How Do I Get a Merchant Account?
A merchant account is the basis for accepting payment cards. In simplest terms, it’s a business arrangement between you (the merchant) and a credit card processor (also known as a merchant services provider or merchant account provider). The processor acts as an intermediary with the credit card networks and issuing banks, handling the authorization of your transactions and depositing the proceeds into your bank account. The processor also provides you with the hardware and software required to accept credit cards. Consequently, choosing the right processor to handle your credit card processing needs is very important. Here are eight tips to get you started:
- Be an educated consumer. Learn about merchant accounts and the fees involved. Go into the process with some basic information under your belt. There are plenty of articles on the Internet and elsewhere that you can read prior to talking with a merchant account provider.
Businesses Embracing PCI Compliance
According to an official with the Payment Card Industry Security Standards Council (PCI SSC), retailers have been making significant strides toward preventing data breaches, thereby protecting both themselves and their customers. “Anecdotal evidence suggests that we are seeing a huge swing in momentum in the adoption of the PCI standards by all organizations,” says General Manager Bob Russo.
PCI compliance — or at least the concept behind it — is gaining traction with U.S. businesses. A recently-released study of small and mid-sized retailers from the National Retail Federation and First Data Corp. reports that 86% of respondents said they want to protect their customers’ data because credit and debit card security is vital to their business. However, 64% of them believed their systems were not vulnerable to hackers, and 60% were not aware that they could pay a fine for each card that must be cancelled if their… Read the rest
Bankruptcy – It May Be Your Last Best Hope to Get Ahead
Bankruptcy is a scary word. To many, it summons up images of losing every asset you own and being ostracized by family and friends. You may think that declaring bankruptcy means that you will never have a good credit score again or qualify for a loan. Many of these are myths perpetuated by credit companies to keep people from declaring bankruptcy. The truth is that there is life after bankruptcy and, for those that are drowning in debt, it offers a second chance.
Common Bankruptcy Myths Debunked
For many considering bankruptcy, there are several misconceptions that might be keeping them from filing for much needed relief from creditors. The most common myth is that those who declare bankruptcy can lose all of their assets, such as their home or vehicle or even personal property. For the vast majority of filers, their property is protected under exemptions outlined in federal… Read the rest
eCommerce: The New Frontier for Small Business
August 4, 2011 by Marc
Filed under Financial, Small Business
If you are a small company owner who thinks making use of the eCommerce marketplace could be reaching too much, reconsider. Using the right credit card merchant account from your merchant services provider, you may be accepting charge cards on the web earlier than it may seem!
The U.S. Small Business Administration (Small business administration) states retailers who aren’t online might be passing up on a effective business tool. “The Internet is showing to become a significant business leveler, permitting small and medium-size companies to compete with the titans on a single global playing area,” the Small business administration describes. “Some of the very efficient marketing and selling tools can be found online, and the potential for reaching a huge audience is accessible to you through the internet.”
That huge audience includes the 47.3 million North American homes with internet access. Nearly 44% of these have looked
How To Gain Quick Settlements
You’ve finally been awarded your settlement. You’re excited to finally move on with your life, but now you’ve got another problem to deal with. You have a number of unpaid bills, and collection agencies have now begun to contact you. Although it’s nice to receive monthly payments from your settlement, it’s just not enough to pay for the enormous amount of debt you find yourself buried under. If you’re in this situation or just need some money quickly, you should consider selling your structured settlement for a lump sum payment. In this article, you’ll learn about the various options you have when selling your settlement.
Full Payments
As the name suggests, this option allows you to sell your entire settlement for a lump sum payment. The company you work with would begin to receive the payments that you currently receive, and, in exchange, provide you with one large payment. This… Read the rest
4 FINANCE TIPS TO TEACH YOUR CHILDREN
FindSecuredCards is a website that offers the best Secured Credit Cards online, as well as a helpful financial blog.
Teaching our children how to manage their money wisely is one of the greatest things every parent can contribute for their kids’ welfare. Not everyone is capable of doing this since it takes a lot of discipline, patience, and good judgment on how to spend money wisely.
Well, here are four of the best finance tips to teach your children which will definitely help them:
1. Open a Savings Account for your child. The first step to teach your kids how to use their money wisely is to open a savings account for them to teach them the value of saving money for the rainy days. Even if they’re just still kids, you can start teaching them money matters and how important it is to budget their money… Read the rest
Put the Pen Down and No One Will Get Hurt
As a consumer, you may have noticed that when purchasing fast food with your credit card you may not have been required to sign a credit card receipt. Good news, Visa has expanded their CPS/Small Ticket credit card processing program, also known as “No Signature Required” program, to include approximately 98% of all business types. This means there is a very good chance that your business now qualifies for the no signature program and will not have to burden your customers with signing credit card receipts for transactions that are less than $15.00 The expansion is intended to improve card growth through increased card issuing, merchant acceptance and overall program innovation. Imagine a world where you can significantly decrease customer check out times and enhance customer satisfaction at the point of sale. The only rules to qualify are as follows:
- Transaction must be less than $15.00
- Must be