The Benefits of Merchant Account Funding

With just a small business and moderate profit margins, it was hard for me to see how I could get bigger. There was never enough money to invest in major projects which could help me grow; only the amount I needed to pay my staff and overheads. Then I realized that I could do what individuals have always done to fund purchases: get a loan. In the business world, this is called merchant account funding, and there are a couple of ways to go about it, so I did some research. There are a couple of explanations about merchant account on this website.

One way was to go through my bank. This option can be a bit slow and involved, but this is to reduce risks to the lender. To qualify for a loan, I would have to satisfy certain expectations and provide proof of liquidity. This process motivates a business owner to think carefully about why he or she wants account funding, and how it will be repaid. There is also a faster method to get money: through cash advance companies. They give a customer the money he or she needs quickly, without the same kinds of background checks, and with a high approval rate. Clients can access these online.

In the end, I got my money and was able to give my firm a makeover. I made some careful choices and soon found that the loan was worth the effort. My client base expanded and profits rose quickly, enabling me to clear my debt in good time.

The Pros And Cons Of Cashless ATMs

Automated teller machines, no longer curious anomalies when it comes to handling financial transactions, have become mainstays around the world. Once located exclusively in or near corresponding financial institutions, automatic teller machines are now so prevalent that consumers are rarely without one available wherever they may be. Streamlined ATM machines such as the Triton ATM may be easily positioned in surprisingly convenient locations, and ATM services have pros and cons for both customers and merchants. 


Finding ATM Machines


Almost any busy area may have an ATM machine, as merchants realize the benefit of having both machines that dispense cash as well as cashless ATMs on their premises. Visit here to learn more on how to acquire ATM Machine for your business. Although customers may pay fees to use these services, they may seem nominal in relation to having this type of convenient way to complete a number of financial transactions. ATM machines may be found far from financial institutions, including highly trafficked areas such as:

• Airports
• Convenience stores
• Gas stations
• Hospitals
• Shopping Malls
• Super markets

Accepting payments for goods and services through cashless ATMs may very well be viewed in a number of ways. From the merchant perspective, cashless ATM machines may well be an essential customer service tool that offers their patrons numerous approaches to pay for desired items or services. This may not be ideal for all merchant situations, particularly if the merchant pays the associated fees and ultimately ends up having to increase the prices on goods and services to cover this cost for doing business. Conversely, passing this cost to consumers as a surcharge or convenience fee is an option that may be agreeable if patrons consider it as small in relation the product or service that they receive.

Advantage of Cashless ATM Machines for Merchants

• Increased sales

As consumers increasingly depend on and carry bank, debit, and ATM cards, accepting such payments may be the easiest way to service customers regardless of how they like to pay. This may even make some businesses seem more professional or legitimate in the eyes of customers. A small establishment may readily capture new customers by offering such a convenience as well.

Advantage of Cashless ATM Machines for Consumers

• Convenience

Consumers generally appreciate savings, but most will accept paying fees if this type of service or product is priced to their liking, the fee is viewed as nominal, or if making an electronic payment is exactly what they prefer. Carrying cash can be cumbersome and also risky if done in a substantial quantity, and this is yet another appeal of making cashless payments. Being able to access funds whenever needed by way of a small discreet card is the best solution for a lot of consumers.

Disadvantages of Cashless ATM Machines for Merchants and Consumers

• Maintenance fees
• Monthly fees
• Convenience fees

There are costs involved with using cashless ATM machines that may be disadvantageous for merchants or consumers. Accordingly, these fees may significantly affect the relationship between merchants and their customers. Consulting a professional ATM services provider, therefore, would be strongly recommended prior to selecting ATM services.

Exploring Third Party Payment Processors

Third party payment processors are growing in popularity. More and more merchants are utilizing third party payment processors for Visa card processing and Mastercard processing because they are easy to set up and are low maintenance. The content below will enable a merchant to choose if a third party payment processor is definitely the right choice.

What Is a Third Party Payment Processor?

A third party payment processor is a tool that allows a merchant to accept payments without needing to go through the process of applying for a merchant account. A third party payment processor can be integrated with a website, as many have free shopping carts and buy now buttons that you can put on your website. Many of these features are free and make it so customers can purchase from merchants quite easily.

What Does a Third Party Payment Processor Do?

A third party payment processor enables merchants to accept payments with ease. Third party payment processors do have merchant accounts that operate under their companies that are used to process various transactions for merchants. Each time a customer pays for goods, the money then enters into an account that the merchant has with the third party payment processor. In the event the merchant wants the funds, he or she can transfer it into the bank account that's connected to the third party payment processor account.

Examples of Third Party Payment Processors

There are several third party payment processors that a merchant can consider. Here are examples of the best and most popular ones.

• 2CheckOut, Inc.
• Google Checkout
• Paypal

Paypal and 2CheckOut, Inc. have merchant accounts for merchants who outgrow the basics. All three of the third party payment processors right here have proven track records, allowing merchants to be able to put implicit trust in them.


Pros and Cons for Third Party Payment Processors

Before a merchant decides whether or not a third party payment processor is the right choice for his or her business, pros and cons have to be considered. To enable merchants to make an educated decision, some advantage and disadvantages of payment processors are listed below.

Benefits of Third Party Payment Processors

• A variety of free shopping carts
• Options which facilitate recurring Billing 
• Integration of the shipping costs
• Integration with the design of the merchant's website 
• Support for digital products
• Low monthly fees or no monthly fees at all

Disadvantages of Third Party Payment Processors

• Higher transaction fees--four to five percent
• Some require customers to get an account (This type of requirement could potentially cause a merchant to give up sales, especially if a consumer does not want to register.)
• Sometimes will not fit with certain website designs

Since a merchant understands enough about third party payment processors in making an informed choice, there are a couple of things that can be done to insure that the merchant chooses a solid company that will provide merchant services. Talking with other colleagues and doing some background research on each company will insure that this merchant makes the smart choice. Once the choice has been made, the merchant has the ability to run his or her business with no trouble. Click here to find out more about third party payment processor.

Inside POS Terminal History

Although encountering a company that doesn't have a debit machine or some means of accepting electronic payments is increasingly rare, POS terminals do not have an especially long history. Technological advances notwithstanding, a great level of security and reliability is what makes merchant account services beneficial for consumers in addition to merchants. Reviewing the brief but important background and development of POS terminals reveals how this method of accepting payments has changed and become a part of routine commercial transactions.

The POS Terminal Timeline

POS, or point of sale, was not the first manner in which charge card payments were accepted by retailers. Before 1979, charge card payments were processed differently, with mixed results for both merchants and consumers. Predecessors to the POS terminal included:

• Manual imprinters
• Electronic authorizations

For a lot of consumers, a manual imprinter might appear to be a genuine relic, only relied upon by merchants in a power failure or offline situation. Indeed, the entire process of imprinting customer information on duplicate or triplicate merchant payment slips was often cumbersome. Before merchants could call in transactions and receive instant approvals, the process was relatively slow as well. With instant approval and transfer capability now standard procedure, merchants can receive their deposits on a more timely basis even if they need to resort to this rather outdated type of credit card payment acceptance. The electronic authorization system wasn't without its challenges either, as merchants often spent a rather stretch of time on the phone waiting to obtain approvals.

By the early 1980s the POS terminal had evolved from the cumbersome electronic information capturing terminals originally created by Visa and MasterCard. Accordingly, credit and debit machines became much more of an asset to merchants in terms of providing an efficient way to process electronic payments. This really is likely because of the magnetic data stripe being added onto the backs of charge cards. POS terminal options have included:

• Verifone ZON, Tranz, and Omni
• Hypercom TZP and TZ Plus
• Lipman Nurit line

Verifone, Hypercom, and Lipman have progressively produced dependable credit and debit machine processing terminals. The ZON terminal, arguably the first genuinely modern POS option, continues to be considered an industry standard, in spite of the continued technological evolutions. Likewise Hypercom has many impressive models that provide ideal options no matter what business size or need, with high-end terminals that are able to handle substantial consumer processing applications. Direct payment systems such as Interac make debit machine transactions easier and more advantageous also.

The Value of Selecting a Reputable Merchant Account Provider

Credit or debit machine capabilities can be very beneficial to merchants, provided they select quality products. Accordingly, using a reputable merchant account provider ought to be paramount. Selecting POS terminals with the help of a reputable provider will likely ensure the highest standard of security and reliability for you and your customers.

Avoiding Debit and Credit Card Skimming

Having a merchant account can benefit virtually any type or size of business, as this can be an ideal way to process transactions conveniently and quickly. Credit card processing, however, is not completely without risk, as individuals intent on committing fraud may attempt to skim electronic information for their own gain. While skimming may create all types of problems for victimized consumers, a retail establishment may suffer losses by way of damaged reputation, customers, and revenue.

Skimming Defined

Skimming involves the electronic capture of customer credit card information by way of a handheld device, or through a stationary device placed where credit or debit machine transactions occur. Accordingly, the captured information is sold in order to create counterfeit cards and access unsuspecting customer accounts. As a business owner, your merchant services may be viewed as unsafe if the fraudulent activity happens at your location but this website will help you avoid such incident.

Where Skimming Occurs

While skimming may occur at virtually any retail outlet that processes credit or debit card payments, certain types of establishments are often more susceptible than others. This may be due to a variety of internal or external factors that are inherent to certain establishments in particular. Security, or the lack of it, may also make certain businesses more vulnerable than others, but the following are often viewed as likely targets:

• Bars
• Gas stations
• Restaurants

Minimizing your Skimming Risk

There are many ways to reduce your exposure to such fraudulent activity, and such safe practices may be used by merchants as well as consumers. As a merchant, you would be wise to consider the viewpoint of your customers when you select any merchant account procedures. This should include reviewing safe practices with your employees, and carefully monitoring who has access to credit card information. Good ways to avoid credit card skimming include:

• Keeping the credit or debit card in sight of the customer
• Treat the card as if it were cash
• Monitor receipts and store them securely

If you can avoid having your employees processing transactions out of customer view, this may safeguard both you and your customers from being victimized by employees intent on skimming. Remembering that your merchant account processing is tantamount to handling cash from the viewpoint of your customers may underscore how important it is to be careful who you let access your credit or debit machine.

Choosing a Merchant Account Provider

Choosing a reputable merchant account provider is a straightforward way to end up with a quality product for your establishment. Setting out your merchant account device is but part of the equation when it comes to accepting payments in this manner. Communicating with your merchant account provider about ways to minimize risk may make your merchant account a wonderful feature for your business.

Reviewing the Pros and Cons of Cashless ATMs

ATM machines, no longer curious anomalies in terms of handling financial transactions, have become mainstays throughout the world. Once located exclusively in or near corresponding financial institutions, automatic teller machines are now so prevalent that consumers are rarely without one at their disposal wherever they may be. Streamlined ATM machines such as the Triton ATM may be easily placed in surprisingly convenient locations, and ATM services have advantages and disadvantages for both customers and merchants.

Finding ATM machines

Virtually any busy area may have an ATM machine, as merchants realize the benefit of having both machines that dispense cash as well as cashless ATMs on their premises. Although customers may pay fees to use these services, they may seem nominal in relation to having such a convenient way to complete a variety of financial transactions. ATM machines may be found far from financial institutions, including highly trafficked areas such as:
• Airports
• Convenience stores
• Gas stations
• Hospitals
• Shopping Malls
• Super markets

Accepting payments for goods and services by way of cashless ATMs may be viewed in a number of ways. From the merchant perspective, cashless ATM machines may be an invaluable customer service tool that gives their patrons numerous ways to pay for desired items or services. This may not be ideal for all merchant situations, particularly if the merchant pays the associated fees and ends up having to raise the prices on goods and services to cover this cost for doing business. Conversely, passing this cost to consumers in the form of a surcharge or convenience fee is an option that may be agreeable if patrons view it as small in relation the product or service that they receive.

Advantage of Cashless ATM Machines for Merchants
• Increased sales


As consumers increasingly rely on and carry bank, debit, and ATM cards, accepting such payments may be the easiest way to service customers regardless of how they prefer to pay. This may even make some businesses seem more professional or legitimate in the eyes of consumers. A small establishment may readily capture new customers by offering such a convenience as well.

Advantage of Cashless ATM Machines for Consumers
• Convenience

Consumers generally appreciate savings, but many will accept paying fees if the service or product is priced to their liking, the fee is viewed as nominal, or if making an electronic payment is what they prefer. Carrying cash can be cumbersome and even risky if done in a large quantity, and this is another appeal of making cashless payments. Being able to access funds whenever needed by way of a small discreet card is the perfect solution for many consumers.

Disadvantages of Cashless ATM Machines for Merchants and Consumers
• Maintenance fees
• Monthly fees
• Convenience fees

There are costs involved with using cashless ATM machines that may be disadvantageous for merchants or consumers. Accordingly, these fees may significantly affect the relationship between merchants and their customers. Consulting a professional ATM services provider, therefore, would be strongly recommended before selecting ATM services.View here to find out more about ATM machines.

Why a High Risk Merchant Account may be Needed for your Business

The average business can complete an application for a regular merchant account, but there are some businesses that cannot be approved. A business that cannot qualify for a standard account may find that a high risk merchant account is the right choice. Knowing the reasons why a business would want to apply for these merchant services takes an understanding of the benefits that are available.

Why Your Business May Want a High Risk Merchant Account

There are several reasons why these accounts may be helpful. The ease of credit card processing is a standard for many businesses and the money received is transferred quickly after a sale is made. Having a business that is classified as a high risk operation needs better approval rates. Trying to get approved for a standard account is hard to do and this is one of the main reasons that a company can benefit from applying for a high risk account. A business can sign up without hassle and receive an approval instantly.

Types of Businesses Needing a High Risk Merchant Account

A business can be classified as high risk due to several factors. Any company that has a high turnover rate of employees or that sells products or content that may be classified as high risk. A company that is in an industry where fraud is likely will typically be put into the category of high risk for Visa processing and Mastercard processing.

These are examples of businesses that are classified as high risk:

• Adult Entertainment Companies
• Cigarette Vendors Online
• Sales of Telecommunications Products
• Website Hosting and ISP Companies
• Telemarketing Businesses
• Male/Female Escort Companies
• Insurance Sales
• Detective and Research Services
• Collections
• Cell phone Sellers and Distributors 
• E-Cash Funding Services
• Software Companies Selling Downloads
• Check Cash and Payday Companies

There are many more companies that are considered riskier when applying for merchant services. This shortened list is used as a general guide for a merchant looking to make an application for a high risk merchant account to have an idea of what to expect in comparison of other companies.

Choosing a reliable and reputable company like this when applying for credit card processing is important. Using a company that has a track record of success and reliability will keep a merchant from losing money or having illegal activity performed with their account. Performing an in-depth search online will help a business owner when looking for a reliable processing company. Reading reviews posted by current merchants and asking questions to other colleagues will help provide excellent information about the best merchant services. Working with a trusted company for credit card processing allows a business to have reliable Visa processing and Mastercard processing services. When the right system is in place, businesses will operate smoothly and money from sales and services will be easy to collect.