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Get The Best Credit Card Merchant Account

by: Dane Collins

Looking for the best credit card merchant account? Admittedly, there are a plethora of lenders to choose from when you browse the Internet for merchant account services. But what are you really looking for? Do you want an enhanced business image? Increased public exposure? A larger client base? Additional sales and revenues? Then you’re on the right track! A merchant account can do all this and more when you work with the right company.

Finding a quality lender to work with for the best credit card merchant account is not as difficult as you might think. You can start by asking your local banker for information about its merchant accounts. If you don’t feel the terms are quite right for your company, ask for a referral or check out other local banks yourself. You also might want to try credit unions or reputable lenders to see if you can partner with a financial underwriter in your community. That way you will get to know the company representative and perhaps meet occasionally face to face, which is always a desirable goal in business when feasible. But if not, there are plenty of good lenders to work with.

The best credit card merchant account providers tend to compete with each other to get business owners’ business. In fact, some will offer to meet or beat a competing underwriter’s price. So if you like the terms but not the price at a particular bank, find a lower rate somewhere else and tell the first bank about it. Perhaps you can get your preferred terms and lower costs at the bank of your choice. But if it doesn’t work out for some reason, keep looking for other lenders and shop for the deal that will best suit your company’s growth plan. It’s just a matter of matching your needs with the lender’s capabilities to make a match that satisfies both of you.

What would the best credit card merchant account do for your business? You can start accepting credit card payments immediately when you get approved for a merchant account. Start by installing a simple credit card processor, the kind that swipes a credit card, at your place of business. Then you may want to consider digital telephone credit processing services. Or you might opt to go wireless if you travel to remote destinations to collect payments. You can even put up a company Website as your crowning achievement and accept credit card payments there as well. In a very short time your client base could multiply, along with your profits, all because of your merchant account status. Are your competitors already using technology like this to accept credit card payments? Then you have no time to lose!

Start shopping now for a lender that will approve your application, offer low-fee services, and provide reliable support while you upgrade your company’s business image. Don’t stop with the first company to offer you a merchant account. You deserve the best so don’t settle for less when you apply for your bank merchant account.

About the author:
Dane Collins is the owner of http://www.merchantdigital.coma nationally recognized merchant account provider. Start accepting credit cards today: http://www.merchantdigital.com

November 14October 5

1st Steps To A Merchant Account

by: Steve Jones

It’s a fact that traders who are in a position to accept credit cards from their customers can expect to make more sales than those who only accept cash transactions.

According to “Jumping Through the Merchant Account Hoops” by Khera Communications, the average credit card transaction is $40, compared to just $9 for cash sales. So, by not accepting credit cards you put yourself at a huge business disadvantage compared to your competition.

It may also surprise you to learn that credit card transactions can cost your business less in transaction charges. A case study by Coopers & Lybrand found that it costs, on average, 2.7% to process a credit card transaction as compared to 4.8% for cash and 4.0% for checks. The reason for this perhaps surprising statistic is that cash and cheques require more handling by financial institution staff whereas credit cards tend to be processed electronically for the most part these days.

To offer a credit card payment facility to your customers you need to set up a merchant account. Typically you will also need to have equipment installed to accept the payments. If you wish to accept credit cards Online you will also need to sign up with a payment gateway such as CyberCash or VirtualNet to allow for instant authorizations over the Internet.

The provider of your business bank account should be your first port of call for a merchant account, but if you’re looking to provide an Online credit card payment service to your customers, it’s important that you make sure that any merchant account provider can demonstrate a track record with accepting Online payments.

Applying for and being accepted for a merchant account can take anything from a couple of days to a couple of weeks or more. Your chances of being approved relate directly to your already-existing business track record. That’s why your own business bank is a good first option, because they know you and your business better than anyone else.

How much can you expect to pay? The cost of a merchant account can vary enormously mainly based on the perceived risk associated with the business applying for the facility and the area of business they are involved in. Typically you can expect start up costs to be in the $190 – $300 range with processing fees on individual transactions from around 2% variable depending on sales volume. The more business you’re going to be putting through your merchant account, the more you’ll be in a position to negotiate with your merchant account provider.

November 14October 5

How To Accept Credit Cards Without A Merchant Account

by: 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 cheque 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

In the original edition of this article, I recommended PaySystems.com (also known as MyPaySystems.com). This is what I wrote about them:

“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.”

Unfortunately, PaySystems.com has discontinued their “Internet Billing Account” for those outside the United States.

4. 2CheckOut

2CheckOut.com can handle both intangible and tangible products. For an initial fee of $49.00, you can accept all major credit cards as well as online checks. Fees are just 5.5% of sales and $0.45 per transaction.

For this, you receive shopping cart, fraud detection, integration with third-party affiliate programs, multi-currency transactions, free online support, and more.

Incidentally, 2CheckOut.com has the same policy as ClickBank.com does with regard to sales taxes. Both companies take the position that you are selling your product to them and that they resell it to the final consumer. Thus, they claim that you are not subject to sales taxes on those sales.

About the author:
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. To learn more about accepting credit cards and other profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/creditcards.html

November 14October 5

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-Acount-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

November 14October 5

Does your business accept credit cards?

by: Jakob Jelling

It has become increasingly important for businesses to be able to accept credit cards. Credit cards are the preferred method of payment nowadays. Whether you are an online merchant or own an on-site business, if you do not accept credit cards you are missing out on a lot of revenue.

To accept credit cards your business needs a credit card processing system. Creating a merchant account gives you that ability. Merchant accounts are accounts especially crafted to fit the needs of businesses to accept money.

If you own a store, you will need a card swipe terminal to accept credit card payments. Your merchant account provider may be able to provide you with this equipment. There will be a purchase fee or rent fee associated with the equipment. You can also shop elsewhere for point of sale equipment. POS terminal software can ease the processing of credit cards and can ease the job of a cashier at grocery stores, merchandise stores, bookshops, or any other type of store you own.

Once the equipment is in place you are ready to go. When a customer asks ‘do you accept credit cards?’ your answer will be a definite yes. At the Point of Sale terminal, customers can check out their items and pay by credit. You slide the credit card into the machine and it will automatically make the payment.

To accept credit cards is even more crucial for Internet merchants. If you only use checks to accept payments, it can be troublesome for customers to write and mail the check. Online payment methods such as Paypal and StormPay also have drawbacks since many people do not have accounts with them. These can be your secondary payment methods but it is important to be able to accept credit cards.

Different websites have different reasons to accept credit card payments. Some sites ask for a membership or subscription fee. Some sites may deliver tangible products where the payment gateway must be integrated with the shopping cart. Others may require a fee for online consumption of such things as music, movies, etc.

You will need an Internet merchant account to make a payment gateway on your e-commerce Website to accept credit cards. You have a great choice when it comes to selecting a merchant account. Things to look for when making your choice are:

– Fees, such as transaction, set up and charge back
– Reliable security features
– Professional customer support
– The Company’s reputation and stability

If you are not skilled in programming, you should seek a merchant account provider that will set up your payment gateway for you or provide a cut and paste code. Setting up the payment gateway, to accept credit cards, in the right place and integrating it into your e-commerce Website is essential to driving sales. The gateway must be secure and the payment processing time must be fast.

Why you must Accept Credit Cards?

For online purchases, a majority of customers pay by credit cards. Thus if you do not accept credit cards you have reduced your customer base tremendously. Also credit cards promote impulse buying. You do not want to give your customers time to rethink their purchase when they are writing a check with all those zeros.

Also it can add credibility and professionalism to your business. If you accept credit cards, your site will look more legitimate and customers will have greater peace of mind when making payments. Your payment processor will be working and making money 24 hours a day, even while you sleep.

The benefits of accepting credit cards are many, even for on-site businesses. Credit cards are a convenient way to make payments. Customers do not have to carry cash around. Just slide the card in the processor and the payment is done. The merchant can potentially see a great increase in sales.

About the author:
Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.