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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 Credit Card Payments 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.

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There are two types of merchant accounts. First is the normal account, where the Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Credit Card Payments 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.

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A High Risk Merchant account is a special account provided by banks to online businesses that have a high credit rate or a business that has a high turnover, large volumes of sales along with enhanced risk of fraud.

There is a horde of online services that ensure acquiring a high risk merchant account for the high risk businesses. Today there are a number of offshore merchant account providers providing such businesses with fully tailored merchant account services. These websites offer both high risk and low risk merchant accounts and credit card processing services for all kinds of businesses globally. Such services hold tie- ups with banks around the world to provide the best merchant account for high risk and low risk businesses anywhere. We also have an international gateway.

The charges/ rates applicable for are high risk merchant account are relatively higher compared to a standard merchant account. However, the offshore merchant account providers can assure that the setup fee is charged for the high risk merchant account whereas fees for the other type of accounts are very small, sometimes with no setup fee at all. They also assure speedy delivery of funds.

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Credit Card Payments : 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 Credit Card Payments 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.

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There are two types of merchant accounts. First is the normal account, where the Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Credit Card Payments 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.

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Credit Card Payments : Things to Note and Avoid

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A merchant account is a type of bank account that permits businesses to recognize payments by debit or credit cards. A merchant account also serves as an agreement between a dealer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions.

There are three main types of merchant accounts that you might be able to choose from.

Retail merchant accounts - This type of account generally have the lowest transaction fees, but often have preventive rules. With this type of account, this requires that a very high percentage of credit card sales must be performed with the card present and that the card must be swiped through a physical credit card terminal. Businesses such as restaurants, grocery stores, and small hotels are usually linked with retail accounts. This type of account would be best for merchants who are not planning on handling business through the mail or online at any point.

MOTO merchant accounts - Mail Order - Telephone Order accounts has a tendency of charging a higher transaction fee and are used when credit cards cannot be physically swiped. Merchants usually process the payments of the credit card by entering the information of the directly into a terminal installed on a computer, or through the use of a Web browser to process transactions on a web site of the payment service provider.

Internet accounts - Internet merchant accounts are parallel to MOTO accounts, but are only used for internet transactions. A virtual terminal or payment service gateway is used by merchants who have internet accounts to process credit card payments. These payment service gateways are included with a good number of business web hosting packages, and have custom-designed HTML forms.

If you are in UK, you might have limited choices as to the variety of accounts open to you. Normally this type of accounts for UK and other European companies have very high rates. That is why it is important to choose the right type of account and payment processor for the type of business you will be handling. Although there is a great deal of service providers available these days, but you should always read their terms of service very carefully, for most of them charge excessive fees and have stringent rules regarding transactions. Do not hesitate to ask questions, it is important that you understand their terms and policies. Shop around and research different companies of accounts service providers. Consult people you know and ask if they could recommend this type of account's service provider with good rates. Before signing anything or agreeing to anything make sure that you do understand everything there is to know about their terms and policies.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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Credit Card Payments : 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 Credit Card Payments 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.

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There are two types of merchant accounts. First is the normal account, where the Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Credit Card Payments 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.

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Credit Card Payments : Things to Note and Avoid

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Accepting Credit Cards

As a small business or a small-small business (under 10 employees) it is important that you consider accepting credit cards if you don't do so already.  People expect to be able to pay with plastic.  They can pay with credit cards at fast food restaurants, gas stations, coffee shops and more.  It is just expected, fairly or not, that a business be able to accept credit cards.

The first thing you need to do is evaluate Merchant Acounts.  You may naturally assume that it is just easier to use your bank to set up your account.  Well, that is convenient, but is it really in  your best interest.

Many small businesses fall into the trap of latching onto their first merchant account and staying with them because of the convenience.  They do this to their detrement.  Over the past few years rates have lowered, while these small companies, out of loyalty or convenience, have been stuck paying the same rate they had when they first started.

Online merchant accounts are another consideration.  You will need virtual versions of the credit card processors described above:

  • Secure Gateway: This translates the information entered onto your website into data that can be read by an electronic card processing system.
  • Virtual Terminal: This eleminates the need for a physical point-of-sale card processing system.
In addition, these are some "nice to haves" that people have come to expect from online merchant accounts:
  • Online Shopping Cart
  • Encryption
  • Virtual check processor
  • Wireless terminals

Go into acquiring a Merchant Account with your eyes open.  It is a service that you will need if you plan on being competitive, so make sure you do it right.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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Credit Card Payments : 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 Credit Card Payments 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 on my website

There are two types of merchant accounts. First is the normal account, where the Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Credit Card Payments 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.

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Credit Card Payments : Things to Note and Avoid

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If you are the owner of a company that has yet to set up a merchant services account for credit card processing, odds are your company is either very new or very old.

For new companies just getting started, there are so many other things to worry about while getting set up that credit card processing can seem too confusing and intimidating to jump right into. On the other hand, there are plenty of older businesses that have been thriving for years which may have an "if it ain't broke, don't fix it" attitude.

But the plain fact is that the ability to process credit card transactions is only going to become more necessary as the years go on. And while business may be booming without using merchant services today, it may not be that way in the years and months to come.

Luckily, there are merchant service accounts for companies of all types and sizes, and with just a little bit of research you will quickly realize that credit card processing is not nearly as complicated as you may suspect. For starters, let's take a look at the different types of merchant accounts and figure out which one is the right fit for your company.

Retail Swipe Terminal

Does your company deal with the customer face-to-face? Do you have a real "bricks and mortar" business and handle most of your transactions in real-time? Then you are a perfect candidate for a retail swipe terminal.

Wireless Merchant Solutions

Are you a merchant who is literally "on the go"? Do you own a vending cart or do you your sales while on the road? There are two types of mobile solutions that can help to grow your business.

The first is a touch-tone solution. This is a great option for smaller merchants who can't afford a high start-up cost. You simply take your customers credit card information and process it manually over a touch-tone phone.

If, however, you can afford the startup cost then the best way to go is to actually buy a wireless swipe terminal. This pays off in the long run because many of the free terminals have high termination fees. After you have purchased the wireless swipe terminal it works just like any normal retail swipe terminal.

The time to take advantage of the world of merchant services is now. More and more businesses every day are discovering credit card processing solutions that are allowing their businesses to grow beyond their wildest dreams. Don't get left behind. Get on board today.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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