Merchant Account Blog & Credit Card Processing Blog

Welcome back!

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

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Gas Station Owners - Save Money At The Pumps

Gas station owners should be feeling the lower cost of pay at the pump transactions, with the decrease in interchange cost passed on by Visa last fall. Visa lowered the interchange pass-through at the hieght of the gas crisis last fall. This savings at pay at pumps stations was hoped to be passed on to the consumer.

We are finding that many gas staion owners who are not on a Interchange Plus plan with their merchant account provider, have not seen any savings. These merchant’s are on a Teired Rate plan and the savings is being lost to their merchant account provider.

Owners should look to switch their gas station merchant account to an Interchange Plus merchant account to maximize overall savings on cost. With many business travelers utilizing the pay at pumps, the savings could be signifigant. The higher your sales volume, the higher the savings.

For more information on saving money on credit card processing, please feel free to give me a call to discuss your options.

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

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Merchant Account For High Monthly Volume Business

Good news for businesses having a problem getting a single merchant account to process their high volume credit card charges. We are rolling out our “High Volume Merchant Account“, for merchants processing high monthly volumes on their credit card processing. Merchants currently processing with multiple accounts, can now shift them in a single, low rate, merchant account.

The problem, many high volume businesses are forced to open multiple accounts, as many processors “Cap” their risk, at a certain dollar amount. This forces the business owner to spread out their credit card processing with several banks. This is a bookkeeping night mire and forces owners to monitor credit card sales volumes on a daily basis.

We now offer these merchant’s a solution with our High Volume Merchant Account. If you have a solid credit card processing history, a fairly good credit rating, and monthly statements to prove it, we can offer you a single source for all of your credit card processing needs. We will even compete with the lowest rate possible for your situation. You may even qualify for our Interchange Plus Pricing, which will save you on downgraded transactions which fall under Non-Qualified Transactions.

If you are currently processing credit cards, but having issues about your volume, please feel free to give me a call to discuss a solution.

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

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VISA Reports Earnings After The Bell !!!!!!!!

Visa ( V ) reported strong numbers after the bell, sending shares higher in after-hours trading. Visa beat the street expectations posting an adjusted $0.78 earnings per share. Company more importantly reported a 12% Growth In Transaction Volume, over last year.

“We are very pleased with our fiscal first quarter earnings results and our ability to deliver strong operating performance,” said Joseph Saunders, Chairman and Chief Executive Officer. “Despite the increasingly challenging economy, processed transaction growth, the strength of debit, and the global diversity of our business continue to highlight the resilience of our business model.”

Keep in mind that Visa is not a lender, nor a bank. They make a “Percentage” on the transaction volume.

Shares are soaring at the moment, trading up in “After-Hours” trading.

DIGG THIS STORY !!!!!!!!!!!!!!!!!

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Cardholder Fees On Foreign Transactions !!!!

Planning a vacation out-side of the United States ??? Planning a large ecommerce purchase from a foreign country ???? Well be prepared to pay a “International Transaction Fee” if you are using your credit card. These fees are charged by issuing-banks to cardholders who make purchases outside of the United States and may include US Territories, such as the Virgin Islands or St. Thomas.

Keep in mind that the fee is based on US Dollar Amount of your purchase, ie.. if you make a purchase in Europe at $100 Euros, your fee is based on $125 US Dollars after the currency conversion. With the current value of the dollar being at historic lows, you may want to take this into consideration when planning major overseas purchases.

Fees may vary between different issuing banks, with Capitol One claiming they do not charge any fee on foreign credit card transactions. Here is a list of popular issuing banks published at CardRatings.Com, with their current fees for international purchases:

A January 2009 survey of credit card issuers revealed the following foreign transaction fees:

• American Express - 2.7%
• Bank of America - 3%
• Chase - 3%
• Citi Bank - 3%
• HSBC - 3%
• Washington Mutual - 1%
• Wells Fargo - 3%
• Capital One - No Foreign Transaction Fee !!!!!!!!!!!!!
• Discover- No fees. Accepted in China, the Caribbean, Central America, Mexico and certain parts of Europe. Note: Discover is adding a 2% fee on May 1, 2009.

CARDHOLDER’S BEWARE:

We hope this saves you a huge surprise when receiving that credit card statement after making that large foreign purchase. Reading that fine-print in a cardholder agreement is never easy, but knowing the facts can keep you from falling into a trap.

Buy American !!!!

DIGG THIS STORY !!!!!!!!!!!!!!!!!!!!!!!

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

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INTRODUCING INTERCHANGE PLUS PRICING

We are rolling-out “Interchange Plus Pricing” to any merchant, interested in saving money on their credit card processing fee’s. Once reserved for only the Walmart Size businesses, this program will save you money on your merchant account fees. Interchange Plus Pricing takes the “True Cost” charged by Visa or Mastercard and adds a cap on the markup charged by your processor, with a small margin above the true cost of a credit card transaction.

Merchants processing more than $20,000 Per Month, should see a substancial saving, with the program.

Any merchant who is interested, please give us a call.

DIGG THIS STORY !!!!!!!!!!!!!!!!!!!!!!

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

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Amazon.com Blows Away Wall Street - Shares Soar !!!

Ecommerce Giant Amazon.com Inc (AMZN), blew away Wall Street this morning with an “Monster” 4th Quarter Report. Company reported higher than expected numbers before the bell this morning. Shares soaring with share prices running up +17 % at the market open.

Company reported a 4th Quarter increase in revenew of +18 %. Company saw an assume increase in international sales, which finished the quarter with an astonishing 31% rise in international orders, putting them over-the-top for the quarter.

Company guidance was very strong going forward in 2009 and they were very optimistic for the current first quarter of 2009.

Good News For Ecommerce Merchants

News presents a large confidence boost for merchants selling products online. In this current economic downturn, many online sellers are very concerned about the future and this is “Great News” as we go forward into the spring of 2009. Ecommerce merchant account and credit card processing customers should take a deep breathe, savor this news, and hope that consumer confidence has bottomed and we’re on the road to recovery in the United States.

We remain optimistic !!!

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

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Credit Ratings & Merchant Account Approval

People sometimes do not understand why their credit rating is a factor that underwriters look at when approving a new merchant account application. Many times credit card processors will “Decline” a merchant soley based on their credit score.

Why The Credit Factor Is Important

Business owners must realize that appling for a merchant account, is like appling for a credit line. The projected “Monthly Volume” stated on a new merchant account application, is the amount of “Risk” the merchant’s processor is willing to accept. If you are asking for $20,000 in Monthly Volume and your credit scores are “Very Poor”, you may be declined an approval on your merchant account.

Understanding The Risk - In Credit Card Processing

Understanding the “Risk” in credit card processing should be understood by every new merchant. Accepting credit cards is not like accepting cash, as every cardholder has the right to call their credit card company and potentially get a charge “Reversed” in a “Chargeback”.

The risk for the bank is that the merchant may not have those “Reversed Funds” immediately available to complete the chargeback process. In this case, the merchant bank must cover the chargeback and then come after the merchant for the “Money Owed”.

This is why the financial responsibility is so important !!!!!!!

In closing every merchant application is on a case-by-case basis, with many other factors that are considered. If you have “Poor Credit” and need help in getting a merchant account, please give me a call to discuss your options.

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

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Heartland Payment Systems Inc Data Breach

More information has surfaced on the cardholder data breach that occurred at the Princeton NJ’s credit card processor, “Heartland Payments Systems, Inc”. President and Chief Financial Officer, Robert Baldwin, stated “As deeply regretful as we are, it is important to note that in most of the cases the information would be card number and expiration date only,” and that “The majority of the data breached did not have names or other personally identifiable information available to the bad guys. So there’s nothing our merchants need to worry about.”

Seems that only customer card numbers and expiration dates were compromised and that no personal information, such as names, addresses, social security numbers, were compromised in the theft. Still no information on any damages to cardholders have been released.

Merchant’s processing with Heartland Payment Systems, Inc will be held harmless, as the breach took place on the server-side of the card processor. Small business owners with a merchant account should be sure that they are PCI Compliant to avoid any credit card processing fines from Visa or Mastercard. Here is A GOOD VIDEO to help small merchants understand their risk and responsibilities in combating credit card fraud.

Company Cites Cyber Terorrism Attack

Baldwin said Heartland executives have been in discussion with the U.S. Department of Justice and the U.S. Secret Service and were informed that this breach was committed by an international organization that has also targeted other U.S. processors and financial institutions.

“I am finding it hard to believe that we are not responding to an obvious act of cyber terrorism aimed at trying to disrupt the payment system of the United States, and it just blows me away that nobody sees it,” Martaus said. “All of these intrusions are the work of one Russian Mafia gang. And 15 other processors apparently have been attacked and no one knows about it.”

Martaus suggested, however, that federal officials do know about these attacks but they’re not telling anybody. “This should be a national emergency, and the Pentagon, the National Security Agency, everybody should be involved in this,” he said. “This could absolutely destabilize the payments industry and bring it to its knees. A cyber terrorist attack, while not meant to destabilize the government or the economy, can do just that.”

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

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US Banks Report Lower Credit Card Spending

The large US Banks reported lower credit card spending in Q4-2008. According to CNN Money, the large issuing banks report consumer credit card spending was down in the 4th Quarter of 2008.

• Bank Of America: Down 17.2 % in Q4, over the same quarter.
• Citi Bank: Down 15 % year-over-year.
• JP Morgan Chase: 8 % decrease, year-over-year.

In the face of the worst economic cycle in decades, the consumer is pulling in the reins on credit card spending. With consumer confidence at the lowest levels since the “Great Depression” and the uncertainty on weather the new administration can actually put us on a path to recovery, the US Consumer is sitting on the sideline, waiting for the “Miracle Of Change”, promised last fall.

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

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