Credit Card Merchant Account

Online Credit Card Processing And Your Hard Earned Money

2008-04-10T22:30:00.000-07:00

Credit card processing is very important in doing business online. Whether you are buying or selling, you require a reliable form for making or taking payments, a system you can trust to safe guard your hard earned money from internet thieves.

There are different modes of making and receiving payments online, but the favourite option for most online customers and sellers is the credit card, which necessitated the need for credit card processing companies, the very reason why people have overcome the fear of identity thieves.

Yes, in recent years, reliable credit card processing companies, also called payment gateways, have developed robust systems for receiving payments on behalf of clients 24/7 with minimal problems, providing a secured path between a customer's credit card account and the merchant account of an online business.

However, An online business should be careful while choosing a Credit Card Processing company as a payment gateway between it and its online customers, because business success online will greatly depend on the efficiency of their payment gateway companies.

In making a decision on which credit card processor to use, it is a first-rate strategy to utilize canvassing strategies, which comprises interviewing each credit processor so that only the best credit processor will be picked. Ask them about their fees, rates, and other special services that they provide their clients. Let them tell you why you should employ their services so that you can compare and choose the best amongst them.

The Online Buyer

The online buyer should also ensure that the credit card processor of the online business he or she intends to buy from is a reliable one on a secured server. The popular processing companies are usually the best.

Always reconcile your credit card account every month, the same way you would your bank account. Go over bills settled with your credit card and receipts, and query any charges for which you don't have a receipt or don't recognize.

Neshah writes for your success. He recommends Safe Online Credit Card Processing, the road map to making and receiving payments online and all the information you need to run your credit card without losses.

Minimize Your Credit Card Transactions - Process ACH Transactions for Your Business Instead

2008-04-10T22:29:00.000-07:00

What types of payments does your business currently accept? You?re probably saying cash, checks and credit cards ? why what else is there? Well have you heard of or though about accepting ACH transactions? If you?re wondering what ACH is and how to do it, continue reading this article and you will learn how processing ACH transactions will save your company time, money and simplify your business.

The Automated Clearing House (ACH) is an electronic network for financial transactions. ACH processes large volumes of both credit and debit transactions which are originated in batches. Some of the most popular ACH payments include:

Direct Deposit of payroll, Social Security and other government benefits, and tax refunds
Direct Payment of consumer bills such as mortgages, loans, utility bills, insurance premiums, and other forms of online bills
Business-to-business payments
e-checks
e-commerce payments
Federal, state and local tax payments

Businesses are also increasingly using ACH to collect online payments from their customers, rather than accepting credit or debit cards. Now is the time to think about doing the same for your business. Over the next few years, ACH will become a popular method for businesses to accept payments from customers or make payments to vendors because it is much cheaper than the standard credit card transaction fees. As an example, let?s say you?re currently paying 2.5% and 15 cents per transaction to your credit card processing company. If your average ticket cost is $100, you would pay approximately $2.60 per each sale.

Now let?s say that you?ve implemented ACH for your business and you now accept e-checks and/or direct deposits from your customers. On the same $100 ticket item, you would pay anywhere from 20 ? 50 cents depending on your ACH processing company. That?s a cost savings of $2.10 per sale!

It gets even better than that ? let?s say your average transaction was $1000, surprisingly you would still pay the same 20 ? 50 cent fee. That?s the beauty of ACH - they do not care how large your transactions are.

You can also easily make payments to your vendors using your ACH solution. Simply add your vendors bank account/routing number, enter the payment amount, submit your batch and whalah? your vendor is paid. And it?s even cheaper and easier then sending a check in the mail!

There are many companies that offer ACH payment solutions but most are manual processes. If you?re looking for a fully automated ACH payment solution, Hudson Horizons has can integrate an ACH solution into your website or application in a matter of days. They can have you accepting real-time ACH transactions and saving your company time, money and streamlining your business. Their costs are extremely reasonable and the solution is fully automated. The last I heard, their costs are $15 per month and 39 cents per transaction.

So as you can see, ACH is definitely the way to go. You can potentially save your business hundreds, if not thousands of dollars every single month by integrating an ACH payment solution for your business.

At Hudson Horizons, we provide website design, development, content management, e-commerce integration, RSS content distribution, search engine optimization, e-marketing services and the development of custom applications such as blogs, newsletter systems, online ACH payment solutions and any other Web application that may be needed to help simplify your business.

Hudson Horizons is an e-business product, solution and marketing company specializing in creating highly sophisticated customized websites, web-based software applications and providing e-marketing and SEO services for small and mid-sized businesses.

Our vision and ultimate ambition as a company is to always strive to be "The New Light for e-Business." By offering new, innovative and extremely competitive products and solutions to our clients, we provide better ways to run and operate a business online.

6 Credit Cards That Your Credit Card Processor Should Accept

2008-04-10T22:27:00.000-07:00

Nothing comes free in this world today, but to make it as convenient as possible more and more people are turning to credit cards for their choice of payment. Because of this, it is almost impossible to get by without a credit card processing system for your home business. All credit card processing software consists of different features and can handle various types of credit cards, which is why you have to research to find the most convenient system for you. Here are 6 different kinds of credit cards that you want to determine whether your software can handle.

1. Standard credit cards:

Pretty much every credit card processing system will be able to handle the basic standard credit cards. Credit cards that can fall under this category include low interest cards, balance transfer credit cards and reward program credit cards. All of the big name credit cards such as Visa and MasterCard are included in this group.

2. Cash back credit cards:

This is a unique type of credit card because of the fact that you can earn money by using it. The more times you use this kind of credit card, the more you will be rewarded. Rewards will vary, but it is common to see 5-10% cash back on purchases. Not all credit card processing software accept these cards, but some do.

3. Credit repair cards:

These are the cards that are for people with bad credit. It gives people a chance to still have a credit card but have debt consolidation and management. These are very popular to help build up people's credit history and can be accepted with many credit card processing systems.

4. Prepaid credit cards:

This is a form of debt card to help people stay within the amount they have in the bank. It protects people from credit card debt and allows them to stick within their budget, which is accepted by most credit card processors.

5. Business credit card:

The simplest way to put this kind of credit card is that it helps you keep your business finances and personal finances separate from each other. Almost all credit card processors will accept these kinds of cards as well.

6. Student credit card:

As you may have guessed, these cards are ideal for students are going off on their own for the first time and have no credit history. They will help protect students and stay within a budget without blowing away the little money they have.

As you can see, there is an array of different kinds of credit cards. If you want your business to have the best success, you have to be versatile and be capable of accepting multiple kinds of credit cards on your credit card processor. There is nothing worse than having to turn down business because you bought the wrong credit card processing software.

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 internet merchant services websites.

Credit Card Processing - Credit Card Factoring Solutions

2008-03-31T00:24:00.001-07:00

Credit card processing is frequently one of the most problematic and overlooked issues for a business owner. An effective credit card factoring program can reduce many credit card processing problems by implementing appropriate cost-reduction strategies. Credit card factoring improvements can produce dual business benefits by both eliminating credit card processing problems and providing improved cash flow by enhanced management of business cash advance programs.

CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS: Reduce Credit Card Processing Costs Via the Credit Card Factoring and Business Cash Advance Process

As I noted in an earlier business loan article, for any business that accepts credit cards as a method of payment, a business cash advance (obtained through credit card factoring) is a critical working capital financing tool that is often overlooked. Even thriving businesses frequently need more working capital than they can borrow from a bank. However, what is typically even more overlooked by many business owners is the opportunity to reduce their credit card processing costs at the same time that they obtain a business cash advance via credit card factoring.

CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS: Key Problems to Avoid with Credit Card Factoring and Credit Card Processing

Credit card factoring is an important option to consider when a business is seeking short-term commercial loans, unsecured business loans and improved approaches to credit card processing services. Unfortunately there are a number of problems to be avoided with credit card processing and credit card factoring programs. As with any successful business financing strategy, there will typically be only a small number of commercial lenders who are effective at implementing the joint tasks of credit card processing and credit card factoring strategies properly.

Because of this, the prudent choice of an appropriate provider of credit card processing and credit card factoring is extremely important to any business owner that accepts credit cards. To help demonstrate which providers of credit card processing and credit card factoring to avoid, I have written an article which identifies ten key problems which should be avoided with credit card factoring and credit card processing.

CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS: How to Obtain The Best and Lowest-Cost Credit Card Processing Services

For business owners either unhappy with their current credit card processing services or simply wondering if cost improvements are viable, a credit card factoring program which eliminates all of the ten key problems noted above should be considered. One of the primary reasons for evaluating credit card processing and credit card factoring in this coordinated fashion is that the low-cost producers of the best business cash advance programs will almost certainly be using the best and lowest-cost producers of credit card processing services. In many cases, the best and lowest-cost providers of credit card processing are simply not available to the average business owner other than as part of a working capital management plan encompassing both credit card factoring and credit card processing.

CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS: Cost Reduction and Improved Cash Flow for Successful Working Capital Management

Business owners should not lose sight of the substantial total benefits which might accrue to their business by effectively combining credit card processing and credit card factoring services. As noted above, cost reduction and improved cash flow are primary goals of successful working capital management, and the proper coordination of credit card factoring and credit card processing should accomplish both of these difficult goals simultaneously.

Stephen Bush is the CEO of AEX Commercial Financing Group, LLC. Steve provides working capital loan and church financing assistance throughout the United States. Information about free online Business Financing Reports and a free online Commercial Real Estate Financing Course is available at select AEX Commercial Financing Group, LLC websites.

Ever Wonder How Credit Cards Are Made? - Manufacturing Credit Cards: Materials And Processes

2008-03-31T00:22:00.000-07:00

The credit card is made of many plastic layers, laminated together. The center is commonly made from a plastic resin known as polyvinyl chloride acetate (PVCA). This resin is then mixed with other materials, such as dyes and plasticizers to give it the appropriate look and feel.

A variety of inks or dyes, in various colors, are also used for printing credit cards. These inks and dyes are especially made for use on plastic. Special magnetic ink is also available to print the magnetic stripe (magstripe) on the rear side of the card. The inks are made by dispersing metal oxide particles in the appropriate solvents. Card issuers, such as VISA, which have their own holograms, use additional special printing processes which are involved for cards, like VISA, with featured holograms.

The manufacturing of the credit card takes place in the following steps:

1. Plastic compounding and molding: The plastic for the core sheet is made my melting PVCA with other materials. This molten mixture is put in the appropriate molding equipment, and is flattened to the right thickness by passing it through rollers. This sheet is then allowed to cool down.

2. Printing: Each card sheet is then printed with text as well as graphics. Silk screening and magnetic ink printing are the processes used. The magnetic strip can also be created using hot stamping. Magnetic heads are used to code and decode the iron particles in the strip, so that relevant information can be stored in them. However, the magnetic particles can only be useful if they are on the surface of the card, therefore this step is performed after the lamination.

3. Lamination: Essentially, lamination protects the card, and improves its strength. Lamination is done on both sides of the card.

4. Cutting and Embossing: After lamination, each sheet is cut into a set of cards. Each sheet gives a yield of around 63 cards. The sheet is first cut into seven sections longitudinally, and then each of the seven sections is cut into nine cards. Each card is now a separate credit card, and will be embossed with account numbers, and other information. The cards are now ready for shipment to the cardholders! Each card has to be of the premium quality. Customers cannot be given cards which will break or be damaged after a certain period of time. Key quality issues are linked with the compounding of plastic and color matching of the inks. The American National Standards Institute has a standard for plastic raw materials (ANSI specification x4.16-1973). Ingredients have to be correctly weighed, mixed and blended under the proper temperatures and other manufacturing conditions. Similarly, the molding process must be scrutinized to avoid flaws and defects, which could cause the cards to crack or rupture. The final quality check is to make sure the right numbers are stamped on the cards through the embossing process.

The many evolving technologies in this area will help create the credit cards with better quality and make them more cost effective in terms of manufacturing. New generations of credit cards might carry integrated computer chips, containing a variety of valuable information, making the card more useful, as well as secure.

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 credit cards.

Requirement of a Credit Card Processing Service in Business

2008-03-29T01:48:00.000-07:00

Today more and more people are using the Internet and the number of older users is increasing fast. The internet is becoming an important source of news and information. With the popularity and widespread usage of Internet, the popularity of ecommerce business is also spreading like a wildfire.

To get by any ecommerce business or online business or set up retail storefront successfully, Internet credit card processing service plays a very important role. If your ecommerce business is still not laced with Online Merchant Account or credit card merchant services, consider getting one without wasting any more precious seconds. Only then you will conduct online ecommerce business successfully. Because Internet credit card processing service is the best way to process clients? payment online.

First of all we discuss about what online merchant credit card services are and how It work? An online merchant credit card services is a service that facilitates you to make payments or accept payments online for you. Online credit card merchant services work through online merchant account that is provided by a bank. These services allow you to make or receive credit card payments through Internet. Being laced with merchant Solutions services can be extremely beneficial and fruitful to your ecommerce business because it allows your visitors and customers to easily make payments.

Now we discuss about what Internet credit card processing is? It is a process of getting the authorization of a credit purchase when ordering online. Generally Internet credit card processing requires three components ? a payment gateway, an online merchant account and a credit card processing company. On the type of online merchant account it may also require various equipments such as; credit card machines, computers, hypercom terminal, pin pad and related software.

Now we describe in brief about merchant credit card services provider and choosing a reliable service provider. There are a number of merchant credit card services providers in the market. But you ought to take precautions before selecting one of them. Accepting credit cards can be risky and can you make suffering with paying high priced services on Credit card receivables terminal that your business does not in need of, and force to pay high monthly fees if precautions are not observed in choosing a reliable Internet credit card processing services provider.

A reliable Internet credit card payment processing service provider that is versatile in nature can assist your ecommerce businesses in increasing their sales. It offers security protection by using modern technology and assures you and your clients to be tension free for the duration of the transaction and when the credit card information is being processed. By hiring a good service provider you can accept all forms of payments and accept credit card anywhere and anytime. At last we want to say the always go with a good merchant solutions provider and appropriate equipments and related software.

Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Online Merchant Account Services like Merchant credit card services Now he is rendering his services to http://www.themerchantsolutions.com/

The Safe Practice Of Online Credit Card Processing To Collect Fees For Events And Conferences

2008-03-28T01:16:00.000-07:00

The safe practice of online credit card processing: 3 things event planners and their attendees should look for.

It's fair to say that chasing up payments is on the list of life's most tedious and time consuming tasks. The advent of online credit card processing (instant transactions), has somewhat alleviated this for event organizers who use it as a benefit of online registration. Credit card use however, already carries its fair share of anxieties and asking people to hand over their digits online... even more so.

The good news is that there are three simple things event organizers and those paying for anything online with a credit card can look for that signal safe practice.

1. Technical talk:

There should be a SSL (Secure Socket Layer) certificate installed on the server where credit card information is being gathered. This signals a secure connection between the webpage where you are entering your details (data) and the server. Look for:

The letter s after the http in the browser address, i.e. https://www/.
A lock or key icon in your browser. If you double click on this it should bring up the security certificate details.

2. An out: People breath easier and feel more comfortable committing to something if they can see a way out. The important thing here, for both event organizers and those handing over their money is that these conditions are clearly defined in print. This will help avoid disputes further down the track. Include on your registration form:

Whether full of partial refunds are permitted and if so the dates that apply. It's a good idea to ask that these requests be made in writing.
Make clear any fees that will be charged for the above, bearing in mind that the processing fee on a credit card transaction cannot be recouped and will need to absorbed by someone.
Flexibility, in offering alternatives to people who have paid for an event and can no longer attend (in lieu of a refund), such as being able to transfer their place to someone else or being given a credit to attend a later event free of charge (within a stipulated time).
Keep your policy wording simple, professional and kind, so as to avoid frightening anyone into not registering.

3. Human contact: The best way to alleviate concerns people have about paying with their credit cards online is to include the name, phone number and email address of the event organizer or person to contact if they have questions, changes or concerns.

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Credit Card Processing Security Concerns

2008-03-28T01:15:00.000-07:00

As an online merchant accepting credit card payments, you have numerous security issues that you must be aware of for the safety of your business and your consumers. At this time, there are two main aspects of credit card security for credit card processing, including ?AVS? and ?CVV?. Both allow credit card transactions to be completed anonymously over the internet, and any merchant accepting credit cards online should require both forms of information of your customers.

Address Verification Service

The ?AVS?, or address verification service, is used to determine that the address provided by a customer matches the address associated with a credit card account. This helps generate confidence that the person who is entering the credit card details is the person who owns it. While the AVS is not required to process credit card transactions, when it is provided the transaction processor will send a response back with details of how much of the address provided matches the address on the credit card.

A credit card will not be denied if the address is entered wrong, it is up to the merchant to decide what to do if the address only matches partially or not at all. You can deny the sale, or require the buyer submit additional information, or give them the opportunity to correct the address information, before processing the transaction.

Card Verification Value

The ?CVV?, or card verification value, sometimes referred to as the CVV-2 is a three to four digit number found on the back of American Express, MasterCard and Visa cards. It?s on the card but not on any statements, so that if an individual has found a credit card statement in the trash, they aren?t able to complete a sale that requires the CVV code for verification purposes. When a customer is able to enter the CVV code, it?s a strong indication that the customer has the credit card in hand, which increases the potential of the card belonging to the person who is attempting to use it to make a purchase online.

Most credit card fraud online occurs when a thief has found a discarded receipt or a thrown out credit card statement, but by requiring the CVV code, the merchant can eliminate that type of fraud.

If a CVV number is entered and is incorrect, the transaction will be declined by the credit card issuer.

Providing Consumers with Top Security

If you are going to accept credit cards online for payment for products or services offered through your website, it?s imperative that you provide your customers with a guarantee that you?re protecting their credit card information.

Credit card processing typically requires that the customer?s information is transferred about four times, which means there are four instances when someone could gain access to the cardholder?s details.
When a customer first sends the credit card information to you via your checkout or web based form. You are solely responsible for security as the internet merchant, at this stage in the credit card transaction process. Having a secure server and a valid security certificate with the https protocol will protect and encrypt private information you receive from customers.

You will want to be sure that the credit card transaction processing software you use for your business is secure by using a reputable processing company.
As customer information is moved in and out of a database through the transaction process, the security must be top of the line- and this is ensured by choosing a solid company that offers encrypted software for this part of the process.

Finally, when customer credit card information is viewed or handled by you or your staff, it?s important that you ensure security at this stage as well.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.

Third Party Credit Card Processors

2008-03-27T01:57:00.000-07:00

If you?re a small business or just starting out, you may not feel ready for a merchant account. Obtaining a merchant account is not usually considered difficult, however, for a newly established business it isn?t always feasible to run out and a merchant account immediately. Starting a business is often costly and risky to begin with- you do not need to go out and spend money on optional features (like a merchant account) until you know whether or not your business is going to succeed, and whether or not you?ll have the need to accept credit cards from customers.

Did you know there are other options and alternative methods for allowing your customers to pay you with credit cards? Companies called ?third party credit card processors? do not require their customers to create merchant accounts, and yet they can be used to allow small or new businesses the ability to accept credit card payments from customers.

Why Worry about Accepting Credit Cards at All?

It?s important that you are able to accept credit card payments from customers, however, even if you aren?t feeling up to getting a traditional merchant account right now. It?s been proven that businesses that except credit cards experience higher sales than those that do not accept credit cards. In fact, some companies have reported an increase of 50 to 400% in sales once they began accepting credit cards as a payment method. It also helps to establish a professional image- and for some potential consumers, it generates a feeling of trust. (?If the business is established enough to accept credit cards, they?re a quality business that I should shop with?!)

Home based businesses and online businesses can take advantage of a third party credit card processor instead of going directly with a merchant account if they wanted to. It allows a business to determine how many customers will make purchases with credit cards, as well as determine if more or higher sales come as a result of accepting credit cards as payments.

A third party credit card processor offers real-time processing online, online virtual terminals for entering manual transactions, no maximum limits for processing amounts in most cases, and the ability to set up recurring billing.

One of the advantages of using a third party credit card processor over establishing a merchant account is that instead of paying a transaction fee or a monthly fee, you pay a percentage of the sales (from 2% to 15%), and only when you actually make sales. Some merchant account providers require that you pay a monthly fee- even if you aren?t making any credit card sales. By starting out with a third party credit card processor, you can judge how many customers might use the option to pay with credit cards before you go through the process of applying for a merchant account and getting everything set up.

How do third party payment processors work?

Once you have an account with a third party payment processor, you?ll create links to your products that allow customers to order and pay with credit. The links send the customer to the third-party processing company?s server, and they handle the orders for you. Payments are processed by the company, and the sales are credited to your own business- less the third party processor?s commission. You receive your money from the third party processing company at established payment intervals. Typically, money owed to you from the third party credit card processing company is deposited automatically into a checking or savings account that you have set up for your business and linked to your account with the third party processor.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider

Credit Cards: Answers To The Approval Process

2008-03-25T03:13:00.000-07:00

Instant Approval, what does this mean?

This is where companies have already looked at your credit history before they have offered you a credit card. This means that you are in a position to accept their offer without having to go through the process.

Does this alter from an Instant Feedback Decision?

The fundamental difference between this and instant approval is that with instant approval they have already enquired about your credit history. With an instant decision this means they will get a decision out to you quickly.

How does instant credit relate to Instant Approval?

Instant credit means that you are able to go away and start making purchases straight away because the credit card has provided you with temporary account details. This is no longer a popular choice and the main reason for this is that it puts banks and credit card companies in a position where by they are vulnerable to credit card theft.

Are instant approvals safe?

Instant Approvals are safe because if you are visiting the website of a company that you have heard of, and the data being sent is encrypted then the risks are similar or less to using a postal service, however it is worthy of note that they are fundamentally different. To check if data is encrypted look in the address bar, and should this read https:// rather than http:// then your data will get to the intended recipient.

After instant approval, how long will it take to get my credit card?

On average this will be around one week or even less in some cases. We recommend that you visit the concerned website for more specific information from the provider that you have chosen to work with.

How should I use my credit card?

You should use your credit card as you deem appropriate, however we recommend that you follow a few basic ground rules. Firstly, never use your credit card for a purchase if you are not able to envisage where the money is going to come from to finance it. If for example, you are not able to increase your income or decrease your expenditure then you should probably consider alternative means of financing a purchase.

Should I use my credit card online?

Shopping with a credit card is probably the safest way to shop online. The reason for this is that when you shop with a debit card your bank will not cover any losses that you incur as a result of fraud or a lack of integrity on the part of the merchant. This is why you should always ensure that should you intend to complete a large scale online purchase or offline purchase for that matter, use a credit card rather than a debit card.

Devin Gilliland provides advice on how to apply for credit cards at Credit-Wisdom.com.

How To Understand Credit Card Processing

2008-03-24T01:54:00.000-07:00

Many people are aware that after they fill out a credit card application, it has to go through a few considerations on behalf of the credit card company, and that this is known as credit card processing. This process may seem to be a vague technicality for individuals who apply for a credit card, through which they will eventually learn if their application for the credit card will be approved or denied. By understanding specifically what happens during the credit card processing procedure, an individual can make sure that their information will be applied to a card that they will be more likely to get accepted when it comes to their application. If a person tries to apply for too many cards at once, they may be denied only on the basis that too many people or companies are accessing their credit file at that point in time. A person that applies to a bunch of credit cards all at once may be desperate about their financial situation and will apply for any and every credit card just to help ensure that they will be able to get some help. However, this approach may end up hurting the individual more than helping, and they may not be able to get any help from any of the credit card companies for which they apply. By understanding what is being looked at in the credit card processing state, an individual can more accurately ensure that they will be able to get a credit card by making sure that their personal information falls in line with what the credit card company is looking for in their candidates.

A credit score is a person?s rating based on the credit that they have accumulated over the years. The higher a person?s score is, the more likely they are to be considered a successful candidate for the credit card company and in return be issued a card. There are a number of things that will influence a person?s credit rating and even if a person does not know their exact credit score, they can generate a fairly accurate idea of what it would be by looking at the different things that generate the score. For example, making timely payments for other credit cards and bills will increase the rating. Missing payments will likely detract from the rating. Having more bills and credit cards and loans will make a person less likely to get another credit card, and this is especially the case when the individual has missed payments on any of these things within the last 12-24 months. There is one instance in the United States in which a person?s credit will not be affected. This is if a person misses a medical bill payment or has outstanding debt with a physician, hospital or other medical company.

The social security number will be needed as well. This is required to be valid and will be used in order to check the credit of the individual. Because of this, it is very important that the person be able to supply the correct and accurate social security number. If the name and social security number do not match up, the individual will not be able to get approved since the company will not be able to accurately research the individual.

Mario Churchill is a freelance author and has written many articles on various subjects. For more information on blue american express or to get a american express blue card checkout his websites.

How To Choose A Credit Card Processing Provider

2008-03-24T01:53:00.000-07:00

In order to accept credit cards either online or through your physical storefront, one of the things you are going to need is an account with a credit card processing provider. A Credit Card Processing Provider is a company that manages the interface between your credit card terminal or shopping cart software and the Visa/Master network.

Since you are paying a portion of each credit card transaction to your credit card processing provider, it is important that you fully understand the services that your provider offers and how much you are going to pay for these services.

The rate that you will be charged depends upon many factors including the type of product or service you sell and the amount of the average sales transaction. Using this information you can shop around to find a credit card processing provider that offers you the best value for the least money.

For example, if you sell mostly high-ticket items you may be better off finding a provider that will offer you a higher flat-rate transaction fee and a lower discount rate. It may be better for you to pay as much as a $1.00 per-transaction fee when combined with a lower discount if your profit margin can handle it. On the other hand, if you sell a lot of low-priced items, you are better off finding a provider that offers a very low per-transaction fee and a discount rate somewhere in the area of 2.5% or less.

Be Prepared To Pay A Penalty For Poor Credit

If your personal or business credit is below par, you are not going to be able to negotiate much in the way of processing and transaction fees. If that?s the case, look for credit card processing providers that work with people who are in your particular credit situation. But don?t go with the first one that makes you an offer. Even though you may not be able to negotiate, you can still shop around for the best deal.

Look For Technical Integration Issues

Your online ordering software needs to be able to communicate seamlessly with your credit card processing provider?s software through a program that is known as a ?Gateway.? Not all providers offer gateways that are compatible with all shopping carts. Make sure that yours is.

Evaluate Your ?Risk?

There are a number of credit card processing providers that will not do business with start-up companies or companies that serve certain markets such as the Adult Entertainment or Gambling industry.

Be prepared to pay higher fees if you are in those industries and be prepared to spend some time finding a credit card processing provider that is willing to serve you. The best way to find one that serves your industry is to check your competitors? sites and see which providers they are using.

Do You Need International Processing?

If your business has a global presence that requires you to handle credit card transactions from outside of your home country, you are going to need an international credit card provider.

Some merchants choose one provider for their domestic transactions and another for their international transactions since the fees are usually higher when the customer is from another country.

Your best advice is to shop around, read the contract carefully and completely before signing, and have your attorney and accountant review all of the paperwork before you commit. That way you?ll know for sure what you are agreeing to and you?ll have a much better chance of running a profitable business when you can control your credit card processing costs.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.

Get Credit Card Processing For Your Internet Business

2008-03-21T02:18:00.000-07:00

One of the best features of owning an online-based business is the amount of money you save on start up costs, and ongoing overhead in comparison to businesses with physical locations. Not only do you not have to pay high rental or mortgage payments for the space, but you save on utilities, business insurance, and even credit card processing accounts!

As an Internet business, you almost have a requirement to accept credit card payments for your products or services. Have you ever been to a website that doesn?t accept credit cards as payment? Consider how you would feel if you wanted to purchase something online but you couldn?t enter your payment details in the site- would you take the time to write a check, put it in an envelope and mail to the company or would you just find the next website offering the same products that DOES accept credit cards? Web sites that accept credit card payments have sales that are 50-400% higher than web sites that do not accept credit payments. It is so easy to get set up to accept credit card payments that there really is no excuse for an Internet business not to accept them!

As a web business, you have a choice. You can apply for a traditional merchant account at any of the local banks and hope to get accepted (and likely pay a set up fee and sometimes an ongoing monthly fee for having the service), or you can use one of the numerous card processing companies that operate online and are geared toward online businesses just like yours. Many of the card processing providers you can use online allow you to set up your website for accepting credit cards with no set up fees!

Merchants Providing Credit Card Processing

When you are just starting out as an online business, or you are a small business- you are probably not going to want any credit card processing provider that requires you process a minimum number of transactions each month. It is hard to predict what your minimum will be for a new business, and it might be better to pay a slightly higher per-transaction fee than to pay a higher monthly fee in exchange for a lower per-transaction fee based on a minimum number of cards processed each month.

Paynet Systems: Offers a variety of merchant accounts, with a few focused on Internet based businesses. You can get your account set up to accept credit card payments (ATM, and Debit also) for no set up fee. You pay a small monthly fee for the account ($8-10) and fees per transaction processed.

Merchant Express: Offers a merchant account for Internet businesses that can accept credit card payments in real-time. Your account with Merchant Express will also give you access to a free ?virtual terminal?, which will allow you to accept credit card payments by phone or mail as well as online.

Charge.com: Similar to Merchant Express in that it provides both a real time processor for web site orders, and a virtual terminal in case your customers provide their payment information via telephone, fax or mail. The software will automatically send you an email to help you fill the customer?s order once the card has been successfully processed.

There are many other providers that allow internet merchant account providers that can set your internet business up with the ability to accept credit card payments at no set up fee. Researching each company before signing up will help you compare the features and make sure you sign with a company that can provide you with the necessary options for your business and at the lowest fees.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider

How to Find the Best Merchant Account Credit Card Processing Rates

2008-03-20T02:07:00.000-07:00

Which would you prefer to do? Spend a bunch of money accepting credit cards through a great merchant account - or spend significantly less for a fantastic merchant account that boasts identical features and services?

Well, unless you have recently had a serious blow to the head, I am sure you would rather pay less for the identical features. Any sane person would agree.

Unfortunately, in the merchant industry, it is not always as easy as comparing "A" to "B". There are a plethora of diverse billing structures, charges, and fees that make it very difficult to understand just how one service stands up to another.

So why don't we see how to find, compare and choose the ideal merchant account for your unique small business...

To start with, you have to locate a minimum of 3 separate financial institutions - these could include a bank or credit union who can sign you up for their merchant account. Also, you should locate different merchant providers by utilizing Internet search tools that provide particular benefits. There is a standard approval procedure that both the banks and the merchant services use. The following information will be required in order to process your application:

1. A business plan that is feasible,

2. A credit history free of significant blemishes, and

3. Proof that you are able to pay (and have to ability to continue to pay) the charges related to a merchant account.

It of great benefit to you to research the ins and outs of the fee structure charged by each of your potential merchant services companies and/or banks that supply merchant accounts. There are many providers who fail to fully disclose their terms and conditions until you actually sign up for the account - so you might need to ask them for a copy of their "T&C". This way you are able to understand just how much it will truly set you back to use that account. In any case, make certain that you totally comprehend the terms and conditions before going with that company.

Things to look out for are:

1. Charges to cancel (how much, details, contract duration)

2. "Variable" or Introductory Discount Rates - the discount rate is the largest component in deciding just how much the true charge will be to accept credit cards. Make certain that the rate is single, locked-in, and non-changing. If it's on a sliding scale, or can be altered without notice - run, don't walk...

3. Free Equipment Offers - their return policies on the equipment are the most important to find out in this respect - for example, if the equipment is "damaged" at all, many times you are liable to substitute it at full market value - this can be extremely costly....

Now that you have that rudimentary information, to get the best possible credit card processing rates shop many different companies. The options are plentiful, and pricing plans and incentives are available for setting up a merchant account - each one highlights a specific facility. Finding out which one suits you the best is to your advantage. Some companies waive the installation fee, but others have a one-time overall fee and throw in other facilities at no charge. Each provider charges a discount rate, ranging from 1% - 5% and up, based on the type of account. A transaction fee, ranging from $0.05 to $0.25, is generally included.

If you want to get the best deal on credit card processing rates, you will have to do your homework well. Thoroughly search for the best priced terms and conditions - but make certain the company has a good reputation. You certainly don't want to get stuck with a company that is lacking in the customer service department, particularly when your money is on the line!

Things to consider when looking for a good merchant services company include your average number of transactions per month, your profit margin, your average order size, and number of times you will be taking credit cards from your customers. Obviously, retailers with a lot of volume will focus on lowering their discount rates and per-transaction fees as much as possible more so than their monthly fees. Conversely, small and micro-businesses with a bigger order size, but smaller transaction volume are able to be a bit more flexible with the discount rate and transaction fees. They turn their focus primarily on lowering monthly/minimum fees.

In any case, discuss the subject with your peers in your industry and contrast their opinions with the research into your prospective merchant providers that you have done on your own. Taking credit cards should be a good money making choice if you decide to use the right service.

Just be sure you double-check all those terms and conditions!

Chris Rempel, marketing director of Accept by Phone, just launched a "Lens" on Squidoo.com that lists the most affordable merchant account services available for small businesses...

Check it out: The Best Small Business Credit Card Processing Services

Evaluating Credit Card Processing Companies

2008-03-20T02:06:00.000-07:00

There are numerous credit card processing companies to choose from, each offering different features and fees. Choosing a company to process your customer's credit card payments can be a daunting task, and sometimes you'll experience difficulties both looking for a merchant account provider and then afterwards- if you make the wrong selection!

Many banks will deny small business applications for merchant accounts because they don't want to take the risk. Most small businesses end up going through third party providers who actually get the merchant account on your behalf; then apply their own rate structure to your transactions.

If you operate an online business, you'll need a shopping cart program of some kind- which must work with the system you use to process credit cards online. Unfortunately, if you go with a third party shopping cart rather than a custom written one it may not work with all credit card processing gateways. You really need to be sure that whatever shopping cart program you use on your web site works with the merchant account you ultimately end up using to process customer payments.

Accepting credit cards is not free! You pay the third party merchant account provider (or the bank if you are able to secure your own account directly with a bank that provides it) will charge you fees in exchange for the ability to accept credit card payments. The fees and rates you pay will vary depending on many factors, including how long you've been in business, the type of business you operate, your credit score, how much of your sales are processed by phone versus online, and the amount of credit card sales you process each month.

Some providers charge an annual fee in addition to a fee per transaction, while other providers only charge a percentage of each transaction processed. Typical rates for small businesses accepting phone and mail order payments are $0.10 to $0.30 plus 2 to 3% of the transaction amount. If the merchant account providers you are looking at want to charge over this percentage, be sure to check out a few others to see if you can get a lower rate before signing up. Sometimes, your credit rating will result in your having to pay higher fees- but it's worth shopping around a little to see if you can get a lower percentage rate per transaction.

When you're shopping companies looking for the best merchant account provider, make sure to compare all of the fees to see how much you're going to end up spending per each sale. You should also take into consideration what the application fee is (if any), how much you pay annually, how much you must spend on equipment needed to set up your account, and whether or not you must maintain a monthly minimum of sales volume.

Also compare how each merchant account provider allows you to withdraw your money- can you do it whenever you want or do you have to do it at specific times of the month or year? How long will it take to receive your funds once you've requested a withdrawal or transfer of the money? How does the provider handle charge backs?

Always read all of the forms and contracts associated with merchant accounts before you sign anything. Understand the terms for cancellation and what conditions the provider can cancel your account, as well.

The process for applying for a merchant account varies depending on the company, but you may be asked to provide a photo of your office (even if it's in your home) to verify you are in the location you say that you are. Some companies will want to send a representative to photograph your place of business. Occasionally, you'll be asked to provide a DBA or business license, your tax returns and profit and loss statements.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.

The Purpose of a Credit Card Processing Company

2008-03-19T03:11:00.000-07:00

If you want to accept credit card payments on your website, you need to engage the services of a credit card processing company. What these companies do is process the credit card payments that generate from your site including following through on approvals or denials so that your shipping department knows what to ship. The credit card processing company notifies the company by email when they have received an authorization from the credit card issuer as well as notify them if the sale is declined.

Using the services of a credit card processing company can save you a great deal of time because you will not have to worry about obtaining authorizations or making sure that the payments are credited to your bank account as your processing agent takes care of all of that for you. Of course, you will pay for credit card processing, but the extra sales you can make because of your ability to accept credit cards online will make it worth the cost. Without the ability to accept credit card payments, you limit yourself to the methods of payment you can accept, meaning you have to wait for your customers to mail a check or money order. The problem with this antiquated way of accepting payments is that your customer will not likely be receptive to it and will go elsewhere to shop.

You do not want to accept the services of just anyone who offers credit card processing, but you want to do some research and locate the one who best suits your needs. Each company has its own set of fees per transaction in addition to whatever the card issuer charges for the transaction fee, which is a percentage of the sale. In addition, you want to ,make sure that the credit card processing services meets your needs for volume and type of payment options you desire including debit card processing. After all, credit card processing is to help with your business, so the processing company you choose must be willing to work with you and develop a program that best suits your needs and those of your customers. They must be able to customize your services so that you have the most important payment options for the type of merchandise you sell.

Why bother with a credit card processing company? You could, realistically, bypass the credit card processing company and manually process your credit card payments, but it would take a credit deal of time. This would mean calling for authorization and filling out the forms and submitting them to your bank the way it was done before the Internet became a big issue. Even with the use of credit card terminals, a merchant had to close out his sales for the day, and write a deposit slip for send to his bank. Credit card processing has changed all of that, thus eliminating a great deal of time, effort, and paperwork on the part of the merchant. Saving time and money means more income potential for the merchant as well as more time to devote to the customers.

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 PS at www.unitedbankcardps.com

Jim Saka

How Wireless Handheld Credit Card Processing Can Save Your Business Time and Money

2008-03-19T03:09:00.000-07:00

If you are in a service business, how often do you invoice someone and wait 30, 60, 90+ days to get paid. How often do you never get paid? Many of you might already appreciate the benefits of accepting Visa/Mastercard, Amex, and Discover, but currently call in/key in credit card transactions. The fact that a physical credit card is not swiped is costing your business money. It is considered a higher risk transaction and your discount rate will be higher on a non-swiped card transaction. The solution that will save your company time and money is the wireless credit card terminal.

Wireless networks have evolved to the point where they are now very comprehensive and cost effective. The following list of professions could benefit substantially from wireless processing: plumbers, locksmiths, taxis, limo?s, pizza delivery, home parties, trade show participants, flea market merchants, contractors, electricians, snow plowing, lawn maintenance and photographers. The list is endless!

We all know that it is much more appetizing to spend a little more money when you use plastic. Credit Cards also make it more possible for an impulse purchase. For example, we are currently quoting an aerial photographer that takes beautiful pictures of homes in New England, then sells the finished product to the homeowner. A wireless terminal will surely increase his business and grab many of those impulse buyers that might not have purchased with cash on hand.

In closing, many industries could benefit from a wireless hand held credit card terminal. As always, do your research before purchasing and demand that your credit card processor educate you on all aspects of your contract!

Gerald Schiano is a consultant with United Bankcard of New England. He can be reached for a complimentary analysis of your businesses current credit card processing statement or a bid on new service. http://www.unitedbankcardlowrates.com, consult@unitedbankcardlowrates.com, http://stores.ebay.com/UBC-of-NE-Accept-Credit-Cards-Now 401-404-5600

There is a reason UBC is the sixth fastest growing private company in the INC 500. Great Service & Great Pricing!

United Bankcard of New England is a proud Agent for United Bankcard a registered ISO/MSP of First National Bank Of Omaha

Merchant Account - Credit Card Processing for Your Business

2008-03-18T02:32:00.000-07:00

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 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 con sideration 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

Does Free Credit Card Processing Exist

2008-03-18T02:31:00.000-07:00

Many 3rd party credit card companies boast about providing merchants with free credit card processing services. Tempting merchants with a free credit card processing service, they brag about accepting credit cards online on behalf of the merchants, with low processing fees, extra costs etc.

What the Free Credit Card Companies boast about

Many 3rd party processing companies say that they would provide merchants with:

* Least expensive ways to sell products online

* Easy way to earn profits

* Free credit card processing services without a merchant account

* Free credit card processing terminal

* Real-time acceptance of credit cards online

* Offering too-good-to-be-true referral programs

* Recurring billing and lofty affiliate management programs.

Free Credit Card Processing ? Long Term Benefits?

Free credit card processing might help businessmen promote their website and products for a while, especially if they are only just starting up, but there are no real long term benefits. Merchants initially don?t have to pay for secure servers, monthly gateway fees, credit card processing fees etc. However, the transaction charges are usually so high that merchants end up paying more than the average rate.

Setbacks of Free Credit Card Processing

There are many free credit card processing service providers who claim to give away free services. However, as always there is a catch! There will be payment processing charges such as merchant account registration fee, ?high risk? merchant fee, statements fees, monthly fees, wire fees and fraud prevention fees etc. What merchants can do to avoid becoming victims of such ?free? programs is to read the privacy policy and terms/conditions on the website for the certain program, or ask more experienced and trusted business owners regarding such companies. This will save merchants the hassle and loss liable to occur once trapped for the free credit card processing.

Credit card processing offered by some companies might initially be free but there are other hidden charges and setbacks which the potential victim might not know about, in such a situation only extensive research and precaution can help avoid one from becoming the next prey of ?free? credit card processing.

At http://www.instabill.com we provide our merchant account holders with the most reliable credit card processing services. Whether you have a high risk merchant account or an offshore merchant account, our credit card processors are safe, reliable and secure, that is why merchants worldwide trust us merchant account services.

Third Party Credit Card Processors Facts and Figures

2008-03-17T03:31:00.000-07:00

Doing business with a third party credit card processor can be a great alternative for anyone who is having trouble obtaining a merchant account or is considered a relatively small business. A Third Party Credit Card Processor has a merchant account and through agreement with him one can process credit cards through his account.

The Advantages of Using a Third Party Credit Card Processor

Third party credit card processors can let you start processing credit cards within 24 hours as to a standard Ecommerce merchant account where approval might take several weeks. If you need an offshore merchant account approval can take longer and not in all cases you are guaranteed to get approved. Third party credit card processors are a great alternative for a high risk merchant account due to the fact that they are much easier to obtain.

Rates and Fees Third Party Credit Card Processors Will Charge You

In most cases third party credit card processors will charge you a bit higher than the standard fees since they take all the risk. This might be a minor disadvantage however, if you didn't manage to get a merchant account I would think it is well worth while. Most third party processors will charge you anywhere from 3% - 9% commission on every credit card transaction obviously this depends on the type transactions you will be processing. The higher your volume will be the lower rates you will be getting naturally this is opened for negotiation and will be in effect only after your business has proven it's capabilities.

For more related information see our offshore merchant account page.

At Adjustcrcedit.com you can find all the information you need whether looking for a suitable merchant account provider for your business. Our web site also contains high risk merchant account related information for educational and research purposes

Credit Card Processing For 2007

2008-03-17T03:30:00.000-07:00

Now that we?re weeks away from a whole new year, it?s best that we have an idea what we should be on the look out for in the near future.

If you own a business, one of the first things you have to invest on is a credit card processing service. A credit card processing service that is versatile and reliable can easily help your company increase its sales by letting you accept any kinds of payment whenever and wherever.

Credit card processing services may include those swiperss that you see at the end of the line. They can also refer to a network attached to your computers therefore allowing you to accept payment through transactions over the web.

By getting the top-notch credit card processing service, you have access to an adept verification of payment from every major credit cards, debit cards, traditional checks and electronic checks.

Also, you will be able to conduct business the 21st century way ? fast. In a snap of a finger, transactions can be accepted at a given place at a given time. It can also be done online.

A high quality credit card processing service will also protect you from fraud cases and provide you with security protection through the use of modern technology. The businessman is finally at peace as he does a background check and credit card information.

With so many choices available, it is hard to pick a credit card processing service. But here are the top choices for the smart businessman:

1. Average Approval Rating
Applicants approve of this credit card processing service. Approval rates are referrals and accommodating services that are of high approval rate.

2. Cost Per Month
With a cheap cost, the credit card processing service even continue to keep the costs down. Since the competitive credit card processing company needs a low monthly fee, the advantage of the cost per month is that they are based on 500 transactions each month with only one statement.

3. Start-Up Cost
Credit card processing companies must not charge businessmen too much if they are just setting up a payment gateway and merchant account.

4. Account Setup Time
A credited processing service expedites applications and get their clients in the business as fast as possible. Some of them can even approve the application and fix up the account in a matter of days.

5. Customer Service
A good business is one that takes care of its customers. Customer services that are accessible can answer inquiries 24 hours a day, seven days a week. This service should offer a lot of contact methods such as phone, email or instant messaging. Make sure that response is quick.

6. Internet Based Features
Most credit card processing businesses offer more than one type of terminal as well as payment gateway and online merchant account.

7. POS / Swipers Features
The more variety your Point of Sale options and swipers have, the more available it is for your customers. This is a major requirement if your company operates from remote sales location and a retail business.

As a businessman, having a good credit card processing service generally increases your sales. Your company will also be more flexible, therefore giving your customers a lot of payment options. There are no limitations so that only means more clients for you and your company.

Mario Churchill is a freelance author and has written over 200 articles on various subjects. For more information on low APR credit cards or to find credit card offers checkout his recommended websites.

Ecommerce Credit Card Processing: The Fees

2008-03-13T03:26:00.000-07:00

For the uninitiated ? and even for merchants who have owned an internet business for years - the wide array of credit card processing fees that can be incurred in the operation of an ecommerce store can be a bit bewildering.

In this article, we?ll discuss most of the costs involved in maintaining an internet merchant account. Note that these fees are in addition to what you may have to pay as an upfront fee for the software required in order to set up your ecommerce facility (these fees can range from $50 to $200 usually, although nowadays some providers waive this fee altogether). You may also have to pay for a shopping cart, although this service too is now sometimes packaged as a freebie when you set up the ecommerce facility.

Here are the fees that merchants can anticipate having to pay on an ongoing basis in order to process credit cards via their website:

The most significant monthly fee you?ll be charged is what is known as the Discount Rate ? a percentage of the dollar amount of every sale you process through your website. Limiting ourselves here to internet merchant accounts for US-based businesses in non-high risk industries, you can presently expect to pay between 2.19% and 2.40%.

In fact, discount rates call fall into 3 distinct categories: The lowest of these rates ? the range quoted above - and the most commonly applied, is the Qualified Discount Rate which in the context of ecommerce retailing is where your customer "keys" in the card information in his computer?s browser, and the information he provides concerning his billing address matches that in the bank?s records (?AVS match?). Some companies charge up to 10 cents per transaction for the AVS service.

On occasion however you may be charged a surcharge on top of that. The Mid-Qualified Discount Rate will be added to your normal discount rate where there is no AVS match (usually an additional .75% to 1.25%). And a further additional surcharge (the Non-Qualified Rate) of from 1.5% to 2% may be levied where your customer makes his purchase using a foreign-issued card or where the card was issued to a company or the government.

Most providers will charge you a Monthly Minimum ? this is the least amount you?ll have to pay for the discount rate charges in a month. This is often $15 to $25 ? so you?ll always pay at least that much, even if you don?t process at all during the month. You?ll also most likely have to pay a monthly Statement Fee, often around $8 to $15.

A Transaction Fee is almost always charged ? here you pay a set amount for each transaction you process on your website, regardless of the dollar amount. Usually this is in the 17 to 30 cent range.

The other standard monthly charge ? and this applies only to ecommerce processing ? is the Gateway Fee, generally in the $15 to $30/month range. This fee is to cover the costs of connecting your website software and shopping cart to the transaction processing system.

We don?t have the space here to go into all the other fees you may come across in operating your ecommerce business, but we?ll briefly mention three of them here:

? a Chargeback (often $20 to $40) whenever a customer has a dispute about what you charged him, or whether you delivered the goods or services promised.

? a Programming Fee, if you are switching from one provider to a different one.

? a Cancellation Fee, where you sign a long term agreement and want out early.

So as you can see, there are a lot of different costs you can be hit with when running your ecommerce business. So before you sign with any particular company, have them give you, in writing, a complete list of all the possible fees they might levy against you. It pays to shop around.

Colin Albert operates The Merchant Account Explorer website, which offers advice and recommendations for merchants looking for ecommerce credit card processing solutions. The service enables business owners to comparison shop for the most suitable internet merchant account for their particular needs.

Make Sure Your Credit Card Payment is Processed!

2008-03-12T03:01:00.000-07:00

If you don't follow the credit card company's guidelines, they can wait up to five days to credit your account. The Fair Credit Billing Act requires that they credit your account the day your payment arrives, but some credit card companies demand you follow particular requirements, like sending your payment in a pre-printed envelope, in order to credit your account in a timely manner.

Even if you send your payment to your creditor on time, it could end up being late if you don't follow their rules. With the average late fee now on the edge of $40, you don't want that to happen. Here are three tips to make sure your payment is processed quickly and without hassles at all:

Pay The Minimum First

Pay the minimum as soon as you get your bill. This is very important if you are sending your payment through the mail. You can always send a larger payment later in the month when you have more money. Many credit card companies are ?red flagging? accounts on which the minimum is being paid every month, so add at least $5 if you can.

Moreover, and as a side note, you should never pay only the minimum on your credit cards if you want to reduce your debt. Interests contribute to accumulate debt easily. Start by paying as much as you can on the highest interest credit card and then continue with the next one. This way you?ll be able to become debt-free and worry less about your credit cards and their payments.

Be Careful with Checks

Be sure your check is legible and the payment amount is correct. Include the credit card account number on the check. Don't forget to sign the check. Common mistakes like not signing a check or illegible checks are responsible for many late payment fees that add up to already packed debts making things even harder for debtors.

The above precautions are very important. Credit Card companies won?t take any responsibility on this matter. If the check is wrong or illegible you won?t get additional time to pay without a penalty and this delinquency will be informed to credit bureaus. Thus, it is better if you make sure everything is correct or choose another payment method like debit from bank accounts.

Be Careful with Mail

Send payment with proper postage to the payment address requested by the issuer. Just to be on the safe side, mail your payment at least one week in advance of the due date. Ten days to two weeks beforehand is even better. If payments do not arrive, you will have time to try with other payment methods or even go personally to the credit card issuer?s offices and deliver payment on hand.

Mary Wise, a professional consultant with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders. In her website Badcreditloanservices.com you will find more useful tips and interesting financial articles on this and many other related topics. At http://www.badcreditfinancialexperts.com/article/ you will find more useful tips and interesting articles on this subject and other financial related topics.

Electronic Credit Card Processing

2008-03-12T03:00:00.000-07:00

The success of an online business depends on the process of accepting credit card payments. This type of payment permits you to attract both impulsive buyers and casual surfers alike. It also guarantees that you get timely payment.

Electronic credit card processing facilities handle orders directly through the Internet. This is normally a complex deal that needs the coordination of many things such as your website, your consumer?s credit card company, a payment gateway, and an account into which credits are deposited. Electronic card processing is safe and secure, and it provides the best customer service.

Three major types of electronic credit card processing are available. The first type uses a virtual machine that allows manual addition of mail. The second type involves a simple integration technique that links your site directly to the credit card and bank system. The third type uses a means for custom-linking your system to other more complex systems using a transaction gateway server.

Credit cards can be processed either in real-time or in a collective manner (batch processing). Electronic credit card processing generally has excellent real-time processing speed. The business is processed instantly and the consumer knows whether or not his card is accepted. But real-time processing has greater risk of fraud, since anybody can use a stolen card before it is reported stolen. Another disadvantage is that you cannot accept any order when the electronic credit card processor's server fails. Batch processing is ideal for smaller businesses. Here, many credit card transactions are processed jointly at a later time. The risk of fraud is moderately low.

Today, many companies offer fast, reliable and safe electronic credit card processing services. Each will work with almost all major credit cards, including Mastercard, Visa, American Express and Discover.

Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals

International Credit Card Processing

2008-03-11T02:06:00.000-07:00

International credit card processing refers to the processing of multi-currency credit card payments. This enables one to offer products and services in over 169 different currencies and receive payment for them in over 29 remittance currencies. Business firms can thereby expand their business into new sales regions and offer a payment routine to customers from different regions of the world.

Banks and their subsidiaries are permitted to issue International Credit Cards. A single card issued would be valid in all countries where dollar transactions can be made. An international credit card helps one avail of services such as air ticket reservations, car rentals, and hotel reservations abroad. Credit card plans also include insurance coverage for theft and fraud.

Processing an international credit card involves authorizing credit cards, withdrawing funds and placing funds in the merchant?s bank account. For this processing, the merchant needs an international merchant account. The international merchant account is an agreement between a credit card processor and the merchant that establishes the rules for accepting credit card purchases and transferring funds. A description of how it works would be appropriate in this context. Imagine that a merchant in USA wants to sell products to a buyer in Europe. The merchant uses the credit card processing company for sale of pictures. The products are sold to the buyer for Euro and remittance will be made in dollars.

Some international credit cards are American Express, Diners Club, Mastercard, Visa, etc. Processing of credit cards is done automatically using appropriate software program. The service of an international credit card processing company can also be utilized for processing international credit cards. The credit card processor provides the expertise and merchant account to help businessmen accept credit cards from buyers of other countries. These companies provide Internet merchant account also so that the merchant can accept credit card online. There are several companies that offer credit card processing services anywhere in the world.

Low Cost Credit Card Processing

2008-03-11T02:04:00.000-07:00

Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.

Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.

In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.

Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.

Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.

Mobile Credit Card Processing Equipment

2008-03-10T03:19:00.000-07:00

In today's business environment, credit card processing equipment is an essential tool for completing an online transaction. Compared to traditional credit card processing services, mobile credit card processing ensures faster payment, increases overall sales and credibility, and saves a lot of money. A well maintained mobile credit card processing equipment is a must for such transactions. Mobile credit card machines are useful for those merchants who like to take their business to the customers. The functioning of a mobile credit card machine is simple. By swiping the customer's credit card through the mobile credit card processing equipment, all the transaction processes are done automatically in real time. When the merchant gets the authorization, a printed receipt is given to the customer.

Mobile credit card processing equipment helps in accepting payments through online credit cards as well as by telephone. With its state-of-the-art technology, mobile credit card processing equipment provides a secure payment gateway that enables fraud screening and also real time reporting of every transaction. For an online transaction, only a virtual terminal is needed. This enables you to get all the services through the Internet.

Mobile credit card processing equipment has certain added advantages when compared to traditional wireless merchant accounts. They include low monthly charges, low processing fee and no monthly minimum processing charge. Today, the wireless mobile credit card processing equipment is the latest in convenience and portability.

Many business concerns sign a contract with mobile credit card processing equipment companies for their services. These contracts might be for 2 to 5 years, a fact which is often unknown to the firm. Consequently, if a firm needs to terminate a contract, a cancellation fee is charged by these companies. So care should be while choosing the services of such companies.

Small Business Credit Card Processing

2008-03-10T03:11:00.000-07:00

Credit card payment is one of the most popular payment options on the Internet. If you own a small business and do not have a merchant account, you might find it difficult to accept credit cards. However, it is advisable to find a means to accept credit cards on your website because it is the best way to expand your customer base. Moreover, the money transaction will take place within a week.

Small businesses can accept credit cards through 3rd party processors, who will handle the entire processing. For the small business community where cash flow is less or sometimes tight, this is a most welcome alternative. Credit card processing is not very cheap. A standard fee schedule for a small-volume account with less than 1,000 monthly transactions would be a start up fee of around $200, and monthly processing fees of $20.

If you have your own website, secure and encrypted connections are the foremost requirement you need for safe credit card processing. You should also have fraud prevention tools to prevent credit card scams.

Credit card processors whom small business owners can rely on are of several types; banks are the most dependable though. Third party credit card processing companies, independent sales organizations, financial service providers, etc. act as credit card processors. While there are several credit card processing companies, the two important factors that one should look at before setting up an agreement would be "price" and "customer service potentiality" of the credit card processors.

The merchant account provider you sign up with, might require an assurance that you have a thorough knowledge of your business environment, can identify the possible risks, know how to prevent or reduce fraud etc.

Third Party Credit Card Processing

2008-03-08T00:41:00.000-08:00

It is hard for a business entrepreneur to obtain an internet merchant account. An internet merchant account holder has to pay for a secure server, expensive credit card processing software, customer service fees, minimum transaction fees, monthly gateway fees etc.

If you are starting a new business, third party credit card processing firms can accept credit card orders on your behalf. For each transaction, the company will charge 3% to 15% of the sales price of each product. For setting up the service, the 3rd party processors usually charge a small one-time fee or sometimes provide free service. Third party credit card processing is recommended only in the starting phase of a business when cash is less and the products for sale are limited in number. Once the business is established and if your funds allow you to purchase an internet merchant account, it is wise to buy one. However, if your gross revenue is less than $650 per month, it is recommended not to set up a gateway/internet merchant account.

You can sign up for third party credit card processing by paying the prescribed fee if any, and get approval. Now you are eligible to create ordering links for your products. These ordering links go to the 3rd party processor's server and they will handle orders for you. The 3rd party processors provide ordering options, which include online checks, credit cards, telephone ordering option, etc. When a deal is through, you will easily get the money due to you, minus the transaction charges.

Third party processing is a great option for non-US businesses; however, if your revenue goes beyond $650 per month, a merchant account would be cost effective compared to 3rd party processing. It would be wise to consult an e-commerce specialist before you make use of this application of e-commerce for your business.

Credit Card Application Processing

2008-03-06T01:27:00.000-08:00

Credit card application processing refers to data capturing, checking and verification. Reviewing and processing of a paper-based credit card application normally takes less than one week. But an online application is processed in less than two minutes. Once sanctioned, it normally takes a week to 10 days to obtain your credit card. It is important to note that there are application processing fees.

A credit card application processing system is tailored to meet the needs of your application processing requirements. There are manual and automated application processing systems. Many banks and financial agencies use manual solutions for handling the application, billing, payment and other functions. But the manual processing has some disadvantages such as extended application turnaround time, nonsystematic means of credit decisions, and inconsistent credit limit.

Automated systems are designed to automate the basic application processing and sanction process for the credit card business. Several software packages are available for automated processing services. Their common characteristics of automated processing include handling of paper-based or web-based applications, data capture and validation, exporting of data onto credit scoring platforms, archiving and storage of applications, safe online review and approval processes, and a mailroom facility for accepting, de-enveloping and sorting applications.

Credit card applications are available on the Internet. Many sales executives also provide them. Filling out an application is not a difficult task. You just need to complete several fields for which you already know the details such as name, address, annual income, occupation, etc. If you fill out all the required information, then there is no chance of rejecting the application by the issuer.

The credit rating is the most significant part of the application processing. A credit rating is maintained by the credit card bureaus, and it depends on the information received from various credit issuers over a period of time. A bad rating results in the rejection of the credit card application.

Credit Card Applications provides detailed information on Credit Card Applications, Online Credit Card Applications, Student Credit Card Applications, Instant Credit Card Applications and more. Credit Card Applications is affiliated with Free Credit Card Offers.

Credit Card Processing Accessories

2008-03-06T01:26:00.001-08:00

Credit card processing accessories include a magnetic stripe reader, a keypad to enter prices and other information, and a small display. The printer can be either built-in or a separate unit. Traditional credit card terminals have different types of displays. Larger displays allow you see more information at once. Displays are usually measured in lines and columns. An 8 x 20 display has 8 lines of text in 20 columns. Backlit display is a standard feature in most new terminals. It lets you to see the terminal even in low light.

Keypads vary in size and number of keys. Larger keypads are very easy to use. There are many types of printers including dot matrix receipt printers, thermal receipt printers, and inkjet receipt printers. Credit card processing terminals are available with integrated fast thermal printer with automatic feeding system. Some of them have four users programmable function soft keys which help better interaction and built-in fast printer.

Credit card processing terminals are compact machines. Accessories such as integrated smart card readers, plug-in battery charger, and power cords are essential components. For virtual credit card terminals, phone or fax, software, computer, and internet connections are necessary. A credit card processing terminal that has a PIN pad can accept debit cards. Card reader cleaners and surge protectors are other credit card processing accessories. Printer paper, ribbons and ink cartridges, mounts and stackers, manual imprinters and imprinter slips, power packs, and cables are also indispensable credit card processing accessories.

There are a number of manufacturers who provide credit card processing accessories. They supply customers various quality solutions to suit their growing needs. Most of them are warranted against defects in material and workmanship for a period of years from the date of shipment.

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 Credit Card Processing Software.

Paynet Systems - Credit Card Processing & Merchant Account Services for less!

2008-03-05T01:36:00.000-08:00

Paynet Systems, headquartered in Atlanta, Georgia, is a registered Merchant Service Provider of Wells Fargo Bank, NA. Paynet Systems has assisted over 15,000 customers with their electronic payment needs. Our services include access to Visa, MasterCard, American Express, Discover Card, Diners Club, checks, and every major ATM card nationwide.

Paynet Systems affirms our dedication to our clients by combining our experience, services, and promise of Consumer satisfaction into a package providing overall savings without compromising the high quality service your business deserves. Our promise of Consumer satisfaction, achievements, and experience make Paynet Systems the clear choice.

Paynet Systems, Inc provides Credit Card Processing Services and Merchant Account Services to retail, wholesale, mail order, and E-Commerce businesses. By servicing all business categories, Paynet Systems is able to custom-tailor a program best suited for your specific business needs. Paynet Systems can enable your business to accept every form of payment available including Visa, MasterCard, American Express, Carte Blanche, Diners Club, checks, and every major ATM card network nationwide.

Merchant Services at Paynet Systems include access to all major credit cards and regional debit networks, cutting edge Check Guarantee Services with electronic deposit, and point-of-sale solutions that are priced not only to be competitive but also unbeatable!

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Nodus Technologies Makes Credit Card Process Automation Affordable for the SMB Market

2008-03-04T01:44:00.000-08:00

Claremont, CA, November 06, 2006 - Nodus Technologies, the leading provider of credit card process automation, state of the art Service-Oriented Architecture (SOA) e-commerce solutions, and retail chain management solutions, launched two new credit card packages for the Microsoft Dynamics market and announced a merchant services agreement with Comdata. The new packages, Credit Card Advantage Essential, and RMS Charge, provide credit card process automation at a dramatically reduced price.

Credit Card Advantage Essential is the first ISV product specifically designed and priced to support the new pricing announced by Microsoft for their Dynamics GP products. Companies that take advantage of the new Microsoft Dynamics GP pricing will get the benefits of Nodus' acclaimed Credit Card Advantage software for as little as $995.

RMS Charge is designed to extend the number of payment gateways and processors that Microsoft RMS/POS can support. With this low cost RMS Charge, customers can choose from a wide range of processors for their merchant account services.

"Nodus recently signed an agreement with Comdata that allows us to offer Microsoft MBS customers a no-hassle way to set up merchant account services at a preferred rate," said Simon Lam, COO of Nodus Technologies, Inc., "With the launch of these new products, Nodus is making the benefits of electronic payment automation available to small and medium size business which may have, in the past, found it difficult to justify the expense."

Nodus is the only "one-stop-shop" for credit card business process automation needs in the SMB market using Microsoft Dynamics GP. Recently, Nodus also launched a Merchant Account Challenge campaign to demonstrate how the company can save Microsoft MBS customers' money on merchant account services.

Nodus Technologies, Inc. is a leading provider of electronic payment automation software for small and mid-size companies. Nodus leverages Service Oriented Architecture and web services technologies to provide cost effective, comprehensive: e-commerce, electronic payments and retail chain management solutions for Microsoft Dynamics. For more info please visit http://www.nodus.com

Internet Credit Card Payment Processing

2008-03-04T01:43:00.000-08:00

With the widespread success of the Internet, you can almost make any type of purchase online. Whether it is your groceries, subscriptions for comics or magazines, the latest best-sellers, DVD movies or audio CDs, the World Wide Web has everything. You can virtually fit some clothes online. When you get the desired garments, just check them out in a virtual shopping cart and make the purchase.

You can buy songs and movies online. You can make donations to your favorite charities. You can contribute to the sites you frequent. Almost anything you need, you can find online. The only requirement is that you need to have a credit card on hand. But do you know what goes on whenever you place the number of your credit card on the blanks and check out of the virtual store with your purchases?

There are several processes that take place during an online purchase. Your virtual store would request for your name and your credit card number. The system in the virtual store can actually verify whether or not the credit card is owned by the name specified. This is an optional step though since not everyone uses their own card.

The transaction is then sent to the system of the credit card company for recording. It is important to note that currency is specified with the transaction since not all transactions made are in American dollars. As a security measure, some credit card companies would send you an e-mail to verify if you did make such a transaction. Be very careful when answering the verification E-mail. You can commit fraud by answering no even if you did make the transaction. If you do not respond after a certain period of time, your credit card would be suspended.

Payment Processing provides detailed information on Payment Processing, Internet Credit Card Payment Processing, Electronic Payment Processing, Credit Card Payment Processing and more. Payment Processing is affiliated with EFT Software.

Credit Card Processing Terminals

2008-03-03T01:01:00.000-08:00

Today, around 75% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payments facilities, surely it loses consumers and profits. Credit card payments are safe and secure, and also guarantee best customer service and convenience. Besides, these payments give more professional look to a business.

Manual credit card processing is very difficult task and also more time consuming. The finest choice is to computerize it. Different software provides a merchant account for instant processing, secure and encrypted secure socket layer (SSL) for safe transactions, and a web-based terminal from which to access your account.

Several different types of credit card processing terminals, also called Point of Sale (POS) terminals, are available in today's market. Terminal?s type and style depend upon the kind of business and style of credit card processing. Prices vary according to their functions and technology they use. Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals.

Most merchants prefer a terminal without an attached printer, while retail merchants need a credit card processing terminal with an integrated printer. There are also wireless machines which are selected by many mobile businesses. These are more expensive, but processing volume supports their cost. A wireless credit card processing terminal is mainly used for business that continually changes their locations (e.g., nonprofits which rely on fundraising events for donations). Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are other consumers of wireless terminals.

A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account. Some terminals can handle several merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and the Verifone Tranz 380x2. All terminals give retailers a fast, low-cost way to approve and process credit card sales. They also allow you reconfigure easily the existing terminals to work with your new merchant account.

Razal K Rasheed, I am a software engineer working with a reputed software firm located in Kerala, India. I am also doing the job of freelance SEO (Search Engine Optimization) and content writing jobs, which include website content, SEO content, press releases, news letters, articles, e-marketing pages, company brochures, blogs, training manuals, and all editing services. Email

The Credit Card Debt Consolidation Process

2008-03-01T01:34:00.000-08:00

Credit card debt consolidation is a process of taking all your bills and consolidating them in one lower monthly payment. Debt consolidation simplifies things because you no longer need to manage each individual payment. It also cuts down your interest payments, fewer late fees and miscellaneous charges. This process can also improve your credit rating. Your household budget also becomes a lot easier to manage. Credit card debt consolidation is definitely helpful if you know how to do it the right way.

For those who have never consolidated debt there are some tips that may save your time and money. The tips can be used as guidelines for credit card debt consolidation.

The first thing to start with is there are two types of credit card debt consolidation. One type is through a credit-counseling firm. These firms will help you by adding up all your monthly payments, then they have you pay this one payment to them. They then separate this money and pay it to creditors until you are debt free. When choosing you a credit counseling service you must be careful. They are companies in this field that will charge fees that are not necessary and you will end up in worse shape than before

A good way of selecting the right credit-counseling agency is to talk others who have already gone through debt counseling. The simplest form of debt consolidation is through a home equity loan. This is done by exchanging a secured debt for an unsecured debt. It is important to only take a loan only from single creditor because it is easier to pay one creditor instead of several creditors.

Credit card debt consolidation will save money in long term and will make your life easier to pay credit card debt...Continue

Credit card processing for your business

2008-03-01T01:32:00.000-08:00

There are innovative solutions available to all businesses and your business can profit from them. The invention of the credit card and credit card processing are said by some to be the best financial and business improvements for businesses made in the modern world. Customers no longer need to carry cash with them and therefore need not worry about the risks of losing or having that money stolen. The use of credit cards eliminates this risk.

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There are innovative solutions available to all businesses and your business can profit from them. The invention of the credit card and credit card processing are said by some to be the best financial and business improvements for businesses made in the modern world. Customers no longer need to carry cash with them and therefore need not worry about the risks of losing or having that money stolen. The use of credit cards eliminates this risk.

Nowadays, nearly all businesses accept credit cards. When you start a business, the first step to accepting credit cards is by applying for a merchant account. A merchant account will allow you to accept credit cards, debit cards, and all other forms of electronic payments.

A credit card processing merchant account offers flexible payment solutions to meet the specific needs of your business, whether you are an established merchant or are just starting out. A credit card processing company which offers merchant account services should start their relationship with you by analyzing the specific cost-saving and value-added services which best fit your needs. Merchant accounts are available to nearly all types of merchants, such as: retailers, restaurants, e-commerce, petroleum/convenience stores, and the service industries ? lodging, travel, trucking, and healthcare.

It?s difficult to decide which credit card processing service is best for your business. This is why there are several aspects you should pay attention to when trying to determine the most appropriate credit card processing service. Knowing about the average approval rating, cost per month, start-up cost, account setup time, customer service availability, the type of virtual terminals offered by the providers, the available POS equipment and the merchant account, can tell you a lot about the type of credit card processing services you will benefit from.

For someone who has no idea how credit card processing works, the entire transaction may look like a complex ritual. In reality, it isn?t very complicated: you swipe the credit card through a credit card terminal, input some numbers and money is retained in your bank account. It?s also about high-speed computer networks. When a merchant makes a sell, the card number, the amount and the merchant ID are sent through the credit card processing computer network to the credit card computer network. Each of them receives the transaction data. The first is represented by the company or bank that handles the credit card processing and the second by Visa?s network or other credit card network. The bank that has issued the credit card verifies if the client can pay for the purchase and the merchant receives authorization to complete the transaction. The money however doesn?t reach the merchant account at that moment. Only at the end of the business day, the entire sum is sent for processing and individual transaction are stripped out and sent to the banks. The sum is finally sent to the merchant that used credit card processing. The entire process is safe and secure and requires little effort for both merchant and client.

If you wish to have a reliable, versatile way to help your business receive verified payments from anywhere anytime, then a credit card processing service is what you are looking for. Your business will increase its sales because ?credit card processing allows you to accept all forms of payment, anywhere and to get fraud and security protection. Clients with any major credit card, with debit cards and with electronic or traditional checks will easily become your customers. Credit card processing enables you to conduct your business anywhere you want. Whether you are in a remote location with access to the web, whether you own a kiosk and have to manually enter information in such a device or prefer online business, credit card processing is ideal for any location. Most importantly, credit card processing allows safe handling of credit card information by utilizing modern encryption technology. You, as well as your customers, can use credit card processing services with peace of mind.

There are two things your young business should not lack: a merchant account and a credit card processing system. If you don?t have them, then you should because they make your merchant life a lot simpler and safer.

Amelie Mag

Merchant Credit Card Processing Tips

2008-02-29T00:25:00.000-08:00

Merchant Credit Card Processing Tips

Welcome to my Merchant Credit Card Processing Tips blog. Here you will learn about Merchant Credit Card Processing Tips.

When searching for a merchant account, credit card processing, you will find that there are thousands of companies who can provide you with service. All offering special deals that are better than other companies, at least that is what they say. So how do you know which company really will provide what they say? Answer, you don't. While researching for the best deal, you can only hope that everything in the merchant account setup process will be revealed to you, the merchant.

So how do I, the merchant, know what I am not being told? Hopefully, after this article, you will know what to look for when choosing a credit card processor. After all, why should accepting credit cards be so complicated? It shouldn't and withNational Processing Services, processing has never been easier.

First of all, know your industry. Know exactly what your selling, know your monthly sales volume, know your average ticket amount, and know you realistic goal for increasing your monthly volume in sales. This will help speed up the process and help processors know how to place your merchant account to meet your business needs.

Second, again know your industry. Find out if your are a high risk merchant or a standard merchant. Example, adult stores or websites are definitely high risk, while grocery stores are standard. This will change the merchant account process dramatically. It will also save you time. After 7 years in this industry, I have had hundreds of merchants not tell the whole story about there company and what they sell, just to have them declined because they were a high risk merchant. They had to fill out all of the necessary paperwork, and wait for approval, just to be declined and start all over again.

Third, understand that there is no such thing as a free account. All merchant accounts have fees and percentages taken off from transactions. Do some due diligence and find out how your rate varies from processor to processor. You will find quite a range. Also, don't fall for the rates that are way lower than the industry standard. Its simply not true. There are 2 factors when understanding the rates quoted to you by processors. 1: Processors have a "Buy Rate." A Buy Rate is the industries Visa/MasterCard rate. It is the lowest possible percentage a merchant can get for processing credit cards. 2: Rates are never given to merchants at Buy Rate. Reason, processors need to make money to stay in business. They have to raise the percentage above the Buy Rate to make money off of your transactions. There are also Statement Fees, a fee charged to the merchant for processing credit cards on a monthly basis. The merchant receives a statement showing the transactions processed, and the fees within for those transactions. The Monthly Statement Fee usually ranges from $8 to $10 a month. There is also a Monthly Minimum charge. The Monlthy Minimum is an amount set by the processor that requires the merchant to process enough transactions to equal at least the minimum amount, usually $25. If the merchant doesn't reach the Monlthy Minimum, then the merchant will owe the differnce of fees not processed to equal $25. Example, if a merchant processes $20 in fees during a month, then the merchant would owe $5 more at the end of the month to equal $25, the Monthly Minimum. Some accounts will have a Monthly Minimum, some will not. It all depends on the processor and the type of merchant account that you are setting up.

Forth, know what type of merchant account your company will require. There are 3 types of merchant accounts. 1: Retail Account, this tpe of merchant account is considered the most secure. You will receive the lowest rates from the processor. Reason, because the merchant is face to face with the customer. Cards are swiped 90% + of the time, and signatures are received by the merchant at the time of the transaction. The proecessor feels most comfortable with this so you the merchant get a low rate. 2:MO/TO Account, this type of account is mainly transactions received by phone orders, email, or catalog orders by mail. MO/TO means mail order/telephone order. Your rate will be higher for this type of account because your customer is not face to face. The processor sees a higher risk for fraud in this type of account so your rates are higher. 3: Internet Account, this type of account is exactly what it says. Transactions are processed over the Internet. This type of account is equivilant to MO/TO. You will have the same rates, because the customer is not face to face.

Familiarize yourself with these four basic categories and you should be much better equipped to understand and choose your processor. Please realize that getting a merchant account, or accepting credit cards is actually very simple, and there shouldn't be any worries about doing so. You will increase your income, and with understanding the basics of Merchant Credit Card Processing Tips, you will feel more comfortable with getting your merchant account setup. If you have any questions, please post them so I can help you, or you can go to my website and fill out your contact information, such as email, and I can help you that way.

Merchant Credit Card Processing Tips

Ideas for the future - credit card processing

2008-02-29T00:23:00.000-08:00

Maybe some years ago no one knew what a merchant account is, because no one needed one. But now, with the development of technology and the internet a merchant account is very important. This kind of account is necessary for any internet based business, because it's the only way to use credit card processing.

If you have an online business, like an online store, and you sell products and services to people all over the world, then you should get a merchant account. It's basically a bank account for the money used in transactions. Let's say you have an item to sell. Then the payment for that item goes into that account. An internet merchant account allows credit card payment which is safer and quicker. This modern way of dealing with money is very suiting for any business as credit card processing has taken online transactions to a whole different level. The old method used for purchasing something from a store situated at a certain distance wasn't really working because it was based on a lot of trust from both parts. This made room for frauds and distrust. The credit card option, on the other hand, solves these problems. All you have to do now when buying something online is write the data from your credit card and the money will be extracted and sent to the account of the store. This credit card processing has made people trust online stores a lot more than they did in the past. Thus business flourishes.

So why do you need a merchant account if you own an online store? First of all it's a matter of trust. You can offer your customer a complex and complete business. You offer the client a diversity of products, but you also offer different ways of payment. They can now choose. Even if a person wants to pay through the old check method, he should know that you can offer him the possibility to pay through a credit card. Even though a lot of people won't pay through a credit card it's advisable to let them now what kind of business you run. A first good impression is very important and, if someone goes online and looks through your store and sees everything you have to offer (the merchandise and the services), he will be pleasantly impressed and will buy again. This is how regular customers appear.

It's easier for the merchant as well because credit card processing does the math for you and leaves little room for mistakes. After all, the utility of credit card processing is huge. It will make life easier both for you and your customers. You won't have to receive checks and then cash them in. This takes a long time, but using a merchant account all of the money will be transferred to your account immediately and you won't have to worry about anything else.

If you think that getting a merchant account is difficult then think again. Even if your business is at the beginning and you don't have too much money, the banks that offer this kind of accounts usually have an aggressive approach. If they hear or see a newly opened business they will assault you with different offers to open a merchant account. You don't even have to look for a bank. The only thing you have to look for is the best offer. You shouldn't accept the first thing that comes your way because it probably won't be the best deal you can get. Take your time and search for the offer that suits your interests best. Choose only what you feel can take your business to the next level.

The credit card is the next step forward and, probably, in a few years cash will be obsolete. All the transactions will be made electronically without having to go to the store and physically buy something. Everything will be delivered to your door and you will pay with your credit card. This method truly works and the proof is right before your eyes. Developed countries help their institutions grow and many businesses now use credit card processing.

This is the future and we cannot deny it. People that won't be able to adapt to the situation will have the faith of the dinosaurs. Of course this is not a very close future, but it isn't that far either. So it's better to start earlier and get to know the situation than be swept away. That's why all business owners, real life or online, should get a merchant account and offer customers the possibility to pay electronically. All consumers should also get a credit card and start learning how to use it.

Keeping your business ahead of others' is a though job. Competition is fierce, but with the help of credit card processing and having a merchant account , you are on the right track to success.

The Bottom Line: Credit Card Processing Capability Depends on Credit

2008-02-29T00:21:00.000-08:00

When you apply for credit card processing capability for your website, there are a multitude of factors that underwriters take into consideration when deciding whether or not to accept your application. These factors include:

* The type of business you own
* How long you have owned your business
* Trends in your business earnings
* Trends in your industry
* Your collateral: machinery, equipment, property
* Your personal credit report

When a merchant's credit card processing application is evaluated, their personal credit rating is assessed and significantly affects the outcome of the decision. A poor credit rating may preclude an application from being accepted. But what does your personal history have to do with your business potential?

As far as your credit card processing application is concerned, everything. How you run your personal life is indicative of how you will run your business, helping the underwriters of your credit card processing application to determine whether or not you should be considered a risk. Everything that is included in your credit report is relevant information for the credit card processing underwriters. This information includes:

* Whether or not you made personal credit card payments on time or at all, over drafted your accounts, or filed for bankruptcy may indicate your ability to repay future creditors.
* Whether or not you have enough credit for your credit card processing underwriters to be able to satisfactorily discern your ability to repay debts.
* If you have multiple inquiries into your credit rating by potential creditors, this shows negatively as well. This means that others have decided you are a risk, which may indicate to your current credit card processing underwriters that they should decide the same way.

Research Your Credit Report

One way to make sure that your personal credit is an asset to your credit card processing application is to make sure that it is as high as possible before you send in your application. It is free for you to check your credit report with the three major credit agencies in the country ? Experian, TransUnion, and Equifax ? once every year. Staying up to date with your credit reports will let you know right away if there are mistakes due to inaccurate reports or identity theft. The sooner you find out, the sooner you can get started getting these things corrected and removed from your credit reports.

How To Raise Your Credit Rating

There are many ways for you to raise your credit rating if you feel that it is inadequate to get the credit card processing application results that you need. Some credit report improvement techniques take a great deal of time before they affect your credit rating. Others begin to improve your score immediately.
* Make sure that all your information is updated. Everything listed has an expiration date of seven years. It's up to you to make sure that seven year old issues are removed at that time. Also, just because you paid off a bill doesn't mean that the company reported this update to the credit reporting agency. This may be up to you.
* Pay your bills on time, every time. Every single late payment is listed on your credit report and negatively affects your credit score. This will directly affect your credit card processing application; it's a 1:1 correlation as far as how underwriters will predict your future repayment efforts when weighing the merits of your application.
* Don't apply for credit every time it's offered to you. If you are constantly applying for credit, most credit card processing application underwriters will assume that you are not managing your finances well. Keep enough credit cards to establish credit, but not so many that it's too much to handle. Three to five cards is plenty.
* Don't avoid credit cards and loans. You need a credit history to have a good credit history. Start early, make all your minimum payments and stay on top of your balances. If you go beyond your means, fix the situation as soon as possible.

The bottom line is that your personal credit reports and rating will directly affect the outcome of your credit card processing application. Maintaining the best credit possible will help you make the most of your business when it comes time to apply for credit card processing capability. And if worse comes to worst, there is an alternative solution. Many credit card processing companies allow a merchant to use a cosigner. Choosing someone with a favorable credit rating score may help you offset the negative effects of your own credit rating.

Credit Card Processing

2008-02-27T00:52:00.000-08:00

From : website101.com.

A merchant account is a special account with a bank that is a member of the Visa and MasterCard associations. Such a bank has been certified by Visa and MasterCard associations and can provide you, the merchant, with all of the services related to your merchant account. Once your merchant account is setup and "live" on the credit card system, you can accept credit cards from customers generally as follows:

* A customer presents their credit card for payment .

* Using their credit card number, you submit an electronic request to the processing network for "authorization to capture funds" from the cardholder's credit card account in the amount of the purchase. Traditionally, one would submit this request by swiping a credit card through an electronic transaction terminal provided by the bank.

* The processing network immediately receives your electronic request and determines if the cardholder's account is valid and if the funds are available. If they are, the processing network returns an electronic response to your terminal or computer. This response is called an "authorization code", and is your guaranteed authorization to capture the funds. Typically, this code is a six-digit number. The transaction and its associated authorization are stored in a "batch", where other transactions for that day reside.

* You print a receipt for the customer using the electronic terminal or your computer and the customer signs the receipt. As far as the customer is concerned, the transaction is complete. As far as you the merchant are concerned, there is one more step to complete the transaction.

* At the end of your business day (usually), you submit a final request to the processing network to go ahead and "capture the funds" that you obtained authorizations for during the course of business that day. This is called "settlement" or "settling your batch". This request is also submitted using the electronic terminal or your computer. The processing network immediately receives your response electronically and determines if the capture amounts contained in your request match the authorizations for each item. If so, the request is granted and an "Accepted" response is returned to your electronic terminal or computer. A settlement report can be printed showing the grand totals by card type (Visa, MasterCard, American Express, Discover, etc) for the settled batch. Note: any corrections to your batch, such as voiding a transaction, must be made prior to settlement.

* Within 48 to 72 hours (usually), the funds associated with the batch you settled are deposited electronically into your business bank account. Typically, the discount rate you pay to your merchant account provider are deducted from the deposit before it transferred to your bank account, resulting in a "net deposit" of funds.

* At the end of the month, your merchant account provider will mail a statement to you, detailing the credit card activity for the month and the associated fees you have been charged for such.

Credit card processing - how credit card works

2008-02-26T01:49:00.000-08:00

Nowadays, 80% of consumers use credit cards to pay for products and services online. If you don't have credit card payments facilities for your business, you are losing customers and profits. Customers prefer credit cards because they are safe, secure and easy to use.

The process that will check customer's credit card number, expiry date and other transactions related with credit cards is known as credit card processing. It can be achieved manually but this process is really difficult and more time consuming. The best option is to automate it. This can be done by using different types of software, buying or leasing other people's processing services or by writing a program/script.

There are different types of credit card processing software that makes merchant account more secure and improves processing speed. There three main types of online credit card processing are virtual terminal, simple integration method and advanced integration method.

A virtual terminal was used before the Internet age. A simple integration method makes direct link between your site and bank system and you can directly accept transactions through Internet. With the help of advanced integration method, you can link your system to more multifaceted systems.

The main benefits of these various systems comprises the ability to show all of your information from the internet without making manual transactions impossible, setting up recurring billing cycles and protection against fraudulent transactions. The businesses that accept credit card payments will improve their sales and profits exponentially. Accepting credit card payments makes a business look more professional and established. Credit card processing ensures optimal customer service and convenience.

The author presents the website on credit card processing http://www.123cheapcreditcardprocessing.com/ . It covers meaning of credit card processing, types and benefits of credit card processing. You can visit his site on http://www.getcheapcreditcardprocessing.info/

Credit Card Processing Machines

2008-02-14T03:12:00.001-08:00

From : usamerchantsolutions.com.

Every credit card terminal has different functions and capabilities, but all of them take some investigation for your needs and price expectations. The following is a list of different options available when considering credit card machines:

IPP or Internal PIN Pad: This comes with several different models and although a nice option, you should consider the fact that this terminal is passed back and fourth between the cashier and customer. Smartcard: Another great option automatically available on some terminals, but will you utilize this option? Smartcard is used for gift and loyalty cards and unless your business is going to utilize this option, you might want to consider a less expensive terminal.

Touch Screen: This option is more for the ease of use for the cashier, but usually gives you signature capture. Signature Capture allows your customers to sign the terminal screen instead of the receipt.

Wireless Capabilities: This allows you to accept Credit Cards through a wireless or cellular connection. Most of the time this is great for merchants who are making sales away from the office, but this can be limited by the cellular service in that particular area.

RS-232 Ports: This gives you the opportunity to attach other devices to your terminal such as a check imager or check reader.

PIN Pad Port: Allows you to add an external PIN pad to your existing credit card machine.

Now there is no set rules for what type of equipment to buy or what type of equipment your processor can support, so it's up to you, the merchant, to investigate what your best options are. Just remember, if you have any questions about equipment call your processor.

Credit Card Processors

2008-02-13T03:09:00.001-08:00

As per 2005 statistics released, on line trade grew more by more than 22% over previous year. To accept credit cards for online trade, you need a merchant account. Getting a merchant account is not easy for all. It does involve a lot of money. To solve this issue, another fast emerging choice is use of third-party factoring services, also known as credit card processors. These processors process third party orders through their own merchant accounts. A good processor provides a secure environment for sale, ensure that supplier fulfills the obligations of trade and ensure payment for the sale to the trader.

The growth of criminal methods on the net to steal information and rob off wealth is growing at alarming rate. To help these issues, these processors provide very valuable service to newbie merchants who can not afford own merchant account and are quite instrumental in fraud prevention as well as to protect the consumer interest. A good credit card processor instills a strong sense of satisfaction among consumers to protect their interests and thus at a nominal cost boosts the revenue of on-line trader.

A good processor has to be very stringent as they are answerable to their own merchant account provider. Too many dissatisfied customers or traders can make them go out of business. I came across a site, which very elaborately describes about various credit card processors. It would be a good idea to check from here.

One of such reputed and well established credit card processor is 2CheckOut (2CO), which is online distribution center for over 300,000 products and services. It provides a customizable transaction interface, multi-level customer service interaction, security features using SSL encryption network. One can get started immediately with no hassles of term contracts, additional equipment and can deal with any international suppliers, except for few prohibited products.

What does it cost?

Charges wise, it may not be cheapest one, but in terms of customers rating and appreciation, it definitely stands out. Initial set up charges include one time setup fees of $49. Besides, a commission of 5.5% per transaction and additional charges of $0.45 are levied. These transaction charges can go up on some classes of products. Charges for additional services are even higher. 2CheckOut supports 28 currencies for payment. For payments in local currency, if it is one of the supported currencies, wire option can be exercised at a cost of $5 per transfer. You can also choose to receive funds in US dollars at fees of $20 per transfer. These charges are definitely steep for small payments, but, 2CheckOut does give option to set a release level of payments and payments would be held till it reaches that level. Additionally, there are charges for stop payment of check and for charge backs.

However, being a processor with one of the lowest fraud rate, such steep rates also gel with market.

Payment to Suppliers

Generally all payments are made on 1st and 16th of the month, when all transactions that occur within 48 hours of this period will be processed, and payment remitted. However suppliers with sales volumes of over $1,000 a week qualify for weekly transfers.

Types of Products

A supplier is not allowed to sell certain types of goods as adult content, firearms, ammunition, tobacco products and multi-level marketing etc.

Protecting Consumer Interest

Protection of consumer interest is basically in own interest of a credit card processor to be able to stay in business. As the terms of agreement with 2CO, a supplier agrees to readdress all the customers complaints addressed to him directly or through 2CO, to the satisfaction of customer, proficiently and harmoniously.

To protect interests of sellers, it reserves the right to impose limits on purchase of products by specific buyers for any reason, in its sole discretion, as it may deem fit.

Payments on an account are made after 2CO's verification processes it also holds money from suppliers account to protect buyer's interest. Generally a 5% of the gross sales are kept as reserve for at least 90 days would be held and in some cases the Reserve is retained at a higher rate for period exceeding 90 days.

It has a provision for refund and charge back too. Either 2CO or supplier may ask for reversal of transaction leading to refund and return the funds to a customer's account. Credit card issuing bank may dispute the validity of transaction through the given credit card either on its own volition or on instruction of its clients and initiate reversal of funds transferred. This is called charge back. In such cases, where supplier feels victimized, he may opt to initiate a dispute and seek assistance of 2CO. 2CO would assist by way of providing any documentation that supplier may need and would charge a fee of $14 for each such dispute that supplier decides to contest.

2CO service has been rated as wonderful by most users. The only suggestions for improvement would be more in depth sales reports and the ability to have custom form fields on. It has reputation of being a company that enables businesses to receive funds from businesses and consumers internationally with zero fraud and at a much lower cost than traditional wire payments.

In fact if you are a victim of such credit card processor, you must immediately take steps, which have been very lucidly here. Do follow them; I am sure these would come handy.

R.S. Chawla owns b2bLounge.com - Global Online Trading and is Professional Accountant from India, now settled in Canada.

Deferred Credit Card Processing

2008-02-13T03:08:00.000-08:00

From: merchantseek.com.

If you defer credit card processing, you cannot fill the orders immediately. So, this processing method is more suitable for businesses that cannot deliver their goods over the Internet.

The advantage of using deferred processing is that you can inspect your orders manually, and correct them before you ship the order. For example, a customer called you and told you that he is from a non-profit organization, and arranged a 20% discount on his purchase. He can still use the order form, and then you can correct his order. You can do any discounts or surcharges for any orders, or otherwise edit the orders, before you process them. Real-time processing doesn't provide this convenience.

When order cards are processed, the credit card issuer's network may be down. This is especially true, if your customers are in China, Brazil, or other distant countries. In these cases, the credit card processor returns the 'CALL CENTER' answer, which means that you must call the center to authorize the transaction. If you do real-time processing, these transactions will be reported to the customer as declined. Not only do you loose a sale, but the customer may be confused by the answer.

Deferred processing is much cheaper than real-time processing because you do not have to pay anybody for any special processing. All you need is a credit card processing software, which you can buy for $350-400. You can use this software for both Internet and phone orders, which is a big advantage. You do not incur any additional costs for processing. The orders are delivered to you by your storefront software and then processed. However, deferred processing requires daily attention because you need to download your orders and process them every day. This may be just a single mouse click, but it needs your attention every day.

If you use deferred processing, the orders stored on the server must be securely encrypted. If the orders are just e-mailed to you, then anyone with administrative privileges on the server can read the orders and steal card numbers. So, before you use the system, ask your ISP or storefront software vendor how the orders are encrypted to secure the orders against hackers.

It is not easy to decide which method is the best for you because you have to choose a storefront software consider integration issues. at the same time, and We will talk about storefront software in one of our next issues.

A Good Credit Card Processing Service?

2008-02-11T04:33:00.000-08:00

It's hard to determine which credit card processing solution is best for your business with so many choices available. Below are the criteria Top Ten Reviews used to rank credit card processing services:

Average Approval Rating - This criterion, usually evaluated by percentage of approved applicants, refers to its approval rate, the processing speed and the fee to apply. An accommodating service will have a high approval rate and process your application quickly and without a fee.

Cost per Month - A low monthly cost helps keep overhead costs down. A competitive credit card processing company will require a low monthly fee with clear communication about ongoing fees and costs. Our ratings are based on 500 transactions per month with one statement, charge back and gateway fee.

Start-Up Cost - Credit card processing companies shouldn't charge you too much to set up a merchant account and a payment gateway.

Account Setup Time - A competent service will expedite your application and get you in business as quickly as possible, some can approve the application and set-up an account within a days time.

Customer Service - Accessible customer service answers inquires 24 hours a day, seven days a week. The service should offer many avenues of contact including telephone, email or instant messaging and help should be quick to respond and provide useful information. Internet Based Features - Most companies offer more than one type of virtual terminal as well as an online merchant account and payment gateway.

POS/ Swipers Features - A variety of Point of Sale options and swipers (card readers) should be available through the service. This is especially important if you are a retail business or operate from remote sales locations.

With a good credit card processing service, you can increase your sales and flexibility and give your customers many payment options

Wireless Credit Card Processing Equipments

2008-02-11T04:32:00.001-08:00

Wireless terminals provide mobile merchants, such as taxi drivers, transportation and delivery services and merchants who sell at trade shows, sporting events, swap meets or other mobile venues with a mobile commerce payment solution. Be sure your transaction processor offers merchants on the go secure, reliable transaction processing with a top-quality wireless point-of-sale terminal or specialized payment software used with a PDA or other handheld device. And make sure it has:

* Ability to process secure ATM/debit card transactions.

* Support for Address Verification Service.

* Purchasing card capability.

* Electronic benefits transfer (EBT) capability.

* Integrated network modem (and the capability to support additional networks).

* Built-in thermal printer with drop-in paper loading.

* Support for debit, credit, charge and stored-value cards, as well as loyalty programs.

* Ability to connect to peripherals, such as bar-code wands and check readers, through an RS-232 interface.

* Easy-to-read backlit LCD display that supports non-English fonts.

* Long-lasting, rechargeable battery pack.

Wireless Credit Card Processing

2008-02-09T02:02:00.000-08:00

New credit card processing options are available to telephone and mail order merchants that make it easy to do credit card processing by phone. A wireless credit card reader makes it easier for mobile merchants to obtain authorizations from remote locations than ever before. In most cases wireless credit card processing is even faster than for traditional landline transactions. Dedicated networks have been developed for wireless credit card processors of all types, which can transmit and receive data faster than most cell phone networks. Wireless credit card processing increases sales, saves time, and reduces operating expenses.

* Wireless is small, lightweight, and portable. Can carry in your pocket!
* Can accept cards where it previously was impossible (in a parking lot, outside a sports event, etc.)
* No second phone line needed and no need to rent phone lines at tradeshows.
* By swiping credit cards you get lower rates. This one feature alone can save you hundreds of dollars per month.
* Reduces risk. Swiping reduces chance of fraudulent or stolen card being used.
* Increased security. Wireless processing reduces the amount of cash you and your staff handle.

How a wireless credit card processing works?

1. The merchant slides the customer's card through the wireless credit card machine and enters the sale amount. Using a technology similar to a cell phone, the terminal will connect to a radio tower and send the credit card information and amount of the purchase.
2. The transaction information will be routed to Merchant account's processor.
3. Merchant account's processor will pass that information onto the bank that issued the credit card. The issuing bank will check to see if the card is valid and if the amount requested is available on the card, and set aside the amount of the purchase for the merchant.
4. The issuing bank will send back an approval number or a decline message to Merchant account's processor.
5. The information will be passed back to the mobile credit card machine, which will print a receipt for the customer to sign if the card is approved. It will take approximately 8-12 seconds to complete steps 1-5.

At the end of the day the merchant may manually "settle" their terminal which will begin the final process of the transaction. In most cases Merchant account's processor can automatically settle the transactions at a specified time each day. Once the settlement process is initiated the funds will be transferred from the card issuing bank and Merchant account's processor will electronically deposit them into the merchant's checking account. It typically takes two business days from the time of the original transaction for the funds to reach the merchant's checking account.

Online Credit Card Processing - Standard Routine

2008-02-08T00:19:00.001-08:00

Online credit card processing is the processes that will check your customers credit card number, expiry date etc., withdraw money from his/her account and deposit it into your account.

It can be achieved manually, but this could get extremely tedious and also take too much of your time. The best option is to automate it. This can be done using different types of software, buying or leasing other people's processing services or by writing a program/script yourself. The process works as:

1) The consumers complete their orders via the merchant's web store. This should be done on a secure web page so that the consumer's personal information including banking information (credit card or check) is encrypted so that it can't be intercepted and read by third parties while being transferred over the internet. Secure pages should always be used while handling credit card processing online.

2) The shopping cart program on the web host computer gathers the order information, compiling it into a form that the credit card processing company expects.

3) The shopping cart transmits the formatted order from the web host to the credit card processor (payment gateway). The credit card processor checks that the information it received about the order to be sure it has everything it needs to continue processing the transaction. It then determines what company manages the customer's credit card and transmits a request for the card to be charged.

4) The customer's credit card company validates the card and the account. If everything checks out correctly and the credit card is clear for purchases the credit card company sends an acknowledgement back to the card processor that the amount requested can be transferred. If the credit card company denies the charge it sends a code back to the credit card processor indicating what the problem was.

5) The credit card processor now tells the shopping cart program at the web host whether or not the transaction was successful (the shopping cart then can tell the customer whether or not the order was complete and send the order on to the merchant for delivery of the product or service). The credit card processor initiates a funds transfer (settlement request) to the merchant account company for deposit into the merchant's bank account that it has on record.

6) Internet merchant accounts collect the funds for a specified period of time and make scheduled transfers to the merchant's regular bank account and the credit card processing transaction is complete.

Start Online Credit Card Processing

2008-02-06T23:09:00.000-08:00

The savvy business owner who plans to accept payments on the Web must form an alliance with a online payment processing company. There are a multitude of firms to choose from, and one should exercise due diligence in the selection process to avoid those that are overpriced and/or do not engage in fair-minded business practices.

Among the payment processing providers, there are two distinct entities: ones that provide merchant accounts and others that proclaim themselves as "no merchant account" providers. The latter group accepts payments on the owner's behalf and offers a rather easy set-up. Payments are taken on their site (not the owner's), and owed funds are forwarded to the owner two or three times a month.

The order form, either supplied by the owner, his/her Web designer or the processing company, is simple to design.

Once created, it must be on a secure server. When any customer enters his/her credit card information, it is sent in plain, unencrypted text form to the server hosting the Web site. As it is possible to intercept this data, SSL encryption (usually 128-bit) must be employed. Many merchant account providers offer this secure server with official certificate. An owner who is going to use a payment processing provider should not have to spend money on obtaining this.

The gateway serves to transmit information from the customer to the credit card processor. At first, within seconds of the customer submitting his/her credit card information, the processor either authorizes the transaction or declines it. If an authorization code is given, the customer's account is not charged, but his/her credit limit is reduced. Subsequently, the approved customer's information becomes "captured" and the authorized amount of money is then charged to the consumer's credit card. This capture becomes part of the merchant's batch and travels through the gateway again. The processor then knows to finalize and settle the transaction, and voila, the owner is paid. So the gateway is actually the owner's gateway towards profit.

Many merchant account providers offer a shopping cart that integrates with their gateway. Even if the owner already has a shopping cart, chances are good that the gateway can work in concert with it. It is best that an owner look for a merchant account provider that can serve as a "one-stop-shop," providing its own secure server with certificate, gateway and shopping cart.

Credit Card Processing Services: Easy, Cheap and Necessary

2008-02-05T23:20:00.001-08:00

Your online business needs to accept credit cards. That's true whether your business is the next ebay or you're just selling your old collectibles on ebay. You're simply holding your business back if you don't accept the payment method of choice of the internet. Sadly, many people think they won't qualify for a new merchant account to accept credit cards, or that it will be too expensive or complicated. That might have been true a few years ago, but not anymore.

Why Anyone Can Accept Credit Cards

* Low cost. In the US, the cost of accepting credit cards is around $10-$20/month in flat fees, plus a small percentage of your sales, called a discount rate. For an offline business, the discount rate is as low as 1.69% (lower for debit cards). For an online business, discount rates are as low as 2.19%. Yes, online businesses are considered riskier and therefore are charged more. Still, 2.19% is much less than even many offline businesses were paying just five years ago. Non-US business will likely pay significantly more, but likely not more than a few hundred dollars a month and maybe a 6% discount rate. That's still a small price to pay to build a thriving online business. * No upfront fees. There are now merchant account providers that charge nothing upfront-no application fee, no deposit. (For US businesses only.) * No minimum number of sales. If you sell nothing in a given month, that's fine. Your account won't be cancelled so long as you pay a small minimum fee in lieu of transactions (usually around $25-$35/month). * Low credit threshold. Believe it or not, qualifying for a merchant account to accept credit card payments is easier than qualifying for a credit card account. Even people who have a bankruptcy on their credit report may qualify for a merchant account (though they'll be in a more expensive higher-risk category). The credit check only takes a few minutes. Just give the representative your Social Security number or EIN and you're done. For non-US businesses, the credit check might be a little more in-depth, but not impossibly so.

Why You Need to Accept Credit Cards

1. Prestige. Admit it: you can't be a real business if you don't take credit cards. At least, that's how the average consumer or entrepreneur sees it. 2. Trust. Accepting credit cards means your name, address, and social security numbers are on file somewhere with a bank, so you're a lot less likely to be a crook. It also means that your customers can dispute the transaction if you don't put out the goods. 3. Sales. Online customers make the vast majority of their purchases with a credit card. They are not going to change their ways for you. 4. Western Union isn't enough. Bank wires offer very little consumer protection, so no one trusts them for paying online. Besides, most people have never used it before, and again, they're not going to change their ways for you. 5. PayPal isn't enough. Some people simply don't trust it. There are entire websites devoted to horror stories with PayPal. Other prospective customers worry about having to set up a PayPal account to make payment. Even a slight doubt is enough to send many visitors to the "back" button. Don't leave room for doubt.

Why Accepting Payments Online Is Easy

* Easy-to-use gateway websites. With most merchant accounts, you get a login on a website of a "gateway" which lets you manage your entire account with up-to-the-minute information. It's very similar to online banking. * Technical support. Most merchant account providers offer telephone and email technical support to help you figure out how to use your account, including how to integrate it with your website. Tip: choose a provider with 24/7/365 technical support over the phone-and that doesn't charge an additional fee. * Preconfigured shopping carts and web payment forms. You won't have to do anything to your website if you opt to use a shopping cart of payment form that's already been set up by your payment processor. Just link to it from your website and you're done.

Why Applying to Accept Credit Cards Is Easy

* Online and telephone applications. You don't have to mail anything. * Fast. You can apply for a merchant account to accept credit cards in the morning and be taking payments in the afternoon. * No contract. Some credit card merchant account providers do not require an annual contract (for US businesses). The arrangement is strictly month-to-month. Of course, there are still companies that will try to lock you into a year-long contract, so be careful.

See how easy it is to take credit card payments? Don't wait any longer. Apply for a credit card merchant gateway today. It's easy to do, and your business needs it. Once you're taking credit card payments, you won't be be just like a real business-you will be a real business.Joel Walsh is owner of the website UpMarketMerchant.com. Get more information about credit card processing services: http://www.UpMarketMerchant.com

Third Party Credit Card Processing Vs. Having Your Own Merchant Account

2008-02-05T01:06:00.001-08:00

We all know that accepting credit cards is the key to online sales. Unfortunately, most merchants are unaware that acquiring a merchant account can actually save them money. And in many cases, big money!

For this experiment, we will use a fictional character named Bill. Bill owns and operates a great online resources for marketing tools and resources. Bills website is a membership based website, and therefore could potentially be approved for both third party processing and an internet merchant account. Bill starts off processing his business with a popular third party processor who offers him the following plan:

Start Up FeeNone
Monthly FeeNone
Transaction Fees 13.5% (Initial or One Time)
15.0% (Recurring)

Bills sets up his business with this popular third party processor and charges $30 per month. He has built an extensive reciprocal link exchange directory, has purchased some PPC advertising on a few of the best search engines, and has reached a excellent spot in the content based search listings for the top 5 search engines. His customer base has grown from zero before accepting credit cards, to 150 members, is just one month. Bill cant believe his success at internet marketing, and is planning on building even more web based resources and tools for his website, thus increasing the value and content. He is ecstatic at the initial results, so lets take a look at Bills numbers:

$30 (Per Membership Sold) x 150 (Memberships Sold)= $4,500.00

$4,500 x 13.5% (Initial or One Time Transactions) - $ 607.50

$4,500.00(In total sales)
- 607.50 (Total fees)
= $3,892.50(Net profit after all processing fees have been deducted)

Ok. Well Bill certainly had an excellent first month accepting credit cards with his new business venture. But lets see how Bill would have made out if he would have secured an internet merchant account for his new business:

Start Up FeeNone
Monthly Fee$15.00
Discount Rate 2.35% (Initial, One Time or Recurring)
Per Trans Fee.30 cents
Gateway Mo. Fee$15.00
AVS Fees.10 cents

Now the first thing we see is that the merchant account company is showing us more fees. This may be disheartening at first sight, but we should really explore what these fees are, and how they affect our bottom line.

Start Up Fee: This remains the same. Bill paid zero to get setup with his new merchant account, just as he paid zero to get setup with the third party processing account.

Monthly Fee: The third party processor offered us no monthly fees, yet we must pay $15.00 with the merchant account company.

Discount Rate: The merchant account has labeled one of their fees as discount rate. These fees are the fees Bill will pay as a percentage of each transaction. They are similar to the main fee charged by the third party processor. This fee when charged by the merchant account company is substantially smaller than the high percentage charged by the third party processor. But we will wait till the end of this experiment to see who offers the better comprehensive deal.

Per Trans Fee: The merchant account company charges Bill .30 per transaction he processes through his merchant account. Of course, we have already established that Bill will pay no per transaction fees with the package he received from the third party processor.

Gateway Monthly Fee: Because Bill will also need an internet payment gateway for his merchant account to work online with his website, he will also be paying $15.00 a month for his Gateway Monthly Fee.

AVS Fees: The AVS fee stands for Address Verification Service. Bill will want to use this service, to help reduce potential fraud, and customer chargebacks to his merchant account. He will now pay an additional per transaction fee of .10 per transaction.

Lets see the numbers behind processing with a merchant account as opposed to a third party processor:

$30 (Per Membership Sold) x 150 (Memberships Sold)= $4,500.00

$15.00 (Merchant Account Monthly Fee)- $15.00
$15.00 Gateway Monthly Fee)- $15.00
2.35% (Discount Rate) x $4,500.00- $105.75
.30 cents (Per Trans Fee) x 150 (Memberships Sold)- $45.00
.10 cents (AVS Fees) x 150 (Memberships Sold)- $15.00

Total Fees (With Merchant Account)= $195.75

$4,500.00(In total sales)
- 195.75(Total fees)
= $4,304.25(Net profit after all processing fees have been deducted)

With the merchant account, Bill was able to keep substantially more of his sales for himself, as profit. Bill could use these extra resources to advertise more, expand his operation, and even hire someone to work for him, even if only on a part time basis. The point is that that the better deal in credit card processing is always with a merchant account as opposed to using a third party processor. Most third party processors leverage the high levels of risk and chargebacks they must face everyday, by charging enormous fees and rates to their entire customer base. Third party processors are synonymous with Adult related websites. This is the reason for their increased exposure to risk. They must charge high rates to overcome the losses they are subject to by processing for a category of merchants that, unfortunate as it may be for them, falls into a certain level of risk and fraud that most other merchants do not. Because the merchant account company restricts its clientele to only companies with non adult related content, they are able to offer an entrepreneur like Bill, selling online content through his membership based marketing website, a much better deal in credit card processing.

$4,304.25(Net Profit with Merchant Account)
- 3,892.50(Net Profit with Third Party Processing)
= $411.75(Total Savings with Merchant Account)

This experiment has shown that the average website owner can save substantially by choosing wisely when it comes to their credit card processing solution. We have proved that most any entrepreneur can and will save substantial amounts of money by using a merchant account for their online credit card processing, as opposed to processing with a third party processor. In our little test, Bill saved $411.75, and that was just in the first month alone. Remember, that the third party processor will charge more, 15.0% to be exact, per transaction, once the customer is charged on a recurring basis. This means that for the second month, Bill would have paid even more to his third party processor; $675.00 to be exact! And that is just on the first months returning 150 customers. Every time Bill has a recurring payment processed through his third party processing account, he would be subject to a 15.0% transaction fee on all those sales. Not a very thrifty choice for credit card processing.

As with any business decision, be smart. Compare rates and plans, and make sure the simple setup is really worth the cost. In most cases, your Merchant Service Provider can setup your merchant account in as little as 24 hours. This is faster than your third party processor, and adds even more value to the otherwise already vastly superior deal you are receiving with your very own merchant account.

Josh Greth has developed, owns, and is the reigning CEO of CardStreet Cardservice Corp. To date, they have established over 100,000 successful merchants and helped make their dreams a reality, by creating a simple, yet cost effective, means of credit card processing. For more information on credit card processing, or to obtain your own merchant account for a retail, internet, wireless or phone/mail order business, please visit CardStreet.com.

Benefits Of Online Credit Card Processors

2008-02-04T00:54:00.001-08:00

We have all heard of PayPal. PayPal is an online credit card processor that allows online businesses to securely accept credit cards as a form of payment. In addition to PayPal, there are additional online credit card processors.

Online shopping has dramatically increased in popularity and each day more consumers think about purchasing online. Online shopping is popular because it is generally easy and convenient. Online credit card processors help to make online shopping hassle free. Online credit card processors are used by large or small businesses. In additional to nationally known companies, online credit card processors make it easy for work-at-home individuals to successfully make a profit selling homemade or wholesale merchandise.

For individuals interested in starting their own online business, finding the perfect online credit card processing company make take sometime. Credit card number are valuable information and unfortunately many account numbers are stolen each day. In addition to protecting the assets of your business, obtaining a secure online credit card processor will also protect your customers. Consumers do not want to be shopping or handing out valuable personal information to an unsecured website or credit card processing company. The best way to determine the success of online credit card processors is by searching for customer feedback on the internet. Many times clients will post feedback when they have had a positive or negative experience with a company.

In addition to personal and business security, fully researching the various different online credit card processors is a potential way to increase your profits. For allowing you to use their services, you are charged a fee. The fee and rates will depend on the online credit card processor in question. For this reason, it is important to shop around and find the best value for your money. Although cheaper rates are nice, it is not always better. Go with your gut instinct, if something seems too good to be true it may be. Research is an important tool in keeping your profits intact.

It is not uncommon to come across online credit card processors that offer certain guidelines or restrictions on their services. For example, there may be a select few of online credit card processors that limit the amount of sales it processes. This limit may be monthly, weekly, or even daily. If your business becomes a success, this restriction could only hurt it and could cause you to lose potential profits.

Another restriction may include the type of business that you are operating. Although each online credit card processor is different and they tend to operate under different standards, some online businesses may be a violation of their standards. A few examples of the businesses that online credit card processors may refuse to service are gambling sites, adult sties, or pharmacies. Before entering into a contract with an online credit card processing company, it is important to read through their contract rules and guidelines.

Credit cards are used by consumers because they are a convenient and easy way to participate in online shopping. If you are operating an online business, whether it be large or small, consider accepting online credit cards. There a wide number of online credit card processors available to serve your needs and help your businesses grow.Matt Garrett, SEO Services http://www.Accept-Credit-Cards-Online.co.uk

A Quick Guide to Third-Party Credit Card Processors

2008-02-02T00:16:00.001-08:00

If you've ever looked into getting your own merchant account, you already know how expensive it can be. Application fees, setup fees, standard monthly fees, transaction fees... they all add up fast! It can be too much for a business that's just getting started.

There is an alternative. Third-party credit card processing companies handle your credit card transactions for you in return for a cut of your profits. Setup is typically either free, or there's a small, one-time fee.

Here's here it works: once you've applied and/or been approved and paid any applicable setup fees, you create ordering links for your products. These ordering links lead to the third-party processor's server, where they handle orders on your behalf. Credit cards and online checks are common ordering options provided by third-party processors. Some also offer a telephone ordering option.

After your customer places an order, that sale is automatically credited to you, minus the company's commission. You are paid by the third-party processor at regular intervals, according to their pay schedule.

So what's the big deal? Why would third-party processors appeal to startup businesses? Aside from the setup fee, you are only ever charged IF and WHEN you make a sale. If you don't sell anything, you're not charged anything.

Here are a few things to consider when researching third- party processors:

* How much is the setup fee? Don't be put off if there is one; three of the four processors I use charge a setup fee, and they've been well worth the small cost.

* Transaction fees. After paying these fees, do you still make a reasonable profit? I've seen fees ranging from around 5% to about 30%, with the average somewhere in the middle.

* Are there additional fees for accepting online checks or telephone orders? Does the processor even offer these as options?

* Settlement fees. Does the company charge to cut you a check each pay period, or to wire transfer your funds to you?

* How much is the reserve? A 'reserve' is the amount held back from each pay check as a "slush fund" against future refunds, returns, or chargebacks. What percentage do they hold as a reserve, and for how long? It's commonly 10%, 10%, held for 6 months before being released back to you.

* Pay frequency. Most pay either every two weeks, or once a month.

* Reliability. Talk to others who have used the service to see if they've had any problems. If your order processor is 'down', your customers can't buy!

* Restrictions and limitations. For example, is there a minimum monthly sales quota you must reach? Is there a maximum product price you can set? Does the company restrict what the type of content you can sell? Do they handle only tangible or intangible products?

* Customer service. Does the company respond promptly and helpfully when you contact them?

* 'Extras'. For example, are there reporting or tracking capabilities? Free use of a shopping cart?

Finally, here's a short reference list of several third- party processing companies:

* Clickbank, http://clickbank.com/ * GloBill, http://globill.com/ * Digibuy, http://digibuy.com/ * Revecom, http://revecom.com/ * iBill, http://ibill.com/ * 2Checkout.com, http://2checkout.com/ * Verotel, http://verotel.com/ * CCNow, http://ccnow.com/

As you can see, there are many options, so don't let a tight budget prevent you from taking orders online! Third- party processors are both convenient and affordable -- even for startup businesses.Angela is the editor of Online Business Basics, a practical, down-to-earth guide to building an Internet business on a beginner's budget. If you enjoyed this article, you'll love the book! Visit http://onlinebusinessbasics.com/article.html or request a series of 10 free reports to get you started: mailto:businessbasics@workyourleads.com

"Transition Your Mind - From Dependant Employee to Self-Sufficient Entrepreneur"Dave Hertner

There are a great many of you out there who are poised and ready to move into the next phase of your lives but you are stuck in the starting gate!! You have dedicated a part of yourself to the romance and excitement that surrounds a new business venture but there is something holding you back.

Today, I'm going to help you see into yourself so you can take an honest look at why you're having trouble making the transition into entrepreneurship.

As you grow yourself out of your current situation towards entrepreneurship, you will pass through three phases of development.

The first phase is the DEPENDENCY PHASE. Physical dependence is the same as if you were hooked on some sort of substance. Your mind has decided that it is completely reliant on something. It doesn't have to be a substance!! It could be a family location. It could be a physical impairment. It could be that you don't own the type of clothing that your mind needs to see your body in before it can accept that you can be someone different.

The mental and emotional component of this dependence is the most important part to understand. If you cannot get a handle on your dependencies in this area you will get stuck in this phase. That said, this is also the most liberating door to walk through. You have to sit your self down and take an HONEST look at your life up to this point. Remind yourself about your dreams!! Accomplishment in the absence of dreams is impossible!! Open yourself up to the possible and focus your energy toward that goal!!

The TRANSITION PHASE is the 'get up and go' phase. Here you are with a fresh look at yourself and a great business idea. You now face the fear of starting or, if you teem it with inertia, ' Fear of Departure'. This happens often when you have a secure, well paying job that you are contemplating leaving. There are two things that can combat this fear. You need the support of your family and friends and you need to have a business plan that you have completely internalized. This will give you the courage to step away (mentally at first) from that perceived security which is exactly what is holding you back.

The business planning that you have done up to this point will kick in now to carry you on through the execution portion of the transition phase. Lots of work needs to be put forth to ensure that your business is successful. Congratulations!! You're out of the starting blocks!!!

The last phase of development is the most gratifying. This is when your mind re-learns to open up. When you were a child, your mind was wide open to new things. That is how children can absorb so much so fast. Successful people, as compared to lucky ones are those that keep their minds open to opportunities. They are also emotionally ready to capitalize upon those opportunities.

In conclusion, I will leave you with this simple thought. You are the only warden over your mind. You hold the keys that can free your mind to see all of the opportunities out there.

Remind yourself of your dreams. See yourself for what you are today. Plan for your transition to success. Execute that plan and then allow your mind to be free and open to all of the opportunities that come along.

To the success of your business!!!

5 Millionaire Information Marketers Teach You How They Pull $10,000 Or More A Month! FREE Report shows you how and tells who these "Super" Marketers are and how they can help you reach your dreams! Your FREE information packed report is at: http://www.cyberwealth-institute.com

Internet Credit Card Processors For The International Market

2008-01-31T01:16:00.002-08:00

75% of the Internet population will be non-English speakers by 2005. Selecting a Credit Card Processor for the Internet is one of the key ingredients to ensure a suceessful International e-Business.
Approximately 75% of the Internet population will be non-English speaking by 2005. Put this together with the predicted 2 trillion plus USD e-Commerce industry, and you have an nteresting set of dynamics taking place. Language! Culture! Money! Product! If you intend to sell your product into the International market then you better pay special attention to the language and culture. Listening and acting upon cultural requirements is a step towards making your organization a success.

From a cultural perspective, selecting the the right Credit Card Processor' is an important piece of the International e-Commerce jigsaw puzzle. The market is literally flooded with the Credit Card Processors, and have various alias's - credit card clearers, transaction processor, payment provider, payment processor, digital payment processor, etc. You get the idea!

I've been asked often enough about selecting 'A Credit Card Processor' that I decided to write a short article that helps cut through the hype. Once you narrow your choice to a few 'Credit Card Processors' then you need to drill down another layer and understand cost & contract commitments, supports services, contingencies, etc.

Merchant Account - International Acceptance

Firstly you will need a merchant account. A merchant account will allow you to transact business via credit cards, and also provides a mechanism to have the funds deposited after settlement. For the most part, the merchant account is a straightforward to establish, as long as you can prove you are a low financial risk. Most 'credit card processors' will provide (or coordinate) the merchant account setup for you. Your alternative is to go directly to your bank and apply for a merchant account, or use a 3rd party (e.g. Verotel - http://www.verotel.com) who provides a 'shared' merchant account.

In the International arena, you need to pay close attention to the the location where your company is legally registered. Some merchants account issuers require your company to be located in the same country as the issuer. Each issuer have their own rules and regulations.

The Shopping Cart - The Right Language

You will find that some 'credit card processors' provide shopping cart checkout facilities. It is important that the checkout software is localized for your target market. There is nothing more painful (for the shopper and the business) when a shoppers abandons the transaction because the checkout facility was not in the language of their choice. Needless to say the entire web site should be in the localized language too. From my experience, and speaking in general terms, the Japanese, Koreans, Spanish and Germans tend to feel more comfortable transacting business in their native tongue. These four groups make up roughly 40% of the total e-Commerce transactions. Aim to please your target market!

If your 'credit card processor' does not offer either the localized version of the software or does not offer it at all, you can always integrate a 3rd party solution. Miva (http://www.miva.com) is a good example of a 3rd party solution. They have both a European and Asian presence.

The Credit Card - Many Types

There are many types of credit cards in the International market. Visa, Mastercard, American Express, JCB, Diners Club and Discover are the most prevalent credit cards. Smaller card issuers in the different countries exist too, but will not be the focus of this article. Given this, you want to make sure your 'credit card processor' supports the credit cards for your target geographic region. For example, if your credit card processor cannot support JCB and you intend to do business in Japan you should probably look elsewhere.

The Credit Card - Black List

Some 'credit card processors' do not accept credit cards that have been issued outside of their home country, while others will not authorize a credit card transaction from a 'black listed' country. You should understand your 'credit card processors' position on this issue, especially if you are going to be transacting business in the International arena.

The Credit Card - International Fraud

Fraud is a major concern on the Internet. It is a global issue. In an online community your transactions can originate at almost any of the 170 million plus registered domain. As a merchant, you should understand who is liable in the event of credit card fraud the merchant or the credit card issuer/underwriter. Most 'credit card processors' will insure you against fraud, and usually have logging and tracking facilities to help them hunt down the origins of the fraudulent transaction.

The Credit Card - Settlement Time

Your cash flow is important, and equally important to be aware that International credit card transactions may take a week or more to settle. This means that the funds from the transaction will hit your account in roughly one week from the transaction date. Understand the settlement lead time & plan accordingly.

The Credit Card - Credit Limit

Credit card processor will typically put a limit on your credit, and you need to make sure you do not run into an awkward situation by which the transaction is declined due to a maxed out credit limit. Most 'credit card processor' will continually review your credit and adjust it accordingly, but you need to make sure that your credit limits are high enough to accommodate the volume of International business.

The Bottom Line

The bottom line make sure you select an appropriate 'credit card processor' who can support your organization in the International market. You may find the following 'International Credit Card Processors' a good starting point for your investigation.

- Pay Systems http://www.paysystems.com

- iBill http://www.ibill.com

- Multi Cards http://www.multicards.com

- Verotel http://www.verotel.com

- World Pay http://www.worldpay.com

- Verisign http:/www.Verisign.com

Gary Hyman has lived and worked Internationally over the last 20 years. He is an e-Commerce consultant, assisting organizations to expand their global presence via e-Commerce. He can be reached at mailto:gih@ecommercegrowth.com. The e-Commerce Growth Group at http://www.ecommercegrowth.com.

Ecommerce 101 Online Credit Card Processing

2008-01-31T01:16:00.001-08:00

Back in 1998 (through 2000 or so), I worked for a small company (called PaymentNet / then Signio) that handled online transactions. Verisign later purchased this company, and the product team I led integrated the "client" - the portion that took the credit card information and sent it to our servers for processing. The product name is Payflow Pro - maybe you've heard of it?

I'm going to limit this discussion to Visa / MasterCard credit cards -- Amex and others operate slightly differently.

First, there is the bank that the consumers credit card is attached to. That bank is called the "acquiring institution" ... it handles the "credit" you have on your credit card.

Then, there is the merchant bank. That's where the business opens up a "merchant account" to be able to accept various forms of credit cards.

The merchant account is connected to another company called a "processor". This "hidden" layer is the company that actually moves the funds from the acquiring institution to the merchant account (that process is called "settlement"). The processor also handles talking to the acquiring institution to make sure that the customer has the funds available (a process known as authorization).

Some well-known credit card processors are First Data Merchant Services (FDMS). Nova and PaymentTech.

Sitting on top of the processor is one of two primary systems either a swipe-card terminal (like those you see in Wal-Mart) or a "gateway" company that does basically the same thing, but over the Internet - that's what Verisign Payment Services and Authorize.Net do.

Note that the waters are even muddier in many cases, for example, Wells Fargo can act as every piece of the puzzle in some circumstances.

So, what actually happens when you purchase something at Wal-Mart using a credit card?

a) You place your items from your "basket" onto the counter and scan them. the checkout system provides a total.

b) You swipe your card through a "terminal", which reads the # off the magnetic stripe.

c) Wal-Mart dials their processor, and asks if you have the funds available on your credit card. The processor talks to your bank (the acquiring institution). If funds are available on the card, they are marked as "held" in your account (an authorization) - if not, the transaction is declined (yuk). Authorizations that are never settled tie up your credit card funds for a period of time, usually 10 days or so.

d) At the end of the day, Wal-Mart marks all the transactions they want to receive funds for, and submits them to their processor in a "batch". The processor then contacts the acquiring institutions and transfers the funds to your merchant bank - which may make the funds available instantly (in a day or two), or may hold them for a while, or may hold the funds in a "rolling reserve" (keeping some funds held back in case a consumer fights the transaction, called a chargeback).

In the online world, replace the cash-register with an online shopping cart, and the electronic credit-card with terminal with called a "gateway" such as Payflow or Authorize.Net. the process is basically the same, with slightly more complexity.

My site, CommerceStore.com handles the entire "shopping cart" and storefront process, including talking to the gateway. It knows how to talk to every major gateway (online credit card terminal) available. In addition, we have direct relationships with various banks that can help you open a merchant account in the US or in Canada, and the system works with PayPal. There's a whole lot more, including AutoResponders, built-in affiliate system, etc.

As a merchant, all you really need to know is that all services purchased through CommerceStore.com will work together. Be careful going "a-la-carte" with ecommerce credit-card services: if the gateway you chose can't talk to the processor your bank uses, or your software can't talk to the gateway, you're hosed. That situation was MUCH more common (things not working together) back in the mid/late 90's than it is today. However, most brick and mortar banks (like your local branch) still dont have a clue about online credit-card processing if they attempt to sell you a leased terminal, its best to run the other way and find a solution from reputable online source.

Nick Temple is a former engineer for what is now Verisign Payment Services. He can be reached at his website, http://www.nicktemple.com. He is part-owner of the CommerceStore.com complete ecommerce solution.

Playing the Credit Card Processing Field - To Switch or Not to Switch

2008-01-29T02:00:00.001-08:00

Imagine a company that specializes in setting up merchant accounts for new businesses or established ones that have never had credit card processing capability. The firm's collective pride and confidence swell when such business owners report that they have selected the company after performing much due diligence - some researching for months before taking the leap and deciding which credit card processing vendor to select.

However, while the merchant account providers' representatives may be enthusiastic speaking with merchants who are new to the credit card arena, they may typically feel a little uneasy speaking with merchants who are already processing with another vendor ' as if they’re walking on someone else’s lawn.

This is not to suggest that the representatives are not open and convinced that they can save these type of merchants money, making their lawn a little greener, so to speak. It is especially gratifying to the representatives that merchants who have experience accepting credit cards are finally aware of all the relevant fees – many of which may not have been disclosed when the original account was opened. However, during a discussion with credit card processing veterans, the given merchant account agents not only want to emphasize the savings that will result by switching to their program, but the incredible responsive service that the merchants can expect in the future. This is welcome news for many who have had unpleasant experiences with their current credit card processing provider.

Despite the fact that the company in question can convert many merchants who errantly chose another merchant account company, there will exist other business owners who will remain on the fence -- uncertain whether to switch or not.

One consideration that may be factored into the decision is whether a termination or cancellation policy is in effect. Many companies institute a rather severe penalty for canceling an account (many charging a base amount plus missed revenue from lost processing months) that can even surpass $1,000. Will the savings realized on a new account, in time, make up for this penalty? (Please note that many credit card processing providers do not have any termination fee.)

Merchants may also need to weigh whether it is worth their time setting up shop with another credit card processing company. A new application has to be completed, and assuming successful underwriting determination, a retail merchant then has to have his/her credit card terminal enabled to accept transactions from the new processor via a download process. An Internet merchant will have to alter html coding to post transactions to a new vendor.

While the allocation of time to switch credit card processing providers is generally modest (i.e., should not take more than several hours, and often, much less time), it still may be overwhelming for the merchant who feels under tremendous time constraints. Recently, I spoke with a harried business owner who does about $100,000 in credit card processing volume per month. He asserted that he has no time to thoroughly evaluate our proposal but will find some time if we save him at least $100 on a monthly basis. Needless to say, we are examining his statement with a fine, too comb, certain that we will provide this savings to the merchant and that he will find the time to switch to our credit card processing program.

Even despite any resultant credit card processing savings, a merchant may also place importance on the relationship that he/she has with the sales agent. One of our clients emailed us in distress over a Holiday weekend and we were able to solve a problem that appeared insurmountable to the merchant. She feels indebted to us (she need not feel this way) and always lets me know that, “We have a customer for life.” So even if she is presented with a competitor’s quote where another agent claims that she can save money by switching, she will politely decline the offer. As one agent sagaciously stated, “People buy from people, not processors.”

Merchants need to feel comfortable that their rates are extremely competitive, that they have someone to turn to (after the account … and especially in times of crisis) to answer questions and rectify problems, and that they are receiving great value for their processing dollars. When a merchant is happy with their merchant account partner, there is no need to look in another direction. Conversely, if a merchant experiences nothing but consternation with his/her current credit card processing vendor, then the merchant needs to look elsewhere to satisfy their credit card processing needs.

Andy Lax is an Account Manager with IntelliCollect, a credit card processing vendor that offers an affordable merchant account with excellent customer support. Those currently processing credit cards with another vendor would be very wise to examine IntelliCollect's program, comparing rates. Please see the following site, http://www.intelli-collect.com to reduce your credit card processing expenses.

Service Franchises and Nationwide Credit Card Processing in the Field in Real Time; case study

2008-01-28T01:27:00.000-08:00

Large service company franchise systems are a lot to manage. Luckily with many franchise owners they work much more efficient than straight managers because it is their money on the line and they know it. Franchise services companies which clean carpets, pave driveways, clean mini blinds, change oil in cars or even groom dogs need nationwide systems for customer credit card approvals, as well as gift cards and perhaps even loyalty credit cards too. With such system it is indeed important to have Universal Credit Card Approval. How so you ask?

Well for instance what about a Nationwide franchise credit card processing software program? Your franchisees can log on (secured) and enter the customer’s credit card and charge it appropriately, via wireless device and it would go into the Intranet System and would be able to take the company credit loyalty cards too.

Franchisees often have companies call them and tell them that they have software they can install on their computer to accept credit cards and have it processed immediately. And rather than allow all the franchisees with different systems, it is better to implement a nationwide system to leave you more options.

It is best for nationwide or fast growing regional franchise companies to do this over their websites thru an intranet system? Many franchise service company franchisees have customers who allow their credit cards to be on file and charge them when service is rendered. This is much better for the franchisees than them having to wait 180 days to finally get a check in the mail.

Franchisors who implement such a system can take their royalties out upfront as a percentage and allow their franchisees more immediate cash flow and thus more monies available for expansion of their franchises and thus further extension of brand name, so think on this in 2006.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington

Credit Card Processing - 7 Things You Need to Know Before Opening an Online Merchant Account

2008-01-25T01:32:00.000-08:00

When considering opening an online merchant account to accept credit card orders, there are a lot of things you need to keep in mind. The best thing to do is learn all about credit card processing before you open your online merchant account so you can handle everything from the beginning rather than having to go back and make many changes.

The following topics are things you need to know about credit card processing online before you open an online merchant account:

Topic 1 Security

When it comes to making online purchases you need to be sure your customers feel as confident as possible that your site is secure and there is a very small percentage that any fraud will take place during their purchase. In general, the credit card processing software takes care of the security for the transactions; however you can boost security on your own website to reduce the theft of credit card numbers, hackers, and general fraud. Also, consider using additional secure measures like asking for the numbers on the back of their visa card or the four numbers on the front of their American Express. Doing so ensures that the person ordering has the credit card in hand, and more than likely this is the owner of the card.

Topic 2 Fixed Rates

Before signing up with a credit card processing company you want to make sure you will be receiving fixed rates for the life of the service. Many firms offer this so don’t feel that this is not an option. When you set this up, it is important that you get this in writing to ensure your rates stay the same. Of course, your rates will rise if Visa or MasterCard increase what they charge for credit card purchases, but this should be the only condition. Don’t sign any contracts without addressing this issue!

Topic 3 Bundled Rates

Be careful with bundled rate offers. Frequently, credit card processing companies will mention bundled rates and how they will save you money. This may or may not be the case, depending on your products and the average price you sell them for. Do some research on this topic in comparison to the types and prices of products you sell to see if it will save you money or not. For most businesses it costs more.

Topic 4 Confidence

Before you open an online merchant account, be sure you have complete confidence in the company that is handling the credit card processing. If for some reason you do not, even if you don’t know why, keep moving on until you find one you do feel comfortable with.

Topic 5 Credit Cards and Debit Cards

You want credit card processing software that will allow you to accept a wide variety of credit cards as well as debit cards. Do not limit yourself to just Visa or MasterCard. Also accept cards like American Express, Diners Club, as well as all bank debit cards. Doing this will only increase your business.

Topic 6 Accept Credit Cards

Before opening an online merchant account you should know that most people are going to purchase from you using their credit or debit card. Sending personal checks and or money orders might be an option you provide for the small percentage without credit cards or who mistrust the Internet, but most people are going to buy with their cards so it is important to have secure software and an easy to use interface.

Topic 7 Save Payment Information

Many websites offer the option to save payment information. This means that more than likely, you will have a return customer who wants to save time when shopping next time by not having to type in all of their information again. Provide this option to shoppers on your website!

Michael Turner reveals step-by-step how you can increase search engine traffic in his free 7 part mini-series. Grab it now at http://www.powertraffictactics.com/

Credit Card Processing Provides Customers with an Extremely Popular Payment Option

2008-01-23T02:18:00.000-08:00

If your business does not accept credit card orders you could lose an expected 85% of potential sales. Most online businesses report that 95% of their orders are through online order forms. Accepting credit cards via credit card processing systems has several advantages for business owners as well. It gives you the chance to increase sales by enabling customers to make impulse buys even when they don't have cash in their wallets or sufficient funds in their checking accounts. Accepting credit cards can improve your cash flow because in most cases you receive the money within a few days instead of waiting for a check to clear or an invoice to come due. Finally, credit cards provide a guarantee that you will be paid, without the risks involved in accepting personal checks.

If business is new, home-based or online, in order to sell products effectively online, via telephone or mail order, it is essential to have a credit card merchant account with a reliable credit card processing company. A merchant account gives a business the ability to accept credit cards as payment for the company's goods and services. Credit card processing solutions provides customers with an extremely popular payment option, beyond cash and checks. Plastic cards are becoming increasingly popular as organizations roll out new and exciting card programs. Join a growing number of successful companies offering credit card processing solution. It has been recognized that it takes more than great technology to become a market leader.

For more information on credit card processing,please visit http://www.paynetsystems.com

Online Credit Card Processing Services - Why Your Business Needs It

2008-01-19T01:11:00.000-08:00

Payment processing is the major reason for any e-commerce business to get a merchant account. Merchant accounts enable your business to receive credit card payments online and become capable of providing your customers with several payment processing options.

Online credit card processing not only enables you to boost sales but also saves you a lot of hassle along with offering you many other benefits.

Reliable and secure credit card processing services allow your business to flourish and increase sales by leaps and bounds. Merchant account providers who offer international payment processing understand your business needs and that is why they offer major benefits like various payment processing options worldwide.

Online credit card processing allows you to accept all forms of payments from anywhere in the world at any time at all. This allows businesses to accept all kinds of various major credit and debit cards online and saves the merchants and customers the hassle of going to the bank.

With international credit card processing services you become capable of accepting payments from anywhere at all. Doesn’t matter whether you are in the US or the UK or in any other corner of the world, a good merchant account provider will offer you payment processing services that will allow you global transaction facility. All kinds of businesses whether big or small, high risk or low risk become capable of increasing their sales and revenue with online credit card processing.

Good merchant account providers will offer you safe and reliable credit card processing services with scam and fraud protection along with SSL encrypted servers that guarantees secure transactions. This in turn will help protect your transactions against fraudulent cases.

More info on Credit Card Processing at Instabill.com

Credit Card Processing Options for Home-Based Business Owners

2008-01-19T01:09:00.000-08:00

Are you the owner of a home based business that wants to be able to accept credit cards payments from clients or customers, without all the high fees that typically go along with it? Well, now you can thanks to e-commerce and the internet.

Special Options for Home-Based Businesses

With proper research you will be able to find that many merchant account providers also now have special packages for the specialized industry of home-based businesses. No one knows your business like you do. Therefore, you should carefully research any and all possibilities before making a decision on what way is the best to accept credit card payments for services rendered. Though there are pros and cons to be weighed and considered, the option of being able to accept credit cards from clients and customers is a huge convenience for you both.

For home based business owners, it has been a difficult and lengthy process in the past to receive payments from clients or customers; but by having a merchant account, you can now accept payments through a banking institute, independent sales organization, or by a third party such as PayPal. Home-based businesses must be approved in order to establish a true merchant account through a banking institute or independent sales organization. An underwriting process is necessary, and it will also involve using your personal credit rating, and this will be reviewed and evaluated. Many merchant account providers offer high approval rates, and special account options for home-based businesses.

Receiving Funds From Credit Card Payments

When the process is completed the home-based business owners can automatically deposit funds received from credit card payments directly into their account. There are fees that are charged by an Independent sales organization or banking institute, and while they are not as low as the third party provider they are often worth the ability of accepting credit cards. With higher sales volumes, the fees charged by Independent Sales organizations or banking institutes will be less compared to the third party providers-so you have yet another incentive for increasing your business!

Third Party Providers

When using a third party provider, the funds will get deposited into the merchant account, and then you can transfer it to your account. The entire process may take up to several days. Additionally, using a third party provider means you run the risk of never receiving the funds from your transactions, as they are often fraudulent businesses.

Merchant Accounts Through Banks

There are both positives and negatives associated with a merchant account through a banking institute, as well. Some advantages include the fact that banks are considered to be secured and dependable, and fees associated with setting up your merchant account are considerably lower for the long-standing business owner and owners with good credit. Many banking institutions do not like to open merchant accounts for a business seeking to accept credit cards over the internet. You will have to go and speaking informatively about your business and your goals and why it would be profitable for you to be able to accept payments on line. Banking institutions are more likely to close a merchant account if there are any charge backs.

Independent Sales Organizations

Business owners wishing to open a merchant account with less than perfect credit typically use Independent Sales Organizations. Independent Sales Organizations go through a bank for the merchant account. Independent Sales Organizations accept businesses that wish to collect online payments and they do accept high risk businesses. These types of organizations will charge higher fees and you do need to watch them carefully to make sure that you do not pay for the same fees over and over again, but they can be a good option for people and businesses that are otherwise unable to accept credit cards.

Many merchant accounts that are now available for the home-based business owners have a high approval rate, and most are approved within twenty-four hours. Most of the merchant accounts have done away with all the application, set up, monthly and annual fees. Be sure to ask questions up front about any fees that may be associated with obtaining a merchant account.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.

Online Credit Card Processing Services - What To Look For

2008-01-18T02:00:00.001-08:00

A good credit card processor will offer an accommodating service and will allow you to process your transactions faster and at a better rate. Make sure that the average approval rate of the processor is good before applying. However if your merchant account provider is offering you online credit card processing services than you do not have to worry about such details.

Low monthly fee is another option worth checking. This allows you to keep the overhead costs down and get good ratings on per month transactions. Good credit card processing services will keep the ongoing fees and costs in check. Setting up a merchant account with credit card processing services and a secure payment gateway should not be much of a hassle and merchant providers will help you setup an account for your business as soon as your application is approved, which generally takes only a few days.

A 24/7 customer service is a great benefit and processing services which offer this via various options like phone, email and fax etc understand the importance of your business. Also internet facilities like secure virtual terminal and POS options allow your business to process transactions faster and give your business a great deal of flexibility. With such facilities, customers become capable of using online credit card processing services from anywhere at anytime.

Apart from these features there are several other benefits that online credit card processing offers. These include cost effective e-commerce solutions, online fraud protection, shopping cart services, electronic payment processing, various credit card processing tools, risk management services and much more.

In short, online credit card processing is the need of the day for all e-commerce businesses. Not offering online credit card processing services to your customers mean that you are losing potential customers and offering this service allows you not just to expand your business beyond the geographical boundaries but also to gain several other major benefits as well. Make the right choice for your business and choose a merchant account provider who offers valuable services with added benefits especially online credit card processing services.

More info about Online Credit Card Processing on Instabill.com

Revealed: The Ins and Outs Of Credit Card Processing

2008-01-18T01:59:00.000-08:00

If you have spent time browsing on the internet then I’m sure you’ll appreciate the importance of being able to process credit cards for businesses which operate online. Having the ability to process credit cards allows the online business to access and receive orders from a much larger spectrum of possible clients. Credit card processing is one of the main factors required for growing a successful internet business,

This article will aid your understanding of credit card processing and will cover the benefits of utilizing credit card processing capabilities for your internet business and also the procedures involved with implementing credit card processing into online business systems.

So Why Is Credit Card Processing So Important?

Other than being able to accept credit card payments, which is essential, credit card processing enables you to dramatically increase the efficiency and effectiveness of your online business as it allows you to automate almost all your payment procedures as well as giving your customers an easy hassle free transaction method.

Having credit card processing facilities for your online business will make the whole buying experience for your customers much simpler and straightforward. As it cuts out the hassles of having to send checks or place orders by telephone, all they do is simply enter in their credit card details and voila, the system handles the order and processes the transaction. It also saves you the problems and hassles of having to handle checks and credit card orders, saving you valuable time and money.

The biggest bonus of accepting credit cards is the fact that it will enable you to automate virtually all of your online transactions and as you will know an online business needs to be able to operate 24 hours a day and 7 days a week, so automation is key to success. Credit card processing capabilities handle everything for you, so you don’t have to be chained to your desk attending and monitoring everything.

So How Do You Get Started Credit Card Processing?

The most important requirement for credit card processing is to have an online merchant account, which is a service you subscribe to, to process the orders for you. There are a large number of different merchant account providers out there which cater for all kinds of businesses wanting to process credit card orders. Many charge monthly fees while some charge one off payments for their credit card processing services. However with the likes of Paypal and the reported development of a Google payment system, prices are sure to come down in the future.

However before you jump in a choose a credit card processing service, shop around and don’t just go for the cheapest option as good customer service, security and reliability are key for any successful online business, so it should be one of your main concerns while you grow and expand your internet business.

For more information on credit card processing and learn how to increase your profits using a merchant account visit: http://www.1merchantaccount.info/

Ecommerce: Merchant Account and Credit Card Processing

2008-01-17T02:33:00.000-08:00

Having an online business that takes in money over the internet requires the ability to accept credit cards directly from your website. This is commonly known as “ecommerce”, or electronic commerce. This tutorial will help explain all there is to know about processing credit cards over the internet.

The Basics

Terms to Know:

• Shopping Cart: An online application that collects all your products and gets them ready for checkout, passing the information about the transaction to the payment gateway.
• Merchant Account: The bank or financial institution that actually processes and handles the transaction of debiting one account and crediting another.
• Payment Gateway: The program or application that communicates between the website and merchant account, verifying the credit card information and executing the transaction.
• Web Hosting: Serving your website or web page from a web server to any requesting client browser.
• Secured Socket Layer (SSL): The process by which information is securely exchanged between the web server and the client browser. 128-bit encryption is the most secure.
• Secure Certificate: A certificate of authentication that assures website visitors that the website being used is safe, secure and tested and up-to-date.
• IP Address (internet protocol address): The physical, numerical address that is associated with the domain name. There are two types of IP addresses:
1. Static IP: There is one IP address that is associated with a domain name, and it never changes.
2. Dynamic IP: The IP address can change at any time, depending on the need and whenever necessary, as determined by the hosting company.

There are 3 things required for credit card processing:
1. A web hosting account with a static IP address
2. A merchant account with a reputable company
3. A current, secure SSL certificate

Web Hosting

There are many web hosting companies that operate online, and choosing one is not too difficult. However, there are a couple requirements that you need to look for when choosing your company. The hosting account must have a static IP address because a secure SSL certificate is required when transferring confidential information over the internet through the payment gateway.

Merchant Account

A merchant account is required for credit card processing because this is how the payment will be processed; money must be taken out the buyer’s account and deposited into the seller’s account. The merchant account is the generic name for the process by which all transactions are handled. This is explained in detail:

1. The website visitor selects the product or service to purchase and initiates the sale.
2. The website takes the visitor to secure area of website (with gold lock on bottom of browser) and requests payment information (credit card info).
3. The visitor completes the required information and clicks ‘submit’.
4. The information is sent securely through the payment gateway for the information to be verified as valid or invalid.
5. After verifying the accuracy of the credit card information, the transaction amount is debited from the buyers account (bank or credit card) and deposited into the seller’s bank account.
6. The buyer receives a payment confirmation via the website.

Account Fees & Charges:

There are two basic charges associated with a merchant account. These are:

• Administrative Fee: This is usually a monthly fee that is assessed for all administrative fees.
• Discount Rate: This is a fee (percentage based) that is imposed based on the total amount of the sale.
• Per Transaction: This is a payment gateway fee that is charged with each transaction that comes from your website.

The way this fee system works is the same, no matter what merchant account provider you use. For instance, let’s say you have a transaction rate of $0.25 and a discount rate of 2.5%. If you have a product that you sell for $10 from your website, each time the product is purchased you will receive $10 deposited into your account. You will also be charged $0.25 for the transaction, and $0.25 discount rate (computed at the end of the month). That’s a total of $0.50 in fees for the $10 sale of your product.

Most merchant account providers will impose a monthly base (minimum) fee for the account. Let’s say the base fee is $15. This base rate is an either/or charge, meaning you are charged that amount unless your discount rate and per transaction fee amount to more than the base amount.

For example, through the course of business, you sell your $10 product to 20 buyers. At the discount rate and per transaction rate used above ($0.25 transaction and 2.5% discount), your fees amount to $10 on $300 ($10 x 30) in sales. Since this amount is less than the base rate ($15), you will be charged the base rate for the month. However, if you sell your $10 product to 90 buyers, your fees amount to $45 dollars for the month. Since your fees amount to more than the base rate ($45 vs. $15), you will be charged $45 on $900 in sales.

Types of Transactions

There are two basic types of transactions when purchasing goods or services online:

1. One-time Purchase
2. Recurring Subscription

Most online stores and catalogs deal with ‘one-time’ purchases, meaning you find a product online and purchase it. After confirmation of sale, this ends the relationship between buyer and seller.

The other type, ‘recurring subscription’, is based on interval billing. This type of purchase can be for membership fees, or for any other type of fee that is billed on intervals.

Payment Gateway

The payment gateway is an application that you integrate into your website. Most payment gateways have an API that allows for easy, seamless integration into your website, meaning the user’s experience on your website remains consistent, even through the credit card processing phase. The payment gateway is responsible for validating the credit card information provided, such as address verification and security code matching. There are many payment gateways available on the market, but to ensure compatibility, it’s recommended that you use the one provided at the time of your merchant account setup.

SSL Certificate

The secure digital certificate validates the site as being secure, letting the buyer know that the information exchanged over the internet will be sent using the best possible encryption. In other words, the personal, confidential information sent will be scrambled to avoid interception by a 3rd party and used fraudulently. An SSL certificate requires a static IP address, but does not have to be associated with your website. You can link the transaction to another website (sharing a certificate) to handle the transaction. However, it is recommended that your website have its own static IP and secure certificate to maintain site continuity. Think of it this way; you're at the supermarket, and when you go to checkout, you are either taken across the street to handle the transaction, or the transaction can be handled at the store you're currently at. Basically, it looks more professional to process the transaction immediately, rather than take the buyer somewhere else.

In Conclusion

That is what merchant accounts are all about. All merchant accounts operate on the same guidelines, and determining which merchant account you want to conduct business with is up to you. The main things to consider are the per transaction fee, discount rate and base monthly rate. Make certain that the merchant account provider you are going to use is a top-tier provider, meaning the company is the actual processor, and not a reseller of another provider. This is important when it comes to the fees and customer service for your account.

This article was written by Gus Garcia, owner and operator of http://www.merchantaccountchoices.com, a free-to-use merchant account comparison website.

Click here to see the top credit card merchant account providers in the industry.

Choosing the Right Credit Card Processing Company

2008-01-13T23:26:00.001-08:00

There are many credit card processing companies to choose from, how do you know which one you should go with? Will they benefit your company? Are they affordable? Are they reliable? The internet can be a great tool for finding the right credit card processing company. Do your homework, determine which one has the features you need and are looking for in a company.

First, though reliability and trust is most important, you may likely be concerned about the start up costs. Some companies do not charge anything for startup, while others can charge as much as $250 start up fees. You want to make sure you choose a company that is both affordable for you and worth the costs.

Then of course, in keeping with costs, you need to look at other fees that may be required. Most credit card processing services charge several types of monthly fees. For example, a gateway fee, this could cost you as little as $10.00 per month and all the way up to $50.00 or more per month, depending on which company you choose.

You might have a statement fee as well charged to you each month. For most companies, this will cost you between $9.00 and $10.00 each month. Then you have to consider the monthly minimums, this will vary from one company to the next, but for the most part, this minimum runs between $20 and $30 monthly.

The fees do not stop there either. You will also have to deal with transaction fees. Per transaction fees average between twenty-four cents to thirty-five cents per transaction. Then on top of that, the company will likely take a percentage of each transaction as well, which could be anywhere from 2.14% to 2.40% on average. Lastly, some credit card processing companies charge a fee for address verification. If they charge the price is typically five or ten cents per address.

In other words, you need to find a company that is both affordable, trustworthy, and honest, fitting your budget at all the same time.

Then you have the chore or finding a credit card processing company that provides you with all the features you need for your company. This is just as important as costs because you definitely do not want to pay a lot for credit card processing if the company cannot meet your needs.

Some features to look for, that you may or may not need, includes:

Payment Gateway

Virtual Terminal
Merchant Account
How many days the payments clear
e-Check services
Point of Sale Swiper
Recurring Billing
Shopping Cart

You will then want to look at how the credit card processing company protects your business. Some features you will definitely want from any company includes:

Fraud Protection
CVV2 Acceptance
Real Time Processing
Address Verification
SSL

Then you need to consider what credit cards you wish to accept and if the credit card processing company supports those credit cards. The most commonly accepted credit cards are:

Discover
Visa
American Express
MasterCard

Lastly, while features, fraud protection, and the credit cards that you can accept are extremely important, you want to make sure that you choose a credit card processing company that provides you with the help and support you need, when you need it. Here are some tips that will help you choose:

Make sure that you can easily find their fax number
Make sure that reaching them by E-Mail is possible and readily available.
Check out their support hours, the best companies offer support 24 hours a day, 7 days a week.
Does the company provide you with a toll-free telephone number? This is a positive for any company.
If Live Online Chat is important you, look for this feature as well.

Overall, you want to make sure the credit card processing company you choose not only fits your budget, but it fits your needs and requirements as well.

This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.

Free Credit Card Processing for Business Owners

2008-01-13T23:25:00.001-08:00

Would you like to upgrade your company’s operations by taking advantage of free credit card processing for business owners? There has never been a better time to locate banks offering this service and make the best possible deal for your interests. Financial institutions are eager to work with you in opening a merchant account, and they sometimes offer attractive incentives to get entrepreneurs’ business. If you like the idea of free credit card processing, start shopping at your community banks and credit unions to see what type of deals they can offer.

Free credit card processing for business owners is an attractive perk, since some companies impose fees of perhaps 15 to 25 cents per transaction or a monthly percentage fee overall of between 1% and 2%. Being able to get free credit card processing for business owners could save you a significant sum of money each month, and over time, those savings could increase even more. Your customers will love the ease with which they can make online credit card payments, and you will appreciate the time-saving benefits of handling credit payments electronically rather than by employees who require regular paychecks.

It is a good idea to sit down with your financial institution and discuss the precise terms of the free credit card processing for business owners deal. Will you have to pay an application fee? Will annual membership fees come due each year? Are there other embedded costs that you should know about up front? Even if your credit card processing is free, other start-up expenses could add up to cost even more than the transactions would. You will want to make the best possible deal before signing an application or contract to be sure you don’t get trapped into paying unexpected high costs later.

Keep in mind that free credit card processing for business owners may not be the best perk to ask for when applying for a merchant account. In addition to start-up fees that could be imposed and perhaps increased in lieu of the free credit card processing option, you also may have to pay expenses like a statement fee, a minimum fee, a discount fee, and a license fee. These could add up initially to more than you will pay for transaction fees. Even if the free credit card processing option appears to save you money at first, is this a limited time offer? When reinstated later, will transaction fees be difficult to add to the company budget since you did not start the process with them?

You might want to get a second opinion on weighing the benefits offered with various merchant account deals. You could even ask the customers via an informal survey about the type of credit processing they are most interested in and then see how promotional offers for opening a merchant account may impact customer interests. Of course, you can always check out the benefits of paying no transactions costs, and if permissible, switch to another system later if costs increase more than expected with free credit card processing for business owners.

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

Credit Card Processing - Benefits Of Accepting Online Payments

2008-01-11T01:03:00.000-08:00

Advantages of Online Credit Card Processing

If you own an online business and don't already accept credit card payments you should consider doing so immediately. Nowadays upwards of 80% of consumers use credit cards to pay for products and services online. If you don't accept credit card payments regardless of how small your business is, you risk losing customers and profits.

Credit cards are often preferred by customers because they are safe, secure and easy to use. Many people rely on credit to buy gifts and business items. Some customers will walk away from a website and not even look at the products and services if they know that credit card payments are not accepted. For that reason alone it is very important you consider credit card payments. Here are just a few of the benefits credit card processing has to offer:

You provide your customers with a secure and easy to use online method of payment.

Your customer's purchase is guaranteed and protected by the credit card company.

Customers receive instant satisfaction because they can order products and receive confirmation, and sometimes download their product or service within minutes of placing their order.

Businesses that accept credit card payments will improve their sales and profits exponentially.

Accepting credit card payments makes a business look more professional and established.

Credit card processing ensures optimal customer service and convenience.

You don't have to worry about bounced or bad checks or wait several days for a payment to clear when you use online credit card processing.

Article by Frank Owen, visit his web site on credit card processing for more information on credit card processing http://www.creditcardprocessinginsider.com

Up to Here with Credit Card Processing Limits

2008-01-11T01:02:00.000-08:00

When a merchant signs a contract with a credit card processing provider, said business owner must indicate the anticipated monthly volume, average ticket and highest ticket. Invariably, merchants (especially new ones), have an exceedingly difficult time with this speculation process. It’s not easy forecasting one’s volume of business, let alone how much will be secured through the use of credit cards.

Despite the arduous task of predicting limits, it is always best to OVER-estimate the volume. While the merchant needs to use reasonable assumptions in arriving at these figures, an overinflated amount may preclude a problem in the future.

Suppose a merchant indicates that the highest anticipated amount will be $1,000 for any given transaction. If this merchant unexpectedly makes a sale of $3,000, this transaction will be red flagged and funds will not be released. The risk department of the processing company will verify the validity of the transaction, holding up this merchant’s funds, jeopardizing needed cash flow. Subsequent transactions may be held as well, even if they fall below the highest threshold amount.

While some companies expedite the process in confirming the authenticity of transactions, other processing firms place indefinite holds on merchant accounts, refusing to release funds for weeks or even months! This is especially problematic during a merchant’s busy season where monthly volume can accelerate and reach much higher levels than anticipated. Here, too, the processing companies can put the kibosh on the merchant’s account until further notice (i.e., when transactions are verified). Serious funding delays may materialize and the merchant may very well be out of business (literally) as funds are not released on a timely basis.

While it may appear to the merchant that the processing company does not gain any commission from held transactions, there exists a very sound reason why processors engage in such a business tactic: to protect their financial interests. Credit card processors worry that such transactions may be charged back to the merchant and that the merchant will not have sufficient funds to cover these chargebacks. Who must then issue credit to the merchant’s customer? The credit card processing company must then return the deemed ill-gotten funds.

So what is an honest, hard-working merchant to do to avoid interminably held transactions – aside from signing up with a reputable credit card processing company that does not indiscriminately freeze accounts or takes an inordinate amount of time to verify transactions? The merchant should initially request limits that are higher than anticipated. Of course, with higher limits, credit card processing application approval becomes a little more challenging. However, a merchant’s good personal credit score should be more than sufficient for the underwriter to approve the account. (Those that do not possess favorable credit may be able to get a cosigner that does have good credit.)

As time progresses, merchants can request a merchant limit increase as well. Those in good standing (e.g., those that have not incurred chargebacks) can easily have their limits increased. As business grows, it seems logical that such limits should increase from the initial forecast.

Merchants need to know their credit card processing volume limits and attempt to expand them when necessary. In the scenario that the merchant knows that a given transaction will exceed one of the limits, a phone call to the processing company is in order. The merchant may have to provide an invoice and even business bank statements but the holding time will be less as the processor is then included in the loop from the start.

There is no guarantee that funds will never be held. Indeed, a company that suddenly takes in $1,000 per day when formerly taking in $100 per day will be under scrutiny from the credit card processing company. This company may very well have to explain the set of circumstances to the processor and share business financials. But if the merchant takes a more proactive role, keeping an all-important eye on limits and maintaining open communication with the processor, problems may be avoided.

Andy Lax is an account manager with IntelliCollect, a merchant account provider that enables business owners to accept credit cards and electronic checks from their customers. Please visit this site, http://www.intelli-collect.com to learn more about the merchant account field and examine the payment processing programs of this reputable merchant account provider.

Top 7 PayPal Credit Card Processing Advantages

2008-01-09T00:29:00.001-08:00

Here are seven good reasons why you should consider PayPal.com as your credit card processing solution and merchant account alternative.

1. Accept Credit Cards Without a Merchant Account

You can accept all major credit cards as well as payments from bank accounts. Your customer doesn't have to be a member of PayPal to pay by credit card.

2. Low Cost

There are no initial or monthly fees to join PayPal. Fees are 2.9% of sales and $0.30 per transaction; rates vary slightly by country and sales volume.

3. Flexible and Easy to Use

PayPal payments can be made in six different currencies for digital or physically shipped products, auctions, services, recurring payments (like subscriptions), et cetera. As well, PayPal is very easy to use and setup.

4. Shopping Cart5. Buyer Network

According to PayPal.com, PayPal has "more than 86.6 million accounts in 56 countries and regions ...growing by 83,000 a day... One in three online buyers in the U.S. has a PayPal account."

6. Merchant and Auction Tools

PayPal has a number of automated tools to make your life easier including financial reporting, shipping calculation, sales tax and value-added tax calculation, and much more. Since PayPal is an eBay company, it is designed to integrate well with eBay auctions.

7. Fraud Detection

PayPal claims to have "one of the lowest loss rates in the online retail industry." Their Seller Protection Policy is designed to protect the merchant; their Buyer Protection Policy is designed to protect the customer.

RESOURCE BOX:

http://www.yenommarketinginc.com/creditcards.html

For profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/

Top 7 2Checkout Credit Card Processing Advantages

2008-01-09T00:28:00.000-08:00

Here are seven good reasons why you should consider 2Checkout.com (also known as 2CO) as your credit card processing solution and merchant account alternative.

1. Accept Credit Cards Without a Merchant Account

For an initial fee of $49.00, you can accept all major credit cards as well as online checks. Fees are 5.5% of sales and $0.45 per transaction.

2. Handle Both Intangible and Tangible Products

While ClickBank.com restricts itself to digital products, 2Checkout can handle both digital and physically shipped products.

3. Shopping Cart

Whereas ClickBank handles only single sales, with 2Checkout, you receive a shopping cart. Alternatively, many third-party shopping carts integrate with 2Checkout.

4. Integration With Third-Party Affiliate Programs

2Checkout integrates with third-party affiliate programs such as ClixGalore.

5. Eliminate Sales Tax Problems

Since you must agree to sell your product to 2Checkout for resale, 2Checkout becomes the retailer responsible for collecting sales taxes -- not you. This simplifies or eliminates sales tax administration for you.

6. Fraud Detection

With 2Checkout, you have to wait until they complete their fraud detection checks before you deliver the product. This protects the merchant as well as the customer.

7. Other Advantages

As well, 2Checkout features free on-line support, their own affiliate program, and more. Your products are also searchable from shopping center links on their website, thus giving you more exposure. 2Checkout also allows for multi-currency transactions which enable customers to buy in their own local currency. According to the 2Checkout.com website, this improves sales and reduces credit card disputes.

RESOURCE BOX:

J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years.

To learn more about accepting credit cards, visit http://www.yenommarketinginc.com/creditcards.html

For profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/

Credit Card Processing without a Merchant Account

2008-01-06T22:45:00.001-08:00

Credit Card processing without a merchant account is a feasible option for website owners.. If your business is to grow and succeed, it is essential to accept online credit cards.

Benefits of accepting online credit cards.

1. It has been proven that sales increase dramatically when you accept online credit cards.

2. Up to 75% of online purchases are made on impulse and customers spend up to 50% more when using their credit cards.

3. Above all, if you accept online credit cards you build credibility in the eyes of your customers as they assume only established businesses will accept cards.

However, it is not necessary to have your own internet merchant account to be able to accept credit card payments on your website. Most small businesses do not need their own online merchant account.

How to get free online credit cards

Getting your own internet merchant account is more difficult than obtaining an offline merchant account because the card is not present at payment nor is the signature obtained. Sometimes, small and new companies face extra difficulties.

Nevertheless, these problems can be overcome by getting a Third Party Processing company to accept online credit card payments on behalf of you or your company.

How Third Party Processors operate

The payments your customers make are processed through the third party’s own merchant account, and you the retailer is paid (minus a commission) by the third party processor. This allows you to sell online without the necessity of having your own internet merchant account.

However, the Third Party Processor makes its profit by charging a processing fee. Usually, third party processor charges are a little more on a transaction compared with having your own online merchant account. Though set-up fees are usually free or minimal.

So, there you have it. You can accept online credit cards on your website through a Third Party Processor without needing your own merchant account. Credit card processing without a merchant account is definitely an option.

For a review of online merchant accounts and third party processors Got to: http://www.merchant-account-service.com/third_party_processors.html

Top 7 ClickBank Credit Card Processing Advantages

2008-01-06T22:44:00.000-08:00

Here are seven good reasons why you should consider ClickBank.com as your credit card processing solution and merchant account alternative.

1. Accept Credit Cards Without a Merchant Account

If your products are digital (such as electronic books or software), you can use ClickBank to process credit cards and on-line cheques. The cost is $49.95 upon signup and $1.00 per transaction plus 7.5% of sales.

2. Start Your Own Affiliate Program

With ClickBank, you have your own built-in affiliate program. You decide what commission (from 1% to 75%) you would like to pay your affiliates.

3. Receive Free Advertising

You receive additional exposure through free listing on the ClickBank website and through the search facilities of other websites, such as CBMall.com.

4. Obtain Referral Commissions

Even without applying for ClickBank credit card processing, you can earn referral commissions on thousands of ClickBank Marketplace products.

5. Eliminate Sales Tax Problems

Since you must agree to sell your product to ClickBank for resale, ClickBank becomes the retailer responsible for collecting sales taxes -- not you. ClickBank will not be subject to sales taxes in most jurisdictions. ClickBank is registered for European Union (EU) purposes and adds the appropriate Value Added Tax (VAT) to each applicable transaction.

6. Accept PayPal

ClickBank now accepts PayPal as a payment method. According to PayPal.com, PayPal has "more than 86.6 million accounts in 56 countries and regions ...growing by 83,000 a day."

7. Automated Product Delivery

After purchasing your product through ClickBank, the customer is redirected to a "thank you" page. This page may contain information about how the customer can download your product, thus automating your product delivery.

RESOURCE BOX:

J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years.

To learn more about accepting credit cards, visit http://www.yenommarketinginc.com/creditcards.html

For profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/

Credit Card Processing and the Pitfalls

2008-01-03T01:04:00.000-08:00

Disadvantages of Credit Card Processing

The benefits of credit card processing online usually outweigh the disadvantages. Unfortunately there are some pitfalls involved with credit card processing you should be aware of. The more knowledge you have going into a situation the more likely you are to come out of it ahead.

One of the biggest pitfalls associated with credit card processing is refunds or charge backs. Of these charge backs are potentially the most damaging. Most merchant account providers charge a hefty fee for any chargebacks they have to process. Some will close your account if you have too many so it is best you avoid them altogether.

There are ways you can reduce refunds or chargebacks. One you should make sure you have a clearly defined refund policy. You could for example limit the amount of time a customer has to request a refund. You should also ensure that your customers have a legitimate reason to ask for a refund. You can minimize refund requests by offering special bonuses to encourage better customer satisfaction.

Another way to limit chargebacks is by being open and up front about your business. If you use a third party processor for example to handle credit card payments you better let your customers know. Otherwise they may not recognize the third parties name when they receive their credit card statement and ask for a refund. This is an honest but also costly mistake.

You should also make sure you have adequate customer service which may help you iron out kinks with customers before a refund is requested. Good customer service goes a long way to preventing future problems with credit card processing.

Article by Frank Owen, visit his web site on credit card processing for more information on credit card processing http://www.creditcardprocessinginsider.com

The History of Credit Card Processing in America

2007-12-30T23:01:00.001-08:00

Charge cards can be dated back to the early 1900s. In 1914, what seems purely as a customer service goodwill gesture, Western Union gave some of their prominent (preferred) customers a metal card to be used in deferring payments-interest free-on services used. One source said this card became known as "Metal Money."

As time progressed so did the charge card. Up till the start of WW II, department stores, communication companies, travel and delivery companies, and oil companies had extended this service to their preferred customers. These company based charge cards were limited by their use exclusively through the issuing company. These companies issued the cards, processed the transactions, and collected the debts from the customer.

In WW II, the use of credit and charge cards was prohibited.

After WW II, credit cards became more accessible to the general public After seeing trends indicating increased travel and spending among those who held charge cards, banks became interested in credit cards-after all they were in the business of lending money, and they saw the profit potential behind attaching interest to the cards.

When banks first got into the credit card business, they were only issuing cards to local consumers. In 1951, the Franklin National Bank in New York, issued the "Charge It" card. Which allowed customers to charge purchases at local stores. This charge card system worked much like credit card systems work today. The consumer made a purchase using the card; the merchant performed a credit authorization from the network, then completed the sale. The bank would reimburse the retailer and collect the debt from the consumer at a later date. Other banks across the nation were impressed with the success of this process that within several years after the "Charge It" card they offered their customers similar services for making purchases at local retail establishments.

In the 1950s the first charge card was developed that allowed consumers to make charges for services and goods from a variety of retail outlets. This innovation was the Diner's Club charge card, which was established for business men to use for travel and entertainment expenses. The Diner's Club card gave its members up to 60-days to make payment.

The first "revolving-credit" card was issued in the State of California by the Bank of America. The card, BankAmericard, was marketed all across the state. This card set another milestone in the development of the credit card industry. The BankAmericard was the first card to give cardholders payment options. Payment options like today's cards, let consumers pay the debt in whole or they could make monthly minimum payments while the banks charged interest on the remaining balances.

By the 1960s, bank card associations begun to emerge. In 1965, Bank of America issued licensing agreements to other banks-both large and small-across the nation. These licensing agreements permitted regional banks to issue BankAmericards and to exchange transactions through issuing banks.

By 1969, most independent bank charge cards had been converted over to either the BankAmericard or Master Charge cards.

Eventually, charge card issuing and processing became too large of a task for the banking industry to handle. That is what lead to the emergence of credit card associations such as Interlink Association, Western States Bank Card Association, and National BankAmericard Inc. Current associations include Visa and Master Card.

The next major changes in the credit card industry involved streamlining transaction processing and reducing credit card fraud. In the early 1970s, electronic authorizations allowed the retail establishment to get approval for credit card transactions 24 hours per day.

By the mid 1970s, the credit card industry started exploring international waters, but had some difficulty because of the name association; "America" in BankAmericard, for instance. This lead to the renaming of BankAmericard to Visa and Master Charge followed suit by changing its name to Master Card.

By 1979, electronic processing was improving. Electronic dial up terminals and magnetic strips on the back of credit cards allowed retailers to swipe the customer's credit card through the dial up terminal, which accessed issuing bank card holder information. This process gave authorizations and processed settlement agreements in a mater of 1-2 minutes. An added benefit was paper reduction.

The early 1980s, gave birth to the first Automatic Teller Machines (ATMs), which allowed consumers access to cash, and to make deposits, 24 hours a day across our nation and in other countries as well. Credit card holders could access cash in different currencies.

Since its existence, Visa has been a leader in credit card innovation. Because of this they have emerged as the world's leading credit card association with over 1-billion cards being issued, and carrying over 50% of all credit card transactions conducted world wide.

"Visa (International) is a "not for profit" organization comprised of over 40,000 member Banks and MasterCard is a for "Profit" company who issues credit cards and sets and maintain rules for credit card acceptance and processing. They are both run by board members who are mostly high-level executives from their member banks and industry heavy hitters."

There are five leaders in the credit card industry: Visa International, MasterCard, American Express, Discover and Diner's Club. There are others trying to penetrate the industry like check processing companies, Euro Card, JCB and ATM companies but credit cards still account for over 90% of all e-commerce transactions!

Mike Knudtson is the co-founder of the Fastcharge Payment Gateway and the founder of merchant account provider Electronic Transfer, Inc.. He has helped thousands of merchants set up retail and ecommerce payment processing for their business. Electronic Transfer, Inc. is one of the leading merchant service companies serving merchants since 1989.

Business Credit Card Processing - The Benefits

2007-12-29T01:15:00.000-08:00

In developing a personal, home-based, or small community business, you may find that it will grow to the point that informal transactions are no longer advisable – this is where business credit card processing comes into the picture. You will need to upgrade your operational methods in order to provide customers with the highest quality of doing business with your company, which will undoubtedly include the benefits of business credit card processing.

Some merchants prefer to keep accounts on a cash-only basis. They believe that money transactions can be handled more quickly and accurately than business credit card processing. However, what they do not take into account is the amount of manual labor and the potential for human error that typically accompany cash transactions. That is why, as your business grows, it may be time to invest in a credit card processing system.

Inexpensive and easy to operate, a business credit card processing program will attract customers who enjoy the ease of doing business with your organization. They will not need to bring in the right amount of cash or worry about overspending. Instead, they can shop for your products and services with an easy mind, knowing that you will provide the convenience of a credit card payment system. Whether you sell used books or handmade baby clothes, a credit card payment option generally attracts more clients who are willing to spend more than the person who operates on a cash basis.

Wherever your business is headed, the going may be slow unless you decide to grow your operation with business credit card processing. Low monthly or per-transaction fees make this equipment upgrade very affordable, even to merchants who are still building a relatively small business. For example, some companies require a small monthly gateway fee of perhaps $20 to $25 or so in addition to a small rate per customer credit card transaction. You may have the choice of paying perhaps 1.5% or 1.75% or 15 to 25 cents for each swipe of the card. Some companies don’t even charge installation fees. A simply monthly statement reflects the amount of business your new system is bringing to the company. If after a few months you feel the program doesn’t work well for your operation, you can always stop using it and go back to the old way of doing things.

You can set up a retail credit card processing program using a swiped card method of processing payments. Or you can use MOTO for mainstream commerce. There is even an e-commerce option when you are ready for the next step. Most systems are compatible with numerous quality banking platforms for safe, easy processing. It is important to work with a credit card processing company that you can trust. Find one with a solid reputation for quality business dealings. Get in touch with staff members to ask questions and learn more about the equipment, service and maintenance, as well as possible benefits and problems with a credit card processor. Only then should you consider signing a contract for the valuable and exciting services provided by a business credit card processing program.

Do You Need Credit Card Processing Services?

2007-12-26T22:42:00.001-08:00

Are your customers asking for credit card processing services? If so, you may want to consider adding this service to your company’s Website in order to provide convenient payment methods that will bring back repeat business. Many companies today are moving more toward e-commerce, which means that if you want to avoid getting left behind, you should get ready to join the throng of professionals who are marching into the electronic age of doing business.

Although you may have relied on cash transactions up to now, you might find that is becoming more cumbersome to make correct change, accept checks that could bounce, and track delinquent payments, all while keeping track of each and every transaction. Farming out some of these tasks to hired help can be costly, which is why you may be able to benefit from credit card processing services. If you conduct business onsite at a primary facility, you can plug in a credit card processor and start taking credit payments immediately, which are far less likely to bounce than personal checks.

But you will first have to open a merchant account before establishing credit card processing services. Look for a longstanding bank with a solid reputation, one who currently offers merchant accounts to dependable business owners like you. Then be prepared to provide the required documentation that shows a stable credit history and a reasonable business plan that depends on credit card processing services. Upon approval, which can come within a few days, you will be able to purchase or rent credit card processing equipment and start accepting credit payments from your customers.

Credit card processing services can be established at your company’s Website. You do have a Website, don’t you? If not, that is the second important step into the 21st century that your company needs to take. Hire a Web designer or sketch a few ideas yourself. It need not be fancy or sophisticated, but rather a basic outline of your company’s services or products along with basic operating information. Then you will need to register a domain name for a small fee and then pay monthly “rental” fees to post your site in cyberspace. Hiring a designer or someone to maintain and update your site will cost a little more, although often you can find a high school or college student who can do this type of work at nominal cost. When your site is up and running and your merchant account is approved, you are ready to open the Website doors to current and new customers for business. They can browse at their convenience and pay by credit card without human assistance at each juncture. You can make money and save money at the same time.

If your company is growing, your customers are asking about credit payments, or you want to move forward with your business plan, give some thought to opening a merchant account, setting up an attractive Website, and adding the convenient, customer service option of credit card processing services.

The Purpose of a Credit Card Processing Company

2007-12-23T22:08:00.000-08:00

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 PS at www.unitedbankcardps.com

Credit Card Processing:Step by Step Processing

2007-12-20T22:06:00.001-08:00

This includes general information with a shipping address usually. This follows with the consumer entering payment information either into a form secured by a protocol or into an application, such as Internet Explorer or Netscape Navigator. With the secured form, the payment information is protected by Secure Sockets Layer as it is sent to the merchant. Using the payment software incorporated in the Web server, the merchant sends the encrypted transaction to the acquiring processor for authorization. The authorization is a request to hold funds for purchase. The acquiring processor either authorizes a certain amount of money or declines the transaction. An authorization reduces the available credit limit but does not actually put a charge on the customer's bill or move money to the merchant. If the transaction is authorized, a "capture" is the next step. The capture takes the information from the successful authorization and charges the authorized amount of money to the consumer's credit card merchant service. In line with bank card association rules, the merchant is not allowed to capture transactions until the ordered goods can be shipped, so there may be a time lag between the authorization and the capture .If the consumer cancels the order before it is captured, a "void" is generated; if the consumer returns goods after the transaction has been captured, a "credit" is generated.

The final step is to "settle" the transaction between the merchant and the acquiring processor. Captures and credits usually accumulate into a "batch" and are settled as a group. When a batch is submitted, the merchant's payment-enabled Web server connects with the acquiring processor to finalize the transactions and transfe the cash to merchant bank account

For more information on credit card processing,please visit http://www.paynetsystems.com

Advantages of Offshore Credit Card Processing

2007-12-18T22:21:00.001-08:00

In the ever-increasing global market we now live in, offshore merchant accounts enable Internet businesses to increase their sales volumes quite considerably.

One of the main reasons for the growth in the offshore processing industry is the large demand for high risk merchant processing. Many Internet businesses are now classified as high-risk businesses and cannot secure credit card processing at on-shore domestic US banks. Or large processors such as Pay Pal or 2Checkout have shut them down simply because they are classified as a “high-risk business”.

Internet businesses such as online Casinos / Poker, online Pharmacies, replica watch sellers, handbags, athletic shoe sellers, music download companies and travel companies now rely heavily on offshore processing because it offers confidential offshore credit card clearing within stable offshore jurisdictions that allow more favorable and less stringent legislation.

Other merchants require an offshore merchant account because their onshore merchant account has exceeded the sales volumes that they are allowed to process through their onshore domestic bank.

Offshore merchant accounts these days offer multi currency accounts with no hold-backs or reserves, allowing funds to be accepted and settled in many different currencies. Visa, MasterCard, American Express and Diners cards can now be accepted.

Funds can also be settled in offshore companies (International Business Companies or IBC) held in completely private offshore banks in offshore tax-free havens.

Most offshore merchant accounts can be fully integrated into an existing website allowing customers to pay directly on the merchant’s website without the business owner having to collect the customer’s credit card details. The current systems are fully automated, capturing all necessary information (name, credit card number, etc.) on the offshore merchant provider’s own secure transaction page, or a standard transaction page can be hosted on a merchant’s secure server for customers to fill out.

An offshore virtual terminal can also be established allowing merchants to process credit cards from an online terminal without the credit cards having to be present. The merchant only needs the details from the credit card to process in real time from any computer connected to the Internet. Offshore credit card merchant accounts are hands-down the most cost effective payment method for both merchant and customers, saving both time and money.

In fact it is safe to say if you are not accepting credit cards for your Internet business then you’re not a serious player in your industry.

Richard Price is the publisher of http://www.confidentialbanking.com, a resource and service for those seeking offshore banking services, and http://www.confidentialbanking.co.uk, offshore banking services for UK citizens.

Credit Card Processing on the Internet

2007-12-14T23:03:00.001-08:00

So you have finally finished your e-commerce web site, hired the best web publisher, added all the bells and whistles, outstanding graphics, and great merchandise. Now, how does your prospective customer pay you for your products? Clearly, it is necessary for your site to accept, and process credit card payments, in real time. Failure to do so, would result in a failing enterprise.

Before you can begin the application process, there are several standards that all credit card processors have set. Follow this checklist and you will save yourself a significant amount of time, and aggravation.

1) The checkout, and transaction pages must be secure. This protects the customer from credit card, or identity fraud, which has become epidemic. You achieve this “security” by installing a secure socket layer certificate, or SSL. SSL encrypts information being entered on your site as it is sent across the Internet, so hackers are unable to steal the transmitted information. This Certificate has become very common, and any web host would be able to assist you.

2) A robust Shopping Cart software that utilizes the highest degree of security, and is compatible with the credit card processor. This program must be able to receive, and process orders. Collect personal data, and securely transmit the credit card data from software to the credit card processor. Most importantly, the software should provide the building blocks for a complete, successful customer experience.

3) Your server must have a firewall, especially if you plan on storing the credit card information on your server. Basically, a firewall is a combination of software, and hardware, that inspects incoming data, and filters unwanted, or potentially destructive packets of information. This firewall will not allow hackers to enter your server, and steal sensitive information.

When all these conditions have been met, you are ready to contact your bank to open a credit card merchant’s account. Once your account is opened, your bank will suggest a credit card Gateway. A credit card Gateway receives the customer’s credit card information from your web site, approves or declines the charge, and ultimately transmits money to your bank.

Although the process appears to be very complicated, it is quite straightforward when you know what you are doing. Plan ahead, avoid frustration, and provide your customers with an easy, secure experience that will make them come back for more.

Ted Roxan is a contributing editor of Internet Credit Card Processing Resource

For more details on Internet merchant accounts and Credit Card processors go to: http://myinternet-credit-card-processing.com

Merchant Account Credit Card Processing

2007-12-12T23:19:00.001-08:00

How much do you really know about Merchant Account Credit Card Processing? If you’re like most new business owners today, you may have very little information about this valuable e-commerce service. A merchant account works much like a personal credit card account, except that you use it for company purposes. Providing your business with a merchant account not only conveys a credit line to promote growth, but it also can include a service package that supports new technical services that your company may adopt, including credit card processing services.

Think about the last time you visited a new shop or interesting tourist site. Finding something you wanted to purchase, you waited a few minutes in the checkout line behind other customers for your turn to pay. Presenting your desired purchase item to the cashier, she rings up the total as you take out a credit card.

“Sorry,” she says curtly, “cash only, since the boss hasn’t applied for Merchant Account Credit Card Processing yet. We don’t accept credit cards.”

“What!” You fume silently as you fumble in your purse for the requisite amount, realizing that using your last few dollars for this picturesque coffee table book will eat up your parking money and fast food stop, and wondering how anyone could neglect the option of “Merchant Account Credit Card Processing.” Ah, thankfully the drive-through restaurants take credit cards now, so with a sigh you scrape the last of your change from your billfold to pay the cashier. Turn this scenario around and you can understand how some of your customers might feel when your company accepts payments in cash only. Isn’t it time you started accepting credit card payments?

Think of your customers’ gratitude when they realize you offer Merchant Account Credit Card Processing options for their benefit. They will throng to your store, eager to buy things with their trusty credit card without the worry of trumping up a fistful of cash or writing a check that might deplete an account. With pride you can post a sign that lets them know before they reach the checkout line that you are ready to accept their credit cards. Your colleagues will take your business a little more seriously when they see how committed you are to serving your clients’ needs and staying current with e-commerce methods. Even your employees, if you have them, will appreciate the fact of having less collection work to do when monthly payments fail to materialize as scheduled or a check gets rejected at the bank.

Making the move to credit card processing may be the best decision of your professional career. Opening an account with a trusted lender will let you experiment with credit payment acceptance and measure your customers’ responses to this new option. Don’t be the last in your business community to get a commercial account that will let you try new services that can benefit your customers and your company. Join the electronic age now by applying for Merchant Account Credit Card Processing.

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

Setting Up Credit Card Processing Quickly

2007-12-07T22:22:00.001-08:00

Speed And Credit Card Processing

If you've just started your online business or have been in business for some time one day you might realize you suddenly need to process and accept credit cards quickly, even if you haven't in the past. It could be that a new customer has contacted you and wants to place an extremely large order. You may suddenly realize you are losing thousands of dollars in revenues by not processing credit cards. Regardless of the reason, you need to set up a credit card processing payment system fast.

What do you do? The best step you can take is to be informed. If you plan to open a merchant account in your name you may be surprised to find out you'll need time and lots of documentation in order to set up an account successfully. You can hire an intermediary but you will probably still have to deal with a bunch of paperwork and hassles that may prevent you from getting where you need to go quickly.

Fortunately you have another option, third party processors. You can set up credit card processing through many third party processors in 24 hours or less. Try 2Checkout or Paypal for example. Paypal will require that you verify certain information that could take 24 hours, but for the most part you should be able to process credit card payments relatively quickly. You can always switch to a merchant account under your name after you manage the crisis at hand!

Article by Frank Owen, visit his web site on credit card processing for more information on credit card processing http://www.creditcardprocessinginsider.com

Passing On Credit Card Processing Costs

2007-12-05T22:25:00.000-08:00

I recently spoke with a retail merchant who told me that she was not too concerned about the fees that we assess. While I was detailing all relevant rates, she asked me a very interesting question: “How much do you think that I should charge my customers to make up for my credit card processing costs?” She added, “I would like to charge a surcharge.”

I had an instant flashback to the time I placed a food order with a pizzeria. When I walked into the restaurant, the aroma whetted my appetite. Immersed in the beckoning scent, I barely heard the cashier when he told me that the bill was “$24.95.” Upon seeing my credit card, however, the cashier rang up “$26.50.” At the risk of appearing frugal, I did not question this action – only taking notice that it was blatantly unfair. Apparently, the restaurant owner decided to charge a surcharge when customers presented credit cards although I’m not certain how the cashier came up with a surcharge of $1.55. (What would have been the surcharge if my bill were $100 or more?)

Sharing this experience with the retail merchant, I explained that charging a surcharge is against Visa / MasterCard rules and violates the stipulations in merchant account contracts. Indeed, if a retail merchant decided to add a credit card payment surcharge, this business owner can lose the right to process credit cards and be placed on the infamous MATCH / Terminated Merchant File (TMF) where it would be exceedingly difficult to secure credit card processing capability with anyone.

The retail merchant protested and said, “But I know some fast food restaurants charge a surcharge for debit cards.” I answered, “If they are processing pin-based debit cards over the Visa / MasterCard network and charging a surcharge, they’re violating Visa / MasterCard terms.” I explained that if a business owner uses a credit card terminal to process both credit and debit cards over the Visa / MasterCard network, the retail merchant cannot indiscriminately surcharge those debit cards.

Of course, exceptions always exist and certain government and municipalities, and even the IRS, can charge a “convenience fee,” especially when credit cards are not a traditional form of payment. Moreover, merchants who accept Discover cards can institute a surcharge. After a federal antitrust suit was brought by a group of merchants who contended that they would have to raise prices if not allowed to surcharge, Discover yielded. They now permit merchants to surcharge. It may only be a matter of time before Visa and MasterCard consent or are forced to allow merchants the right to surcharge.

But I suggested an alternative to the retail merchant. Perhaps she can offer a cash discount for non-credit card payments. “This is perfectly acceptable,” I assured her.

This retail merchant wanted to know about the surcharge rules for online merchants. I extended a simple, “I don’t know,” and committed to researching this topic. Upon investigation, I learned the following:

Internet business owners can surcharge under the following conditions: a) A fixed surcharge is assessed, not a percentage of the sale; and b) Any surcharge must be assessed for all forms of payment – not just credit cards.

Of course, as a final thought, merchants may very well factor in the costs of credit card processing to determine the fees that they should charge their customers. Moreover, as always, it is imperative for merchants to reduce the costs of doing business. Finding an affordable merchant account provider will help in this endeavor.

Andy Lax is an account manager at IntelliCollect, a low cost credit card processing provider. Please visit the following site, http://www.intelli-collect.com to obtain an affordable, merchant-friendly merchant account.

Best Credit Card Processing Rates

2007-12-05T22:24:00.002-08:00

Everyone goes into business to make money, so why spend more of your profits on expensive transaction fees, Website maintenance, service agreements and high credit card processing rates? When you take time to shop for the best deals, you can save quite a bit of money that can be used to good purpose in other parts of your business. Start shopping for the best credit card processing rates and open a merchant account.

You will first need to find a reputable bank or credit union that will agree to extend a merchant account to you for this purpose. To get approved, you will need a solid credit history, a reasonable business plan, and documentation to show that you are able to manage the costs associated with credit card processing rates. Typically, these include an installation fee for credit card processing equipment, a monthly gateway fee for your financial host, a transaction fee of a few cents per each or an overall percentage total each month. You also may be offered Website service that will entail a hosting fee, a service contract cost, and a designer’s or updating service fee. Be sure to carefully read the terms of any contract that you receive. Never sign something that you don’t understand or with which you cannot completely agree. Your company may have to pay for a monthly minimum up to a certain number of transactions, after which the balance for that month do not require additional fees.

Credit card processing rates can vary by company or by processor program. Some companies charge no installation fee, while others require a one-time cost of a few hundred dollars, depending on the program’s complexity. You may have to pay between 15 and 25 cents per transaction, or you could opt to pay a monthly percentage for the entire amount of business generated by your credit card processing unit; this amount often falls below 2%.

It is always a good idea to compare rates among competing financial institutions. If you really like the services offered by one merchant account company but prefer the lower rates of a second company, tell the first one about the competitor’s lower rates, and perhaps the first company will meet or beat the lower cost in order to get your business. At first, you may want to keep the customer’s interests in mind when shopping for credit card processing rates. In other words, passing on the savings of a particular program to your customers will keep them coming back to do business with you. If your rates are too high or not competitive enough, they may decide to take their business elsewhere.

As you plan to set up your new credit card processing service rates, it may help to let them know in advance that this program is coming so they can prepare and perhaps even help to get the word out to other potential customers. Then, after installing your new credit card processor, you should not hear complaints that anyone was blindsided or treated unfairly. If someone does complain, politely remind them of the earlier notices.

When you are ready to start processing credit card payments, don’t be tempted to go for the option with the most features or the most sophisticated set-up. Opt for a system that will best suit your company needs and your customers’ interests, as well as offering the best credit card processing rates.

Credit Card Payment Processing

2007-12-05T22:24:00.001-08:00

Have you ever wondered what goes on whenever you make a transaction with your credit card? Do you actually know what happens whenever the merchant swipes your card into their point of sales (POS) system?

First, you hand your items to the cashier for him to compute the total amount of the items you purchased. The cashier then requests for your credit card. Your credit card is swiped on the POS system and the amount is registered into the device.

The POS system then sends an authorization request to your credit card company to validate the transaction. Although the total amount of your transaction has been sent, the credit is not yet deducted from your account at this moment. When the transaction is permitted, the credit is still not recorded. The amount of the purchase is simply reserved. A reply is sent to the POS system at the store informing if the transaction is valid or not.

If your transaction is approved, the POS system prints out a receipt for you. The cashier will give the receipt for you to sign, as this would be their means to reimburse the transaction from the bank. During closing time, or whenever the store makes inventory and match the daily transactions, a person at the store would be assigned to match all the recorded transactions in the POS system with the receipts that they have.

If everything turns out well, the store would then send a request to the bank for reimbursements for the transactions. The bank then sends a request to the credit card companies for each of the transactions that the store made. The credit card company would give the amount due to the bank but deduct an inter charge fee for each transactions. The amount collected by the bank is then deposited to the store’s account less a discount fee for the services rendered.

Credit Card Processing Software

2007-12-03T01:56:00.000-08:00

Nowadays, businesses, especially those that sell products and services online, should ensure that they are able to accept credit card payments from their customers. This is because given that most people are now very comfortable in using their credit card to pay for online purchases, businesses that do not accept credit card payments risk losing sales. The good news is that for businesses that wish to accept credits card payments; the tools that they need to do so are readily available from various sources, which includes merchant account providers, which play a major role in credit card payment processing. However, an Internet merchant account is not the only tool that online businesses need to be able to accept credit card payments, as there are also other equally important tools involved in credit card payment processing.

Software for credit card payment processing

Apart from Internet merchant accounts, there are other equally important tools that business owners use to help them accept credit card payments on their websites. Examples of these include software that helps in accepting and processing credit card payments. Some of the most commonly used software include IC Verify, PCAuthorize, and MacAuthorize, which are required in processing credit card payments. Another type of software that business owners could install on their website is the software that provides their customers with a shopping cart option, which allows them to keep track of their purchases that they have made so far. One of the most commonly used shopping cart software is Kickstart Cart, which is considered as one of the most convenient shopping cart software in the market today.

However, when installing shopping cart options on their websites, business owners should try as much as possible to use software that are very easy to use and which do not require many steps to use. This is because customers tend to get annoyed with shopping carts that requires too many steps to use and they may opt to go to other websites instead.

Apart from setting up an Internet merchant account, business owners also need to use other equally important tools that can help them accept credit card payment through their websites. Some of these include software that allows their customers to make purchases online. However, in picking the software that they would install on their websites, business owners need to make sure that the software they use are very user-friendly, as this can help them make the process of making online purchases more convenient for their customers.

Offshore Credit Card Processing

2007-11-29T21:57:00.001-08:00

Doing business online is like treading a razor sharp road. There is very little difference between a good and bad business situation. However, a secured, cost-effective and reliable method of payment collection through offshore credit card processing can make all the difference to the way you do business online. It can help you hold all information privacy, avail zero taxation and have protection from currency fluctuations

Offshore credit card processing enables you to effectively accept payments for the goods and services you sell online. You can accept payments in multiple currencies. Offshore credit card processing service can process various types of credit cards, be they Visa, MasterCard, Amex, JCB, Diners or Discover.

The order and payments processing procedure gets streamlined with an offshore credit card processing account. Your customers can make easy and quick purchases online through a secured server. Your card processing system is directly linked to your offshore merchant account. Therefore, you get excellent tax-reduction benefits.

Your business remains up 24/7. The transactions are authorized within a few seconds. Automated receipts are sent to you (the merchant) and the customers, instantly. The credit reserve is as low as 10%. Most of the offshore credit card processing services involve no hidden costs.

An offshore credit card processing service can reduce your charge back with active customer fraud screening and address verification systems (AVS). The transaction processing rates are 5% and upwards depending on the type and volume of your business. Add to it a small 0.75% transaction fee and 10% rolling reserve. However, with most of the offshore credit card processing accounts you do not have to pay gateway fees. There are no card processing dollar limits.

Offshore credit card processing provides comprehensive online credit card processing, rapid order processing, online merchant center, fraud and risk management and 24 hour dedicated support. Offshore credit card processing gives a turnkey payment processing solution. Such an account provides instantaneous online credit card processing. This helps in maximizing sales opportunities and customer satisfaction.

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.

Online Credit Card Processing

2007-11-29T21:56:00.002-08:00

For individuals and businesses that wish to sell products and services online, one of the most important things that they need to consider is the mode by which customers would pay for the products or services they buy online. Among the different modes of payments, the preferred option for most consumers is through their credit card because in recent years, consumers have become very comfortable with using their credit cards to make online purchases. Given this, it is very important for online companies to make sure that their website are able to process credit card payments. The process of doing so involves businesses setting up an Internet merchant account with a credit card processor, which plays a major role in allowing businesses and individuals to accept credit card payments online.

Internet merchant accounts

Internet merchant accounts are set up by businesses for the sole purpose of receiving credit card payments from the credit card companies of their customers. Usually, the funds or the payments made by credit card companies only stay in these accounts for less than half a day before the funds are transferred to the bank account of the business. Moreover, Internet merchant accounts provide the credit card processor of a business with an automatic way of handling credit card payments that are made online.

However, before setting up an Internet merchant account, business owners first need to understand the different terms involved in using one. One of these includes knowing what a payment gateway is. This is an online credit card processor that provides a path between a customer’s credit card account and the Internet merchant account of the online business. Their primary role is to verify the customer’s account information and the online business’s request to have the funds transferred to their bank account. Another important term is funds capture, which is the process where a transaction deposit is made on a business’s Internet merchant account. On the other hand, the term settlement means that the funds from a customer’s credit card account has been transferred to the business’ Internet merchant account.

For online companies, it is essential that their websites are able to process credit card payments, which makes it very important for them to set up an Internet merchant account. However, before setting up such an account, business owners first need to understand the different terms involved in the process of accepting credit card payments online. This is because doing so allows them to fully appreciate how the whole process works.

Genuineness of Credit Card Processing

2007-11-29T21:56:00.001-08:00

According to buyerzone,consumers increasingly are turning to plastic over paper when they open their wallets. Yet many small businesses still don't accept credit cards. If you're one of the laggards, the entire transaction may retain the impression of a spiritual ritual swipe a card, input some numbers and money magically appears in the bank. In reality, though, credit card transactions involve coordination between multiple high-speed computer networks.

How the Process Works: when a merchant makes a sale and swipes a customer's credit card, the card number, the amount and the merchant ID travel over the credit card processor's computer network. The credit card processor can either be a bank or a company that does nothing but provide credit card processing services. From the processor's network the transaction goes to a credit card computer network. If the customer is using Visa, for example, the transaction will go to Visa's network. In turn, the electronic transaction goes to the bank that actually issued the card. The bank then checks the account and verifies the customer has adequate credit to cover the purchase. The bank then sends the merchant an authorization over the network. Now the sale is complete, but the transaction is not no money has changed hands yet. At the end of the business day, the merchant sends that day's charges, in a batch, to the credit card network for processing. The transactions travel via the merchant's credit card processor. Individual transactions are then stripped out and sent back to the individual cardholders' banks. Banks then debit cardholders' accounts and make appropriate payments to the merchant's credit card processor through the Federal Reserve Bank's Automated Clearing House. The credit card processing then includes credits the merchant's bank account for the transaction amount, minus its fees for the transaction. Those fees also go toward paying transaction fees to the issuing bank and the credit card network. Despite the use of computers, it can take two business days before the merchant's account is credited.

Opening a Merchant Account
In order to accept credit cards, you must open a merchant account with a bank. However, many banks have gotten out of the credit card processing business, and those that remain are often restless about servicing small businesses, particularly ones with limited operating histories. Many small businesses must therefore go through a specialized credit card processor or an independent sales organization, commonly referred to as an "ISO." Whether you use a bank or a credit card processor, you need a merchant account to receive credit card payments. Though businesses can contact credit card processors directly, banks unable or unwilling to process credit transactions often refer customers to an ISO to help them find a credit card processor and get the necessary equipment and training to begin accepting credit cards.

For more information on credit card processing,please visit http://www.paynetsystems.com

Online Credit Card Processing - How to Accept Credit Cards - Ecommerce 101

2007-11-29T21:55:00.002-08:00

I'm going to limit this discussion to Visa / MasterCard credit cards -- Amex and others operate slightly differently.

First, there is the bank that the consumer’s credit card is attached to. That bank is called the "acquiring institution" ... it handles the "credit" you have on your credit card.

Then, there is the merchant bank. That's where the business opens up a "merchant account" to be able to accept various forms of credit cards.

Some well-known credit card processors are First Data Merchant Services (FDMS), Nova and PaymentTech.

Note that the waters are even muddier in many cases, for example, Wells Fargo can act as every piece of the puzzle in some circumstances.

So, what actually happens when you purchase something at Wal-Mart using a credit card?

a) You place your items from your "basket" onto the counter and scan them. the checkout system provides a total.

b) You swipe your card through a "terminal", which reads the # off the magnetic stripe.

Be careful going "a-la-carte" with ecommerce credit-card services: if the gateway you chose can't talk to the processor your bank uses, or your software can't talk to the gateway, you're hosed. That situation was MUCH more common (things not working together) back in the mid/late 90's than it is today. However, most "brick and mortar" banks (like your local branch) still don’t have a clue about online credit-card processing … if they attempt to sell you a "leased terminal", it’s best to run the other way and find a solution from reputable online source.

As an online merchant looking to accept credit cards, all you really need to know is that all services purchased through a single solution will usually work together seemlessly.

Credit Card Processing: How to Legally Beat the System by Passing Processing Fees to Customers

2007-11-29T21:55:00.001-08:00

Imposing surcharges on credit card transactions is illegal, and it will only lead to problems. The secret to beating the credit card processing system is not charging more for credit card sales, but instead is charging less for cash sales. It may sound like the same thing, but there is a big difference.

The increasing costs associated with accepting credit cards are leaving many merchants searching for ways to pass along at least a portion of processing expenses to their customers. Card originators such as VISA and MasterCard are becoming wary of this new trend and are enforcing strict regulations specifically designed to hinder any such efforts by merchants to impose surcharges on credit card purchases.

Discount fees, transaction costs, and other expenses associated with the acceptance of electronic bank cards (credit and debit cards) are putting a strangle hold on to the NET profits of businesses of all sizes. To help minimize the impact that processing costs are having on profits, many businesses are charging a surcharge to customers that choose to pay for products or services using a credit or debit card.

Card originators such as VISA, MasterCard, American Express, and Discover have a lot to lose if the practice of imposing surcharges on credit card transactions becomes popular among merchants. When merchants impose surcharges on credit transactions, they make purchasing on credit a less appealing option to consumers, and many consumers choose to avoid the additional cost by simply paying with cash or a check. A decrease in the use of credit cards by consumers translates directly into lost revenue for processing banks. Not only do banks lose out on the processing fees that they would have collected from the merchant, but they lose any finance charges that would have been incurred by the customer as well.

You may wonder why so many businesses still choose to place a surcharge on credit transactions, even though it is strictly forbidden in the processing agreement they had to sign when opening their merchant account. Quite frankly, many business people choose to ignore this clause in their processing agreement and impose a surcharge anyway. This approach is not recommended. When and if these businesses are discovered, their merchant accounts will be terminated, and they may even be placed on the Terminated Merchant File (TMF) which will make it nearly impossible for them to acquire another merchant account.

Card originators and banks have control over credit card (bankcard) transactions, and they can legally ban a merchant from imposing surcharges. However, they do not have any legal control over other forms of payment such as cash and checks. The largest card originator (VISA) has even published information stating that, "You may, however, offer a discount for cash transactions, provided that the offer is clearly disclosed to customers and the cash piece is presented as a discount from the standard price charged for all other forms of payment".1

Most merchant accounts operate on a tiered discount pricing grid and, ironically, the secret to beating credit card processing fees is to impose tiered pricing on your products and services as well. The old saying, "if you can’t beat em', join em’" applies perfectly.

While you can’t charge extra for credit card sales, you can charge less for cash as long as all prices are clearly stated to customers, and the cash price is reflected as a discount from the original purchase price. For example: if the price tag on an item states that the item costs $10, the cash price must be represented as a discount from that price. The price tag for this particular item should look something like this:

Price: $10.00
5% discount for cash payment @ $9.50
5% Discount for Check Payment @ $9.50

By utilizing a tiered pricing grid, merchants can alleviate the cost of accepting credit cards, while still providing their customers with the freedom to choose their preferred method of payment.

1. Published by VISA in the Card Acceptance and Chargeback Management Guide for VISA Merchants,
Jack Lang is the senior contributor member at http://www.merchantcouncil.org. The Merchant Council is a free resource dedicated to assisting businesses obtain and manage credit card processing and merchant account services. A wealth of merchant account information can be found at MerchantCouncil.org.