Merchant Account Blog & Credit Card Processing Blog

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

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

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

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

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

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

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

Credit Card Processing Relationship

In business, relationships are everything, from venders, suppliers, accountants, ect. Many business owners overlook their relationship with their credit card processing representatives. Business owners should look for someone who understands their needs and can provide a complete payment solution and explain ways to save money on their rates & fees.

Further, business owners should find a person that will be available to address future issues and solve future problems. Many times a business owner will only sign a contract with a representative and never speak with him again, kind of a “Hit & Run” mentality. A good bankcard representative would alway’s be available to solve any problem, such as equipment failure, risk issues, credit card supplies, or what ever is on the merchants mind.

Conclusion, take your time in choosing a bankcard professional that can not only meet your needs, but maybe exceed your expectations. Look for a long-term relationship.

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

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

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
 

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

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

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

E-COMMERCE VIA WEB-ENABLED MOBILE PHONES

According to Juniper Research LTD, North America is just starting to see a rise in payments made via cell phone using mobile web devices. Cellular customers are finally using their web-enabled mobile phones to make credit card purchases over the web. Websites that are customized for mobile transactions will see the increase in their credit card processing. You may want to consider optimizing mobile pages on your website to benefit from these transactions. If you dont’t have an E-Commerce Merchant Account, please give us a call to discuss your needs and capitalize on this growing market channel.

These credit card transactions are projected to exceed $300 Billion by 2013.

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

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

Visa announced that it will lower the Interchange Rate on gasoline purchases in an effort to lower the cost for consumers. The first is a “Cap” on debit card transaction fee’s for “Visa Debit Cards”. This change already become effective on July 18, 2008.

A restructuring of the Interchange Rate for gasoline sales will take effect in October 2008, which will lower the fee’s associated with “Visa Credit Cards”, charged to gas stations. Hopefully this is good news for consumers, who are finding hard to make ends meet. With the competitive nature of the gasoline stations, consumers should get some relief as gas station owners pass along the saving on credit card processing to the consumers.

No word yet on Mastercard, but it is likely they will follow suit.

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

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

Credit Card Fair Free Act (HR 5546) ) - House Of Represenatives

On July 16, 2008, the U.S. House Judiciary Committee passed the Credit Card Fair Fee Act (HR 5546), by a 19 to 16 vote. Legislation was introduced by D-Rep John Conyers of Michigan back in March of this year. The bill addresses government price controls of interchange rates charged to businesses through their merchant account agreements. This bill clearly states that the board will “set rates and terms” for access to the benefits of accepting electronic payments.

We feel this bill is very dangerous to small merchant’s with business types of higher risk, as they may get squeezed out of the market, by mandated pricing by the goverment. By lowering the margin’s of the credit card processing providers, they will surely cut the amount of risk they are willing to accept. This would surely cost may small businesses, especially internet-based-merchants the ability to accept credit cards at their business, as no provider would accept the risk with lower rewards.

The credit card processing indusrty over the past ten years has regulated itself, as it should in a Free Market Economy. Ten years ago, a merchant’s monthly overhead to accept credit cards was much higher than it is today. Then, a merchant had a choice of paying $1,200 for a credit card terminal or leasing one for $3,400 over a 4 Year Contract. Those day’s are gone, as merchants can receive a free terminal with their merchant account. Today, many things are negociable, even to the smallest of merchants, as the competion is fierce with the introduction of the internet.

As for the idea of government price controls in a free market economy, well today’s congress just does not get it. Back in September of 2007, legislation was passed to control the interest-rates on student loans. This caused all of the major banks to stop student loan lending in the Spring of 2008, then guess who came to the rescue 2 month’s ago, the legislature !!! They passed a new bill, guaranteeing the student debt, with tax payer dollars. ( I don’t think they will be guranteeing any merchant accounts when mom & pop can’t get a one, do you ?? ).

Again, we think this is bad politics and bad for business. Please share your thoughts.

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

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

Level 4 Merchants:

According to Visa’s Website, a level 4 merchant is described as: Any merchant processing fewer than 20,000 Visa e-commerce transactions per year, and all other merchants-regardless of acceptance channel-processing up to 1,000,000 Visa transactions per year. Please keep in mind that this reffers to Transactions Processed, not dollar volume processed.

PCI Compliance Requirments:

An annual PCI Self-Assessment Questionnaire is to be completed ans signed by the Principal or Officers of the company. Questionaire should be available by contacting your merchant services provider.

A Quarterly Network Scan provided by an Approved Scan Vendor, is also required.

Again, please direct any questions to your merchant services provider, as failure to become compliant could result is termination of your credit card processing agreement.

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