Global Merchant Tips and News

March 2008 - Posts

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  VPOS - Virtual Point of Sale Terminal Virtual terminal is an online version of the credit card swipe machines used in stores. It has an added advantage of increased sales, and cost saving. No expenditure on expensive equipment is required, hence it becomes a highly cost effective way. Virtual terminal becomes the best option for the merchants who are into the manual swiping of the credit cards as they enter the card and check the transactions for mail/telephone order sales. Virtual Terminal allows you to process credit card transactions... Read More... Published: Wednesday, March 26, 2008, 09:58 AM Tags: Merchant Account Services

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  PCI PED Introduced to Minimize the Risk Inherent in Card Transactions Visa and MasterCard together form the Payment Card Industry (PCI) for securing PEDs (PIN entry devices). Late last year, specifications were released by the PCI for POS (point-of-sale) devices. Hence, PCI PED (Payment Card Industry PIN Entry Device) is a card association mandate, which now takes effect for all new credit card processing terminals. PCI PCI, comprising of a common set of industry tools and measurements to ensure safe handling of sensitive information and improve cardholders confidence... Read More... Published: Thursday, March 20, 2008, 11:31 AM

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  What is an Early Termination Fee? Early termination fees (ETFs) is a charge levied on a party that wants to terminate their merchant contract or agreement prior to the completion of the term of the contract as stipulated in the contract itself. Now that you know what an early termination fees is, let me also point out to those who haven’t already realized that any service provider who intends to lock you into a two or three year contract with a clause that mentions a several hundred dollar termination fee, may not be worth the trouble... Read More... Published: Tuesday, March 18, 2008, 08:19 AM Tags: Merchant Account Services

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  Comprehensive View of Electronic Check Services Electronic check services make for additional methods of accepting payments from customers. But what is an electronic check service? It is a service usually offered by credit card processors along with their merchant services, that allows customers to pay for goods and services using their personal or business checking account from your web site. Electronic check processing (ECP)is meant to help organizations by reducing the volume of their paper transactions. This method of payment processing is... Read More... Published: Thursday, March 13, 2008, 09:59 AM Tags: Credit Cards

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  Security an important feature to consider in Online Payment Option In the present era online payment has become another option to make payments. It is very important to offer this service to increase sales and maintain that sales level. If you are not offering the option to pay online then your sales graph is supposed to decrease. The people who shop online expect to buy immediately and pay easily online through credit cards and if this facility is not offered they will soon turn to next website. It’s very easy to get started with online credit card processing.... Read More... Published: Tuesday, March 04, 2008, 08:23 AM Tags: Merchant Account Services