TABLE OF CONTENTS
Tips On Choosing Credit Card Processing Companies 3
The Business of Being A Merchant — Credit Card Processing Made Easy 4
Experts’ Advice On How To Cut Back On Credit Card Processing Fees For A Business 5
What Are To Gain From The Services Of Merchant Account Providers 6
Colorado-based,Total Merchant Services Continues To Improve With Technology 7
Tips On Choosing Credit Card Processing Companies
You spot a fabulous pair of red shoes at the store. You ask
for them in your size and take them to the counter
immediately. You present your plastic; the cashier swipes it
with a flourish. You exit the store, and go home feeling just
a little bit lighter. Of course, paying for the transaction is
another story, but just for point of purchase, using a credit
card is so easy and convenient if you’re a customer.
If you’re the merchant, the process may be a little bit more
complicated. Their accounts won’t be getting money the
customer pays the moment the credit card is swiped. Depending on the method of processing they have
chosen, the transaction will be relayed first to various intermediaries, agents, or middlemen, and get deducted
with various fees and commissions before they can see it reflected in their earnings. If the business owner was
not very careful in choosing from the numerous credit card processing companies offering their services, they
can end up throwing hard-earned money right into the hands of ruthless third parties.
The credit card processing company’s task is to efficiently and safely manage credit card payments from the
point-of-sale to the credit card company to the merchant bank account. When chosen well, the right
processor can help you run your business more efficiently, serve your customers better, protect your financial
interests, and even enhance awareness for your brand. Make sure you deal with companies that can provide
you quality service and an honest approach to business.
When choosing a processor, understand the fees involved when getting their services. Look for companies
that can provide you the lowest rates in a highly transparent, itemized billing structure. In business, every cent
counts, so make sure you understand all the terms of your agreement and every item is accounted for. Time
matters too, so make certain the money gets to your account within a reasonable period. Too long lag times
may mean their fraud checking systems may be inefficient, or worse, they may be trying to gain interest by
hoarding the funds in their account first.
Consider companies that provide you flexibility by offering no contracts, as well as no cancellation fees in the
event that you wish to discontinue their services. Does the equipment they provide part of the paid package,
for free, or would they take it away when the partnership ends?
Lastly, weigh the additional value-for-money services a credit card processor has to offer. Some more
innovative companies offer merchants a chance to come up with their own easy-swipe gift and loyalty cards, a
proven way to generate more income and strengthen customer relationships. When you find a processor that
not only manages your money, but also helps you earn more, now that’s a good catch.
The Business of Being A Merchant — Credit Card Processing Made Easy
Going into business is rarely simple. There are loads of papers to file
so your company is legal and able to operate within a location.
There are issues to deal with concerning hiring and sourcing of
materials and services that are essential to your operation. A
mistake with each process of establishing your company could
prove to be costly — and you haven’t even started yet. Suffice it to
say that being knowledgeable with every aspect of your business is
crucial to its success. If you happen to be a retail merchant, credit
card processing is one of the things you should be familiar with
because not knowing what it is and considering it for your business
could mean profit losses.
As a modern business, whether you’re running a fashion boutique
or a lifestyle store, you will have customers who will be paying with their credit cards. To not offer credit card payment
options would be to turn away business — in droves. Now that’s just bad business. What you need to do is shop around
for the best merchant services agreement that can process your credit card transactions and save you money. Try not to
be swayed by the first sales representative that pitches you a seemingly attractive offer for your credit card processing.
Always get three or five bids so you get the best possible service and price.
Some businesses, especially startups, may find their processing statements confusing and frustrating. This is mostly
because they soon find out that they’ll have to pay a steep processing fee, which they didn’t initially realize. The high
processing payment can be compounded by the fact that the processor doesn’t even provide satisfactory service. So be
aware of the processing payment and how the merchant services provider structures their fees.
Here’s another important thing to ask your merchant service provider or to read on your credit card processing contract
before you sign off on one: cancellation fee. A cancellation fee can be as minimal as a few hundred dollars to several
thousand dollars. It’s a fee that can tie your business down to a contract that requires you to maintain a service for a
length of time. If you terminate the contract before it expires, you’ll have to pay the indicated fee. For small retail
businesses or shops that are just starting out, choosing a merchant service provider that has a “no cancellation fee”
guarantee would be a wise investment.
Additionally, a merchant services provider that can offer perks like free terminal equipment would save you a bundle
from having to buy your store’s credit card processing terminal.
Overhead costs can pile up when you’re just starting out. Lease payment on the space, utility bills, shipping costs for
materials and such — any area where you can cut costs down to a minimum would help you run your business well. And
credit card processing could be one source of savings. By getting as many merchant services provider to bid, reading the
fine print on an agreement and scrutinizing the fee structure, and paying attention to added perks that will save you
money, you’ll be able to keep your costs under control and, hopefully, see a bit of profit. Click here for a complete
payment solution for your company http://thefreeterminal.com
Experts’ Advice On How To Cut Back On Credit Card Processing Fees For A Business
Customers rarely understand the complicated conditions and
considerations that business establishments have in allowing credit card
payments for their services. Most fledgling businesses take a
considerable amount of time in deciding whether to just stick to cash
payments or to welcome credit card transactions mainly because of the
credit card processing fees; a business that earns approximately $2
million per annum and loses 24K of that instantly solely for credit card
processing is not an encouraging illustration.
To those who are not aware of these fees, they’re basically the charges
for every card swipe and the base rate percentage for each bill. So if you
use your credit card to pay at a restaurant, the initial bill you get for your
meal may reflect additional cost once you decide to pay using your card
and that’s one of the effects of credit card processing.
Oftentimes, businesses choose the bank they use for their operations for their credit card processing. This has
proven to be incredibly costly for merchants, however, so experts shared valuable advice on how to reduce
credit card processing fees to help business owners secure their profits better.
Firstly, doing the appropriate research before settling with any credit card processor is always helpful.
According to an article by Forbes.com, “Using third party service providers is a cheaper way to go.” Why is this
so? Having a middleman can cut down costs because, instead of making the merchant responsible for the fees
of the bank, the middleman unloads him of this responsibility by being the party that directly deals with the
credit card company. All the merchant has to pay is the middleman’s charge of around 2 to 5 per cent of the
sale and this is considerably lower compared to directly shouldering the credit card companies charge.
Other authorities also advise going with a reputable service provider that has been in the industry a long time
and has extensive knowledge and understanding of credit card processing for they can be relied on to be
mindful of the many considerations and requirements that merchants have; these seasoned providers can
properly explain the reasoning behind costs (such as the base cost and mark-ups) which can then lead to a
more sound ultimate decision.
However, should merchants decide to let their bank handle their credit card processing, experts claim that
always being prompt with the payments is crucial. Untended financial obligations always rake in interests and
extra charges so to avoid being penalized and being charged extra, be mindful of the schedule of payments
and always pay on time.
Lastly, choosing the right equipment can also lead to savings; by going with a dynamic machine that can
already do it all (such as easily connect to different portals) will no longer require additional gadgets that may
not only consume more energy but complicate the process as well. Purchase the ideal credit card machine
What Can Be Gained From The Services Of Merchant Account Providers?
A lot of people nowadays are learning the value of being their
own boss instead of spending practically half their lifetime
slaving away for some company. It takes a lot of guts
however to walk away from a steady professional career in a
company. Actually, not only guts, but business know-how as
well. Starting a business is not that easy and there are so
many risks involved. To be successful, you have to be very
diligent and vigilant because there are so many unpredictable
factors that will come into play the moment you finally decide
to launch a business venture.
One of the really important things to look into, especially if
you intend to put up a store is the service of merchant
account providers. If you have no idea what they are what they are for, essentially, “they provide businesses
the ability to accept debit and credit cards in payment for goods and services. This can be face-to-face, on the
telephone, or over the Internet.” Since a lot of people make their payments with a credit or debit card, your
store will surely need to consider the services of merchant account providers. Well, you won’t be requiring
more than one for the job, but it’s always helpful to look into the range of services available through the
As the definition provides, your business will be able to accept credit card payments. This is advantageous
because you can expand your client base by being able to accommodate this popular payment option.
The second benefit is that their services include managing security concerns and preventing fraudulent
transactions. Keeping security defenses up is imperative for every business and if your business sells really
expensive products and you want to safeguard your earnings from robbers who target the cash register, credit
card payments will definitely frustrate them. Your merchant account provider has your money secured away
from the scene of the crime.
Third benefit is that they provide easy access to banking networks across the globe. The Internet has opened
the doors to international transactions and merchant account providers utilize advanced technology to allow
businesses to extend their reach. Offshore customers can make their payments online through their
smartphones and tablet PCs.
Lastly, it’s going to be so much easier to store customer information and better manage customer relations.
Record-keeping is very important in business and a more efficient way of going about this is by having a
“partner” that’s highly efficient and effective in this task. We can be your business’ perfect partner, visit us
now here http://thefreeterminal.com/merchant-account-providers
Colorado-based Total Merchant Services
Continues To Improve With Technology With Introduction of New Provisions
In earlier times, payments always required people to bring
along precious gems or stones, gold and silver. These items
eventually were replaced with money, and though money is
still being used to this day, a lot of people can easily make
their purchases without having money on them. All they need
now is a credit or debit card – yes, this ID-sized plastic card is
honored in most stores, restaurants and other
accommodations and is a valid means of payment for any
product or service.
So, if you’re thinking of starting a business, it’s imperative that
you be able to cater to the continuously growing number of
consumers who prefer to keep their money in the bank and pay for products and services with “plastic.” A
business that has the right technology to process credit card payments can easily draw more customers, so if
you want to provide your business this edge, the first thing you should do is to have the services of a merchant
account provider. A merchant account service that a lot of businesses are turning to is Total Merchant
Services; known as the one-stop merchant account service available at average monthly prices, business folks
rely on this particular provider for payments done via credit card or through a virtual payment portal. Founded
in 1996, TMS is a leader in merchant bankcard business; it provides cost-effective and innovative solutions to
both virtual and brick-and-mortar merchants.
This service has stringent standards for its clientele and only accepts those that have an “acceptable type of
business.” While some people criticize this condition, for some businesses, it serves as a challenge to be able
to meet the standards of TMS.
TMS has low monthly charges which a lot of merchant-account businesses particularly appreciate considering
the wide range of services and features available through it. Compared to other service providers, the amount
of money that can be saved every month is truly substantial. Recently it added a very important perk for its
customers by throwing in for free the best equipment used for credit card processing when they sign up to
work with TMS. No more searching around for the best deals for terminal equipment because TMS will already
provide it at no additional cost to customers.
Another new provision from TMS as well is the ROAMpay card swipe device. With this gadget, you can
instantly turn your smartphone into a credit card terminal – therefore, providing your business even more
flexibility. You can accept credit or debit card payments even if you’re not in your store.
All these features and new provisions only go to show that TMS is properly accommodating the technological
advancements that are elevating the way businesses are operated. Whatever new advancements may come,
such as an embedded chip behind the palm to pay for purchases, customers can rely on TMS to be ready. Visit
TheFreeterminal and we can provide you the services that you need in terms of credit card transactions.