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

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 ...

Quantum Merchant Services, credit card processing , Gift and Loyalty cards . An estimated 10 to 15% of consumers never cash in cards.  30% of card value is never redeemed. Unused value on cards is money in a merchant’s pocket! Among gift card purchasers: 56 % prefer having the ability to reload or add value to a card once used. 69% prefer a card for which they can choose the stored value versus pre-sets. Consumers are 10 times more likely to buy a gift vard over a paper certificate. Advantages for the retailer? Studies show that people spend more on gift cards than on gift certificates.  The average gift card denomination in 2008 was $50-twice the amount chosen for paper gift certificates. According to a January 2008 BigResearch survey, 50.9% of gift card holders have spent much more than the value of the card when redeeming it. Research shows that people buying with gift cards are less fussy about the prices ...

How much cash is in your wallet Cash was king how long until it's gone? How much cash do you have in your wallet? How often do use cash as opposed to your bank card or credit card? Recent statistics on cash payments are pretty eye opening.  A Barron’s report predicts that in the next 30 years cash will be used in only 10 percent of transactions. According to a McKinsey report, in 2012 cash will account for an estimated 29% of U.S. retail payments, down from 36% a decade ago. My interpretation of these statistics is that most likely, slowly but surely, cash is becoming more and more obsolete. Large card networks like MasterCard are not wasting anytime starting conversations to get people thinking about a world operating solely on electronic payments . WGBH, a public broadcaster serving southern New England, also led a discussion last week on the future of cash on their radio show The Innovation Hub. The show featured Bhaskar Chakravorti senior associate dean at the T...

Credit Card Processing is not difficult or expensive contrary to some opinions. Maybe you're hoping to process credit card payments made by donors over the phone, or to allow on-site registration at your next conference. Perhaps you want to take credit card payments at a T-shirt booth at a concert, your library's gift shop, or a craft fair or farmer's market. What's involved? The world of credit card acceptance is complex, and there are a number of ways to accept credit card. Some of which require different types of hardware and software, and relationships with credit card processing companies. Security First and Foremost Taking credit card payments requires you to sign an agreement to uphold the Payment Card Industry Data Security Standard, commonly known as PCI.  Any method will require some vigilance, like making sure payment hardware and software is secured, but some will be more security-intensive than others. For instance, using a manual card sw...