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
Monday, April 30, 2007
Saturday, April 28, 2007
Merchant Account
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
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
Friday, April 27, 2007
Merchant Account
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
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
Wednesday, April 25, 2007
Merchant Account
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
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
Tuesday, April 17, 2007
Merchant Account
Credit Card Merchant Account – Do You Need One?
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Monday, April 16, 2007
Merchant Account
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
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
Saturday, April 14, 2007
Merchant Account
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
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
Friday, April 13, 2007
Merchant Account
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
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
Thursday, April 12, 2007
Merchant Account
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
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
Wednesday, April 11, 2007
Merchant Account
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
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
Tuesday, April 10, 2007
Merchant Account
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
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
Monday, April 9, 2007
Merchant Account
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
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
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