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

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 th...

Whether you operate a storefront business or an e-commerce store, there are many unconventional benefits of accepting credit cards . Sure, you know that you will become more accessible to your customers, but what hidden benefits lay beneath your POS terminal or payment gateway? Let us look at the unexpected benefits of credit card processing . Builds Customer Trust When you think of accepting credit cards , you probably do not think about it building trust with your customers. However, think about every tiny detail encompassed in the merchant account application process. You provide the merchant account service provider with your personal and business details — bank account information, utility bills, credit card processing history, referral letters. Obtaining a merchant account so you can process card payments is like getting a seal of approval from your customers. Y ou process credit cards with us, so your customers will trust you too. Rob Olson, Owner Quan...

Job Description If you are a confident and highly motivated individual looking for a great sales opportunity with uncapped earning and growth potential, join our Sales team at Quantum Merchant Services ! We are seeking energetic and entrepreneurial Outside Sales Reps to market our credit card processing services, social media tools, mobile marketing solutions and loyalty rewards programs to businesses across the country. You must also provide excellent customer service to your client accounts. JOB RESPONSIBILITIES As an Outside Sales Rep with Quantum Merchant Services, you will identify customer needs in terms of merchant services, social media and mobile marketing and suggest Quantum Merchant Services solutions that best meet their business needs. You will also conduct periodic customer service and quality assurance visits with your merchant clients to maintain strong working relationships and grow sales accounts. Additional responsibilities of the Outside Sales Rep include: ...

Merchant Accounts the Latest Concern, Holdbacks Whether you already have a merchant account to process credit card transactions , are looking to switch or compare merchant account providers , or need a merchant account for the first time, there are many pitfalls to avoid.  These include processing delays, changing fees and rates, rules on chargebacks — and the latest hot button on “ holdbacks. Tight credit, rising business bankruptcies and changes in how consumers use their credit cards are contributing to an unusual amount of financial uproar involving credit cards. For small business owners , the top credit card issue right now is holdbacks.  This is a percentage of your overall credit card receipts that the card processor or merchant bank keeps to cover possible chargebacks if a customer returns something or demands a refund for other reasons. Lately, merchant banks and card processors have started requiring new or larger holdbacks to cushion their own bottom lin...

A quick look at what this means to you. Have you heard about the Durbin Amendment, which went into effect on October 1, 2011? If you have a merchant account , or you process payments in any way, then you need to know how this landmark decision can affect your day to day business. Facts about the Durbin Amendment The Durbin Amendment is a landmark decision. This is the first time we have ever seen this large of a reduction in payment processing fees. This cuts the costs for Debit transactions almost %50. Combined, debit transactions make up 50-70% of the processing done by businesses. Imagine paying up to half of what you currently pay on 50-70% of the cards you are currently processing? How You Can Save Money with the Durbin Amendment At Quantum Merchant Services , we are telling all of our customers about the Durbin Amendment and the impact that it is going to have on their bottom line. Up front honesty, it’s all part of the QMS Difference. If your merchant services compan...

Processing Credit Cards The basics Credit card processing is not difficult or expensive contrary to some opinions. Maybe you're hoping to process 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....

Why is it important to choose a reliable Credit Card Processing Company ? Whether you’re looking to make a switch or picking one for the first time, choosing a merchant processor is a very important decision and can be vital to the overall success of your business. One of the most important ways to make your business thrive is to please your customers and, many times, that means offering a variety of payment methods. According to one estimate, businesses forfeit up to 80 percent of consumer impulse buys if they don't accept credit cards . But, before making the switch, or picking one for the first time, business owners need to select their merchant processing service with care. To date, in 2011, the BBB has received more than 1,700 complaints against credit card merchant and processing services. “Accepting credit cards gives customers options, whether it’s to charge a purchase and pay it off over time, or to use a debit card rather than write a check. By offering your c...