Tag Archives: Credit Card Processing services

Crucial Criteria to Categorize Credit Card Service Processor

Merchant Account SolutionsThere are over 200 million online customers in Europe alone, so the number of people using credit cards for the transaction is really high and as they are comfortable with the usage of the card the proportion is continuously increasing. As a result, merchant often appoints a processor to handle transactions of credit cards for merchant acquiring the bank.

As business depends on credit card processor to handle all the detail related to credit card it becomes very difficult to categorize processor but, some of the criteria which help to define the quality of credit card processing are:-

 Speed of transaction As customers love to pay from their cards and even a short delay can create a big problem so, it is always suggested to the provider in order to make the customer happy they should always increase the speed of transaction.

Security of transaction – Speed is one of the important criteria but not the only criteria along with speed customer wants the security of the transaction and provider should try their best to make a customer feel secure about the transactions.

Strong uptime record – Credit card outage makes a business untrustworthy and inconvenient. However, credit card processing outages are rare, but all complicated interdependent system is vulnerable to downtime.

Transparent rate structure – Though rate and fees vary with the category applicable to business but processor must make sure they have quoted and charged appropriately without tricking the customers as it is unethical.

Customer support – In today’s era of online payment customers are king of the market and in order to stay for longer period in the market, the processor must try to win the heart of customer by providing best after service to the customer because happy customer makes a business happy.

Credit Card Processing How to Break the Cost?

Handle all negotiation to break the card processing fees
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.

 

 

 

 

Are You Ignoring Your Payment Processing Fees?

card processing fees radiantpayAny merchant or online seller is well aware of the payment processing cost that he has to bear in order to accept credit card payments from customers and buyers. Typically any credit card processing fee snatches away almost 2% of the total sales value of the merchant. This fee often differs from one credit card Company to another. For a merchant who is selling products with limited profit margins, giving away 2% of the sales value can prove to be costly. While there are a lot of ways to tackle this menace of payment processing fees, a lot of merchants are still oblivious to the payment processing amount of money that they end up shelling out to the credit card companies.

 

If you’re one such merchant who’s successfully running an online store, or even just running a regular store that accepts credit cards for payments, you need to understand and be aware of the number of funds you’re giving away annually towards payment processing fees. Once you realize and are made aware of the amount of your hard earned money that is being given away to credit card companies, you will probably want to do everything in your power to reduce the payment processing costs that you’re paying.

 

One thing that is recommended to every merchant who accepts debit and credit cards as payment is that he should keep a proper record of all the processing costs that he ends up paying. Don’t just go about paying payment process costs blindly without getting educated on the matter. There are countless ways that one can actually tackle and reduce the payment process costs that they are paying. Find credit card companies that charge lower payment processing fees. Always keep in mind that the profit you make from your sales is your hard earned money and you should do everything you possibly can in saving a large chunk of it.

 

Specialized Service for Card Processing Services

Online Shopping. Couple Using Credit Card to Internet ShopWhen you signed up for card processing service for your company, you might have thought the only benefit was being able to process card payments. Actually, there are a lot more advantages than that.

There’s no doubt that card processing is vital for modern business. Customers do want to be able to charge their purchases.

What are the advantages of card processing?
Almost all consumers nowadays prefer to pay with a card for convenience. Whether your customer selects to purchase from the internet or personally visits your store location, providing them with money or card payment options will surely give you the edge over your competitors. Just imagine how much sales you may lose if you only accept cash payment.

If you are a wholesale supplier, accepting card payment from business-to-business clients is also advantageous especially as more and smaller enterprise entrepreneurs nowadays use business credit to make corporate credit history.

Why Should You Hire a Card Processing Service?
Card Processing services in UK
offers merchants a bunch of value advantages for their merchant accounts. Choosing a well-known and experienced card processing service provider can be very beneficial to your corporation. The biggest advantage of hiring card processing company to manage payments is the freedom it allows you to focus completely on expanding your company.

You need to explore the different services offered by card processing firms. Find one that’s right for your business today.

How Wise to use Selfie for Making Payments!

Selfie Merchant Acoount ProcessingThe word Pay by selfie is hitting the commercial global markets. The FIDO Alliance and card issuer consortium EMVCo have decided to bring into line their efforts to produce a new mobile payment specification. Selfie pay is totally new and innovative method for customers and merchants to pay and accept payments by verifying the identity when making transaction online with no spamming and fraud.

This allows card holders to verify the identity by using biometrics through selfie scan and finger prints – at the end the user require taking selfie. The only aim to develop a way to use secure nature of password. The update will introduced in certain countries the UK, Germany, Spain, Belgium and Sweden, following a series of successful trials in the US, Netherlands and Canada.

Finextra reports that the trial in the Netherlands proved very popular with 750 ABN Amro secure credit card users taking part. Over three-quarters of those involved stated that they would continue using a fingerprint scan or a selfie to purchase items. While nine out of 10 said they would replace their password with this new technology.
According to Mastercard nine of out ten people it tested in its Dutch pilot said they would like to replace their password with biometric identification definitively, while 75% of users said they are convinced that biometric payments will decrease fraud.