't batch out daily; or (c) where the transaction is made utilizing a corporate, a non-U.S., a business or a government credit card.
So, if many of your customers reside outside of the United States, or use corporate, government or business cards, you can do yourself a big favor by negotiating as low as possible Non Qualified Discount Rate.
Unfortunately, there are another fifty or so other factors that can affect the discount rate you'll be charged (no-one said it would be easy to understand all this!). These include:
* high risk merchants can expect higher discount rates across the board
* Visa Signature Reward Cards and MasterCard World Cards have surcharges applied
* if the customer's order is not shipped within 24 hours, a surcharge may be levied
The bottom line? Prior to signing on for your merchant account make sure that you carefully read the provider's complete array of criteria for evaluating what discount rate will be applied to a particular sale. And speak with your agent if you have any questions.
Colin Albert is the founder of The Merchant Account Explorer, a website devoted to providing businesses with advice on credit card merchant accounts. The site also offers recommendations regarding leading Internet and retail merchant account providers.
Article Source: http://EzineArticles.com/?expert=Colin_Albert
http://EzineArticles.com/?A-Brief-Primer-on-Merchant-Account-Discount-Rates&id=290230
By Colin Albert
You just obtained a merchant account at a quoted discount rate of 1.79% for your store. But, lo and behold, when your account statement for your first month's processing arrived, you discovered to your dismay that many of your customers' transactions were processed at a much higher rate than the one quoted to you. Not a pleasant surprise.
You are not alone. In fact, we bet the majority of merchants don't really understand how merchant account discount rates are applied and calculated.
So let's see if we can shed at least a little light on what's happening here.
A Discount Rate is a charge that is levied on each transaction you process through your merchant account and is calculated as a percentage of that transaction's dollar amount.
The Discount Rate that most applicants are quoted when searching for a credit card processing solution is what is known as the Qualified Rate. Your processing company determines the Qualified Rate by initially looking at the InterBank Exchange rate that VISA and MasterCard levy - this InterBank Exchange fee charged by the credit card companies is the same for all banks and processing companies. The banks and processors then add on a further percentage to that fee (this is part of the profit they make) to determine the Qualified Rate they charge to their merchants.
In the case of a retailer, the current Qualified Rate is in the 1.70% to 1.85% range - and for phone and mail orders, as well as internet processing, the range is commonly 2.25% to 2.49%. The latter range is higher because of the fact that in those types of transactions, the merchant does not have the customer's physical credit card present - so the risk of fraud is greater than it is for retail 'card present' sales.
So far so good - most merchants understand things to this point. But there are certain risk factors that can cause your transaction to be levied with an additional percentage charge. These surcharges are extracted on 'Mid Qualified' and 'Non Qualified' transactions. The surcharge for Mid Qualified transactions is usually in the .75% to 1.25% range and for Non Qualified is generally 1.50% to 2.00%. Remember, these are charges on top of the standard Qualified Rate.
So what are the most common circumstances when either Mid or Non Qualified surcharges may apply?
* Mid Qualified: (a) for phone and mail order as well as internet transactions, where there is no AVS (address verification) match; and (b) where a retail merchant manually keys-in the transaction because the credit card is present but cannot be swiped, or keys in an order where the card is not present (e.g. a phone order).
* Non Qualified: (a) for phone and mail order and internet sales, where the transaction is keyed-in but is not part of a daily batch out of that day's transactions. (Note: where a person keys in his information on a website, the large majority of gateways do the 'batching' automatically. Therefore for internet processing, this is not generally a concern); (b) where a retail merchant doesn't batch out daily; or (c) where the transaction is made utilizing a corporate, a non-U.S., a business or a government credit card.
So, if many of your customers reside outside of the United States, or use corporate, government or business cards, you can do yourself a big favor by negotiating as low as possible Non Qualified Discount Rate.
Unfortunately, there are another fifty or so other factors that can affect the discount rate you'll be charged (no-one said it would be easy to understand all this!). These include:
* high risk merchants can expect higher discount rates across the board
* Visa Signature Reward Cards and MasterCard World Cards have surcharges applied
* if the customer's order is not shipped within 24 hours, a surcharge may be levied
The bottom line? Prior to signing on for your merchant account make sure that you carefully read the provider's complete array of criteria for evaluating what discount rate will be applied to a particular sale. And speak with your agent if you have any questions.
Colin Albert is the founder of The Merchant Account Explorer, a website devoted to providing businesses with advice on credit card merchant accounts. The site also offers recommendations regarding leading Internet and retail merchant account providers.
Article Source: http://EzineArticles.com/?expert=Colin_Albert
http://EzineArticles.com/?A-Brief-Primer-on-Merchant-Account-Discount-Rates&id=290230
Wednesday, May 2, 2007
Merchant Account Services
Anatomy of Merchant Service Fees
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
Monday, April 30, 2007
Merchant Account Services
Merchant Services Account
By Shane Penrod
Can a Merchant Services Account really help your company to
grow? Dozens of satisfied business owners claim it can, and
they eagerly support this type of service for use with many
kinds of companies and enterprises. Basically, a merchant
account will allow you to collect credit card payments from
your customers in a variety of ways. You’ve probably heard all
about these from other company owners in your area, but if not,
here is a basic rundown of what to expect.
Getting approved for a Merchant Services Account means that
your company will be able to accept credit card payments. You
can collect these in several interesting ways, depending on the
nature of your business and your clientele. If you operate a
retail shop or a restaurant, for example, you can set up a
credit card processor onsite in the checkout area to receive
payments from your customers. On the other hand, if you deliver
home-baked goodies to customers at lunchtime in their business
offices, you can take along a wireless unit to collect payments
while making the delivery. All transactions can be concluded at
the point of purchase, leaving your time free to do more
valuable things than collect back checks or send out monthly
statements.
A Merchant Services Account can help you set up a digital
credit card payment program. For example, you can arrange for
customers to call a toll-free number, listen to a menu of
choices before pressing the telephone keypad number that
corresponds with their reason for calling, and shop for
products that are described briefly on the phone in a
pre-recorded message. If they purchase anything, they can pay
for it promptly with a credit card by punching in the requisite
account numbers. Your customers will love the ease with which
they can call your company, shop without coming into the store,
and make payments without the exact amount of cash.
Opening a Merchant Services Account also can equip you with
additional technology, like a pager, a wireless phone, or a
debit and e-check processor. You can reduce the amount of help
you will need from employees by relying more on technology to
help you run your business. One of the most expansive credit
card payment options is to set up a Website that represents
your company’s business. You can promote the latest products or
sales, list prices, include links to related sites, and let
customers make purchases that they can pay with a credit card
right at the site that operates in real time. Your lender will
coordinate the payment-processing program so that the amount
paid by your customer will be deposited directly in your
company’s bank account.
There is no need to keep on doing business the old fashioned
way when you can easily upgrade to an e-commerce structure.
Costs are manageable, and benefits are noticeable in short
order. Ask your banker, a colleague, or an Internet Website for
details about how you can apply for benefits that will help your
company become all it can be with a Merchant Services Account.
About the Author: Shane Penrod is the founder of
http://www.merchant-account-quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on
merchant account rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
Can a Merchant Services Account really help your company to
grow? Dozens of satisfied business owners claim it can, and
they eagerly support this type of service for use with many
kinds of companies and enterprises. Basically, a merchant
account will allow you to collect credit card payments from
your customers in a variety of ways. You’ve probably heard all
about these from other company owners in your area, but if not,
here is a basic rundown of what to expect.
Getting approved for a Merchant Services Account means that
your company will be able to accept credit card payments. You
can collect these in several interesting ways, depending on the
nature of your business and your clientele. If you operate a
retail shop or a restaurant, for example, you can set up a
credit card processor onsite in the checkout area to receive
payments from your customers. On the other hand, if you deliver
home-baked goodies to customers at lunchtime in their business
offices, you can take along a wireless unit to collect payments
while making the delivery. All transactions can be concluded at
the point of purchase, leaving your time free to do more
valuable things than collect back checks or send out monthly
statements.
A Merchant Services Account can help you set up a digital
credit card payment program. For example, you can arrange for
customers to call a toll-free number, listen to a menu of
choices before pressing the telephone keypad number that
corresponds with their reason for calling, and shop for
products that are described briefly on the phone in a
pre-recorded message. If they purchase anything, they can pay
for it promptly with a credit card by punching in the requisite
account numbers. Your customers will love the ease with which
they can call your company, shop without coming into the store,
and make payments without the exact amount of cash.
Opening a Merchant Services Account also can equip you with
additional technology, like a pager, a wireless phone, or a
debit and e-check processor. You can reduce the amount of help
you will need from employees by relying more on technology to
help you run your business. One of the most expansive credit
card payment options is to set up a Website that represents
your company’s business. You can promote the latest products or
sales, list prices, include links to related sites, and let
customers make purchases that they can pay with a credit card
right at the site that operates in real time. Your lender will
coordinate the payment-processing program so that the amount
paid by your customer will be deposited directly in your
company’s bank account.
There is no need to keep on doing business the old fashioned
way when you can easily upgrade to an e-commerce structure.
Costs are manageable, and benefits are noticeable in short
order. Ask your banker, a colleague, or an Internet Website for
details about how you can apply for benefits that will help your
company become all it can be with a Merchant Services Account.
About the Author: Shane Penrod is the founder of
http://www.merchant-account-quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on
merchant account rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Saturday, April 28, 2007
Merchant Account Services
Accept Credit Card Merchant Account
By Shane Penrod
If you’re looking to expand your business, you can soon accept
credit card merchant account payments by applying for a
merchant services account. Many lenders and financial
institutions are eager to provide this account to responsible
entrepreneurs who seek to provide credit card payment options
at their business. Whether you sell products from your home,
travel around to provide consulting or training services, or
conduct business solely over the Internet, a merchant services
account can help move your company into the e-commerce arena.
When you are ready to accept credit card merchant account
payments for your goods or services, start by shopping for an
established banker or lender that can offer you a merchant
services account. Look for a company that has been in business
for several years and enjoys a good reputation. You may want to
check with the Better Business Bureau to ensure that the company
is not running a scam and that it can provide as well as
maintain the benefits it offers. When you locate two or three
companies that you might want to work with, compare their
terms, prices, and equipment options. These can vary widely, so
first have an idea of what your company and customers need.
Don’t try to bite off more than you can chew by taking on too
much debt at first for equipment you may never or seldom use.
Instead, stay focused on your primary objective, which may be
as basic as processing credit card payments from customers who
stop by your restaurant for a meal. Only when you identify a
real need for additional services should you consider extending
your credit and your budget to buy these things, which might
include a pager, an e-check and debit processor, or a Website
credit payment processor.
If your business continues to grow and you want to accept
credit card merchant account payments on a wider scale, you can
set up a company Website to promote your company and offer
credit card processing options. A Website will let customers
visit any time it is convenient for them to do so, and you
don’t have to maintain a staff person on call to answer
questions. Just add an email option to the site, and your
clients can send questions, orders, or suggestions to you
directly, in addition to making credit card payments on goods
purchased at the Website. The site may include a product or
service description, price list, FAQs, and other relevant
details that will help answer customers’ questions and clear
the way for them to order online. Many people prefer this
shopping method to paying in cash or in person.
Accepting credit card payments can cost as little as a few
cents per transaction or an overall low percentage rate each
month. There may be additional fees, whoever, so be sure to ask
before signing a contract. Inquire about a domain name
registration, hosting fees, and site maintenance service terms.
Then get ready to watch as profits climb when you learn how to
accept credit card merchant account payments online.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
If you’re looking to expand your business, you can soon accept
credit card merchant account payments by applying for a
merchant services account. Many lenders and financial
institutions are eager to provide this account to responsible
entrepreneurs who seek to provide credit card payment options
at their business. Whether you sell products from your home,
travel around to provide consulting or training services, or
conduct business solely over the Internet, a merchant services
account can help move your company into the e-commerce arena.
When you are ready to accept credit card merchant account
payments for your goods or services, start by shopping for an
established banker or lender that can offer you a merchant
services account. Look for a company that has been in business
for several years and enjoys a good reputation. You may want to
check with the Better Business Bureau to ensure that the company
is not running a scam and that it can provide as well as
maintain the benefits it offers. When you locate two or three
companies that you might want to work with, compare their
terms, prices, and equipment options. These can vary widely, so
first have an idea of what your company and customers need.
Don’t try to bite off more than you can chew by taking on too
much debt at first for equipment you may never or seldom use.
Instead, stay focused on your primary objective, which may be
as basic as processing credit card payments from customers who
stop by your restaurant for a meal. Only when you identify a
real need for additional services should you consider extending
your credit and your budget to buy these things, which might
include a pager, an e-check and debit processor, or a Website
credit payment processor.
If your business continues to grow and you want to accept
credit card merchant account payments on a wider scale, you can
set up a company Website to promote your company and offer
credit card processing options. A Website will let customers
visit any time it is convenient for them to do so, and you
don’t have to maintain a staff person on call to answer
questions. Just add an email option to the site, and your
clients can send questions, orders, or suggestions to you
directly, in addition to making credit card payments on goods
purchased at the Website. The site may include a product or
service description, price list, FAQs, and other relevant
details that will help answer customers’ questions and clear
the way for them to order online. Many people prefer this
shopping method to paying in cash or in person.
Accepting credit card payments can cost as little as a few
cents per transaction or an overall low percentage rate each
month. There may be additional fees, whoever, so be sure to ask
before signing a contract. Inquire about a domain name
registration, hosting fees, and site maintenance service terms.
Then get ready to watch as profits climb when you learn how to
accept credit card merchant account payments online.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Friday, April 27, 2007
Merchant Account Services
Offshore Merchant Account Services
By Steve Valentino
Is your domestic bank failing to give you the right assistance in making your business reach maximum potential? Is credit card processing through your domestic bank becoming a hassle? You can surely benefit from offshore merchant account services. Such an account practices in similar fashion to any other domestic merchant account would. However, the policies and customer treatment is much different. They give you more scope and flexibility in processing your online orders taken on credit cards.
Credit card processing is vital in today’s scenario when click and brick companies are fast taking over the brick and mortar companies. Offshore merchant account services give you the ability of prompt multi-currency processing. You can accept orders from more than just a few types of credit cards. Moreover, the volume of order processing is not restricted as is the case in many of the merchant accounts with domestic banks. The offshore market is very competitive. The banks need your business. Therefore they are ready to give you offshore merchant account services on your terms and ready to welcome your business account - even if it is a high-risk business such as online gambling, online pharmacy, adult entertainment, gaming, etc.
Business legislations in most of the markets outside USA are quite lenient and flexible. This makes it easier for you to open an offshore merchant account and business becomes easier. The right kind of offshore merchant account service can help you invest your profits offshore in lucrative markets without having to face the black books of the revenue department. Offshore merchant accounts usually attract high tax benefits that add to their attraction.
The offshore merchant account service providers usually charge high processing fees but it sounds minimal when you compare it with low charge backs, no deposits and other benefits. Moreover, they are ready to bear the high risk that may be associated with your business type. Offshore merchant account services include the highest-level security, encryption and fraud protection systems. If you think of expanding your business by leaps and bounds over time, you must consider getting an offshore merchant account.
Offshore Merchant Accounts provides detailed information on Benefits of Offshore Merchant Accounts, Free Offshore Merchant Accounts, Offshore Bank Accounts, Offshore Credit Card Processing and more. Offshore Merchant Accounts is affiliated with Online Merchant Account Application.
Article Source: http://EzineArticles.com/?expert=Steve_Valentino
http://EzineArticles.com/?Offshore-Merchant-Account-Services&id=227385
By Steve Valentino
Is your domestic bank failing to give you the right assistance in making your business reach maximum potential? Is credit card processing through your domestic bank becoming a hassle? You can surely benefit from offshore merchant account services. Such an account practices in similar fashion to any other domestic merchant account would. However, the policies and customer treatment is much different. They give you more scope and flexibility in processing your online orders taken on credit cards.
Credit card processing is vital in today’s scenario when click and brick companies are fast taking over the brick and mortar companies. Offshore merchant account services give you the ability of prompt multi-currency processing. You can accept orders from more than just a few types of credit cards. Moreover, the volume of order processing is not restricted as is the case in many of the merchant accounts with domestic banks. The offshore market is very competitive. The banks need your business. Therefore they are ready to give you offshore merchant account services on your terms and ready to welcome your business account - even if it is a high-risk business such as online gambling, online pharmacy, adult entertainment, gaming, etc.
Business legislations in most of the markets outside USA are quite lenient and flexible. This makes it easier for you to open an offshore merchant account and business becomes easier. The right kind of offshore merchant account service can help you invest your profits offshore in lucrative markets without having to face the black books of the revenue department. Offshore merchant accounts usually attract high tax benefits that add to their attraction.
The offshore merchant account service providers usually charge high processing fees but it sounds minimal when you compare it with low charge backs, no deposits and other benefits. Moreover, they are ready to bear the high risk that may be associated with your business type. Offshore merchant account services include the highest-level security, encryption and fraud protection systems. If you think of expanding your business by leaps and bounds over time, you must consider getting an offshore merchant account.
Offshore Merchant Accounts provides detailed information on Benefits of Offshore Merchant Accounts, Free Offshore Merchant Accounts, Offshore Bank Accounts, Offshore Credit Card Processing and more. Offshore Merchant Accounts is affiliated with Online Merchant Account Application.
Article Source: http://EzineArticles.com/?expert=Steve_Valentino
http://EzineArticles.com/?Offshore-Merchant-Account-Services&id=227385
Wednesday, April 25, 2007
Merchant Account Services
Anatomy of Merchant Service Fees
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
Tuesday, April 17, 2007
Merchant Account Services
Compare Merchant Accounts And Merchant Services
By Shane Penrod
In this day of continuous technological advances, it is
important to choose the most appropriate services for your
company’s benefit – to compare merchant accounts is part of
that process. You don’t need to purchase every new bell or
whistle that comes along. It is a good idea, however, to stay
abreast of the most significant technological developments that
can specifically improve the way you conduct business to meet
your customer’s needs and increase profit ratios. For these
reasons you should plan to compare merchant accounts along with
their terms, costs, and services, to be sure you get the best
fit for your company.
A merchant account lets you upgrade your business to next
professional level. Instead of operating a small or informal
enterprise, perhaps one you run from your home or a small shop
on a casual basis, you can now opt for advanced services that
will impress clients, stay ahead of the competition, and free
your time for more important things while helping to increase
income while reducing costs. When you compare merchant
accounts, you can feel good about getting the most appropriate
services for your company without necessarily overspending to
buy things you don’t need. Comparison-shopping will inform you
about all the available options for equipment, maintenance and
service agreements, price, and terms. Then when you are ready
to open your account, you will have a better idea of how to
negotiate for the deal you want.
One way to compare merchant accounts is to shop online via the
Internet. Simply do a Google search or use another search
engine that you prefer. Type in “merchant account” and see what
comes up. Moving from one site to the next, you can check out
all the possible combinations of products and services to see
what is currently on the market. Compare the varied facets of
your merchant account to see how you can get the best price and
most suitable equipment. Keep in mind your customer’s needs,
since, after all, they are the ones who are most likely to be
affected. Ask some of your longstanding customers for their
opinion, or conduct an informal written survey.
Another way to compare merchant accounts is to talk with those
who have been using them for some time. You can ask online
merchant account providers for references, or make casual
inquiries among your business peers at civic groups or industry
events. You may want to check out a merchant account provider by
contacting the Better Business Bureau to find out if the company
checks out okay or if there are unresolved conflicts with other
customers. This will give you an idea of the companies to avoid
when you are ready to open a merchant account.
Your company is too valuable to gamble on a merchant account
provider who may disappear overnight or fail to stand behind
recommended products or services. Get a good sense of what each
company is able to provide and what other customers think of
them before you sign a contract. Don’t let anyone talk you into
something you don’t want or need, for no one understands your
company and your customers better than you do. Plan ahead for
this important decision when you compare merchant accounts.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
In this day of continuous technological advances, it is
important to choose the most appropriate services for your
company’s benefit – to compare merchant accounts is part of
that process. You don’t need to purchase every new bell or
whistle that comes along. It is a good idea, however, to stay
abreast of the most significant technological developments that
can specifically improve the way you conduct business to meet
your customer’s needs and increase profit ratios. For these
reasons you should plan to compare merchant accounts along with
their terms, costs, and services, to be sure you get the best
fit for your company.
A merchant account lets you upgrade your business to next
professional level. Instead of operating a small or informal
enterprise, perhaps one you run from your home or a small shop
on a casual basis, you can now opt for advanced services that
will impress clients, stay ahead of the competition, and free
your time for more important things while helping to increase
income while reducing costs. When you compare merchant
accounts, you can feel good about getting the most appropriate
services for your company without necessarily overspending to
buy things you don’t need. Comparison-shopping will inform you
about all the available options for equipment, maintenance and
service agreements, price, and terms. Then when you are ready
to open your account, you will have a better idea of how to
negotiate for the deal you want.
One way to compare merchant accounts is to shop online via the
Internet. Simply do a Google search or use another search
engine that you prefer. Type in “merchant account” and see what
comes up. Moving from one site to the next, you can check out
all the possible combinations of products and services to see
what is currently on the market. Compare the varied facets of
your merchant account to see how you can get the best price and
most suitable equipment. Keep in mind your customer’s needs,
since, after all, they are the ones who are most likely to be
affected. Ask some of your longstanding customers for their
opinion, or conduct an informal written survey.
Another way to compare merchant accounts is to talk with those
who have been using them for some time. You can ask online
merchant account providers for references, or make casual
inquiries among your business peers at civic groups or industry
events. You may want to check out a merchant account provider by
contacting the Better Business Bureau to find out if the company
checks out okay or if there are unresolved conflicts with other
customers. This will give you an idea of the companies to avoid
when you are ready to open a merchant account.
Your company is too valuable to gamble on a merchant account
provider who may disappear overnight or fail to stand behind
recommended products or services. Get a good sense of what each
company is able to provide and what other customers think of
them before you sign a contract. Don’t let anyone talk you into
something you don’t want or need, for no one understands your
company and your customers better than you do. Plan ahead for
this important decision when you compare merchant accounts.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Monday, April 16, 2007
Merchant Account Services
International Merchant Account Services – Are They Good Enough?
By Sara K
International merchant accounts offer business owners bigger opportunities for international trade. These merchant accounts are preferred over the domestic merchant accounts due to their easy acceptance and flexible rules. Not only that but international merchant accounts offer great economical advantages along with tax reductions. Merchants who have offshore and international merchant accounts get greater tax benefits because their merchant accounts are in some foreign country and hence the rules of the native country normally don’t apply.
Worldwide merchant account services provide you additional benefits like multi-currency processing facility which is a great facility not just for the merchants but also for the customers. Now international merchant account services are preferred worldwide due to the various advantages these merchant account owners get.
International merchant account service providers offer greater fraud protection and scam control for their merchants. The sales volume is not restricted and you get high volume merchant accounts that allow you to grow your business without any fear of your merchant account being closed down.
Worldwide merchant account services tend to offer safe and secure payment gateways and virtual terminals as well as online reporting for international merchant accounts. Not just that but the international merchant account customers are also able to accept major credit/debit cards.
International merchant accounts might have higher processing fees but the advantages they offer in terms of low to zero taxes with no volume limitations or processing restrictions make it all worth it. Having a merchant account service provider that offers worldwide services assists you in expanding your business around the globe. Millions of businesses around the world have established their mark by offering services and products online and international merchant accounts allow you to explore and spread out your business beyond the geographical boundaries.
With Instabill.com you get several payment processing solutions and cost effective solutions. Our international merchant account owners get a 24/7 customer support and are able to carry their online transactions safely in a secure and safe environment. With SSL encryption and fraud prevention tools merchants feel more secure. Increase your sales exponentially, whether you are in UK, US, Canada, Asia, Australia or anywhere in the Panama, our international merchant account services will offer you real-time processing and a lot more.
Article Source: http://EzineArticles.com/?expert=Sara_K
http://EzineArticles.com/?International-Merchant-Account-Services---Are-They-Good-Enough?&id=507256
By Sara K
International merchant accounts offer business owners bigger opportunities for international trade. These merchant accounts are preferred over the domestic merchant accounts due to their easy acceptance and flexible rules. Not only that but international merchant accounts offer great economical advantages along with tax reductions. Merchants who have offshore and international merchant accounts get greater tax benefits because their merchant accounts are in some foreign country and hence the rules of the native country normally don’t apply.
Worldwide merchant account services provide you additional benefits like multi-currency processing facility which is a great facility not just for the merchants but also for the customers. Now international merchant account services are preferred worldwide due to the various advantages these merchant account owners get.
International merchant account service providers offer greater fraud protection and scam control for their merchants. The sales volume is not restricted and you get high volume merchant accounts that allow you to grow your business without any fear of your merchant account being closed down.
Worldwide merchant account services tend to offer safe and secure payment gateways and virtual terminals as well as online reporting for international merchant accounts. Not just that but the international merchant account customers are also able to accept major credit/debit cards.
International merchant accounts might have higher processing fees but the advantages they offer in terms of low to zero taxes with no volume limitations or processing restrictions make it all worth it. Having a merchant account service provider that offers worldwide services assists you in expanding your business around the globe. Millions of businesses around the world have established their mark by offering services and products online and international merchant accounts allow you to explore and spread out your business beyond the geographical boundaries.
With Instabill.com you get several payment processing solutions and cost effective solutions. Our international merchant account owners get a 24/7 customer support and are able to carry their online transactions safely in a secure and safe environment. With SSL encryption and fraud prevention tools merchants feel more secure. Increase your sales exponentially, whether you are in UK, US, Canada, Asia, Australia or anywhere in the Panama, our international merchant account services will offer you real-time processing and a lot more.
Article Source: http://EzineArticles.com/?expert=Sara_K
http://EzineArticles.com/?International-Merchant-Account-Services---Are-They-Good-Enough?&id=507256
Saturday, April 14, 2007
Merchant Account Services
Replica Merchant Accounts
By Sara K
Replica business is considered high risk due to its potential nature of attracting fraud and chargeback. That is why banks and credit card processors are so reluctant about providing such businesses with replica merchant accounts.
Merchandise like handbags, wallets, watches, shoes etc fall into the category of replica products. Banks and processors alike remain dubious about providing merchants with replica merchant accounts. And even if such merchants are offered replica merchant accounts, there is still a large possibility that their accounts will be closed down once their business starts growing and they start getting high volume sales. Still there are some merchant account providers out there who are willing to take the risk and offer replica merchant accounts to replica product suppliers.
When searching for a replica merchant account, make sure that the merchant account provider also offers a high volume merchant account. Because once your business starts to expand you would require a merchant account that will be able to handle the high volume sales.
Some merchant account providers offer worldwide services for all kinds of high risk merchants. Go for only such replica merchant account providers who offer offshore merchant accounts with absolutely no sales limits and offer secure payment gateways along with a virtual terminal and risk management techniques. Fraud protection is another important issue for high risk merchants and those who own replica merchant accounts must be provided with all kinds of fraud prevention tools and safe online processing facilities. Merchant account providers need to ensure that replica merchant account owners can offer their customers various payment processing solutions and multi-currency processing services. SSL encrypted servers and 3D Secure offer additional security for replica merchant accounts.
Being a high risk business, replica merchant account owners need to be careful when choosing a merchant account provider, as the slightest of error might lead to a larger loss in future.
With Instabill’s Replica Merchant Accounts, you gain paramount benefits and a significant boost in sales. We offer real-time processing and cost effective solutions with online reporting facility and recurring billing services to replica merchant account owners, helping them increase their sales exponentially.
Article Source: http://EzineArticles.com/?expert=Sara_K
http://EzineArticles.com/?Replica-Merchant-Accounts&id=507248
By Sara K
Replica business is considered high risk due to its potential nature of attracting fraud and chargeback. That is why banks and credit card processors are so reluctant about providing such businesses with replica merchant accounts.
Merchandise like handbags, wallets, watches, shoes etc fall into the category of replica products. Banks and processors alike remain dubious about providing merchants with replica merchant accounts. And even if such merchants are offered replica merchant accounts, there is still a large possibility that their accounts will be closed down once their business starts growing and they start getting high volume sales. Still there are some merchant account providers out there who are willing to take the risk and offer replica merchant accounts to replica product suppliers.
When searching for a replica merchant account, make sure that the merchant account provider also offers a high volume merchant account. Because once your business starts to expand you would require a merchant account that will be able to handle the high volume sales.
Some merchant account providers offer worldwide services for all kinds of high risk merchants. Go for only such replica merchant account providers who offer offshore merchant accounts with absolutely no sales limits and offer secure payment gateways along with a virtual terminal and risk management techniques. Fraud protection is another important issue for high risk merchants and those who own replica merchant accounts must be provided with all kinds of fraud prevention tools and safe online processing facilities. Merchant account providers need to ensure that replica merchant account owners can offer their customers various payment processing solutions and multi-currency processing services. SSL encrypted servers and 3D Secure offer additional security for replica merchant accounts.
Being a high risk business, replica merchant account owners need to be careful when choosing a merchant account provider, as the slightest of error might lead to a larger loss in future.
With Instabill’s Replica Merchant Accounts, you gain paramount benefits and a significant boost in sales. We offer real-time processing and cost effective solutions with online reporting facility and recurring billing services to replica merchant account owners, helping them increase their sales exponentially.
Article Source: http://EzineArticles.com/?expert=Sara_K
http://EzineArticles.com/?Replica-Merchant-Accounts&id=507248
Friday, April 13, 2007
Merchant Account Services
Accept Credit Cards Online Without a Merchant Account
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
Thursday, April 12, 2007
Merchant Account Services
Simple Money Machines - The Review
By Ephigenie Akayo
Have you been trying to start or grow your Online Business but are frustrated about all the hype that are out there? How do the pros make all their money online? Simple, really! The pros spend 10% on technology and 90% of their time sending traffic to their website. Most of them start with affiliate programs, which is the easiest way to start your home business. They then establish a list of satisfied customers, potential clients and qualified leads.
In the past, you needed products or services in order to make money through the Internet. Today however, you can make money through the Internet by using affiliate programs. This program will allow you to make a substantial amount of income out of your website and is a very good home business that you would want to get into first.
Let’s define what affiliate programs is and how it works in order to fully understand how you can make some money out of it. An affiliate programs is basically selling third party products and you get a commission every time you make a sale. In short, it’s like a join venture. You partner with another website that have already developed a product or service that they‘re already selling online. Then your job is to send targeted traffic or visitors of your website to your merchant’s site. (A merchant is any individual or company that sells products or services online).
Most of the time, the company you become affiliated with provides all the necessary tools that you need in order to start the affiliate programs. However in order to fully succeed as an affiliate marketer you need more software to help you manage your programs. And of course the more software you need, the more money you spend on them and the more time you must put in to learn how to use them. Remember, like they say in America – Time is Money!
After researching, testing, tracking, making mistakes, I know what the crucial tools for your online affiliate programs are; and Simple Money Machines has all the tools you will need to succeed as an internet affiliate marketer.
Introducing the Simple Money Machines! It’s all the technology you need to make money online, rolled into one, simple, easy-to-use, hosted application. There is no need to hire the expensive webmaster or go through the long process of learning HTML, or FTP, or purchasing and learning multiple software packages, and then try to make all of them work together. It’s written in plain language and requires only simple skills. If you can point and click, then you’re already ahead of the online business money making game. Note: if you’re a technology nerd, then Simple Money Machines might not be for you.
The Simple Money Machines is the new platform technology that allows a totally non-technical person to setup a complete online business. There is no hosting accounts to setup and manage, no back ups to worry about and no software to update. You just login into your Simple Money Machines account and run your online business in no time.
The Simple Money Machines solves the problem and it includes accurate testing before going live on the Internet.
Here is just a little bit of what the Simple Money Machines includes:
•Auto-responder so you can capture email address, build your own list and send promotions. This is very important. Bear in mind that the money is in the “list”. It follows a set sequence of mailings, developed by you to ensure time promotion for your different marketing campaigns.
•Headline generator to create effective headlines
•Web page video to deeply increase conversions
•Webpage audio to increase site conversion
•Split-testing: allows you to track conversion
•Opt-In Page also known as a Squeeze Page. It’s a very great way to develop an email list.
•Traffic tracking software that lets you analyze the source and costs of different traffic options
•Credit card processing and tracking
•Dashboards to track and report visitors, conversions and financial results
I am not here to hide anything from you and I truly want you to have all the tools you need to start building a real home-based online business. Running affiliate programs is not rocket science. However without the right software in place to help you run your internet business effectively, you struggle and fight because of all the technology needed to help you keep things in more manageable way.
Go ahead and check out Simple Money Machines. It costs you less than a cup of coffee a day to give it a try. It comes with 3 or 10 machines that you can put to work right away and start making money in less than 30 days.
“Finally, a simple Internet Marketing Business in a-Box (Simple Money Machines) is available to show you Step-By-Step How to Make your first 50,000 thousand dollars online – 100% guaranteed. I have been using the Simple Money Machines for few months now and I am loving it. Find out more here:
http://instant-website.smmsite.com/1158
Article Source: http://EzineArticles.com/?expert=Ephigenie_Akayo
http://EzineArticles.com/?Simple-Money-Machines---The-Review&id=506283
By Ephigenie Akayo
Have you been trying to start or grow your Online Business but are frustrated about all the hype that are out there? How do the pros make all their money online? Simple, really! The pros spend 10% on technology and 90% of their time sending traffic to their website. Most of them start with affiliate programs, which is the easiest way to start your home business. They then establish a list of satisfied customers, potential clients and qualified leads.
In the past, you needed products or services in order to make money through the Internet. Today however, you can make money through the Internet by using affiliate programs. This program will allow you to make a substantial amount of income out of your website and is a very good home business that you would want to get into first.
Let’s define what affiliate programs is and how it works in order to fully understand how you can make some money out of it. An affiliate programs is basically selling third party products and you get a commission every time you make a sale. In short, it’s like a join venture. You partner with another website that have already developed a product or service that they‘re already selling online. Then your job is to send targeted traffic or visitors of your website to your merchant’s site. (A merchant is any individual or company that sells products or services online).
Most of the time, the company you become affiliated with provides all the necessary tools that you need in order to start the affiliate programs. However in order to fully succeed as an affiliate marketer you need more software to help you manage your programs. And of course the more software you need, the more money you spend on them and the more time you must put in to learn how to use them. Remember, like they say in America – Time is Money!
After researching, testing, tracking, making mistakes, I know what the crucial tools for your online affiliate programs are; and Simple Money Machines has all the tools you will need to succeed as an internet affiliate marketer.
Introducing the Simple Money Machines! It’s all the technology you need to make money online, rolled into one, simple, easy-to-use, hosted application. There is no need to hire the expensive webmaster or go through the long process of learning HTML, or FTP, or purchasing and learning multiple software packages, and then try to make all of them work together. It’s written in plain language and requires only simple skills. If you can point and click, then you’re already ahead of the online business money making game. Note: if you’re a technology nerd, then Simple Money Machines might not be for you.
The Simple Money Machines is the new platform technology that allows a totally non-technical person to setup a complete online business. There is no hosting accounts to setup and manage, no back ups to worry about and no software to update. You just login into your Simple Money Machines account and run your online business in no time.
The Simple Money Machines solves the problem and it includes accurate testing before going live on the Internet.
Here is just a little bit of what the Simple Money Machines includes:
•Auto-responder so you can capture email address, build your own list and send promotions. This is very important. Bear in mind that the money is in the “list”. It follows a set sequence of mailings, developed by you to ensure time promotion for your different marketing campaigns.
•Headline generator to create effective headlines
•Web page video to deeply increase conversions
•Webpage audio to increase site conversion
•Split-testing: allows you to track conversion
•Opt-In Page also known as a Squeeze Page. It’s a very great way to develop an email list.
•Traffic tracking software that lets you analyze the source and costs of different traffic options
•Credit card processing and tracking
•Dashboards to track and report visitors, conversions and financial results
I am not here to hide anything from you and I truly want you to have all the tools you need to start building a real home-based online business. Running affiliate programs is not rocket science. However without the right software in place to help you run your internet business effectively, you struggle and fight because of all the technology needed to help you keep things in more manageable way.
Go ahead and check out Simple Money Machines. It costs you less than a cup of coffee a day to give it a try. It comes with 3 or 10 machines that you can put to work right away and start making money in less than 30 days.
“Finally, a simple Internet Marketing Business in a-Box (Simple Money Machines) is available to show you Step-By-Step How to Make your first 50,000 thousand dollars online – 100% guaranteed. I have been using the Simple Money Machines for few months now and I am loving it. Find out more here:
http://instant-website.smmsite.com/1158
Article Source: http://EzineArticles.com/?expert=Ephigenie_Akayo
http://EzineArticles.com/?Simple-Money-Machines---The-Review&id=506283
Wednesday, April 11, 2007
Merchant Account Services
Payroll Cards Improve Direct Deposit Participation
By James Sayers
It has been estimated that 50 percent to 60 percent of employees paid in the United States participate in a direct deposit service offered by their employers for payroll funds. This is a growing trend as there are many benefits to employers and employees alike. Direct deposit involves a series of steps that culminates in the employee receiving wages electronically into their bank account, whether they are paid on an hourly basis or salaried.
For the staffing industry in particular, this trend poses a significant potential for savings as the volume of payroll checks for external staff is far greater than that of internal staff. For example, a staffing firm with 20 staff members may employ as many as 500 to 1,000 temporary employees per pay period. The costs associated with paying this many employees is on par with much larger organizations outside the staffing industry who, like you, strive to provide superior service at a minimal cost. By providing direct deposit to your employees, you will experience dramatic savings as well as improve relations with your employees by providing this valuable benefit.
Background on the Market
Over the past eight to ten years, we have all had experiences with either pre-paid telephone cards, gift cards or the omnipresent debit cards. These are all convenient ways to store money that can be utilized either by a specific individual or by the person possessing the card. More recently, the concept of payroll cards has been introduced as an alternative way to provide payroll funds to individuals. These cards are a fairly basic concept that may sound familiar. Load an employee's payroll funds onto a card that can then either be withdrawn from an automated teller machine (ATM) or used to purchase goods and/or services up to the amount associated with the card, just like a debit card. The card, once all funds have been used, can either be re-loaded with funds or discarded. Therefore, instead of an employee receiving a paycheck they receive payroll funds in an account via direct deposit and they are able to retrieve their funds through their payroll card.
The issuance of payroll cards to employees is not completely new. The U.S. government, for example, maintains several contracts among the four branches of the military to provide an efficient, electronic means of distributing funds to service men and women. This is particularly helpful when those employees are overseas or aboard ships where access to banks is limited or non-existent. By providing an electronic means of distributing funds, this eliminates the need for currency, coins, vouchers, money orders, etc.
In addition to the convenience of use, payroll cards offer an added level of security. Typically, the cards use a multilayered integrated chip, which controls access to the funds. The chip is programmed with a user key or personal identification number (PIN). Funds cannot be distributed without the use of the PIN, which only the cardholder knows.
From a much larger perspective, there are about 50 to 60 million people within the U.S. who do not have a traditional bank account. Many of these same individuals do not have credit cards either. We live in a culture that revolves around transactions; transactions that are, by design, quick and convenient. Individuals without a traditional bank account are unable to participate in a large amount of transactions such as general eCommerce, point-of-sale transactions, electronic payment to creditors, etc. Basically, anything where cash is not either accepted or a viable option is simply not available to these individuals. More importantly, individuals who do not possess a bank account are unable to participate in traditional direct deposit offerings.
According to the Federal Reserve Bank of New York, there are approximately 20 million users of these types of cards and that number is expected to increase to more that 49 million by 2008. Obviously, the trend towards a greater level of acceptance is growing. In 2003, these types of cards were used to make $42 billion in transactions. By 2006, more than $72 billion worth of transactions are expected. Experts have indicated that the industry is in the introductory stage of its life cycle, which suggests that there is still substantial growth potential in the near future.
Problems and Solutions
Currently, you may be offering a direct deposit solution for your employees. Direct deposit is a method of payment to your employees which electronically credits their checking or savings account or possibly both. This is a service that you may provide as a benefit to your employees who have been with you for a defined period of time. Even though it may be a benefit to your employees, it also provides a tremendous benefit to your organization. The benefits of such an offering include decreased processing time for payroll, increased security as the funds go directly into an account, reduced fees for stop payment of checks, no lost checks, decreased employee payroll issues, etc. According to the American Payroll Association (APA), these savings equate to approximately $2.00 per contingent employee per pay period.
Many firms have the desire to move towards a greater level of employee participation in direct deposit since the efficiencies are proven and dramatic. The reasons for both employee and employer to find value are obvious. But sometimes just encouraging the idea with your employees is simply not good enough. In many cases, it needs to be a policy of education and commitment to increase participation. However, this is assuming that all of your employees can participate in direct deposit. That may not be the case; take those employees who do not have a checking or savings account, regardless of education or policy, these employees cannot participate.
One new solution for firms desiring to increase employee participation in direct deposit is what is commonly referred to as Payroll cards. A Payroll Card is, in essence, just like direct deposit as funds are electronically deposited into an account that the employee can access. The major differentiator is that payroll cards can accommodate those employees who do not have bank accounts.
Major Benefits of Payroll Cards
For Employees:
Funds are immediately available in account
No approval needed; everyone is qualified
No check cashing fees
No waiting in lines to cash checks
PIN protected; which provides added security
Purchasing power through POS vendors
No lost checks
ATM withdrawal
No need to carry cash on hand
Funds are FDIC insured
Transfer funds
Pay bills online
For Staffing Company Employers:
Decrease cost of distribution of checks
Fills gap in direct deposit participation
Increases efficiency of payroll
Decreases potential check fraud and lost checks
Eliminates stop payment fees for lost or stolen checks
Timely payroll even when employees are away
Provides major benefit at minimal cost
Improves employee loyalty
Challenges for the 'un-banked' provide opportunities for better service
There are not many categories that you can split your employees into easily; however, one thing is true…either your employees have a bank account or they do not. Those employees that have a bank account are commonly referred to as 'banked' and those that do not have a bank account are referred to as 'un-banked' or 'self-banked.' For banked employees, in most cases, their bank will accept direct deposit of funds. It saves their financial institution money just as it saves your organization money.
Un-banked employees face many obstacles in managing their payroll checks. Simply cashing their checks may induce charges such as check cashing fees from the bank issuing the check or check cashing services. Many banks are now charging a $5 per check cashing fee to non-customers in an effort to decrease their operating costs and minimize teller transactions. The other option is to use a check cashing service, which may charge from two percent to seven percent or more. That translates to $5 to $17 a week for a $250 check. Both of these options are drawing significant fees just for the purpose of turning electronic funds into cash.
While for some this may be something worth paying for, it may be a major penalty to others who desire a different way of managing their money other than carrying cash around. On the employer side of the equation, there are significant costs as well. The cost can be associated with several aspects of administrative duties, including processing time of payroll, lost checks and their associated costs, etc. From the perspective of the employer's potential savings, there was a study conducted in 1999 by the National Automated Clearing House Association (NACHA), which indicated that an employer would save an average of $48 per year per employee by eliminating the process of generating paper paychecks.
From another perspective, there are many individuals that may have a bank account but may not have a credit card or, if they do possess a credit card it may be so close to the limit that making a transaction is not possible. Among individuals in the U.S. with credit cards, more than 40 percent are within five percent of their credit limit. That means that the credit provided by the card for a transaction has been basically exhausted. The credit card is then working like a debit card since the user must pay down the limit on the card in order to make a transaction. Making larger purchases requires a good credit score. Simply possessing a bank account does not necessarily improve a credit rating.
The credit-challenged need the opportunity to improve their credit scores. Tom Miezejeski, Vice President of Research for The PELORUS Group has indicated, "due to this situation, a possibility exists for a major shift from credit to debit cards. The potential intensifies when one takes into account the recent settlement by Visa® and MasterCard® with regard to processing debit card transactions, which could encourage retailers to promote debit cards at the expense of credit cards, thereby actually eroding the number of credit cards issued annually."
Understanding Payroll Card Options: SVC's or Bank Cards
In order for employees to participate in our growing, non-cash, transaction-based society and for employers to capitalize on these trends, there needs to be an option that will allow them to leverage the flexibility of electronic fund distribution. Payroll cards address this need head-on for both employees and employers.
There are a couple of offerings from vendors when it comes to payroll cards. The two main offerings can be categorized as either stored value cards (SVCs) or bank cards.
First, let's explore a stored value card. Just as it sounds, it holds a stored value of funds that has been associated with the card. Once loaded, or associated with a pre-determined dollar value, the card can be used to make withdrawals from ATMs. To better understand this option, let's look at the setup. The employer sets up one major account with the bank and each employee has access to what is referred to as a sub-account under that one major account.
With SVCs, the employer directs funds through the major account and each sub-account, and then maintains the balance for each individual employee. The employee does not actually own the sub-account; they only withdraw funds from that account. The employee is not able to participate in point-of-sale or retail transactions as one would with a true debit card or bankcard. Although the major account is FDIC insured, the sub-accounts are not individually insured. For example, the Federal Deposit Insurance Corporation (FDIC) insures deposits up to $100,000.00. That means that if there are 100 sub-accounts for the one major account, each one is only insured for $1,000.00. The employee does not have much protection in the event the issuing or sponsoring bank fails. Also, most SVCs do not provide protections under Regulation E, which provides provisions for fund replacement in the event of lost or stolen cards. VISA branded cards, i.e. bank cards, and offer zero-liability policies.
Bank cards are similar to SVCs in that each is loaded with a pre-determined dollar value and can be used for withdrawals from ATMs. There are, however, dramatic differences between these two types of cards. First, with a bank card the employee is able to participate in any point-of-sale or retail transaction as one would with a true debit card or bank card. Second, the employer sets up an actual account with the bank for each employee who then has access to the account itself whereas with a SVC, the employee is accessing a sub-account under a major account. The employer is responsible for directing funds to the individual account. Third, the employee actually owns the account and is able to build a credit history based on their use of the account which may lead to a greater level of financial independence. Finally, the individual account deposit is FDIC insured up to $100,000.00 and the employee can enjoy the protections issued under Regulation E.
Conclusion: Better participation equals better service at lower cost.
If your organization would like to increase employees' participation in direct deposit, the employees that do not have a bank account have traditionally not been able to participate. The un-banked employees now have an offering that will enable them to leverage the benefits of direct deposit. By providing a payroll card offering, these employees will be able to help your organization increase the percentage of participation in direct deposit. If you wish to encourage your employees (banked and un-banked) to participate in direct deposit, it is a matter of educating them on how to accomplish this and explaining the benefits in a way they can appreciate and understand.
For more information regarding VCG, or our WebPAS and StaffSuite products, visit http://www.vcgsoftware.com or call 800-318-4983.
About VCG, Inc.
Our focus is your success. Since 1976 staffing firms have counted on VCG, Inc. for staffing software solutions that help them improve the productivity and profitability of their operations. Founded by staffing professionals and technologists intimately familiar with the business of staffing, VCG is the staffing industry's largest and most experienced dedicated staffing software development firm. VCG solutions today power hundreds of successful staffing companies and 12,000-plus staffing professionals throughout the U.S., Canada, Europe, Southeast Asia, and Australia. VCG, C-PAS, StaffSuite, TempWare-V, WebPAS, StaffSuite WorldLink, and WebPAS WorldLink are registered trademarks of VCG Inc.
VCG Staffing Software
James V. Sayers is a Business Analyst with VCG Inc, the leading vendor of staffing software solutions. He has been with the firm for five years and has broad experience in staffing business operations.
Article Source: http://EzineArticles.com/?expert=James_Sayers
http://EzineArticles.com/?Payroll-Cards-Improve-Direct-Deposit-Participation&id=35699
By James Sayers
It has been estimated that 50 percent to 60 percent of employees paid in the United States participate in a direct deposit service offered by their employers for payroll funds. This is a growing trend as there are many benefits to employers and employees alike. Direct deposit involves a series of steps that culminates in the employee receiving wages electronically into their bank account, whether they are paid on an hourly basis or salaried.
For the staffing industry in particular, this trend poses a significant potential for savings as the volume of payroll checks for external staff is far greater than that of internal staff. For example, a staffing firm with 20 staff members may employ as many as 500 to 1,000 temporary employees per pay period. The costs associated with paying this many employees is on par with much larger organizations outside the staffing industry who, like you, strive to provide superior service at a minimal cost. By providing direct deposit to your employees, you will experience dramatic savings as well as improve relations with your employees by providing this valuable benefit.
Background on the Market
Over the past eight to ten years, we have all had experiences with either pre-paid telephone cards, gift cards or the omnipresent debit cards. These are all convenient ways to store money that can be utilized either by a specific individual or by the person possessing the card. More recently, the concept of payroll cards has been introduced as an alternative way to provide payroll funds to individuals. These cards are a fairly basic concept that may sound familiar. Load an employee's payroll funds onto a card that can then either be withdrawn from an automated teller machine (ATM) or used to purchase goods and/or services up to the amount associated with the card, just like a debit card. The card, once all funds have been used, can either be re-loaded with funds or discarded. Therefore, instead of an employee receiving a paycheck they receive payroll funds in an account via direct deposit and they are able to retrieve their funds through their payroll card.
The issuance of payroll cards to employees is not completely new. The U.S. government, for example, maintains several contracts among the four branches of the military to provide an efficient, electronic means of distributing funds to service men and women. This is particularly helpful when those employees are overseas or aboard ships where access to banks is limited or non-existent. By providing an electronic means of distributing funds, this eliminates the need for currency, coins, vouchers, money orders, etc.
In addition to the convenience of use, payroll cards offer an added level of security. Typically, the cards use a multilayered integrated chip, which controls access to the funds. The chip is programmed with a user key or personal identification number (PIN). Funds cannot be distributed without the use of the PIN, which only the cardholder knows.
From a much larger perspective, there are about 50 to 60 million people within the U.S. who do not have a traditional bank account. Many of these same individuals do not have credit cards either. We live in a culture that revolves around transactions; transactions that are, by design, quick and convenient. Individuals without a traditional bank account are unable to participate in a large amount of transactions such as general eCommerce, point-of-sale transactions, electronic payment to creditors, etc. Basically, anything where cash is not either accepted or a viable option is simply not available to these individuals. More importantly, individuals who do not possess a bank account are unable to participate in traditional direct deposit offerings.
According to the Federal Reserve Bank of New York, there are approximately 20 million users of these types of cards and that number is expected to increase to more that 49 million by 2008. Obviously, the trend towards a greater level of acceptance is growing. In 2003, these types of cards were used to make $42 billion in transactions. By 2006, more than $72 billion worth of transactions are expected. Experts have indicated that the industry is in the introductory stage of its life cycle, which suggests that there is still substantial growth potential in the near future.
Problems and Solutions
Currently, you may be offering a direct deposit solution for your employees. Direct deposit is a method of payment to your employees which electronically credits their checking or savings account or possibly both. This is a service that you may provide as a benefit to your employees who have been with you for a defined period of time. Even though it may be a benefit to your employees, it also provides a tremendous benefit to your organization. The benefits of such an offering include decreased processing time for payroll, increased security as the funds go directly into an account, reduced fees for stop payment of checks, no lost checks, decreased employee payroll issues, etc. According to the American Payroll Association (APA), these savings equate to approximately $2.00 per contingent employee per pay period.
Many firms have the desire to move towards a greater level of employee participation in direct deposit since the efficiencies are proven and dramatic. The reasons for both employee and employer to find value are obvious. But sometimes just encouraging the idea with your employees is simply not good enough. In many cases, it needs to be a policy of education and commitment to increase participation. However, this is assuming that all of your employees can participate in direct deposit. That may not be the case; take those employees who do not have a checking or savings account, regardless of education or policy, these employees cannot participate.
One new solution for firms desiring to increase employee participation in direct deposit is what is commonly referred to as Payroll cards. A Payroll Card is, in essence, just like direct deposit as funds are electronically deposited into an account that the employee can access. The major differentiator is that payroll cards can accommodate those employees who do not have bank accounts.
Major Benefits of Payroll Cards
For Employees:
Funds are immediately available in account
No approval needed; everyone is qualified
No check cashing fees
No waiting in lines to cash checks
PIN protected; which provides added security
Purchasing power through POS vendors
No lost checks
ATM withdrawal
No need to carry cash on hand
Funds are FDIC insured
Transfer funds
Pay bills online
For Staffing Company Employers:
Decrease cost of distribution of checks
Fills gap in direct deposit participation
Increases efficiency of payroll
Decreases potential check fraud and lost checks
Eliminates stop payment fees for lost or stolen checks
Timely payroll even when employees are away
Provides major benefit at minimal cost
Improves employee loyalty
Challenges for the 'un-banked' provide opportunities for better service
There are not many categories that you can split your employees into easily; however, one thing is true…either your employees have a bank account or they do not. Those employees that have a bank account are commonly referred to as 'banked' and those that do not have a bank account are referred to as 'un-banked' or 'self-banked.' For banked employees, in most cases, their bank will accept direct deposit of funds. It saves their financial institution money just as it saves your organization money.
Un-banked employees face many obstacles in managing their payroll checks. Simply cashing their checks may induce charges such as check cashing fees from the bank issuing the check or check cashing services. Many banks are now charging a $5 per check cashing fee to non-customers in an effort to decrease their operating costs and minimize teller transactions. The other option is to use a check cashing service, which may charge from two percent to seven percent or more. That translates to $5 to $17 a week for a $250 check. Both of these options are drawing significant fees just for the purpose of turning electronic funds into cash.
While for some this may be something worth paying for, it may be a major penalty to others who desire a different way of managing their money other than carrying cash around. On the employer side of the equation, there are significant costs as well. The cost can be associated with several aspects of administrative duties, including processing time of payroll, lost checks and their associated costs, etc. From the perspective of the employer's potential savings, there was a study conducted in 1999 by the National Automated Clearing House Association (NACHA), which indicated that an employer would save an average of $48 per year per employee by eliminating the process of generating paper paychecks.
From another perspective, there are many individuals that may have a bank account but may not have a credit card or, if they do possess a credit card it may be so close to the limit that making a transaction is not possible. Among individuals in the U.S. with credit cards, more than 40 percent are within five percent of their credit limit. That means that the credit provided by the card for a transaction has been basically exhausted. The credit card is then working like a debit card since the user must pay down the limit on the card in order to make a transaction. Making larger purchases requires a good credit score. Simply possessing a bank account does not necessarily improve a credit rating.
The credit-challenged need the opportunity to improve their credit scores. Tom Miezejeski, Vice President of Research for The PELORUS Group has indicated, "due to this situation, a possibility exists for a major shift from credit to debit cards. The potential intensifies when one takes into account the recent settlement by Visa® and MasterCard® with regard to processing debit card transactions, which could encourage retailers to promote debit cards at the expense of credit cards, thereby actually eroding the number of credit cards issued annually."
Understanding Payroll Card Options: SVC's or Bank Cards
In order for employees to participate in our growing, non-cash, transaction-based society and for employers to capitalize on these trends, there needs to be an option that will allow them to leverage the flexibility of electronic fund distribution. Payroll cards address this need head-on for both employees and employers.
There are a couple of offerings from vendors when it comes to payroll cards. The two main offerings can be categorized as either stored value cards (SVCs) or bank cards.
First, let's explore a stored value card. Just as it sounds, it holds a stored value of funds that has been associated with the card. Once loaded, or associated with a pre-determined dollar value, the card can be used to make withdrawals from ATMs. To better understand this option, let's look at the setup. The employer sets up one major account with the bank and each employee has access to what is referred to as a sub-account under that one major account.
With SVCs, the employer directs funds through the major account and each sub-account, and then maintains the balance for each individual employee. The employee does not actually own the sub-account; they only withdraw funds from that account. The employee is not able to participate in point-of-sale or retail transactions as one would with a true debit card or bankcard. Although the major account is FDIC insured, the sub-accounts are not individually insured. For example, the Federal Deposit Insurance Corporation (FDIC) insures deposits up to $100,000.00. That means that if there are 100 sub-accounts for the one major account, each one is only insured for $1,000.00. The employee does not have much protection in the event the issuing or sponsoring bank fails. Also, most SVCs do not provide protections under Regulation E, which provides provisions for fund replacement in the event of lost or stolen cards. VISA branded cards, i.e. bank cards, and offer zero-liability policies.
Bank cards are similar to SVCs in that each is loaded with a pre-determined dollar value and can be used for withdrawals from ATMs. There are, however, dramatic differences between these two types of cards. First, with a bank card the employee is able to participate in any point-of-sale or retail transaction as one would with a true debit card or bank card. Second, the employer sets up an actual account with the bank for each employee who then has access to the account itself whereas with a SVC, the employee is accessing a sub-account under a major account. The employer is responsible for directing funds to the individual account. Third, the employee actually owns the account and is able to build a credit history based on their use of the account which may lead to a greater level of financial independence. Finally, the individual account deposit is FDIC insured up to $100,000.00 and the employee can enjoy the protections issued under Regulation E.
Conclusion: Better participation equals better service at lower cost.
If your organization would like to increase employees' participation in direct deposit, the employees that do not have a bank account have traditionally not been able to participate. The un-banked employees now have an offering that will enable them to leverage the benefits of direct deposit. By providing a payroll card offering, these employees will be able to help your organization increase the percentage of participation in direct deposit. If you wish to encourage your employees (banked and un-banked) to participate in direct deposit, it is a matter of educating them on how to accomplish this and explaining the benefits in a way they can appreciate and understand.
For more information regarding VCG, or our WebPAS and StaffSuite products, visit http://www.vcgsoftware.com or call 800-318-4983.
About VCG, Inc.
Our focus is your success. Since 1976 staffing firms have counted on VCG, Inc. for staffing software solutions that help them improve the productivity and profitability of their operations. Founded by staffing professionals and technologists intimately familiar with the business of staffing, VCG is the staffing industry's largest and most experienced dedicated staffing software development firm. VCG solutions today power hundreds of successful staffing companies and 12,000-plus staffing professionals throughout the U.S., Canada, Europe, Southeast Asia, and Australia. VCG, C-PAS, StaffSuite, TempWare-V, WebPAS, StaffSuite WorldLink, and WebPAS WorldLink are registered trademarks of VCG Inc.
VCG Staffing Software
James V. Sayers is a Business Analyst with VCG Inc, the leading vendor of staffing software solutions. He has been with the firm for five years and has broad experience in staffing business operations.
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