Don't Get Hacked - Best Practices For Protecting Your Business
by: Nick Temple
Don't Get Hacked You've seen it in the news - 40 million credit cards exposed! With all the news about web sites being hacked and cyber thieves stealing credit card numbers and other personal data, it's no wonder that some shoppers are still hesitant to provide payment information online. You don't have to be. Is it enough that users trust you? Common marketing wisdom shows that one of the most valuable assets any Internet Marketer has is trust. People go to extreme measures to build this trust - online pictures, testimonials, audio - some even go as far as to open storefronts to give people that "good feeling". But all of this may simply not be enough. A recent Harris Interactive survey found that 75 percent of consumers polled worry that companies will share personal data with other corporations without permissions, while 70 percent doubt the security of online transactions and 69 percent fear that hackers will steal their personal data submitted online. You see, just because a user trusts you, doesn't necessarily mean that the customer trusts your website or your payment processor. Once you've established rapport with your customer base, the next step is to build trust in your website. Whether you collect credit card information yourself, or have a third party processor handle your transactions for you, it's crucial that people understand that you are serious about protecting their privacy and information. Here's a few things you can do to help out. *) Install a Secure Server Certificate on your server to close that "lock" on people's browsers. Even if you don't collect credit card information, people feel better about having the information they send to you be secure. Also, consider using a "top tier" Certificate provider, such as Verisign. While other providers may have nearly equally secure solutions, the reason you are buying the certificate is to instill trust in your customers, which other providers do not necessarily have in abundance. *) Have a clear, clean privacy policy statement in addition to the "legalese" required by the FTC. If you don't sell addresses, tell people so. *) Secure your server. I know that this seems obvious, but most people pay no attention to their webserver or the software they are running. Knowing what software you have running, and keeping up-to-date on patches will help significantly. *) Install an Intrusion Detection System (IDS) I estimate 73% or more of all websites have no intrusion detection system in place. What this means is that not only can most websites be hacked easily, it is very likely that the website owner has no clue if that they have been compromised. *) Turn off unneeded services and ports, and uninstall unused software. The premise here is that the less "stuff" on your machine, the less chance for exploit. For example, MySQL listens on the Internet for messages form other servers, yet most small websites access the database system only from the machine it is running on. It is very simple to make MySQL "invisible" to the Internet - making it much more secure if you don't need to access it from other systems. There are many, many more simple techniques like this you can apply to your server to keep hackers out. In summary, consumers are quickly becoming Internet savvy and they take their privacy seriously. There is nothing, and I mean nothing, that can hurt your credibility more than your customers and potential customers getting SPAM to email addresses that they provided only to you - in the best case, they will think that you sold their address. Responding that no, you didn't sell their address, but someone hacked your server and stole ALL their personal information won't make them feel a whole lot better about doing business with you in the future. For more information, visit http://www.DontGetHacked.info About the author:The new website, http://www.dontgethacked.info/clearly explains the threat that Internet Marketers face today, and shows you exactly what you can do to protect yourself from the threats.
Saturday, October 20, 2007
013
Does your business accept credit cards?
by: Jakob Jelling
It has become increasingly important for businesses to be able to accept credit cards. Credit cards are the preferred method of payment nowadays. Whether you are an online merchant or own an on-site business, if you do not accept credit cards you are missing out on a lot of revenue. To accept credit cards your business needs a credit card processing system. Creating a merchant account gives you that ability. Merchant accounts are accounts especially crafted to fit the needs of businesses to accept money. If you own a store, you will need a card swipe terminal to accept credit card payments. Your merchant account provider may be able to provide you with this equipment. There will be a purchase fee or rent fee associated with the equipment. You can also shop elsewhere for point of sale equipment. POS terminal software can ease the processing of credit cards and can ease the job of a cashier at grocery stores, merchandise stores, bookshops, or any other type of store you own. Once the equipment is in place you are ready to go. When a customer asks ‘do you accept credit cards?’ your answer will be a definite yes. At the Point of Sale terminal, customers can check out their items and pay by credit. You slide the credit card into the machine and it will automatically make the payment. To accept credit cards is even more crucial for Internet merchants. If you only use checks to accept payments, it can be troublesome for customers to write and mail the check. Online payment methods such as Paypal and StormPay also have drawbacks since many people do not have accounts with them. These can be your secondary payment methods but it is important to be able to accept credit cards. Different websites have different reasons to accept credit card payments. Some sites ask for a membership or subscription fee. Some sites may deliver tangible products where the payment gateway must be integrated with the shopping cart. Others may require a fee for online consumption of such things as music, movies, etc. You will need an Internet merchant account to make a payment gateway on your e-commerce Website to accept credit cards. You have a great choice when it comes to selecting a merchant account. Things to look for when making your choice are: - Fees, such as transaction, set up and charge back - Reliable security features - Professional customer support - The Company’s reputation and stability If you are not skilled in programming, you should seek a merchant account provider that will set up your payment gateway for you or provide a cut and paste code. Setting up the payment gateway, to accept credit cards, in the right place and integrating it into your e-commerce Website is essential to driving sales. The gateway must be secure and the payment processing time must be fast. Why you must Accept Credit Cards? For online purchases, a majority of customers pay by credit cards. Thus if you do not accept credit cards you have reduced your customer base tremendously. Also credit cards promote impulse buying. You do not want to give your customers time to rethink their purchase when they are writing a check with all those zeros. Also it can add credibility and professionalism to your business. If you accept credit cards, your site will look more legitimate and customers will have greater peace of mind when making payments. Your payment processor will be working and making money 24 hours a day, even while you sleep. The benefits of accepting credit cards are many, even for on-site businesses. Credit cards are a convenient way to make payments. Customers do not have to carry cash around. Just slide the card in the processor and the payment is done. The merchant can potentially see a great increase in sales. About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
by: Jakob Jelling
It has become increasingly important for businesses to be able to accept credit cards. Credit cards are the preferred method of payment nowadays. Whether you are an online merchant or own an on-site business, if you do not accept credit cards you are missing out on a lot of revenue. To accept credit cards your business needs a credit card processing system. Creating a merchant account gives you that ability. Merchant accounts are accounts especially crafted to fit the needs of businesses to accept money. If you own a store, you will need a card swipe terminal to accept credit card payments. Your merchant account provider may be able to provide you with this equipment. There will be a purchase fee or rent fee associated with the equipment. You can also shop elsewhere for point of sale equipment. POS terminal software can ease the processing of credit cards and can ease the job of a cashier at grocery stores, merchandise stores, bookshops, or any other type of store you own. Once the equipment is in place you are ready to go. When a customer asks ‘do you accept credit cards?’ your answer will be a definite yes. At the Point of Sale terminal, customers can check out their items and pay by credit. You slide the credit card into the machine and it will automatically make the payment. To accept credit cards is even more crucial for Internet merchants. If you only use checks to accept payments, it can be troublesome for customers to write and mail the check. Online payment methods such as Paypal and StormPay also have drawbacks since many people do not have accounts with them. These can be your secondary payment methods but it is important to be able to accept credit cards. Different websites have different reasons to accept credit card payments. Some sites ask for a membership or subscription fee. Some sites may deliver tangible products where the payment gateway must be integrated with the shopping cart. Others may require a fee for online consumption of such things as music, movies, etc. You will need an Internet merchant account to make a payment gateway on your e-commerce Website to accept credit cards. You have a great choice when it comes to selecting a merchant account. Things to look for when making your choice are: - Fees, such as transaction, set up and charge back - Reliable security features - Professional customer support - The Company’s reputation and stability If you are not skilled in programming, you should seek a merchant account provider that will set up your payment gateway for you or provide a cut and paste code. Setting up the payment gateway, to accept credit cards, in the right place and integrating it into your e-commerce Website is essential to driving sales. The gateway must be secure and the payment processing time must be fast. Why you must Accept Credit Cards? For online purchases, a majority of customers pay by credit cards. Thus if you do not accept credit cards you have reduced your customer base tremendously. Also credit cards promote impulse buying. You do not want to give your customers time to rethink their purchase when they are writing a check with all those zeros. Also it can add credibility and professionalism to your business. If you accept credit cards, your site will look more legitimate and customers will have greater peace of mind when making payments. Your payment processor will be working and making money 24 hours a day, even while you sleep. The benefits of accepting credit cards are many, even for on-site businesses. Credit cards are a convenient way to make payments. Customers do not have to carry cash around. Just slide the card in the processor and the payment is done. The merchant can potentially see a great increase in sales. About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
012
Credit Card Processing: Legally Beat the System by Passing Processing Fees to Customers
by: Jack Lang
Imposing surcharges on credit card transactions is illegal, and it will only lead to problems. The secret to beating the credit card processing system is not charging more for credit card sales, but instead is charging less for cash sales. It may sound like the same thing, but there is a big difference. The increasing costs associated with accepting credit cards are leaving many merchants searching for ways to pass along at least a portion of processing expenses to their customers. Card originators such as VISA and MasterCard are becoming wary of this new trend and are enforcing strict regulations specifically designed to hinder any such efforts by merchants to impose surcharges on credit card purchases. Discount fees, transaction costs, and other expenses associated with the acceptance of electronic bank cards (credit and debit cards) are putting a strangle hold on to the NET profits of businesses of all sizes. To help minimize the impact that processing costs are having on profits, many businesses are charging a surcharge to customers that choose to pay for products or services using a credit or debit card. Card originators such as VISA, MasterCard, American Express, and Discover have a lot to lose if the practice of imposing surcharges on credit card transactions becomes popular among merchants. When merchants impose surcharges on credit transactions, they make purchasing on credit a less appealing option to consumers, and many consumers choose to avoid the additional cost by simply paying with cash or a check. A decrease in the use of credit cards by consumers translates directly into lost revenue for processing banks. Not only do banks lose out on the processing fees that they would have collected from the merchant, but they lose any finance charges that would have been incurred by the customer as well. You may wonder why so many businesses still choose to place a surcharge on credit transactions, even though it is strictly forbidden in the processing agreement they had to sign when opening their merchant account. Quite frankly, many business people choose to ignore this clause in their processing agreement and impose a surcharge anyway. This approach is not recommended. When and if these businesses are discovered, their merchant accounts will be terminated, and they may even be placed on the Terminated Merchant File (TMF) which will make it nearly impossible for them to acquire another merchant account. Card originators and banks have control over credit card (bankcard) transactions, and they can legally ban a merchant from imposing surcharges. However, they do not have any legal control over other forms of payment such as cash and checks. The largest card originator (VISA) has even published information stating that, "You may, however, offer a discount for cash transactions, provided that the offer is clearly disclosed to customers and the cash piece is presented as a discount from the standard price charged for all other forms of payment".1 Most merchant accounts operate on a tiered discount pricing grid and, ironically, the secret to beating credit card processing fees is to impose tiered pricing on your products and services as well. The old saying, "if you can’t beat em’, join em’" applies perfectly. While you can’t charge extra for credit card sales, you can charge less for cash as long as all prices are clearly stated to customers, and the cash price is reflected as a discount from the original purchase price. For example: if the price tag on an item states that the item costs $10, the cash price must be represented as a discount from that price. The price tag for this particular item should look something like this: Price: $10.00 5% discount for cash payment @ $9.50 5% Discount for Check Payment @ $9.50 By utilizing a tiered pricing grid, merchants can alleviate the cost of accepting credit cards, while still providing their customers with the freedom to choose their preferred method of payment. 1. Published by VISA in the Card Acceptance and Chargeback Management Guide for VISA Merchants, ©2004 About the author:Jack Lang is the senior contributor member at http://www.merchantcouncil.org.The Merchant Council is a free resource dedicated to assisting businesses obtain and manage credit card processing and merchant account services. A wealth of merchant account information can be found at MerchantCouncil.org
by: Jack Lang
Imposing surcharges on credit card transactions is illegal, and it will only lead to problems. The secret to beating the credit card processing system is not charging more for credit card sales, but instead is charging less for cash sales. It may sound like the same thing, but there is a big difference. The increasing costs associated with accepting credit cards are leaving many merchants searching for ways to pass along at least a portion of processing expenses to their customers. Card originators such as VISA and MasterCard are becoming wary of this new trend and are enforcing strict regulations specifically designed to hinder any such efforts by merchants to impose surcharges on credit card purchases. Discount fees, transaction costs, and other expenses associated with the acceptance of electronic bank cards (credit and debit cards) are putting a strangle hold on to the NET profits of businesses of all sizes. To help minimize the impact that processing costs are having on profits, many businesses are charging a surcharge to customers that choose to pay for products or services using a credit or debit card. Card originators such as VISA, MasterCard, American Express, and Discover have a lot to lose if the practice of imposing surcharges on credit card transactions becomes popular among merchants. When merchants impose surcharges on credit transactions, they make purchasing on credit a less appealing option to consumers, and many consumers choose to avoid the additional cost by simply paying with cash or a check. A decrease in the use of credit cards by consumers translates directly into lost revenue for processing banks. Not only do banks lose out on the processing fees that they would have collected from the merchant, but they lose any finance charges that would have been incurred by the customer as well. You may wonder why so many businesses still choose to place a surcharge on credit transactions, even though it is strictly forbidden in the processing agreement they had to sign when opening their merchant account. Quite frankly, many business people choose to ignore this clause in their processing agreement and impose a surcharge anyway. This approach is not recommended. When and if these businesses are discovered, their merchant accounts will be terminated, and they may even be placed on the Terminated Merchant File (TMF) which will make it nearly impossible for them to acquire another merchant account. Card originators and banks have control over credit card (bankcard) transactions, and they can legally ban a merchant from imposing surcharges. However, they do not have any legal control over other forms of payment such as cash and checks. The largest card originator (VISA) has even published information stating that, "You may, however, offer a discount for cash transactions, provided that the offer is clearly disclosed to customers and the cash piece is presented as a discount from the standard price charged for all other forms of payment".1 Most merchant accounts operate on a tiered discount pricing grid and, ironically, the secret to beating credit card processing fees is to impose tiered pricing on your products and services as well. The old saying, "if you can’t beat em’, join em’" applies perfectly. While you can’t charge extra for credit card sales, you can charge less for cash as long as all prices are clearly stated to customers, and the cash price is reflected as a discount from the original purchase price. For example: if the price tag on an item states that the item costs $10, the cash price must be represented as a discount from that price. The price tag for this particular item should look something like this: Price: $10.00 5% discount for cash payment @ $9.50 5% Discount for Check Payment @ $9.50 By utilizing a tiered pricing grid, merchants can alleviate the cost of accepting credit cards, while still providing their customers with the freedom to choose their preferred method of payment. 1. Published by VISA in the Card Acceptance and Chargeback Management Guide for VISA Merchants, ©2004 About the author:Jack Lang is the senior contributor member at http://www.merchantcouncil.org.The Merchant Council is a free resource dedicated to assisting businesses obtain and manage credit card processing and merchant account services. A wealth of merchant account information can be found at MerchantCouncil.org
011
Credit Card Processing
by: Shane Penrod
Does your company need credit card processing? It does if you can benefit from the following: Credit Card Processing Enhances Your Professional Status. When customers know that you accept credit payments, they often are more likely to pay more, return often, and tell their friends if the service is good. This is because a company that makes credit payment options available to clients is telling the world that they care about customers and they are professional enough to invest in systems that will enhance the shopping experience for guests. No one likes that disappointed feeling when, after browsing, you find something you want to buy but then fail to find enough cash in your wallet to purchase it. Writing a check may put you over the balance, and you don’t want to take time to run to the ATM machine to withdraw the money from savings. When customers can pay with a plastic card, they may show their appreciation by returning again and again to shop your store. Credit Card Processing is Inexpensive. It depends on your current business budget, of course, but you don’t have to sink a lot of money into credit card processing equipment. All you need do is get a merchant account services account, buy or lease a credit card processing unit, and you are good to go. Plug it in or take a wireless unit with you on the road to make credit payments easy, fast, and secure. Plan on paying a per-transaction fee of perhaps 25 cents or a low interest monthly rate that may include minimums. Associated expenses may include discount fees, gateway fees, print statement fees, and membership costs. There may be others as well. Overall, however, the benefits of a merchant account outweigh its costs. Credit Card Processing is Flexible. You don’t have to be stuck behind the cash register all day to appreciate the advantages of a merchant account’s ability to provide credit card processing. You can take a wireless unit from one destination to another to let clients pay at the point of purchase rather than wait for billing. You may want to invest in a pager that will let you provide instant deliveries or prompt responses to customer inquiries, some of which could lead to direct or indirect sales with the option of credit card payments. You can also set up an online Website to accept credit card payments from potentially billions of customers around the world. It’s all up to you, of course, as to what you’re ready to do in terms of growing your company’s sales. You won’t need extra staff to manage credit card processing, either. In fact, you may be able to operate some credit card processing systems automatically when you opt for the telephone payment system or the Website option. But you will need to have a staff member available at certain times for questions or troubleshooting issues. Don’t get left behind by competitors who already have merchant account services and customers who expect them. Start browsing now to learn more about Credit Card Processing. About the author:Shane Penrod is the founder of http://www.Merchant-Account-Quotes.comSpecializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
by: Shane Penrod
Does your company need credit card processing? It does if you can benefit from the following: Credit Card Processing Enhances Your Professional Status. When customers know that you accept credit payments, they often are more likely to pay more, return often, and tell their friends if the service is good. This is because a company that makes credit payment options available to clients is telling the world that they care about customers and they are professional enough to invest in systems that will enhance the shopping experience for guests. No one likes that disappointed feeling when, after browsing, you find something you want to buy but then fail to find enough cash in your wallet to purchase it. Writing a check may put you over the balance, and you don’t want to take time to run to the ATM machine to withdraw the money from savings. When customers can pay with a plastic card, they may show their appreciation by returning again and again to shop your store. Credit Card Processing is Inexpensive. It depends on your current business budget, of course, but you don’t have to sink a lot of money into credit card processing equipment. All you need do is get a merchant account services account, buy or lease a credit card processing unit, and you are good to go. Plug it in or take a wireless unit with you on the road to make credit payments easy, fast, and secure. Plan on paying a per-transaction fee of perhaps 25 cents or a low interest monthly rate that may include minimums. Associated expenses may include discount fees, gateway fees, print statement fees, and membership costs. There may be others as well. Overall, however, the benefits of a merchant account outweigh its costs. Credit Card Processing is Flexible. You don’t have to be stuck behind the cash register all day to appreciate the advantages of a merchant account’s ability to provide credit card processing. You can take a wireless unit from one destination to another to let clients pay at the point of purchase rather than wait for billing. You may want to invest in a pager that will let you provide instant deliveries or prompt responses to customer inquiries, some of which could lead to direct or indirect sales with the option of credit card payments. You can also set up an online Website to accept credit card payments from potentially billions of customers around the world. It’s all up to you, of course, as to what you’re ready to do in terms of growing your company’s sales. You won’t need extra staff to manage credit card processing, either. In fact, you may be able to operate some credit card processing systems automatically when you opt for the telephone payment system or the Website option. But you will need to have a staff member available at certain times for questions or troubleshooting issues. Don’t get left behind by competitors who already have merchant account services and customers who expect them. Start browsing now to learn more about Credit Card Processing. About the author:Shane Penrod is the founder of http://www.Merchant-Account-Quotes.comSpecializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
010
Credit Card Merchant Account Services
by: Shane Penrod
Did you know that could possibly multiply your sales receipts within a matter of weeks or months? Of course, other factors will play a role in the overall success of this strategy, but many company owners claim that the simple step of accepting credit card payments increased their income dramatically in a relatively short amount of time. That is why you need to know more about the benefits of credit card merchant services. Basically, the premise of using credit card merchant account services works like this. You find a trusted lender with experience in merchant accounts. You might even want to check with customers at some of the lending institutions to see if they are satisfied with their merchant account services. You also can find online testimonials, although these may be biased when situated at the Websites of various lenders. You could visit chat rooms devoted to topics like this one that are sure to be discussed among entrepreneurs or start-up business owners. After getting objective feedback on several possible lenders, you can choose the one that seems like the best bet for your company. It is a simple process to apply for credit card merchant account services. After reducing your possible underwriters to three or four after searching the Internet or checking with colleagues, it then becomes a matter of comparing and contrasting benefits with fees. Some companies are so well known that they can afford to charge more for their merchant account services. Others have recently added this option, so they might reduce, avoid, or omit certain fees in order to get your business. However, you may have to pay these fees after the first year or another type of trial period. Read all the terms carefully so that you understand how the account works, how much it costs, and what the potential glitches might be. Contact the lender with any questions or uncertainties before applying for an account. Then, when approved, you should feel confident that you have made a good investment. Obtaining credit card merchant account services will let you accept credit card payments from your customers in a variety of ways. If you own or operate a store, for example, they can pay onsite with a credit card processor that you can plug into a wall outlet. But if you deliver goods or services to homes or businesses, you may want to take along a wireless credit card processor. Depending on how your customers like to pay and the level of involvement you want to pursue, you can add a pager and an e-check or debit processor right away or later on, depending on equipment cost and your need. Being approved for a merchant services account will help you expand the way you do business. Many consumers prefer to pay by credit card, so accepting payments via this method will attract that segment of buyers and increase your volume of sales. Soon your profit margins should increase as well. Start thinking now about adding credit card merchant account services to your business. About the author:Shane Penrod is the founder of http://www.Merchant-Account-Quotes.comSpecializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
by: Shane Penrod
Did you know that could possibly multiply your sales receipts within a matter of weeks or months? Of course, other factors will play a role in the overall success of this strategy, but many company owners claim that the simple step of accepting credit card payments increased their income dramatically in a relatively short amount of time. That is why you need to know more about the benefits of credit card merchant services. Basically, the premise of using credit card merchant account services works like this. You find a trusted lender with experience in merchant accounts. You might even want to check with customers at some of the lending institutions to see if they are satisfied with their merchant account services. You also can find online testimonials, although these may be biased when situated at the Websites of various lenders. You could visit chat rooms devoted to topics like this one that are sure to be discussed among entrepreneurs or start-up business owners. After getting objective feedback on several possible lenders, you can choose the one that seems like the best bet for your company. It is a simple process to apply for credit card merchant account services. After reducing your possible underwriters to three or four after searching the Internet or checking with colleagues, it then becomes a matter of comparing and contrasting benefits with fees. Some companies are so well known that they can afford to charge more for their merchant account services. Others have recently added this option, so they might reduce, avoid, or omit certain fees in order to get your business. However, you may have to pay these fees after the first year or another type of trial period. Read all the terms carefully so that you understand how the account works, how much it costs, and what the potential glitches might be. Contact the lender with any questions or uncertainties before applying for an account. Then, when approved, you should feel confident that you have made a good investment. Obtaining credit card merchant account services will let you accept credit card payments from your customers in a variety of ways. If you own or operate a store, for example, they can pay onsite with a credit card processor that you can plug into a wall outlet. But if you deliver goods or services to homes or businesses, you may want to take along a wireless credit card processor. Depending on how your customers like to pay and the level of involvement you want to pursue, you can add a pager and an e-check or debit processor right away or later on, depending on equipment cost and your need. Being approved for a merchant services account will help you expand the way you do business. Many consumers prefer to pay by credit card, so accepting payments via this method will attract that segment of buyers and increase your volume of sales. Soon your profit margins should increase as well. Start thinking now about adding credit card merchant account services to your business. About the author:Shane Penrod is the founder of http://www.Merchant-Account-Quotes.comSpecializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
009
Contactless Payments: Where's Debit and who will benefit
by: Jeremy Drzal
The electronic payments industry has seen rapid change in the last 24 months from the standpoint of payment mix (decreased checks and cash, with increased debit and almost flat credit purchases) to the advancement of new form factors such as EMV smart cards in Asia, Europe and parts of South America, to new contactless technologies such as PayPass (MasterCard), Wave (Visa), ExpressPay (Amex) and QuicPay (JCB). The consumer base of accountholders has quickly responded to the new RFID form factor because of its simplicity, speed, and convenience. Retailers have also responded well considering the increase in sales, faster transactions and in many cases, higher spend versus its cash equivalent. It also provides less wear and tear on hardware with fewer moving parts to further decrease maintenance and replacement parts. With the rapid adoption and move to put cards out into the market, several large credit card issuers have announced programs including Chase, Citi, MBNA. Larger retail chains have also got behind to support the programs as well including 7-Eleven, McDonalds, Meijer’s, Ritz Camera, and Regal Cinema to name just a few. The most recent announcement has been the long ignored debit program from KeyBank, the first contactless program announced. Citibank followed shortly after. Both are MasterCard. From an issuer’s perspective, they can introduce the contactless payments through either credit or debit programs. Although most have been credit programs as mentioned above. However, the nature of the program is for low-value payments under $25. This is the target market debit programs mostly serve. The largest missed opportunities are in debit programs. One of the largest untapped markets lays within the large and national debit programs for two primary reasons. Firstly, the nature of the contactless programs are to displace cash at the low-value payment level. Debit is the most logical and consumer oriented programs to address this demand. Secondly, debit card issuers have been mostly absent from previous card technology programs such as EMV. EMV and smart card programs/pilots have been mostly evaluated by credit card issuers. These credit card issuers have learned the lessons of chip and new technologies and they are in a strong position to capitalize on the contactless programs through the technology teams from past smart card programs. Since they may lack both the internal resources and the product (contactless feature) for low-value payments, they will likely lose significant competitive advantages by not being first-market movers. Will debit card issuers have the level of expertise to evaluate and build the requirements or programs needed to deploy contactless card programs? Consider the following: - McDonalds will now accept PayPass at their stores and other small value retailers (under 25$) are aggressively upgrading their POS systems to accept PayPass transactions. - The pilot for PayPass was conducted by MBNA at the Seattle Seahawks stadium (on credit cards). August 22 pre-season Monday night football game had all 400 terminals within the Seahawks stadium using PayPass. - The Washington Redskins FedEx stadium will be accepting PayPass. - The nature of tap-n-go is to not take the card out of the wallet, just “tap” the wallet. This means the consumer will likely only have ONE contactless card in their wallet as the primary card of choice making first market advantage critical. - Tap-n-go is typically for low-value payments below $25. This coincides with debit purchases as well and the direction the associations are moving in changing the chargeback and dispute rules - As a longer-term strategy, RFID allows issuers to partner with non-traditional players for value added services including key FOBS, stadiums, ticketing, campus, transit, etc. As part of this overall direction, the card associations are seeking partnerships with banks and large municipalities to offer community based services (parking, transport etc) that represents an increase in spend for all parties. - MasterCard has announced a Transit Ticketing application under development to integrate or displace individually issued transit tickets with an Association based card. - Asia as well as other markets are quickly changing direction or re-evaluating traditional EMV contact smart card programs to leverage contactless EMV protocol in either a fully contactless card or a combination contact/contactless card. - Near Field Communications is enabling mobilcom operators and device providers to become an integral part of “wallet” consolidation by converging payment devices with a handset. It’s certainly a time filled with a lot of changes, please stay posted. About the author:Jeremy Drzal has over fifteen years experience in market strategy, product development/management, sales and business development in the technology, payments and risk management area. You can read more about the payments industry at www.allpaynews.comor visit www.keypoint24x7.comto inquire how he can help with your project
by: Jeremy Drzal
The electronic payments industry has seen rapid change in the last 24 months from the standpoint of payment mix (decreased checks and cash, with increased debit and almost flat credit purchases) to the advancement of new form factors such as EMV smart cards in Asia, Europe and parts of South America, to new contactless technologies such as PayPass (MasterCard), Wave (Visa), ExpressPay (Amex) and QuicPay (JCB). The consumer base of accountholders has quickly responded to the new RFID form factor because of its simplicity, speed, and convenience. Retailers have also responded well considering the increase in sales, faster transactions and in many cases, higher spend versus its cash equivalent. It also provides less wear and tear on hardware with fewer moving parts to further decrease maintenance and replacement parts. With the rapid adoption and move to put cards out into the market, several large credit card issuers have announced programs including Chase, Citi, MBNA. Larger retail chains have also got behind to support the programs as well including 7-Eleven, McDonalds, Meijer’s, Ritz Camera, and Regal Cinema to name just a few. The most recent announcement has been the long ignored debit program from KeyBank, the first contactless program announced. Citibank followed shortly after. Both are MasterCard. From an issuer’s perspective, they can introduce the contactless payments through either credit or debit programs. Although most have been credit programs as mentioned above. However, the nature of the program is for low-value payments under $25. This is the target market debit programs mostly serve. The largest missed opportunities are in debit programs. One of the largest untapped markets lays within the large and national debit programs for two primary reasons. Firstly, the nature of the contactless programs are to displace cash at the low-value payment level. Debit is the most logical and consumer oriented programs to address this demand. Secondly, debit card issuers have been mostly absent from previous card technology programs such as EMV. EMV and smart card programs/pilots have been mostly evaluated by credit card issuers. These credit card issuers have learned the lessons of chip and new technologies and they are in a strong position to capitalize on the contactless programs through the technology teams from past smart card programs. Since they may lack both the internal resources and the product (contactless feature) for low-value payments, they will likely lose significant competitive advantages by not being first-market movers. Will debit card issuers have the level of expertise to evaluate and build the requirements or programs needed to deploy contactless card programs? Consider the following: - McDonalds will now accept PayPass at their stores and other small value retailers (under 25$) are aggressively upgrading their POS systems to accept PayPass transactions. - The pilot for PayPass was conducted by MBNA at the Seattle Seahawks stadium (on credit cards). August 22 pre-season Monday night football game had all 400 terminals within the Seahawks stadium using PayPass. - The Washington Redskins FedEx stadium will be accepting PayPass. - The nature of tap-n-go is to not take the card out of the wallet, just “tap” the wallet. This means the consumer will likely only have ONE contactless card in their wallet as the primary card of choice making first market advantage critical. - Tap-n-go is typically for low-value payments below $25. This coincides with debit purchases as well and the direction the associations are moving in changing the chargeback and dispute rules - As a longer-term strategy, RFID allows issuers to partner with non-traditional players for value added services including key FOBS, stadiums, ticketing, campus, transit, etc. As part of this overall direction, the card associations are seeking partnerships with banks and large municipalities to offer community based services (parking, transport etc) that represents an increase in spend for all parties. - MasterCard has announced a Transit Ticketing application under development to integrate or displace individually issued transit tickets with an Association based card. - Asia as well as other markets are quickly changing direction or re-evaluating traditional EMV contact smart card programs to leverage contactless EMV protocol in either a fully contactless card or a combination contact/contactless card. - Near Field Communications is enabling mobilcom operators and device providers to become an integral part of “wallet” consolidation by converging payment devices with a handset. It’s certainly a time filled with a lot of changes, please stay posted. About the author:Jeremy Drzal has over fifteen years experience in market strategy, product development/management, sales and business development in the technology, payments and risk management area. You can read more about the payments industry at www.allpaynews.comor visit www.keypoint24x7.comto inquire how he can help with your project
008
Consumer AdviceWhat is identity theft?
by: NC
What is identity theft?
(NC)—Identity theft occurs when someone uses your personal information without your knowledge or consent to commit a crime, such as fraud or theft. Once they steal the information and manipulate it, identity thieves can invade your personal and financial life. They can use stolen identities to conduct spending sprees, open new bank accounts, divert mail, apply for loans, credit cards, and social benefits, rent apartments and even commit more serious crimes which, once arrested, they pin on their new identity.
ID thieves get your personal information by: • Stealing personal and private information from wallets, purses, mail, your home, vehicle, computer, and Web sites you've visited or e-mails you've sent. • Retrieving personal information in your garbage or recycling bin by "dumpster diving". • Posing as a creditor, landlord or employer to get a copy of your credit report. • Tampering with ATM and terminals at stores, which enables thieves to read your debit or credit card number and PIN. • Buying the information from a dishonest employee working where personal and/or financial information is stored. • Removing mail from your mailbox. • Searching public sources, such as newspapers (obituaries), phone books, and records open to the public (professional certifications). For more information on how to protect yourself from ID theft, and other common consumer scams, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources. - News Canada About the author:News Canada
by: NC
What is identity theft?
(NC)—Identity theft occurs when someone uses your personal information without your knowledge or consent to commit a crime, such as fraud or theft. Once they steal the information and manipulate it, identity thieves can invade your personal and financial life. They can use stolen identities to conduct spending sprees, open new bank accounts, divert mail, apply for loans, credit cards, and social benefits, rent apartments and even commit more serious crimes which, once arrested, they pin on their new identity.
ID thieves get your personal information by: • Stealing personal and private information from wallets, purses, mail, your home, vehicle, computer, and Web sites you've visited or e-mails you've sent. • Retrieving personal information in your garbage or recycling bin by "dumpster diving". • Posing as a creditor, landlord or employer to get a copy of your credit report. • Tampering with ATM and terminals at stores, which enables thieves to read your debit or credit card number and PIN. • Buying the information from a dishonest employee working where personal and/or financial information is stored. • Removing mail from your mailbox. • Searching public sources, such as newspapers (obituaries), phone books, and records open to the public (professional certifications). For more information on how to protect yourself from ID theft, and other common consumer scams, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources. - News Canada About the author:News Canada
007
Consumer Advice: Unwanted credit cards
by: NC
Unwanted credit cards
(NC)—If you receive a credit card in the mail that you didn't order, here, according to information on Industry Canada's Consumer Information Gateway website, is what you should do: Consumers are not liable for a credit card they did not request. However, you should destroy any unsolicited credit cards immediately. Using the credit card constitutes acceptance of the card. If you use the card, you will have to pay the bill. Similarly, do not cash small cheques that are sent to you without reading the small print. Doing so often locks you into paying for products or services you may not wish to buy. For more information on unwanted credit cards, and other questionable marketing practices, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources. - News Canada About the author:News Canada
by: NC
Unwanted credit cards
(NC)—If you receive a credit card in the mail that you didn't order, here, according to information on Industry Canada's Consumer Information Gateway website, is what you should do: Consumers are not liable for a credit card they did not request. However, you should destroy any unsolicited credit cards immediately. Using the credit card constitutes acceptance of the card. If you use the card, you will have to pay the bill. Similarly, do not cash small cheques that are sent to you without reading the small print. Doing so often locks you into paying for products or services you may not wish to buy. For more information on unwanted credit cards, and other questionable marketing practices, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources. - News Canada About the author:News Canada
006
Chase Credit companies can help you with almost anything you need financially
by: Jakob Jelling
Chase Credit is an important company if you're thinking about starting any sort of a credit reporting company. The reason for this is that this company offers all the technology that you need at a price that your business should be able to afford. Not only that, but the company does not require for you to purchase any special software or hardware - you can use their technology with the computer and software that you already have. Therefore, if you're going to start a credit reporting agency, you should get in touch with Chase Credit right away. This technology is so easy to use that once you've learned it, you won't need to learn anything else. Not only that, but the usage plans are very flexible. Either your company can maintain the system pieces that you intend on using - or you can let Chase Credit do all of the work for you so that you only have to worry about dealing with your clients. Finally, this plan is set up so that you can change the way information is processed to lower the amount of time it takes for you to process credit reports. If you're not looking into starting your own credit reporting agency, there is a different Chase company that you should look into. This company offers Chase credit that might be right for you or your small business. These credit cards are easy to apply for. Not only that, but the website even offers you tools to find out which credit card will be right for you. Don't apply for a card that you won't be able to use. Instead, compare the credit cards that are offered by Chase to find the one that will work for you. If you're not necessarily looking for Chase credit cards either, don't worry. The Chase company also offers several other services that you may need. For instance, if you're looking to get a mortgage or student loan, then Chase probably has what you're looking for. You can even go to Chase if you need help with your retirement planning - and you definitely don't want to be without proper planning in that area of your life! About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
by: Jakob Jelling
Chase Credit is an important company if you're thinking about starting any sort of a credit reporting company. The reason for this is that this company offers all the technology that you need at a price that your business should be able to afford. Not only that, but the company does not require for you to purchase any special software or hardware - you can use their technology with the computer and software that you already have. Therefore, if you're going to start a credit reporting agency, you should get in touch with Chase Credit right away. This technology is so easy to use that once you've learned it, you won't need to learn anything else. Not only that, but the usage plans are very flexible. Either your company can maintain the system pieces that you intend on using - or you can let Chase Credit do all of the work for you so that you only have to worry about dealing with your clients. Finally, this plan is set up so that you can change the way information is processed to lower the amount of time it takes for you to process credit reports. If you're not looking into starting your own credit reporting agency, there is a different Chase company that you should look into. This company offers Chase credit that might be right for you or your small business. These credit cards are easy to apply for. Not only that, but the website even offers you tools to find out which credit card will be right for you. Don't apply for a card that you won't be able to use. Instead, compare the credit cards that are offered by Chase to find the one that will work for you. If you're not necessarily looking for Chase credit cards either, don't worry. The Chase company also offers several other services that you may need. For instance, if you're looking to get a mortgage or student loan, then Chase probably has what you're looking for. You can even go to Chase if you need help with your retirement planning - and you definitely don't want to be without proper planning in that area of your life! About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
005
Business Plan Basics
by: Dick Pennington
You're excited. You have a great idea for a profitable online business. Maybe it is an original idea that has not been marketed online before. Maybe you have come up with a new spin on the ordinary. Whatever it is that has influenced you to start your online business, be sure that you have a plan before you begin. This is not the time to "pick it up as you go". These are some basic things that should be included in your business plan. The business summary should give a brief description of the entire business and is an integral part of the overall business plan. After you have completed the business summary you should begin to list the objectives or the goals that you want to accomplish through the business. Next and perhaps most importantly, you should develop your marketing plan. The marketing plan will address all the specifics of the business. When developing the marketing strategy you should consider the following: The target market. The target market is the customers that you expect to see visiting your site. For example will your product be more appealing to college students or those who are in retirement? Consider the competition for your product when determining the marketing strategy. Choose a product that will be seen as unique and useful. Visit sites that are offering the same or similar products. Find out the cost, and how they are marketing their product. Finds out the pros and cons of their business and try to improve your product based on their flaws. Research the various methods for advertising online. You should become educated about search engines and how they work since each one is different. Also be sure that you know how to submit your site to search engines. You should be prepared to spend a small amount of money on advertising, but the profits that you will gain from the advertisements will prove to be money well spent. Think about pricing. Again, look at the competition and see what similar products are selling for. Pricing can play a big role in the success of your product since selling a product well below the average price may lead customer to think that there is a problem with the product or that it is not of the best quality. However, pricing items too high could also detour customers. Determine the shipping method. Be sure that you know how products will be shipped so that you can have shipping details clearly posted on your site. If you are shipping things of great value, you should consider providing shipping insurance. Also think about shipping outside the country that you live in. Think about the different methods of payment that you will accept. If your business does not accept credit cards, you should be ready to give up half if not more of your sales. If you decide to accept credit cards will you use a merchant account or will you use a third party credit card processing center? Both will help you get started and the third party processing center will handle all of the business so you don''t have to. You should decide which you will use and also if you will accept checks or money orders. It is essential to have a secure server when taking credit cards. These few things will help your online business to become a great success and also provide you with peace of mind knowing that you have thoroughly thought about and planned for the opening of your online business. About the author:Dick Pennington can help YOU start your own profitable business on the Internet within the next 24 hours... To learn more, visit: http://www.LearnToWinBig.com/pips.html
by: Dick Pennington
You're excited. You have a great idea for a profitable online business. Maybe it is an original idea that has not been marketed online before. Maybe you have come up with a new spin on the ordinary. Whatever it is that has influenced you to start your online business, be sure that you have a plan before you begin. This is not the time to "pick it up as you go". These are some basic things that should be included in your business plan. The business summary should give a brief description of the entire business and is an integral part of the overall business plan. After you have completed the business summary you should begin to list the objectives or the goals that you want to accomplish through the business. Next and perhaps most importantly, you should develop your marketing plan. The marketing plan will address all the specifics of the business. When developing the marketing strategy you should consider the following: The target market. The target market is the customers that you expect to see visiting your site. For example will your product be more appealing to college students or those who are in retirement? Consider the competition for your product when determining the marketing strategy. Choose a product that will be seen as unique and useful. Visit sites that are offering the same or similar products. Find out the cost, and how they are marketing their product. Finds out the pros and cons of their business and try to improve your product based on their flaws. Research the various methods for advertising online. You should become educated about search engines and how they work since each one is different. Also be sure that you know how to submit your site to search engines. You should be prepared to spend a small amount of money on advertising, but the profits that you will gain from the advertisements will prove to be money well spent. Think about pricing. Again, look at the competition and see what similar products are selling for. Pricing can play a big role in the success of your product since selling a product well below the average price may lead customer to think that there is a problem with the product or that it is not of the best quality. However, pricing items too high could also detour customers. Determine the shipping method. Be sure that you know how products will be shipped so that you can have shipping details clearly posted on your site. If you are shipping things of great value, you should consider providing shipping insurance. Also think about shipping outside the country that you live in. Think about the different methods of payment that you will accept. If your business does not accept credit cards, you should be ready to give up half if not more of your sales. If you decide to accept credit cards will you use a merchant account or will you use a third party credit card processing center? Both will help you get started and the third party processing center will handle all of the business so you don''t have to. You should decide which you will use and also if you will accept checks or money orders. It is essential to have a secure server when taking credit cards. These few things will help your online business to become a great success and also provide you with peace of mind knowing that you have thoroughly thought about and planned for the opening of your online business. About the author:Dick Pennington can help YOU start your own profitable business on the Internet within the next 24 hours... To learn more, visit: http://www.LearnToWinBig.com/pips.html
004
Boosting your business with a merchant account
by: Jakob Jelling
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people decide to use a credit card and spend more when doing so, it only makes sense to be able to accept credit card payments. The first step to being able to accept credit card payments is getting a merchant account. A merchant account is a special type of bank account that is able to receive payments from credit card purchases. Along with your account you will also need a hardware or software solution to actually process the payments, but this doesn't have to be supplied by the company providing your merchant account. For online credit card processing there is one extra step, you also need a payment gateway. A payment gateway is a company that provides real time authorization of online transactions. When looking at gateways make sure that they are compatible with your site's software and your financial institution. You may wish to research your gateway and financial institution options before signing up for any services. When researching your merchant account providers you may be surprised at the number of options available to you. While there are a lot of options, selecting the best provider for you is easy to do by knowing a little about what each company offers and how much they charge for their services. The first step should always be to seek a mentor. Do you know someone who currently is conducting a similar business? If so ask them who provides their merchant account and what their thoughts are on that provider as well as others that they may have tried. After asking around search the Internet for people's opinions on merchant accounts. While opinions are not a good reason to base a decision, their accounting of the service they received and the ease of company to work with are valuable information to know. After determining which companies will be the easiest to work with you can begin to narrow down your options by examining the services offered and history. A good merchant account provider should have extensive experience working with growing businesses. This experience will allow your merchant account provider to be able to set up your account faster, will ensure that they can expand their services as your company grows and requires more options and most importantly, has the experience required to actively combat fraud and charge backs. Of course nothing is free, and your merchant account is no exception. The amount that you must pay will vary from company to company but the basics of your bill should be the same. If the company you are considering is charging more you may wish to seek another merchant account provider. The biggest single cost is the set up costs. Your set up costs include your application fees, equipment costs and deposits. These fees tend to average about $275 but vary depending upon the options you have selected. For example, your start up costs will be much higher if you have decided to purchase your credit card processing equipment instead of leasing it. This may be an economically viable solution after adding up the amount of the deposit that will be required if you lease the equipment and the leasing fees for a year. Another thing to keep in mind is the amount that your merchant account provider will be charging for each completed transaction. On average you will be charged 2.5% of the sale and there may be a few more annual fees. Be sure to very closely examine that amount you will be paying and what additional fees you may have to pay as each company will be different and the difference may save you a lot of money each year. Starting and having a business grow is a very exciting time for any business owner. As you expand into new markets, such as online sales, you will find a plethora of new options and opportunities. After deciding to expand be sure to carefully consider your options in order to make your next step as smooth and cost effective as possible. About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
by: Jakob Jelling
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people decide to use a credit card and spend more when doing so, it only makes sense to be able to accept credit card payments. The first step to being able to accept credit card payments is getting a merchant account. A merchant account is a special type of bank account that is able to receive payments from credit card purchases. Along with your account you will also need a hardware or software solution to actually process the payments, but this doesn't have to be supplied by the company providing your merchant account. For online credit card processing there is one extra step, you also need a payment gateway. A payment gateway is a company that provides real time authorization of online transactions. When looking at gateways make sure that they are compatible with your site's software and your financial institution. You may wish to research your gateway and financial institution options before signing up for any services. When researching your merchant account providers you may be surprised at the number of options available to you. While there are a lot of options, selecting the best provider for you is easy to do by knowing a little about what each company offers and how much they charge for their services. The first step should always be to seek a mentor. Do you know someone who currently is conducting a similar business? If so ask them who provides their merchant account and what their thoughts are on that provider as well as others that they may have tried. After asking around search the Internet for people's opinions on merchant accounts. While opinions are not a good reason to base a decision, their accounting of the service they received and the ease of company to work with are valuable information to know. After determining which companies will be the easiest to work with you can begin to narrow down your options by examining the services offered and history. A good merchant account provider should have extensive experience working with growing businesses. This experience will allow your merchant account provider to be able to set up your account faster, will ensure that they can expand their services as your company grows and requires more options and most importantly, has the experience required to actively combat fraud and charge backs. Of course nothing is free, and your merchant account is no exception. The amount that you must pay will vary from company to company but the basics of your bill should be the same. If the company you are considering is charging more you may wish to seek another merchant account provider. The biggest single cost is the set up costs. Your set up costs include your application fees, equipment costs and deposits. These fees tend to average about $275 but vary depending upon the options you have selected. For example, your start up costs will be much higher if you have decided to purchase your credit card processing equipment instead of leasing it. This may be an economically viable solution after adding up the amount of the deposit that will be required if you lease the equipment and the leasing fees for a year. Another thing to keep in mind is the amount that your merchant account provider will be charging for each completed transaction. On average you will be charged 2.5% of the sale and there may be a few more annual fees. Be sure to very closely examine that amount you will be paying and what additional fees you may have to pay as each company will be different and the difference may save you a lot of money each year. Starting and having a business grow is a very exciting time for any business owner. As you expand into new markets, such as online sales, you will find a plethora of new options and opportunities. After deciding to expand be sure to carefully consider your options in order to make your next step as smooth and cost effective as possible. About the author:Jakob Jelling is the founder of http://www.cashbazar.comVisit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
003
Best Credit Card Processing Rates
by: Shane Penrod
Everyone goes into business to make money, so why spend more of your profits on expensive transaction fees, Website maintenance, service agreements and high credit card processing rates? When you take time to shop for the best deals, you can save quite a bit of money that can be used to good purpose in other parts of your business. Start shopping for the best credit card processing rates and open a merchant account. You will first need to find a reputable bank or credit union that will agree to extend a merchant account to you for this purpose. To get approved, you will need a solid credit history, a reasonable business plan, and documentation to show that you are able to manage the costs associated with credit card processing rates. Typically, these include an installation fee for credit card processing equipment, a monthly gateway fee for your financial host, a transaction fee of a few cents per each or an overall percentage total each month. You also may be offered Website service that will entail a hosting fee, a service contract cost, and a designer’s or updating service fee. Be sure to carefully read the terms of any contract that you receive. Never sign something that you don’t understand or with which you cannot completely agree. Your company may have to pay for a monthly minimum up to a certain number of transactions, after which the balance for that month do not require additional fees. Credit card processing rates can vary by company or by processor program. Some companies charge no installation fee, while others require a one-time cost of a few hundred dollars, depending on the program’s complexity. You may have to pay between 15 and 25 cents per transaction, or you could opt to pay a monthly percentage for the entire amount of business generated by your credit card processing unit; this amount often falls below 2%. It is always a good idea to compare rates among competing financial institutions. If you really like the services offered by one merchant account company but prefer the lower rates of a second company, tell the first one about the competitor’s lower rates, and perhaps the first company will meet or beat the lower cost in order to get your business. At first, you may want to keep the customer’s interests in mind when shopping for credit card processing rates. In other words, passing on the savings of a particular program to your customers will keep them coming back to do business with you. If your rates are too high or not competitive enough, they may decide to take their business elsewhere. As you plan to set up your new credit card processing service rates, it may help to let them know in advance that this program is coming so they can prepare and perhaps even help to get the word out to other potential customers. Then, after installing your new credit card processor, you should not hear complaints that anyone was blindsided or treated unfairly. If someone does complain, politely remind them of the earlier notices. When you are ready to start processing credit card payments, don’t be tempted to go for the option with the most features or the most sophisticated set-up. Opt for a system that will best suit your company needs and your customers’ interests, as well as offering the best credit card processing rates. About the author:Shane Penrod is the founder of Merchant-Acount-Quotes.com Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
by: Shane Penrod
Everyone goes into business to make money, so why spend more of your profits on expensive transaction fees, Website maintenance, service agreements and high credit card processing rates? When you take time to shop for the best deals, you can save quite a bit of money that can be used to good purpose in other parts of your business. Start shopping for the best credit card processing rates and open a merchant account. You will first need to find a reputable bank or credit union that will agree to extend a merchant account to you for this purpose. To get approved, you will need a solid credit history, a reasonable business plan, and documentation to show that you are able to manage the costs associated with credit card processing rates. Typically, these include an installation fee for credit card processing equipment, a monthly gateway fee for your financial host, a transaction fee of a few cents per each or an overall percentage total each month. You also may be offered Website service that will entail a hosting fee, a service contract cost, and a designer’s or updating service fee. Be sure to carefully read the terms of any contract that you receive. Never sign something that you don’t understand or with which you cannot completely agree. Your company may have to pay for a monthly minimum up to a certain number of transactions, after which the balance for that month do not require additional fees. Credit card processing rates can vary by company or by processor program. Some companies charge no installation fee, while others require a one-time cost of a few hundred dollars, depending on the program’s complexity. You may have to pay between 15 and 25 cents per transaction, or you could opt to pay a monthly percentage for the entire amount of business generated by your credit card processing unit; this amount often falls below 2%. It is always a good idea to compare rates among competing financial institutions. If you really like the services offered by one merchant account company but prefer the lower rates of a second company, tell the first one about the competitor’s lower rates, and perhaps the first company will meet or beat the lower cost in order to get your business. At first, you may want to keep the customer’s interests in mind when shopping for credit card processing rates. In other words, passing on the savings of a particular program to your customers will keep them coming back to do business with you. If your rates are too high or not competitive enough, they may decide to take their business elsewhere. As you plan to set up your new credit card processing service rates, it may help to let them know in advance that this program is coming so they can prepare and perhaps even help to get the word out to other potential customers. Then, after installing your new credit card processor, you should not hear complaints that anyone was blindsided or treated unfairly. If someone does complain, politely remind them of the earlier notices. When you are ready to start processing credit card payments, don’t be tempted to go for the option with the most features or the most sophisticated set-up. Opt for a system that will best suit your company needs and your customers’ interests, as well as offering the best credit card processing rates. About the author:Shane Penrod is the founder of Merchant-Acount-Quotes.com Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
002
A Seller's Dash For Cash
by: David Riewe
Today, eBay is considered to be one of the most lucrative auction sites available in the Internet. However, selling on eBay is not that easy, and the very first thing a seller should do is to find the ways on how he or she will get paid once the item is sold. And so, here are the different ways how a seller can be paid: 1. PayPal PayPal is the most common and convenient way of sending and receiving money based on an eBay transaction. Here, the payment for the sold item is sent directly to the seller by means of an established bank account or a credit card. 2. Personal Check or Cashier's Check Sellers may choose this kind of option. However, the drawback of using this kind of payment method is that the seller still has to wait for a number of banking days before the check gets cleared. 3. Credit Cards Sellers must have a merchant account to be able to accept payments from its buyers through credit cards. This is applicable only if the buyer will be paying directly to the seller. If the buyer still wants to use credit card but wants a safer transaction, he or she may opt to pay the seller through PayPal with the use of the credit card. 4. Bank to bank wire transfers In this type of payment, the seller can be paid through a bank-to-bank transaction. Here, the buyer will transfer funds from his or her bank account to the seller's bank account. 5. Money Orders/Bid pay This is one of the recommended payment methods of eBay. This is considered safe because the seller or the buyer can track down the mailing address of the concerned person. 6. Escrow This is strongly suggested for high-priced item transactions. The escrow service guarantees full protection while the transaction is not yet closed. Through this service, the seller has to wait for the confirmation that the buyer had received the product before receiving payment. However, sellers and buyers should take extra precautions on dealing with escrow services. There are a lot of counterfeit escrow services lurking on eBay these days. It's best to check if the escrow service was approved by eBay. 8. Cash Sellers on eBay may receive payments through cash. However, this is a high-risk activity and offers no guaranteed protection. 8. Instant Cash Wire Transfers like western Union and Money Grams Sellers may opt for this type of payment method. But, they should keep in mind eBay is strongly against this mode of payment and that insisting this to the buyer may result to suspension or termination of account. About the author:David Riewe is a Publisher and Online Marketer. Visit his eBay Blog to Discover 101 Ebay Auction Tips in this FREE ebook http://www.push-button-online-income.com/ebayblog
by: David Riewe
Today, eBay is considered to be one of the most lucrative auction sites available in the Internet. However, selling on eBay is not that easy, and the very first thing a seller should do is to find the ways on how he or she will get paid once the item is sold. And so, here are the different ways how a seller can be paid: 1. PayPal PayPal is the most common and convenient way of sending and receiving money based on an eBay transaction. Here, the payment for the sold item is sent directly to the seller by means of an established bank account or a credit card. 2. Personal Check or Cashier's Check Sellers may choose this kind of option. However, the drawback of using this kind of payment method is that the seller still has to wait for a number of banking days before the check gets cleared. 3. Credit Cards Sellers must have a merchant account to be able to accept payments from its buyers through credit cards. This is applicable only if the buyer will be paying directly to the seller. If the buyer still wants to use credit card but wants a safer transaction, he or she may opt to pay the seller through PayPal with the use of the credit card. 4. Bank to bank wire transfers In this type of payment, the seller can be paid through a bank-to-bank transaction. Here, the buyer will transfer funds from his or her bank account to the seller's bank account. 5. Money Orders/Bid pay This is one of the recommended payment methods of eBay. This is considered safe because the seller or the buyer can track down the mailing address of the concerned person. 6. Escrow This is strongly suggested for high-priced item transactions. The escrow service guarantees full protection while the transaction is not yet closed. Through this service, the seller has to wait for the confirmation that the buyer had received the product before receiving payment. However, sellers and buyers should take extra precautions on dealing with escrow services. There are a lot of counterfeit escrow services lurking on eBay these days. It's best to check if the escrow service was approved by eBay. 8. Cash Sellers on eBay may receive payments through cash. However, this is a high-risk activity and offers no guaranteed protection. 8. Instant Cash Wire Transfers like western Union and Money Grams Sellers may opt for this type of payment method. But, they should keep in mind eBay is strongly against this mode of payment and that insisting this to the buyer may result to suspension or termination of account. About the author:David Riewe is a Publisher and Online Marketer. Visit his eBay Blog to Discover 101 Ebay Auction Tips in this FREE ebook http://www.push-button-online-income.com/ebayblog
001
Accepting credit cards-Explained
by: chris dorning
"You have permission to publish this article electronically or in print, free of charge, as long as the by lines are included and all links remain active. A courtesy copy of your publication would be appreciated." Email notice of intent to publish is greatly appreciated but not Required: chris_dorning@yahoo.com Accepting credit cards-Explained Firstly let me point out that it is very difficult, to compete in a highly competitive market without being able to accept credit cards as payment from your customers. Most people who buy online use their credit cards to pay. To accept credit cards you need to be accredit merchant. There is a big misconception that becoming a “merchant†is a lengthy and expensive process that takes months to complete. This is not the case anymore, there are now many agencies on th enet who are more than happy to give you “merchant†status. What follows is step-by-step guide to finding and setting up your merchant account. Firstly, deciding which company you want to use. You obviously want an agency which is reputable, has been around for a few years at least, and one which offers monthly direct payment straight into your bank account. These, may sound like obvious requirements but believe it or not most credit agencies still pay their customers through cheques. Now I don’t know about you but if I have a really good month, I definitely do not want all my money being sent insecurely through he very questionable postal service. Not to mention the fact that you will wait at least 1 week to receive your money. After I became I credit merchant my business went up 27% in one week and has remained fairly stable since that time.
by: chris dorning
"You have permission to publish this article electronically or in print, free of charge, as long as the by lines are included and all links remain active. A courtesy copy of your publication would be appreciated." Email notice of intent to publish is greatly appreciated but not Required: chris_dorning@yahoo.com Accepting credit cards-Explained Firstly let me point out that it is very difficult, to compete in a highly competitive market without being able to accept credit cards as payment from your customers. Most people who buy online use their credit cards to pay. To accept credit cards you need to be accredit merchant. There is a big misconception that becoming a “merchant†is a lengthy and expensive process that takes months to complete. This is not the case anymore, there are now many agencies on th enet who are more than happy to give you “merchant†status. What follows is step-by-step guide to finding and setting up your merchant account. Firstly, deciding which company you want to use. You obviously want an agency which is reputable, has been around for a few years at least, and one which offers monthly direct payment straight into your bank account. These, may sound like obvious requirements but believe it or not most credit agencies still pay their customers through cheques. Now I don’t know about you but if I have a really good month, I definitely do not want all my money being sent insecurely through he very questionable postal service. Not to mention the fact that you will wait at least 1 week to receive your money. After I became I credit merchant my business went up 27% in one week and has remained fairly stable since that time.
Tuesday, October 16, 2007
some ways.....
Have you ever played the game of monopoly? Have you ever stopped to think how this could apply to your business? Have you ever been exposed to the hidden secret in the game that will help you earn more money in your business? Could you use this secret in someway to increase the amount of money you earn? The answer to the above asked questions is ‘YES’ for those thousands and thousands of people who are striving to make more money in their online businesses each day. Monopoly is a very simple game of words and once you understand how to win it will bring the fun with having enough money and good luck.
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