How to Accept Credit Cards without Fear of Chargebacks

A lot of merchants are losing potential sales because they simply will not accept any credit cards mainly because of the fear of charge backs. If certain steps are taken the possibility fear of charge backs are eliminated. A lot of this can be learned by reading the terms and conditions of any merchant agreement as well as the terms and conditions for the individual cards.

Many new merchants will simply sign an agreement giving them the ability to accept credit cards without ever reading the terms and conditions. I know this because I was one of them. I had to learn this information the hard way. I know of several companies, sell both tangible and intangible goods, who have never had a charge back because they simply follow certain steps.

In short; Fear of Chargebacks
1) Get a tracking number when shipping
2) Get the customer to sign an authorization form
3) get the customer to say “I authorize so and so amount to be charged to my card for the following product” make sure that this is recorded.

Before going into the explanation of these 3 steps let me first give the examples of a couple of scenarios;

Let’s say someone has a Yahoo or Ebay store. Numerous studies have been down that have shown that if you don’t have some way of accepting credit cards that you are giving up over 90% of potential sales.

Some consumers say they are afraid to use their credit cards online because of all the threats of theft. Most merchant services require the card holder to not only enter their card number but also the expiration date and on the back to the right of your account number there is another number which is 3 or 4 digits depending on the type of card. With all this info the oonly way your card could be used without your permission is if the actual card had been stolen.

Eventually, along with your numbers will most likely be the requirement of either your fingerprint or a retina scan. This technology is right around the corner. In the meantime when using your card make sure that the site you are using your card with uses what’s called SSL encryption.

Avoid Fear of Chargebacks, back to our 3 steps, with item number 1, even if you are selling a product that is not a tangible item, put some documentatiuon like maybe a welcome kit on CD and ship this product to your customer. Make sure that you use a service that uses tracking numbers and will show who signed for the product. If you are selling something like an ebook then put a copy on CD and ship it to your new customer as a backup copy.

When you a buy a product from a merchant like Walgreen’s or your local grocery store the reason that you are not able to dispute the item is because at checkout you actually sign a credit card authorization form, no fear of chargebacks. A friend of mine, who takes his orders via the telephone always faxes the customer an authorization for and has them sign it and return it before any product is shipped. Companies who are charging for a service would be protected if they followed this procedure.

I have talked with the actual credit card companies like Discover, Visa, MasterCard and American Express about this. I once bought a software product that was supposed to do certain things. I tried to dispute the charge but because I had signed an authorization form and because the company had shipped me a backup copy on CD I was not able to dispute this charge. Discover told me that all they cared about was that I received the product. I lost 0 for this software because the damn thing didn’t work.

The final kicker would be if you had recorded this transaction. Before doing this you need to let the other party know that they are being recorded but if I were to charge for a cruise and the travel company let me know that the transaction would be tape recorded then even if I never went on this cruise the only way I could get reimbursed is if the travel agency decided to issue me either a refund or a credit.

Choosing the right ACH company is a very important decision. This is not an area of your company that you want to trust to just anyone. Not only will your financial accounts for collecting payments be available to the company, so will all of your customers’ financial information. You must have reputable, trustworthy, and reliable ACH processing company at your disposal. You should check with the Better Business Bureau before entering into any agreement with an ACH company to see if there any unresolved complaints against the company.

Some will charge you a fee for each credit or debit transaction, while others will charge a set fee for certain number of transactions. Track any additional expenses or fees and make sure you are getting the right solution for you. Some ACH companies will also create a secure hosted payment page for your website, which can really be a great bonus.

ACH processing can save your company up to 80% off the cost of traditional collection and check processing fees. However, it can also save your company a lot of man hours. If you need to accept checks by phone or fax, that service is usually available, as well. You may want to set up automatic ACH payment withdrawals for customer accounts or you may only need one-time payments. The beauty of ACH processing systems is that you can set up only what you need. Some companies may need to send out payments to customers, and this too can easily be taken care of for your company.

ACH processing is really a great way for your company to streamline payments and collections. From the state of the art security for you and your customers to the decrease in losses for NSF checks, you will quickly see that this is certainly a time and money saving move for your company.

In today’s busy world, this is one service that can really minimize expense, while increasing cash flow.

Why Should we use a Offshore Medical Billing Merchant Account
Look to improve your medical billing profitability? Looking to control your medical billing cost? To hire medical billing specialist is best option for this. If you outsource medical billing requirements at trusted and well known medial billing company, then you can save valuable time of your office employee and you can use your efforts in significantly way to provide easy billing solution.

Why we hire medical billing specialist to outsource medical billing needs? How medical billing specialists help you to get proper medical billing service? There are some important factors are useful which we have discuss here.

Medical billing specialist can maintain high quality and accuracy of services
You can get proper method of medical billing process to improve business profits
You can get advantage of experienced billing experts and specialization in the medical billing services
You can access your medical billing practice with best output and high accuracy
By hiring medical billing specialist, you can concentrate on your core relative business task
You can down your operating cost by outsource medical billing to billing specialist who can easily provide best medical billing services to the world wide clients

If you look for improve performance of your medical billing system and also medical coding system, you need to electronic medical billing solution. The medical billing specialist allow you to utilize the benefits of electronic billing while keeping its cost considerably lower than cost of manual claims costs.

Medical billing specialist can increase your efficiency by turning bill collection into a pleasure rather than a pain. Doctor can focus on what they do best, treating your patients, and leave the billing for the medical billing specialist to accomplish professional task.

In the health care outsourcing industry, medical billing business is the latest trend to booming your business or individuals. Thus, this is how you can hire medical billing specialist.

Offshore Medical Billing is the ideal destination for medical billing solution.

Why Should we use a Offshore Medical Billing Merhant Account

Comparing Credit Cards And Debit Cards

Both credit cards and debit cards can offer great convenience to cardholders. As everyone has different needs and preferences though, the choice between a credit and a debit card is not  always clear.

Credit card advantages

1. Provided that you will pay at least your minimum payment on time, you will be able to build a  good enough credit.

2. Most of them give you rewards that  can be used for gifts or discounts on certain products and services.

3. Big protection is offered when it comes to fraudulent charges. In the event of a fraudulent charge, you can make a dispute claim to your  card issuer, so that the specific charge will be removed from your balance. You will not have to pay for it.

4. In case you are not sure if you want to proceed with a purchase, you are able to withhold your payment..

5. You have the opportunity to make many and big purchases, as several credit cards offer big spending limits.

Credit card disadvantages

1. Having to pay for interest. Unless you are able to pay the whole amount each month, in addition to the cost for the purchase you made, you will also have to pay a certain amount for interest as well.

2. Having to pay for extra charges. If you are late with your payments you will be required  to pay a certain amount for extra charges as well.

3. Having to pay for annual fees. Most credit cards have an annual fee that you will have to pay once a year. Even though the amount is  usually not big, it is still a cost and if you have to pay for interests and extra charges at the same time, it can be quite disturbing.

4. Getting carried away easily and end up spending more. Due to the fact that only a minimum payment is required of you each month, it is easy to overspend, especially when your credit card has a big spending limit.

Debit card advantages

1. Overspending is unlikely. When using a debit card, money is deducted straight from your bank account, which means that if there is no money left in your bank account, you will not be able to proceed with the transaction. Furthermore, transactions with a debit card make your  bank balance go down, while the opposite happens with a credit card.

2. Good substitute for cash. Using a debit card is quite similar to using cash, with almost every store accepting it instead of cash. By using a debit card, you do not have to waste time by going to ATM machines, worry about  losing your wallet or count every penny.

3. Reasonable fees or no fees at all, as

well as no interests. With most debit cards you will not have to pay fees, or if you do they will be very reasonable ones compared to the fees you would have to pay with  credit cards. You will not have to pay interests either.

Debit card disadvantages

1.  In the event of fraud, the protection offered to the debit card cardholder is not as much as there is for the credit card cardholder. Things can get even more difficult if there is a delay in reporting the unfortunate event.

2. In case you are not sure if you want to proceed with a purchase, you are not able to withhold payment. Since the money is automatically deducted from your bank account, by the time you decide you want to reconsider a purchase, chances are that the merchant  will already have your money. To get your money back a mutual settlement in your favor must take place and that may take a while.

3. In case of fraud or dispute, you run the risk of being left with no money at all in your bank account, as your debit card is connected to it. Furthermore, that can lead to other  transactions defaulting and that in turn will require the payment of extra fees.

Credit cards and debit cards are both equally useful, yet in different ways, so everyone should make the choice that best suits his needs, after carefully considering all pros and cons. It is important to take your time with this, as a bad decision can have detrimental effects.

How Internet Merchant Accounts can Bring Web Businesses

Deciding to take your small business online is a terrific way for your establishment to continue prospering in the months and years ahead. More and more these days, business owners from around the world are realizing the potential of taking their specialty onto the worldwide web. But making this transition on your own can only get you so far. Just like so many other elements when running a business, sometimes you need a helping hand when choosing the best merchant services solution for your business. This is where teaming up with an Internet merchant account provider can help boost your web business to the next level. Internet merchant account providers have all sorts of techniques to help your business, from online auction payments to credit card acceptance to ACH, Echeck, and beyond. But before you get started on the road to success with your own Internet merchant account, you need to get signed up with the right provider.

Before you do anything you want to make sure you are teamed up with the right Internet merchant account provider for your specific web business. Of course, as with any business decision, you need to take a look at costs and any additional fees. But you also don’t want to just sign up with the cheapest merchant account provider out there. Many other things should come into consideration. You need to look at the variety of services they offer, the level of experience they have, and their commitment to customer service. Make sure to ask a potential provider if they have customer service representatives available around the clock, seven days a week. If so, it might be worth paying the extra money for that particular provider.

When you do decide on a merchant account provider, you will probably have to provide them with some paperwork to prove you are a legitimate business. This can include your website, any old tax filings, your business license, recommendations from other businesses you deal with, and any other items that prove your validity. From there, you need to make sure you also have a business checking account. This is so that if you choose to begin accepting credit and debit cards over your website, your provider has somewhere to transfer the money after your payments have been processed.

Did you know that the majority of purchases made over the Internet are paid for with either someone’s debit or credit card? It’s true. Having an online store is great, but if you are expecting every customer to mail you a check or cash, you are in for a rude awakening. People expect to be able to pay with their cards online, and it’s a big Internet out there. If they can’t do it at your online store, they are more than likely going to simply find somewhere else to go. When you decide to start accepting debit and credit cards, your Internet merchant account provider will assist you in setting up a system for processing these transactions. They will create a secure portal through your business website where your customers can enter their credit and debit card information. From there, the money will go through a series of extremely complex transactions. However, everything works quite simply on your end. You just wait for the money to be deposited into your business bank account after the payments clear.

There are two ways for your Internet merchant account to process debit and credit card transactions. What they do for you depends on the type of business you run. Some online businesses deal in products that can be instantaneously transmitted over the web. Music files, documents, streaming movies and more should be instantly accessible as soon as your customer enters their card information and completes their purchase. To accommodate this, your provider will automatically approve all of these transactions. In other cases, you might actually have to ship a physical item to the client. When this occurs, your provider will wait until the transaction has actually gone through before they notify you to send the product in the mail.

There are many business owners and customers alike who still have hesitations when it comes to taking their business online. Cyber criminals do, in fact, prowl the Internet and it is not irrational to have fears of putting your personal information out over the web. But when you sign up with an Internet merchant account, you can rest assured that the transactions conducted on your website will be safe and secure. Internet account providers are required by law to achieve full PCI compliance. This is a set of standards for the credit card industry that ensures every precaution is taken to facilitate a safe transaction.

Many account providers will also go the extra mile to provide you with fraud-detection software, and even store your sensitive information on a secure outside data center. All of these techniques are designed to give you and your clients peace of mind. It’s plain to see that with a secure Internet merchant account, your business can move on to that next level. Stop waiting around and reach new customers and gain increased web sales with an Internet merchant account today.

Accepting purchases with credit cards debit cards and electronic checks

If you have an online business, often called an ecommerce business, you will likely want to consider ACH processing. This automatic check processing system makes it easier for your clients to pay you.  Being able to take credit cards in a secure manner gives customers comfort and motivation to buy things from you. People tend to spend more when they are using plastic as opposed to cash, so it makes sense for any business to learn about credit card processing for their business. You can get ACH processing as well as credit card processing when you use a merchant account that offers these effective solutions.

Your business will increase profitability when customers can safely pay for things over the internet. With credit card processing or ACH processing through a reputable merchant account, customers will prefer to make electronic payments. Most online businesses facilitate internet transactions by using a service provider that offers both credit card processing and ACH processing. The merchant provider will process the payments for you and make all your transactions easier.

There is generally a small fee associated with Accepting purchases with credit cards, credit card processing and ACH processing but it is very cost-effective. If you agree to a transaction by check, you may have to wait longer than desirable for the process to be complete. Consumers have been found to procrastinate whenever possible in making payments. If there is room for buyer’s remorse, your customer might take advantage of it. Objectively, you want an immediate turn-around in payment for your product or service. This ends up saving you money in the long-run and if you want to maximize each transaction, then accepting payments in every available form will facilitate that. The minimal fee you will pay for credit card processing or ACH processing will end up netting you more business from customers. The more options you give customers when it comes to how to pay for something, the more flexible they will be with their spending.

Take a look at the best processing that you can get for automatic payments as well as credit cards. There are merchant accounts out there that will offer you diverse options for your business solutions. Obviously, you want to pay the least amount possible in fees when allocating money to ACH processing and credit card processing. Choose a merchant account provider that will offer you the best options for your business.

Your business depends upon sales. Making the most possible sales comes from not interrupting your customers when making purchases with credit cards, debit cards and electronic checks. Most people will be glad to make an electronic purchase as it’s not only fast, but also convenient. If you are Accepting purchases with credit cards customers will gladly work with businesses who offer every payment option. If you have an online business and want to stay competitive, you really have to accept credit and debit card payments as well as electronic checks.

Why of Obtaining Merchant Account
Why do I need a merchant account, you may ask? Believe me if you are a businessman and want your business enterprise to flourish then you have to sign up with a merchant service provider. Merchant accounts are being used by million of business people all over the world and have enabled them to raise serious cash. A merchant account allows you to accept a wide variety of credit and debit cards from your customers. Most customers use either one of these four cards: Visa, Master Card, Discover and American Express. Most merchant accounts will enable you to accept any of these four cards. This will mean that you won’t be forced to refuse any customer who owns an incompatible credit/debit card.

Now in the physical world you still have the option of asking for cash. But if you desire to market your products online, you don’t have an option but to go for a merchant account. Most customers using the net for shopping prefer using their credit cards for online transactions. So if you can offer your customers the ease and security of paying with their credit cards they will definitely recommend your website to others.

Given the advantages of merchant accounts searching for the right service provider can be a new experience. It will seem to you that most service providers are offering almost similar services at identical prices while there might be some that are offering a completely different features set at prices totally different from their competitors.

Types Of Merchant Accounts for Credit Cards

To accept credit card payments, you need to hire a merchant account service provider responsible for processing the credit card transactions. This service provider has to offer you a processing solution with features, rates, terms, service and incentives that are best suited to your business needs. A good place to start, prior to selecting your credit card processing solution, is to know the different types of merchant accounts available. Understanding the different merchant accounts and their features will enable you to understand the type of credit card processing solution you should go for.

Merchant accounts can be separated into two main categories:

Card-present merchant accounts Card-not-present merchant accounts

Rates and fees applied to these accounts are determined on the basis of a simple rule:

Higher rates and fees are charged to merchants who accept credit card transactions that are considered to pose a higher risk. Given this information, one can immediately deduce that rates charged on card-present merchant accounts are going to be generally lesser than those charged on card-not-present merchant accounts.

Let us look at card-present merchant accounts a little further. The only way to qualify for a card-present transaction, which requires both the credit card and the customer to be physically present at point of sale, is to swipe the credit card in a terminal (a magnetic strip reader) that captures the data of the credit card electronically. Hence, a card-present merchant account holder must invest in some form of hardware that enables the process of electronic data capture.

Card-present merchant accounts can be further sub-categorized into two, based on the selected processing solution: Non-portable processing solution Portable processing solution

Non-portable processing solution is often preferred at retail locations. Credit card processing hardware is connected to phone lines or modems. When credit cards are swiped through the hardware, data is captured and real-time authorization is obtained. The costs involved are usually less than those incurred by a portable processing solution.

Portable processing solution may or may not be able to obtain real-time authorization. For example with a wireless merchant account, you enjoy real-time authorization with a portable magnetic card reader. However, as you may guess, it involves higher hardware costs and monthly rates.

A store-and-forward merchant account also provides a portable processing solution. The hardware used is often a similar portable magnetic card reader too. However, it can store the credit card data at point of sale and the merchant can forward these transaction details for processing at a later time when a phone line is available. The rates charged on this account is less than those charged on a wireless merchant account. A store-and-forward merchant account is also more affordable than card-not-present merchant accounts as it involves less risk. It is suitable for business on the move with large sales volume and smaller ticket sales.

Usually, the cheapest card-not-present merchant account is the mail order merchant account (MOTO). All you need is hardware to manually key in information of the customer’s credit card. With an internet merchant account, you can start to accept credit card transactions over the net. The credit card processing software required for this purpose is usually affordable and comes with security features. It is essential for an online business.

The last card-not-present merchant account employs a latest innovation and is referred to commonly as telephone merchant account. It is probably the easiest to use as it requires only your mobile phone or a telephone. It gives you portability and you can accept payments on the go. With no hardware cost involved, it is truly value for money. Every business is unique and you must recognize your specific business type and needs. Find the most suitable match in merchant account and hire a merchant account service provider which will not only help you make money but also to save money. Ensure that the increase in sales brought about by your credit card processing solution is greater than the costs incurred by investing in the solution.

What is an International Merchant Account?

If you want to expand your business to include an off-shore trade, getting an international merchant account will be good for you. This is a feature that allows you to have a credible and reliable system to manage your credit card transactions, conveniently and easily.

When you sell and offer your business internationally, most people will purchase your goods and services with credit cards as mode of payments. If you have a merchant account that is processes internationally, it will be easier for you to accommodate credit card payments, be it a Master Card or Visa. You can get the account from service providers by signing up with them and paying a certain fee in exchange of their service.

What are the merchant service providers and what do they do?

The service providers are also called acquirers or merchant banks. These are registered members of Visa and Master Card and are authorized by the two firms to process relevant transactions.

Some service providers will just allow you to accept credit card payments while others expand their services by acting as a payment gateway between you (the seller) and your client (the buyer).

As online shopping surges unstoppably, many firms directed to cater the demand for online acquirers. Thus, you see a lot of them online in a stiff competition against each other in trying to get clients. This results to an advantage for consumers as the services keep getting better. For instance, if you are in hurry to avail an account, you can have the international merchant account that is processed in as fast as a few days by the many provider firms.

What are the features of an international merchant account and what makes it more advantageous over the domestic merchant account?

There are obvious differences between the two. For one, true to its name, the domestic merchant account cannot process international transactions. The other is that the domestic account, unlike the international account, is always bound within the rules of the native country.

Aside from the obvious differences, the international merchant account has great features inherent to it. These are the things that a business owner will find very useful in providing an efficient mode of transaction between him and the client. For a brief description of these features, see the details below.

International Merchant Account

• Acceptance of payments in any currency. A merchant account recognized internationally allows you to erase international monetary borders by enabling you to accept credit card payments in any currency. This is a very efficient mode because of its broader applications.

• Virtual terminal feature. By having the account, you get to experience the convenience of transacting in a virtual terminal available 24/7.

• E-Reporting. Business owners can monitor their transactions easily by receiving online reporting.

• High security measures and protection. You can build confidence on the security of your transactions as service providers implement strict fraud protection and scam control measures.

To get a international merchant account, just sign up online. Stay safe and experience maximum benefits by signing up only with credible and authorized service providers.

Strategies For Merchant Accounts and Protection From Credit Card Fraud

Today, fraud protection and credit cards is a very important matter of discussion related to merchant accounts.  You hear about the stories associated with lost or stolen credit cards.  Also having your identity stolen and later discover you had charges not made by you is a very scary situation.

There is no one solution that prevents fraud. It takes an assortment of ways to fight it.  Protection comes from knowledge and knowing the latest methods impacting the market. Researching issues listed below will help determine what your business can do to safeguard your fraud risk. Having the knowledge is an important step towards fighting fraud.

Keep an eye on people that:

Buy large amounts of merchandise without worrying about size, color, or price.

Don’t ask recommendations or questions on big dollar purchases.

Make an effort to distract or give you the bums rush during a sale.

Perform purchases and quickly leave the store, but then come back later and buy more merchandise.

Make large purchases just after the store’s opening, or as the store is closing.

This is just a sample of how fraud occurs on your account.  There are others to consider, but these are the most obvious.

Innovative Merchant Solutions is always available to assist our customers 24 hours a day 365 days a year. They have been built not only on high-tech solutions, but also on award-winning customer service. They have recently been awarded the Arthur Andersen Award for Best Business Practices in Customer Satisfaction and the Ernst and Young Entrepreneur Award.

If you are an existing merchant or a new business looking to open up a merchant account and  obtain a free rate review with exceptional customer service, than look no further.