Credit Card Merchant Services - What Should I Be Looking For?
By [http://ezinearticles.com/?expert=Mike_Singh]Mike Singh
Credit card merchant services come in many different varieties and are available to provide many different services for you. These services include accepting credit cards, bank transfers and debit cards. Merchant services also can help you pay industries a lot quicker than normal. These services can also help you feel much more secure and make paying bills a lot easier and convenient. Privacy is a priority and personal information should be pretty safe when it comes to these services.
Businesses can also benefit greatly from credit card merchant services. These services can allow businesses to more easily accept payments and stop turning away customers because of a lack of cash. This can only help your business by allowing you to reach a wider customer base. A great part of a lot of services is that it is easy to stop and start whenever you want and there are usually no fees or cancellation fees either.
Credit card merchant services are also one of the very best ways to be paid for any service an individual may provide as well. This is because there is none to very little risk involved with it. This eliminates checks bouncing or fees being charged because of it. Your customer base will also expand as well because you can accept customers who do not have cash but only have a debit or credit card available to them for payment or you will be able to accept these payments over the phone if you like.
Merchant services only takes a few minutes and very little effort to start it up. Because of this in just minutes you can bill via email and get paid online. Your money will be available instantly or pretty close in most instances. This can only make your business thrive even better with faster and more convenient payment options available through card services.
One huge benefit of using credit card merchant services is increasing sales. Because you have been better equipped to handle more business you will have more customers and therefore more sales. This in turn can only help your business grow in size and profits. Not only this but you will find that card services can also help secure the finances of your business as well.
After seeing all the benefits of merchant support there seems to be no reason not to try it. Having more customers, more options available to them to make payments, more ease and convenience in online business and increases in profits are all great incentives to get on board with merchant support.
Check out http://www.my-credit-center.com/ for more articles on [http://www.my-credit-center.com/accepting_credit_cards_payments_for_offline_businesses.html]business credit card with reward and low intrest credit cards.
Article Source: http://EzineArticles.com/?expert=Mike_Singh http://EzineArticles.com/?Credit-Card-Merchant-Services---What-Should-I-Be-Looking-For?&id=284478
Tuesday, August 7, 2007
Tuesday, July 31, 2007
Credit Card Machines 802 Home
A Credit-Free Card: What Is A Prepaid Credit Card?
By David Riewe
In this high-tech era of computers and machines, the purchasing
power of people is mostly based on credit. Nowadays, credit
cards are almost indispensable in almost any business
transaction. For one, nobody can purchase anything online
without a credit card.
People who have a poor credit history though, will have a hard
time getting or renewing their credit cards. This is where
prepaid credit becomes useful.
There are lenders that offer prepaid MasterCards and/or prepaid
Visa Cards. Both these cards can be used like a regular credit
card. It is even hard to distinguish which card is prepaid or
not, by simply looking at it or even using it.
This is basically how prepaid credit cards work. When an
account is opened, the card should be “pre-loaded” with cash
up-front. This is like paying for a pre-paid calling card.
Prepaid MasterCards or Visas can be used anywhere as long as
these cards are accepted.
The prepaid credit card advantage:
1. Prepaid credit card can be easily obtained. It can be
purchased online or in local retail stores. It does not require
any credit check or proof of income.
The only thing to do is to fill out an application, pay a small
fee for setting-up the account and load the card with cash. The
amount of cash loaded will be the “credit limit”
2. No interest charges.
When a prepaid MasterCard or prepaid Visa is used, there is no
interest charge unlike the regular credit card. The reason for
this is that the money used is the owner’s actual money
therefore no interest is needed.
3. Prepaid credit cards are free from financial or credit
problems.
4. Prepaid cards can be used almost anywhere. Prepaid
MasterCards and Visa cards are almost accepted anywhere in the
world.
Disadvantages of Prepaid Credit Cards:
1. Usually a set-up fee of 5 to 50 dollars is needed when an
account is opened. Then another fee of $5 or more is paid every
time more money is loaded onto the card.
Regular credit cards usually do not charge a set-up fee or
annual fees.
2. Cash up front is needed before any purchase could be made
with the prepaid card.
This could be an advantage since compulsive spending can be
avoided.
3. There are some prepaid credit cards that cannot be used to
pay regular payments such as monthly electric consumption or
online services.
The Conclusion:
The prepaid credit card is a definite help for people who have
past credit problems. It is just a matter of choosing the right
prepaid credit card that suits ones’ needs.
About the Author: David Riewe is a Publisher and Online
Marketer. Visit his Credit Resources Blog Below:
http://www.push-button-online-income.com/creditcards/
Source: http://www.isnare.com
By David Riewe
In this high-tech era of computers and machines, the purchasing
power of people is mostly based on credit. Nowadays, credit
cards are almost indispensable in almost any business
transaction. For one, nobody can purchase anything online
without a credit card.
People who have a poor credit history though, will have a hard
time getting or renewing their credit cards. This is where
prepaid credit becomes useful.
There are lenders that offer prepaid MasterCards and/or prepaid
Visa Cards. Both these cards can be used like a regular credit
card. It is even hard to distinguish which card is prepaid or
not, by simply looking at it or even using it.
This is basically how prepaid credit cards work. When an
account is opened, the card should be “pre-loaded” with cash
up-front. This is like paying for a pre-paid calling card.
Prepaid MasterCards or Visas can be used anywhere as long as
these cards are accepted.
The prepaid credit card advantage:
1. Prepaid credit card can be easily obtained. It can be
purchased online or in local retail stores. It does not require
any credit check or proof of income.
The only thing to do is to fill out an application, pay a small
fee for setting-up the account and load the card with cash. The
amount of cash loaded will be the “credit limit”
2. No interest charges.
When a prepaid MasterCard or prepaid Visa is used, there is no
interest charge unlike the regular credit card. The reason for
this is that the money used is the owner’s actual money
therefore no interest is needed.
3. Prepaid credit cards are free from financial or credit
problems.
4. Prepaid cards can be used almost anywhere. Prepaid
MasterCards and Visa cards are almost accepted anywhere in the
world.
Disadvantages of Prepaid Credit Cards:
1. Usually a set-up fee of 5 to 50 dollars is needed when an
account is opened. Then another fee of $5 or more is paid every
time more money is loaded onto the card.
Regular credit cards usually do not charge a set-up fee or
annual fees.
2. Cash up front is needed before any purchase could be made
with the prepaid card.
This could be an advantage since compulsive spending can be
avoided.
3. There are some prepaid credit cards that cannot be used to
pay regular payments such as monthly electric consumption or
online services.
The Conclusion:
The prepaid credit card is a definite help for people who have
past credit problems. It is just a matter of choosing the right
prepaid credit card that suits ones’ needs.
About the Author: David Riewe is a Publisher and Online
Marketer. Visit his Credit Resources Blog Below:
http://www.push-button-online-income.com/creditcards/
Source: http://www.isnare.com
Friday, July 27, 2007
Credit Card Machines 802 Home
Credit Card Is Adding The Silver Lining To Your Pocket
By Sarah Jones
In the new millennium plastic money or credit cards has
rendered a new zing factor to your pocket. This has not only
made you economically more flexible but subsequently added
glamour to your financial image as well. No more bulging out hip
pockets with excess of liquid cash. Instead, the slimmer your
pocket; the smarter you look. But behind all these inviting
attributes of credit cards there seems to be a trap laid out for
people who are impulsive and careless
(http://www.debtconsolidationcare.com/avoidcardtraps.html)
The usage of credit cards have been on the highest spree this
decade and along with the usage, the debt rates has also
somersaulted sky high. Majority of the citizens of the U.S. owe
thousands of dollars as credit card bills. While gross dollar
volume on bank credit cards has increased 2.5 times since 1994,
the average transaction has increased about 16% over the past
decade. The average transaction on a general purpose credit
card, carrying the VISA, MasterCard, American Express, or
Discover brand, is now approaching $102, compared to $87 in
1994.
23rd Dec. 2004 is termed as Black Thursday and is poised to be
a voluminous day in credit card usage in 2004. On this day
Americans have used credit and debit cards to pay for nearly $12
billion. This computes to an average of more than $8 million per
minute; however it could easily top $20 million per minute
during peak hours.
In the present era credit card debt carried by an average
American is about $8,562 (Approx.). The total U.S. credit card
debt in the first quarter of 2002 was approximately $60 billion
(Approx.). Total finance charges Americans paid in 2001is $50
billion (Approx.).
Recently, the New York Times examined how the use of credit has
taken off dramatically in the United States since 1990. While
the number of people holding charge cards grew about 75 percent.
This went up from 82 million in 1990 to 144 million in 2003 and
the amount they charged during that period grew by a much larger
percentage. It is approximately 350 percent, from $338 billion
to $1.5 trillion.
Nellie Mae, the nation’s largest maker of student loans says
that the average undergraduate student has $2,200 in credit card
debt. That figure jumps to $5,800 for graduate students. David
Sandor, a vice president at Visa USA, says that only 54 percent
of college students pay off their credit card balances every
month.
The average credit card interest rate is around 18.9%.
Approximately half of all credit card holders pay only their
minimum monthly requirements. There are a total of 1.2 billion
credit and retail cards in North America. The number of credit
card holders who declared bankruptcy last year was a huge 1.3
million.
Credit cards have undoubtedly given us better mileage in
handling our finance; it has made us mobile and flexible in cash
handling. But it is extremely important to make proper
utilization of this plastic money. There lies a big black trench
of debts if you use it recklessly. These slim plastic cards can
often be the cause of bulk debts if one is impulsive or unwise.
For better insight in this topic please view:
http://www.debtconsolidationcare.com/card-starter.html
http://www.debtconsolidationcare.com/card-counseling.html
About the Author: Sarah Jones is a contributing writer to
http://www.debtconsolidationcare.com And is currently working on
a special section in the site called do it yourself where you
can eliminate your debts and become debt free... Email:
sarah@debtconsolidationcare.com
Source: http://www.isnare.com
By Sarah Jones
In the new millennium plastic money or credit cards has
rendered a new zing factor to your pocket. This has not only
made you economically more flexible but subsequently added
glamour to your financial image as well. No more bulging out hip
pockets with excess of liquid cash. Instead, the slimmer your
pocket; the smarter you look. But behind all these inviting
attributes of credit cards there seems to be a trap laid out for
people who are impulsive and careless
(http://www.debtconsolidationcare.com/avoidcardtraps.html)
The usage of credit cards have been on the highest spree this
decade and along with the usage, the debt rates has also
somersaulted sky high. Majority of the citizens of the U.S. owe
thousands of dollars as credit card bills. While gross dollar
volume on bank credit cards has increased 2.5 times since 1994,
the average transaction has increased about 16% over the past
decade. The average transaction on a general purpose credit
card, carrying the VISA, MasterCard, American Express, or
Discover brand, is now approaching $102, compared to $87 in
1994.
23rd Dec. 2004 is termed as Black Thursday and is poised to be
a voluminous day in credit card usage in 2004. On this day
Americans have used credit and debit cards to pay for nearly $12
billion. This computes to an average of more than $8 million per
minute; however it could easily top $20 million per minute
during peak hours.
In the present era credit card debt carried by an average
American is about $8,562 (Approx.). The total U.S. credit card
debt in the first quarter of 2002 was approximately $60 billion
(Approx.). Total finance charges Americans paid in 2001is $50
billion (Approx.).
Recently, the New York Times examined how the use of credit has
taken off dramatically in the United States since 1990. While
the number of people holding charge cards grew about 75 percent.
This went up from 82 million in 1990 to 144 million in 2003 and
the amount they charged during that period grew by a much larger
percentage. It is approximately 350 percent, from $338 billion
to $1.5 trillion.
Nellie Mae, the nation’s largest maker of student loans says
that the average undergraduate student has $2,200 in credit card
debt. That figure jumps to $5,800 for graduate students. David
Sandor, a vice president at Visa USA, says that only 54 percent
of college students pay off their credit card balances every
month.
The average credit card interest rate is around 18.9%.
Approximately half of all credit card holders pay only their
minimum monthly requirements. There are a total of 1.2 billion
credit and retail cards in North America. The number of credit
card holders who declared bankruptcy last year was a huge 1.3
million.
Credit cards have undoubtedly given us better mileage in
handling our finance; it has made us mobile and flexible in cash
handling. But it is extremely important to make proper
utilization of this plastic money. There lies a big black trench
of debts if you use it recklessly. These slim plastic cards can
often be the cause of bulk debts if one is impulsive or unwise.
For better insight in this topic please view:
http://www.debtconsolidationcare.com/card-starter.html
http://www.debtconsolidationcare.com/card-counseling.html
About the Author: Sarah Jones is a contributing writer to
http://www.debtconsolidationcare.com And is currently working on
a special section in the site called do it yourself where you
can eliminate your debts and become debt free... Email:
sarah@debtconsolidationcare.com
Source: http://www.isnare.com
Tuesday, July 24, 2007
Credit Card Machines 802 Home
Best Credit Card Processing Rates
By Shane Penrod
Everyone goes into business to make money, so why spend more of
your profits on expensive transaction fees, Website maintenance,
service agreements and high credit card processing rates? When
you take time to shop for the best deals, you can save quite a
bit of money that can be used to good purpose in other parts of
your business. Start shopping for the best credit card
processing rates and open a merchant account.
You will first need to find a reputable bank or credit union
that will agree to extend a merchant account to you for this
purpose. To get approved, you will need a solid credit history,
a reasonable business plan, and documentation to show that you
are able to manage the costs associated with credit card
processing rates. Typically, these include an installation fee
for credit card processing equipment, a monthly gateway fee for
your financial host, a transaction fee of a few cents per each
or an overall percentage total each month. You also may be
offered Website service that will entail a hosting fee, a
service contract cost, and a designer’s or updating service fee.
Be sure to carefully read the terms of any contract that you
receive. Never sign something that you don’t understand or with
which you cannot completely agree. Your company may have to pay
for a monthly minimum up to a certain number of transactions,
after which the balance for that month do not require additional
fees.
Credit card processing rates can vary by company or by
processor program. Some companies charge no installation fee,
while others require a one-time cost of a few hundred dollars,
depending on the program’s complexity. You may have to pay
between 15 and 25 cents per transaction, or you could opt to pay
a monthly percentage for the entire amount of business generated
by your credit card processing unit; this amount often falls
below 2%.
It is always a good idea to compare rates among competing
financial institutions. If you really like the services offered
by one merchant account company but prefer the lower rates of a
second company, tell the first one about the competitor’s lower
rates, and perhaps the first company will meet or beat the lower
cost in order to get your business. At first, you may want to
keep the customer’s interests in mind when shopping for credit
card processing rates. In other words, passing on the savings of
a particular program to your customers will keep them coming
back to do business with you. If your rates are too high or not
competitive enough, they may decide to take their business
elsewhere.
As you plan to set up your new credit card processing service
rates, it may help to let them know in advance that this program
is coming so they can prepare and perhaps even help to get the
word out to other potential customers. Then, after installing
your new credit card processor, you should not hear complaints
that anyone was blindsided or treated unfairly. If someone does
complain, politely remind them of the earlier notices.
When you are ready to start processing credit card payments,
don’t be tempted to go for the option with the most features or
the most sophisticated set-up. Opt for a system that will best
suit your company needs and your customers’ interests, as well
as offering the best credit card processing rates.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
Everyone goes into business to make money, so why spend more of
your profits on expensive transaction fees, Website maintenance,
service agreements and high credit card processing rates? When
you take time to shop for the best deals, you can save quite a
bit of money that can be used to good purpose in other parts of
your business. Start shopping for the best credit card
processing rates and open a merchant account.
You will first need to find a reputable bank or credit union
that will agree to extend a merchant account to you for this
purpose. To get approved, you will need a solid credit history,
a reasonable business plan, and documentation to show that you
are able to manage the costs associated with credit card
processing rates. Typically, these include an installation fee
for credit card processing equipment, a monthly gateway fee for
your financial host, a transaction fee of a few cents per each
or an overall percentage total each month. You also may be
offered Website service that will entail a hosting fee, a
service contract cost, and a designer’s or updating service fee.
Be sure to carefully read the terms of any contract that you
receive. Never sign something that you don’t understand or with
which you cannot completely agree. Your company may have to pay
for a monthly minimum up to a certain number of transactions,
after which the balance for that month do not require additional
fees.
Credit card processing rates can vary by company or by
processor program. Some companies charge no installation fee,
while others require a one-time cost of a few hundred dollars,
depending on the program’s complexity. You may have to pay
between 15 and 25 cents per transaction, or you could opt to pay
a monthly percentage for the entire amount of business generated
by your credit card processing unit; this amount often falls
below 2%.
It is always a good idea to compare rates among competing
financial institutions. If you really like the services offered
by one merchant account company but prefer the lower rates of a
second company, tell the first one about the competitor’s lower
rates, and perhaps the first company will meet or beat the lower
cost in order to get your business. At first, you may want to
keep the customer’s interests in mind when shopping for credit
card processing rates. In other words, passing on the savings of
a particular program to your customers will keep them coming
back to do business with you. If your rates are too high or not
competitive enough, they may decide to take their business
elsewhere.
As you plan to set up your new credit card processing service
rates, it may help to let them know in advance that this program
is coming so they can prepare and perhaps even help to get the
word out to other potential customers. Then, after installing
your new credit card processor, you should not hear complaints
that anyone was blindsided or treated unfairly. If someone does
complain, politely remind them of the earlier notices.
When you are ready to start processing credit card payments,
don’t be tempted to go for the option with the most features or
the most sophisticated set-up. Opt for a system that will best
suit your company needs and your customers’ interests, as well
as offering the best credit card processing rates.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Friday, July 20, 2007
Credit Card Macihnes 802 Home
Credit Card Processing
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Nowadays, almost all establishments accept credit card payments. This is because many consumers make their purchases using their credit cards, and establishments who do not accept credit card payments risks losing potential sales. Given this, it is then essential for any company that intends to sell products in the market to make sure that their stores can accept credit payments. There’s good news, though! Today, accepting credit cards is usually a fairly easy process because companies can gain access to the tools that they need to be able to process credit card payments from a number of sources.
Setting up a merchant account
The first step in accepting credit cards is setting up a merchant account. This will involve locating the right merchant account provider or credit card processor. Many businesses do this through the banks where they do their business banking. However, not all banks provide credit card processing services.
A good source of information is any trade associations that a business belongs to, which may have negotiated rates with a certain credit card processor that the business could contact. Another good source of leads is from other businesses that already accept credit card payments. On the other hand, given that most processors aggressively pursue clients especially start up companies, it is most likely that these processors will contact new business owners and offer them their services.
In deciding on which credit card processor to use, it is a good idea to employ canvassing strategies, which includes interviewing each credit processor and asking them questions that can help business owners pick the right processor. Some of these questions include asking them about their fees, their rates, and other services that they provide their clients. After which, business owners then should analyze which processor can give them the best deal for the credit card processing services that they are offering.
Nowadays, no business establishment should be without credit card processing capabilities. This is because given that most people make many of their purchases using their credit cards, establishments that do not accept credit card payments risk losing a significant number of sales. The good news is that today, the tools that businesses need to be able to accept credit card payments, which includes merchant accounts, are easily accessible, as there are a large number of companies that provide credit card processing services. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing&id=255743
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Nowadays, almost all establishments accept credit card payments. This is because many consumers make their purchases using their credit cards, and establishments who do not accept credit card payments risks losing potential sales. Given this, it is then essential for any company that intends to sell products in the market to make sure that their stores can accept credit payments. There’s good news, though! Today, accepting credit cards is usually a fairly easy process because companies can gain access to the tools that they need to be able to process credit card payments from a number of sources.
Setting up a merchant account
The first step in accepting credit cards is setting up a merchant account. This will involve locating the right merchant account provider or credit card processor. Many businesses do this through the banks where they do their business banking. However, not all banks provide credit card processing services.
A good source of information is any trade associations that a business belongs to, which may have negotiated rates with a certain credit card processor that the business could contact. Another good source of leads is from other businesses that already accept credit card payments. On the other hand, given that most processors aggressively pursue clients especially start up companies, it is most likely that these processors will contact new business owners and offer them their services.
In deciding on which credit card processor to use, it is a good idea to employ canvassing strategies, which includes interviewing each credit processor and asking them questions that can help business owners pick the right processor. Some of these questions include asking them about their fees, their rates, and other services that they provide their clients. After which, business owners then should analyze which processor can give them the best deal for the credit card processing services that they are offering.
Nowadays, no business establishment should be without credit card processing capabilities. This is because given that most people make many of their purchases using their credit cards, establishments that do not accept credit card payments risk losing a significant number of sales. The good news is that today, the tools that businesses need to be able to accept credit card payments, which includes merchant accounts, are easily accessible, as there are a large number of companies that provide credit card processing services. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing&id=255743
Wednesday, July 18, 2007
Credit Card Machines 802 Home
Credit Card Charges Set To Fall
By John Edmond
In the UK the 8 largest credit card providers have been ordered
to reduce their charges, for default and late payment, by
between 40 and 50%. The current late payment charge by most
major issuers is between £20 - £25 ($30 - $40 US) and the have
been instructed to slash that down to £12 -£15 UK ($18 - $20
US).
The UK Office of Fair trading, who have been investigating
credit card charges for the last few months, stated "The OFT
considers that, in a consumer contract, a default charge is
likely to be disproportionately high if it is more than a
genuine pre-estimate of the damages that the card issuer would
win in court if it sued the cardholder for breach of contract,"
adding "The OFT's provisional view is that the levels of the
default charges imposed by the credit card companies need to be
reduced in order to be fair."
In the opinion of the OFT the current charges of between £20
and £25 excessive and possibly illegal and has given the card
issuers 3 months to respond.
Whilst the current ruling is provisional it is expected that
the final ruling will apply to all credit card issuers in the UK
and, if necessary, the OFT will take a test case to the UK
courts for a ruling forcing the banks to comply.
Once applied to credit cards the decision will also apply to
overdrafts, store cards and mortgages.
Estimates on what this will cost the banks vary from 400
million to 1 billion UKP - up to 50% of the profits earned on
credit cards. In recent results the big 5 banks in the UK
declared record overall profits of £33 billion, so they can
easily reduce these charges.
Matt Barrett, the former chief executive of Barclays, famously
once told MPs that he didn't use credit cards because they were
"too expensive". Whilst the ruling is intended to reduce costs
to customers it's likely that the banks will other find ways to
keep the costs high.
It is already clear that lenders are not great fans of interest
free balance transfers as most have applied a 2 - 3%
administrative charge. Expect this trend to continue and
possibly for the interest free transfers to disappear
altogether.
Expect an increase in the number of cards carrying an annual
fee and for the annual fee on current cards to increase. Further
adjustments could include the disappearance of cashback and a
reduction in free services, travel insurance, flights, holidays
and other promotions.
Though this ruling applies to the UK only, once it is enforced
card issuers around the World will be under pressure to follow
and countries with strong consumer protection legislation may
follow the OFT's lead.
This is therefore an ideal time to review your current credit
cards and take advantage of offers while they last.
If you have a credit card debt, which is rolled over each
month, take advantage now of the interest free offers currently
available. Read the small print, some carry a 2-3% charge, avoid
these as there are still a few interest free transfer offers
which do not have the administration charge.
If you repay your cards in full each month take a look at the
cards offering cashback and get a discount on your purchases
while it still exists.
If you have a balance which will take years rather than months
to repay look at the permanent low interest cards or even better
look at debt consolidation and move the debt to a low interest
loan or mortgage.
Credit cards are an expensive form of long term borrowing. This
ruling, whilst welcome, may herald the start of a restructuring
of credit cards and where they will end is very uncertain.
About the Author: John worked for many years in insurance and
finance and now writes on credit cards and debt management. For
advice on credit cards and debt management go to
http://www.card-debt.net or
http://www.consolidation-loan-advice.info
Source: http://www.isnare.com
By John Edmond
In the UK the 8 largest credit card providers have been ordered
to reduce their charges, for default and late payment, by
between 40 and 50%. The current late payment charge by most
major issuers is between £20 - £25 ($30 - $40 US) and the have
been instructed to slash that down to £12 -£15 UK ($18 - $20
US).
The UK Office of Fair trading, who have been investigating
credit card charges for the last few months, stated "The OFT
considers that, in a consumer contract, a default charge is
likely to be disproportionately high if it is more than a
genuine pre-estimate of the damages that the card issuer would
win in court if it sued the cardholder for breach of contract,"
adding "The OFT's provisional view is that the levels of the
default charges imposed by the credit card companies need to be
reduced in order to be fair."
In the opinion of the OFT the current charges of between £20
and £25 excessive and possibly illegal and has given the card
issuers 3 months to respond.
Whilst the current ruling is provisional it is expected that
the final ruling will apply to all credit card issuers in the UK
and, if necessary, the OFT will take a test case to the UK
courts for a ruling forcing the banks to comply.
Once applied to credit cards the decision will also apply to
overdrafts, store cards and mortgages.
Estimates on what this will cost the banks vary from 400
million to 1 billion UKP - up to 50% of the profits earned on
credit cards. In recent results the big 5 banks in the UK
declared record overall profits of £33 billion, so they can
easily reduce these charges.
Matt Barrett, the former chief executive of Barclays, famously
once told MPs that he didn't use credit cards because they were
"too expensive". Whilst the ruling is intended to reduce costs
to customers it's likely that the banks will other find ways to
keep the costs high.
It is already clear that lenders are not great fans of interest
free balance transfers as most have applied a 2 - 3%
administrative charge. Expect this trend to continue and
possibly for the interest free transfers to disappear
altogether.
Expect an increase in the number of cards carrying an annual
fee and for the annual fee on current cards to increase. Further
adjustments could include the disappearance of cashback and a
reduction in free services, travel insurance, flights, holidays
and other promotions.
Though this ruling applies to the UK only, once it is enforced
card issuers around the World will be under pressure to follow
and countries with strong consumer protection legislation may
follow the OFT's lead.
This is therefore an ideal time to review your current credit
cards and take advantage of offers while they last.
If you have a credit card debt, which is rolled over each
month, take advantage now of the interest free offers currently
available. Read the small print, some carry a 2-3% charge, avoid
these as there are still a few interest free transfer offers
which do not have the administration charge.
If you repay your cards in full each month take a look at the
cards offering cashback and get a discount on your purchases
while it still exists.
If you have a balance which will take years rather than months
to repay look at the permanent low interest cards or even better
look at debt consolidation and move the debt to a low interest
loan or mortgage.
Credit cards are an expensive form of long term borrowing. This
ruling, whilst welcome, may herald the start of a restructuring
of credit cards and where they will end is very uncertain.
About the Author: John worked for many years in insurance and
finance and now writes on credit cards and debt management. For
advice on credit cards and debt management go to
http://www.card-debt.net or
http://www.consolidation-loan-advice.info
Source: http://www.isnare.com
Friday, July 13, 2007
Credit Card Machines 802 Home
Credit Card Processing On The Internet
By Ted Roxan
So you have finally finished your e-commerce web site, hired
the best web publisher, added all the bells and whistles,
outstanding graphics, and great merchandise. Now, how does your
prospective customer pay you for your products? Clearly, it is
necessary for your site to accept, and process credit card
payments, in real time. Failure to do so, would result in a
failing enterprise.
Before you can begin the application process, there are several
standards that all credit card processors have set. Follow this
checklist and you will save yourself a significant amount of
time, and aggravation.
1) The checkout, and transaction pages must be secure. This
protects the customer from credit card, or identity fraud,
which has become epidemic. You achieve this “security” by
installing a secure socket layer certificate, or SSL. SSL
encrypts information being entered on your site as it is sent
across the Internet, so hackers are unable to steal the
transmitted information. This Certificate has become very
common, and any web host would be able to assist you.
2) A robust Shopping Cart software that utilizes the highest
degree of security, and is compatible with the credit card
processor. This program must be able to receive, and process
orders. Collect personal data, and securely transmit the credit
card data from software to the credit card processor. Most
importantly, the software should provide the building blocks
for a complete, successful customer experience.
3) Your server must have a firewall, especially if you plan on
storing the credit card information on your server. Basically,
a firewall is a combination of software, and hardware, that
inspects incoming data, and filters unwanted, or potentially
destructive packets of information. This firewall will not
allow hackers to enter your server, and steal sensitive
information.
When all these conditions have been met, you are ready to
contact your bank to open a credit card merchant’s account.
Once your account is opened, your bank will suggest a credit
card Gateway. A credit card Gateway receives the customer’s
credit card information from your web site, approves or
declines the charge, and ultimately transmits money to your
bank.
Although the process appears to be very complicated, it is
quite straightforward when you know what you are doing. Plan
ahead, avoid frustration, and provide your customers with an
easy, secure experience that will make them come back for more.
About the Author: Ted Roxan is a contributing editor of
Internet Credit Card Processing Resource. For more details on
Internet merchant accounts and Credit Card processors go to:
http://myinternet-credit-card-processing.com/
Source: http://www.isnare.com
By Ted Roxan
So you have finally finished your e-commerce web site, hired
the best web publisher, added all the bells and whistles,
outstanding graphics, and great merchandise. Now, how does your
prospective customer pay you for your products? Clearly, it is
necessary for your site to accept, and process credit card
payments, in real time. Failure to do so, would result in a
failing enterprise.
Before you can begin the application process, there are several
standards that all credit card processors have set. Follow this
checklist and you will save yourself a significant amount of
time, and aggravation.
1) The checkout, and transaction pages must be secure. This
protects the customer from credit card, or identity fraud,
which has become epidemic. You achieve this “security” by
installing a secure socket layer certificate, or SSL. SSL
encrypts information being entered on your site as it is sent
across the Internet, so hackers are unable to steal the
transmitted information. This Certificate has become very
common, and any web host would be able to assist you.
2) A robust Shopping Cart software that utilizes the highest
degree of security, and is compatible with the credit card
processor. This program must be able to receive, and process
orders. Collect personal data, and securely transmit the credit
card data from software to the credit card processor. Most
importantly, the software should provide the building blocks
for a complete, successful customer experience.
3) Your server must have a firewall, especially if you plan on
storing the credit card information on your server. Basically,
a firewall is a combination of software, and hardware, that
inspects incoming data, and filters unwanted, or potentially
destructive packets of information. This firewall will not
allow hackers to enter your server, and steal sensitive
information.
When all these conditions have been met, you are ready to
contact your bank to open a credit card merchant’s account.
Once your account is opened, your bank will suggest a credit
card Gateway. A credit card Gateway receives the customer’s
credit card information from your web site, approves or
declines the charge, and ultimately transmits money to your
bank.
Although the process appears to be very complicated, it is
quite straightforward when you know what you are doing. Plan
ahead, avoid frustration, and provide your customers with an
easy, secure experience that will make them come back for more.
About the Author: Ted Roxan is a contributing editor of
Internet Credit Card Processing Resource. For more details on
Internet merchant accounts and Credit Card processors go to:
http://myinternet-credit-card-processing.com/
Source: http://www.isnare.com
Monday, July 9, 2007
Credit Card Machines 802 Home
Credit Card Lingo
By Max Hunter
Knowing What’s Out There – And What To Choose
The World of finance can be a tricky game for both the seasoned
veteran and the novice borrower. Banks can – by accident or
design – make even the most simple information seem complicated
and through this unwittingly (or not) induce their customers to
go for products that might not be best suited to their needs.
Credit, charge, ATM and debit cards are not all alike. Although
you might think that they are basically the same thing – a way
of making payment for purchases or means of getting cash – they
are actually quite different. So as to use these cards wisely,
you should know what each one is and how it differs from the
others. Here’s some information to help you choose wisely.
Credit Cards
Credit cards can be a great way of paying for a purchase. They
are easy to apply for, easy to use, and flexible in their
repayment options. However, if you carry a balance, credit
cards can be like very expensive loans.
A credit card works like this: the credit card company supplies
you with a card; you use that card to pay for items and services
up to a certain total amount -- your credit ‘limit.’ The store
or service provider then collects what you owe from the card
issuer, whom you repay. You're then allowed to pay off as much
or almost as little as you like off the balance each month, so
long as you pay a minimum amount each time (usually 2.5 per
cent).
On the outstanding balance you’re charged interest (which can
be as high as 25% or more each year) at the end of each monthly
period, unless you pay the full balance each time your bill
arrives.
Credit cards are immensely profitable for issuers for a variety
of reasons. The high rate of interest yields issuing banks and
companies vast profits – in some cases the bulk of an
institution’s earnings. In addition to the interest, many
companies charge an annual membership fee for a credit card, as
well as a plethora of other charges, including late fees,
over-the-limit fees and other miscellaneous charges. Companies
also profit by charging stores a fee each time a customer uses
a credit card in their establishment.
There are three different types of credit card available:
Unsecured Credit Cards
These cards are commonly made available to those with good
credit history and credit score. These cards require no bank
deposit amounts to secure and usually have no annual fees and
low rate of interest.
Higher Risk Credit Cards
These cards are usually given to people who have a lower paying
job, and/or poor credit history and credit score. Often these
cards charge an activation fee, and also usually charge an
annual fee of up to $80.
Secured Credit Cards
These cards are given to people who have a lower paying job,
and/or a very poor credit history and credit score. Often these
cards require a deposit to be made to the lender, sometimes as
much as near or equal to the amount of credit available on the
card. If the borrower can prove their credit worthiness over
time, that credit limit is then upped. These cards also attract
a high annual fee of up to $100 and charge high rates of
interest.
Charge Cards
Charge cards (also known as travel and entertainment cards) are
slightly from credit cards. The most famous charge cards, such
as American Express and Diners Club, have an unlimited credit
limit. Normally you can charge as much as you like, but you are
required to pay off your balance in full when your bill arrives.
There’s one exception to this: If you charge air fare, cruise
fees or hotel charges booked through a travel agent on an
American Express card, you have an option to pay off your
balance over 36 months. There’s a sting in the tail, however:
you'll be charged around 20 per cent interest and will have to
make minimum monthly payments of $20.
The way charge card companies like American Express make their
profits is by charging very high annual fees – up to $100 – and
by hitting merchants with relatively high charges each time a
customer pays using their card.
If you don't pay your charge card bill in full (unless the
charges are travel expenses on an American Express card),
you'll get a one-month period of grace, when no interest is
charged. Beyond that, however, you'll be charged interest,
which weighs in at about 18 per cent. After about three months,
if your account is still not settled, your account will be
closed and your bill sent to the collections department.
Cash Advances
Some people use their credit or charge cards to obtain cash
advances. This can be an expensive way of accessing cash. Most
banks charge a transaction fee that can be as much as 4% for
taking a cash advance. Interest is also charged from the date
the cash advance is posted, even if it’s paid back in full when
your bill arrives. Moreover, the interest rate is usually higher
on cash advances than on ordinary credit card charges.
ATM & Debit Cards
ATM and debit cards offer most of the same functions as credit
and charge cards, but the crucial difference is that the money
comes out of your bank account straight away. If you don’t have
the money, you can’t buy the product.
For some people this is a preferable option: they like to keep
track of their outgoings, to keep tabs on what they’ve spent,
to avoid any sort of debt – no matter how brief.
There are disadvantages to using debit cards. It doesn’t give
you the option of up to a month to settle your statement. You
also don't have the right to withhold payment with a debit card
(the money is immediately removed from the account) in the event
of a dispute with the merchant over the goods or services paid
for. Some banks and merchants also charge transaction fees for
the use of debit cards.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Max Hunter
Knowing What’s Out There – And What To Choose
The World of finance can be a tricky game for both the seasoned
veteran and the novice borrower. Banks can – by accident or
design – make even the most simple information seem complicated
and through this unwittingly (or not) induce their customers to
go for products that might not be best suited to their needs.
Credit, charge, ATM and debit cards are not all alike. Although
you might think that they are basically the same thing – a way
of making payment for purchases or means of getting cash – they
are actually quite different. So as to use these cards wisely,
you should know what each one is and how it differs from the
others. Here’s some information to help you choose wisely.
Credit Cards
Credit cards can be a great way of paying for a purchase. They
are easy to apply for, easy to use, and flexible in their
repayment options. However, if you carry a balance, credit
cards can be like very expensive loans.
A credit card works like this: the credit card company supplies
you with a card; you use that card to pay for items and services
up to a certain total amount -- your credit ‘limit.’ The store
or service provider then collects what you owe from the card
issuer, whom you repay. You're then allowed to pay off as much
or almost as little as you like off the balance each month, so
long as you pay a minimum amount each time (usually 2.5 per
cent).
On the outstanding balance you’re charged interest (which can
be as high as 25% or more each year) at the end of each monthly
period, unless you pay the full balance each time your bill
arrives.
Credit cards are immensely profitable for issuers for a variety
of reasons. The high rate of interest yields issuing banks and
companies vast profits – in some cases the bulk of an
institution’s earnings. In addition to the interest, many
companies charge an annual membership fee for a credit card, as
well as a plethora of other charges, including late fees,
over-the-limit fees and other miscellaneous charges. Companies
also profit by charging stores a fee each time a customer uses
a credit card in their establishment.
There are three different types of credit card available:
Unsecured Credit Cards
These cards are commonly made available to those with good
credit history and credit score. These cards require no bank
deposit amounts to secure and usually have no annual fees and
low rate of interest.
Higher Risk Credit Cards
These cards are usually given to people who have a lower paying
job, and/or poor credit history and credit score. Often these
cards charge an activation fee, and also usually charge an
annual fee of up to $80.
Secured Credit Cards
These cards are given to people who have a lower paying job,
and/or a very poor credit history and credit score. Often these
cards require a deposit to be made to the lender, sometimes as
much as near or equal to the amount of credit available on the
card. If the borrower can prove their credit worthiness over
time, that credit limit is then upped. These cards also attract
a high annual fee of up to $100 and charge high rates of
interest.
Charge Cards
Charge cards (also known as travel and entertainment cards) are
slightly from credit cards. The most famous charge cards, such
as American Express and Diners Club, have an unlimited credit
limit. Normally you can charge as much as you like, but you are
required to pay off your balance in full when your bill arrives.
There’s one exception to this: If you charge air fare, cruise
fees or hotel charges booked through a travel agent on an
American Express card, you have an option to pay off your
balance over 36 months. There’s a sting in the tail, however:
you'll be charged around 20 per cent interest and will have to
make minimum monthly payments of $20.
The way charge card companies like American Express make their
profits is by charging very high annual fees – up to $100 – and
by hitting merchants with relatively high charges each time a
customer pays using their card.
If you don't pay your charge card bill in full (unless the
charges are travel expenses on an American Express card),
you'll get a one-month period of grace, when no interest is
charged. Beyond that, however, you'll be charged interest,
which weighs in at about 18 per cent. After about three months,
if your account is still not settled, your account will be
closed and your bill sent to the collections department.
Cash Advances
Some people use their credit or charge cards to obtain cash
advances. This can be an expensive way of accessing cash. Most
banks charge a transaction fee that can be as much as 4% for
taking a cash advance. Interest is also charged from the date
the cash advance is posted, even if it’s paid back in full when
your bill arrives. Moreover, the interest rate is usually higher
on cash advances than on ordinary credit card charges.
ATM & Debit Cards
ATM and debit cards offer most of the same functions as credit
and charge cards, but the crucial difference is that the money
comes out of your bank account straight away. If you don’t have
the money, you can’t buy the product.
For some people this is a preferable option: they like to keep
track of their outgoings, to keep tabs on what they’ve spent,
to avoid any sort of debt – no matter how brief.
There are disadvantages to using debit cards. It doesn’t give
you the option of up to a month to settle your statement. You
also don't have the right to withhold payment with a debit card
(the money is immediately removed from the account) in the event
of a dispute with the merchant over the goods or services paid
for. Some banks and merchants also charge transaction fees for
the use of debit cards.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Monday, May 14, 2007
Credit Card Machines 802 Home
Could A Fraudster Be Using Your Credit Card?
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Credit Card Machines 802 Home
Could A Fraudster Be Using Your Credit Card?
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Saturday, May 12, 2007
Credit Card Machines 802 Home
How Is Secure Debit Card Processing Done?
By Stephen Chua
There is a steady upward trend that more people are now using debit cards to make their purchase than ever before. Another indication is that many of the banks are providing their customers with a check card that is branded by a card association. They are also looking to provide them with ones that are backed by a debit network, which will provide customers with more flexibility with regard to payment options.
A debit card does not work the same way as a credit card with regard to payment. When a debit card is used for any purchase, the full amount of money spent is deducted from the bank account of the cardholder immediately. In some cases, the deduction may occur within a few days after the transaction is completed.
Debit cards are being processed using the chip and pin service. This is being used in many countries today and is strongly encouraged by many banks as a method of reducing cloned card fraud. In fact, in some countries, no longer will a customer be able to make a purchase without the use of a PIN. The Point of Sale terminal in use is also unable to read the chip on the debit card if a PIN is not entered prior to usage. In this respect, it is actually safer to use a debit card than credit card for your purchases.
There are many reasons today why so many merchants are looking for reliable companies which can provide them with secure debit card processing. In fact, there are plenty of companies offering this type of service at reasonable cost now. There are plenty of benefits to be had from using a secure debit card and below are just a few of them.
1. They will monitor and track any fraudulent transactions in order to minimize any potential losses to your business.
2. They provide assistance to resolve any disputed transactions.
3. Reputable and reliable debit card issuers will provide you with details of their fees and agreement terms.
4. They provide a business with clear and simple monthly statements of all debit card processing transactions made. These statements will be sorted by date or card type to enable a business owner to review them online.
5. They will provide chargeback and retrieval activity so that you can have a complete history of all your business past and current financial activities.
6. They provide concise information regarding deposits including both summaries and details, which will contain the date, debit and credit numbers as well as the amounts paid.
In summary, a debit card will enable the cardholder to make purchase in the same way as a credit card but the cost of purchase is charged directly to the holder's bank account. It provides the same convenience of a credit card without the risk of accumulating credit card debt.
Stephen Chua is the founder of FindCreditCardsInfo.com, where you can find more debit cards details. You can maintain tight control on your budget just by using a debit card. Apply for one today at http://FindCreditCardsInfo.com.
Article Source: http://EzineArticles.com/?expert=Stephen_Chua
http://EzineArticles.com/?How-Is-Secure-Debit-Card-Processing-Done?&id=482112
By Stephen Chua
There is a steady upward trend that more people are now using debit cards to make their purchase than ever before. Another indication is that many of the banks are providing their customers with a check card that is branded by a card association. They are also looking to provide them with ones that are backed by a debit network, which will provide customers with more flexibility with regard to payment options.
A debit card does not work the same way as a credit card with regard to payment. When a debit card is used for any purchase, the full amount of money spent is deducted from the bank account of the cardholder immediately. In some cases, the deduction may occur within a few days after the transaction is completed.
Debit cards are being processed using the chip and pin service. This is being used in many countries today and is strongly encouraged by many banks as a method of reducing cloned card fraud. In fact, in some countries, no longer will a customer be able to make a purchase without the use of a PIN. The Point of Sale terminal in use is also unable to read the chip on the debit card if a PIN is not entered prior to usage. In this respect, it is actually safer to use a debit card than credit card for your purchases.
There are many reasons today why so many merchants are looking for reliable companies which can provide them with secure debit card processing. In fact, there are plenty of companies offering this type of service at reasonable cost now. There are plenty of benefits to be had from using a secure debit card and below are just a few of them.
1. They will monitor and track any fraudulent transactions in order to minimize any potential losses to your business.
2. They provide assistance to resolve any disputed transactions.
3. Reputable and reliable debit card issuers will provide you with details of their fees and agreement terms.
4. They provide a business with clear and simple monthly statements of all debit card processing transactions made. These statements will be sorted by date or card type to enable a business owner to review them online.
5. They will provide chargeback and retrieval activity so that you can have a complete history of all your business past and current financial activities.
6. They provide concise information regarding deposits including both summaries and details, which will contain the date, debit and credit numbers as well as the amounts paid.
In summary, a debit card will enable the cardholder to make purchase in the same way as a credit card but the cost of purchase is charged directly to the holder's bank account. It provides the same convenience of a credit card without the risk of accumulating credit card debt.
Stephen Chua is the founder of FindCreditCardsInfo.com, where you can find more debit cards details. You can maintain tight control on your budget just by using a debit card. Apply for one today at http://FindCreditCardsInfo.com.
Article Source: http://EzineArticles.com/?expert=Stephen_Chua
http://EzineArticles.com/?How-Is-Secure-Debit-Card-Processing-Done?&id=482112
Friday, May 11, 2007
Credit Card Machines 802 Home
Taking Advantage of Online Offers Without Giving Up Your Credit Card Info
By Jeffrey Solochek
My wife works for the local BlockBuster video in town and they are supposed to get people to sign up for an online account but the problem is that a lot of people are afraid to sign up for these things because of fear of having to put their credit card info on the form. With the world coming online credit card fraud is on the increase. How are we able to take advantage of the savings from these online offers without having to give up our personal credit card information?
Whenever I sign up for anything that says it is going to deduct from a credit card I get one of those prepaid credit cards and only put enough on the card to take care of any online obligations. This way I don't have to worry about additional charges or somebody hacking into this companies computers and getting all my information. You would think that stores like Blockbuster Video would sell prepaid credit cards in their stores so that they could offer this option to customers thus increasing the number of online accounts they are taking every day.
Prepaid credit cards is a great way to eliminate the fear of online purchases.. Even when purchasing from a site like Ebay you can make use of these prepaid credit cards. I have very rarely found a site that won't accept the use of a prepaid card. The only card I have ever had refused was one of those prepaid American Express gift cards. My GreenDot card has never been turned down and they don't charge a transaction fee like a lot of cards do.
Another option would be to set up a small savings account at your local bank and get a Visa debit card. The only thing I don't like about these debit cards is it is very hard to ever dispute a transaction on them. A regular credit card will give you usually about 30 days to dispute a transaction whereas Discover card says they will give you 90 days and a friend of mine who has an American Express card says they will allow him to dispute a transaction for a year.
Now I did have a Discover card at one time and I used it to by some software. The software was defective so I disputed the transaction but all Discover Card cared about was that I had received the software. They stated that they did not care that the software did not work that if that were the case I should dispute it directly with the merchant.
Jeffrey has over 2 decades experience in the business world. When he writes he blends his unique wit and humour into every article which if you read his blog you can see all of his many works. http://www.nosugarcoating.info
Article Source: http://EzineArticles.com/?expert=Jeffrey_Solochek
http://EzineArticles.com/?Taking-Advantage-of-Online-Offers-Without-Giving-Up-Your-Credit-Card-Info&id=493993
By Jeffrey Solochek
My wife works for the local BlockBuster video in town and they are supposed to get people to sign up for an online account but the problem is that a lot of people are afraid to sign up for these things because of fear of having to put their credit card info on the form. With the world coming online credit card fraud is on the increase. How are we able to take advantage of the savings from these online offers without having to give up our personal credit card information?
Whenever I sign up for anything that says it is going to deduct from a credit card I get one of those prepaid credit cards and only put enough on the card to take care of any online obligations. This way I don't have to worry about additional charges or somebody hacking into this companies computers and getting all my information. You would think that stores like Blockbuster Video would sell prepaid credit cards in their stores so that they could offer this option to customers thus increasing the number of online accounts they are taking every day.
Prepaid credit cards is a great way to eliminate the fear of online purchases.. Even when purchasing from a site like Ebay you can make use of these prepaid credit cards. I have very rarely found a site that won't accept the use of a prepaid card. The only card I have ever had refused was one of those prepaid American Express gift cards. My GreenDot card has never been turned down and they don't charge a transaction fee like a lot of cards do.
Another option would be to set up a small savings account at your local bank and get a Visa debit card. The only thing I don't like about these debit cards is it is very hard to ever dispute a transaction on them. A regular credit card will give you usually about 30 days to dispute a transaction whereas Discover card says they will give you 90 days and a friend of mine who has an American Express card says they will allow him to dispute a transaction for a year.
Now I did have a Discover card at one time and I used it to by some software. The software was defective so I disputed the transaction but all Discover Card cared about was that I had received the software. They stated that they did not care that the software did not work that if that were the case I should dispute it directly with the merchant.
Jeffrey has over 2 decades experience in the business world. When he writes he blends his unique wit and humour into every article which if you read his blog you can see all of his many works. http://www.nosugarcoating.info
Article Source: http://EzineArticles.com/?expert=Jeffrey_Solochek
http://EzineArticles.com/?Taking-Advantage-of-Online-Offers-Without-Giving-Up-Your-Credit-Card-Info&id=493993
Thursday, May 10, 2007
Credit Card Machines 802 Home
Low Cost Credit Card Processing
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Low-Cost-Credit-Card-Processing&id=353157
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Low-Cost-Credit-Card-Processing&id=353157
Wednesday, May 9, 2007
Credit Card Machines 802 Home
What You Need To Know About 'Chip And Pin' Credit Card Machines
18th November 2006
Author: Chris Sinclair
Nearly every store is now upgrading to the 'chip and pin' system that credit card companies have recently introduced. This new system is a more effective way to keep your credit cards and the information stored on them safe and secure. These machines are much safer than signing your name on a receipt.
These new chip and pin machines are simple to use and help to prevent scammers from stealing your credit card information. When using one of these new credit card machines, simply swipe your card through the machine, Then, when instructed to do so on the screen display, enter your PIN number. Typically, these machines will have a small barrier that covers your hand as you type so that anyone trying to see you type your PIN will not be able to do so.
These machines help prevent credit card fraud in other ways, too. For example, in the past credit card fraud occured frequently in restaurants. When a customer would pay for their meal by credit card, the card would be out of their sight when the waiter took the card to the cashier. When processing these credit card payments some cashiers would add a small additional amount to the bill during the credit authorization process. Once the charge was authorized by the credit card company the cashier would pocket the difference between the amount of the meal and the authorized amount.
Now many restaurants have installed wireless credit card machines, so you don't have to let your credit card leave the table. The waiter will simply bring the machine over and you can swipe the card through and then enter your PIN, safe in the knowledge that no one else can see you enter your PIN.
These chip and pin credit card machines make life for the consumer much easier. They have also made the life of the scammer a lot more difficult. Chip and pin is the new way to protect your credit card details and if the service stays as effective as it is now, we will be seeing a lot more disgruntled scammers and a lot more happy consumers in the future.
This article is free for republishing
Source: http://www.a1articles.com/article_106602_19.html
18th November 2006
Author: Chris Sinclair
Nearly every store is now upgrading to the 'chip and pin' system that credit card companies have recently introduced. This new system is a more effective way to keep your credit cards and the information stored on them safe and secure. These machines are much safer than signing your name on a receipt.
These new chip and pin machines are simple to use and help to prevent scammers from stealing your credit card information. When using one of these new credit card machines, simply swipe your card through the machine, Then, when instructed to do so on the screen display, enter your PIN number. Typically, these machines will have a small barrier that covers your hand as you type so that anyone trying to see you type your PIN will not be able to do so.
These machines help prevent credit card fraud in other ways, too. For example, in the past credit card fraud occured frequently in restaurants. When a customer would pay for their meal by credit card, the card would be out of their sight when the waiter took the card to the cashier. When processing these credit card payments some cashiers would add a small additional amount to the bill during the credit authorization process. Once the charge was authorized by the credit card company the cashier would pocket the difference between the amount of the meal and the authorized amount.
Now many restaurants have installed wireless credit card machines, so you don't have to let your credit card leave the table. The waiter will simply bring the machine over and you can swipe the card through and then enter your PIN, safe in the knowledge that no one else can see you enter your PIN.
These chip and pin credit card machines make life for the consumer much easier. They have also made the life of the scammer a lot more difficult. Chip and pin is the new way to protect your credit card details and if the service stays as effective as it is now, we will be seeing a lot more disgruntled scammers and a lot more happy consumers in the future.
This article is free for republishing
Source: http://www.a1articles.com/article_106602_19.html
Tuesday, May 8, 2007
Credit Card Machines 802 Home
Understanding Online Payments by Robert Levings
UNDERSTANDING ONLINE PAYMENTS By Robert Levings, President, EasyPay123
Internet Payment Options
There has been much talk about how the Internet is becoming an important channel for buying and selling products and services. Companies are looking to exploit the Internet in a variety of ways to increase sales to both existing customers and to customers in new markets.
To make these initiatives work in practice requires the application of a range of technologies, from servers to software. An increasingly-critical piece of the e-commerce equation is the ability to pay for goods and services using Internet-based applications.
Internet-based payments offer the benefit of convenience to customers who can pay for their products or services and receive immediate feedback on the status of their payment. Well thought-out payment interfaces will address the payment needs of the bulk of your customers, and offer them valuable features such as electronic receipts, recurring billing options and more. For merchants, online payments can mean that bad debts are reduced and cash flow is improved, improving the bottom line of your business.
The type of payment that you choose will be dependent on your customers' needs and the type of business that you operate.
E-Commerce Payment Types
Many types of payments can be used in online transactions (here we refer to those transactions that use the Internet as the communications channel). The major types include:
EFT: Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands. It provides a means of transferring funds to and from customers and business partners. Electronic cheques: Different types of electronic cheque services are available, but all essentially provide a mechanism for paying over the Internet by enabling purchasers to use their existing chequing accounts to transfer funds to another party. A secure infrastructure ensures that confidential information is not compromised in transit.
Debit cards: Wildly popular for "bricks and mortar" purchases, they have not caught on as a mechanism for Internet purchases because the banks and payment processors have only certified a limited number of devices for transmitting the PIN Number associated with a debit card over the internet. Limited pilots are underway using wireless debit card devices for applications such as pizza deliveries and taxis.
Credit cards: Still the dominant online payment type, it is popular because of its ubiquity and the familiarity that customers have in using them in a variety of settings.
Internet banking: Some businesses (typically large ones such as telephone companies) enable customers to transfer funds from their bank account to pay bills. Online bill payments are usually facilitated by the major banks where you can log on and pay your bills at your convenience.
Alternative payment types: A large number of niche payment types have arisen over the past few years (typically with minimal or no success). These include stored value cards, Internet (digital) cash, pseudo-currencies (e.g. Flooz) and others. No doubt at some point one or more of these payment types will gain a foothold, but none have sufficient critical mass at this time to be a viable alternative for most merchants.
For the purposes of the rest of this article, we will focus on credit card payments, which represent a substantial amount (95%+) of the payments being processed over the Internet today.
Getting Started with Credit Card Processing
If you are a merchant that is looking to accept credit card payments, there are a few steps that you should follow to ensure a successful implementation. None of them are difficult, but some can take time to complete. It is recommended that you follow each of the steps in sequence to avoid compatibility issues between your application and the financial network.
Let's examine each step in order:
1. Determine the Right Payment Interface
The payment interface is the application that you are going to use to process credit card payments. There are many options available to you, and the right choice will be dictated by the type of business you have and the requirements of your customers. Some of the more popular interface options include:
Shopping cart _______
Useful When …Your customers may be purchasing multiple items from you in a single purchase Make Sure That … You understand the features that you need and that you purchase from a reputable vendor ________
A shopping cart enables merchants to accept payment for multiple items in a single transaction. Most online retailers that offer a variety of products use some type of shopping cart application. Shopping carts typically provide customers with a number of convenient features, such as an electronic "shopping basket" to "hold" their goods until purchase.
Shopping carts offer a wide range of possible advantages to merchants as well, such as automated shipping and tax calculation; "back-office" tools for payment and inventory management; reporting tools; coupons and discount functions and control over individual and store-wide sales.
Shopping cart software can be purchased and "hosted" by the merchant on a server of their choice, but most merchants choose to use the services of a shopping cart service provider. Costs typically include set-up fees and monthly fees, in addition to your payment gateway fees. Many shopping cart providers offer different levels of feature packages, with fees based on the chosen feature level. Before you invest in a shopping cart application, understand what features are important to you and to your customers. Make sure that the service provider is reputable and is going to be around for a while. Switching service providers can be expensive, time consuming and frustrating. Your research will pay off in the long run.
"Buy Button" ___________
Useful When … You only have a few products to sell or your customers only purchase one product or service at a time Make Sure That … The customer buying experience is "seamless" and secure ___________
A "buy button" is similar to a shopping cart, but typically facilitates the purchase of only one product (or service). It generally consists of simple html code that you insert into your site that displays an order form with associated product information. Customers click on the buy button, and an order form appears with the relevant order information in it. Customers enter their shipping and credit card information in the form, press "submit", and their order is processed.
Be aware that some buy button applications force customers to be "transported" to another page that has a different look and feel from your site. Some customers are uncomfortable with this, and may abandon the sale if this happens. Again, shop around. Talk to your payment gateway provider. It will pay off.
Virtual Point of Sale (VPOS) ___________
Useful When … You are processing payments that are coming in by phone, fax or email Make Sure That … You have a mechanism to reconcile VPOS payments to bank deposits ___________
A virtual point of sale application (VPOS) is a replacement for traditional hardware-based POS terminals that you may be familiar with at restaurants, bars and other places where credit cards are accepted. The application is either installed on your PC, or is accessed through a secure web connection (much like an online order form). VPOS lets you authorize, settle, credit and delete transactions, and may perform other functions such as reporting.
VPOS is used by businesses that want to process payments that arrive by phone, fax or email, such as call centres and mail order businesses.
Wireless ___________
Useful When …You are processing payments in remote locations (e.g. pizza delivery, flea markets, etc.) Make Sure That … Your data transmission is secure. The wireless connection should be digital to protect data. ___________
Many wireless devices are emerging now to satisfy the needs of mobile workers. Digital cell phones, Personal Digital Assistants (PDA's, such as Palm Pilots) and specialized hardware can now be used as mobile payment devices. With a "WAP-enabled" cell phone or browser-based PDA, you can enter the basic information required to process a transaction.
Wireless payment processing is useful in situations where traditional or PC-based point of sale devices cannot be used.
Swipe Card ___________
Useful When …The customer is present and when you need to give the customer a signed receipt for their payment Make Sure That … Your merchant account is configured to take advantage of the lower discount rate (i.e. credit card fee) ___________
Swipe card applications are ones where the credit card can be "swiped" through a card reader, and the customer can sign the receipt. The swipe device can typically be connected to a PC, or specialized devices are available for use (such as traditional POS terminals).
The merchant account fees for swiped ("card present") transactions are lower than "card not present" transactions.
2. Get a merchant account
A merchant account gives merchants the right to accept credit cards for payment. A merchant account is required for each credit card you wish to accept. This step can be the most time-consuming and frustrating for merchants, and it will also be the component that most influences your costs of doing business online. Researching your merchant account options, understanding the merchant account process, knowing how merchant account providers assess merchants, and "shopping around", will pay off dramatically.
Merchant accounts have several fees associated with them, including a set-up fee ($200-$500), monthly statement fees ($5-$10), a monthly minimum fee ($20-$30) and a discount rate. The discount rate is a percentage of your sales revenue that the banks levy, and it varies by how "risky" your business is perceived to be (many factors enter into this, such as your credit history, the type of products you sell, your sales volume, average order size, etc.).
When enquiring about merchant accounts, start with your bank first. Then shop around. Fees vary significantly from institution to institution. In fact, they sometimes vary within an institution, depending upon the merchant account representative you speak with. Depending upon your sales volume, shopping around can save you a lot of money over time.
If you wish, EasyPay123 has relationships with several merchant account providers, some of which have online applications that are available online on EasyPay123's website. We'd also be happy to advise as you work through the process of obtaining a merchant account.
For more information, see EasyPay123's article entitled "Getting a Merchant Account" available by sending us a request through our online contact form at www.easypay123.com.
3. Select a payment gateway
The payment gateway is the service that connects your payment interface to the financial network. Gateways take the payment information from the application, ensure that the data is valid, format it appropriately, and send it on to the financial network for authorization, settlement, etc. Gateways typically also offer advanced features such as reporting and transaction management.
When you select a gateway, make sure that they can connect to your interface of choice (some gateways may also offer their own payment applications that you can take advantage of). Also make sure that they can connect to your merchant bank (so that funds can be deposited to your account). Finally, determine what other features you are looking for in a payment gateway, such as recurring payments, ability to process in multiple currencies, email notification of orders, fraud screening, etc. Shop around and ask lots of questions. Once you connect to a specific gateway, switching can be expensive and time consuming.
4. Payment-enable your application
Once your gateway has been selected, someone needs to connect it to your payment interface and customize it to meet your needs (if it is customizable). This is typically the job of your developer. Make sure that the developer has done this kind of work before, and will be around if you need changes in the future. Be explicit about your requirements and document them so that they are unambiguous.
5. Test and Launch
Since it's your money that is being processed, be meticulous about testing the application. Use a real credit card (for each credit card type your are accepting) and process a small transaction (e.g. $1.00) to make sure that the payment is authorized properly and that it settles to your bank account. Once you launch, problems are difficult to fix without affecting your customers.
Summary
Offering convenient payment options to your customers is a good way to secure their loyalty and reduce your operational costs. A variety of payment methods are available, and various interfaces can be used depending upon the needs of your customers and your business. When evaluating payment processing options start with your customers' needs and document all of the features that you wish to have in your payment solution. Take the time to shop around, and make sure that the service providers that you choose are ones that you will be happy with in the long run.
About EasyPay123
EasyPay123 is a leading supplier of payment processing solutions to businesses across North America. Offering world-class solutions at affordable prices, EasyPay123 helps merchants simplify the process of acquiring, launching and using payment applications to improve the way they do business. Visit us at www.EasyPay123.com.
For a description of some of the e-commerce terms used in this article, please visit our online glossary at www.EasyPay123.com.
© 2003 EasyPay123 All Rights Reserved. This article may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit written permission from EasyPay123.
About the Author
Robert Levings is President of EasyPay123, a leading provider of online payment solutions to companies across North America.
UNDERSTANDING ONLINE PAYMENTS By Robert Levings, President, EasyPay123
Internet Payment Options
There has been much talk about how the Internet is becoming an important channel for buying and selling products and services. Companies are looking to exploit the Internet in a variety of ways to increase sales to both existing customers and to customers in new markets.
To make these initiatives work in practice requires the application of a range of technologies, from servers to software. An increasingly-critical piece of the e-commerce equation is the ability to pay for goods and services using Internet-based applications.
Internet-based payments offer the benefit of convenience to customers who can pay for their products or services and receive immediate feedback on the status of their payment. Well thought-out payment interfaces will address the payment needs of the bulk of your customers, and offer them valuable features such as electronic receipts, recurring billing options and more. For merchants, online payments can mean that bad debts are reduced and cash flow is improved, improving the bottom line of your business.
The type of payment that you choose will be dependent on your customers' needs and the type of business that you operate.
E-Commerce Payment Types
Many types of payments can be used in online transactions (here we refer to those transactions that use the Internet as the communications channel). The major types include:
EFT: Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands. It provides a means of transferring funds to and from customers and business partners. Electronic cheques: Different types of electronic cheque services are available, but all essentially provide a mechanism for paying over the Internet by enabling purchasers to use their existing chequing accounts to transfer funds to another party. A secure infrastructure ensures that confidential information is not compromised in transit.
Debit cards: Wildly popular for "bricks and mortar" purchases, they have not caught on as a mechanism for Internet purchases because the banks and payment processors have only certified a limited number of devices for transmitting the PIN Number associated with a debit card over the internet. Limited pilots are underway using wireless debit card devices for applications such as pizza deliveries and taxis.
Credit cards: Still the dominant online payment type, it is popular because of its ubiquity and the familiarity that customers have in using them in a variety of settings.
Internet banking: Some businesses (typically large ones such as telephone companies) enable customers to transfer funds from their bank account to pay bills. Online bill payments are usually facilitated by the major banks where you can log on and pay your bills at your convenience.
Alternative payment types: A large number of niche payment types have arisen over the past few years (typically with minimal or no success). These include stored value cards, Internet (digital) cash, pseudo-currencies (e.g. Flooz) and others. No doubt at some point one or more of these payment types will gain a foothold, but none have sufficient critical mass at this time to be a viable alternative for most merchants.
For the purposes of the rest of this article, we will focus on credit card payments, which represent a substantial amount (95%+) of the payments being processed over the Internet today.
Getting Started with Credit Card Processing
If you are a merchant that is looking to accept credit card payments, there are a few steps that you should follow to ensure a successful implementation. None of them are difficult, but some can take time to complete. It is recommended that you follow each of the steps in sequence to avoid compatibility issues between your application and the financial network.
Let's examine each step in order:
1. Determine the Right Payment Interface
The payment interface is the application that you are going to use to process credit card payments. There are many options available to you, and the right choice will be dictated by the type of business you have and the requirements of your customers. Some of the more popular interface options include:
Shopping cart _______
Useful When …Your customers may be purchasing multiple items from you in a single purchase Make Sure That … You understand the features that you need and that you purchase from a reputable vendor ________
A shopping cart enables merchants to accept payment for multiple items in a single transaction. Most online retailers that offer a variety of products use some type of shopping cart application. Shopping carts typically provide customers with a number of convenient features, such as an electronic "shopping basket" to "hold" their goods until purchase.
Shopping carts offer a wide range of possible advantages to merchants as well, such as automated shipping and tax calculation; "back-office" tools for payment and inventory management; reporting tools; coupons and discount functions and control over individual and store-wide sales.
Shopping cart software can be purchased and "hosted" by the merchant on a server of their choice, but most merchants choose to use the services of a shopping cart service provider. Costs typically include set-up fees and monthly fees, in addition to your payment gateway fees. Many shopping cart providers offer different levels of feature packages, with fees based on the chosen feature level. Before you invest in a shopping cart application, understand what features are important to you and to your customers. Make sure that the service provider is reputable and is going to be around for a while. Switching service providers can be expensive, time consuming and frustrating. Your research will pay off in the long run.
"Buy Button" ___________
Useful When … You only have a few products to sell or your customers only purchase one product or service at a time Make Sure That … The customer buying experience is "seamless" and secure ___________
A "buy button" is similar to a shopping cart, but typically facilitates the purchase of only one product (or service). It generally consists of simple html code that you insert into your site that displays an order form with associated product information. Customers click on the buy button, and an order form appears with the relevant order information in it. Customers enter their shipping and credit card information in the form, press "submit", and their order is processed.
Be aware that some buy button applications force customers to be "transported" to another page that has a different look and feel from your site. Some customers are uncomfortable with this, and may abandon the sale if this happens. Again, shop around. Talk to your payment gateway provider. It will pay off.
Virtual Point of Sale (VPOS) ___________
Useful When … You are processing payments that are coming in by phone, fax or email Make Sure That … You have a mechanism to reconcile VPOS payments to bank deposits ___________
A virtual point of sale application (VPOS) is a replacement for traditional hardware-based POS terminals that you may be familiar with at restaurants, bars and other places where credit cards are accepted. The application is either installed on your PC, or is accessed through a secure web connection (much like an online order form). VPOS lets you authorize, settle, credit and delete transactions, and may perform other functions such as reporting.
VPOS is used by businesses that want to process payments that arrive by phone, fax or email, such as call centres and mail order businesses.
Wireless ___________
Useful When …You are processing payments in remote locations (e.g. pizza delivery, flea markets, etc.) Make Sure That … Your data transmission is secure. The wireless connection should be digital to protect data. ___________
Many wireless devices are emerging now to satisfy the needs of mobile workers. Digital cell phones, Personal Digital Assistants (PDA's, such as Palm Pilots) and specialized hardware can now be used as mobile payment devices. With a "WAP-enabled" cell phone or browser-based PDA, you can enter the basic information required to process a transaction.
Wireless payment processing is useful in situations where traditional or PC-based point of sale devices cannot be used.
Swipe Card ___________
Useful When …The customer is present and when you need to give the customer a signed receipt for their payment Make Sure That … Your merchant account is configured to take advantage of the lower discount rate (i.e. credit card fee) ___________
Swipe card applications are ones where the credit card can be "swiped" through a card reader, and the customer can sign the receipt. The swipe device can typically be connected to a PC, or specialized devices are available for use (such as traditional POS terminals).
The merchant account fees for swiped ("card present") transactions are lower than "card not present" transactions.
2. Get a merchant account
A merchant account gives merchants the right to accept credit cards for payment. A merchant account is required for each credit card you wish to accept. This step can be the most time-consuming and frustrating for merchants, and it will also be the component that most influences your costs of doing business online. Researching your merchant account options, understanding the merchant account process, knowing how merchant account providers assess merchants, and "shopping around", will pay off dramatically.
Merchant accounts have several fees associated with them, including a set-up fee ($200-$500), monthly statement fees ($5-$10), a monthly minimum fee ($20-$30) and a discount rate. The discount rate is a percentage of your sales revenue that the banks levy, and it varies by how "risky" your business is perceived to be (many factors enter into this, such as your credit history, the type of products you sell, your sales volume, average order size, etc.).
When enquiring about merchant accounts, start with your bank first. Then shop around. Fees vary significantly from institution to institution. In fact, they sometimes vary within an institution, depending upon the merchant account representative you speak with. Depending upon your sales volume, shopping around can save you a lot of money over time.
If you wish, EasyPay123 has relationships with several merchant account providers, some of which have online applications that are available online on EasyPay123's website. We'd also be happy to advise as you work through the process of obtaining a merchant account.
For more information, see EasyPay123's article entitled "Getting a Merchant Account" available by sending us a request through our online contact form at www.easypay123.com.
3. Select a payment gateway
The payment gateway is the service that connects your payment interface to the financial network. Gateways take the payment information from the application, ensure that the data is valid, format it appropriately, and send it on to the financial network for authorization, settlement, etc. Gateways typically also offer advanced features such as reporting and transaction management.
When you select a gateway, make sure that they can connect to your interface of choice (some gateways may also offer their own payment applications that you can take advantage of). Also make sure that they can connect to your merchant bank (so that funds can be deposited to your account). Finally, determine what other features you are looking for in a payment gateway, such as recurring payments, ability to process in multiple currencies, email notification of orders, fraud screening, etc. Shop around and ask lots of questions. Once you connect to a specific gateway, switching can be expensive and time consuming.
4. Payment-enable your application
Once your gateway has been selected, someone needs to connect it to your payment interface and customize it to meet your needs (if it is customizable). This is typically the job of your developer. Make sure that the developer has done this kind of work before, and will be around if you need changes in the future. Be explicit about your requirements and document them so that they are unambiguous.
5. Test and Launch
Since it's your money that is being processed, be meticulous about testing the application. Use a real credit card (for each credit card type your are accepting) and process a small transaction (e.g. $1.00) to make sure that the payment is authorized properly and that it settles to your bank account. Once you launch, problems are difficult to fix without affecting your customers.
Summary
Offering convenient payment options to your customers is a good way to secure their loyalty and reduce your operational costs. A variety of payment methods are available, and various interfaces can be used depending upon the needs of your customers and your business. When evaluating payment processing options start with your customers' needs and document all of the features that you wish to have in your payment solution. Take the time to shop around, and make sure that the service providers that you choose are ones that you will be happy with in the long run.
About EasyPay123
EasyPay123 is a leading supplier of payment processing solutions to businesses across North America. Offering world-class solutions at affordable prices, EasyPay123 helps merchants simplify the process of acquiring, launching and using payment applications to improve the way they do business. Visit us at www.EasyPay123.com.
For a description of some of the e-commerce terms used in this article, please visit our online glossary at www.EasyPay123.com.
© 2003 EasyPay123 All Rights Reserved. This article may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit written permission from EasyPay123.
About the Author
Robert Levings is President of EasyPay123, a leading provider of online payment solutions to companies across North America.
Thursday, May 3, 2007
Credit Card Machines 802 Home
Why You Need To Keep Your Credit Card Secure
By Joseph Kenny
Automated teller machines (ATM) are a great invention. They are an easy way to get cash out of your account 24 hours a day. But you may not be the only person raiding your account. If you're not careful, someone could steal your person and financial information and leave you in financial trouble.
Some identity fraudsters use special machines to 'skim' card details from ATMs and other card machines. They then use these details to clone your credit card, which they can use until the credit limit has been used up or exceeded. Another option for identity fraudsters is to get hold of your ATM receipt. This may have card details which they can use for the same purpose.
Stealing Your Identity
Identity theft is the theft of personal information which can be used to identify someone. This is used to commit identity fraud by obtaining goods or services under a fake name or creating a whole new identity. Often, the theft of just one piece of identifying information is enough to give fraudsters access to the rest.
For example, identity fraudsters could steal your purse or wallet. In addition to cash, your purse or wallet may have a debit card, a credit card or a driver's licence. The driver's licence has your name, address and date of birth. These details can be used to apply for credit cards, loans, services, goods and even benefits. The same information may be stolen through burglary, mail theft or redirection, or computer hacking.
Are You A Victim Of Identity Theft?
There are many ways that you can tell that you might be a victim of identity theft – and some of them don't seem to have much to do with your finances. For example, if you find that people are tampering with your rubbish, this may not just be a social nuisance. Instead, it could mean that someone is going through your leavings looking for credit card and bank statements, official letters and more. If your post goes missing, this could be another sign of planned identity fraud.
Other signs are getting bills, invoices or receipts for things you haven't ordered. You should also look out for unexplained transactions on your credit card statement. And if solicitors or debt collectors are chasing you for debts that aren't yours, it may be time to investigate what's really going on. Too much of this and you could find that you get turned down for credit in spite of having a spotless record.
Protection Against Identity Theft
You don't have to take this lying down. First of all, get a copy of your credit file from Experian or Equifax. This will let you know if people are using your details to apply for credit.
If personal information or belongings are lost or stolen, report these to the relevant authorities immediately. This is particularly important with passports, driving licences, credit cards and bank cards. The sooner you report these, the sooner they can track where and when they are being used.
Keep passwords and PINs secure and don't tell them to anyone. Shred unwanted credit card or bank statements, ATM receipts and so on. That way no-one can use them to steal your personal information. Anything that you do want to keep should be locked away somewhere safe. That can be a drawer or safe or even a safety deposit box at your bank.
Finally, when you move house, get your mail redirected and let banks and credit card companies know when you move house. This will make it more difficult for a fraudster to steal your letters and your identity.
Joseph Kenny writes for the Card Guide, a site where visitors can compare credit cards. FinanceFool.co.uk offers more deals on UK credit cards.
Visit today http://www.cardguide.co.uk
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Why-You-Need-To-Keep-Your-Credit-Card-Secure&id=286591
By Joseph Kenny
Automated teller machines (ATM) are a great invention. They are an easy way to get cash out of your account 24 hours a day. But you may not be the only person raiding your account. If you're not careful, someone could steal your person and financial information and leave you in financial trouble.
Some identity fraudsters use special machines to 'skim' card details from ATMs and other card machines. They then use these details to clone your credit card, which they can use until the credit limit has been used up or exceeded. Another option for identity fraudsters is to get hold of your ATM receipt. This may have card details which they can use for the same purpose.
Stealing Your Identity
Identity theft is the theft of personal information which can be used to identify someone. This is used to commit identity fraud by obtaining goods or services under a fake name or creating a whole new identity. Often, the theft of just one piece of identifying information is enough to give fraudsters access to the rest.
For example, identity fraudsters could steal your purse or wallet. In addition to cash, your purse or wallet may have a debit card, a credit card or a driver's licence. The driver's licence has your name, address and date of birth. These details can be used to apply for credit cards, loans, services, goods and even benefits. The same information may be stolen through burglary, mail theft or redirection, or computer hacking.
Are You A Victim Of Identity Theft?
There are many ways that you can tell that you might be a victim of identity theft – and some of them don't seem to have much to do with your finances. For example, if you find that people are tampering with your rubbish, this may not just be a social nuisance. Instead, it could mean that someone is going through your leavings looking for credit card and bank statements, official letters and more. If your post goes missing, this could be another sign of planned identity fraud.
Other signs are getting bills, invoices or receipts for things you haven't ordered. You should also look out for unexplained transactions on your credit card statement. And if solicitors or debt collectors are chasing you for debts that aren't yours, it may be time to investigate what's really going on. Too much of this and you could find that you get turned down for credit in spite of having a spotless record.
Protection Against Identity Theft
You don't have to take this lying down. First of all, get a copy of your credit file from Experian or Equifax. This will let you know if people are using your details to apply for credit.
If personal information or belongings are lost or stolen, report these to the relevant authorities immediately. This is particularly important with passports, driving licences, credit cards and bank cards. The sooner you report these, the sooner they can track where and when they are being used.
Keep passwords and PINs secure and don't tell them to anyone. Shred unwanted credit card or bank statements, ATM receipts and so on. That way no-one can use them to steal your personal information. Anything that you do want to keep should be locked away somewhere safe. That can be a drawer or safe or even a safety deposit box at your bank.
Finally, when you move house, get your mail redirected and let banks and credit card companies know when you move house. This will make it more difficult for a fraudster to steal your letters and your identity.
Joseph Kenny writes for the Card Guide, a site where visitors can compare credit cards. FinanceFool.co.uk offers more deals on UK credit cards.
Visit today http://www.cardguide.co.uk
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Why-You-Need-To-Keep-Your-Credit-Card-Secure&id=286591
Wednesday, May 2, 2007
Credit Card Machines 802 Home
Credit Card Processing
By Thomas Morva
Nowadays, almost all establishments accept credit card payments. This is because many consumers make their purchases using their credit cards, and establishments who do not accept credit card payments risks losing potential sales. Given this, it is then essential for any company that intends to sell products in the market to make sure that their stores can accept credit payments. There’s good news, though! Today, accepting credit cards is usually a fairly easy process because companies can gain access to the tools that they need to be able to process credit card payments from a number of sources.
Setting up a merchant account
The first step in accepting credit cards is setting up a merchant account. This will involve locating the right merchant account provider or credit card processor. Many businesses do this through the banks where they do their business banking. However, not all banks provide credit card processing services.
A good source of information is any trade associations that a business belongs to, which may have negotiated rates with a certain credit card processor that the business could contact. Another good source of leads is from other businesses that already accept credit card payments. On the other hand, given that most processors aggressively pursue clients especially start up companies, it is most likely that these processors will contact new business owners and offer them their services.
In deciding on which credit card processor to use, it is a good idea to employ canvassing strategies, which includes interviewing each credit processor and asking them questions that can help business owners pick the right processor. Some of these questions include asking them about their fees, their rates, and other services that they provide their clients. After which, business owners then should analyze which processor can give them the best deal for the credit card processing services that they are offering.
Nowadays, no business establishment should be without credit card processing capabilities. This is because given that most people make many of their purchases using their credit cards, establishments that do not accept credit card payments risk losing a significant number of sales. The good news is that today, the tools that businesses need to be able to accept credit card payments, which includes merchant accounts, are easily accessible, as there are a large number of companies that provide credit card processing services.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Credit-Card-Processing&id=255743
By Thomas Morva
Nowadays, almost all establishments accept credit card payments. This is because many consumers make their purchases using their credit cards, and establishments who do not accept credit card payments risks losing potential sales. Given this, it is then essential for any company that intends to sell products in the market to make sure that their stores can accept credit payments. There’s good news, though! Today, accepting credit cards is usually a fairly easy process because companies can gain access to the tools that they need to be able to process credit card payments from a number of sources.
Setting up a merchant account
The first step in accepting credit cards is setting up a merchant account. This will involve locating the right merchant account provider or credit card processor. Many businesses do this through the banks where they do their business banking. However, not all banks provide credit card processing services.
A good source of information is any trade associations that a business belongs to, which may have negotiated rates with a certain credit card processor that the business could contact. Another good source of leads is from other businesses that already accept credit card payments. On the other hand, given that most processors aggressively pursue clients especially start up companies, it is most likely that these processors will contact new business owners and offer them their services.
In deciding on which credit card processor to use, it is a good idea to employ canvassing strategies, which includes interviewing each credit processor and asking them questions that can help business owners pick the right processor. Some of these questions include asking them about their fees, their rates, and other services that they provide their clients. After which, business owners then should analyze which processor can give them the best deal for the credit card processing services that they are offering.
Nowadays, no business establishment should be without credit card processing capabilities. This is because given that most people make many of their purchases using their credit cards, establishments that do not accept credit card payments risk losing a significant number of sales. The good news is that today, the tools that businesses need to be able to accept credit card payments, which includes merchant accounts, are easily accessible, as there are a large number of companies that provide credit card processing services.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Credit-Card-Processing&id=255743
Monday, April 30, 2007
Credit Card Machines 802 Home
Chase Credit Card-home Page
By Mario Churchill
The current Chase Bank was created through a variety of
historical mergers. Chase Banks most successful acquisitions
was in the 1930’s when it acquired the Equitable Trust Company.
John D Rockefeller, of the influential Rockefeller Family was
one of the most influential stockholders in the trust company
and his influence helped make the Chase bank the largest bank
in the United States in 1955 when the Chase National Bank and
the Bank of the Manhattan Company merged.
The Chase Credit Card is really a Visa card offered by the
Chase Bank.
One of the features found on the Chase Credit Card home page is
a section for their financial resources. Chase offers a variety
of sources ranging from educational planning tool, mortgage
tools, and advice and planning. The educational tool is
information about all sorts of educational loans; loans for
medical students, loans for private students, loans for parents
of students, and information about the Stafford loans. The
mortgage section offers a mortgage calendar and a home equity
calculator. The mortgage calculator answers questions like;
what type of home is in your budget, and wether you should take
a short term or long term mortgage. The home equity calculator
provides the answers to questions like; how long it will take
to pay off a line of credit and if you should consider
consolidating your loans. The advice planning section provides
advice on topics such as; financial planning, retirement
planning, and an educational resources library.
Chase Credit Card also has a page dedicated to financial tools
which includes credit information, student credit and a
innovative section called smartscents. Smartcents is a place
customers can go to learn how banking works from budgeting to
borrowing. Smartcents even has a section designed for kids.
The Chase Credit Card home page features the Visa Freedom card.
The Freedom card features a three percent cash back bonus for
every doller spent at grocery stores, fast food restaurants,
and gas stations. It also features a one percent cash back
bonus every time you spend a doller every where else. If you
stock up two hundred dollars worth of rewards on your Freedom
card Chase will send you a check for two hundred and fifty
dollars.
The Chase Credit card website offers customers four ways to
apply for a card. They can choose by category. The company will
help them choose the best card. They can shop by comparing card
features. I all else fails clients can simply browse through
Chase’s list until a card catches their eye.
Once you have gotten your chase card you can take advantage of
Chase’s paperless accounting by receiving your credit card
statement online instead of through the postal service.
Two features somewhat unique to the Chase Credit Card are their
fraud detector and payment protection plan.
The Chase Credit Card website is simple to use and full of
clear concise instructions for navigation. It lacks the bells
and whistles of some of other credit card sites but the
simplicity is refreshing. The one feature that would benefit
the site is information about their customer service
department.
About the Author: Mario Churchill is a freelance author and has
written over 200 articles on various subjects. For more
information checkout http://www.better-credit-cards.com and
http://www.creditrequests.com.
Source: http://www.isnare.com
By Mario Churchill
The current Chase Bank was created through a variety of
historical mergers. Chase Banks most successful acquisitions
was in the 1930’s when it acquired the Equitable Trust Company.
John D Rockefeller, of the influential Rockefeller Family was
one of the most influential stockholders in the trust company
and his influence helped make the Chase bank the largest bank
in the United States in 1955 when the Chase National Bank and
the Bank of the Manhattan Company merged.
The Chase Credit Card is really a Visa card offered by the
Chase Bank.
One of the features found on the Chase Credit Card home page is
a section for their financial resources. Chase offers a variety
of sources ranging from educational planning tool, mortgage
tools, and advice and planning. The educational tool is
information about all sorts of educational loans; loans for
medical students, loans for private students, loans for parents
of students, and information about the Stafford loans. The
mortgage section offers a mortgage calendar and a home equity
calculator. The mortgage calculator answers questions like;
what type of home is in your budget, and wether you should take
a short term or long term mortgage. The home equity calculator
provides the answers to questions like; how long it will take
to pay off a line of credit and if you should consider
consolidating your loans. The advice planning section provides
advice on topics such as; financial planning, retirement
planning, and an educational resources library.
Chase Credit Card also has a page dedicated to financial tools
which includes credit information, student credit and a
innovative section called smartscents. Smartcents is a place
customers can go to learn how banking works from budgeting to
borrowing. Smartcents even has a section designed for kids.
The Chase Credit Card home page features the Visa Freedom card.
The Freedom card features a three percent cash back bonus for
every doller spent at grocery stores, fast food restaurants,
and gas stations. It also features a one percent cash back
bonus every time you spend a doller every where else. If you
stock up two hundred dollars worth of rewards on your Freedom
card Chase will send you a check for two hundred and fifty
dollars.
The Chase Credit card website offers customers four ways to
apply for a card. They can choose by category. The company will
help them choose the best card. They can shop by comparing card
features. I all else fails clients can simply browse through
Chase’s list until a card catches their eye.
Once you have gotten your chase card you can take advantage of
Chase’s paperless accounting by receiving your credit card
statement online instead of through the postal service.
Two features somewhat unique to the Chase Credit Card are their
fraud detector and payment protection plan.
The Chase Credit Card website is simple to use and full of
clear concise instructions for navigation. It lacks the bells
and whistles of some of other credit card sites but the
simplicity is refreshing. The one feature that would benefit
the site is information about their customer service
department.
About the Author: Mario Churchill is a freelance author and has
written over 200 articles on various subjects. For more
information checkout http://www.better-credit-cards.com and
http://www.creditrequests.com.
Source: http://www.isnare.com
Saturday, April 28, 2007
Credit Card Machines 802 Home
Minimum Credit Card Payments To Rise
By Charles Essmeier
For years, major credit card companies have allowed cardholders
to make minimum payments of 2% of the outstanding balances on
their credit cards. Having customers pay the minimum doesn’t
reduce the balance by very much, but when the 18-30% interest
rates that many credit cards charge is applied, the result is a
profitable ones for the banks that issue credit cards. A balance
of $1000 can take nine years to pay off at 20% interest if the
borrower only pays the minimum due each month.
Clearly, it is not in the best interests of consumers to pay
the minimum every month. But tens of thousands of Americans do
just that, carrying huge balances and paying the minimum every
month. The average household now carries $10,000 in credit card
debt; for many people, paying the minimum is all they can
manage. Due to changes in Federal law, several major credit
card issuing banks will soon raise the minimum amount due to
4%. This might seem like a small increase, but if you are
already deep in debt and paying the minimum amount, this could
cause your payments to double. If you have a $10,000 balance
and you are paying $200 per month, you will soon need to come
up with $400 instead. Many people will find this impossible to
do, as they are already paying as much as they can. What
solutions are available?
The usual common sense rules of credit card use apply here.
Stop using your credit cards. See if you can consolidate your
debt on another credit card with lower interest. See if you can
cut out some unnecessary expenses in order to free up some more
money to pay your balance. Consider a home equity loan to
consolidate your debt. Call your card issuing bank and see if
they can work out repayment plan or lower your interest rate.
There are numerous solutions available, but card holders need
to be aware that the minimum payment is rising, and it isn’t
going to come back down. By charging a 4% minimum, the credit
card issuing banks are hoping that consumers will pay off their
debt a bit sooner and that fewer consumers will find themselves
in a situation where filing for bankruptcy is the only
solution. And once October comes around, even filing for
bankruptcy will be more difficult. Credit card holders with
large balances on their accounts should give considerable
thought to reducing their debt now, as payment options and
requirements are going to be more strict from now on.
About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a site devoted to debt consolidation and credit counseling, and
http://www.StructuredSettlementHelp.com, a site devoted to
information regarding structured settlements.
Source: http://www.isnare.com
By Charles Essmeier
For years, major credit card companies have allowed cardholders
to make minimum payments of 2% of the outstanding balances on
their credit cards. Having customers pay the minimum doesn’t
reduce the balance by very much, but when the 18-30% interest
rates that many credit cards charge is applied, the result is a
profitable ones for the banks that issue credit cards. A balance
of $1000 can take nine years to pay off at 20% interest if the
borrower only pays the minimum due each month.
Clearly, it is not in the best interests of consumers to pay
the minimum every month. But tens of thousands of Americans do
just that, carrying huge balances and paying the minimum every
month. The average household now carries $10,000 in credit card
debt; for many people, paying the minimum is all they can
manage. Due to changes in Federal law, several major credit
card issuing banks will soon raise the minimum amount due to
4%. This might seem like a small increase, but if you are
already deep in debt and paying the minimum amount, this could
cause your payments to double. If you have a $10,000 balance
and you are paying $200 per month, you will soon need to come
up with $400 instead. Many people will find this impossible to
do, as they are already paying as much as they can. What
solutions are available?
The usual common sense rules of credit card use apply here.
Stop using your credit cards. See if you can consolidate your
debt on another credit card with lower interest. See if you can
cut out some unnecessary expenses in order to free up some more
money to pay your balance. Consider a home equity loan to
consolidate your debt. Call your card issuing bank and see if
they can work out repayment plan or lower your interest rate.
There are numerous solutions available, but card holders need
to be aware that the minimum payment is rising, and it isn’t
going to come back down. By charging a 4% minimum, the credit
card issuing banks are hoping that consumers will pay off their
debt a bit sooner and that fewer consumers will find themselves
in a situation where filing for bankruptcy is the only
solution. And once October comes around, even filing for
bankruptcy will be more difficult. Credit card holders with
large balances on their accounts should give considerable
thought to reducing their debt now, as payment options and
requirements are going to be more strict from now on.
About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a site devoted to debt consolidation and credit counseling, and
http://www.StructuredSettlementHelp.com, a site devoted to
information regarding structured settlements.
Source: http://www.isnare.com
Friday, April 27, 2007
Credit Card Machines 802 Home
Could A Fraudster Be Using Your Credit Card?
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
By Joseph Kenny
If your credit card statement has transactions you don't know about, don't just dismiss them as a banking error. It could be worth checking to see if you are a victim of identity theft.
Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.
How Fraudsters Get Your Details
Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.
Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.
Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.
Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.
Identity Theft Checklist
If you think you might be a victim of identity theft, ask yourself the following questions:
Has someone been rummaging through your rubbish?
Have you had less mail than usual recently?
Have you had a bill or receipt for something you know you haven't ordered?
Are you getting invoices from people you don't usually deal with?
Are debt collectors or solicitors chasing you for money you know you don't owe?
Have you been turned down for credit in spite of a spotless record?
If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.
Identity Fraud Prevention Tips
Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.
Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Could-A-Fraudster-Be-Using-Your-Credit-Card?&id=282363
Wednesday, April 25, 2007
Credit Card Machines 802 Home
The Main Reasons Credit Cards Expire and Top Tips for Easily And Quickly Renewing Them
By Tim Gorman
Aside from the long string of numbers that serves to identify your account, a short series of numbers makes up the expiration date of your credit card. Many people are unaware of the expiration date of their credit card but the credit card approval network knows exactly when credit cards expire.
There are several reasons that credit cards have expiration dates and some of those reasons are mentioned below:
*Credit cards expire because the magnetic strip attached on the back of each credit card will eventually wear out. Once your credit card's magnetic strip wears out, credit card terminals and ATMs will not be able to read your card and process your transactions.
*Credit cards have expiration dates so credit card companies can get in touch with their customers in a timely manner. This time can be used by the company to inquire about any issues or complaints that the customer has. If your credit card were about to expire, you would receive a reminder from your credit card company with an option to renew with them.
*Credit cards expire for the security of cardholders. An expiration date allows the credit card companies to make sure that you are who say you are and that there have been no fraudulent activities associated with your credit card. With identity theft on the rise, this is not a bad thing. There have been instances when credit cards have been opened in someone's name without him or her knowing and charges made on the card. If your credit card expires, your credit card company will get in touch with you and alert you about current fraud trends.
*Credit card companies may also use the time before the expiration dates of credit cards to remind clients of their existence. This is especially for people who don't make use of their cards very often.
If your credit card is about to expire, renewing it isn't hard at all. You would most likely get a new one in the mail about a month prior to your current credit card's expiration date. If you are a frequent traveler, make sure you check your credit card's expiration date. It might expire while you are away. If your credit card expires while you are traveling, you won't be able to use it in your transactions or emergencies. So before you go off anywhere, call your credit card company and request they send you a new card before you leave.
As soon as you get your new credit card, read the literature that comes with it. You don't want to miss any new features such as new and improved terms of use. However, if you discover that there have been changes to your terms and they are not good, get into touch with your credit card company right away. Refrain from using your new credit card until your request for changing the term is approved. If the credit card company denies your request, you can simply cancel the card. You'll easily find a credit card company with better terms.
For more important and helpful information on credit cards to include bad credit - credit cards, cash back and reward credit cards and instant approval credit cards visit BestOnlineCreditCards.com
Article Source: http://EzineArticles.com/?expert=Tim_Gorman
http://EzineArticles.com/?The-Main-Reasons-Credit-Cards-Expire-and-Top-Tips-for-Easily-And-Quickly-Renewing-Them&id=314817
By Tim Gorman
Aside from the long string of numbers that serves to identify your account, a short series of numbers makes up the expiration date of your credit card. Many people are unaware of the expiration date of their credit card but the credit card approval network knows exactly when credit cards expire.
There are several reasons that credit cards have expiration dates and some of those reasons are mentioned below:
*Credit cards expire because the magnetic strip attached on the back of each credit card will eventually wear out. Once your credit card's magnetic strip wears out, credit card terminals and ATMs will not be able to read your card and process your transactions.
*Credit cards have expiration dates so credit card companies can get in touch with their customers in a timely manner. This time can be used by the company to inquire about any issues or complaints that the customer has. If your credit card were about to expire, you would receive a reminder from your credit card company with an option to renew with them.
*Credit cards expire for the security of cardholders. An expiration date allows the credit card companies to make sure that you are who say you are and that there have been no fraudulent activities associated with your credit card. With identity theft on the rise, this is not a bad thing. There have been instances when credit cards have been opened in someone's name without him or her knowing and charges made on the card. If your credit card expires, your credit card company will get in touch with you and alert you about current fraud trends.
*Credit card companies may also use the time before the expiration dates of credit cards to remind clients of their existence. This is especially for people who don't make use of their cards very often.
If your credit card is about to expire, renewing it isn't hard at all. You would most likely get a new one in the mail about a month prior to your current credit card's expiration date. If you are a frequent traveler, make sure you check your credit card's expiration date. It might expire while you are away. If your credit card expires while you are traveling, you won't be able to use it in your transactions or emergencies. So before you go off anywhere, call your credit card company and request they send you a new card before you leave.
As soon as you get your new credit card, read the literature that comes with it. You don't want to miss any new features such as new and improved terms of use. However, if you discover that there have been changes to your terms and they are not good, get into touch with your credit card company right away. Refrain from using your new credit card until your request for changing the term is approved. If the credit card company denies your request, you can simply cancel the card. You'll easily find a credit card company with better terms.
For more important and helpful information on credit cards to include bad credit - credit cards, cash back and reward credit cards and instant approval credit cards visit BestOnlineCreditCards.com
Article Source: http://EzineArticles.com/?expert=Tim_Gorman
http://EzineArticles.com/?The-Main-Reasons-Credit-Cards-Expire-and-Top-Tips-for-Easily-And-Quickly-Renewing-Them&id=314817
Tuesday, April 17, 2007
Credit Card Machines 802 Home
Debit Card Vs. Credit Card, What Are The Differences?
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
Monday, April 16, 2007
Credit Card Machines 802 Home
Low Cost Credit Card Processing
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Low-Cost-Credit-Card-Processing&id=353157
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Low-Cost-Credit-Card-Processing&id=353157
Saturday, April 14, 2007
Credit Card Machines 802 Home
Credit Card Processing Terminals
By Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
By Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
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