7 Ways a Merchant Account Can Improve Your Small Business

Posted on April 30, 2012 by Patrick Hare

Lots of small businesses first became aware of merchant accounts when they set up credit card processing services. Over time, merchant account services have evolved into complex financial vehicles with multiple capabilities. For the average business, however, merchant accounts can be used to improve revenue and cut overall costs. Better yet, today’s merchant service offerings can put your shop or store on the same footing as large corporations, and in some cases you may notice that they are using ...Read More

“Free Credit Card Processing” and Terminals May Cost You

Posted on April 25, 2012 by Patrick Hare

Quite a few companies offer “free credit card processing” as a service or a bundled premium on ecommerce shopping carts, turn-key store setups, and accounting software. Unfortunately, the concept of free credit card machines and processing is a misnomer. Even if a merchant services company was to offer processing services at-cost, transaction fees from Visa, MasterCard, Discover, and AMEX would still apply. In reality, credit card processing and equipment fees are built into the cost structure ...Read More

Merchant Account Comparison Tips

Posted on April 24, 2012 by Patrick Hare

Get an Apples to Apples comparison of merchant services for the best results!Anyone can compare merchant accounts and show an advantage when it comes to individual rates or fees, but will you save on credit card processing when you switch merchant accounts to a new processor? If you are just comparing rates on credit card processing, are you being quoted an artificially low rate or one that is not applicable to most of the cards you process? If you are looking to save on your whole merchant account, ...Read More

Complaints About Credit Card Processing

Posted on April 23, 2012 by Patrick Hare

Merchants often have a lot of complaints about credit card processing. Like any other financial field, merchant services involve products that can be fairly complex, and prices may be based on a company’s credit rating as well as the business type’s risk of chargebacks. When you consider that any given credit card processing configuration is individually customized, there are quite a few areas where a merchant may have a higher expectation of service. Here are a few common areas where merchants ...Read More

Credit Card Processing for Small Business

Posted on April 20, 2012 by Patrick Hare

If your small business is not accepting credit cards, then you may be missing a major opportunity to expand your revenue without any other investment. Debit and credit card payments have become so common that they are expected to overtake cash as a form of payment over the next few years. Other small and medium sized businesses also prefer to pay by way of credit cards because their owners may collect rewards points and miles with major purchases. Therefore, a personal or business customer may choose ...Read More

Best Merchant Account – How to Get Preferred Rates and Low Fees

Posted on April 19, 2012 by Patrick Hare

How do you get the best merchant account setup possible? It pays to do your homework and shop around. People looking for the best credit card processing rates are going to get a lot of quotes that appear to offer the lowest fees, but after a month or two they may notice that they are paying more money than expected. Capital Processing Network has some helpful hints about how to get the best deal on your merchant account: Don’t just look at rates - consider the combined costs. Most merchants ...Read More

Capital Processing Network Scam Prevention Tips

Posted on April 18, 2012 by Patrick Hare

One of the unpleasant aspects of owning a small business that takes credit cards is that fraud happens. Business owners with merchant accounts have to take care to avoid scams and fraudulent charges, especially since they are responsible for the expenses associated with a chargeback. In addition, the cardholder may be protected from unauthorized transactions, but the merchant must cover the cost of stolen goods and services. Furthermore, a practice known as “friendly fraud” may happen when a ...Read More

Used and Refurbished Credit Card Machines – Are They A Good Idea?

Posted on April 16, 2012 by Patrick Hare

Should you buy a used or refurbished credit card terminal? In many instances merchants will seek to buy credit card machines on eBay or Craigslist instead of investing in a new model. In other cases websites will sell refurbished models for a lower price than a new machine, which is ordinarily fairly expensive. The best credit card terminals are designed to operate for years in heavy-duty environments like restaurant kitchens, checkout lines, shops, and warehouses. Terminals have to stand up to temperature ...Read More

Flat Rate Credit Card Processing – Not Necessarily A Money Saver

Posted on April 13, 2012 by Patrick Hare

Lots of merchants would like to see a flat rate for credit card processing, and there are a few services out there that are happy to accommodate. Unfortunately, flat rate merchant account providers probably aren’t going to get you the best deal on credit card processing. Like any business, fixed rate servicers need to make a profit. They will either make their money off of the margin between your quoted rate and the actual processing cost, or they will have hidden fees in addition to the processing ...Read More

MOTO Credit Card Processing – Save on MOTO Merchant Accounts

Posted on April 12, 2012 by Patrick Hare

The term MOTO in MOTO Merchant Account stands for “mail order, telephone order” and usually indicates a company that primarily accepts credit cards over the phone or on mailed-in order forms. Prior to the advent of the Internet, catalog and mail-order purchasing was a first choice for shoppers looking to items shipped directly. The MOTO account type was ideal for companies that took credit card information through these channels, and it continues to be a first choice today for many companies ...Read More

Monthly Archives: April 2012