A Guide To Receiving Online Payments
By Jakob Jelling
The World Wide Web has become an integral part of our lives. It has penetrated so deeply into our daily living that people now turn towards the World Wide Web for buying clothes, books, electronic equipment etc. For an online seller, then, it becomes imperative to find means to make an online transaction as easy and painless as possible. Since most people prefer to use their credit cards while shopping, webmasters need to integrate this service into their online shopping websites. An answer to your online payment needs can be a payment processing company.
Most online shopping sites enter into a business alliance with payment processing companies. However, you should diligently comb the market for the best deal before you sign up with a service. Make sure that they are not overcharging you. Also, check out their reputation in the market – are they known for their fair minded financial and business transactions? This kind of a company operates through two types of services – one id intended for companies with merchant accounts with their banks and the other for companies who do not possess this kind of a bank account. The first kind of service is generally used by fairly large financial institutions and organizations dealing in independent sales.
The advantage of having a merchant account is that you can receive payments within a few days of the transaction. However, if you do not have a merchant bank account, the payment processing company receives the payment on your behalf initially. The mode of operation is that the buyer will fulfill the transaction not on the seller’s website, but on the site of the payment processing company. (If you choose the former service, the processing company will help you enable your website to receive payments from the buyer directly.) Also, it is only a few times in a month that the processing company will forward you the payments.
There are a couple of steps which need to be completed before your website can host the facility of receiving payments through a credit card. Firstly, you will have to host an order form on your website. You then need to establish a gateway. This kind of service transfers the customer’s payment and credit card information to the payment processing company. You would then need to establish the facility of a shopping cart on your website. If your site already hosts this function, the payment processing company will surely be able to integrate its services with it.
About The Author
Jakob Jelling is the founder of http://www.sitetube.com.
Visit his website for the latest on planning, building, promoting and maintaining websites.
Article Source: http://EzineArticles.com/?expert=Jakob_Jelling
http://EzineArticles.com/?A-Guide-To-Receiving-Online-Payments&id=230304
Monday, May 14, 2007
Saturday, May 12, 2007
Online Payment Processing Equipments for Busuness
Direct Merchant Credit Card Applications
By Eric Morris
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Direct merchant credit card applications are somewhat complex in nature. It is not like setting up a consumer credit card application. It is entirely different from opening a business checking account. Direct merchant credit card is a special banking account used for handling the income from credit card deals. The merchant account issuer confirms the credit card, processes the transaction, and deposits the balance into your account normally within 24 to 48 hours.
In general, there are two ways to apply for a credit card - a paper copy application and an online credit card application. Online application is the easiest and fastest way to get a credit card. While applying for a credit card online, it is necessary to check whether the website offers a safe means to protect your private details.
There are three types of merchant account fees. The first is an initial setup fee required to approve and set up your account. The second is the percentage fee which is a proportion of each credit card transaction depending on your total volume of sales. It is inversely proportional to the sales volume. The last one is a monthly service fee, which includes the cost of any credit card processing equipment, software or services. These fees differ from credit card company to company.
Credit Card Applications provides detailed information on Credit Card Applications, Online Credit Card Applications, Student Credit Card Applications, Instant Credit Card Applications and more. Credit Card Applications is affiliated with Free Credit Card Offers.
Article Source: http://EzineArticles.com/?expert=Eric_Morris
http://EzineArticles.com/?Direct-Merchant-Credit-Card-Applications&id=353163
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
By Eric Morris
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Direct merchant credit card applications are somewhat complex in nature. It is not like setting up a consumer credit card application. It is entirely different from opening a business checking account. Direct merchant credit card is a special banking account used for handling the income from credit card deals. The merchant account issuer confirms the credit card, processes the transaction, and deposits the balance into your account normally within 24 to 48 hours.
In general, there are two ways to apply for a credit card - a paper copy application and an online credit card application. Online application is the easiest and fastest way to get a credit card. While applying for a credit card online, it is necessary to check whether the website offers a safe means to protect your private details.
There are three types of merchant account fees. The first is an initial setup fee required to approve and set up your account. The second is the percentage fee which is a proportion of each credit card transaction depending on your total volume of sales. It is inversely proportional to the sales volume. The last one is a monthly service fee, which includes the cost of any credit card processing equipment, software or services. These fees differ from credit card company to company.
Credit Card Applications provides detailed information on Credit Card Applications, Online Credit Card Applications, Student Credit Card Applications, Instant Credit Card Applications and more. Credit Card Applications is affiliated with Free Credit Card Offers.
Article Source: http://EzineArticles.com/?expert=Eric_Morris
http://EzineArticles.com/?Direct-Merchant-Credit-Card-Applications&id=353163
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Friday, May 11, 2007
Online Payment Processing Equipments for Busuness
Direct Merchant Credit Card Applications
By Eric Morris
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Direct merchant credit card applications are somewhat complex in nature. It is not like setting up a consumer credit card application. It is entirely different from opening a business checking account. Direct merchant credit card is a special banking account used for handling the income from credit card deals. The merchant account issuer confirms the credit card, processes the transaction, and deposits the balance into your account normally within 24 to 48 hours.
In general, there are two ways to apply for a credit card - a paper copy application and an online credit card application. Online application is the easiest and fastest way to get a credit card. While applying for a credit card online, it is necessary to check whether the website offers a safe means to protect your private details.
There are three types of merchant account fees. The first is an initial setup fee required to approve and set up your account. The second is the percentage fee which is a proportion of each credit card transaction depending on your total volume of sales. It is inversely proportional to the sales volume. The last one is a monthly service fee, which includes the cost of any credit card processing equipment, software or services. These fees differ from credit card company to company.
Credit Card Applications provides detailed information on Credit Card Applications, Online Credit Card Applications, Student Credit Card Applications, Instant Credit Card Applications and more. Credit Card Applications is affiliated with Free Credit Card Offers.
Article Source: http://EzineArticles.com/?expert=Eric_Morris
http://EzineArticles.com/?Direct-Merchant-Credit-Card-Applications&id=353163
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
By Eric Morris
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Direct merchant credit card applications are somewhat complex in nature. It is not like setting up a consumer credit card application. It is entirely different from opening a business checking account. Direct merchant credit card is a special banking account used for handling the income from credit card deals. The merchant account issuer confirms the credit card, processes the transaction, and deposits the balance into your account normally within 24 to 48 hours.
In general, there are two ways to apply for a credit card - a paper copy application and an online credit card application. Online application is the easiest and fastest way to get a credit card. While applying for a credit card online, it is necessary to check whether the website offers a safe means to protect your private details.
There are three types of merchant account fees. The first is an initial setup fee required to approve and set up your account. The second is the percentage fee which is a proportion of each credit card transaction depending on your total volume of sales. It is inversely proportional to the sales volume. The last one is a monthly service fee, which includes the cost of any credit card processing equipment, software or services. These fees differ from credit card company to company.
Credit Card Applications provides detailed information on Credit Card Applications, Online Credit Card Applications, Student Credit Card Applications, Instant Credit Card Applications and more. Credit Card Applications is affiliated with Free Credit Card Offers.
Article Source: http://EzineArticles.com/?expert=Eric_Morris
http://EzineArticles.com/?Direct-Merchant-Credit-Card-Applications&id=353163
For processing any online order, a business website should provide an online payment choice. The most common form of payment is through merchant credit card. Marketing studies indicate that if a site is not made to accept credit cards, it would lose 60-80% of its potential orders. A direct merchant credit card account is one of the best ways for any business to boost sales.
Thursday, May 10, 2007
Online Payment Processing Equipments for Busuness
Boosting Your Business With A Merchant Account
By Jakob Jelling
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people decide to use a credit card and spend more when doing so, it only makes sense to be able to accept credit card payments.
The first step to being able to accept credit card payments is getting a merchant account. A merchant account is a special type of bank account that is able to receive payments from credit card purchases. Along with your account you will also need a hardware or software solution to actually process the payments, but this doesn't have to be supplied by the company providing your merchant account.
For online credit card processing there is one extra step, you also need a payment gateway. A payment gateway is a company that provides real time authorization of online transactions. When looking at gateways make sure that they are compatible with your site's software and your financial institution. You may wish to research your gateway and financial institution options before signing up for any services.
When researching your merchant account providers you may be surprised at the number of options available to you. While there are a lot of options, selecting the best provider for you is easy to do by knowing a little about what each company offers and how much they charge for their services.
The first step should always be to seek a mentor. Do you know someone who currently is conducting a similar business? If so ask them who provides their merchant account and what their thoughts are on that provider as well as others that they may have tried. After asking around search the Internet for people's opinions on merchant accounts. While opinions are not a good reason to base a decision, their accounting of the service they received and the ease of company to work with are valuable information to know.
After determining which companies will be the easiest to work with you can begin to narrow down your options by examining the services offered and history. A good merchant account provider should have extensive experience working with growing businesses. This experience will allow your merchant account provider to be able to set up your account faster, will ensure that they can expand their services as your company grows and requires more options and most importantly, has the experience required to actively combat fraud and charge backs.
Of course nothing is free, and your merchant account is no exception. The amount that you must pay will vary from company to company but the basics of your bill should be the same. If the company you are considering is charging more you may wish to seek another merchant account provider.
The biggest single cost is the set up costs. Your set up costs include your application fees, equipment costs and deposits. These fees tend to average about $275 but vary depending upon the options you have selected. For example, your start up costs will be much higher if you have decided to purchase your credit card processing equipment instead of leasing it. This may be an economically viable solution after adding up the amount of the deposit that will be required if you lease the equipment and the leasing fees for a year.
Another thing to keep in mind is the amount that your merchant account provider will be charging for each completed transaction. On average you will be charged 2.5% of the sale and there may be a few more annual fees. Be sure to very closely examine that amount you will be paying and what additional fees you may have to pay as each company will be different and the difference may save you a lot of money each year.
Starting and having a business grow is a very exciting time for any business owner. As you expand into new markets, such as online sales, you will find a plethora of new options and opportunities. After deciding to expand be sure to carefully consider your options in order to make your next step as smooth and cost effective as possible.
About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
Article Source: http://EzineArticles.com/?expert=Jakob_Jelling
http://EzineArticles.com/?Boosting-Your-Business-With-A-Merchant-Account&id=227812
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people dec...
By Jakob Jelling
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people decide to use a credit card and spend more when doing so, it only makes sense to be able to accept credit card payments.
The first step to being able to accept credit card payments is getting a merchant account. A merchant account is a special type of bank account that is able to receive payments from credit card purchases. Along with your account you will also need a hardware or software solution to actually process the payments, but this doesn't have to be supplied by the company providing your merchant account.
For online credit card processing there is one extra step, you also need a payment gateway. A payment gateway is a company that provides real time authorization of online transactions. When looking at gateways make sure that they are compatible with your site's software and your financial institution. You may wish to research your gateway and financial institution options before signing up for any services.
When researching your merchant account providers you may be surprised at the number of options available to you. While there are a lot of options, selecting the best provider for you is easy to do by knowing a little about what each company offers and how much they charge for their services.
The first step should always be to seek a mentor. Do you know someone who currently is conducting a similar business? If so ask them who provides their merchant account and what their thoughts are on that provider as well as others that they may have tried. After asking around search the Internet for people's opinions on merchant accounts. While opinions are not a good reason to base a decision, their accounting of the service they received and the ease of company to work with are valuable information to know.
After determining which companies will be the easiest to work with you can begin to narrow down your options by examining the services offered and history. A good merchant account provider should have extensive experience working with growing businesses. This experience will allow your merchant account provider to be able to set up your account faster, will ensure that they can expand their services as your company grows and requires more options and most importantly, has the experience required to actively combat fraud and charge backs.
Of course nothing is free, and your merchant account is no exception. The amount that you must pay will vary from company to company but the basics of your bill should be the same. If the company you are considering is charging more you may wish to seek another merchant account provider.
The biggest single cost is the set up costs. Your set up costs include your application fees, equipment costs and deposits. These fees tend to average about $275 but vary depending upon the options you have selected. For example, your start up costs will be much higher if you have decided to purchase your credit card processing equipment instead of leasing it. This may be an economically viable solution after adding up the amount of the deposit that will be required if you lease the equipment and the leasing fees for a year.
Another thing to keep in mind is the amount that your merchant account provider will be charging for each completed transaction. On average you will be charged 2.5% of the sale and there may be a few more annual fees. Be sure to very closely examine that amount you will be paying and what additional fees you may have to pay as each company will be different and the difference may save you a lot of money each year.
Starting and having a business grow is a very exciting time for any business owner. As you expand into new markets, such as online sales, you will find a plethora of new options and opportunities. After deciding to expand be sure to carefully consider your options in order to make your next step as smooth and cost effective as possible.
About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
Article Source: http://EzineArticles.com/?expert=Jakob_Jelling
http://EzineArticles.com/?Boosting-Your-Business-With-A-Merchant-Account&id=227812
The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people dec...
Thursday, May 3, 2007
Online Payment Processing Equipments For Business
Demystifying the Process of Accepting Credit Cards as an Attorney
By Chris Rempel
Accepting credit cards can be a very intimidating option to consider as a sole practitioner or small-firm attorney - if you deal with collecting retainers from your clients...
The word “merchant service” has developed an almost ominous connotation among solo professionals – and for good reason. Most people associate the phrase with ludicrous fees, minimum transaction volumes, equipment rentals and restrictive contracts. And all too often, that notion is entirely justified.
In fact, several professionals simply choose to forget about accepting credit cards altogether - because it’s just “one less hassle” to deal with. Unfortunately, this can actually cost them quite a bit of business, whether they realize it or not. It’s been continually proven that providing your customers the option of paying with credit will increase sales (in this case, client volume) in practically every industry.
Furthermore, the main advantage for an attorney to accept credit cards wouldn’t so much be an increase in client volume as it would eliminate waiting for checks in the mail – not to mention having someone make a bank run to get them deposited. And credit card payments don’t “bounce” either!
The truth is that while there actually are some very affordable (and flexible) services available to solo professionals, they’re also very few and far between. And in most cases, they’re not easy to recognize.
So let’s explore some of the terms and terminology of the merchant industry so as to “de-mystify” the process of choosing a merchant company that will effectively suit your practice…
·Statement Fees: Most merchant account providers will charge you to simply receive your billing statement. This normally costs $10.00 per month. This is, for the most part, a “pointless” fee for the purpose of generating additional revenue for the merchant company as it much more than covers the cost of distributing a statement – although, not all companies have a statement fee.
·Monthly Minimums: Several programs include a “minimum”, which is not a minimum amount of sales volume, but rather it’s a minimum charge in regards to transaction fees. Normally, this is $25.00 per month. This does not mean that a $25.00 sale will waive the minimum.
·Transaction Fees: This is a flat-fee per transaction through your merchant account. This will typically be around $0.25 per transaction – although different credit cards will themselves charge a transaction fee as well, such as American Express and Discover.
·The Annual Fee: The majority of merchant services will employ an annual fee, ranging from $45.00 to $95.00. Again, this is simply a premium for using the service.
·Program Fees: Also called the “monthly fee”, this is simply a monthly premium ranging from $5.00 to $25.00 per month to accept credit cards via the merchant service in question.
·Discount Rates: Also known as the “flat rate”, this is a percentage of every sale that is automatically commissioned to the merchant service, and split between them and their processor (if they’re a third party). This will range from 1.95% to 5.95%, depending on the nature of the service.
·The Cancellation Fee: The majority of merchant services do utilize a “minimum term of duration” within their account contract. To cancel the contract before it’s term has expired will cost anywhere from $95.00 to $250.00, sometimes more.
·Equipment Lease or Purchase: In general, you’re required to either lease or buy the (expensive) equipment needed to process credit card “swipes”. Leasing equipment can range from $29.00 to $79.00 per month, with an average term of 36 – 48 months. These leases cannot be cancelled. In addition, you will be paying the relevant state tax on those payments - and to top it off, most companies will charge an extra $3.00 per month or so for a “Loss and Destruction” waiver. At the end of the lease, you must either return the equipment in good condition, or you must purchase the equipment for at its current market value. The purchase price will be something like 15% of the aggregate lease payments (for a 36-month term).
As you can clearly see, all of this can add up to a substantial amount of money - and if you do default on the equipment lease, it will show up on your credit report.
Accepting credit cards doesn’t seem too exciting at this point, does it?
However, as I had mentioned previously, there are some affordable options within the merchant industry that actually cater directly to solo professionals and part-time business owners.
For example, did you know that you can accept credit cards – without any equipment at all – by simply using your cell phone (or blackberry)?
Not only is this type of system totally mobile, most of these services are uniquely affordable. One in particular, “Accept by Phone”, costs only $5.00 a month with a discount rate of 3.95% on each sale. Such services are able to bypass all the other fees because of the way that transactions are processed – and the automated call-in system literally allows the vendor to authorize and process the payment in real time within a matter of seconds.
Additionally, this service does not have a minimum term – or a cancellation fee.
Glenn Garnes, attorney and webmaster of "Lawyer Lounge", recently reviewed the mentioned service:
“I can't tell you how many times I've been on the road, at the courthouse, or out of the office when someone wanted to make a payment, and I delayed my ability to accept it by having to ask them to send a check. I also can't tell you how many times that check was late or never came in the first place.
”If you bill for your fees, or if you have a collections practice, this [type of system] is the perfect way to increase your cash flow conveniently, and cost effectively, not to mention how it improves your profile in the eyes of your client.”
Now, even if you would be processing most of your payments at the office – and if you needed equipment – there are also a variety of cost-effective services that suit that need as well. Just make sure that you take a very close look at the terms and conditions of the service in question.
Remember that the most crucial element of any merchant service is the term (duration) of the contract. They may be offering free applications, low fees and so on, but make sure that it’s not because they plan on locking you into a two-year contract.
Unfortunately, this is how most merchant companies make their money.
However, you’re no longer at the mercy of the merchant industry, because you’ve just taken a “behind the scenes” look at how the whole system really works. You can now investigate accepting credit cards from your clients with confidence, knowing that it truly is possible to make life easier – not harder – by allowing your clients to pay with credit.
Especially those that are “cash-strapped”.
It’s simply a matter of finding a service that caters directly to your needs as an attorney.
Chris Rempel is the marketing director of Accept by Phone - the only merchant account that is built specifically for professionals like attorneys.
Find out how you can accept credit cards from anywhere for only $5.00 a month at http://www.accept-by-phone.com/attorneys.html
Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Demystifying-the-Process-of-Accepting-Credit-Cards-as-an-Attorney&id=209117
By Chris Rempel
Accepting credit cards can be a very intimidating option to consider as a sole practitioner or small-firm attorney - if you deal with collecting retainers from your clients...
The word “merchant service” has developed an almost ominous connotation among solo professionals – and for good reason. Most people associate the phrase with ludicrous fees, minimum transaction volumes, equipment rentals and restrictive contracts. And all too often, that notion is entirely justified.
In fact, several professionals simply choose to forget about accepting credit cards altogether - because it’s just “one less hassle” to deal with. Unfortunately, this can actually cost them quite a bit of business, whether they realize it or not. It’s been continually proven that providing your customers the option of paying with credit will increase sales (in this case, client volume) in practically every industry.
Furthermore, the main advantage for an attorney to accept credit cards wouldn’t so much be an increase in client volume as it would eliminate waiting for checks in the mail – not to mention having someone make a bank run to get them deposited. And credit card payments don’t “bounce” either!
The truth is that while there actually are some very affordable (and flexible) services available to solo professionals, they’re also very few and far between. And in most cases, they’re not easy to recognize.
So let’s explore some of the terms and terminology of the merchant industry so as to “de-mystify” the process of choosing a merchant company that will effectively suit your practice…
·Statement Fees: Most merchant account providers will charge you to simply receive your billing statement. This normally costs $10.00 per month. This is, for the most part, a “pointless” fee for the purpose of generating additional revenue for the merchant company as it much more than covers the cost of distributing a statement – although, not all companies have a statement fee.
·Monthly Minimums: Several programs include a “minimum”, which is not a minimum amount of sales volume, but rather it’s a minimum charge in regards to transaction fees. Normally, this is $25.00 per month. This does not mean that a $25.00 sale will waive the minimum.
·Transaction Fees: This is a flat-fee per transaction through your merchant account. This will typically be around $0.25 per transaction – although different credit cards will themselves charge a transaction fee as well, such as American Express and Discover.
·The Annual Fee: The majority of merchant services will employ an annual fee, ranging from $45.00 to $95.00. Again, this is simply a premium for using the service.
·Program Fees: Also called the “monthly fee”, this is simply a monthly premium ranging from $5.00 to $25.00 per month to accept credit cards via the merchant service in question.
·Discount Rates: Also known as the “flat rate”, this is a percentage of every sale that is automatically commissioned to the merchant service, and split between them and their processor (if they’re a third party). This will range from 1.95% to 5.95%, depending on the nature of the service.
·The Cancellation Fee: The majority of merchant services do utilize a “minimum term of duration” within their account contract. To cancel the contract before it’s term has expired will cost anywhere from $95.00 to $250.00, sometimes more.
·Equipment Lease or Purchase: In general, you’re required to either lease or buy the (expensive) equipment needed to process credit card “swipes”. Leasing equipment can range from $29.00 to $79.00 per month, with an average term of 36 – 48 months. These leases cannot be cancelled. In addition, you will be paying the relevant state tax on those payments - and to top it off, most companies will charge an extra $3.00 per month or so for a “Loss and Destruction” waiver. At the end of the lease, you must either return the equipment in good condition, or you must purchase the equipment for at its current market value. The purchase price will be something like 15% of the aggregate lease payments (for a 36-month term).
As you can clearly see, all of this can add up to a substantial amount of money - and if you do default on the equipment lease, it will show up on your credit report.
Accepting credit cards doesn’t seem too exciting at this point, does it?
However, as I had mentioned previously, there are some affordable options within the merchant industry that actually cater directly to solo professionals and part-time business owners.
For example, did you know that you can accept credit cards – without any equipment at all – by simply using your cell phone (or blackberry)?
Not only is this type of system totally mobile, most of these services are uniquely affordable. One in particular, “Accept by Phone”, costs only $5.00 a month with a discount rate of 3.95% on each sale. Such services are able to bypass all the other fees because of the way that transactions are processed – and the automated call-in system literally allows the vendor to authorize and process the payment in real time within a matter of seconds.
Additionally, this service does not have a minimum term – or a cancellation fee.
Glenn Garnes, attorney and webmaster of "Lawyer Lounge", recently reviewed the mentioned service:
“I can't tell you how many times I've been on the road, at the courthouse, or out of the office when someone wanted to make a payment, and I delayed my ability to accept it by having to ask them to send a check. I also can't tell you how many times that check was late or never came in the first place.
”If you bill for your fees, or if you have a collections practice, this [type of system] is the perfect way to increase your cash flow conveniently, and cost effectively, not to mention how it improves your profile in the eyes of your client.”
Now, even if you would be processing most of your payments at the office – and if you needed equipment – there are also a variety of cost-effective services that suit that need as well. Just make sure that you take a very close look at the terms and conditions of the service in question.
Remember that the most crucial element of any merchant service is the term (duration) of the contract. They may be offering free applications, low fees and so on, but make sure that it’s not because they plan on locking you into a two-year contract.
Unfortunately, this is how most merchant companies make their money.
However, you’re no longer at the mercy of the merchant industry, because you’ve just taken a “behind the scenes” look at how the whole system really works. You can now investigate accepting credit cards from your clients with confidence, knowing that it truly is possible to make life easier – not harder – by allowing your clients to pay with credit.
Especially those that are “cash-strapped”.
It’s simply a matter of finding a service that caters directly to your needs as an attorney.
Chris Rempel is the marketing director of Accept by Phone - the only merchant account that is built specifically for professionals like attorneys.
Find out how you can accept credit cards from anywhere for only $5.00 a month at http://www.accept-by-phone.com/attorneys.html
Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Demystifying-the-Process-of-Accepting-Credit-Cards-as-an-Attorney&id=209117
Wednesday, May 2, 2007
Online Payment Processing Equipments For Business
Merchant Account Fees - Are They Worth It?
By Debbie Dragon
Merchant account services are the services that allow you to accept credit cards as payments, both online and off, and help you handle the credit card transaction processing. Without merchant accounts, your customers would have to pay with cash or check- and believe it or not, most customers will spend more if they can swipe their card and worry about the bill later.
The Cost of Accepting Credit Cards
Merchant accounts can be costly. There are numerous providers of merchant accounts that are reputable and offer good value for their service- but there are even more providers of merchant accounts that charge excessive fees and have hidden expenses that you were not aware of when agreeing to use their service to accept credit cards online.
Fees range from per transaction fees (usually a percentage or a few cents on each card processed) to monthly or annual maintenance fees that can range from a few dollars to a few hundred dollars.
Online Businesses Need Merchant Accounts
Online merchant accounts are crucial to having a successful online business venture. Consider it from the eyes of a customer: if you were on a website, looking to buy a widget, would you want to take the time to mail a check or money order, or do you plan on making a purchase right then with your debit or credit card? Most people don’t want to take the time to write and mail a check or money order for an online purchase- not having the ability to accept credit or debit cards will severely hurt your business as an online merchant.
As the merchant, credit and debit cards make your life easier, as well. You get your money much faster than waiting for a customer to write and mail a check or money order; and you don’t have to wait for the payment to clear the bank before you can mail out their purchase. Credit card payments offer you payment within a day or two of the customer putting in the card details.
Deciding if a Merchant Account is Worth the Fees
So are the fees that are paid for merchant accounts worth the value the accounts provide your business? It all depends on the type of business you are operating and the volume of sales you process on a given month, as well as the merchant account provider you choose to go with. Merchant account providers are not a one-size-fits-all solution for every business, and you really need to do a little research before selecting a provider. Consider the per transaction fee, the application fee, monthly maintenance fee, set up fee, and any annual membership charges you must pay. Do you have to purchase or lease any special equipment? Is the software for processing online credit card payments included in the service, or is that an additional fee?
Once you have that information for a few different merchant account providers, you can determine what you believe your credit card sales will be each month. This may be difficult to do, but make your best estimate based on your current level of sales and the idea that people typically spend more with a credit card than they do with cash.
Determine what fees you’ll pay on your estimated amount of sales each month, and see if it makes sense to pay for a merchant account. As mentioned previously, if your plan is to operate an online business- you really need a way to accept credit card payments online in order to become successful.
This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.
Article Source: http://EzineArticles.com/?expert=Debbie_Dragon
http://EzineArticles.com/?Merchant-Account-Fees---Are-They-Worth-It?&id=523784
By Debbie Dragon
Merchant account services are the services that allow you to accept credit cards as payments, both online and off, and help you handle the credit card transaction processing. Without merchant accounts, your customers would have to pay with cash or check- and believe it or not, most customers will spend more if they can swipe their card and worry about the bill later.
The Cost of Accepting Credit Cards
Merchant accounts can be costly. There are numerous providers of merchant accounts that are reputable and offer good value for their service- but there are even more providers of merchant accounts that charge excessive fees and have hidden expenses that you were not aware of when agreeing to use their service to accept credit cards online.
Fees range from per transaction fees (usually a percentage or a few cents on each card processed) to monthly or annual maintenance fees that can range from a few dollars to a few hundred dollars.
Online Businesses Need Merchant Accounts
Online merchant accounts are crucial to having a successful online business venture. Consider it from the eyes of a customer: if you were on a website, looking to buy a widget, would you want to take the time to mail a check or money order, or do you plan on making a purchase right then with your debit or credit card? Most people don’t want to take the time to write and mail a check or money order for an online purchase- not having the ability to accept credit or debit cards will severely hurt your business as an online merchant.
As the merchant, credit and debit cards make your life easier, as well. You get your money much faster than waiting for a customer to write and mail a check or money order; and you don’t have to wait for the payment to clear the bank before you can mail out their purchase. Credit card payments offer you payment within a day or two of the customer putting in the card details.
Deciding if a Merchant Account is Worth the Fees
So are the fees that are paid for merchant accounts worth the value the accounts provide your business? It all depends on the type of business you are operating and the volume of sales you process on a given month, as well as the merchant account provider you choose to go with. Merchant account providers are not a one-size-fits-all solution for every business, and you really need to do a little research before selecting a provider. Consider the per transaction fee, the application fee, monthly maintenance fee, set up fee, and any annual membership charges you must pay. Do you have to purchase or lease any special equipment? Is the software for processing online credit card payments included in the service, or is that an additional fee?
Once you have that information for a few different merchant account providers, you can determine what you believe your credit card sales will be each month. This may be difficult to do, but make your best estimate based on your current level of sales and the idea that people typically spend more with a credit card than they do with cash.
Determine what fees you’ll pay on your estimated amount of sales each month, and see if it makes sense to pay for a merchant account. As mentioned previously, if your plan is to operate an online business- you really need a way to accept credit card payments online in order to become successful.
This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.
Article Source: http://EzineArticles.com/?expert=Debbie_Dragon
http://EzineArticles.com/?Merchant-Account-Fees---Are-They-Worth-It?&id=523784
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