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yurq4shiv8o
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Check the compliance of the equipment you are being offered. Is the equipment PCI compliant? (The Payment Card Industry Data Security Standard was established in 2006 to ensure that companies that process, store or transmit credit card information maintain a secure system. Your business needs to comply. This is something on which you should insist.)
Next, you need to determine if you need deferred or real-time processing of the credit card charge. With real-time processing, your customer can get immediate approval. This quick process is preferred, especially if you are trying to deliver an immediate response, such as information or an online application. With deferred processing, the order is sent to your business for you to process later. Th
you have managed to run a cash-only business this long into the new century, you obviously have a dedicated and loyal clientele. But in this economy, you need to attract all the customers you can find. And one of the best ways to attract new customers is to accept credit card payments.Todays consumers have changed their spending habits. They expect to be able to charge purchases and services on a credit card otherwise known as a bank card. This client habit actually benefits you, the merchant, as well as most people because they will spend more money than intended if they can pay for products or services with a credit card.
Think about it. If you walk into a store with $10 in your pocket, then that is all you can spend. You can spend anywhere from nothing to $10. But $10 is the maximum.On the other hand, if you walk into a store with a credit card in your pocket, intending to spend $8 [link widoczny dla zalogowanych], and you find products on sale or you find something you have been looking for it is easy to increase the amount of that sale. After all, pay day is just a week away.What you, the retailer, need to do is hold down the costs of processing credit card payments. After all, it will cost you money to accept your customers credit cards as payment.
What you need to do [link widoczny dla zalogowanych], as a merchant, is set up a merchant account. These are account needed to process credit card purchases. They are offered by most banks. The bank you sign on with will ask you to sign a contract, agreeing to rules that define how goods will be bought, sold and paid for.There are two types merchant accounts a retailer can open one being an over-the-counter (OTC) account and the second is a money-order or telephone-order (MOTO).
If yours is an over-the-counter kind of business, an OTC account is for you. Retail merchants can expect a lower rate and lower transaction fees because the customers credit card is usually presented at the point of sale.MOTO accounts are generally reserved for those merchants who conduct an Internet-based business. These require more steps and, as a result, carry a higher fee than an OTC account.
So how do you find the right merchant account for your business? Here are some things to look for:
Consider the fee that you, the merchant, will pay for each credit card transaction. The fees vary from merchant account to merchant account. Look for the lowest rate. Thats a good place to start [link widoczny dla zalogowanych], but it is certainly not all you should consider. You also need to review the services offered on your merchant account. Ask what kinds of services you can expect from your provider such as electronic balance transfers and gift and loyalty cards.
Review the equipment your merchant account offers to provide you. Is it up-to-date? Does the service provide 24/7 customer support? After all, if your equipment is down, you are effectively out of business if your customers want to charge their purchase.
Ask which credit cards can be processed on the merchant account. If the selection of cards is limited, you may be limiting your business, as well.
How soon can you get access to your funds? Some accounts offer next-day service.With others, you may have to wait a few days. You should seek the fewest days possible.
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Fri 5:39, 01 Apr 2011 |
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