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Stop Losing Sales! Understanding Credit Card Processing And Merchant Accounts


									Presented by Daniel Toriola
Website Payment Processing. Working with hundreds of shopping carts. Electronic transfer is very important in any online business. For instance, a credit card processing merchant account center effortlessly makes own credit card transactions easy. Click here to know more

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Stop Losing Sales! Understanding Credit Card Processing And Merchant Accounts By Barry Hostetler

The more payment options you offer your customers, the more you increase your chances of making a sale. Larger purchases of goods and services very often take the form of credit cards. Being able to accept credit card payments will put more clients within your reach, and thereby cause your business to grow. There are many different credit card processing services available to choose from. Here are some essential elements of electronic payment processing that will help you make the best decision on which credit card processing company to select. Average Approval Rating This is a percentage based rating that reflects how many business applicants get accepted for credit card processing by a given company. The speed and fee of the application are also taken into account. Good processing services typically show high approval ratings. However, just as it's important for merchants to really check out different processing companies, merchants are often surprised to learn that this scrutiny goes both ways . Credit card processing companies can investigate the personal credit history of the applicant. This is understandable when you consider that setting up a merchant account is similar to taking out a loan. In the event a customer disputes a charge, credit card processing service must reimburse the customers bank and then turn to the business owner for the charged back money. If the small business owner has a low credit rating, then statistically the processing company has a lower chance of being reimbursed. As a result, business owner's personal credit is a factor in being approved for credit card processing services. So as a general rule, providers with high Average Approval Ratings are the best services to try first. Fees When a credit card is swiped, the transaction gets relayed to the credit card company, which then transfers the funds into the merchant's account. This is a great, convenient service that enables a high volume of transactions to execute quickly and efficiently. Your credit card processor is the intermediary between the customer's credit card bank and your own bank account. This is a substantial service that they perform, shielding the merchant from the complexities of secure electronic fund transfers. Like all services, this comes with fees attached. Too often these fees are bunched together so it's unclear which core services you're actually paying for. Let's get all these items out in the open. Gateway Fees This is fee for using a secure server such as to approve and process transactions.
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Presented by Daniel Toriola
Depending on arrangements with the payment gateway processor, your credit card merchant account may include gateway processing fees as a separate line item or as part of the monthly processing fee. Discount Rate A credit card processing fee charged to process each transaction, based on a percentage of the transaction's dollar amount. The rate is based on risk associated with the transaction and will likely be different for each type of credit card transaction you process. An online transaction processing fee, for example, is generally a higher discount rate than the in-person retail rate because the associated risks are higher. Look for credit card processors that have a low discount rate. Fixed transaction fees In addition to the discount rate, flat fees you pay for every credit card transaction processed. Look for transaction fees below 20 cents. Monthly Minimums This is a "floor" on the amount of credit card processing fees you pay for your merchant account and applies if other fees total less than the minimum. Cancellation Penalties. Additional processing fees if you cancel your merchant account. Chargebacks / Reversal Fees Additional credit card processing fees if your buyer protests a charge and it is subsequently reversed and/or if a transaction is reversed for other reasons. This might seem like a lot for a small business owner to take on. But every week, hundreds of small businesses across the country set up credit card processing services after doing a cost-benefit analysis and realizing that in the long run, the benefits of credit card processing - increased client volume and higher per-ticket sales - far outweigh the expenses attached. Hopefully, this information will present a clearer picture for those considering this type of business upgrade. This article was written by Barry Hostetler. Barry is a small business owner who has reaped the benefits of getting a Merchant Account from and hopes to share his knowledge with others. Setting up a Merchant Account can be a critcal step in growing your business.

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Merchant Account For Credit Card Processing By Devin Gilliland

Merchant account supports a trader or retailer in accepting credit cards and offering credit card processing service to the customer. This account enables all size of business whether large or small to offer credit card benefits to customers or buyers and is setup only after approval from merchant account service providers or banks. Credit card processing is transaction of cash via credit card account of a purchaser within seconds of swiping the card through credit card processing equipment. Credit cards have become a powerful financial tool for customers across the world. Fact that the credit card processing service releases the burden of carrying heavy cash, also it allows shopping when the pockets are empty makes credit card processing a desired service for both the buyers and the sellers. Thus, setting up a merchant account does not just assist customers and act as a tool to please them, but also a business benefit for traders who wish to see a remarkable growth and set a good status. A businessman can always earn higher sales and revenue from the credit card processing as compared to those who prefer cash transaction. Did you know that often customers with a credit card service tend to shop more than they wish too? With the financial backup in their pockets you end up cashing on their shopping temptation. As a retailer or businessman you can opt for two types of merchant accounts. These are as follows: - OTC (over the counter) - MOTO ( money-order/telephone) If you are a small business owner then it is advisable to opt for a `over the counter' merchant account, as it comes with low transaction fees and low risk as compared to `money-order/telephone-order' which takes two steps for processing. Kinds of business that can benefit from setting up a merchant account are retail store owners, petrol pump owners, restaurants and hotel owners, branded outlet owners and exhibitioners or stall owners at trade fairs. Land based stores, online trade or business, business via telephonic orders are some of the trade or business format that involve implementation of merchant account. In simple words merchant account is like permission from bank that provides a trader or businessman with credit card processing services and facilities. Credit card processing is the technology that benefits without a doubt but to utilize the service you need to set up a merchant account. It is advisable that you find out about various banks or merchant account providing such facility; also do not forget to inquire about the basic details and fee charges for setting up a merchant account. Once an account is created you are ready to treat your customer with credit card processing privileges. You can always attract customers to shop with you with their credit card. If you are someone who has business on internet then by setting up a merchant account will help you trade via credit card transaction. Once you are a credit card processing provider, you are also a safe transaction provider for your customers, as credit card processing does not just mean easy shopping but also safe shopping.

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Presented by Daniel Toriola
Devin Gilliland provides expert opinions and advice on how to compare and apply for credit cards at For credit card processing visit:

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