Merchant Account Blog & Credit Card Processing Blog

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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

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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.

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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

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