Tag Archives: advance payment processing in UK

CREDIT CARD BENEFITS — #radiantpay leading payment gateway solution provider in UK

Considering credit cards it has been the most increased and convenient mode of payment in today’s world. If you have your own website or thinking to build a website and not yet had fixed the option for accepting debit and credit cards then you should, because you can’t think how much sales you will be losing not keeping this option as most of the customers pay online and think this is a secured mode of payment to pay for goods and services.

Why to do it?

In today’s world credit card has become the reliable and trust-able mode of payment to pay for goods and services. The development of technology has drafted changes in the minds of customers as well as the vendors, as discussed earlier by fixing the option of accepting debit and credit cards online you will not lose the current customers as well as the upcoming/future customers.

Just in terms of websites, debit and credit cards allow the vendor to take care of three type of customers.

1. The general customer: This is the average customer who wants to shop online goods and services from his desktop. After all, why to stand in a long queue in a retail or mortar store when there is option to pay online itself.

2. Impulse buyers: After stumbling on the website the visitor finally decided to buy the product which are in front of him/her. The plastic card seals the deal of the purchase he/she will make.

3. International customers: The internet has brought the world closer as well as your customers at doors, even if your customer is overseas. Initially differences in currency was the major issue in the past, but now why to wait for a check being cleared from your customer side when there is an option of paying it online on your website. This helps in not losing the customer just because he/she is residing in abroad.

Opening your business to debit and credit card payments

There are two ways of accepting plastic money on your website.

Using the merchant account: The merchant account helps you to accept payments from your customers via debit or credit card. Whether you create your own merchant account or enter into an agreement with a payment processor, who in turn operates merchant account, but you still need to have a business bank account. However, you need to have your merchant ID. Actually it will become the portal which will allow you to accept or decline your customer credit card payment. In essence it will become your virtual vendor terminal.

Using payment gateways: There are various independent companies who will accept credit and debit card payments from your customers on your behalf but take a percentage or charge a fees. They are also called third party merchants.

Which is the best method for you?

The methods of accepting credit card payments is entirely up to you, because both the methods has its own advantages and disadvantages. The cost of setting up a merchant account with a credit card processing is much higher. In fact, to use their services as an added incentive most of the third party merchants don’t have a setup fees at all.However, the transaction fees is much higher in third party merchant than merchant account.

If you are not sure how much money you will make on website, then the best method is to choose third-party merchant account. To just “test the water” third-party merchant accounts is the great way to go. However, this method involve the merchant also as it will be a time saver. The involvement of the merchant will be at the end of each transaction just receiving the payment. These merchants include PayPal, Digital Rivers and others.

Credit Card Processing How to Break the Cost?

January 22, 2018 admin

Handle all negotiation to break the card processing fees

If you’re a merchant who accepts payments from customers through credit cards, there is no way for you to completely stop payment processing costs. However, there are many ways in which you can reduce the payment processing costs to the bare minimum. Let’s not discuss ways in which you can reduce your payment processing fees:

Credit card companies often have additional charges for terminal functions that they provide. If you’re certain that you will never use such terminal functions, avoid paying extra for such functions. You can end up saving a lot of your hard earned money by making sure that you don’t subscribe for terminals that you will never use.
It is recommended that if most of your business is conducted telephonically or online, opting for a processing software over a terminal is much more financially beneficial.
Reprogramming of the existing terminal by the service provider can help in saving your money.
If you’re planning on leasing out your terminal to reduce monthly costs, you need to be extremely careful. Long term contracts and extremely high cancellation fees may end up costing you much more than you can imagine.
Compare credit card company payment processing prices before you get a specific credit card company on board. Not all credit card companies offer the same payment processing prices. While some credit card companies may have higher processing costs, others may offer a more affordable and budget friendly cost.
When deciding which credit card company to get on board, make sure that you discuss the waiver of cancellation fees. Credit card companies end up charging you a decent chunk of money for cancelled transactions. You need to strike a deal with the credit card company and make sure that they don’t charge you any money for cancelled transactions.

Business services, Credit Card Processing, Merchant Account

Handy Benefits of Digital Payment System

December 14, 2017 admin

As we all know about the digital world, how it helps us to improve our life by using their benefits in daily curricular activities. Online payment systems are genuinely making our lives smooth and easy. There are so many benefits of digital payment systems in our life. These are:-

Discounts:
We can get 0.75% discount on online digital payment except for simple transactions just like in Delhi petrol is @ 63.47 but if you are purchasing fuel through digital services than you have to pay only Rs. 62.99 per litre. You also can do savings on tolls, tickets etc. By this payment services, you can improve your cash flow.
Tracking spends
It is so easy for people to keep track their spending of recorded transactions. It also helps in case of scrutiny and filing ITR (Income Tax Returns).
Budget discipline
It is very easy to keep written records of spending and it helps to make a better budget. Control over extra spend is a better option for budgeting and save high investments. If you want to save money, you’ll have to control your small spending. Just like if you are losing your Rs. 10 per day on chips, chocolate or candies than you’ll not able to save small currency notes or changes. And maybe this uncounted spend will sneak your budget at the month end.
Lower risk
In the case of stealing credit card or mobile wallet, it will be easy to get the block, but stolen cash will never come back anyhow. So, in that case, digital payment sources are very helpful and secure to us. So you can secure your money by using online payment systems, and it is a safe option too.
Small gains
Main plus point of digitalized payment service is that you can pay the exact amount at the cash counter. Just like, sometimes we need to pay Rs. 426 but due to a shortage of change we have to give Rs. 430 to the cashier and purchase candies of Rs. 4 is waste spending.
GO DIGITAL, GET DISCOUNTS:-
By using digital payment system we can save 20%to 30% cash. For example:- We get discounts in service tax 15%, in fuel 0.75%, rail tickets 0.5%, in rail catering 5%, at highway toll 10% and at insurance 10%.

High Risk Merchant Account, Merchant Account

Myths of Merchant Account Services

August 29, 2017 admin

In the past years, the boom of online marketing has led to many changes in style and rules of our lives. Life has become quite easy for everyone be it a student, a teacher,a doctor,a bank,a businessman or even a housewife. To purchase anything we are just a click away. Similarly , online purchase of products has simplified human life to a great extent. Sellers and buyers no more need a market to start with their communications. Everything is available online. Now if the seller is selling something online they need to accept the payments of the customer through credit cards which is credited on a payment gateway.

Merchant Account Services are the services provided by the sellers to their customers on their credit cards or debit cards. For availing these services, the merchant need to have a merchant account. A merchant account is a type of bank account that allows businesses to make payment through credit cards or debit cards. Merchant account allows the seller to offer their customers a fast, flexible and secure options while making payments. Merchant account holder can be a businessman, an enterprise, a community,restaurants,governments, non profit organisation, a retail store,property management,corporate and small businesses.

When a sale is made on the credit card the customer has as much time they would like to pay off their credit card. To take transactions online,you need what’s called a Payment Gateway. It serves the same purpose as a credit card terminal in a store. Merchant Account Service provide services which are sustainable, socially – responsible and enables businesses to accept credit cards with the companies.

To brief it,Merchant Account Services are handling of electronic payment transactions through credit cards. Merchant processing activities involve obtaining sales information from the merchant, receiving authorisation for the transaction,collecting funds from the bank which issued credit cards and sending payment to the merchant.

Online Payments, Virtual Terminal

Apple Pay with iPhone, iPad, Apple Watch and Mac

August 24, 2017 admin

Apple Pay offers a simple, secure, and personal thanks to paying on iPhone, iPad, Apple Watch, and Mac.

You can use Apple Pay in stores, at intervals apps, and on websites in the expedition. In the UK, you’ll conjointly use Apple Pay with Transport for London (TfL). Once paying in stores with Apple Pay in some countries and regions, if you’re dealing exceeds a precise quantity, you may enter your PIN. In some cases, you may sign a receipt or use a unique payment methodology.

In stores, explore for one among these symbols at checkout. If you can’t use Apple Pay at a store that displays one among these symbols, allow us to recognize.

Apple Pay is safer than employing an ancient credit or identification. Each dealing with your iPhone, iPad, or waterproof needs you to demonstrate with bit ID or your pass code. Your Apple Watch is protected by the pass code that solely you recognize, and your pass code is required on every occasion you place on your Apple Watch. Your card range and identity aren’t shared with the business person, and your actual card numbers aren’t kept on your device or Apple servers.

When you pay in stores, neither Apple nor your device sends your actual credit or identification numbers to merchants. After you pay at intervals apps and websites in the expedition, the business person can solely receive info like name, email address, charge and shipping addresses that you just authorize to share to satisfy your order. Apple Pay continues unknown dealing info like estimated purchase quantity. This info can’t be tied back to you, and never holds what you are shopping for. Apps that use Apple Pay should have a privacy policy that you just will read, that governs the hiring of your information.

ACH Payment Processing

Modernized E-business with Electronic Check Processing

November 17, 2016 admin

The modernized world demands fast, easy, secure and convenient services in different industry sector. And yes, this modern payment technology enables many people to enjoy the benefits of easy, fast and secure payments.

The emerge of electronic check processing given huge advantages in the payment industry, turned paper work into electronic transfer. Electronic check processing also known as e-checks and became an essential part of modern businesses.

How can you Modernized Business by E-checks?

E-checks are classifieds as the most valuable and modern types of payment transfer system for hassle free and low cost method of getting paid quicker. E-payment helps merchants to settle transaction and meet the payment processing needs without obstacles. The e-checks started over traditional checks given comprehensive range of services.

Electronic check processing enables merchants to transfer funds electronically from one bank account to another. Electronic check processing use Federal Reserve Bank’s ACH to transfer funds. The merchants enjoy speedy deposit without wasting valuable time. The service provides benefit like minimize the risk of check stolen or lost.

Check processing solutions increase revenue, reduce overheads cost and time consuming process to transact funds from one account to another. The merchants able to give valuable time to material things in planning, pricing and quality of product and services.

Benefits of E-check Processing

Eliminates the daily trips to bank for deposits and payment transaction.

Reduce the time to have funds from checks deposited into a bank account.

Reduces the chances of check stolen, lost and bad checks

ACH transfer is less expensive and can be done in batches

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