Merchant Account Blog & Credit Card Processing Blog

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Over the weekend, I found a cool site offering Phone Credit Card Processing. Perfect alternative for low volume merchants looking for a “cost effective” way to accept credit cards by phone. This unique service will allow any merchant to dial a number, enter in transaction information, and receive an authorization in seconds. Start-up merchants and seasonal merchants can also benefit from this low cost alternative.

Another sector that could benefit would be mobile merchants running a business from the road. Any business person with a simple cell phone, can accept credit cards by phone. This opens the door to contractors, plumbers, pizza delivery, taxi drivers, and even flea market vendors, who in the past have been reluctant to pay the normal merchant account fees associated with accepting credit cards.

The savings for Phone Credit Card Processing can be substantial, starting with a nominal investment of only $17 for a fast set-up / application fee, merchants can be up and running in a couple of days. Once the account is boarded and the merchant is trained, a nominal rate of 3.89% ( Including Transaction Fees ) and a low monthly cost of only $7.00 !!!! This is simply unheard of in the industry.

In closing if you have any questions on Phone Credit Card Processing, please don’t hesitate to call me.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

High risk merchant accounts are an alternative you merchants who have been declined for credit card processing or that have been closed by their previous merchant account provider. High risk business owners may include certain business types, such as the travel industry which is noted for a high ratio of chargebacks, when compared to other business types. Another factor could be the past processing history of a particular business, which may include chargeback issues or questionable practices. Last a business owners lack of credit could also cause them issues.

We are currently sending all merchant account declines to www.risk-iso.com to apply for a High Risk Merchant Account. There experience and knowledge in the high risk merchant account arrena is vast and their ability to get merchants approved is impressive. They have several bank relationships both domestic and offshore, with several options for merchants to choose from.

If you are experiencing problems & looking for high risk merchant accounts, please feel free to call me with your questions. We are here to help and can usually put you on the right track.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

VERIFONE VX510 CREDIT CARD MACHINE

The Verifone Vx510 brings about a revolutionary change in the credit card machines of today and are known for being “Big Things in a Small Package”. With its unique features, this Verifone terminal has been rated as the most ideal credit card terminal for the needs of a merchant today. Aside from the basic features of being able to process credit and debit cards, and checks, the Vx510 has a number of new value-added features that make it stand out among other credit card equipments. These terminals have long served to be efficient, reliable credit card machines and it has grown in popularity among merchants because they are always designed keeping the needs of the client in mind.

Basic features of the Verifone Vx 510

The Verifone Vx510 has a number of features which make it an extremely useful and appropriate credit card machine. Its most important features are:-

• Accepts all magnetic-striped cards, including mini cards, and also processes checks
• In-built Pin pad for debit card transactions
• Multiple payment facility, such as loyalty, gift cards and more
• Convenient, high speed, in-built printer
• Latest security shields are approved by credit card providers Visa and MasterCard for all types of PIN entries.
• High speed dial-up connectivity
• Superior graphics capability
• Has a plug-and-play verifone terminal which is easy to install and use

Advantages of the Verifone Vx 510 credit card processing

The new Verifone Vx510 is said to be a leader among most credit card terminals today due to its several advantages. This terminal has been integrated with a number of beneficial features which allows the merchant to conveniently operate his credit card equipment.

• This lightweight and ergonomic design of this verifone terminal is easier to use
• The backlight feature and intuitive ATM interface of the machine reduces errors by clerks
• The VeriCentre file compression and high speed in-built modem allows makes it one of the fastest credit processing terminals.
• This credit card machine’s compact footprint saves counter space
• The built-in security features of the Verifone Vx 510 makes it reliable and safe
• It supports various peripheral devices that can be attached to it
• The multi-merchant facility allows the merchant to use this credit card terminal even if he owns more than one business or has to process transactions separately for separate merchants within one establishment.

The Verifone Vx510 is a very convenient and advantageous credit card machine for any merchant requiring credit card processing terminals. The reputation of terminals go a long way back as being simple, convenient and high-technology credit card equipments and have never failed to satisfy clients. Its various user-friendly features make it one of the most desirable credit card machine for all kinds of merchants. The Verifone Vx510 boasts on being “Big on what matters, Small where it Counts” and after reviewing all its advantageous features, it is undeniably one of the most valuable credit card machines in the market today.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

MERCHANT ACCOUNT BENEFITS - A MUST FOR ANY BUSINESS

With checks becoming obsolete these days and cash being less commonly used, it is vital for your business to accept credit and debit cards. By offering the services of a Merchant account, you will not only improve your sales, but also see an increase in your clientele.

There are many benefits of opening a merchant account with USA Merchant Account. The services offered can provide a revolutionary change for the growth of your business. Here are some of the reasons why your business must consider opening a merchant account and take advantage of the numerous benefits offered by it.

1. Accept cards: The most important feature of merchant accounts is that you will increase the number of payment methods accepted by your business. By accepting credit and debit cards like Visa, Mastercard, American Express and Discover, you open up your business to several types of customers.

2. Increase Sales: By providing the facility of paying with cards, you improve the quality of your business. You attract more people to use your services as it is now more convenient for them. Thus you see an increase in the amount of your sales and in this way you can provide a boost to your business.

3. Security: By providing a safe way to conduct an online transaction, you are giving the customer security. If they feel secure in the way their payment is conducted, they will surely return for future purchases.

4. Bad Checks: Avoid the inconvenience of dealing with bounced checks and the costs associated with it. By allowing customers to pay with cards instead, you decrease the frequency of dealing with such bad checks.

5. Excess cash: Dealing with large amounts of cash is undesirable for any business. By using merchant accounts to accept credit and debit cards more often, you reduce the amount of cash that is accumulated each day by your sales and thus avoid the inconvenience of it.

6. Speed: You can speed up your daily transactions by conducting them with cards and thus reduce the time spent at checkout. It is much faster and easier to use and thus more convenient.

7. Bookkeeping: Keeping track of all the transactions that have occurred can be a time consuming job. Merchant accounts offer tools that make it much easier to track your sales and success rates. Use these services to accurately account for all transactions and make bookkeeping a much simpler process.

8. Global: By accepting cards that are universally accepted, you can extend your business to be conducted with anyone in any part of the world. This further improves your sales and gives you the opportunity to take your business global.

After exploring the above mentioned features it is clear that your business may feel a financial pinch if you are not offering merchant account services to your customers. By using merchant accounts, you not only increase your sales but you change the face of your business forever as you have now taken it to a much higher level. The use of a merchant account is not just about convenience for the customer but also about profitability for your busines.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

BANK OF AMERICA - BETTER THAN EXSPECTED EARNINGS

Bank of America is one of the largest financial institutions worldwide. Not only does it deal with banking but also other financial product tools like risk management, investing and so on. It caters to individuals, small businesses, as well as large corporations.

On July 17, 2009 Bank of America announced its second quarter earnings. Even though it did better than all the analyst predictions, earnings as compared to last year were still down. The second quarter net income fell around 25 percent to $2.42 billion, or 33 cents per share, as compared to $3.22 billion, or 72 cents per share, from last year. Analysts had predicted earlier that Bank of America would earn 28 cents per share. The lower income reported was a result of an increasing number of troubled loans that are still being charged off as bad debt because customers are still falling behind and defaulting on their credit card and mortgage payments. However, Bank of America saw a rise in revenue to $32.7 billion which was slightly below the analyst forecast of $33.1 billion.

Even though it managed to beat the forecasts, Bank of America still faces a number of issues that will continue to drive down earnings for awhile longer. CEO Ken Lewis stated that, “continued weakness in the global economy, rising unemployment and deteriorating credit quality” would be the cause for deflated earnings for the rest of the year. They are still wary of the amount of loans that keep going into default each month and are unsure as to how long that will continue to affect them.

Stocks fall due to rising credit losses ( BAC )

We have seen stock prices of banks rising throughout this week. However, even though Bank of America reported better than expected earnings, stock prices continued to drop all day Friday after its second quarter earnings were reported. The failed confidence in the bank was due to the report of rising credit losses that continue to occur. Investors view these earnings as inflated and temporary. Additionally, CEO Ken Lewis stated that Bank of America would need to raise further capital of up to $33.9 billion. Therefore, even after beating analyst expectations, Bank of America stocks fell by 2.1 percent, or 28 cents, down to $12.89 at close on Friday. Investors predict that the stock price of Bank of America and the entire banking sector will continue to spiral downward for the rest of the year until credit losses are seen to improve and the continuous need for additional capital is reduced.

Bank of America performed much better than most of the banks in their second quarter earnings. But, investors need more than temporary rise in earnings to put their confidence in these banks. Thus, even after beating analyst forecasts, stock prices of Bank of America continue to fall. However, it is predicted by most that Bank of America has the strongest potential to weather this storm and emerge as one of the leading worldwide bank that it has always been known for.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Intabill Closes It’s Doors - High Risk Merchant’s In A Panic

High risk merchant account provider, Intabill seems to have closed it’s doors.We received several phone calls today from merchants processing with Intabill who were in a complete panic. Merchants are concerned with Rolling Reserve Accounts, on hold by Intabill and not clear as to their futures.

Upon hearing the news, I immediately went to the Intabill Website, only to find the website shut down. We were aware of pending law suits against the company but were shocked to hear the news of the Intabill Implosion.

After the dust settled, we learned that existing merchants were thrown a life-line by a company called Payovation, who purchased the assets of Intabill. In a press release the new company stated, “A Payovation representative will be in touch with you in the coming days to answer any questions”.  Seems the company will attempt to keep Intabill customers, by offering a similar service.

If you have any questions on obtaining a High Risk Merchant Account, please give me a call to discuss more stable solutions, both onshore  and offshore.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

 Offshore Merchant Account For High Risk Merchants

Offshore merchant accounts may be the last resort for many business types that are deemed “High Risk” by most card processors. These business types have a history of a higher than acceptable chargeback issues and are unacceptable by most credit card processors. An offshore merchant account  is probally the only solution. These business types include, but are not limited to:

ONLINE PHARMACY
TOBACCO SALES
ONLINE GAMBLING
ADULT CONTENT

This partial list shows the most diffecult business types, but there are many other types which would fall under the “High Risk Catagory”. Again these are pretty much “Untouchable” by most credit card processors.

These merchants are forced to seek an Offshore Merchant Account that specializes in high risk merchants. Rates are typically much higher to justify the high risk nature of the business. Rates can range from 8% - 12% and can be a very expensive proposition, but an necessary evil if credit card acceptence is necessary.

You may not need a High Risk merchant Account, so the best advise would be to call me to see if you would qualify for a traditional merchant account. This could save you thousands.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Credit Card Mahines At Wholesale Prices

Found a new website offereing credit card machines at fantastic prices to the public. Both new and refurbished credit card machines are available. Great opportunity for existing merchants replacing a terminal or new merchants looking to accept credit cards.

They also offer credit card machines for mobile merchants looking for a wireless terminal. These will process credit cards virtually anywhere a signsl is available. The benefit would be to actually swipe a customers card and give the customer a receipt, on the spot.

Company also provides credit card printers, contactless readers, and electronic check readers.

If you enjoyed this post, make sure you subscribe to my RSS feed!

High Risk Credit Card Processing

High risk credit card processing is a solution for certain business types that are deemed high risk by the industry and often declined for processing by most processors. Typically these business types have proven over time to produce a high average of “Chargeback” and present a high risk of default to the merchant bank. Below are some examples:

* TRAVEL RELATED BUSINESS
* ADULT WEBSITES
* BAIL BONDS BUSINESS

Another problem is a business that is either illegal or perceived to be illegal:

* ONLINE GAMBLING
* ONLINE PHARMACY
* ONLINE TOBACCO SALES
* ONLINE GUN SALES

Every high risk business type has it’s own variables. Certain banks may be willing to accept some of these accounts, but most would not. A merchant would need to have many favorable items to be considered and have a chance of approval. These are some points to be considered.

* CREDIT RATING OF THE PRINCIPAL
* CURRENT PROCESSING HISTORY ( NO CHARGEBACKS )
* FINANCIAL STRENGHTH OF THE MERCHANT

These are just a few things to consider when seeking ”HIGH RISK CREDIT CARD PROCESSING“. We may have a solution for your business, so if you would like to discuss your possibilities, please feel free to give me a call. We look forward to speaking with you.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!

Merchant Processing - No Start-Up Costs !!!!!!!!!

Merchant processing has never been more simpler and affordable, as banks are competing for your business. With many merchant processors offering low rates to win-over your business from other processors, the competition among banks is creating the perfect enviorment for business owners to save big.

Depending on your current monthly credit card processing volume, your saving can be substantial. especially if your merchant account is several years old and you have not shopped rates since you opened your merchant account.

Another key factor to consider is that many processors will waive certain fees to gain your merchant processing business and get you to switch. This can be an additional saving’s for the business owner. These fee’s may include statement fees, annual fee’s, and monthly minimum fees.

Lastly, in recent years many banks are offering FREE TERMINALS to encourage you to switch processors. This is a great way to up-grade your equipment at no cost. Many merchants are using out dated equipment for their merchant processing & probably paid several hundred dollars to purchase it. Another great savings.

If you are looking for Merchant Processing or are looking to save money on your current merchant processing costs…please feel free to give me a call for a free savings quote.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

If you enjoyed this post, make sure you subscribe to my RSS feed!