Global Merchant Tips and News

February 2007 - Posts

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  Pre-requisites for getting a Merchant Account Accepting credit cards through merchant accounts leads to significant increase in sales. The merchant account for every business would depend on their business type and how they make sales. For instance, a brick and mortar businessman needs to have a merchant account that enables the acceptance of point-of-sale credit card payments, in which the card itself is swiped. Similarly mail order transactions will require a MOTO (Mail Order/Telephone Order) merchant account. You may open these merchant accounts... Read More... Published: Monday, February 26, 2007, 07:04 AM Tags: Merchant Account Services

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  Setting up a Retail Merchant Account Retail merchant accounts are considered relatively low risk merchant accounts and setting them up is fairly simple. There are a lot of options available with the best rates. Despite the low risk associated with retail merchant accounts, there are a few pitfalls that one must be aware of, in order to avoid them effectively. Following are a few measures you can take to ensure smooth working of your retail merchant account. If you have a long-standing business relationship with a small, local bank,... Read More... Published: Friday, February 23, 2007, 10:13 AM Tags: Merchant Account Services

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  The Mechanics of Credit Card Transactions The process of credit card processing involves: - The card holder - The card issuer, which is the bank that issues the credit card to the cardholder; - The merchant - The merchant acquirer, which is often a bank that processes transactions on behalf of the merchant - The card association - examples of which include VISA or MasterCard. Collecting payment through the interchange systems is a two-part process: The Clearing Process The clearing process does not involve any financial transaction but is... Read More... Published: Friday, February 23, 2007, 10:09 AM Tags: Credit Cards

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  Wireless Merchant Accounts for Mobile Merchants In the wireless world of today, why not opt for a wireless merchant account and open a world of opportunities for your business? Wireless is a fast evolving technology and a sensible choice for many merchants. Mobile commerce merchants have seen their volume grow manifold ever since they have set up a wireless merchant account for credit card processing. This allows them to use their wireless credit card terminal wherever they are- in the car, at home, at the customer's office or even when flying... Read More... Published: Friday, February 16, 2007, 10:16 AM

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  List of Items You Need for a Merchant Account Once you have decided on the type of merchant account that best suits your business and have elected to partner with a particular bank or any other financial organization, its time to get your paperwork together. Opening a merchant account requires a long list of documents and financial information. Following is a checklist of items that you must have in your kitty when you open your merchant account. Identity Proof Proof of identity is essential when applying for a merchant account. A photocopy... Read More... Published: Tuesday, February 13, 2007, 10:12 AM Tags: Merchant Account Services

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  Credit Card Processing Machines Credit cards are said to be a ruling mode of payment. The use of credit cards is taken as a status symbol among the society. New types of credit card processing machines have come in the market that enables a user easy, safe and quick processing. We can say that a wide spectrum of credit card machines and credit card processing equipment have been introduced to accept credit cards. The most popular brands of credit card equipment in the US is Verifone, Hypercom, and Lipman. The credit card processing... Read More... Published: Tuesday, February 13, 2007, 10:09 AM Tags: Credit Cards

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  High Risk Merchant Accounts A High-risk merchant account is a merchant account service provided to internet merchants that have been declared "high-risk" by Visa and MasterCard. This is owing to the nature of their businesses, that have a high credit rate or a high turnover but also, an increased risk of fraud. Characteristically, it's very hard for high risk and non-US businesses to obtain a merchant account. High risk merchant accounts offered by different service providers allow International Merchants to privately process... Read More... Published: Tuesday, February 06, 2007, 11:32 AM Tags: Merchant Account Services

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  Credit Card Payment Methods Merchant accounts, as the name suggests are accounts for merchants or business owners with banks or financial institutions, through which credit cards are processed. Thus, a merchant account provider works to process credit cards for a merchant for a certain fee that is fixed or a small percentage of the amount being processed. The methods utilized to process credit cards may vary from one merchant account provider to the other. The industry type and the volume of credit card payments that need to... Read More... Published: Sunday, February 04, 2007, 04:48 PM Tags: Credit Cards