Maybe you’re in the process of investigating the benefits of opening a merchant account. You’ve probably read the research which points out that customers are more likely to spend more on a purchase when they use a credit card than when paying by cash or check. You’ve probably heard other small business owners boasting about how they were able to streamline the checkout process for their customers and ramp up their profits by accepting payments on the go.
Even though the benefits of signing up with a credit card processing company are endless, there are certain risks you have to keep in mind as well. The following are a list of fees associated with opening a merchant account.
Statement fee. This reflects how much processing occurred during the month and what fees were incurred as a result. Your payment processing company may send you a statement in the mail or you can opt to “go green” and view all of your statements on the Internet. Some businesses still charge a fee for you to access your monthly statement on the World Wide Web. Shop around for those companies that don’t charge you for online access.
Authorization fee. Whenever a transaction takes place, expect to see this fee each time a transaction is sent for authorization by the card-issuing bank. Many businesses charge this fee – whether the request is approved or not.
Monthly minimum fee. If you are an entrepreneur doing a small volume of sales (less than $40,000 a year) you’ll probably get hit with a monthly minimum fee. This fee ensures that the cost to maintain your account from month to month is met. For example, if your monthly minimum fee is $30.00 and you’re only doing $20.00 in sales each month, the credit card processing company may charge you $10.00 to make sure that you’ve satisfied their fee requirements. It pays to shop around to get the lowest monthly minimum fee.
Even though there are fees associated with opening a merchant account, small business owners still come out on top with this form of payment processing. Think of all the sales you’ll be missing by not offering a way of processing credit cards, and the merchant account becomes a highly beneficially tool in your business arsenal.
Feel free to contact me anytime at blakepollack@gmail.com
Monday, October 1, 2012
Tuesday, September 25, 2012
Grow Your Home-Based Business with a Merchant Account
Just because you sell goods and services out of your home doesn’t mean your business isn’t reputable and doesn’t have the capability for growth. Many multi-million dollar companies got their start out of a basement or a garage, but they were able to achieve great success by competing in the global marketplace and by exploring cutting edge business strategies to expand their customer base.
As the owner of a home-based business, this may seem intimidating to you. Just because you started small doesn’t mean you have to stay small. There are many merchant account services that are easy to implement, affordable and can help you get up and running in no time.
Some people are slow to embrace technology because they think they’ll be a failure. But you’ve already failed if you have options at your fingertips to introduce you to a wealth of potential clients and you don’t take advantage of them.
Here are several benefits of signing up with the right credit card processing company:
• Accept credit cards and checks online or by phone.
• Accept automated payments from regular customers. This means the payment processing company will debit your customer's bank account on a recurring basis.
• Accept wireless credit card payments. This is the perfect payment option when you’re at trade shows and conventions. You just swipe or key a customer’s credit card information into a reader that plugs into your smart phone. Go mobile, go global!
• Do a larger volume of sales. Customers paying with plastic tend to spend more money than those paying with cash or a check. A merchant account allows you to accept larger orders.
• Do business with confidence. Many payment processing companies offer 24/7 customer service and help streamline your paperwork so you can focus on running your company.
Your home-based business can hit a home run by partnering with a credit card processing company that understands your needs and wants to help you reach them. When it comes to expanding your brand, stop thinking small. Go big … or go home!
Feel free to contact me anytime at blakepollack@gmail.com
As the owner of a home-based business, this may seem intimidating to you. Just because you started small doesn’t mean you have to stay small. There are many merchant account services that are easy to implement, affordable and can help you get up and running in no time.
Some people are slow to embrace technology because they think they’ll be a failure. But you’ve already failed if you have options at your fingertips to introduce you to a wealth of potential clients and you don’t take advantage of them.
Here are several benefits of signing up with the right credit card processing company:
• Accept credit cards and checks online or by phone.
• Accept automated payments from regular customers. This means the payment processing company will debit your customer's bank account on a recurring basis.
• Accept wireless credit card payments. This is the perfect payment option when you’re at trade shows and conventions. You just swipe or key a customer’s credit card information into a reader that plugs into your smart phone. Go mobile, go global!
• Do a larger volume of sales. Customers paying with plastic tend to spend more money than those paying with cash or a check. A merchant account allows you to accept larger orders.
• Do business with confidence. Many payment processing companies offer 24/7 customer service and help streamline your paperwork so you can focus on running your company.
Your home-based business can hit a home run by partnering with a credit card processing company that understands your needs and wants to help you reach them. When it comes to expanding your brand, stop thinking small. Go big … or go home!
Feel free to contact me anytime at blakepollack@gmail.com
Thursday, September 20, 2012
Are You a Boss or a Bo$$?
National Boss’s Day is coming up next month. It’s a time when workers celebrate the leadership, contributions and wisdom of the man or woman in charge. Webster’s dictionary defines a boss as “a person who exercises control or authority, specifically one who directs or supervises workers.”
As a small business owner, a boss wears many hats. He or she not only possesses the qualities listed above, but this person is also responsible for moving the company forward, boosting brand recognition and profitability and constantly enlarging the business’s base of customers. A bo$$ is someone who thinks outside the box, who is always on the hunt for innovative marketing ideas and solutions to ramp up revenue and improve the company’s bottom line.
So how does a small business owner become a bo$$ in today’s uncertain economy and increasingly competitive ecommerce world? He or she must understand that most companies can’t survive on a cash-and-check only basis, that potential customers will hit the road when they see that you have no way of accepting their credit cards. Opening a merchant account is one of the fastest and most cost-effective ways of increasing your profitability, quickly placing you on the road to greater sales.
Why is this? It’s simple: Plastic is king! Prospective customers are more likely to make larger orders than those who pay with a check or cash. It’s easier for them to buy now and pay it off at a later time. A merchant account also means less waiting time at checkout. In a few moments, you can swipe a credit card or key it in and receive approval, versus having to wait for a customer to write a check or counting out and giving them back change. With mobile or wireless credit card processing, you can accept credit cards on the go, which is especially handy if you travel a lot for your business.
Why settle for being a boss when you can be a bo$$? Take control of your financial destiny with a merchant account that can build customer loyalty and dramatically increase sales.
Feel free to contact me anytime at blakepollack@gmail.com
As a small business owner, a boss wears many hats. He or she not only possesses the qualities listed above, but this person is also responsible for moving the company forward, boosting brand recognition and profitability and constantly enlarging the business’s base of customers. A bo$$ is someone who thinks outside the box, who is always on the hunt for innovative marketing ideas and solutions to ramp up revenue and improve the company’s bottom line.
So how does a small business owner become a bo$$ in today’s uncertain economy and increasingly competitive ecommerce world? He or she must understand that most companies can’t survive on a cash-and-check only basis, that potential customers will hit the road when they see that you have no way of accepting their credit cards. Opening a merchant account is one of the fastest and most cost-effective ways of increasing your profitability, quickly placing you on the road to greater sales.
Why is this? It’s simple: Plastic is king! Prospective customers are more likely to make larger orders than those who pay with a check or cash. It’s easier for them to buy now and pay it off at a later time. A merchant account also means less waiting time at checkout. In a few moments, you can swipe a credit card or key it in and receive approval, versus having to wait for a customer to write a check or counting out and giving them back change. With mobile or wireless credit card processing, you can accept credit cards on the go, which is especially handy if you travel a lot for your business.
Why settle for being a boss when you can be a bo$$? Take control of your financial destiny with a merchant account that can build customer loyalty and dramatically increase sales.
Feel free to contact me anytime at blakepollack@gmail.com
Monday, September 10, 2012
Shopping Around for the Right Credit Card Processing Company
Investing in a merchant account is one of the smartest things a small business owner can do. Especially with the holiday season coming up, when you’ll be doing a much higher volume of sales, it makes sense to partner with a payment processing company that can help increase your productivity. But with so many companies now offering merchant accounts, it’s tough to know which one to choose.
If you’re in the market for a merchant account, and you want to get the most bang for your buck, keep the following points in mind as you shop around:
Knowledgeable customer support available 24/7. You need to partner with a credit card company that offers experienced in-house support in the event that a transaction doesn’t go through or you have questions about your account. Some merchant accounts only offer an FAQ page on their website or a database of articles that may or may not address your particular concern. Not only is this lack of support frustrating if you’re in the midst of a transaction, it could translate to the loss of a sale. When you sign up with a credit card company, make sure you’re able to get a live person on the phone when you need them.
Flexible pricing structure. If you’re a merchant who’s doing a large volume of sales (or you plan to!) transaction fees can add up. This is in addition to any monthly fees the payment processing company charges for doing business with them as well as statement fees. In order to keep the most amount of money in your pocket, make sure the company you choose offers a flexible pricing structure. They may charge a higher monthly fee (for example $50), but they might also offer a much lower transaction fee than their competitors. Find out more about merchant account fees.
Free equipment for processing credit cards. Some credit card and wireless terminals can cost an arm and a leg, and this is in addition to the percentage you’re charged per transaction. When you’re on the hunt for the right payment processing company to do business with, look for those that offer equipment at no cost when you open an account. Certain credit card processing agencies may even waive setup and application fees. It pays to negotiate!
Selecting a credit card processing company that fits the needs of your business doesn’t have to be rocket science, but you need to be informed. If you want to increase your bottom line, streamline your payments and have peace of mind, it pays to shop around.
Feel free to contact me anytime at blakepollack@gmail.com
If you’re in the market for a merchant account, and you want to get the most bang for your buck, keep the following points in mind as you shop around:
Knowledgeable customer support available 24/7. You need to partner with a credit card company that offers experienced in-house support in the event that a transaction doesn’t go through or you have questions about your account. Some merchant accounts only offer an FAQ page on their website or a database of articles that may or may not address your particular concern. Not only is this lack of support frustrating if you’re in the midst of a transaction, it could translate to the loss of a sale. When you sign up with a credit card company, make sure you’re able to get a live person on the phone when you need them.
Flexible pricing structure. If you’re a merchant who’s doing a large volume of sales (or you plan to!) transaction fees can add up. This is in addition to any monthly fees the payment processing company charges for doing business with them as well as statement fees. In order to keep the most amount of money in your pocket, make sure the company you choose offers a flexible pricing structure. They may charge a higher monthly fee (for example $50), but they might also offer a much lower transaction fee than their competitors. Find out more about merchant account fees.
Free equipment for processing credit cards. Some credit card and wireless terminals can cost an arm and a leg, and this is in addition to the percentage you’re charged per transaction. When you’re on the hunt for the right payment processing company to do business with, look for those that offer equipment at no cost when you open an account. Certain credit card processing agencies may even waive setup and application fees. It pays to negotiate!
Selecting a credit card processing company that fits the needs of your business doesn’t have to be rocket science, but you need to be informed. If you want to increase your bottom line, streamline your payments and have peace of mind, it pays to shop around.
Feel free to contact me anytime at blakepollack@gmail.com
Tuesday, September 4, 2012
Make Technology work for Your Business with a Merchant Account
Bill Gates, business guru and Microsoft co-founder, once said: “Information technology and business are becoming inextricably interwoven. I don't think anybody can talk meaningfully about one without the talking about the other.”
Bill knows a little something about running a successful business. Whether you are ready for it or not, our world is becoming increasingly driven by technology. The small businesses that will not just survive but thrive in this tech-intensive climate are those that learn to adapt and stay abreast of current trends.
How savvy are you as an entrepreneur when it comes to the benefits of having a merchant account? Are you satisfied with your current customer base, or are you looking to ramp up your profits?
Partnering with a credit card processing firm can expose you to a wealth of potential customers.
This is how it works: Credit card processing companies authorize the transaction of customers who pay with plastic, and then transfer the funds from that customer's bank to the merchant's account. When you do business with a payment processing firm, you’re able to accept credit card payments in several different ways – in person, on the Internet and over the phone.
Some small business owners may shy away from the notion of opening a merchant account because they think they’re going to get locked into lengthy contracts with fees that are through the roof. Depending on the firm you do business with, payment processing can be very affordable. Some companies may only require a monthly fee for processing and a small percentage of each transaction. These lower fees allow you to keep more of your earnings and make your enterprise more competitive.
If you’ve ever driven to the bank with a sack of checks and bills to deposit, you know how time consuming that process can be. With a merchant account, the transaction process occurs within minutes and the money hits your bank within a day or two. This is a much simpler process than waiting for a check to clear.
Take Bill Gates’ advice and bring your business into the new millennium. A merchant account can help you do just that by giving your company more of a competitive edge.
Feel free to contact me anytime at blakepollack@gmail.com
Bill knows a little something about running a successful business. Whether you are ready for it or not, our world is becoming increasingly driven by technology. The small businesses that will not just survive but thrive in this tech-intensive climate are those that learn to adapt and stay abreast of current trends.
How savvy are you as an entrepreneur when it comes to the benefits of having a merchant account? Are you satisfied with your current customer base, or are you looking to ramp up your profits?
Partnering with a credit card processing firm can expose you to a wealth of potential customers.
This is how it works: Credit card processing companies authorize the transaction of customers who pay with plastic, and then transfer the funds from that customer's bank to the merchant's account. When you do business with a payment processing firm, you’re able to accept credit card payments in several different ways – in person, on the Internet and over the phone.
Some small business owners may shy away from the notion of opening a merchant account because they think they’re going to get locked into lengthy contracts with fees that are through the roof. Depending on the firm you do business with, payment processing can be very affordable. Some companies may only require a monthly fee for processing and a small percentage of each transaction. These lower fees allow you to keep more of your earnings and make your enterprise more competitive.
If you’ve ever driven to the bank with a sack of checks and bills to deposit, you know how time consuming that process can be. With a merchant account, the transaction process occurs within minutes and the money hits your bank within a day or two. This is a much simpler process than waiting for a check to clear.
Take Bill Gates’ advice and bring your business into the new millennium. A merchant account can help you do just that by giving your company more of a competitive edge.
Feel free to contact me anytime at blakepollack@gmail.com
Thursday, August 30, 2012
The Best Merchant Account
I've spent years researching and writing about different merchant services companies. Did you know that the best credit card processing company for a retail store, may not be the best merchant account for an online ecommerce store? This is why it is important to know everything so you can make an informed decision!
Do you want to know who I think the best merchant services company is for your business? Fill out the form below:
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Do you want to know who I think the best merchant services company is for your business? Fill out the form below:
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Credit Card Processing Do's and Don'ts Part II
The key to getting the
most out of credit card processing is to avoid certain pitfalls. In this
article, I will share with you a few merchant credit card processing do's and
don'ts.
Do's of Merchant
Credit Card Processing
Do gather up quotes
from a few merchant service providers. Don't base your final decision on
price - consider the features and benefits the merchant account provider
has to offer. Plus, you want to investigate a little and find out if it is the
right company to do business with.
Do set up a seasonal merchant
account if you are only open for a few months out of the year. Many businesses
like tax preparation agencies, beach resorts and ski resorts are open on a
seasonal basis.
Do check your
statements every month and check for any kind of unusual activity.
Do get setup with the
proper merchant account (i.e. ecommerce, retail, etc.).
Do offer customers
other payment options such as payments by check.
Do keep all of your
receipts in a safe location.
Do get set up 2-3
weeks before processing your first credit card sale.
Do pay your last bill
with your credit card processing company. If you neglect paying your
final bill, this could lead to collections and go on record.
Don’ts of Merchant
Credit Card Processing
Don't settle for your
local bank. Most traditional banks have much higher merchant credit card
processing fees.
Don't process credit
card refunds for a check or cash payment. A dishonest customer may still file
for a chargeback.
Don't process your
personal credit card on your credit card machine.
Don't email credit
card numbers because email is not 100% secure.
Don't sign up for any merchant account service offer without
thoroughly investigating the company.Feel free to contact me anytime at blakepollack@gmail.com
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