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Debit And Credit Card Payments For Small Businesses

Debit And Credit Card Payments For Small Businesses

These days the mjority of our transactions seem to be carried out by debit or credit card.  Ever since the arrival of Chip and PIN even the smallest purchases at the supermarket or local shop often involve inserting the card as opposed to hunting for cash.  A few numbers keyed in and the push of a green button and the transaction is made, end of story.  No longer is there any need to carry large stacks of cash around that can be lost or stolen, your money remains safe and sound in the bank.

A facility that was once only offered by the larger outlets is now available at much more humble points of purchase.  The local takeaway or off-licence will nearly always have a handheld terminal at which the cardowner can make a purchase.  It sometimes at times as though cash is being phased out entirely.

To meet this increased demand from the smaller business operator it has become completely necessary for the company providing the facility to process credit and debit cards to become more competitive.  Restrictive charges or unreasonably high minimum usage requirements would prevent the industry from expanding into these new areas.  The market today naturally demands that the means of processing credit or debit cards be brought within the reach of small and medium businesses.

Provision of the familiar portable terminal will sometimes also be delivered alongside the means to process payments online.  The majority of businesses today will have their own websites, and it is at this point that the customer is often persuaded to make a payment.  Quite apart from all the mental and physical work that is entailed in writing a cheque, addressing an envelope and putting it into the post, the provider of the service will be wary of the opportunities that such a scenario provides to the customer to change his mind, or even simply to forget or not get around to sending off the payment.  A situation which, for an often struggling business, needs to be avoided at all costs.

Whichever way one looks at it, the means to accept debit or credit card payments is a vital business need today, and the supplier who can give small and medium businesses the equipment to provide it at a reasonable cost and with the least amount of fuss involved is going to generate a lot of custom.

Mark Richards is a professional writer working for both The Middle Man, a web-based business promotion agency, and Simple Statements, which specialises in composing and distributing press releases.

Credit card processing services for business men

Credit card processing services for business men

If you run your own business and ready to accept the credit card payment, then finding a reputed credit card processing service to partner with is essential. Undeniably, accepting a card payment from the users can make a huge difference in your advertising performance. There are so many benefits of having a merchant account. One of the essential factors that needs to be consider at the time of evaluating various card processing companies. Almost all the consumers today prefer to pay a card for the convenience. Whether your customer selects to buy from the internet or personally visits your location, then providing them cash or card payment options will surely give you the edge over your competitors.

 

Just imagine how much transaction you can lose if you only accept the cash payment. If you are a wholesale dealer, then accepting card payment from B2B clients is also an advantage especially as rising numbers of small business entrepreneurs’ today use business credit just to build the corporate credit status. A trusted company will never demand unreasonable charges for some services. Versatility is a very important service in order to ensure that you will be able to accept various kinds of credit cards that are used by the consumers.

 

As there are various card issuers made available in the market so you need to select the best one as per your choices and interests. Another service is the reliable fraud and safety measures. Business who accepts the credit payments should be aware of the risk of the credit card fraud and identity theft. Numbers of companies need little amount of charges. It is completely depends upon the number of card transactions that a commercial reaches every month. Always view that the money you pay for the service will highly value your expenses.

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Five Huge Advantages to Credit Card Processing for Small Businesses

Five Huge Advantages to Credit Card Processing for Small Businesses

With the right product or service, even the little guy can take on his competitors and win. But in order to compete against the big guys, the small business owner needs to be able to offer customers the same conveniences other merchants are offering. One of the biggest conveniences you can offer your customers? Accepting credit card payments. And with the development of merchant accounts, that step is easier than ever.

As a business owner, you can establish a merchant account through a bank, credit card company or other payment processor. There are three types of merchant accounts to consider:

Retail merchant accounts charge the lowest transaction fees, but are often restrictive. If you’re a retail merchant, you will pay a high percentage of your credit card sales and the card must be presented and swiped through a credit card terminal. These are best for bricks-and-mortar operations like a hotel, restaurant or grocery store. They are not designed to process payments through the mail or online.

MOTO merchant accounts – which stand for Mail Order – Telephone Order accounts – are used by merchants who sell their goods through the mail or over the phone. The merchant enters the customer’s credit card payment information into a terminal installed on a personal computer or a Web browser on a payment service provider’s Web site. MOTO accounts charge a higher transaction rate than those of a retail merchant account.

Internet merchant accounts work similarly to MOTO accounts, but are used, obviously, by those with an online business. The merchant uses a virtual terminal or payment service gateway to process the credit card order. These payment service gateways are part of many business Web hosting packages.

As a small business owner, you need to explore which merchant account is right for your business and find the company that is the right fit. Look at the fees you will be charged on transactions, ask questions of the company and ask others in your line of work which account they chose. You will be paying money to use the service, so make sure it fits your needs.

Some small business owners may still be struggling with why they have to accept credit cards. After all, they must pay a processing fee every time a customer presents plastic for payment. Here are five big advantages for business owners who accept credit cards:

1.In the long run, you will make more money by accepting credit card payments than you will pay in processing fees. Studies confirm that when people can pay with a credit card, their orders will be larger than if they paid with cash. One study by renowned accounting firm PricewaterhouseCoopers estimates that the average credit card order is up to three times higher than orders paid for with cash or by check. Customers – online and in store fronts – want to be able to pay with a credit card and they will reward your coffers for the privilege.

2.Merchants and customers will experience real-time processing. Transactions are completed automatically and instantly. If time is important to your business, this can be a real boon. The transaction is done and the product and service (or the receipt for product or service) is delivered within minutes. If, however, your business involves offline sales – meaning you do not deliver product or services over the Internet – you may prefer deferred processing. This allows you to review orders for accuracy before charging the credit card and shipping. And if your online system goes down, a deferred system will not hold up sales because the customer wasn’t online waiting for confirmation.

3.Credit cards are not just a convenience for customers. They are also a convenience for the merchant who can technically stay open for business 24 hours a day, seven days a week. If you operate your business out of California, a client on the East Coast does not need to wait three hours for you to wake up in order to place the order. It’s ordered and paid for before you even got out of bed.

4.Credit card processing can mean fewer trips to the bank for deposits or to resolve bounced checks. You no longer have to wait to see if the check will clear because your payment is usually guaranteed by the credit card company.

5.Enlarge your customer base by adding an online component to your business – one that receives payments through credit cards. Even if yours is a local shop, you ought to have an online presence. With the right tag words, your site may be the first one to pop up with the merchandise sought by someone across the country. That customer does not have to come to your store to pick up and pay for the product – and you, the merchant, have just enlarged your customer base.

Tony Gottleib is a freelance writer who writes about a range of topics including small businesses credit card processing services.

How Credit Card Processing Helps A Business?

How Credit Card Processing Helps A Business?

In today’s world, credit card processing has become a need of every business for its growth and increased sale. If you are someone who has a business (land based or online) and wishes to boost up its sales and position among the competitors, beginning up with a credit card processing service is a good idea.

Customers across the world are using credit cards more and more for paying their bills, whether it’s a restaurant or a shopping mall or a gas station and oil station. Thus, ignoring credit card processing in business can lead to loss in good quality revenues and customers.

Following are the features of business credit card processing which helps to increases revenue and customers, and acts as a benefit for a business owner:

Easy and tempting: What makes customers across the world prefer credit card as a mode of payment, is the fact that it’s quick and frees them from any hassle of carrying large amount of money in their pockets all the time. Often, a customer shopping with a credit card tends to purchase more than he or she planned due to easy access to his/her account.

If you are a small trader you can always impress your customer by providing them credit card processing facility (even when trading in personnel or in exhibition and fairs). Customers who prefer to shop online favor only those sites which have online payment transaction service, thus if you are one of those business site owners with a credit card processing you own the benefit of attracting customers and profit.

Anytime, anywhere: Credit card processing service works 24/7 without a break and can be accessed from any part of the globe. When a customer travels abroad he/she prefers to shop or pay his/her bills with a credit card rather than going through the hassle of carrying heavy cash and getting it switched by foreign exchange.

Online business owners can always make use of this benefit to attract even customers from other part of world with no worry of day/night and time gap of the countries.

Safe and protected: Business with credit card processing is not just safe but also protected from any fraud or cheat. The ‘Anti Fraud Filters’, ‘Address Verification Service’ and power pact data base helps to support a business owner from getting duped by any trickster or fraud customer. Also, it saves a business from bounced or invalid check or delayed payment.

Fact that in credit card processing the credit card number is safe and does not gets misused makes people carry a card rather than cash. Often, when a customer comes online and searches for a website he/she would prefer to trade only with a site that provides safe server and encrypted data as well as SSL (secure socket layering) assisted server.

Whether it’s a land based or online business, small or big business credit card processing is a benefit and a great business tool. While a customer gets to enjoy the convenience of credit card processing, a business gets to earn profit and position.

Credit-Wisdom.com Provides Expert opinions and reviews to help you Compare and apply for credit cards and sign up for retail credit card processing with Credit-Wisdom.com – Unraveling the best in Credit Cards.

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Maximize Your Credit Card Services with Small Business Loans

Maximize Your Credit Card Services with Small Business Loans

Since June 15, 2009, the United States Small Business Administration has been processing deferred payment small business loans of as much as ,000 to be given out to 10,000 small businesses. This is covered by the SBA’s America’s Recovery Capital (ARC) Loan Program.

To qualify, companies should be private enterprises that are for-profit. They should have up to five hundred employees only and should be at least two years old. Furthermore, they should be able to prove financial need with a twenty percent decrease in sales, revenue or working capital. On the other hand, they should be able to prove that one of their two years in business has been profitable, and that with the infusion of cash they will be able to meet their existing and future debt obligations. This means positive cash flow projections. The ARC small business loans are intended to be used to pay outstanding debt such as payables to vendors.

For this batch of small business loans, there are no fees or costs involved, except if the borrower defaults on the loan later. In that case the SBA-approved lender can charge costs for securing and liquidating collateral.

The ARC small business loans also do not charge interest. Actually, the SBA pays the interest for the borrowers. Disbursement of the loan can take as much as six months but payment of the principal is also deferred for the next 12 months. After that, the borrower has five years to repay the loan principal.

Each small business can only avail of one ARC loan. SBA-approved lenders will offer the loans until September 30, 2010 or until available funds run out, whichever comes first.

There are, however, an estimated 30 million small businesses in the United States and only 10,000 of them can avail of the government’s small business loans. What if you do not happen to be among the 10,000 lucky recipients? How will your small business survive?

There are even doubts being raised on whether as much as 10,000 businesses can indeed avail of the ARC loans. There are fears that there may not be enough lenders willing or able to participate in the program. Lenders will have to advance the full amount of the loan, will not receive payment on principal for a full year, and will not be able to charge any fees, thereby absorbing all administrative costs. This may be too steep for many lenders. They may not be able to afford to participate at all.

This is where you as a small business owner can and should maximize your credit card services. We are not talking about your personal credit card services here. Instead, we are referring to the merchant services that enable your small business to receive credit card  and debit card payments. Surely, any business these days avails of these types of credit card services. After all, more people pay by credit card or debit card rather than cash.

Most credit card services offer small business cash advances that can be as substantial as small business loans. These small business loans do not require any collateral because they are secured by your company’s future credit card receivables. This is even more convenient for your business because repayment is also built into those receivables. Credit card services automatically deduct a percentage from your income to go toward loan repayment. For as long as you have incoming sales, you can support your loan. Interest rates are often quite affordable considering how the loan can help your business.

Small businesses should therefore look into maximizing these credit card services for small business loans. The survival of your business could hinge on this.

Advanced Merchant Services
Contact Name: Roger Inman
P.O. Box 1475 Safety Harbor, FL 34691
Bus: 727-642-3606
Bus Fax: 877-413-6067
E-mail: rinman3@tampabay.rr.com
Website: www.bankcardprocess.com


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