Does Free Credit Card Processing Exist

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.

Small Business Credit Card Processing

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.

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.

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

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.

Choosing the Right Credit Card Processing Company

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:

1. Make sure that you can easily find their fax number
2. Make sure that reaching them by E-Mail is possible and readily available.
3. Check out their support hours, the best companies offer support 24 hours a day, 7 days a week.
4. Does the company provide you with a toll-free telephone number? This is a positive for any company.
5. 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.