Apr 22 2008
Your Fast Merchant Account Is Waiting!
Your Fast Merchant Account Is Waiting!
A Fast Merchant Account is waiting to usher your business into the technology age! All you need to do is choose a lender that will work with your company and then enjoy the benefits of a fast merchant account. Here are some of the ways in which your company can advance with the help of a merchant services account:
1. A Fast Merchant Account will link you to a stable lender with the authority to help your company get set up to accept credit card payments. You will enjoy the prestige and security of working with a top-notch banker or a dependable financial institution that can provide the know-how and a safety net for your credit processing transactions. Take time to find one with a solid financial reputation that offers equitable terms at affordable rates. Enjoying the reputation of providing credit card processing options will secure your position in the local business community.
2. A Fast Merchant Account could bring in more customers. Many consumers dislike the hassles of paying by cash. Some don’t like to carry along a checkbook when they go shopping. When they visit your Website or shop and learn that you do not accept credit cards, you may have lost your chance forever to court their favor and curry their patronage. But offering credit card processing can move the checkout line quickly along and help paying customers avoid problems associated with cash-only transactions. Post a sign on your Website or at your door to let shoppers know that credit will be accepted.
3. A Fast Merchant Account may prompt your clients to shop often and spend more. Some studies suggest that customers who pay with credit cards buy more than those who pay with cash. While you don’t want to encourage reckless spending in your customers, you want to provide them with the freedom to choose the most convenient payment method rather than restricting the way they can do business with your company. They may get in the habit of shopping with your enterprise, and they could even bring along family members and friends. Many company owners who open merchant accounts claim that their client bases grow along with their profits.
4. A Fast Merchant Account might increase your sales volume and profit margin. When customers feel comfortable in shopping at a company where they can use credit payments, they may be inclined to buy more and to return often. They could let others know as well, and before you know it, your client base could double. But if you continue doing business the old fashioned way, you may never see these benefits materialize. Before you know it, your local and international competitors will be doing business light years ahead of you if you do not open a merchant account and provide credit processing options like credit card swiping and Website credit payments to your clientele.
Find out what merchant services can do to prepare your business to negotiate e-commerce in the 21st century. It can all begin with a Fast Merchant Account!
Shane Penrod is the founder of <a href="http://www.Merchant-Account-Quotes.com" target="_blank">http://www.Merchant-Account-Quotes.com</a> Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to <a href="http://www.merchant-account-quotes.com" target="_blank">http://www.merchant-account-quotes.com</a>
Merchant Accounts a Necessity for Both Traditional and Online Businesses
Merchant accounts that allow business owners to accept a variety of customer preferred payment methods have become commonplace in traditional business settings. Even small businesses, such as fast food providers, convenience stores and kiosk sized retailers have accepted the fact that allowing for multiple popular payment options is a wise decision. Far few consumers are carrying cash these days, and even those who are often prefer the safety and security of paying via credit card or check, if for no other reason than to have an accurate, detailed account of each purchase. Slowly but surely, online vendors are realizing this as well. The popularity of Paypal, a service which requires consumers to set up accounts similar to an online banking institution, kept many online businesses from opening merchant accounts for the benefit of their customers. Disadvantages to using the Paypal system were soon evident, however, as bad experiences with the system were publicized by both merchants and consumers. The stigma of a flawed system was not the only consideration for Internet shoppers and online businesses, however. Many consumers were unwilling to use a system that required setting up an account, memorizing yet another password and using a third party to transmit credit card or bank account information. The level of convenience available to consumers declined sharply as a result of having to navigate a completely new and often confusing separate web site in order to make a simple transaction. On the merchant side of the equation, the realization that Paypal offered no additional fraud protection and charged rates very similar to and often higher than merchant services providers has caused many to second guess it’s usefulness. Of particular concern is that there is simply no way to determine the amount of lost sales due to consumer hesitation aimed at opening a Paypal account. Consumers generally feel more comfortable using payment formats that mirror those used by their neighborhood retailers. When purchasing small items especially, many will not go through the trouble of spending an additional five to ten minutes online in order to purchase an item that only costs a few dollars. While the prices of these items may be small, the losses incurred by business owners who don’t offer a tried and true merchant account system can be substantial.
<p>To learn more about <a href="http://www.ensightmerchantservices.com/">Merchant Accounts</a> or to get your own visit http://www.ensightmerchantservices.com/</p>
Contactless Payments Merchant Accounts
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Article Title: Contactless Payments Merchant Accounts Author: Pat A. McDavitt
Word Count: 1021
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Contactless Payments Merchant Accounts
Consumers don t like carrying cash but are wary of
handing over a credit card because of the risk of
credit card fraud.
But what s the alternative?
Contactless payments.
The next generation of electronic payment, contactless payments don t require the customer to hand over their
card. The whole transaction is completed electronically,
and their card never leaves their hand. It s faster, easier
and much more secure.
But what about the merchant? Should cash-heavy
merchants rush into setting up a contactless payments merchant account? The answer is a resounding yes! Contactless payments merchant accounts deliver even greater benefits to merchants than it does to consumers. Read on to find out how.
What is Contactless Payment?
Contactless payments merchant accounts are the third generation of electronic payments. (The first generation
was the old plastic credit card, and the second was the magnetic stripe card.) Merchants with contactless
payments merchant accounts enable customers to use
their credit cards for purchases without ever handing their
card over. Contactless payments merchant account transactions use one of the following methods:
Contactless readers;
Retailer cards/fobs;
NFC (near field communication) enabled cell phone payment software; or
Back end processing/over the air payment software.
Customers love it!
Research shows that 86% of consumers want to carry
less cash, and most carry less than $20. (Survey was
conducted in 2005 by lpsos and commissioned by MasterCard). They re growing more comfortable using
credit, but they re still quite worried about security
issues when handing over their card. In fact, 91% of
likely users would feel more secure if they were allowed
to hold their payment card through their entire payment process.
And then there s ease of use, speed and convenience. Nationwide, almost 75% of respondents refuse to wait in
line longer than five minutes for a purchase of less than
$25, and more than 25% refuse to wait longer than just
two minutes.
So how does contactless payment compare in terms of speed? Very well, in fact It takes only 1/3 to of the
time of the average cash or traditional credit card
transaction:
CVS Pharmacy Average Cash Transaction = 33.7 seconds
Average Card Transaction (w/o Signature = 26.7 seconds
Average RF Transaction = 12.5 seconds
So contactless payments increase customers sense of security and decrease hated wait-times. It s no surprise,
then, that customers love it!
And the growth rate of contactless payments merchant accounts shows it. According to Brian Triplett, senior vice president for emerging product development-Visa USA,
The adoption rate is the fastest we ve seen for any new technology. I do expect we will continue to see significant growth; whether it s double or triple we ll have to wait and see.
What are the Benefits for Merchants?
The most obvious benefit for merchants in having
contactless payments merchant accounts is that
consumers love it, so they ll use it more often and spend more.
But the benefits don t end there. Contactless payments merchant accounts also:
Leverage Top of Wallet convenience - Like traditional credit cards (and unlike cash), the customer s card is always in their wallet, which means they re more likely to spend, simply because they can.
Deliver increased merchant differentiation - Particularly in the early days of adoption, merchants with contactless payments merchant accounts will stand out from the crowd. They ll offer consumers a new and exciting way to pay for goods and services.
Are cheaper to operate - Transactions clear as a card-present, magnetic stripe-read transaction, but card readers are a fraction of the cost of a new POS terminal.
Increase efficiency - Businesses with contactless payments merchant accounts enjoy much more rapid check-out times during peak hours.
Are easy to install and upgrade - The hardware for contactless payments merchant accounts is all plug-n-play.
Increase customer loyalty - Studies show that customers return to the participating merchant s location on an average of two times a month.
Leverage a general consumer movement away from cash (20%) - Even customers who don t specifically love contactless payment probably DO specifically dislike cash. By offering them an alternative, businesses increase the likelihood of a sale.
Put simply, businesses with contactless payments merchant accounts enjoy increased transaction volume (average 45%) and increased ticket size (average 20%).
What Merchants Benefit Most from Contactless Payments Merchant Accounts?
Contactless payments merchant accounts are ideal
for cash-heavy merchants. Target industries include:
QSR
Petroleum & C-store
Book Stores
Dry Cleaners
Video Rental
Pharmacy
Grocery
Parking
Movie Theaters
Stadiums & Arenas
Theme Parks
Events
Cafeterias (Schools & Corporate)
Taxis
Transit
Vending
News Stands
Parking Garages
Conclusion ” The Future of
Contactless Payments Merchant Accounts?
Contactless payment offers significant bottom-line
benefits to merchants. It s the next generation payment system that s faster, easier, more secure and more convenient for consumers, which means it facilitates
more sales (greater volume transaction) of greater value
(ticket lift) for merchants. It s a win-win situation!
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C. J. & Tuck Consulting, LLC owns and operates http://www.cashflownow.org. We specialize in Electronic Payment Processing Services and offer low cost Contactless Payments Merchant Accounts. For more information, contact: Pat A. McDavitt, Sole Manager of C. J. & Tuck Consulting, LLC Go to: http://www.cashflownow.org to visit my web site. Go to: http://www.cashflownow.org to request a free report about me. Email: pat@cashflownow.org Telephone: (512) 837-1358 Fax: (512) 837-0345
How To Accept Credit Cards Without A Merchant Account
To increase sales on your website, you must accept credit cards. To process credit cards, you could apply for a merchant account through your bank or other financial institution.
Sometimes, though, you would be further ahead to use the services of a credit card processor. This is especially true when you are first starting out and have more limited resources. In this way, you may process credit card transactions without the high front-end costs and requirements of a merchant account.
Here, then, are just a few ways of accepting credit cards without a merchant account. I personally use all of these vendors and can recommend them wholeheartedly.
1. Clickbank
If your product is downloadable (such as electronic books or software), you might consider ClickBank.com . For a $49.95 initial fee, you can process credit cards and on-line cheques for $1.00 per transaction plus 7.5% of sales.
You receive additional exposure through free listing on their website and through the search facilities of other websites, such as CBMall.com.
As an added bonus, you have your own built-in affiliate program. You decide what commission (from 1% to 75%) you would like to pay your affiliates.
2. PayPal
PayPal.com has no initial fees. For just 2.9% of sales and $ .30 per transaction (and sometimes less), you can receive money from anyone.
Also, you can pay others by credit card or chequing account without supplying your personal credit information to the payee. PayPal can be used to collect money from your auctions, website sales, or even from friends or clients.
3. PaySystems
In the original edition of this article, I recommended PaySystems.com (also known as MyPaySystems.com). This is what I wrote about them:
“PaySystems.com can handle either intangible (downloadable) or tangible (shippable) products. For an initial fee of $49.00, you can accept all major credit cards as well as online checks. Fees are just 3.95% of sales and $1.00 per transaction. Alternatively, you may pay 5.5% of sales and $ .35 per transaction.”
“For this, you receive shopping cart, integration with third-party affiliate programs (such as ClixGalore.com), fraud screening, multi-currency transactions, toll-free support, marketing tools, and more.”
Unfortunately, PaySystems.com has discontinued their “Internet Billing Account” for those outside the United States.
4. 2CheckOut
2CheckOut.com can handle both intangible and tangible products. For an initial fee of $49.00, you can accept all major credit cards as well as online checks. Fees are just 5.5% of sales and $0.45 per transaction.
For this, you receive shopping cart, fraud detection, integration with third-party affiliate programs, multi-currency transactions, free on-line support, and more.
Incidentally, 2CheckOut.com has the same policy as ClickBank.com does with regard to sales taxes. Both companies take the position that you are selling your product to them and that they resell it to the final consumer. Thus, they claim that you are not subject to sales taxes on those sales.
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. To learn more about accepting credit cards and other profitable Work at Home Small Business Ideas, visit <a href="http://www.yenommarketinginc.com/creditcards.html" target="_blank">http://www.yenommarketinginc.com/creditcards.html</a>