Merchant Services Credit Card Processing

Merchant Services Credit Card Processing

Insofar as choosing a good merchant processor, all are not created equal. Having been around the block several times on this issue, and doing business with a host of different types of merchant processing companies,. I have come to the conclusion that most are dishonest if not outright liars. Many times this is the case simply because many of these larger companies are based on an antiquated and outmoded business model.
This outmoded model not only puts the customer in a precarious position, but also tends to alienate, dissociate, and generally make unhappy customers.

I had almost had enough of merchant processing companies, and was ready to throw in the towel. I was tired of being promised free terminals, and other assorted fake bait to get me to go with their company.

I noticed that none of these companies had ever provided me with any type of tangible incentive to go with them either. Being quite an un-trusting consumer myself, I decided to deeply investigate the different rates and offers, all the different major player companies, and do some heavy and sustained research on what companies were offering and which plans did what and so on.

The company that came out on top is called First Data Independent Services or FDIS. If you are looking for a fast and easy merchant account or credit card processing terminal they are clearly the people to call. With an unbeatable affiliate program, you can offset your costs even to the point of negating your own merchant bill altogether!

"Every month I get a check from first data that helps me dramatically offset my own costs. I don't know of any other business in the merchant processing arena that offers this type of service."

6 Factors Why Wireless Credit Card Processing Is Best For Your Business

6 Factors Why Wireless Credit Card Processing Is Best For Your Business

by Michael Rupkalvis

In today's competition , it's increasingly vital to be able to process credit card payments from clientele.

Buyers of goods and services enjoy the convenience and protection got by utilizing their credit or debit card to buy goods and services - so most people avoid lugging that much cash on them. Additionally, surveys have shown receiving payments by credit card in your business will accelerate your turnover.

Don't get baffled , therefore, that debit and credit cards are rising in popularity among merchants and consumers alike. To further popularize payment by card in retail environments, merchants need to use credit card processing machines to carry out the payment process.

Wireless processors are a recent technological phenomenon . Similar to all technology, when wireless processors first broke into the market they were very expensive; and, wireless coverage stayed limited because of limited popularity.

The cost of wireless credit card terminals as well as costs of service have plummeted in the last two years, because of more manufacturers and products entering the market owing to increased acceptance. Wireless credit card machines have emerged as a cost effective processing device-just as much for weekends-only type of merchants selling vending their wares at trade shows. With their increasing popularity, wireless processors network coverage has developed a lot.

Consider these 6 primary reasons why businesses need wireless processors :

1. Faster To Swipe Than Key A Transaction:

Whereas keyed processing machines are relatively slow, Wireless credit card machines are much faster. Buyers are likely to smile, when you don't keep them waiting before you give them a receipt. Time saved while checking out affords you more time to close further deals.

2. Ease Of Use:

Wireless credit card machines are easy to use. The devices involve swiping a credit card through the wireless terminal swiper, following that, it ptints a recipt for the real time transaction, for you to hand over to your client. The complete process takes approx about three seconds; keying in can take one or more minutes and the customers are given written receipts.

3. Real Time Approvals :

Wireless credit card machines can employ technology of cellular phones to okay 'live' trades. It minimizes risk associated with processing bad credit cards, only to repent once you have time to process it.

4. Lower Discount Rate: MasterCard gives merchants an inexpensive discount rate for swiping card rather than keying. You save time while swiping debit and credit cards through a wireless payment processing terminal but you save money in the form of processing fees as well.

5. Tools For Reporting Online: Doubt if you charged a customer's card the correct amount? Do you need to investigate a trade nevertheless, you don't want to wait till you get a monthly statement generated by the processor? Most wireless processors accounts are accompanied by a live reporting device that let's you check the wireless processor's transaction history.

6. Proactive Retailing Catalyzed: In a retailer's shoes, you want to go to the customer in your trading. That implies that you don't wait for your customer to come to you. In dog-eat-dog competition, the less you wait for the buyer to come to you , the more likely you are to close a deal. Wireless credit card machines let you sell aggressively, as they are mobile, letting you take them to your point of sale.

Thus, wireless processors allow 'mobile' businesses to receive credit card payments (e.g. trade shows, taxis, flea markets, service industry, sales people etc). Wireless credit card machines are extremely importantfor sellers who like to take their business to their customers.

Give Your Credit Card Processing Great Technical Support

Give Your Credit Card Processing Great Technical Support

by Jim Osterman

If you own a business online and you're looking to make the leap into credit card processing there will be several factors to consider. Among them are how much experience the merchant accounts provider has with businesses like yours, what their pricing structure is and what their references say.
But don't sign any deal until you thoroughly investigate any contending company's technical support. Having tech support is like being a member of an emergency auto club; you hope you'll never need it but when you do you are so glad you made the investment.

Because when you are processing credit cards online, if a problem ever arises this isn't like an mp3 music-downloading program you added to your computer. You're not going to be able to troubleshoot the problem on your own. Credit card online processing has too many players and too much security for you to make the repair.

If something goes wrong with your merchant services you're going to need someone who knows what to look for, how to diagnose the problem and how to fix it quickly.

Because when you don't have that here is your retailing nightmare. You have several customers shopping your site. They are gathering their purchases and head for checkout. But because of a glitch somewhere they can't pay for their purchases.

You see there is a problem and call the help desk. But you get put on hold because no one is there. Or they have gone home for the day.

Then something like the following may happen. Your customers' screen freeze and they are afraid to reboot because there is no indication on the status of the transaction. Or they try and wait it out and their session runs its course and logs them off the site.

And whether it's the above scenarios, or ones like that, the bottom line is that they are going to click over to a site that isn't having problems, and take their business away from you -- perhaps forever.

Think about it -- what will that cost you? Maybe you can't put a price on love, but a person with an online business with poor tech support can put a price on consumer anger.

So if you are considering a company for credit card online processing services you need to make sure that their technical support people are available 24/7. Your online store never closes, so the people making sure it stays online should always be there for you. And this is an area where they need to bat 1.000 -- there's no room for anything less.

It won't even hurt to see if you can't give it a test before you sign on. Make a call later in the evening or on the weekend. See how fast that call gets answered. Or do you get an automated service that tries to dance you through several prompts before you have the option to take to a real person?

You will consider a number of companies, but make sure any provider that you may sign with can prove they have superior customer service and technical support. Hopefully you will never need it, but you'll sleep better knowing its there.

How to get the best michigan credit card processing

How to get the best michigan credit card processing

by simon uzoma

Before you even get close to making a decision on a michigan credit card processing account company, make some research by spending some time cruising through a half-dozen provider Web sites.
Most sites will include a list of charges and fees associated with doing business with them - and you might be surprised at the differences. Compare charges for things like transaction fees, internet processing gateway fees and statement/customer services fees, among others, It is easy to apply for an instant approval michigan credit card processing online. you have to make up your mind about which Michigan credit card processing company you would like to get your instant approval card from, you can apply simply by registering with the particular Michigan credit card processing company's website you decide to make business with.

All you have to do is fill an online form, providing your personal details to the company. Rest everything is at a click-away distance. Make sure the michigan credit card processing company you register with is also the company that will be processing the transactions. Some use third-party processors that can slow down the amount of time it takes money to be put into your account.

And improved cash flow is one more advantage of allowing a michigan credit card processing on your Web store. However, there is one other factor to consider Just because a company says they charge a certain fee or has a certain policy doesn't mean there's not room to negotiate. It doesn't hurt to ask that there be no early-termination fee, or to request several specific parameters whereby that fee is waived for poor customer service. keep in mind that this is your business we're talking about here, so even if adding michigan credit card processing does have you a little intimidated don't hesitate to ask as many questions as you need so that will insure a good decision. A good michigan credit card processing services company will take as much time as is needed to make sure you're happy with your decision.

Finally, never allow the decision to be based completely on who has the lowest rate. There is nothing wrong with saving money and getting a good deal, but often the low-price provider uses that claim as a tactic to hide fees that will drive up the cost. This is why it is so important to work with a company that walks you through the whole process and can justify what it charges. The established companies will be able to make their case that, after you consider service and capabilities, their deal is much better than the guy offering the "lowest" price.

What You Should Know About Credit Card Processing

What You Should Know About Credit Card Processing

by Jennifer Loganathan

No business in today's marketplace can survive without the ability to accept credit cards for payment for their products and services. More so, with the ever increasing popularity of online shopping and e-commerce, credit card acceptance has become a necessity and credit card processing is the key to accepting payments electronically. As most people in the United States prefer to not carry cash around, both due to the security issue (cash if stolen, cannot be replaced) as well as convenience (why carry bundles or cash when you can simply carry a plastic proxy with no technical spending limit?).

Even as debit cards, electronic checks and internet checks gain acceptance, credit cards are relatively the most popular form of online payments. How the whole process of payment through a credit card takes place warrants some understanding and technical clarification. First, credit card information has to be accepted, via a secure online form in case of internet shopping, or through a swipe terminal that transmits information to the processing backend. This backend acts as the processing unit which validates the credit card information supplied and provides an authorization to the acquirer or clearing house to exchange funds between the buyer and the seller. The acquirer then will deduct the credit limit from the buyer's credit card account and deposit funds into the merchant or seller's merchant account, or bank account (in case a third party credit card processor is used). The net amount deposited into the merchant's account will be the total sale or purchase amount, less the transaction fee as well as other variable fees such as AVS (address verification service) and CVV/CVC (card verification value or code).

The credit card processor acts as the intermediary or interface between the card reader or payment gateway (in case of e-commerce) and the credit card companies or issuing banks. In order to process each transaction, the credit card processor will charge a commission as well as some other fees, from the merchant selling the goods. For a buyer, there is no real direct charge for conducting a transaction, apart from any annual fees that may be charged by the issuing bank or any currency conversion charges in case of an international transaction.

Although typically credit card processing requires either physical equipment or a swipe card terminal, credit card transactions can be done remotely via the telephone or wirelessly through a wireless terminal as well. Such means are ideal for merchant situations where there are no telephone lines nearby, or worse, no electrical output to which the terminal can be connected. For instance, in a flea market or open air exhibit, a merchant can simply dial in a provided phone number, and provide the credit card information. All processing will be done remotely and an authorization can be obtained via the telephone itself. Wireless terminals are more effective in case the merchant has to make on-site presentations. For instance, a vacuum cleaner salesman could make a home demonstration and accept payment for the sale immediately, without having to even telephone anyone or go back to his office. The wireless terminal uses the GSM or CDMA technology, similar to that in cell phones. The basic difference between a regular terminal and a wireless terminal is that while the former uses a telephone line to connect to the processor, the wireless terminal connects wirelessly for credit card processing.

There are plenty of options to choose from, when it comes to credit card processing. Obtaining a merchant account through a specialist merchant account provider and a third party credit card processor are common. With intense competition in the market, there are many offers available to choose from. Some of the key considerations in selecting a partner for credit card processing are per transaction fees, set up and maintenance costs and account management facilities offered by the credit card processor or merchant account provider. In addition to these typical considerations, it is important to evaluate the seller protection policy, especially if you're a high risk merchant and are likely to receive a lot of chargebacks. Finally, technical support (such as 24X7 customer support, which is often available through offshore merchant accounts), the frequency of funds transfer (for instance, some vendors may transmit the funds only once every month) and fraud scrubbing are of critical importance.

What is Credit Card Processing?

What is Credit Card Processing?

by Jennifer Loganathan

If you were reading this article twenty, fifteen or even ten years ago, chances are you would be reading it in a magazine or an industry or trade publication and not on your computer, in your office (hopefully home office), but probably on your laptop in an airport, because your flight was delayed, again. It's a simple concept that has been around since the inception of credit cards and that is, credit card processing.

We're going to get back to the definition later, but for now, let's concentrate on how credit card processing can help you, the merchant. Most importantly, the ability to process credit cards is hopefully something you're doing now, but maybe you're unsure if you're getting the best deal or have had issues with your current processor, bank or merchant service provider. Some of you don't take credit cards at all; for whatever reasons they're not good enough and you're losing business every day that you do not. And finally, some of you had one, lost it or gave it up and realize that it is again necessary, but want to do it properly and through the proper channels. All of these circumstances my readers may be in can be answered easily; you should be dealing with a merchant service provider. The simple answer is that merchant service providers can tailor programs and services specifically to your credit card processing needs.

Whether you take cards in person and swipe them through a terminal or you receive card information via the internet or telephone, you're looking at a minimum three day process to receive your money. At the end of the first day you're going to close your batch of sales and submit them (this is done automatically). On the second day, probably before you wake up, the file you sent settles with the bank. By the end of day two, that settlement file is delivered to the bank. At the beginning if day three, your account is funded. This is a basic funding flow, if you process checks online as well that is a separate file and can take longer. As every business and industry has its own set of needs; merchant service providers are a great way of selecting extra services that can enhance your userability and ease of daily fund processing and tracking. Some of these services include ACH check processing, help obtaining a credit card terminal, online reporting tools, virtual terminal for card-not-present transactions, gateway for your internet business, fraud scrubbing for your internet transactions, third-party verification services, and multi-currency processing.

3 Different Credit Card Pricing Methods

There are three pricing methods that you should be aware of, so you know which one may be the best fit for you.

The first is Pass Through, which gives the merchant a choice of per item, per auth, or per basis points. It also has an interchange rate plus per item, dues as well as assessment all passed through to the merchant. There is a monthly fee for this method.

The second is the Tiered method which is for both per item and standard bumps. A 2-tier (for both credit cards and check cards), it has two rates, Qual and Non-Qual; and 3-Tier (for both credit cards and check cards), has three rates, Qual, Mid-Qual, and Non-Qual.

Lastly Bill back, which gives the merchant a choice of a blended per item fee. Merchants that choose this method get a Targeted Discount Rate (2 target rates, one for credit, one for check card) and downgraded transactions are charged by bill back.

In closing, this article doesn't even come close to actually defining credit card processing, it would be like defining business, because it changes as fast as its customers do. You, the merchant have many choices when it comes to who and how your credit card customers' money reaches your bank account. Spend the time to contact a merchant service provider to see what services are right for you.

Credit Card Processing: Can High Risk Businesses Get A Merchant Account?

Credit Card Processing: Can High Risk Businesses Get A Merchant Account?

by Scott Burke

Is your business considered high risk? And can you still get a merchant account?

In credit card processing, there are many different reasons why a business may be considered high risk.

* First, it may be the actual business industry that has been tagged "high risk", such as travel, multi-level marketing (MLM), e-commerce, aggregators or collection agencies.
* Second, the reason may simply be the business volume that places a business in the high risk category.
* And third, it may be a reflection of the business or the business owner's credit history.

The question still arises: Can High Risk Merchants Obtain a Merchant Account?

The answer is YES. But you have to know where to go for the expert advice and guidance needed so you and your business are safe from excessive expenses often associated with high risk merchant accounts.

Working with an expert in high risk merchant accounts is critical to the success of obtaining the best merchant account solution for your business.

5 Points to Consider When Selecting the Best Merchant Account for Your High Risk Business:

* Your application needs to be handled by a high risk professional expert
* Your high risk merchant account processor should have experience with merchants in your business industry
* The high risk merchant account processor needs to have access to numerous credit sources - including more liberal banks and offshore options
* If your business does have to be taken offshore, your high risk experts need to work on getting the lowest rate available
* All rates should be disclosed prior to contract with the high risk credit card processing company

3 Insider Tips To Ensure Approval for a High Risk Business Merchant Account:

* Do you have a poor credit rating? Be honest about disclosing any past financial challenges. Acknowledging previous liens, bankruptcies, judgments, etc. will only improve your credibility and alleviate one more barrier.
* Be open to offshore options as sometimes they can offer your business the best merchant account solution.
* Shop around for a credit card processor that has expert knowledge in high risk merchant account approval - and don't be afraid to ask questions. The more you educate yourself in the process, the more you will recognize a good high risk merchant account processor giving you intelligent, experienced answers to your questions.

Operating a high-risk business does not exclude you from being able to process credit cards. Like any business, you want to provide your customers with as many non-cash payment options as possible. It is statistically proven that accepting credit cards help generate revenues and stimulate impulse purchases.

Owning a high risk business doesn't mean you won't be able to open a merchant account. It does mean, however, that you may have to do a little more in setting one up that is right for your business. Do your "due diligence", shop around and ask questions to find a credit card processing company that specializes in high risk and offshore merchant accounts and will offer their expertise to businesses who fall into the high risk category.