Adam Abernethy asked:




When choosing an credit card processing agent several aspects should be considered in addition to the cost. There are many off line and online merchant account sources to choose from. You should consider what they have to offer and how they help serve your specific needs.

One of the best places to start your research is by determining which credit or debit cards you wish to accept. American Express and Discover give you the option of applying directly, but MasterCard and Visa require that you establish service through one of their sales channels.

As an example, the place you now bank most likely offers merchant services and may be the easiest way to start your credit card payment processor shopping. Often times merchant service are offered in bundles with merchant products that you may not need or use. It’s worth looking into a banks packaged services, but you may want your merchant account a la carte.

There are many independent sales organizations that sell merchant accounts, credit card swipe machines and even software for online credit card processing. The ISO’s don’t actually process payments, that’s done through a third party. That third party could be your local bank or a banking institution out of state.

Your local Chamber of Commerce or other networking groups may be a good resource for referrals to find a reliable merchant or card services company. Ask other business people you know for their recommendations and specifically, colleagues in the same industry can be particularly helpful. Restaurants, car dealers and doctors all have different needs when it comes to accepting credit, debit and gift cards in the shop, office or online. Someone in the same industry as you may have found a good solution for your needs, even if you are just now discovering what those needs are.

Possibly even more important than slight variations on costs and price is an organization’s customer service. Remember a credit card merchant account is like any other business bank account and when you need help or clarification, time is money. If the company offers referrals, call them and ask how easy or difficult is it to get through to customer service and inquire about how the fair thepayment processor is when dealing with disputed charges or charge backs.

Some service providers, especially web based payment processors may charge for customer service or different levels of customer service on a monthly or even per occurrence basis. Some companies can be reached at all hours even on weekends and some service departments are only open during normal business hours. Consider when you do most of your sales transactions and let that be your guide. Also online, internet help may be offered in addition to phone support.

My last piece of advice is to make sure you are doing business with a reputable company. In the case of Visa and Master Card you are relying on the processor to handle your money and make sure you get paid in a timely manner. Checking the Better Business Bureau and online checking of possible complaints only takes a few minutes and can that information in the long run could be …”priceless”.

Anita

Zed Miller asked:




Accepting credit card online is a simple task. Many reputed banks and financial institutions are now offering great deals on a merchant account. To see what most trusted banks and financial institutions are providing, all you have to do is browse through the internet and see the available services. Compare the processing rates, prices, terms, offers, etc to choose the deal that serves your business and client’s interests the best.

If you are not familiar with the name or the history of the company, you could check with the Better Business Bureau (BBB). Once you are convinced with the company’s ability to provide you a merchant account, negotiate the most suitable equipment, costs, services, etc that will benefit your business.

Once you get approved for a merchant account, select the credit processing equipment that suits your business. In case the location of your business is permanent, you could opt for a combined terminal and printer. If your business processes many e-checks or debit cards transactions, consider adding this equipment. In case your business requires delivering goods to remote areas, you could add a wireless credit card processor.

Setting a website for your company expands the way you accept credit card online merchant account payments. A graphic designer will help you develop a site for your business in such a way that it makes customer coming back. Include product and service descriptions, price lists, industry tips, and other information that will make your site useful and interesting. People going through your website will be impressed with your web-site up and would like to stay back to shop and make credit card purchases online.

Customers prefer improved and sophisticated methods of shopping. An easy convenient way of payment would surely make ad vast difference to your sales and expand your client base.

Annie

Peter Kenny asked:




If you have ever shopped online, then you might know about some of the dangers associated with online purchasing and online credit card fraud. If you are not careful, you could end up being a victim of online fraud, which could leave you with a large bill to pay of items that you have not purchased. Here is some more information about the dangers of online credit card fraud and how to avoid them.

Why shop online?

If there are dangers to shopping online, then why do so many people do it? Well, the dangers of online fraud are only equal to those of any other type of transaction. Also, online shopping is often much cheaper and quicker than regular shopping, and consumers who want to find great deals without leaving their home are turning to online stores.

Use credit not debit

The first tip to help you avoid online fraud is to make sure you try and use a credit card to purchase goods rather than a debit card. This is because credit cards are much safer than debit cards and have far more security features. If someone were to get hold of your debit card details, you are unlikely to be protected. However, credit cards are usually covered by purchase protection, meaning that items you have not bought will be refunded to you.

Use HTTPS

When shopping online, it is important to make sure you only enter your card details over a secure connection. If you enter your details on a page that is not secured, it will be easy for fraudsters to get your details and use them to purchase items. To make sure the page is secure, check that the page address starts with https://. This means that the page is secure, and it is safe to use. If it does not start with this prefix, then do not enter your details.

Use trusted web sites

Although making sure the page is secure is important, you should try and make sure you only use tried and trusted web sites for purchasing online. Using small or unknown sites can lead to problems, whereas if you stick to large company sites that are used by many then you are more likely to stay safe. These large web sites have better security features in place, and are more likely to help you with any problems regarding unauthorised transactions.

Keep all details

If you make a purchase online, make sure that you print out all of the details of the order, such as the company name and address as well as an invoice number and the amount you have spent. If anything goes wrong then you will have some record of the transaction and be able to sort out the situation.

Computer protection

It is important to remember that as well as being safe online, you should make sure your computer itself is safe. The easiest way for a fraudster to get to your financial information is to hack into your computer. Make sure you have adequate anti-virus protection that is up-to-date and that you have firewall in place. This will help to stop fraudsters getting hold of your information, and keep your money safely where it belongs.

Carl

Jack M Patterson asked:




Prepaid debit cards have advantages over credit cards, as well as some limitations. Both kinds of “plastic” let you make purchases safely and conveniently without having to carry cash. Both are widely accepted by stores, restaurants, and other bricks-and-mortar and online merchants. The main difference between the two is that spending using a credit card is a form borrowing while with a debit card you are spending your own cash that you have already deposited to your card’s account. Thus you have “prepaid” for your purchase.

What Debit Cards Can Do that Credit Cards Can’t

Debit cards let you deposit your money into an account and spend it as you see fit. In contrast, you can’t deposit money on a credit card; you can only use credit that you then have to pay back. Even a “secured credit card”-for instance where you have to put $500 down as collateral to cover your charges-does not allow you to add your own money and withdraw it interest free. Rather, your deposit is only securing your line of credit and is not accessible to you until you close the credit card. Your line of credit could be increased beyond your initial collateral deposit as you develop a good payment history.

You have many ways to add money to a prepaid card, such as using a money transfer agent or purchasing a Greendot MoneyPak at a broad swath of participating retailers nationwide. You can even set up a direct deposit to your debit card for all or part of your payroll or benefits payments.

Debit cards can curb your impulse spending. The reason for this is simple psychology. It’s your money, and you can only make purchases on the card if you have enough funds in your card account to cover your purchases. Unlike writing a check which might bounce, you can’t get overdrawn. And unlike paying with a credit card that only limits your spending, based on the spending limit of the card, you can’t borrow money that you don’t have. You don’t have to worry about going further into debt and having to make monthly installment payments to pay back the charges. Odds are you will think twice about every purchase and will be more mindful of your budget.

Some debit cards let you check your purchase history and balance online, by calling a customer service number, by using an ATM machine, or even using text messaging on your mobile phone. In today’s economy, more and more people are finding it harder to get a credit card. But it is easy to get a prepaid debit card with a Visa or MasterCard logo on it. All you have to do is pass an identity check which helps prevent fraud. An identity check basically establishes your name, birth date, and address matches your official identity usually matched against your social security number. With a debit card, you’ll have the flexibility of a credit card yet peace of mind that you will not be going into debt.

What Debit Cards Can Do that Checks Can’t

If a retailer does not accept personal checks, it likely will accept a debit card as a form of payment for products or services. Just ask or look for a sign that reads that MasterCard or Visa cards are accepted. While debit card purchases technically run on a different network than credit cards, these networks are still run by MasterCard or Visa. If you write a check and don’t have enough funds in your bank account to cover the amount of the check, you can get overdrawn. This can mean hefty overdraft fees for every bounced check, sometimes as much as $30 per check. A check card (a debit card that is tied to your checking account) can still put you at overdraft risk depending on the bank. Most reloadable prepaid cards, however, will not allow you to become overdrawn and thus can’t hit you with an overdraft fee.

Writing checks, or even using a check card, does not help you build credit. That is also the case with prepaid cards, unless they are tied to credit building program like the iAdvance(R) Line of Credit from MetaBank. This program lets you take out small loans on your card, for example $20, and every time you pay them back that fact gets reported to one or more of the major credit bureaus.

Debit Card Limitations

Credit card consumers generally speaking have more leverage against merchants than debit card consumers in disputes over charges, given current Federal regulations. MasterCard offers a zero liability coverage for unauthorized use of a Prepaid MasterCard, which do not apply for PIN transactions (which is why it is important to protect your PIN number).

Perhaps one of the biggest limitations is the consequences of not reporting a lost or stolen card to the bank issuing your card within 48 hours. The level of protection differs from state to state. If the lost card is never found, or the cardholder reports the theft within 48 hours, the FDIC-backed funds will remain safe, and can be moved to a new account when the original account is closed. But a cardholder who fails to report the lost or stolen card in a timely fashion could wave goodbye to his or her money that was once on the card but spent by the thief. The amount of liability will depend upon the policies of the bank issuing the card as well as the state laws governing any such limits.

Wesley

Me asked:


i want to purchase something of the internet of a prepaid debit card you buy at the store ,but i dont know if i can, because most stores online ask for a credit card not debit card. will a prepaid debit card work as a credit card?

HOUSTON

Peter Kenny asked:


If you have ever shopped online, then you might know about some of the dangers associated with online purchasing and online credit card fraud. If you are not careful, you could end up being a victim of online fraud, which could leave you with a large bill to pay of items that you have not purchased. Here is some more information about the dangers of online credit card fraud and how to avoid them.

Why shop online?

If there are dangers to shopping online, then why do so many people do it? Well, the dangers of online fraud are only equal to those of any other type of transaction. Also, online shopping is often much cheaper and quicker than regular shopping, and consumers who want to find great deals without leaving their home are turning to online stores.

Use credit not debit

The first tip to help you avoid online fraud is to make sure you try and use a credit card to purchase goods rather than a debit card. This is because credit cards are much safer than debit cards and have far more security features. If someone were to get hold of your debit card details, you are unlikely to be protected. However, credit cards are usually covered by purchase protection, meaning that items you have not bought will be refunded to you.

Use HTTPS

When shopping online, it is important to make sure you only enter your card details over a secure connection. If you enter your details on a page that is not secured, it will be easy for fraudsters to get your details and use them to purchase items. To make sure the page is secure, check that the page address starts with https://. This means that the page is secure, and it is safe to use. If it does not start with this prefix, then do not enter your details.

Use trusted web sites

Although making sure the page is secure is important, you should try and make sure you only use tried and trusted web sites for purchasing online. Using small or unknown sites can lead to problems, whereas if you stick to large company sites that are used by many then you are more likely to stay safe. These large web sites have better security features in place, and are more likely to help you with any problems regarding unauthorised transactions.

Keep all details

If you make a purchase online, make sure that you print out all of the details of the order, such as the company name and address as well as an invoice number and the amount you have spent. If anything goes wrong then you will have some record of the transaction and be able to sort out the situation.

Computer protection

It is important to remember that as well as being safe online, you should make sure your computer itself is safe. The easiest way for a fraudster to get to your financial information is to hack into your computer. Make sure you have adequate anti-virus protection that is up-to-date and that you have firewall in place. This will help to stop fraudsters getting hold of your information, and keep your money safely where it belongs.



JEREMY

Floyd F asked:


1)How does the whole system and procedure work?
2)Do debit cards work as well as credit cards?
3) I know the consumer has to take precautions but what are the security procedures and precautions taken by credit card companies and online payment companies and systems to protect you?
4) What shud i look for in a website to know it is totally secure and is known and legally accepted by govt agencies, banks and other agencies in concern?
5) Is there a universal agency/institute that websites which accept online payment are registered with?(for example ISO for quality of goods etc.)

STERLING