Merchant Services Journal Entry

Merchant Services : Reviews and Expectations

The primary costs to a merchant of merchant accounts are discount rate and transactions fees. The merchant account provider has a lot of latitude in the pricing structure.

Three tier pricing of Merchant Services  is one of the most common pricing schemes. Using 3 tiers pricing, the merchant account provider groups the transactions into 3 groups (tiers) and assigns a rate to each tier. The three tiers are qualified, mid-qualified and non-qualified rates.

A qualified rate is the lowest tier. It is what a merchant is charged when processing a consumer credit card in a way that has been defined as standard by the merchant account provider. The qualified rates is what is usually quoted by merchant account salespeople. A mid-qualified rate is what the merchant is charged if processing a transaction outside of standard parameters. A mid-qualified rate may apply to rewards or corporate cards, which can comprise up to 40% of the cards used for purchases. The Merchant Services, of course, has no control over what card a consumer uses.

authorize.net merchant account fees

Perhaps one of the biggest difficulties of being a merchant in the online adult industry is trying to accept payments from customers. It's not that your customers don't want to pay you, it's that the number of financial institutions willing to provide you with the capabilities to accept credit cards is small, and most of those have extremely high rates which means your profit is diminished greatly.

As a merchant in the adult industry, your number one priority is to find a merchant service provider with the lowest possible rate. However, it's also important to find a solution that is stable and reliable - if your provider is not adequately prepared for high risk merchant solutions then chances are there will be problems, the last thing you want is to have your money frozen or lost!

american express merchant account login uk

Merchant Services : Reviews and What to look for in a Merchant Account ?

american express merchant account statement

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

There are two types of merchant accounts. First is the normal account, where the merchant can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of merchant account involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as "high risk" ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

As the saying goes, you cannot achieve anything in life without taking risks; companies are on the look-out for novel grounds that ensures a healthy business. These ventures might be a little unconventional, but what counts in the end is the turnover the company produces. So, banks or financial institutions should study them carefully and try to help them carry out the payment process, rather than classifying them as high risk and denying applications. The high risk merchant account acquiring banks are in fact eye-openers in this regard.

Merchant Services Declined Letter

Merchant Services : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant Services acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

accept credit card payments free

There are two types of merchant accounts. First is the normal account, where the Merchant Services can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Merchant Services involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

accept credit card payments anonymously

Merchant Services : Things to Note and Avoid

accept credit card payments on laptop

Selling digital products like ebooks are all the rage these days due to the duel factors that consumers are snapping them up like wildfire and that you as the merchant are able to make almost 100% profit on the deal.

Whereas a $20 product such as a physical book sold in a store may only make the author a dollar or even less in profit, selling the same product online in a digital format will give you $18 or more of profit. It's pretty simple math why so many people are choosing to market their ebooks online, isn't it?!

The question of course from aspiring eBook authors is how to accept credit cards on their website so they can process orders smoothly and then allow their customers to effortlessly download the book they have just purchased.

In this article then we're going to look at 3 popular merchant account providers used by eBook sellers so we can compare the various options and so, I hope, enable you to make an informed decision about the best provider for you.

Paypal and Clickbank are both third party processors which means essentially that you're using someone else's merchant account. The result of this is that you hve less control over your business. As an example, stories are rife on the Internet about Paypal "locking" people's accounts for no obvious reason meaning that they are then unable to access the funds that are legitimately theirs. To me, if someone prevented me from accessing hundreds, even thousands of dollars that are rightfully mine, I'd be pretty angry.

As well as giving your business more control, your own proper merchant account may well work out more cost effective over the long term. They may charge a small monthly fee, but the per-transaction fees can be so much cheaper that you can actually make a considerable saving in lot of cases.

In the end, the decision really is yours. Clickbank for simplicity, Paypal for speed of payment or your own merchant account for flexibility and cost effectiveness.

accept credit card payments website

TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

Merchant Services Journal Entry