Posts Tagged: ‘Credit’

Offshore Credit Card Processing

January 8, 2012 Posted by merchant

Running an internet business or e-commerce website requires some sort of payment processing so that your customers have an easy way to pay you. However, you may be limited with the merchant bank that are willing to assist you due to the nature of the business.

Due to the nature of online businesses, your business will probably be categorized as being high-risk. This is not something to worry about, though. All it means is that your options are going to be extremely limited when looking for domestic banks willing to accept you as a merchant account.

Offshore credit card processing can provide your business the means to handle online transactions. With offshore credit card processing options, you now have a wider choice of banks and financial institutions that will do business with you.

If your business resides within the U.S., then you are probably aware of all the laws that govern your business. There are many restrictions, including the ability and means to process online payments. But with offshore credit card processing, you are no longer bound by these laws and limitations. Believe it or not there are many more advantages to having offshore processing rather than using domestic processing services. Let us take a look at what some of those benefits are:

o Accept a larger range of credit cards

o Accept foreign forms of credit

o No transaction minimums or maximums

o No large application fee or deposit

o Better customer service

o Maximum privacy

o Tax-reduced transactions

o No hidden fees

o 24/7 operation

As you can see, there many advantages to using an offshore credit card processing service. And, a lot of the times it may be your only option. Also keep in mind that many offshore banks will compete for your business. This is the complete opposite for domestic banks.

When searching for an offshore processing service there are some things you need to be aware of. It is nothing to worry heavily about, but they should be taken into consideration so that your business can continue with its operations without any hiccups.

Just like issues you will have to deal with for domestic credit card services, there are some things you will want to look very closely at with offshore credit card processing services. The first thing to realize is that offshore banks may not be insured like domestic banks are FDIC insured. Doing a little due diligence and knowing the laws in the country in which the bank is located should be your first priority. The government there may not step in and bail the bank out if there is a crisis.

There are other laws you may want to consider as well including customer privacy. Your information should be very important to you and knowing that it is kept private. You want to make sure that the laws governing the bank forbid exposing your financial information. All in all offshore payment processing provides many more options and benefits as opposed to dealing with domestic banks.

About Offshore Credit Card Processing
HR Merchant Services offers offshore credit card processing at http://www.hrmerchant.com HR Merchant Services is based out of New York City, offers high risk merchant services to internet and offline merchants,including credit card processing, merchant account setup, ACH/E-check Processing, E-wallet consulting, and International Company formation. Please visit http://www.hrmerchant.com for further information and free consultation for adult credit card processing.

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Merchant Accounts – Credit Card Processing

January 7, 2012 Posted by merchant

Internet shoppers naturally favor business websites that accept all credit card payments, hence the increasing need for easy to operate, low-cost merchant accounts. On their part, merchant account providers are constantly re-inventing themselves to provide complete security for credit card processing.

A merchant account is essentially a contract or an arrangement between a bank and a merchant, or a merchant account provider and a merchant. The merchant wishes to accept payments for his services/merchandise through card transactions of a particular credit card brand. The acquiring bank extends credit to the merchant, processes the customer’s credit card information and approves the transaction. In addition to such direct dealing, merchant accounts may also operate through intermediaries, called service providers. In this instance, the intermediary, for example Paypal, provides payment services to its clients, who have merchant accounts with them. Paypal, in turn, has a merchant account with a bank.

The payment takes place through a payment gateway. A payment gateway is simply a place where you pay, like the cash counter in a retail unit. Only here it is virtual. The difference, though, is that each shop might have its own cash counter, but in this system, several virtual shops (e-commerce sites) use the same payment gateway whose sole purpose is to channel the details of the customer’s credit card. Merchant account providers log in and key in credit card numbers (which are encrypted). Alternatively, the payment gateway, may be linked to the shopping cart on the merchant account provider’s site. Either way, this part of the online payment processing hardly takes a minute.

The customer places an order along with credit card information, the information is forwarded to the payment gateway, which further sends it to the merchant’s acquiring bank. The bank sends the information to the card association, which in turn sends it to the issuing bank of the card, which checks that balance available with the customer. The issuing bank then approves or rejects the transaction, providing a reason for rejection.

Several merchant account providers offer free credit card terminals and internet payment gateways and free payment gateway software when you open merchant accounts with them. There are others that allow free merchant accounts with low transaction fees. The transaction fee and the discount rate (both together make up the total processing fee charged by the account service provider) are lower for credit card terminal swipes. Then there are discount merchant accounts that charge a very low fee for the bouquet of credit card options you provide to your customers.

For these reasons and more, choose Ace Merchant Processing for your merchant accounts. For one, our ISO/MSP certified merchant services are truly low cost – free set up and free terminals and a monthly service fee of only 1.64% +19 cents. Also, we are proud to offer a fraud -proof system and cheerful 24*365 service, to every kind of business. And, the reason why you simply must set up your account with us is that we you same day approval!

Hi, Reader I am a Manan Mehta owner of Ace Merchant Processing.

Ace Merchant Processing is a registered ISO/MSP for BancorpSouth Bank, Tupelo, MS. As a merchant services provider, our primary focus is to make available to merchants credit and debit/check card processing services and processing equipment. We also provide other financial services including gift, prepaid, and EBT cards; check processing systems; and cash advance programs.

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Credit Card Processing Services: What Services Do They Offer?

January 7, 2012 Posted by merchant

Credit card processing services-also known as merchant services-are well known for supplying businesses with merchant accounts and terminals for credit payments. But for today’s merchant services, traditional credit card processing is one offering among many. Below, we list some contemporary services commonly offered by in addition to traditional credit payment accounts.

1. Online Payment

This type of payment can increase your sales by allowing your customers to buy online, as well as offline and via mobile devices. For businesses, online payment offers the advantages of not having to secure authorizations or ensure payments are credited to their accounts, tasks that are handled by a card processor.

2. Check Processing Software

For many people, debit/credit cards have replaced checks. But for others, who “grew up” on checks, they’re still the preferred payment method. That means you should have a way to process customer checks at your points of sale, as opposed to hoping they don’t bounce or disallowing them. Check processing software allows you to ensure a check is good before you accept it. This facilitates faster conversion of checks into money in your account.

3. Debit Card Account

Debit cards are a popular way to pay for small to midsize purchases, such as food orders or clothing goods, and for services like furniture moving and lawn and gardening services. By accepting payment via debit cards, you’ll give customers one more way to pay, which is always good business.

4. Wireless card machines

Wireless machines are faster than those using telephone lines, and offer the following additional benefits:

• allow payments on cards as a check or a debit transaction;

• provide mobility for businesses that sell their goods or services at temporary locations; and

• allow mobile businesses to access the same authorization networks as stationary businesses.

Choosing the Right Options for Your Business

The options above are only a few of those offered by today’s merchant service providers, who focus on supplying their customers with options that meets their needs. This includes options for receiving payments

• by check,

• by debit/credit card,

• over the Internet,

• via a wireless device, and

• over the telephone.

In recommending the right options for your business, a merchant service will assess (a) how it receives payments in relation to how its customer segment(s) have the ability to pay, and (b) how much its current arrangements are costing it versus the cost of different arrangements. If you suspect your sales aren’t what they could be, or that you could save more in account fees with different pay arrangements, don’t let your would be profits keep trickling away: contact a merchant service today.

In my research on credit card processing, I’ve studied the value of various credit card processing services offered by a merchant service.

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Virtual Credit Cards

January 7, 2012 Posted by merchant

As reality reveals, not every internet user has his own credit or debit card. Hence, many of them are not able to enjoy the convenience of transacting online. Another important consideration is that, many credit card users are afraid that their card information will be compromised.

With these problems, business developers were able to come up with a solution that is beneficial for everyone: a Virtual Credit Card.

What is a Virtual Credit Card (VCC)?

A VCC is a pre-loaded, in some cases re-loadable, card account that works in replacement of a debit card. It is like having a real debit card account without having the physical card. With a VCC, you can have peace of mind while shopping or transacting online. It doesn’t require you to reveal your personal information because you can use it with any name and address. Fast, convenient and secure. Plus, VCCs can be used anywhere in the world where major credit cards are accepted. There may be some country restrictions so some merchants may block the transaction because of user’s IP address but you can overcome this issue by using a socks or a proxy server.

Virtual credit cards will provide you with a peace of mind while shopping or transacting online.

Who can use a VCC?

Anyone from around the world can purchase and own a virtual credit card. It can be any person who wants to make payments and transactions online but prefers not to expose his or her own debit card information or it could simply be someone who doesn’t have a debit card at all. Usually, merchants do not require any ID when you purchase a virtual credit card. Virtual card details are provided instantly after you make a payment. Clients are responsible for any illegal use of these cards. Payments can usually be made through popular e-currency payment systems such as Liberty Reserve or Webmoney. Some merchants will accept PayPal, Moneybookers, AlertPay etc. Among regular payment options there could also be WU/MG or Bank Wire.

What information is provided after the payment?

After the payment, you will receive the following information:

1. VCC type (Visa, MasterCard)

2. VCC number

3. CVC / CVC2 number (also known as verification code)

4. An expiry date

The most popular VCC among internet users is Visa Virtual. The majority of VCCs out there are issued by Visa but you may see some MasterCard virtual cards as well. Cards are usually delivered instantly after a successful payment by Liberty Reserve or Webmoney. Payment options such as WU/MG or Bank Wire require a merchant to receive funds first before revealing virtual card details.

Where could one use a VCC?

Virtual credit cards can be used for online purchases and transactions on any online merchant, distributor, business websites, or in short, anywhere credit cards are accepted. Some are also used to verify PayPal and other similar payment accounts. Even though VCCs do not require you to reveal your true personal information, a valid address must be provided for online orders that require physical delivery.

You are welcome to use our instant virtual credit card delivery service. We guarantee professional support and the lowest prices on visa virtual cards.

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