Merchant Account

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

How to get Free Internet Merchant Accounts
By John Lynch

How to get Free Internet Merchant Accounts

This article will show small businesses how to get free
internet merchant accounts. If your business is to grow and
succeed, it is essential to accept online credit cards.

Benefits of accepting online credit cards.

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

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

·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. Free internet merchant accounts by
another name!

© John Lynch

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

Source: http://www.isnare.com

Merchant Account

2007-07-26T05:22:00.000-07:00

Merchant Accounts
By [http://ezinearticles.com/?expert=Marcus_Peterson]Marcus Peterson

An account where merchants can accept credit card payments is known as a merchant account. Merchant accounts can be acquired through credit card companies, banks, or any other payment processor. A merchant wanting to take credit card payments must have a merchant account.

There are three major forms of merchant accounts. One is the retail merchant account. This account generally offers the lowest transaction fees, but often comes with stringent rules. Retail merchant accounts mostly require credit card sales be done with the "card present." In other words, the card has to be swiped through a credit card terminal for the transaction to take place. Retail merchant accounts are usually linked with restaurants, small hotels and grocery stores. Retail merchant accounts are not suited for merchants who want to conduct business through the Internet or the mail.

Mail Order Telephone Order (MOTO) accounts generally charge higher transaction rates; these accounts are used when the credit cards cannot be physically utilized. In this case, merchants process the payments by entering the customer’s credit card data onto a personal computer, or through a standard web browser, where they can process the transaction on the payment service provider's website.

Internet merchant accounts are quite similar to MOTO accounts in that the credit card need not be physically used. However, these transactions can only be done through the Internet. Merchants with Internet accounts employ a payment service gateway or a virtual terminal to process credit card transactions.

It is imperative to choose the appropriate form of merchant account for the business you are conducting. Also, it is wise to carefully go through the terms of service of the providers, as many charge a fortune and have strict rules. [http://www.z-MerchantAccounts.com]Merchant Accounts provides detailed information on Merchant Accounts, Credit Card Merchant Accounts, Internet Merchant Accounts, About High Risk Merchant Accounts and more. Merchant Accounts is affiliated with [http://www.merchantservices-web.com]Internet Merchant Services.

Article Source: http://EzineArticles.com/?expert=Marcus_Peterson http://EzineArticles.com/?Merchant-Accounts&id=251460

Merchant Account

2007-07-24T05:24:00.000-07:00

Merchant Account Services
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole

Check out any store and you will find that people no longer find it viable to make payments in cash. The preferred mode of payment is the debit card or the credit card. No matter what your business, the best way to stay ahead is to give the customers the ease of making the payment in the mode they choose. This means if they don’t want to pay cash, you must have the provisions to accept credit card payments. In fact studies have shown that accepting credit payments can increase your sales manifold. To accept credit card payments, you will need an online merchant account with a bank, financial institution, or acquiring institutions. All these institutions charge a minimal amount of fees for their services, but then the fee is well worth the improvement in your business.

Your financial or acquiring institution should be able to provide a number of services. First and foremost they should be able to provide you personalized services in setting up your account. Your merchant account should have facilities for online trading, as also taking orders on the phone.

Now, suppose your business is an online store. This means, your customers can make orders merely by the click of a mouse. They can make their payments online through credit card. For this, there will be a form in which they will submit their details including that of their credit card. To accept online payment, you can link your account to any of the Internet gateway solution providers, which include Verisign, Orbital, or Fast Transact. You can link your order forms to these gateway companies, who will then process the transactions.

Then there is the phone line processing services. That means the customers can dial a toll free number, and provide the requisite information based on the voice prompts.

Another service is the POS (Credit card service), which enables you to take orders over the phone and fax and process them through a terminal machine.

You also have the option of a computer software program that can store your customer’s details, as these are beneficial for recurring payments. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.

Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Account-Services&id=144901

Merchant Account

2007-07-23T02:50:00.000-07:00

Just What Is A Merchant Account Anyway?
By Xavier A Arthurs

So, you have started a business online. To stay competitive and
keep the sales coming in, you wish to offer your customers the
option of purchasing with a credit card. But how do you do that?
One way is to open a merchant account. Let us take a look at
just what a merchant account is.

If you have never heard of a merchant account before, the
concept is really quite easy to understand. A special account is
created through a banking institution (usually the bank where
you do your business or personal banking) or a clearing house
(which is similar to a bank, with slight differences) which will
permit you to accept payment by credit cards. Any and all credit
card transactions will pass through online authorization and
ultimately be deposited into your account (once the credit card
charge has been approved).

Using a merchant account is really the easiest way to accept
credit card payments. There are other ways, but they can cost
more and be a much bigger business hassle. When a merchant
account is established and a company is willing to authorize
payments to your business online, your customers can begin using
their credit card numbers for purchases and you will receive
payment!

Actually, that is an over simplified explanation of what
happens. There are many steps that need to occur before you will
see any of the money from credit card payments.

Step 1 – Improve your website so credit card numbers can be
accepted.

Step 2 – Verify and approve the charge. This can be done by the
institution where you have a merchant account or by an
independent online authorization company. If you go with the
latter, be sure to do sufficient research. Going with an
inexpensive company may save you money up front, but if they
approve invalid credit cards you will pay much more!

Step 3 – Charge is authorized, so the details move to the
customer’s credit card processor. They debit the card and
deposit the money into your merchant account.

There are companies that provide these steps in an “all-in-one
package” deal. The choice of how you accept your credit card
payments online is up to you, but a great amount of searching
for the best and right company is necessary.

Looks easy, does it not? However, setting up a merchant account
may be trickier than you think. This is especially true if you
are just starting your online business. You may have to wait
until your business is established and can show its
profitability before a financial institution will give you the
desired merchant account.

About the Author: You can find out more and read reviews of the
best merchant account providers at
http://www.top-merchant-accounts.com

Source: http://www.isnare.com

Merchant Account

2007-07-20T04:37:00.000-07:00

Merchant Credit Card Terminals
By [http://ezinearticles.com/?expert=Kent_Pinkerton]Kent Pinkerton

Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.

A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.

At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.

There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.

Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards. [http://www.e-CreditCardTerminals.com]Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with [http://www.i-CreditCardProcessing.com]Credit Card Processing Software.

Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177

Merchant Account

2007-07-16T00:52:00.000-07:00

Mobile Credit Card Processing Equipment
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva

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. [http://www.i-CreditCardProcessing.com]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 [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.

Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Mobile-Credit-Card-Processing-Equipment&id=353158

Merchant Account

2007-07-14T00:54:00.000-07:00

Merchant Account

2007-07-13T05:19:00.000-07:00

Merchant Credit Card Services
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole

Studies have shown that you can increase your business sales manifold if you accept credit card payments from your customers. This is because most people are not like to carry cash around, and so using their debit card or credit card is their preferred mode of payment. Suppose, you own an online store where people can make orders by the click of the mouse. It follows naturally that you should be also in a position to accept credit card payments online. Then there may be situations where the people would prefer to make their orders by phone. There are companies that give a toll free number and the people can place their orders and give their credit card information based on voice prompts.

To accept credit card payments, you need to have an online merchant account with any financial institution, bank, or acquiring institutions. These institutions will deposit the money accepted through a website into your account. Apart from getting a merchant account, you must also get a payment gateway. As the name itself suggests, the payment gateway is a gateway, actually a code, which processes and validates the credit card information by sending the information provided to the credit card company and gets an accept or decline message. On getting the accept message, the gateway then transmits the amount from the website to the merchant account.

Address verification is the most important aspect of credit card services, as it is essential to fight against credit card fraud. Some credit card companies ask for the CID or the credit card identification digits.

Software such as the IC Verify (DOS winpopup), PCAuthorize (Windows), or MacAuthorize (Mac) These software are required to process the credit cards.

As a merchant, you can accept credit card information on your own website or on the website of the acquiring institutions, with whom you have your merchant account. These institutions charge a nominal fee for their services, but the increase in sales is well worth the investment. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.

Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Credit-Card-Services&id=144902

Merchant Account

2007-07-09T03:30:00.000-07:00

Internet Merchant Accounts
By [http://ezinearticles.com/?expert=Marcus_Peterson]Marcus Peterson

An Internet merchant account permits merchants to accept payment for their services over the Internet. Once a merchant has decided to accept credit cards over the Internet, he must obtain a payment gateway or a virtual terminal, and a bank or a processor, to process the credit card transactions.

A payment gateway is a safe Internet bridge between the credit card processing networks and the merchant's website. The merchant can carry out online credit card transactions or other payment processing methods (for example, electronic checks) through the payment gateway.

There are a couple of ways for a website owner to carry out online credit card processing or some other alternative payment processing. The virtual terminal facilitates manual authorization and processing of credit cards, as well as the checking of payment transactions, from any computer. Here, an Internet connection is essential. The virtual terminal is a substitute for a standard authorization terminal, and allows a business owner to process transactions without the need for a check or a credit card to be present. All the business owner requires is the basic information from the check, credit card and the consumer to store the data on a computer with an Internet connection.

WebLink is another alternative. This permits Internet-based businesses to approve and process transactions without the need to enter consumer and credit card information. When a customer is ready to purchase products or other services from the web site, he gives the necessary information. The function of WebLink is to capture the information (which includes name, credit card number, etc.) from the website's secure transaction page. When the authorization is complete, the customer gets a reply, either an approval or a decline, within seconds. The business owner is also informed of the same. Transactions are routinely settled each day and funded within a few days to the business owner's bank account. [http://www.z-MerchantAccounts.com]Merchant Accounts provides detailed information on Merchant Accounts, Credit Card Merchant Accounts, Internet Merchant Accounts, About High Risk Merchant Accounts and more. Merchant Accounts is affiliated with [http://www.merchantservices-web.com]Internet Merchant Services.

Article Source: http://EzineArticles.com/?expert=Marcus_Peterson http://EzineArticles.com/?Internet-Merchant-Accounts&id=251490

Merchant Account

2007-07-06T04:22:00.000-07:00

Merchant Account

2007-07-04T03:09:00.001-07:00

Apply For Merchant Account?
By Shane Penrod

Who Should Apply For Merchant Account Status? Why you, of
course! If you are a business owner of a small company or even
a home-based business, there is no reason why you should not be
eligible for a merchant account if you have maintained a
positive credit history and are willing to make timely payments
on future accounts. A merchant account will open e-commerce
doors to let you accept credit payments at your place of
business, over the telephone, on the run, or at your Website.
What could be easier than installing a credit processor to
start accepting credit card payments from eager customers?

When Should You Apply For Merchant Account Status? There’s no
time like the present! Start browsing the Web by using a search
engine to find sites affiliated with “merchant account.” You
will be amazed by how many there are. You can even find sites
listed as “merchant account lead sites” to point you to a
variety of lenders who will accept your application for a
merchant account and provide a timely response. Your chances of
approval are good if your company has a fairly solid credit
history. The rates are not too bad at present; don’t wait for
them to go higher. Apply now to get a good deal.

Where Should You Apply For Merchant Account Status? While
browsing Internet links, you will come across various kinds of
lenders. It goes without saying you should avoid those with an
unfamiliar name or questionable background. Stick to companies
you know and trust, like American Express or a local banker, to
make sure you don’t become the victim of a scam and lose your
shirt. Check out the terms and fees for each lender so you can
get good terms for your account. Some charge an online
application fee, while others might charge a membership fee.
Avoid paying any charges that you don’t have to.

Why Should You Apply For Merchant Account Status? Because a
merchant account will move your company into the 21st century.
Look around at your competitors; how many already have a
merchant account? What percentage of your customers would be
willing to pay with credit if you could provide credit payment
services with the help of a merchant account? Research suggests
that people who pay with credit cards tend to buy more than
those who pay with cash. Take advantage of this phenomenon to
make it easy for your customers to buy when they like as much
as they like by allowing them to pay with credit cards. As your
revenues increase, your profits will soar. Your customers will
be happy, and so will you.

With a merchant account, you can set up credit processing
options at your store, over the telephone, in your company car,
or at your Internet site. Marketing your goods and facilitating
customer payments will never be easier than with a merchant
services account. Make time to check out this exciting
opportunity to build your business when you Apply for Merchant
Account Status!

About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com

Source: http://www.isnare.com

Merchant Account

2007-07-03T23:05:00.000-07:00

Internet Merchant Account Provider
By Alison Cole

An Internet merchant account is an account with a bank or a financial institution that allows a businessman to accept credit card payments from his clients via the Internet. The payment gateway essentially transmits the required data to the Internet merchant account provider. Most local banks, however, do not offer Internet merchant account capability.

There are reasons why local banks or financial institutions do not want to give online merchant accounts. One is because transactions through the Internet are completely unlike face-to-face transactions, where a signature from the customer is required to approve the purchase. Thus, online truncations are deemed susceptible to credit card fraud. When choosing an Internet merchant account provider, fraud protection should be one of your major considerations.

So, how much will it cost? Comprehending the costs of your merchant provider can be complicated. Characteristically, an Internet merchant account will have certain costs.

Many Internet merchant accounts require a fee for application. This fee, purportedly, is to cover their expenses for processing the application. In the case that you eventually do not open an Internet merchant account, they will still ask for the initial payment. Many providers waive these up front application fees, and it is recommended that one chooses a provider that does not require up front application fees.

Almost all Internet merchant providers need a “statement fee"" (as the monthly fee is commonly named); this is simply a different way to cover costs and make some money. It is difficult to find providers who do not ask for this type of payment.

Then there is the discount rate, which is usually between 2 to 4 percent. The discount rate is actually the sales commission that the provider earns on every sale. For instance, if the discount rate is 3% and you get a sale over your web site for $10, you will owe 30 cents to the Internet merchant provider.

The fixed transaction fee is somewhere between $0.20 and $0.30. It is the fixed fee portion of every sale. The fixed transaction fee, unlike the discount fee, is the same for every transaction. Whether you get a $10 sale or a $50 sale, the transaction fee will not change.

Also, there is the termination fee that can apply if you cancel your account within a particular period of time (generally a year). There are some merchant providers who require a three-year commitment from your side.

If a customer requests for a refund, an Internet merchant provider can charge you a separate fee (somewhere around $20).

Merchant Account Providers provides detailed information on Merchant Account Providers, Internet Merchant Account Provider, Merchant Account Service Providers, Become a Merchant Account Provider and more. Merchant Account Providers is affiliated with Free Webcam Chat.

Article Source: http://EzineArticles.com/?expert=Alison_Cole
http://EzineArticles.com/?Internet-Merchant-Account-Provider&id=273024

An Internet merchant account is an account with a bank or a financial institution that allows a businessman to accept credit card payments from his clients via the Internet. The payment gateway essentially transmits the required data to the Internet merchant account provider. Most local banks, however, do not offer Internet merchant account capability.

Merchant Account

2007-05-14T05:11:00.001-07:00

Internet Merchant Accounts For Innocents Abroad
By T. O' Donnell

If you want to sell on the internet, your need to accept credit
cards. To accept credit cards, you need a merchant account, or
access to one. There're two ways of getting this: Get your own
merchant account, or 'pimp' off someone else's.

The latter is the option most new merchants choose. You use a
third-party to process your payments, and they take percentage.
Here are a few popular ones:

PayPal.com (http://www.paypal.com)

I don't recommend them as your main processor. See
http://www.paypalsucks.com. PayPal is popular because it was
'firstest with the mostest' on auction sites. For this reason,
eBay bought them out. PayPalSucks.com alleges that if you have
a bad order they freeze your account, and can even dip into
your bank account to make up any shortfalls. Mitigating
circumstances are not taken into account. I've read enough
complaints about PayPal on webmaster forums to heed them.

The usual rejoinder is; "But I've never had any problems with
PayPal". To which is usually retorted "Just wait 'till you get
a chargeback!"

A chargeback occurs when someone asks their credit-card company
for a refund. They say they didn't get the goods, or they never
made the order, or the goods were not as advertised. This is
passed on to the processor, who in turn debits the merchant. Or
drops him entirely. You don't want too many of these.

I've used them for years for small amounts, with no problem,
but on the basis of others' complaints in webmaster forums, I
wouldn't use them for large ones. Don't leave large amounts 'on
deposit' in any internet-based company; they're not banks, and
even banks go bust occasionally.

The best use for PayPal is to entice customers who already use
it. Find another provider to be your main one. One like ...

2Checkout.com (http://www.2checkout.com)

This is a factoring service like PayPal. Unlike them, they have
a pretty good reputation with webmasters. Like PayPal, they
don't provide you with a merchant account; they process your
orders through their own.

This is why such sites have to be very stringent; they are
answerable to their own merchant account provider. Too many
bogus orders, and they go out of business.

This is why third-party factoring services like 2Checkout are
very useful to a newbie merchant: fraud prevention. They can
screen out suspicious orders.

Most merchants would like to think they can sell worldwide. The
fact is most of the world is poor; MOST countries can't afford
your goods. So some citizens try to get them fraudulently.

A smart merchant would bar most of the world from accessing his
cart, and only accept orders from the USA, Canada, western
Europe, Australia and New Zealand, and his home country. Harsh,
but you'll sleep better at night.

WorldPay (http://www.worldpay.com)

A well-regarded service. I found adding it to the Oscommerce
cart (http://www.oscommerce.com) a bit of a chore, but it
worked. More expensive to join than 2Checkout. You don't hear
many gripes about WorldPay, which is rare in webmaster circles.

ClickBank.com (http://www.clickbank.com)

Handy if you're selling a few items of inexpensive software to
start off your business. They'll let you up the price once
they're sure of you. I managed to get them to go up to $150
(whoo!). I was very jealous of their system. It's well designed
and extremely 'viral'; they're basically a huge affiliate
program. Join ClickBank, and others will try and sell your
product for you.

They allow you to block whole continents from trying to buy
your product, and that is good. The odds are that a $25 order
for an ebook, from a third-world country, is fraudulent.

If an order looks dodgy, it probably is. Contact the customer
by 'phone or email. If you don't get a satisfactory reply,
refund the card.

When you're making $1000+ a month, get your own merchant
account.

MerchantSeek (http://www.merchantseek.com)

A useful collection of affiliate links to merchant account and
processing providers. Scroll down their front page to their
search tool. You can find an account that suits your needs.
This is most helpful to non-U.S. merchants, or those seeking
'international merchant accounts'.

In the UK, look for 'merchant services' at:

Barclays bank (http://www.barclaycardmerchantservices.co.uk)
NatWest (http://www.natwest.com)
Bank Of Scotland (http://www.bankofscotland.co.uk)
Royal Bank Of Scotland (http://www.rbs.co.uk)
Streamline (http://www.streamline.com)

UK processing services are:
Secpay (http://www.secpay.com)
Netbanx (http://www.netinvest.co.uk)
Protx (http://www.protx.com)

Having one's own merchant account means paying less in
processing fees.

IMPORTANT: You should specify up-front that you are looking for
an internet merchant account. Internet transactions are viewed
as higher risk than those by bricks-and-mortar businesses. The
technical term is 'card not present'.

Some things you may need, if applying for an internet merchant
account of your own:

Business bank account;
Photocopy of a voided cheque for said account;
Copy of the articles of incorporation of your company;
Photocopy of your return policy information;
Trade references;
Photocopy of your driver's license or passport.

In short, you need to prove that both you and your company are
what you say they are. Your account provider is taking a chance
on you. You might send them a ton of bogus orders. A bank is a
business too, not a community service. Help them to make the
right decision! The more you can establish that you are
bona-fide, the lower the cost of your account.

Things to avoid, if you can:

a) Expensive credit-card processing software rental or
hire-purchase.
b) Monthly fees.
c) High discounts (the % of your sales they keep).
d) Fat fees up front (anything over $500 is a joke).
e) Salesmen calling you up with a spiel.
f) Getting lumbered with hiring their shopping cart as well.

Things to look out for at sites offering merchant accounts:

If you need to maintain a U.S. presence - full U.S.
incorporation, U.S. server, U.S. offices, U.S. bank account -
or NOT.

Also if they want a deposit, and the size of their application
fee. And the usual monthly minimums, discounts etc.

Avoid getting into any software purchase or equipment rental.
You can sort all that out later, for less money. There are
plenty of good payment gateways, like Authorize.net
(http://www.authorize.net) just itching for your business.

PS: Don't accept a merchant account from an Eastern European
bank. I did, some years ago. The bank went bust. One guy wailed
on Usenet that he'd lost $10,000 dollars. Luckily for me,
business was bad that year!

About the Author: T. O' Donnell (http://www.tigertom.com) is an
ecommerce consultant in London, UK. His latest projects are a
mortgage calculator and ebook, available at
http://www.tigertom.com/mortgages-uk.shtml

Source: http://www.isnare.com

Merchant Account

2007-05-12T02:10:00.001-07:00

Online Merchant Services
By Alison Cole

An online merchant service is one that enables you to make payments on the internet. Typically, online merchant services work through Internet merchant accounts that are provided through an acquiring bank. This acquirer effectively allows you to accept or make payments through credit cards online. As it is the case with almost any business decision, there are a number of both advantages as well as disadvantages to online systems of payment and also to other types of processors of credit card. On a general basis, the advantages tend to be tied to having a direct control of the system for processing the payment. On the flip side the disadvantages tend to revolve around factors like mechanics, logistics, and security. The responsibility for the entire process of payment is a very risky affair and needs to be contemplated to avoid any loopholes.

A major concern that a lot of people face is the costs incurred to obtain online merchant services. There are a multitude of potential fees and costs that are associated with even designing an ecommerce web site that would provide these services. If you are looking to set up such a web service to enhance your business process then you need to consider potential charges for the same. Various credit card merchant account fees will crop up from each provider who is involved in assisting you to establish your ecommerce web site. The merchant service set up will involve application fees, the actual set-up fees, not to mention yearly membership charges. There are also other factors like monthly statement charges and gateway access fees. The list is quite long and so you will need to look into it in a comprehensive manner as it is easy to misinterpret the fee structures. This is because very rarely are all the exact costs related to ecommerce revealed in a single place. However in the end the set up of such an online merchant service could prove to be extremely beneficial to your trade and could leverage your customer base.

Merchant Services provides detailed information on merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is affiliated with Internet Merchant Accounts.

Article Source: http://EzineArticles.com/?expert=Alison_Cole
http://EzineArticles.com/?Online-Merchant-Services&id=410024

Merchant Account

2007-05-11T02:27:00.000-07:00

How To Accept Credit Cards Without a Merchant Account
By J. Stephen Pope

To increase sales on your website, you must accept credit
cards. To process credit cards, you could apply for a
merchant account through your bank or other financial
institution.

Sometimes, though, you would be further ahead to use the
services of a credit card processor. This is especially
true when you are first starting out and have more
limited resources. In this way, you may process credit
card transactions without the high front-end costs and
requirements of a merchant account.

Here, then, are just a few ways of accepting credit cards
without a merchant account. I personally use all of these
vendors and can recommend them wholeheartedly.

1. Clickbank

If your product is downloadable (such as electronic books
or software), you might consider ClickBank.com . For a
$49.95 initial fee, you can process credit cards and
on-line cheques for $1.00 per transaction plus 7.5% of
sales.

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

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

2. PayPal

PayPal.com has no initial fees. For just 2.9% of sales
and $ .30 per transaction (and sometimes less), you can
receive money from anyone.

Also, you can pay others by credit card or chequing account
without supplying your personal credit information to the
payee. PayPal can be used to collect money from your
auctions, website sales, or even from friends or clients.

3. PaySystems

PaySystems.com can handle either intangible (downloadable)
or tangible (shippable) products. For an initial fee of
$49.00, you can accept all major credit cards as well as
online checks. Fees are just 3.95% of sales and $1.00 per
transaction. Alternatively, you may pay 5.5% of sales and
$ .35 per transaction.

For this, you receive shopping cart, integration with
third-party affiliate programs (such as ClixGalore.com ),
fraud screening, multi-currency transactions, toll-free
support, marketing tools, and more.

For more information on how to accept credit cards without
a merchant account, visit:
http://www.yenommarketinginc.com/creditcards.html

RESOURCE BOX:

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

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

Article Source: http://EzineArticles.com/?expert=J._Stephen_Pope
http://EzineArticles.com/?How-To-Accept-Credit-Cards-Without-a-Merchant-Account&id=160

Merchant Account

2007-05-10T03:56:00.000-07:00

Getting a Real Merchant Account or Using 3rd Party Processors Like PayPal(R) - Which is Better?
By Chris Rempel

A lot of folks see PayPal, ClickBank and other third-party agents as the optimal method of doing business excluding a Merchant Account. This view is substantiated because there is usually no application process, and a few companies, PayPal for example, do not have any fees up-front. This feature boosts their appeal to "shoestring" start-ups and companies that deal in online (digital) products. A bargain is not always the 'cheapest' product.

Why don't we discuss the real differences between going with a third-party company (such as PayPal) and setting up a merchant account of your own...

1. A regular merchant account will charge between $100 - $250 initially to set up, a minimum monthly fee (minimum charges incurred) of $25 and $5+ to send out statements. These companies will bill you somewhere around 1% to 4% or even more per transaction (discount rate) - this varies with your business type - and a majority also use some kind of flat-fee for transactions. These fees range from $0.05 to $0.25

In contrast, PayPal does not charge a set up fee. They do have a 2.9% discount rate and charge 30 cents for each transaction. CC Now lacks fees except a 9% per transaction charge. ClickBank's set-up fee is $49.95. They charge no monthly fee, but a transaction fee of $1 in addition to 7%. DigiBuy has a set-up fee of $29.95 and no monthly fee. They do charge 13.9% or $3 per transaction (you pay the larger fee).

To better explain the fees involved, essentially, as soon as you build up a noteworthy sales volume ($1000/month or more), the costs involved with utilizing companies such as ClickBank, CCNow and DigiBuy far exceed what you would pay for a true merchant account that really works with your business. The advertised discount rate is normally where most of the money is used anyway, and this is how third-parties usually take in all their money.

PayPal, however, has a quite affordable discount rate, and the sole extra charge incurred for a regular account is the 30 cents transaction fee. In fact, if the average charges of a traditional merchant account are compared with PayPal's strictly from a "numbers" standpoint, the only time it is less expensive to use a merchant account is if your transactions are upwards of $50,000 monthly.

This perspective is only taking considering the actual numbers involved - and not any other variables that crop up when conducting business online, or offline...

2. Initially, it seems like PayPal is by far the better choice. Their low discount rate and transaction fees are without equal, and there is almost no entry impediment. You can start a PayPal account at no cost in a few minutes, and you are able to begin taking payments the moment your details are verified. For some small-time sellers and internet entrepreneurs, PayPal is just the ticket.

However, there are huge shortcomings that are not disclosed in the black and white contrast table that deals with cash - the value of the service could be different after you understand the following:

a. Many times these alternatives don't deal with support requests quickly; there have been times that delays persisted for several weeks.

b. Paypal does not give you access to your customer's credit card number, neither do any of the other third party service bureaus

c. A great majority of the alternatives cannot calculate shipping charges and taxes in their shopping carts

d. Some other companies are only serviceable for large profit-margin sales because of the expensive charges per sale (eg. DigiBuy charges 14% per sale which is huge)

e. Many alternatives to the merchant account lack a shopping cart altogether (eg. ClickBank), while like Paypal's is crude to say the least

f. PayPal has been known to shut down accounts and freeze funds - without warning - based solely on the hunches of employees that feel that vendors have violated their terms of service.

g. If you're especially accomplished at marketing, and if you render an ample amount of sales during a launch - you should not be startled if your account ends up being "red-flagged", frozen and audited. And this will take place, once again, without warning.

In comparison, this is what you can anticipate from a merchant account:

1. If you are processing sales online, you will have the ability to enter your merchant details into an easy to use, uncomplicated menu-driven (shopping-cart) interface/gateway - and there are several that are readily obtainable, even free ones such as OSCommerce. These are is simple to use by potential clients, and all-inclusive in terms of assembling crucial data

2. You can allow you to modify the shopping cart to fit your precise purpose including the shipping costs and taxes

3. It will show you your clients' credit card numbers to make tracking, refunds, etc. easier.

4. It will assist you in fully automating your business's payment processing

In other words, when you are starting out and your sales volume is low, a more cost-effective approach could be to use services like PayPal. However, when your sales increase - or if you desire more control over your ordering process, at the same time saving cash on higher sales volumes, a merchant account is a better choice.

In conclusion, if you're sincere about making your small business succeed, you will sooner or later need to obtain a merchant account. It's more cost effective, and you have much greater control over the money being processed.

Chris Rempel highly recommends http://www.AcceptByPhone.com, which enables anyone to accept credit cards using any touch-tone phone (or cellular) for a FRACTION of the regular cost - and it's completely mobile.

Find out why Chris and others think this service is the ultimate mobile merchant account service.

Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Getting-a-Real-Merchant-Account-or-Using-3rd-Party-Processors-Like-PayPal(R)---Which-is-Better?&id=428271

Merchant Account

2007-05-09T04:00:00.000-07:00

How To Comprehend Merchant Service Provider Rates
By: Jim Saka

If you have an online business today, you are well aware of the necessity to have a merchant service of some kind. Being able to accept credit cards online makes it convenient for customers and allows them to feel secure about their purchase with a credit card. For the merchant, it is vital that you are well aware of the merchant service provider rates. Otherwise, it can be easy to spend an arm and a leg on a merchant service.

The first part to understanding your merchant service provider's rates is knowing the classifications of each transaction. Each transaction will fall into the category of either qualified, midqualified or nonqualified. There are several ways the classification is determined, including the Visa/MasterCard regulations, the category of credit card used, whether the address verification system was used and whether the order was shipped within 24 hours.

If the transaction for whatever reason does not satisfy all conditions set by the Visa/MasterCard regulations, the transaction falls into the category of either midqualified or nonqualified. Another way the transaction can be classified as a nonqualified surcharge is by the category of credit card used. If you use a business card, business cards are considered high-risk, which puts the order into a nonqualified surcharge.

What this means is that your merchant service provider rate will be potentially 1.4% more in surcharges because of it being categorized as nonqualified. To avoid being docked any extra rate for transactions, you will want to talk with your merchant service provider to see the list of determinants that put a transaction into nonqualified.

The rates that you really want to watch for when going through a merchant service provider are the discount rate for each transaction and the per-transaction fee. The discount rate is the percentage applied to the dollar value of each transaction. The per-transaction fee, on the other hand, is a flat fee that is assessed after each transaction.

If you have a qualified transaction, the merchant service provider rates will generally be in your favor. However, the rates will fluctuate and could potentially not be the most cost-effective if the transaction is nonqualified or midqualified.

As you can see, having nonqualified or midqualified surcharges can cause high merchant service provider rates. By being aware of how to stay away from these classifications and assure yourself that you fall into the qualified surcharges, your rates will be much more feasible. All in all, it will make more a convenient way for your customers to make transactions using their credit cards while feeling safe at the same time.

Copyright (c) 2007 Jim Saka

Article Source: http://www.ApprovedArticles.com

For more information about Jim Saka or to find out how your business can can benefit from accepting credit cards online or at a place of business visit United Bank Card's merchant account services websites.

Merchant Account

2007-05-08T05:44:00.001-07:00

Merchant Account Fees by Jack Chevalier

From: frontpages-web-hosting.net

Merchant account -- a special bank account for handling the revenue (and fees) from credit card transactions. Your merchant account provider (MAP) is a bank or other institution that processes online credit card transactions.

Some MAPs will not allow a large volume of purchases to be made when a card is not physically present; or example, for charges made over the Internet, or by phone, fax, or mail. In that case, you will need to obtain a separate merchant account to process your online transactions because financial institutions and the Visa/MasterCard card associations have different criteria for evaluating the potential risks of credit card transactions when a card is not present. A variety of fees and other expenses are associated with online merchant accounts.

Setup Fees
Your MAP will charge some combination of fees to get started. Most charge an application fee, which is seldom refunded if your application is denied. When you open an account, you may be charged software licensing fees, if applicable, and you may be required to purchase hardware or equipment, such as a point of sale (POS) terminal.

Software
Software requirements also vary widely, from using Web-based applications hosted on your provider's server free of charge, to purchasing and installing software. In some cases, all that's required is a personal computer with Internet access, but depending on your business needs, a POS terminal may be necessary. POS terminals are the devices you see in most retail locations, used for processing credit card transactions. These terminals come in a variety of models -- from bare-bones versions to fully loaded editions with integrated printers and real-time processing capabilities.

Transaction Fees
A transaction fee is a flat fee charged for each transaction. Credit card transaction fees may be assessed by the financial institution that handles your merchant account, the Internet payment service that enables the merchant to accept online payments from their customers and securely processes these payments, or both. You may be able to receive separate invoices from your financial institution and the Internet payment service; but in many cases, this fee is presented to merchants in one invoice from your financial institution. The transaction fee is based on the financial institution and the risks associated with the merchant, including type of products, market segments, method of selling, price of product, expected sale volume and merchant credit history.

Discount Rates
Discount rates are percentages taken from each order. Expect to pay discount rates from 1.75% to 3.95%.

Other Fees
Beyond these fees, many MAPs have also established minimum annual revenue requirements. Some MAPS also require security deposits or revolving accounts to ensure that you'll pay for any charges contested by a customer. Like transaction fees, these amounts are usually based on the type of product you're selling and the price of your goods and services, your credit history, and the length of time you've been in business. Each MAP offers a different mix of fees. Regardless of the MAP, however, these costs can add up quickly.
About the Author

None

Merchant Account

2007-05-04T03:03:00.000-07:00

How to accept money online? by Debabrata Dhar

Why Internet is so much popular? It is popular because the entire concept of the Internet is "Instant" access to information, products, and services. Everybody wants to have his or her preferred items instantly whether it is information, products or services on the Internet even if it requires money to access it. So, you need to use this opportunity to help your impulsive customers pay at your website and get access to their requirements. It makes them happy and you make instant money from it.

What is the method we should accept?

The most popular online payment method, by far, is accepting payments by credit card. The reasons are:

* Convenient: It is more convenient for people to pay you.
* Establish Your Credibility: General concept of people is that merchant account status is not easy to get and therefore they look at you as one that is stronger than others.
* Increase Lifetime Value Of Your Customers: When people are ready to purchase from you with a credit card, they most likely want to believe you. If someone believes you in business, want to purchase more whatever you recommend. That means you are providing a chance of selling different products to the same customers. It is also evident that if someone believes you, he or she wants others to purchase from you. You can find that your customers would be taking initiative to recommend your product to others because they believe you.
* Increase Impulsive Purchase: Provision of accepting credit cards on your website enforces your customers to go for instant purchase because they are in buying mood and it is the online credit card acceptance system that make it easier for them to get access whatever they want.

So, you can see that there are so many advantages of accepting credit cards online. All of the advantages will certainly go in your favor if you implement the system on your website from the day one of your online sells.

I hope you got the importance of accepting money online. Besides all of the benefits discussed above, it will make you most happy because it actually earns money for you. This is best reason for which you need to be encouraged.

About the Author

Debabrata Dhar, the creator of Net Profit Magic: A Total Automated Instant Money Making Magic Internet Business Solution... Click the link for your free copy of an exclusive brand new ebook Insider Secrets Of A Successful Internet Business: http://www.netprofitmagic.com/

Merchant Account

2007-05-03T04:09:00.001-07:00

Free Internet Merchant Accounts
By Seth Miller

Any business which wants to grow in today’s world must accept online payments made through credit cards. This would require an Internet merchant account. Small businesses can also open free merchant accounts to save initial costs.

A free Internet merchant account can be opened by involving a third-party processing company. The third party processor company has its own online merchant account. When you authorize this company on your behalf, it starts accepting online payments through credit cards for your products or services. A particular amount is deducted from this sale by the third party processor as a commission. The rest of the money is transferred to your offline merchant account. The commission is often known as a processing fee. This is how the third party processor makes a profit. Hence, it does not charge you anything up front. Usually, the fee charged by a third party processor is slightly higher than the fee charged for an original online merchant account operated by the merchant.

Not all third party processor companies offer free Internet merchant accounts. Some of them may charge a nominal fee. But there are many companies which help you in receiving online payments without charging an initial fee. It is only after the payments have been received that a commission is charged.

Before hiring the services of a third party processing company, it is always advisable to check its past record. Try and go for stable and well-known entities, because there is always the risk of fly-by-night operators vanishing with your hard-earned money.

Filling some basic information and signing an agreement with the third party processing companies can help open such accounts. A free Internet merchant account helps you tap potential online business opportunities even if you don't have a web site.

Internet Merchant Accounts provides detailed information on Internet Merchant Accounts, Free Internet Merchant Accounts, Ecommerce Internet Merchant Accounts, Internet Merchant Credit Card Accounts and more. Internet Merchant Accounts is affiliated with International Ecommerce Merchant Accounts.

Article Source: http://EzineArticles.com/?expert=Seth_Miller
http://EzineArticles.com/?Free-Internet-Merchant-Accounts&id=251504

Merchant Account

2007-05-02T04:53:00.001-07:00

Online Credit Card Merchant Accounts
By Richard Romando

A recent survey indicates that when you accept credit cards online, you can expect your sales to increase by an astounding 50 to 400%. If experts are to be believed, in this fast-paced world you simply can't compete if you don't accept credit cards. For the online web entrepreneur, the most important factor in credit card processing is how many products you think you can realistically sell in a month.

Business firms are often forced to extend credit to increase sales. In some businesses, the entire sale takes place on credit, cash sales being negligible. In certain other businesses, hire purchase and installment payments are the normal practices. Even in those cases where the sales to consumers are on a cash basis, credit is extended to the distribution channels. It is essential for any business firm to evolve a clear policy on credit and exercise proper control of it.

The firm must ensure that customers and channels do not exploit the credit policy of the firm. Credit transactions should not turn into bad debts. Credit has two cost dimensions: the interest on the money involved in the credit transaction, and the risk of bad debts. Bad debts must be seen and understood as an important part of the cost of credit. They erode the profits of the firm.

All credit transactions have the potential of becoming a bad debt. And even if they are sound, credit transactions always have another serious implication-- of affecting the liquidity of the firm. An analysis of outstandings and overdues will highlight the corrective action to be taken. Some firms offer cash rebates to customers in lieu of credit, with a view to reducing credit transactions and accelerating recoveries. Proper credit rating of the client is the fundamental step in credit control. Credit rating ensures that the credit worthiness of the client is assessed objectively before the firm proceeds with the risk of extending credit facility to him.

Online Merchant Accounts provides detailed information on Online Merchant Accounts, Online Merchant Account Services, Online Merchant Account Application, Online Credit Card Merchant Accounts and more. Online Merchant Accounts is affiliated with Free Offshore Merchant Accounts.

Article Source: http://EzineArticles.com/?expert=Richard_Romando
http://EzineArticles.com/?Online-Credit-Card-Merchant-Accounts&id=190819

Merchant Account

2007-04-30T02:06:00.001-07:00

Merchant Account

2007-04-28T05:18:00.001-07:00

Free Credit Card Merchant Account
By Shane Penrod

If you have been doing business for a few years, you probably
have heard about the benefits of opening a free credit card
merchant account to expand the availability of your products
and services. However, there are so many banks and other
financial institutions competing for your business that you may
be unsure which one to partner with in this exciting venture.
One attractive option is to look for a free credit card
merchant account offer.

Applying for a merchant account is easy and often can be
handled online in a few moments’ time. However, it may be
difficult to know which bank to choose. One may offer a lower
transaction fee for credit card processing. Another may vie for
your business by offering a no-fee installation of credit card
processing equipment. But you could benefit more from a free
credit card merchant account if the card does not come with
hidden fees or limits.

Start by shopping for a merchant account with banks that offer
low-interest rate credit cards or a no-rate credit card
merchant account. If your favorite bank does not currently
offer this type of deal, ask about one. Perhaps they will
consider offering you a special deal if you are a valued
customer. Otherwise, when considering a merchant account credit
card from a relatively unknown institution, compare the terms of
the card to those from other banks to make sure you get the best
deal.

Sometimes a “free” credit card deal may actually hide or incur
unexpected costs. For example, while you may not have to pay
any up front costs when opening the account, like an
application fee, you may be billed later for an annual
membership fee that entitles you to use the credit card.
Failing to pay this fee may result in the cancellation of your
credit privileges. A free credit card merchant account should
be free in every sense of its use, so ask about contingency
fees or possible changes in terms later on as the economy
shifts. You don’t want to get comfortable using the card only
to find in a few months that you are being billed for services
you did not expect to pay for.

A free credit card merchant account can be just the thing to
launch you into e-commerce use, however. You can use your
credit account to purchase credit card processing equipment or
other innovations that will upgrade your company’s image to
impress customers and draw in new clients. Or you can use your
free credit card merchant account to experiment with other
marketing techniques, attend conventions, or try a new line of
merchandise or services.

If you have demonstrated skill in using business credit
responsibly and in keeping with your business income and
expenses, this type of credit card account may be just what you
need to move your business forward and expand company interests
or operations for your customers’ benefit. Check out all the
terms and conditions when you apply to get the best free credit
card merchant account.

About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com

Source: http://www.isnare.com

Merchant Account

2007-04-27T04:20:00.001-07:00

Is It Actually Possible to Get a Merchant Account For Free?
By Chris Rempel

No beating around the bush, here. There's no such thing as a free lunch, and that applies to the merchant industry as well...

Everything has a price, whether it's in cash, time, and/or effort. Common sense tells you that no one in business to make a profit truly gives a product or service away for free. So it is important to find out exactly how the so-called "free merchant account" companies get your money...

This article is meant to educate you about the fees that the "free merchant accounts" actually charge. I hope that this will help you make an informed decision that's right for your business.

The Basics:

All credit card transactions are governed by what are called the Interchange rates. These are the fees that companies like Visa, Master Card and others impose on payments processed by a merchant. There are a number of tiers or levels in the interchange rate and each credit card will be charged according to the tier or level it qualifies for.

For example:

1. Qualified rate - This is the rate charged when the card is present physically at the point of sale.

2. Mid-qualified rate - This is the rate charged when the card is not present at the point of sale; rather, the merchant takes an imprint of the card.

3. Non-qualified rate - This is the rate charged for "MOTO" transactions (mail, Internet or telephone order).

Furthermore, there are a number of fees that are attached to the merchant accounts upfront or as back-end fees.

The following are the most common fees you might encounter:

1. Transaction Fees - this is charged each time a transaction is completed. This is a flat rate, usually ranging from $0.10 to $0.25

2. Discount Rate - this is a flat-rate percentage that is taken out of each sale processed through the merchant account. Discount rates range from 0.95% to 7% or more, depending on the merchant service and its intended use.

3. Authorization Fees - this fee is charged as soon as the transaction is processed. Even if the transaction is denied, the fee is charged.

4. Statement Fees - this is a fee that is charged routinely for the generation of a monthly transaction record.

5. Monthly Minimum Fees - there is always a minimum fee charged when the total fees of that month for a given merchant account do not equal the minimum required business transaction level. For example, if the minimum fee is $15 and the fees incurred from using the service are only $10, then an additional $5 will be charged for that month.

6. Termination Fees - this is a penalty that can range from $150 - $275 if the merchant (potentially one like you) terminates their account before the term expires, which is usually around 2 or 3 years.

7. Free Equipment - the terminals, machines and other equipment that you're "given" practically always need to be returned to the merchant account provider at the end of the term in perfect condition. It costs approximately $295 - $475 to replace (or pay for) a damaged "free" terminal.

8. Batch Fees - when a merchant settles their terminal a fee is charged. This is usually a flat-rate charge each time the terminal is settled.

As you can see, there are a number of expenses that will be incurred for any standard merchant account. There is absolutely no way anyone can provide you with a free merchant account, because the fees set in place by the issuing card companies have to be paid by someone, and someone else will certainly not be willing to pay for you to use their service at their own cost.

The truth is, these fees would be extracted in another manner, most of which would be indirect and "hidden". And in that light, it's always better to choose a company that clearly discloses its fee structure up-front, instead of being "lured in" under the premise of getting something for "free" - only to find yourself the victim of an endless barrage of hidden charges...

Though they're hard to find, there are a few merchant services that provide a great pricing plan with a low-cost fee structure. You'll be far better off looking into those types of offers, instead of chasing after the "free offers".

Bottom Line: Free merchant accounts don't exist.

It will cost you money to process credit card payments, one way or another. Always read the fine print (the terms and conditions), and realize that most merchant service providers that advertise something as being "free" will make their money by locking you into a steep contract of some kind - most of which are enforced with a steep cancellation charge.

So do your due diligence, and look for reasonable, realistic merchant account fees that make sense for your business needs.

Because an unusually "cheap" merchant account will almost certainly end up being an incredibly expensive mistake...

Chris Rempel highly recommends http://www.AcceptByPhone.com, which enables anyone to accept credit cards using any touch-tone phone (or cellular) for a FRACTION of the regular cost.

Additionally, click the link to discover how to find the best credit card processing rates for your business.

Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Is-It-Actually-Possible-to-Get-a-Merchant-Account-For-Free?&id=445025

Merchant Account

2007-04-25T02:18:00.000-07:00

Merchant Account - Credit Card Processing for Your Business
By Jimmy Wilson

Merchant Accounts allow you to conduct business online or offline with confidence to both you and your customers. Your merchant account is designed to make your business transactions a smooth exchange of goods and/or services for a payment method of credit cards, debit cards, online payment centers, faxes, or over the phone transactions.

Credit Card Processing can be much easier to set up for your online business, unless you choose to go through conventional means as you would for a brick and mortar business. If you need actual credit card processing terminals for the card swipe method, you can apply for that card processing separately.

A Merchant Account allows you the freedom of accepting credit card purchases and you don't have to wonder if the customer's account is in good standing, before you make the transaction. This is a must have in today's economy. More and more online customers are choosing to bank and purchase online, so in order to be conduct your business successfully, a merchant account is essential.

A merchant account provider gives you everything you need to get started accepting credit cards... with a payment gateway, usually with set-up fees and percentage rates per transaction charges. You need to check around for the best merchant account providers and see what they charge for set-up and processing your credit card transactions.

As you expand your merchant account, you may see a need for a credit card terminal, phone order processing, and/or a wireless credit card processor. This should also be a consideration for anticipated expansion to your business when shopping initially for a merchant account provider.
A Discount Merchant Account Provider is where you will find your best deals. With any business just starting out, the merchant account provider should grow with your business and when the time is right for your business to expand, you can rest assured your initial merchant account provider can make the necessary changes with you.

A good way to know a merchant account provider is reputable, check with the Better Business Bureau Online for feedback about the merchant account provider's scoring and if they have a high or low record of complaints. Obviously, all merchant account holders have had some bad dealings with dissatisfied customers, but the percentage rate will reflect whether they have too many to consider normal or average. Other questions you should ask:

_______________________________________________________

- What kind of merchant businesses do you accept?

- What if I have less than perfect credit?

- What credit cards will my merchant account be able to accept?

- Do I need a business license?

- What is the merchant discount rate?

- What is the Address Verification System?

- Will I receive a merchant account statement?

- How will I receive my money?

- How do I apply for a merchant account?

- How long does the approval process take?

- Is there a service phone number that I can call if I need help?

_______________________________________________________

For more information about opening a merchant account http://wealthsmith.com/merchant-account-credit-card-processing.htm

Jim has found a total package merchant account set-up ideal for entrepreneurs wanting to get started with a great opportunity. http://wealthsmith.com/merchant-account-credit-card-processing.htm

Article Source: http://EzineArticles.com/?expert=Jimmy_Wilson
http://EzineArticles.com/?Merchant-Account---Credit-Card-Processing-for-Your-Business&id=388597

Merchant Account

2007-04-17T04:07:00.001-07:00

Credit Card Merchant Account – Do You Need One?
By Shane Penrod

There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.

A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.

Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.

Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.

Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.

About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com

Source: http://www.isnare.com

Merchant Account

2007-04-16T04:15:00.001-07:00

Merchant Account

2007-04-14T00:36:00.001-07:00

Merchant Account Fees to Business Owners
By Debbie Dragon

As a business owner, when you set up a merchant account to enable your customers the ability to pay for your products or services using credit cards (or debit cards with a Visa or Mastercard Logo), you will have some fees associated with the credit card transactions.

The specific fee amounts that you pay will depend on the merchant account provider you select to provide your credit card processing service; however, there is a list of typical fees that the majority of providers charge business owners in exchange for the ability to accept credit as payment.

Discount Rates

Visa and MasterCard have what is called “interchange” rates. They range in price- so in order to make it easier, the merchant providers created three categories.

Qualified Discount Rate – a percentage is paid from each dollar charged.

Mid-Qualified Rate – does not apply to merchants that manually enter transactions.

Non-Qualified Rate – added to the qualified rate n certain transactions. Also get billed this higher rate if you don’t use address verification service (AVS) when you manually enter transactions.

Other fees many merchant account providers charge their business customers include, but are not limited to the following:

Reward Cards- most merchant providers charge higher rates if the consumer pays using a reward card.

Transaction Fees- a specific, flat rate that is paid on every sale processed through the credit card processor. (Sometimes the transaction fee is called the interchange fee, authorization fee, or per inquiry fee).

Address Verification Service (AVS)- merchant account providers charge a small fee for the validation service to ensure that the billing address provided in the online checkout process matches the issuing bank’s records. Not using this service will result in hefty charges on the processing of the card for that sale.

Batch Fees- most merchant account providers require that customers close out their transactions a minimum of one time each day. The batch fee pays for expenses for the gateway or software that accesses the credit card processing network. If you don’t have transactions to process, there is no batch fee to pay.

Monthly Statement or Customer Service Fee – most merchant account providers charge a monthly fee in order to cover their monthly costs of operation (paying their customer service team for example).

Monthly Minimum Fee- some merchant account providers require you process a minimum amounts of sales per month, or you pay a monthly minimum. Monthly minimums tend to range between $15 and $40 per month.

Gateway Fees- for some merchant accounts, there are fees for internet and mail order merchants to use an internet gateway service such as Authorize.net, although some merchant providers will cover this fee on their customer’s behalf as part of the package deal. If you are solely an internet business, you’ll want to look for an internet merchant account that includes the gateway service as part of the package.

Annual Fees- often charged by merchant account providers- particularly the merchant account providers that offer free terminal equipment. There are numerous merchant account providers that do not charge an annual fee, so you may want to shop around if the first few you look at require an annual fee. Sometimes it would be cheaper to purchase the equipment than to pay an ongoing annual fee.

Cancellation/Termination Fees- Most merchant accounts require a contract agreement of one or two years and if you cancel early, you are likely to be charged a termination fee.

Chargeback/Retrieval Fees- When a customer requests a refund (or the customer’s credit card issuer requests a refund), merchant account providers typically charge a “chargeback” fee.

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.

Article Source: http://EzineArticles.com/?expert=Debbie_Dragon
http://EzineArticles.com/?Merchant-Account-Fees-to-Business-Owners&id=498057

Merchant Account

2007-04-13T00:35:00.000-07:00

Merchant Account

2007-04-12T02:03:00.001-07:00

Benefits of a Merchant Account for Your Business
By Michael Russell

If you own a business, then you can truly benefit from signing up for one or more merchant accounts for your business. Merchant accounts are established by millions of business all over the world and such accounts help business owners bring in serious money. Plus, there are myriad benefits derived from having one or more merchant accounts for your business. Let's explore the benefits below.

You will be surprised by the advantages afforded to you when you apply for merchant accounts for your business. First, with one or more merchant accounts, you can accept a variety of credit cards from your customers. In fact, once you apply for one or more merchant accounts, you can start accepting Visa, MasterCard, Discover, and American Express from your customers. Thus, with a variety of ways to accept payments, you will find that merchant accounts for your business help you gain significant income and will ultimately increase your bottom line.

Secondly, with the advent of the Internet, many business owners are now conducting their business online. With merchant accounts, you can dramatically increase your sales. Customers will enjoy the ease in which they can make purchases and they will, in turn, recommend your web-based business to others. Finally, word-of-mouth advertising is not only free, but it is also the best form of advertising there is.

Thirdly, with merchant accounts, you can make any and all of your customers feel totally secure in making their purchases. Customers will be able to make secure purchases from your website and such security goes a long way. When a customer feels secure while making purchases, it promises their return to your web-based business for future merchandise and/or services.

Fourthly, with merchant accounts, you will be able to keep better track of your financial transactions. When you sign up for merchant accounts for your business, you will receive a monthly statement of all of your transactions and the money you have received. Such statements are invaluable come tax time. With your statements you can easily determine taxes and make your job or your accountant's job that much easier.

Applying for merchant accounts is a simple process, one that takes merely a matter of moments to complete. In fact, you can apply for merchant accounts online. Further, once you have applied for a number of merchant accounts, it can take one to ten days to find out if you are approved. Once you have been approved you will receive notification and instructions on how to successfully implement your new merchant account and how to integrate it with your current business workings.

Finally, with the simplicity of applying for merchant accounts for your business and with all of the benefits derived from having merchant accounts, it is no wonder that businesses rely on the use of such accounts daily. Further, with the Internet increasingly becoming a forum for business transactions, merchant accounts are becoming a necessity for web-based businesses. So what are you waiting for? Sign up for your merchant account today!

Michael Russell

Your Independent guide to Merchant Accounts

Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Benefits-of-a-Merchant-Account-for-Your-Business&id=117783

Merchant Account

2007-04-11T02:10:00.001-07:00

Ecommerce: Landing the Merchant Account
By Scott Lindsay

Accepting credit card orders online is a convenient way to do business, especially for the consumer. There are online businesses that do not use credit card payments, but rather invoice and accept either cashiers check or money orders. However, in most cases this billing process results in a loss of more than half of a site’s potential customers.

The reasons many businesses do not like to accept credit cards are many and include financial issues such as transaction fees, discount rates, setup, statement and application fees as well as a minimum monthly fee. Combined this can take a significant bite out of your potential profit.

If you are developing an ecommerce website you may discover some sites for ecommerce development that offer a Merchant Account at no cost. Others may charge as much as $500 for this type of account. What a Merchant Account does is allow those credit card orders to be processed.

The Merchant Account is also necessary to the implementation of many online shopping carts. The two often work together.

One of the most compelling reasons to pursue a Merchant Account is to expand the potential growth of your ecommerce website. With a credit card sale the consumer has a level of assurance that they will either receive their product or they are not held liable for the purchase by the credit card company (in many instances). However, with an invoice/pre-payment plan the consumer may be wary of providing cash for something they haven’t received. This is especially true when the customer is new.

In essence, an invoicing system might work for existing customers, but in order to grow you may need to consider obtaining a Merchant Account for ecommerce and then expanding your marketing plan to increase the demand for your product. In turn, growing demand may more than offset the fees associated with credit card transactions.

Some small businesses might make use of a PayPal account in lieu of a Merchant Account in order to send and receive online payments. Fees are required in this arrangement as well and some consumers may not like establishing their own PayPal account just to make a payment, but this option may be more palatable for some online business startups or small businesses that operate a niche corporation.

The knowledge of available tools provides a certain empowerment. Online searches can lead you to a variety of Merchant Account providers, but knowing the options may help you manage your company goals and objectives. Ecommerce is a big step and the more you know about available options the easier it becomes to define the solution.

Scott Lindsay is a web developer and entrepreneur. He is the founder of HighPowerSites and many other web projects. Get your own website online in just 5 minutes with HighPowerSites.com at: http://www.highpowersites.com Start your own ebook business with BooksWealth at: http://www.bookswealth.com

Article Source: http://EzineArticles.com/?expert=Scott_Lindsay
http://EzineArticles.com/?Ecommerce:-Landing-the-Merchant-Account&id=440168

Merchant Account

2007-04-10T04:59:00.001-07:00

The Easy Way to Acquire a Merchant Account for an Adult Business
By Jessica Gables

There are two surefire ways to make money off the Internet. First, find something (product, service, etc) that could arouse the interest of your target audience. If this is a niche product -- something that you and a handful of other adult merchants specialize in -- much better. It would only mean you have less competition and a bigger probability to succeed. As this article deals with something more towards the adult industry, let's take a look at that in particular. Focusing on general adult entertainment can be too broad and tiring to maintain. Try to shift your focus onto more specific fields (ie adult toys, dating service, live webcam feeds, blogs and real life stories and so much more).

Second and more important of the two, get a merchant account service provider that would enable you to accept payments online. Unless you're running an adult entertainment business purely as a hobby, you would want to collect money off your patrons. All your hard work would be a great waste if your website is not equipped as an e-commerce site. Being able to accept major credit cards whether for recurring subscriptions or one-time purchases is the key to running a successful online adult business.

For the first problem, there's an easy solution. After all, you wouldn't be in this business if you didn't already have materials in the first place, right? So you can either ride on your creativity (for blogs, stories and photography), buy available content online (videos and photos), hire talents (live webcam feeds) or have good sourcing (for toys and other adult paraphernalia). That shouldn't be a big problem then.

The second one, as previously mentioned, is more important, and even more difficult to acquire. Any financial institution, whether banks or other alternative channels, will go through its clients with utmost care and consideration. Lending money or processing it for other people is a big responsibility; as such you might have to go through the strictest standards to get a merchant account.

One very important thing you have to understand though, adult businesses are considered high-risk businesses. This means that while merchant account providers might be tough on regular online merchants, expect them to deal with you with an iron fist. This may mean a lot of things, including more paperwork to present, longer approval time, even outright denial. Also part of the problems that adult merchants might encounter would be the higher fees. If you bear all these in mind when looking for an account, you should be able to get through the process much easier.

Now, off to the more important questions. As you go thorough your list of possible merchant account service providers, you should also begin to prepare a second list. This one should detail what each payment processor asks from you. If you find that some of the requirements are common across all payment processing service providers, then by all mean, jot them down. Then, proactively prepare a package with all the things they require. This would lessen your work of compiling each and every document every time you send out an application form. Here are samples of the kind of information that you should anticipate the merchant account provider would ask for:

1.Pertinent details about the company (ie, name of corporation, full address of where you conduct business, contact details of the company representative and much more)

2.Website information (including URL, years online, current traffic, etc.)

3.A general description of the types of products and services sold on your website

4.Information about your existing payment processor (name of the current merchant account provider, how long you were with them, the kind of relationship you had, the service they were able to provide, etc.)

5.Sales volume

6.Average number of sale transactions (per month)

7.Chargeback volume ratio

8.Refund ratio by volume

In terms of paperwork, different merchant account providers require different things. In any case, you should be prepared to provide:

Completed application form (issued by the merchant account provider)

Statements from your current processor (if you have one)

Articles of Incorporation (or Certificate of Incorporation)

Annual / Quarterly financial report from the company's public accountant

Letters of reference (in most cases, from other financial institutions)

Information about the corporation's board of directors

Proper identification for members of the board

PCI (AIS/SDP) compliance certification

To protect its assets, the merchant account provider may also ask you questions about the company's practices. This may include questions about your customer support ability, shipping fees and estimated delivery time, return policy, cancellation policy, existing fraud scrubbing methods and other such matters. Bear with them as they try to assess your business. Keep in mind that not all merchant account service providers cater to the adult business, so they really need to find out about all these. There are some businesses out there that already understand the adult industry. You can also try a number or other service providers out there. Use a reliable search engine to come up with a list. Try keywords like “adult merchant account” or “adult payment processor” to generate a fairly long list.

Knowing all these will not guarantee an approval but the information can prepare you for the challenge of looking for a merchant account for your adult business. Requirements differ between payment processors, but there is one thing they have in common: they want to help you. This may mean knowing everything about you and your adult business and if you can also help them fulfill a long-lasting and mutually beneficial relationship.

Jess Gables is a traveling journalist and author of numerous articles published in travel and hotel service sites, television programs and print materials. She is also a large contributor of articles to various online resource sites, garnering the reputation of being a trusted author on various topics. Gables is a content producer for various resource websites, such as AdultMerchantPay (http://www.adultmerchantpay.com). She has a background in photography, videography, pre and post production and online affiliate marketing.

Article Source: http://EzineArticles.com/?expert=Jessica_Gables
http://EzineArticles.com/?The-Easy-Way-to-Acquire-a-Merchant-Account-for-an-Adult-Business&id=494025

Merchant Account

2007-04-09T00:58:00.000-07:00

Will Your Merchant Account Let You Accept A Credit Card By Phone
By Jim Saka

With so many concerns today with identity theft and stolen credit cards, the safety of transacting business with a merchant who is willing to accept a credit card by phone remains on the minds of many people. We know that with secure websites, firewalls, and other safety precautions, the Internet is usually a safe place for transacting business using a credit card, but what about using the phone for credit card processing? How safe is it to give your credit card information to someone on the other end of a telephone? This is especially of concern with so many people today using only wireless or cordless telephones.

Unfortunately, many people still think of the telephone as a mechanism that is safer than that of the Internet, but the problem with that line of thinking is that there are no safeguards built into the telephone. It's easy for anyone with even a minor knowledge of electronics to learn how to tap into someone's phone line and record their conversations, including those that obtain personal information such as social security numbers, credit card numbers, bank account information, and much more. This is simpler still with cordless phones that actually access radio towers rather than telephone lines. Remember the influx of irregularities of the 900 numbers that were billed to people's phone lines as direct dial access, and there was no one home at the time? Many fought with the phone companies over that, and some were stuck paying bills for charges they never made. Consider if things are really much different than before? It appears that with all the advances in technology, it is likely that the problem has worsened.

For those who think it's safer to transact business with a merchant who is willing to accept a credit card by phone, think of this-the person at the other end of that line may take your credit card numbers and use them for his or her own benefit. With a computer-generated purchase on a secure network, no one at the company sees your credit card information. It is securely stored within the confines of the credit card processing system, which is why many online retailers ask for the secure three-digit code that is on the back of your credit card. The code identifies that card with an individual person as it is making its way from the SSL network to the computer of the credit card processing company, and finally, the credit card issuer. None of the personal information reaches the hands or eyes of a person unless you fail to secure your information, and it finds its way into the hands of a hacker. For the shopper who wants to protect his or her identity, the chances of that happening are far less than the risks you take when placing an order over the hone to a person.

Of course, there are those who don't have access to a computer that rely on the integrity of merchants who will accept a credit card by phone, and this will likely never change. However, for those customers, it's important that you follow all precautions, not the least of which is to never give your credit card number to anyone who calls you. If you are not the one making the original phone call, then protect your personal information. Instead, ask for a number to return the call.

Want more information about lowering your fees on your merchant account or credit card processing fees? Contact Jim Saka and learn how his merchant services company can benefit your company by enabling you to accept credit cards online or at a place of business. Visit United Bank Card's e-commerce merchant services website at http://www.unitedbankcardps.com for more details.

Article Source: http://EzineArticles.com/?expert=Jim_Saka
http://EzineArticles.com/?Will-Your-Merchant-Account-Let-You-Accept-A-Credit-Card-By-Phone&id=508300

Merchant Account

2007-01-02T04:15:00.000-08:00

Merchant Account Provider – How to Determine Which One Fits Your Needs?
By Joel Cohen

When searching for a merchant account provider remember to do some research on the company and try to get some positive opinions about the merchant account provider you are planning on doing business with. Not every merchant account provider can provide you with the perfect solution to fit your needs. Due to the competitive market these days when you do find a reliable merchant account provider make sure that the rates you are offered are appealing.

Determining Which Merchant Account Provider Fits Your Needs

First determine the exact services you require the merchant account provider to provide you with. Questions you should be asking your self are: Do you need a business or retail merchant account? Does the account need to be an offshore merchant account or perhaps a high risk merchant account? Will you need an internet merchant account including a virtual terminal? All these questions are important to answer before you contact a merchant account provider since the merchant account provider will be asking you the same questions.

Information the Merchant Account Provider Requires From You

All merchant account providers will need some documents about you and your business. Most often merchant account providers will ask you for your company papers proving you are the owner or the person responsible in your company. They will need a utility bill such as a gas or water bill proving that the company exists, a letter from the Bank proving you are legit and some will also ask for your recent Bank statements, not to mention a copy of your passport.

The most important thing to remember is that you need the merchant account provider more than they need you, so when negotiating, always be professional and polite. Keep an eye out for “fishy sounding” merchant account providers. If the merchant account provider does not ask you for important information chances are the merchant account provider only wants your run off with your money.

For more related information visit our high risk merchant account informational page.

At Adjustcrcedit.com you can find all the information you need when it comes to finding a trustable third party credit card processor online. Our web site also contains offshore merchant account related information for educational and research purposes.

Article Source: http://EzineArticles.com/?expert=Joel_Cohen