One of the most important services being promoted for merchants today is that of credit card services. If you want a lot of sales, then you have to accept credit and debit cards or you will lose a lot of your business to the guy across town who does take them. So, once you get established, it’s time to do your homework and see exactly how much each company will charge, because just like you and your competitors, there are wide differences among you.
You can find a lot of information on the web that will lead you to the exact information that you should look for. For instance, what percentage of the sale does each company charge, and what extra fees are there? Service doesn’t come for free, but as they say, it’s worth what you pay for it.
Filed under Credit Card Processing by on Sep 13th, 2011. Comment. 
Is every credit card processing company the same? You might think this is true if you have always used the same one. But think about it: are all department stores the same? All restaurants? Or all doctors?
The truth is, even in our computerized age, companies are still made up of people. And some people do a better job of providing good service than others. Some companies see it as a matter of reputation and pride to answer calls for help quickly, whereas others say they will get back to you within a few hours. How long do they think that your customer is going to stand and wait?
So if you aren’t getting superb service with your existing company, maybe it’s time that you take a look at the other options.
Filed under Credit Card Processing by on Sep 9th, 2011. Comment.
It’s easy. It’s simple. It’s efficient. It’s thrifty.
It’s virtual credit card processing. No longer do you have to call in a credit card purchase.
You don’t even have to spend $200-300 on a credit card processing machine, let alone the cost of another phone line to send the purchases through.
Instead, you can just have a connection on your company website. The customer can click on the merchandise that you are selling and put it into his virtual shopping cart. He can enter his address and his credit card information and put his order through. He will receive a confirmation number that he can print out and soon the order will be on its way.
Your website will collect the information for you automatically, saving on staff costs as well.
Filed under Credit Card Processing by on Sep 7th, 2011. Comment.
The state of the economy is on everyone’s mind these days. Most people have tightened up their belts and chosen to be less impulsive with their purchasing.
This might lead some entrepreneurs to question the need for credit card processing in their business. Aren’t credit cards just for overextending one’s budget?
It depends on how one looks at it. Every February, for instance, clothing stores have a huge sale on all of their winter clothing. Using a credit card allows a person to spend more of his clothing budget right then – so that he can spend less later on. For instance, he might see a winter jacket that is marked down 60% and determine that it would save him money to buy it now for next winter rather than buying it next Fall.
Filed under Credit Card Processing by on Sep 6th, 2011. Comment.
Did you know that you can turn your computer into a credit card processing terminal?
A lot of businesses use QuickBooks or Peachtree or other accounting systems, and most are equipped now with ways for you to easily process credit card payments through the computer on your desk.
Not only that, but you can connect it to your I-phone or smartphone as well. So, let’s say that you go to a customer’s home to do a walk-through and give an estimate. You finish your calculations and present the options and the customer is ready to go. Not only can you get them to sign on the dotted line, but now you can actually process their credit card payment right then and there, to really seal the deal.
Filed under Credit Card Processing by on Sep 5th, 2011. Comment.
There are still a few people out there who hesitate to use credit cards. They might not trust themselves to pay it off every month, or perhaps they have gotten themselves into financial difficulties before. This might make you think that you can get by without using credit card processing in your business.
But many of these people use debit cards with a VISA logo down in the bottom right-hand corner though. While they are squeamish about going into debt, they recognize that a debit card is just like writing a check, only faster. The good news for you is that debit cards go through your credit card processing just as easily as credit cards do.
So you and your customer can still enjoy the convenience.
Filed under Credit Card Processing by on Sep 4th, 2011. Comment.
With credit cards becoming the most used method of payment, many small businesses are beginning to cash in with credit card processing. It leads to increased profit, better customer base (online, in person, and by phone), allows easy expansion, and much more.
In addition, credit card processing increases the chances of securing a strong customer base because any business that accepts credit cards is viewed as trustworthy and good. While you may not value the importance of a customer base, it is important to note that loyal customers spread the word and refer their friends to you.
However, all the benefits of this service cannot be enjoyed without certain additional costs and additional amenities such as a payment gateway, merchant account, and business account with a bank
Filed under Credit Card Processing by on Sep 2nd, 2011. Comment.
With credit card processing becoming an integral part of business, it is important that business owners learn to protect themselves against legalized scams. Below are a few tips to help you keep your business safe.
- Read and understand the contract before signing.
- Do not sign a contract that has the “no cancel” clause without researching the company.
- Check the BBB’s credibility rating to see a list of all reliable companies and their reputation.
- Make sure the processing company writes and signs a legal document stating that all deposits will be refunded if the transaction is not completed.
- Do not sign blank or incomplete contracts.
Filed under Credit Card Processing by on Sep 1st, 2011. Comment.
With the increased use of credit cards as a means of payment, many small businesses are investing in credit card processing. While this is a great decision, it is important to do adequate research and comparison shop when choosing a processing provider.
There are scams being pulled on small businesses by company sales representative. The salesman claims he can save the business lots of money if a long-term contract is signed. The contract is then closed as a “no-cancel” deal, ensuring that the business cannot leave the contract. As expected, the business will pay a setup, startup, and deposit fee.
If you are able to get out of the contract (after a nice fee), you will not get your money back. In addition, these are legal contracts, but they should be avoided.
Filed under Credit Card Processing by on Aug 30th, 2011. Comment.
Transaction processing deals with the handling of information individually or as a group. Each transaction succeeds or fails as a group (one portion of a transaction cannot work while the other fails).
It is crucial for business owners to understand this because it is used whenever a transaction occurs. For example, if a customer pays buy $150 worth of goods and pays with his credit card, this transaction will involve two processes. The first will be debiting the customer’s account and the second, crediting the merchant’s account. If the system is able to get the money from the customer but cannot pay it to the merchant, the entire transaction will be stopped and cancelled.
Filed under Credit Card Processing by on Aug 29th, 2011. Comment.