Credit Card Processing | High Risk Credit Card Processing | Card Processing Fees

Today, merchant account services are a reality for most business. 80 percent of all retail customers opt to pay with their credit and debit cards. If your company does not accept credit cards, your customers more than likely will go somewhere else like; your competitor. The acceptance of major credit cards is a key factor to the success of your business. In considering a new merchant account provider beware of those companies that may try to lure you by offering free credit card terminals. We all want something for free, c'mon, nothing is really free. The most honest merchant account providers suggest that you own your own credit card machine. If  not, they’re more than likely trying to get you to pay higher rates, and that is easily avoidable. Free credit card terminal programs are designed to process more charges over a longer timeframe, you end up paying higher fees or a higher than normal processing rate. By owning your own processing terminal this enables you to depreciate th...

New Research Finds Growth in Credit Card Processing More and more businesses are accepting credit cards . Tag: Credit Card Processing A new report by Research and Markets explores electronic payment processing market and reveals that the industry is growing. The study, which is called Payment Cards in the country, discusses the increasing number of businesses that are accepting credit cards, noticeable trends and future forecasts. The report found some key tendencies. One of them is a well-developed market of card usage, with 3.7 cards per person. Furthermore, most card-issuing activity can be attributed to the five largest banks in the nation, which account for 61 percent of its credit industry.. Finally, gas stations, coffee shops and restaurants, remain the most popular businesses where credit cards are used. Besides explaining these findings, the document details future opportunities for payment processing. Analysis on regulations and future legislation is...

1 minute guide to Credit Card Processing, PCI Compliance PCI-DSS has been around for several years now, in case you are just learning about PCI, here is a short breakdown on PCI compliance. PCI is a security framework created to help prevent/curb the loss of credit card data. It covers some of the more basic aspects of data security, but is not security itself. PCI compliance ≠ Security . If you accept credit cards , you must be PCI compliant. No ifs, ands, or buts. Most data breaches occur at small to medium size retail businesses. You are a soft target and thieves know it! This is especially true if you have a POS computer system. Being PCI compliant does not remove liability in case you still suffer a data breach. It “may” reduce or eliminate fines but will not eliminate actual costs resulting from a data breach. With respect to the actual process, gaining PCI compliance requires you to fill out a self assessment questi...

Banks and credit card companies say that interchange fees are simply the cost of doing business. However, merchants have started to notice wide discrepancies in charges pertaining to credit card processing for business   – and those discrepancies could jeopardize their bottom line profits, especially if they are small businesses just getting started. Interchange fees account for roughly 2 percent of every credit card purchase, but it can really add up for merchants with slim margins like supermarkets and convenience stores. Not only do interchange fees add up to a $48 billion a year industry, but  Business Week urges us to think of it this way: Home Depot pays more in interchange fees than it pays for employee health care. Why Charge Interchange Fees? Credit cards make it easier for consumer-merchant interactions and it is a convenience that should come with a charge, say card issuers. After all, merchants benefit greatly from being able to accept credit ...

Explaining Credit Card Processing Written by Rob Olson, President Quantum Merchant Services tag key words; credit card processing, merchant service accounts, accept credit cards, card processing equipment, what is a merchant account, card processing fees, credit card processing companies, Consumers increasingly are turning to plastic over paper when they open their wallets. In 2012, credit cards were responsible for more than $2.5 trillion in transactions, according to the American Bankers Association. When you add another $1.63 trillion for debit and prepaid Visa and MasterCards transactions, according to Nilson Report, you quickly understand that plastic is a necessary payment option for most businesses. Yet many small businesses still don't accept credit cards. If you're one of the laggards, the entire transaction may retain the aura of a mystic ritual — swipe a card, input some numbers, and money magically appears in the bank. In reality, though, credit ...

30 Second Fraud Checklist for Ecommerce Merchants Credit card fraud and online ordering fraud has hampered ecommerce merchants since the first credit card payment was taken over the internet. Because fraud is still successful, and because there is virtually no way to go after someone you suspect of fraud, it is still a plague to website owners trying to run a business on the internet. Online fraud is especially troublesome to online retailers, because they end up losing twice, first when the merchandise they shipped is not recoverable, and second when the real cardholder makes a chargeback. Now they lose the merchandise and the money they would have collected for it. There are numerous fraud screening applications designed to help ecommerce merchants that accept credit cards prevent accepting and shipping fraudulent orders. However, many ecommerce sites aren't even covering the most basic of fraud screening principals. Here is 10 items that should be checked on every ...