Using Credit Card Processing Equipments For Your Business

Credit Card Processing Companies

                   Best Credit Card Companies

If your business has credit card processing setup, then it is sure to attract more business. This is because customers find it more convenient to make payments with credit cards. Now, if your business does not have a credit card processing setup, then it is high time that you avail the services of any of the credit card processing companies in the market and set it up. Setting up credit card processing equipments would also enhance the status of your business. It is considered as a safer payment alternative and customers and businesses can trust the same equally.

If you are running a business based on internet, then it is inevitable that you avail the services of a credit card processing company for making payments. Since internet transactions are more risky, it is advisable to accept payments through credit cards. You can avoid other payment modes and decrease the risks involved.

There are certain things that you should keep in mind while you set up credit card processing equipment. Let us find out these necessities in detail.

Reliability

Since there are many credit card processing companies, you always have the option to compare different companies and choose the best. When you choose the company, make sure that it is reliable and has numerous years of experience in this field. Various parties like financial service providers, banks, various associations etc. offer credit card processing equipments. Choose the one, which you find is more suited for your business model.

Avoid lease

It is always advisable to avoid leasing the equipment. This is because in the end, you will end up paying more money than what it would have cost you to buy them. Keep in mind that credit card processing equipments are here to bring more business and therefore, making this one time investment is going to prove valuable in the future.

Financial Service Providers

                           Credit Card Transactions

Battery and modem

For uninterrupted transactions, make sure that the equipment you purchase has a battery backup. Another thing to look for in your equipment is the speed of the modem. You need to make sure that the modem is capable of executing the transactions at a faster rate as your customers may find it annoying to wait for several minutes to complete a transaction.

So, if you are planning to set up credit card processing for your business, make sure that you follow the above guidelines so that you get the best credit card processing equipment.

Ways To Avoid Paying More On Credit Card Processing Fees

credit card processing

                      Credit card processing fees

Banks definitely want more signature debit transactions to happen than PIN debit transactions. This is   because it results in the merchant paying them more. Most banks prosper largely at the expense of the merchant. However, you would not see any bank revealing this fact to you because they have to make profits and cannot let anything affect it. It is just simple math and as you read on, even you will see it.

Again, this in no way an attempt to discourage the use of the facility for selecting the signature debit option. This article was not aimed at doing that, as it would be counterproductive to your business. But, all we would like to point out is that there are some useful methods, by which you can steer the customers to use their PIN debit option. Before we discuss on how to do that, let us first understand what exactly signature and PIN transactions are.

PIN debit transactions involve allowing customers the option, in which they enter their debit card PIN number into a pin pad machine at the point of sale. At the same time, signature debit transactions call for customers for signing a receipt, just as you see normally for credit card transactions.

The next step involves the credit card processing company processing PIN debit transactions over the networks of NYCE, STAR, Interlink and PULSE. Actually, the costs of these networks are much lower than credit card networks. Here is how the process happens: When the customer swipes their debit card via the card processing terminal and enters their PIN, the authorization of the transaction takes place in real time. Here the funds are collected and money is transferred into the merchant’s account in 2-3 days.

point of sale

                       Card processing banks

To the merchant, there are some obvious advantages of using PIN debit transactions. The credit card processing fees is much reduced. When it comes to signature debit transactions, they do not involve the use of PIN. Debit cards are accepted everywhere and they are actually processed through the same networks as credit cards and also, incur the same discount rates as well as transaction fees. Here, merchants end up paying more money to the banks. This is why signature transactions are profitable for the issuing banks.

Most customers are not aware of the basic difference between the signature-debit transaction and PIN-debit transaction, let alone the cost differences. You need to ensure that your merchant account provider establishes your account with a PIN pad. This will help them save some of the money, which you would have ended up giving to the banks.

The Five Best Credit Card Processing Services

Credit Card Processing Reviews

                    Credit Card Processing Solutions

Around the globe, Credit card transactions are commonly accepted as payment for purchases. We have even moved on to mobile credit card processing, which is a simple and cost-effective option involving a more compact card readers. This dispenses with the need of bulky terminals, and makes the payment system more flexible in many regards.

You’ll find credit card processing reviews aplenty online, but while you’re here, read about some of the best solutions available in the market today.

The Merchant Anywhere Pocket Verifier

This is an easy-to-use, feature-rich device for merchants to carry out payment processing and it is also very economic. The Pocket Verifier can be run on many phones too, and the Android version is especially capable. In fact, this is a good option on any smartphone that this version is compatible with.

CHARGE Anywhere Direct

This is another great mobile card processing solution, and comes with a nice set of features and a not-too-shabby app. A large range of phones is supported, and the payments are completely safe. This is a definite yes for small businesses, but still disappears into the crowd.

Merchant One

This is a sleek, easily handled solution for mobile credit card processing. The app certainly stands out, with an exemplary set of features and a unique design. What detract from that are the price and the small fact that the app itself does not run on too many phones. Though it’s good to have, it costs enough that you might stay away.

MerchantWARE Mobile

, Mobile Credit Card Processing

                 Credit Card Processing Options

This packs the most required aspects in to competent mobile card processing; it carries well, and works well too. What’s missing is the refinement that higher-ranked mCommerce alternatives possess. If you’re subscribed to their services already, then you’d do well to get MerchantWARE Mobile. If you’re not committed yet, think hard before you pick this one. When I write credit card processing reviews, I want them to be of help to the users.

ePNMobile

Considering everything this brings to the table, ePNMobile is bland in comparison to alternatives. There’s a lot more they could have done with it. Hopefully the new Android and iPhone apps will prove a saving grace to what is an essentially a deficient credit card processing option.

The heaviest emphasis we’ve given here is to the convenience of the features, as well as the general ease of using the phone apps. For more such reviews, check out the other posts.

Accepting Credit Card Payments Online

Quickbooks credit card processing

         Quickbooks credit card processing info

Nowadays, any business requires an online presence and a credit card payment facility.  The number of online purchases happening has increased by leaps and bounds.  So, if your business needs to cater to the needs of its customers and prospective clients, it is necessary to provide a credit card processing facility. Many users wish to purchase things at the convenience of their home, through their computer or mobile device. So, an online credit card payment facility is an important thing to have for running a successful online business.

Now, if you are new to the credit card world, you probably would be overwhelmed by the number of technical information you need to know. For instance, when we are talking about “discount rate”, it is a per transaction fee that the card issuer charges you. You need to know that this usually ranges from one to four percent, depending on the various conditions and offers. There is something called a “Virtual terminal”, which is actually a series of web-based services that allows you to fill in your credit card number in your web browser and have the transaction completed online. This credit card processing replaces the traditional swipe machines for swiping your credit cards.

There are a few credit card processing facilities available for you to use. PayPal is one of the best and most used one. The only thing you need to do to avail the facility is to pay a few bucks to have a PayPal business account.  This means you need to pay $30 a month along with transaction fees of 2.4 to 3.1% for using their virtual terminal software.

transaction fee

         Quickbooks credit card processing help

Another quality service is Intuit. This merchant service require you to pay $13 a month for availing the service. Even though they have their own virtual terminal software and their home page requires time to get used to. The charges per transaction actually range from 1.9 to 2.9%.

If anything has to be recommended here, Intuit would be the first choice. Actually, they are very well geared towards their online products, having an easy and sign-up process. In case you use Quickbooks credit card processing, it can be integrated with that too for all the transactions.  Quickbooks credit card processing is pretty useful because it has been in use for a couple of decades now, the earliest being the DOS version. PayPal looks too costly, but if you can afford the cost, the facilities they provide are good.

App For Processing Credit Cards Introduced In iPhone

Iphone Credit Card Processing

      Credit Card Processing Through Iphone

Most of the companies around the world provide the option for their customers to process payments through credit cards. Since there is stiff competition in the market, most of the companies are exploring new options, which will increase the customer base of their company. Nowadays, we can see mobile salespersons for door to door selling with many of the retailers and merchants.

If the customer opts to make the payment through his Master Card or Visa card, then these salespersons will surely face some problems. The terminals that are used for the credit card processing are larger and it is difficult to carry from one place to another. Thus, a company loses its sales because of the inability to accept the payments through a customer’s card.

This will not be a problem if the salespersons use iPhones. This is because the salespersons can download and install the Accept Credit Cards Now application, which will help them to easily carry out the payments. In iPhone credit card processing, when you open the application, your iPhone will work as a mobile credit card terminal. You can easily integrate it with online payment gateways. All you need to do is to download the app from the Apple Store and install it in your iPhone. Then you can easily integrate with any online gateways and start using your iPhone as a mobile credit card terminal.

Apple Store

         Use Of Iphone Credit Card Processing

As soon as you install this application on your iPhone, you can start accepting credit card payments. Thus, it provides two benefits. Firstly, it will help your company’s salesperson to instantly check the status of the payment and they can ask the customers to produce any other credit cards if a credit card payment is rejected. This will help a business to increase its credibility as the payments are processed in real time. Moreover, it provides the option to salespersons to give the transaction details quickly whenever required. An email receipt of the transaction will be also received by the customer.

Carrying out iPhone credit card processing with the help of Accept Credit Cards Now App is very easy and can be done within a matter of minutes. Use of the application will prevent the need to use wires, cables, credit card swiping etc, which is not featured in traditional card terminals. Since the salespersons can process the payments anywhere and at anytime, they will benefit greatly from the Accept Credit Cards Now App introduced in iPhone.

A Cool IPhone Credit Card Reader

IOS Platform

               Square Credit Card Reader

Credit card processing systems have gone through some big advancement in the last few years. The popularity of smartphones has indeed brought many changes to the way credit cards are processed these days. For example, you can now dispense with the clunky credit card terminal systems and swipe terminals, as just a smartphone app is enough to facilitate the transaction!

About Square credit card processing system for iPhones

The use of credit card processing apps is a big trend these days. They are very convenient to use and easy to setup. In addition, most of these apps do not come with any specific setup charges either. You can just go online, download the app, install it in your iPhone or iPad, and start processing credit cards by setting up an account instantly.

One new app for the iOS platform is Square credit card processing system. This app available for free at the Apple App Store. The main difference between this app and the other smartphone card processing apps out there is the use of an external device for swiping the cards.

This option is not found in other popular apps. There, you just have to enter the credit information to facilitate the transaction. There is no need to use an actual card at all, if you remember the number. Obviously, many credit card processing companies consider such transactions risky. There is a small chance that the person, who is using the credit card information, might not be the actual account holder and that he or she does not even own such a credit card.

IOS Platform

                      Square Credit Card Reader

So for security reasons, these credit card processing companies insist on the swiping of credit cards rather than manually entering the data. It is not that they will not allow you to use the second option. Both these options are indeed available. However, you will be charged more for these ‘card-less’ transactions. Square credit card processing app reduces all these unnecessary costs and ensures that the transactions are indeed secure.

You can order Square Credit Card Reader online and attach it to your iPhone or iPad easily. Both the app and the card reader device are available free of cost. If you happened to purchase Square card reader from a retail store, which will cost you about $10, you will receive a redemption code for that amount when you start your account in the app. Apart from the 2.75% charged on each card transactions, there are no other costs involved either.

A Review Of Costco Credit Card Processing

Costco Credit Card Processing

                           Credit Card Process

The society we live in is turning into a cashless society, even when the credit card processing rates are so high. It is a part of the credit card processing where people with transactions lower than a certain limit will not be able to enjoy its benefits, which is the same in Costco credit card processing.

People running businesses who do not make much transactions as intended, suffer a lot since they would not get the benefits of credit card processing. The credit card processing fee is divided into two parts; one is a minimum percent of the transaction, which is normally 1.5 percent to 3 percent along with a flat fee of almost twenty to thirty percent of every transaction. This rate affects mostly the ones running a small business with plenty of small transactions.

The Costco Rates

If you are a beginner, then the first thing that you need to know about Costco credit card processing is that it is not directly offered by Costco. Costco collaborates up with Elavon to deliver the services to the customers of Costco. Elavon is one of the major payment processing companies. For your reference, here are some of the reviews about the credit card process.

The processing fee for the retail merchants is about 1.48 percentage, along with 20 cents for each transaction. Telephone Merchants, Internet Merchants or Mail order merchants are charged about 1.99 percent of the transaction along with 27 cents for each transaction. They also offer free services, which will not be funded to your account until the completion of twelve months of service.

Business Cards

                              Visa Credit Card

Advantages of Costco over other processes

The rates are different for different types of cards used. This is something that is usual with every merchant services of card processing. For instance, business cards and reward cards cost you more than other cards. When credit cards are used, you would get some rewards, which is a common thing in credit card processing nowadays. This also means that the lowest rate of 1.48 percent applies only for transactions that qualify for the same.

This percent of 1.48 at present applies to all the major Visa and Master cards. However, the transaction fee for business cards and reward cards will cost you more. Another important point to be noted is that most of the consumers presently use AmEx and Discover or both.

PayPal Card Processing For Nonprofits

Paypal Credit Card Processing

                       Paypal Credit Cards

PayPal is one of the international e-commerce businesses that assist in credit card transactions over the internet. Making payments over the internet is fast and easy, replacing the payments done with money orders and checks. Many nonprofit organizations are making successful payments with the help of PayPal. Now PayPal has collaborated with Blackbaud in order to offer a service called BlackbaudNow. This process enables secure donations with a single click. IT also sends emails to the donors with the history of the donation made.

Judy Chang explained about the latest features of PayPal. He mentioned that by the year 2010, more than 200,000 non-profit organizations started using PayPal in order to receive donations. More than 250 non-profit organizations join PayPal on a daily average. The service enables nonprofit organizations to accept donations from a broader range of donors very safely and more easily. PayPal Credit Card Processing offers targeted online solutions and gives out relevant offers.

Moreover, BlackbaudNow has multiple options with which they can use PayPal. There is a donate button that is fast and easy as it is integrated with the website. This feature is useful for most of the non-profit organizations that receive less than 100,000 dollars every year. Another feature is that PayPal has a widget on some of the social networking sites such as Facebook. The widget is more useful for websites that allow individuals and non-profits to raise money through online applications. The widget has become viral since donors just need to copy and add them to their own website. There is a facility to track the process of a goal and support the top supporters in addition. Later the donors can check this on the website.

Transaction Fee

                      Debit Card Payments

This is an advantage for the nonprofit organization as they incur very low rates on transactions. The fee is applicable only when these organizations accept the donation. When the organization does not get any donations, the charity would not be charged with the fee.

These are some of the fees that are charged for different organizations. Donate button transaction fee is about 1.9 percent, including 0.30 percent of every transaction for all the organizations that get over 100,000 dollars monthly. For the organizations that receive a monthly income of less than 100,000 dollars every month, the transaction fee is 2.2 percent plus 0.30 dollars for every transaction. Another requirement to be eligible for the non-profit transaction fee for PayPal Credit Card Processing is that the organization needs to have all the necessary documents to support the claim.

Hiring A Good Credit Service Company

credit card processing companies

              Services processing credit cards

Thanks to plastic money, people no longer have to carry a large wad of cash wherever they go. Over the years, most customers are now used to this feature and walk in to most shops or service shops with just a card. In order to accommodate the current trend, most enterprises give them the flexibility of paying using credit cards.

Apart from normal businesses, which received a small boost from the credit card surge, the biggest benefits were reaped by online shopping portals, who expanded through the credit card shopping. It became a quick, attractive and hassle-free option, using which you can make online payment upon purchase.

Behind the curtains, credit card processing companies handle the entire transaction between the individuals’ bank and the business’s bank to make this payment through. These service firms do this in return for a small transaction fee on each transaction made between the buyer and the seller. Even though this may put off a small business owner, who hopes to maximize the profit margin, they must understand that owning such a feature brings in customers that would prefer to use credit cards over cash payment.

The growth in your customer base will depend on many different factors including the choice of merchant account service to accept credit card payment. Regardless of the type of product or service you provide, setting up an online portal to sell it over the internet as well will bring in huge benefits.

Different forms of credit card processing companies:

  • Banks: They should be your first choice provided they have competitive rates. Other benefit of using banks is employing multiple packages with merchant accounts. However, banks are ridiculously slow when approving your account because they carefully screen your business finance before starting a new account.
  • Third Party Processors: They take care of authorization, billing, reporting and settlement without the need of a merchant account.
  • Independent Sales Organisations: Charge higher commission but provide excellent customer services and easy approval in getting a merchant account.

    small business owner

               Authorizing and processing credit cards

  • Trade Associations: If availing merchant account is difficult through normal channels, trade associations are your best bet.
  • Offshore Merchant services: Another alternative merchant services for those businesses, which have bad credit. However, on the downside, they are not well regulated.

Depending on your business venture, look into all the possible options and give importance to long term goals as well. Remember to exercise caution when hiring a credit card processing service.