Merchant Account Blog & Credit Card Processing Blog

Welcome back!

Today is one of the best times in history to apply for a merchant account to accept credit cards at your business. You will find free credit card terminals being offered by many offices in return for your business. Credit card processing has become a must for most businesses and the competition between providers is fierce. This competition in my opinion is the result of the internet, with business owners being more educated by searching for the best deal on credit card processing.

Free equipment like; free credit card machine, free credit card software, and free ecommerce solutions are slowly becomming the norm on the internet. This competition was sparked a couple of years ago and may continue for the near future. No one know when they will “Pull The Plug” on free equipment, but for now it is available and everyone should take advantage of it.

If you are thinking about setting up credit card processing for your business or are thinking about switching your provider, for a much better rate, please give me a call to discuss your needs. We offer free equipment on all new merchant accounts for credit card processing.   

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

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Credit card processing is becoming the norm for new state-of-the-art vending machines. A vending machine merchant account is needed to accept credit cards with your machine. The process is very simple and your machine will be ready to process transactions once your merchant account is activated.

You will need to ask your equipment vendor which credit card processing network is compatable with the software installed in the machine, ie First Data Omaha, First Data Nahville, Vital, ect. You will also need to install either a telephone line or internet connection, which ever is required by your equipment vender. A download may be required to configure your machine, again please check with your equipment vender.

Customers prefer to use their credit & debit cards and the idea of using them at a vending machine is becomming accepted by the public. Increase your profits by accepting credit cards.

If you have any questions, please give me a call to discuss your needs.   

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

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Your credit rating can effect your ability to get a merchant account for credit card processing. When you apply for a merchant account, underwriters will look at a host of things, including your credit score. A bad credit score could stop you from getting a merchant account if your business type is slightly risky. For the most part if you have a retail location and resonalbe ticket sizes, your credit rating should not be a factor, unless you are currently in the process of bankruptcy.

Certain merchant services providers will accept more risk than others, so you may need to shop around. One alternative used by some merchant account providers, is to bring in a co-signer on the application. The co-signer does not need to be a principal in the business, but will assume any liabilities caused by a default on the account. Defaults could defined as not covering chargebacks, penalties, fees, etc. If you are have poor credit and wish to accept credit cards, you may want to consider credit repair to bring your scores higher. This would also allow you to qualify for better rates on business credit, as well.

If you have poor credit, please give me a call to discuss your needs.

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

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Businesses looking to use credit card processing software to process credit card transactions, should be thrilled to know that we are giving away free credit card processing software with every new merchant account. The software is perfect for retail merchants running transactions at the point-of-sale, using a mini card reader connected to their pc or mac system. Even more exciting, the software is perfect for merchants taking credit cards over the telephone, fax machine, or internet. These business types would include; phone-order, homebased, office billing, internet merchants, or any business type where the credit card to not present.

The credit card processing software will quickly install on any pc or mac computer. The software has a very small foot-print and can be called up from your desktop. Best of all it’s free !!!! Secondly, you have free lifetime technical support and all future upgrades are absolutely free. The software can bw downloaded immediately after your merchant account is approved.

If you have any questions about our Free Credit Card Processing Software, please give me a call.

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

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Accepting credit cards from customers over the telephone has become accepted and is a very popular payment method. Customers today actually prefer the convenience and are willing to give out their credit card information to a stranger over the telephone. Getting approved for a phone order merchant account has also become much easier as banks have also embraced the concept. Underwriters main concern is your product type and a fairly good credit rating on the principal of the business. Provided you are not selling phone-sex, you should have no problem getting approved for a phone order merchant account.

Credit card processing equipment is necessary to process your customers transaction. Choices to process credit cards will include a credit card machine, credit card processing software, or a ecommerce terminal.Cost can vary and most large credit card processors will offer Free Equipment with a phone order merchant account. Be sure to shop around for someone who can provide the best products at a fair price.

If you have any questions about phone order merchant accounts, please give me a call.

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

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Virtual Terminal - Credit Card Merchant Account

Credit card procesing of transations where the credit card is “Not Present”, such as phone orders, require a merchant to manually “Key” a customers card number. These transactions are best suited for a virtual terminal, which can be pulled-up 24/7 via the internet.

Our favorite virtual terminal is offered by the eProcessing Network which has many benefits over pos software and credit card terminals, pocessing “Card Not Present” transactions. Be sure to consider the the following benefits when choosing a payment platform:

Instantly Email’s Customer Receipt ( No Additional License Fee )

Full Online DataBase Of Transactions

Unlimited Simultanious Multiple Users

Free Technical Support - Free Upgrades

The best feature is “Free Set-Up” with no upfront cost’s. Compared to other payment platforms, the benefits far surpass any other option. When setting-up a credit card merchant account be sure to ask your credit card processing provider about the benefits of processing with a virtual terminal. 

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

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Processing checks at the point-of-sale is becomming very popular. New technology allows merchants to convert a paper check, into an electronic transaction. The check is then “Guaranteed”, removing the financial risk to the merchant. This technology will also create “Customer Loyalty”, as they will choose to do business with you, instead of doing business with your competitor.

Customers can take advantage of the “Float”, which is typically two business days before the funds are needed to be deposited into their account. Typically customers will use this prior to their payday, on a purchase needed today. Again, the check processing transaction is “100% Guaranteed” to the merchant, so the risk of the check bouncing is of no concern to the merchant.

A simple check reader is attached to your credit card machine to process the check. The merchant would simply swipe the check through the reader and enter the required information in the credit card machine. The information is transmitted to the Check Company and a “Guaranteed Prompt” is received back to your machine within seconds. The transaction is completed by returning the receipt & voided check, back to your customer. It’s that simple.

Funds are electronically deposited into your business account !!!!!

If you have any questions about check processing, please give me a call to discuss your needs.

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

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High risk merchant accounts are for business types deemed high risk when compared to the average business type. The risk of chargebacks is usually higher in these business types and they are deemed “Undesirable” by most merchant account providers. The risk for the merchant account provider is that many chargebacks could come through the account and the merchant may not have the funds available to cover each chargeback. In this situation, the merchant account provider may be left holding the bag.

The amount of acceptable risk will very for each processor. Some may accept more risk than others. Typically you may be accessed a higher rate and/or you may have to have a “Reserve Account” set-up to insure that you can cover all potential chargebacks that may be assessed against your account. Further keep in mind the “Excessive Chargeback Rule” set forth by Visa & Mastercard. Under this rule, if your chargebacks exceed 1% of your monthly volume, your account must be closed.

Here is a small list of business types which may be considered “High Risk”:

Adult Products
Bail Bondsen
Coin Shops
Computer Sales
Door-To-Door Sales
Gun Sales
Insurance Products
Kiosks
Multi-Level Marketing
Pawn Shops
Pharmaceuticals
Seminars
Time-Share
Travel Sales
Used Car Sales
Water Purifiers

This is a partial list of merchant types that may find it hard to get approved for a merchant account. 

If you are having trouble getting a merchant account, please call me to discuss your options.

MARK SANDS
http://www.usa-merchantaccount.com
 

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Reading your merchant account statement each month is very important. Many merchants simply gather the numbers for their accounting, without reading the statement. Reading the entire statement will most importantly make you aware of any changes set-forth by Visa or Mastercard. Changes to Interchange rates can effect your overall cost and changes in equipment requirements could require new programming on your equipment.

Keeping a eye on your rates & fees are good business practice. Understanding your merchant account statement can be challenging. We have a Merchant Account Statement Guide which may help you and you can alway’s call your customer support deparrtment at your credit card processing provider for help.

If you feel that you may be paying too much, please give me a call to discuss switching to the best rate.

MARK SANDS
http://www.usa-merchantaccount.com
 

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Accepting credit cards is a must in today marketplace. With the addition of Visa & MasterCard Branded debit cards to the market in the mid-1990’s, the use of plastic has exploded. Consumers who use to carry cash, now prefer to carry the debit card. Visa & Mastercard “Check Cards”, as they are referred to are accepted any where credit cards are accepted. Consumers look for the sign “We Accept Credit Cards” when deciding to make a purchase.

Credit card transactions also began to take off as consumers got comfortable using their credit card for e-commerce purchases, beginning in around the same-time debit cards were “Branded”. E-commerce transactions continue to grow each year with no end in site. With the current cost of gasoline the growth trend in e-commerce transactions should spike, as consumers can order products with free shipping and in some cases, no sales tax.

In closing, your ability to accept credit cards is a must. Your competitors will steal a large percentage of your customers if you think credit card processing is expensive. This thinking will surely cost you more money lossing sales to your competitors. Don’t be penny-wise and dollar-foolish.

If you need to discuss setting up a merchant account to accept credit cards, feel free to give me a call.

MARK SAND
http://www.usa-merchantaccount.com

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