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Common Services Used by Small Businesses

Any type of business large or small has a need for payment processing solutions. Regardless of the size of a company it can be particularly difficult to find a solid payment processor. There are a large number of solutions out there that claim to either be the best or the most cost effective. It is important for any merchant to truly understand the types of options available for them to accept payment from their customers.

 

What is a Merchant Account

 

A merchant account is a bank account that offers a merchant to accept credit cards on behalf of their customers. Many businesses get a merchant account as a cost-effective credit card processing solution when in need of a way of accepting payments from their customers. It is a highly convenient way for customers to make payments and also doubles as a way to obtain the funds. Businesses sign up for merchant accounts from a merchant services provider.

 

Credit cards are the most common way in which customers are making purchases both in a store and online. Many also use credit cards to pay over the phone and in some cases in the mail via information slips. There are many different ways credit cards are used to charge customers as it is both an industry standard and a secure way in most cases.

 

Check Payments

 

Checks at one point where the standard for accepting payments from your clients. At one point more checks were written than cash transactions. Checks gave consumers the ability to write out the amount of the transaction to make their payment rather than having to visit their bank to withdraw the amount from their account to present to the business in person. Larger transactions at one point in time were particularly painful to handle as a result.

 

Most business bank accounts provide their customers with a method of accepting checks. Businesses can bring their checks to the bank to have processed. Another method involves a check scanner or taking pictures using a smart phone to deposit the amount directly into their bank account.

 

Automated Clearing House

 

The automated clearing house, also referred to as the ASC system, provides a method of payment which withdraws directly from a customer’s bank account to deposit into the bank account of the merchant. ACH processing is a cost effective method employed by many financial institutions in the United States as a way of processing bulk payments. While the system is not updated in real time, it will post within a merchant’s business account within a number of days.

 

ACH processing generally involves a proof of permission to withdraw the amount from the particular bank account prior to the transaction being allowed. There are multiple stages in which a transaction is carried out before it reaches the merchant.

 

PCI Compliance Services

 

Merchants are always expected to protect the personal and financial information of every single customer they do business with. Whether the customer is a consumer or is a business it is not only important but required by law that the merchant respect certain standards to ensure that information is being properly secured and transmitted. The PCI DSS standards have been created as a means to ensure businesses are taking the security of their customer information seriously.

 

PCI compliance services aim to assist businesses by helping them through the 12 steps that must be followed for a merchant to meet the requirements set by PCI DSS.

PCI compliance

There are Common Services Used with Small Businesses

 


 

How To Succeed In Business Through Ecommerce Credit Card Processing

Success in business is determined by a variety of things. Some of those things might include company performance, team development, and customer relations. To create the best situation in each aspect of business, there are some things that you will need to do. For example, to increase company performance, you should speak to your team about profitability of your products and the momentum that you have going into the products or services. To increase team development, you should have classes and training sessions that deal with the topic. To increase customer satisfaction and customer relations, you should monitor the progress of your business and be sure to cater to the needs of your customers. One way to help your business succeed in all three areas is through ecommerce credit card processing. The following will show you how this can happen.

 

Company Performance

 

When dealing with company performance, this really means that you are looking at how well your products or services are doing and how easy it is for your customers to access the products that they want. For example, if you sell home decorating items, which ones are top sellers and which ones hardly get sold? How can you make sure that your products are being sold and that you have a turnover that is right for business? You might be wondering how this area of business can be impacted by ecommerce credit card processing services. The following will show you how.

 

•             The way that the best ecommerce credit card processing solutions can help with company performance is by making it easier for people to purchase the products that they want and helping you to keep a better inventory of the products. When someone finds a product online that they absolutely love and it is a huge hassle to purchase the item, they might just bag it and purchase something different. Through ecommerce credit card solutions, your inventory might have a better chance at reflecting which items truly are popular.

•             Another way that the best ecommerce credit card processing services will help to increase company performance is by putting the product or service out there to a much larger target market. Rather than just being able to sell by cash to people in your area, you can sell to virtually the entire world.

•             Using ecommerce credit card solutions is also a safe way to conduct transactions in business. When transactions are safe and secure, business will continue to increase because more people will trust the company, which is also related to customer relations.

•             Another way that ecommerce merchant solutions can help to increase company performance is that your company will not need to purchase or lease any equipment. This will end up saving you money that you can then use for production or marketing.

 

Team Development

 

One way to increase team development within a company is to hold training sessions where the employees will learn how to work together to achieve the greatest results. One of those training sessions could be all about ecommerce. You can teach your employees and staff how the credit card processing system works and what to do in case of a glitch in the system. When customers call with issues that they are dealing with in regards to the credit card processing system, your team will better know how to handle the call. When the team is able to work together to figure these things out, the morale in the company tends to go up and the team continues to develop beyond measure. Sometimes just the simple act of not having to deal directly with people and their cash and their wanting discounts on everything will help your team of employees and other staff members to come together and enjoy the workplace.

 

Customer Relations

 

This could be, perhaps, one of the largest ways that ecommerce credit card processing solutions can help a business succeed.

 

•             As was stated before, by having your products and services online, you are able to reach a much grander array of customers and potential clients. If those customers and clients are able to complete their transactions online through an efficient, safe, and convenient processing system, they will probably be more likely to come back in the future to make another similar purchase. As this happens, you will start to notice an increase in business as well as an increase in customer satisfaction.

•             When your customers have such a positive experience with your company and the ecommerce credit card processing solutions, it creates trust between you and your customers, giving them the confidence to recommend your company to friends and family members. By doing this, they will be directing even more people your way.

•             Another way that ecommerce credit card solutions can help your business succeed through customer relations is that it is quick. Your customers will not have to wait around for the transaction to finish, or even have to wait a few days to find out if their transaction went through. It is on the spot, which makes people in this fast-paced day and age very happy and content.

•             Ecommerce credit card processing is also a secure way to do business. When customers realize this, they will be more likely to continue business with you because they know that their information will be protected. There are many customers and potential clients who are turned away because the payment system simply does not look safe or secure. In such a case, they would probably turn to your competitor. That is why it is important to have an ecommerce credit card system that is reliable and secure.

 

Conclusion

 

Before you continue business the old school way, get on the internet and really start getting into the business world. Through the best retail credit card processing systems, you can succeed more fully in business. Three main ways that this can happen is by increasing company performance, creating team development, and developing good customer relations. To find out more about ecommerce credit card processing services, get on the internet and do a search. You might be surprised at all of the information that is out there waiting for you.

retail credit card processing

Success ways on Business via E-commerce Credit Card Processing

The Keys To Comparing Online Merchant Services

The decision to take your business online is an important one—after all, according to a recent analysis by Forrester Research, Inc., the volume of online transactions in the U.S. is expected to increase to $327 billion by the year 2016, up 62 percent from the 2011 volume of just $202 billion. During the holiday season, the busiest time of year for most retailers, online sales are expected to account for almost 25 percent of total sales, around $54 billion in 2012, according to the eMarketer report “Online Holiday Shopping Forecasts and Trends.”

 

Whether you want to add online retail sales to your existing brick-and-mortar retail business, or you’re planning to launch a standalone online store, one of the most important factors is finding the right merchant services accounts provider for your site. Here are a few key features that you should compare as you consider all the options available for online merchant service accounts.

 

There are a wide variety of systems available today, designed to accommodate everything from small mom-and-pop businesses to multinational companies with millions of dollars in sales every year. The kind you choose should be specific to what you need.

 

(1) Setup

One of the first considerations for your system is the setup. There are many different companies out there that offer a range of services with varying degrees of setup work required. One of the original online payment processing systems was PayPal, and it is still one of the best known, but today there are many similar systems to compete with PayPal, including Amazon Payments, Google Checkout, 2Checkout, and Dwolla. There are also a wide variety of integrated payment systems like Authorize.net, or some that combine online and in-person retail accounts, such as iTransact.

 

The simplest option is to go with a system like PayPal or Google Checkout. To setup these accounts, you simply create an online profile, link your bank account, and you are ready to begin accepting payments within a couple of days. More complex systems like Authorize.net, or those that combine in-person with online retail may require more information about your business, and the setup may take a week or more. The more complex systems generally charge a one-time setup fee, which should be factored into your overall cost analysis.

 

(2) Fee Structures

There is a cost to accepting online payments. In a typical system, the most common fees are:

•             Setup fees (if applicable) – these are generally a one-time fee.

•             Per-transaction fees – this is a flat fee charged by the merchant service accounts to process each transaction, generally between 10-50 cents.

•             Discount rate – this is a percentage of each transaction that is charged by the credit card companies to process the transaction. It is in addition to merchant and payment gateway processing fees, and usually ranges between 1-6 percent of the total transaction price.

•             Monthly fees – this is usually a flat fee charged by your payment gateway to maintain your online credit card processing account.

 

Some online payment systems, such as PayPal, do not charge monthly payment gateway fees or setup fees, but they do generally charge a higher per-transaction fee and a higher discount rate as a percentage of each transaction.

 

When comparing the fee structures, it can sometimes be difficult to compare side-by-side to find the best prices because they are all set up a little differently. The best way to identify which merchant services accounts provider will give you the lowest overall costs is to identify your average sale (for example, your average customer spends $40), and your overall monthly sales volume (for example, you process 1000 credit card payments that average $40 each, so your monthly sales volume is about $40,000). Companies with higher sales volume can generally negotiate better discount rates and per-transaction fees than those with lower volumes.

 

If you have a low sales volume, it may be more cost-effective to pay a slightly higher rate on each transaction and avoid monthly fees with a system like PayPal, whereas if you have a higher volume, you could achieve significant savings by negotiating a lower rate and paying a small monthly fee. Check out an online calculator that allows you to plug in basic information about your total sales volume and compare the costs of several different systems all at once.

 

(3) Integrated Services

If your small business is moving online for the first time, or you’re a novice web user who wants to offer your product online, one of the best options may be a company that offers an integrated package for small business e-retail. These packages usually combine website design, website hosting, online shopping carts, online merchant service accounts, and a payment gateway all in one.

 

A package like this can reduce some of the legwork you have to do, making the entire process of getting your business online very quick and easy. In addition, it may help you avoid compatibility issues that could crop up if you were to try and patch together each different component of your online system. Depending on what kind of one-stop-shop system you get, you could end up paying slightly more for the convenience of having it all done for you, but you may also be able to save money in the long run by combining all the fees into one monthly payment. Compare these carefully, just as you would for any merchant service accounts, in order to minimize costs and ensure you’re getting a good deal.

 

(4) Back-End Integration & Data Collection

One of the great advantages of online sales is the ability to capture a lot of valuable information about your consumers, including their buying habits, contact information, product preferences, and more. Simple online merchant service accounts usually do not offer you the ability to collect and aggregate this data, so if you’re interested in collecting more comprehensive information that you can use to track and analyze purchases, consider a more comprehensive system that can be integrated into your back-end database systems and help you capture crucial information.

 

(5) Customer Service

You already know it’s important to provide your clients with good customer service, and the same is true for your merchant accounts provider. Be sure to check out what kind of customer service they offer, including their technical support and other value-added features. These little things can make a big difference in your overall experience.

 

(6) PCI Compliance

Any merchant that accepts online payments must be in compliance with PCI DSS (which stands for Payment Card Industry Data Security Standards). These standards are set by the PCI Security Standards Council, and all businesses that process credit card transactions, regardless of business size or annual transaction volume, must prove that they are doing everything required to protect the financial and personal information of their clients. If you don’t know anything about PCI compliance, be sure to find an online merchant service accounts provider who can assist you with this critical step.

 

Moving your business online, or starting a new business online, is a great way to offer your products to a wider variety of customers from literally all over the world. With online sales expected to dramatically increase in the next few years, it makes sense to set up shop on the web, where new and existing clients can find you for easy, convenient shopping. As you prepare your new online store, be sure to use these step to get the best possible merchant account services that fit your needs.

merchant accounts

Know The Keys on how To Comparing Online Merchant Services

 

 

Managing Your Business While Away

From time to time business owners find it necessary to take a step away from the business to get a rest and to clear one’s head. During a vacation it can be particularly difficult to step away without having some sort of strategy in place to handle issues remotely. It is highly possible to be able to conduct business while out of the office. As technology has grown so have our strategies for handling issues away from the computer. Mobile technologies have provided business owners and professionals with a wide variety of tools allowing for businesses to continue to operate without being behind the computer.

 

Accessing Your Files

 

One of the most important aspects of operating business from a remote location is being able to access one’s files remotely. There are a number of ways to handle this. The simplest method is usually the best method for accessing files on the go. There are a number of solutions that aim to provide a user with access to their files from a number of different files. When you require access to your files from your smart phone, there are two methods that come to mind:

 

Google Drive

 

Google Drive is an online storage service backed by one of the technology industry’s largest juggernauts in terms of power. As the largest provider of search results in the world, Google provides businesses with an affordable option for online storage. Google drive works by allowing users the ability to store their files online with automated syncing between computer and the secured online server. This allows for multiple computers to contain the same files while also updating those files any time they are modified from these computers. It also gives users the opportunity to share live versions of a file with other users by providing them with different permissions. Some users may only be able to read the document while others may be able to update the document. Google Drive also supports versioning allowing for previous versions of a file to be accessed.

 

Dropbox

 

Dropbox is a very strong competitor of Google Drive which has a strong hold of the online storage industry. Dropbox is touted by industry specialists who need an easy way to not only store their files but to also share them with others. Dropbox also provides an application allowing for automated syncing while also allowing for the simple feature of sharing a file with another person by simply giving them a link to download the file. Dropbox provides free storage in addition to paid plans that offer various levels of storage to users. The features are competitive with Google Drive and are backed by its own mobile app.

 

Both solutions are complete with a mobile application allowing for users to access the files securely through the mobile application.

 

Keeping in Touch

 

Maintaining communication with your team is vital to the success of a business. Even when you’re out of the office there may be times when you need to confirm something with a team member. You may also need to respond to a client. Email is generally a common way of communicating in the business world as industry leaders and players all constantly use email as an easy way to relay information between multiple contacts. Most modern smartphones allow for email accounts to be directly integrated within the phone making it easy to compose an email directly from the smart phone. One would be hard pressed to find a smart phone that did not support email communications directly out of the box.

 

Conducting Business

 

One of the most common complaints of being away from the office is being unable to accept payment from a client. If you’re doing business in a fast-paced industry it can be difficult to close a deal without accepting the payment right then and there. Luckily, there are a number of mobile credit card processing solutions that allow for a business to gather the necessary information to process the payment right then and there. With solutions like Square and PayPal, there are a number of mobile solutions for accepting a payment from a smart phone.

mobile credit card processing

Managing ways on Business While Away

 

Fight Against Financial Crisis

As indicated by your money related needs, it is simple and helpful for you to avail loans at whatever point you need cash. At present, there are heaps of online giving organizations, which offer small loans without credit checks. As the name proposes, these loans are particularly offered for those awful credit individuals who need small cash to meet their fiscal obstacles. Life is brimming with sudden occasions that might be both great and terrible. Surprising occasions that unfolds some place at last or center of the month leaves you confused. Month to month sparing appears to be slipping off hands. Notwithstanding, do not be broken as these loans are the sure shot approach to dispose of those circumstances.

 

Do not stress on the off chance that you have late installments

 

You can get small loans without credit checks into your record inside a couple of hours of submitting the provision structure. No credit checking system is the included point of interest of this advance office. Cash-moneylenders and banks offering this advance are not worried about your credit history while endorsing the credit. In addition, the borrowers ought to have a dynamic financial balance in his nation. With all these criteria, it is simple for you to profit these loans.

 

Get money without going by bank

 

The world we live in is different now and individuals today have no time to visit bank and seek the credit. It is a result of this reason online mode of provision is picking up fame. With online provision, a borrower can fill the advance requisition structure straightforwardly from the solace of his home or office. This spares time and vitality as well as keeps the petitioner from submitting any kind of records. It is a without bother mode of applying. You can request small loans without credit checks at whatever time when you need without any faltering.

 

As per your fiscal needs, it is simple and helpful for you to profit loans at whatever point you need cash. At present, there are bunches of internet giving organizations which offer small loans without credit checks. As the name recommends, these unsecured business loans are particularly offered for those terrible credit individuals who need small cash to meet their money related obstructions. In the event that you need to take such loans, then you are recommended to try for a business review before requisitioning such loans. This will be profoundly valuable for any individual. It will help you in thinking about the rates and different charges of diverse moneylenders and selecting the best for the credit.

unsecured business loans

Fight for the Financial Crisis

 

Choose the Best Financial Option with Small Loans

It is safe to say that you are conveying an unsafe credit record, a few loan specialists have declined you another advance. Do not freeze in the event that you require the money related help for desperation as you can depend on small loans without credit checks. These loans are intended with the end goal of giving opportune cash help within 24 hours. You can get the credit sum in your bank financial records. In the event that there are different instances recently installments, defaults, back payments or CCJs specified in your credit report, do not freeze as you can at present get the approbation for a credit sum. These loans do not take into account any credit checks from the loan specialists. In this manner, you can quickly get the cash without uncovering your credit history to the moneylender.

 

Some required terms and conditions

 

Small loans without credit checks are allowed to everybody who needs dire cash. Thus, you do not have to stress for gaining small whole of cash as advance today! On the other hand, in the event that you need to take this advance, you will need to satisfy some required terms and conditions that might be

 

• You must be a real native of US.

• You must achieve over 18 years of age.

• You ought to have changeless employment.

• You ought to have legitimate financial records in US.

 

In the event that you satisfy these criteria, you are allowed to benefit such advance within few hours. To know more insights about advance quotes identified with best credit card processing, you ought to look at online to get the significant credit quotes. On the off chance that you get the sensible advance quote then you can spare cash at the time of reimbursement.

 

Profits of such credit

 

These sorts of loans provide for you get to the smaller cash extending from £100 to £1500 for a transient-of two weeks, until your next payday. On the other hand, you can reimburse the advance likewise in a month after you have paid back the investment charges. The advance sum might be put to any customary or earnest particular utilize, for example, repairing an auto, paying off dire bills, and using on family costs.

 

On the other hand, you ought to consider the high APR that is mostly connected with small loans without credit checks. Subsequently, obtain just a sum that matches with your limited reimbursement capacity. Once more, the benefitting measure of cash could be helpful to pay off pending bills to be paid. The trust is valuable to orchestrate different pending bills, for example, hospital expenses, home remodel, credit card contribution, wedding costs, phone bills, unpaid foodstuff bills, and different utilities. Thus, get this credit and diminish any monetary ache without lifting a finger!

 

As the name demonstrates, these loans empower an aspirant with small measure of cash that can used to satisfy makeshift needs. Unforeseen needs, for example, installment of house-lease, kid’s instructive needs, installment of basic need bills, pending week by week petrol bills, power bills or credit card bills appears to go overwhelming on your month to month plan. Procuring this advance, you can help inside time. You do not need to depend on your next payday to meet those closures meet. You simply request small-scale funds without credit checks and get cash advance to meet cash obstructions. It is a special advance for those bad credit individuals.

 

In the event that you are getting snappy cash as small business loans, it is likewise possible for you to enhance your credit status. Settle for an arrangement just after you have broadly analyzed a few small business credit card processing. Check the loan specialists offering you small loans without credit checks at focused expenses. Reimburse the credit sum without any deferral on the due date.

 small business loans

Here’s the Best Financial Option for Small Loans

 

Five Tips For Finding The Right Merchant Service Provider

If you are serious about the success of your business, then you need to make sure that you choose top-notch online merchant service providers to do business with. If you do a quick search online, you will likely be overwhelmed by the many different online merchant service accounts that you can choose from. If you don’t know how to narrow down your choices then you will have a very difficult time figuring out which online merchant service will be best for your company. To help you find the best online merchant service provider that will be a good fit for your company, here are five helpful tips that you should follow.

 

1.            Decide whether or not a bank can provide you with the merchant services that you need

Oftentimes banks will provide online merchant services along with regular banking services. Sometimes it is more convenient to set up an online merchant service with the bank that you regularly do business with. However, it is important to keep in mind that banks often outsource their merchant services and they may charge you a bit more than you would be charged if you worked directly with an online merchant service provider instead of going through a “middle man”. However, for some people the convenience of working with their local bank is worth the extra cost. It all depends on your preferences and your unique situation.

 

2.            Ask questions

 

If you are a savvy business owner, then you already know that you should ask a lot of questions before you decide who will handle your online merchant service accounts. Some questions that you should consider asking online merchant service providers include:

•             What is their track record? Have they had a long history of providing successful online merchant service, or are they brand new?

•             How is their customer service? Do they go out of their way to ensure the happiness of their customers or do they seem to put little emphasis on serving their customers?

•             Do they have a toll-free number that you can call with any of your concerns? If so, what are the hours that you can call? You never know when you may have problems with your online merchant service account, so it is important that you are able to contact your provider whenever you need to.

If you don’t ask questions such as the ones listed above, you will have a more difficult time narrowing down your options and choosing the best online merchant service accounts for your company needs.

 

3.            Know their fees

 

One of the first things that you should find out before setting up online merchant service accounts is how much they charge. Keep in mind that some companies may give you very promising price quotes, but they may not include some hidden fees in those initial quotes. Make sure that you are straightforward and let different online merchant service providers know that you want full disclosure of all of the fees and charges that you will be responsible to pay. If you are quoted a price that sounds too good to be true, it most likely is. If a company charges a ridiculously low cost for their merchant services, then they will probably make up for it by charging ridiculous fees or by offering very poor customer service. While it is always a good idea to compare prices and try to choose the company that charges the most reasonable price, make sure that you don’t fall for something that is too good to be true.

 

When you are comparing prices between different online merchant service accounts, make sure that you also look into their reserve policies. Reserves are simply extra fees that some merchant service providers charge as insurance for high-risk clients or for potential charge-backs. While you should expect to have reserve fees, make sure that they aren’t exorbitant before you sign a contract with an online merchant service company.

 

4.            Monthly volume caps

 

When you are looking for the right online merchant processing service, make sure you choose one that doesn’t put a cap on the amount of monthly volume that you can bring in. If the merchant service provider does impose a cap on your monthly volume, then you could find yourself suddenly without credit card services in the middle of a great sales month. This type of situation can spell disaster for an up-and-coming business and can make you lose potentially thousands of dollars. Before signing a contract with any online merchant service company, make sure that they allow maximum volume flexibility from month to month and will not impose any ridiculous caps that could potentially ruin your business.

 

5.            More questions

 

The importance of asking questions cannot be emphasized enough, which is why it is mentioned once again as the fifth and final step. You may feel like you are coming across as overbearing when you are asking potential merchant service providers question after question. However, if the providers have nothing to hide, they should be more than willing to answer all of your questions in order to gain your trust and your business. If you take the time to be extremely thorough and ask every question that you can think of about their services, you will be happy that you did. In addition to asking the merchant providers questions about their business, it is also a good idea to do some research on your own. Here are a few things that you can do to check out the background of various merchant service providers:

 

•             Check out their website online. The website should give you details regarding fees, customer service hours and toll-free numbers, a background on the company and why you should choose their services. The website may also include information about how long the company has been in business and where they are physically located.

 

•             Check with professional online business rating companies to see how the merchant service company rates. While not all merchant services companies will be rated by a professional business rating company, some of them will have great ratings while others have poor ratings. These ratings depend on their business practices, customer service skills, and the amount of complaints that they have received from customers.

 

If you follow the tips above you will be on your way to finding the best online merchant service providers for your business needs.

merchant processing

5 Tips on Finding Right Merchant Service Provider

 

Top 9 Reasons To Use Merchant Credit Services

Every business needs certain tools for success.  In particular, businesses should utilize the best merchant credit services to help them perform properly.  Without a merchant services account and the ability to accept credit cards, many businesses hinder their own success and progress.  In a sense, they are like a baseball playing hoping to hit a homerun without using a baseball bat.  Why would any player come to the plate without a bat?  It seems unreasonable.  The same can be said for businesses that are not utilizing merchant services; however, few realize the detriment that comes from this decision.   The following are 9 reasons why every business needs a merchant account.

 

1 – Credit Cards Are The Preferred Method Of Payment

 

Credit cards are the most popular form of payment used today.  In fact, consumers prefer to pay with a credit card instead of using cash – a trend that is only increasing.  This may sound obvious to many; however, some businesses still lack the ability to accept a credit card.  This makes it more difficult for a customer to pay and usually results in slow accounts receivables and late payments.

 

2 – Increase Collections

 

Since credit cards are the preferred method of payment, accepting them is the fastest way to speed up collections.  Instead of waiting two months for payment, businesses can receive payment today.  Although the merchant will charge a small fee (approximately 2 to 3 percent of the total payment), it is always better to get the money today rather than 2 months

 

3 – Accept Payment Anywhere And Anytime

 

Furthermore, using merchant services allows businesses to accept payment at anytime and at any location.  This is particularly beneficial for the small business.  The business owner does not need a large point of sale to conduct transactions.  Instead, he or she can use their creativity when it comes to accepting payment with the aid of the best small business merchant credit services.

 

•             Small business owners can charge a credit card and collect money in a variety of ways – over the phone, on the Internet, or in the office.

•             Many small businesses utilize their smart phones to collect payment on business lunches or at meetings.

•             Small businesses lacking a physical office or workplace can still conduct transactions virtually to ensure on time payments.

 

4 – Convenient

 

Using merchant services is much more convenient for the business and the customer.  In fact, merchant services have dramatically helped retail businesses to flourish and get paid quickly.  Many business retail businesses have begun to expand their point of sale with the help of the best retail merchant credit services.  Instead of accepting payments at the cash wrap alone, they now use portable smart phones as a cash register alternative.  This allows them to quickly charge a customer and then proceed to help someone new, making life easier and more convenient for the employee and the customer.  This is just one example of the convenience that comes from merchant services; however, there are many more.

 

 

5 – Easy To Use

 

In addition to being convenient for the business, merchant services are easy to use.

 

•             Businesses have access to a variety of software that makes it easy to accept credit cards.

•             Technology advances are providing a business owner with multiple ways to accept credit cards, including the use of smart phones.

•             Merchant service specialists are always on hand to assist the business if confusion arises.

 

Those weary of change would be wise to remember how easy it is to use merchant services.  Plus, many merchant service specialists provide companies with a free trial period to test out their services.

 

6 – Businesses Become More Efficient

 

When a business uses merchant services, they also become more efficient.  How is this possible?  Businesses pay a small fee to pass on collection problems to the merchant.  This fee allows them to get paid today instead of two months from now.  The 2 percent of the total payment a business was willing to give up represents new opportunity.  Now a business can focus their time and effort on processes that create new revenue instead of wasting time collecting revenue that is past due. Getting paid is a priority for all businesses.  The trouble with collection is that it puts businesses behind, because they do not have time to focus on collections and new opportunity at the same time.  For this reason, merchant services should be a priority.  When used correctly, they allow any business to increase their efficiency and allocate their time better.

 

7 – Customer Fulfillment

 

Customer fulfillment is a hidden bonus that often comes when businesses use merchant services and accept credit cards.  When customers have the option of paying in a variety of forms (credit, debit, check, etc.), they are more likely to be attracted to a business.  This has everything to do with human nature.  Providing customers with payment options allows them to exercise a little bit of control in the payment process.  This control is something all people urn for, especially when they are handing over a sum of money.

 

8 – Get Paid Globally

 

Merchant service accounts have also helped many businesses to work on a global level.  One of the biggest barriers to entry in the global market is the currency difference.  With a merchant service account, businesses can easily bypass this hurdle and begin accepting payment in a variety of currencies.  Remember that cards like Visa are accepted everywhere; therefore, businesses can accept payment everywhere too if they accept Visa with their merchant services account.

 

9 – Minimize Error

 

Finally, it is important to understand that merchant services helps to minimize error during the transaction.  Human errors are more likely to occur during a transaction involving cash or check.  The employee might accidentally miscount the money.  A customer could write the wrong amount on a check.  With credit cards and merchant services, much of the transaction involves a computer that is error-free.  Thus it makes sense to minimize error and risk with merchant services.

 

More and more businesses are opening up merchant service accounts everyday.  They are reaping the benefits that come with quick payment and growing their business’s bottom line at the same time.

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Top nine causes on how To Use Merchant Credit Services

 

 

Recovering From a Business Emergency

I wanted to share my story with other business owners to help them learn from the mistakes that I made. While I was successfully able to overcome a great challenge within our business, it certainly came at a cost for not being prepared for something that could happen to anyone.

 

Running a business has always been a rewarding challenge for me personally. Since I was young I had wanted to run my own business. I started out at the age of 22 after a bit of college in order to get something up and running. With my experience with IT services, I decided to start providing IT services to nearby businesses.

 

The business started out simple enough. I was talking with some small business owners in the area about how they could use computers to automate a lot of their work. I live in a decent-sized town that has a population of around 5,000. As a result, there are a lot of people who know each other. A lot of the local businesses were operating without the use of technology since technology was something they simply didn’t need to run their businesses.

 

From the start I got people set up with computers in order to keep a track of their orders and to be able to search for information on the Internet. I had taught some business owners and employees how to make fliers and other stuff directly from their own computer. Business at this point was starting to pick up as more businesses were starting to embrace technology.

 

One of my largest undertakings was taking advantage of solid ISPs in my area in order to be able to provide an additional service to local businesses. I had some experience with HTML and graphics programs and started to offer local businesses websites for their business. This started off relatively small and expanded outwards towards hosting the websites on-site alongside the email accounts of my clients.

 

I hired a friend of mine who had experience running servers and dealing with automation to help me run web servers directly in my office. It was at this time that I invested a significant amount of money into infrastructure to ensure that I could house around sixteen servers in our office location. Each of these servers had a connection to the Internet and were properly secured behind a firewall to prevent abuse and hacking attempts. While it wasn’t the most robust solution available, we were constantly monitoring the servers to ensure that things were always running smooth.

 

We had a number of businesses signed up to use our services for email and website hosting since we were local and we had built a level of trust amongst many of these businesses. At this point local businesses were beginning to embrace their newly beloved websites and were using them as a way to push specials and offerings to their customers who were now accustomed to searching online for the stuff they want.

 

We were now offering computer repair in our facility while also providing assistance with point of sale terminals among other things. Our business was thriving and we were pretty comfortable with our position as the one-stop IT shop.

 

One morning I awoke to a call from one of my customers wondering why they couldn’t seem to download their email. I asked them for a little more information and figured that there must be an issue on their end causing it. I got dressed quickly and drove over to try to help them figure out what was going on. Within ten minutes of troubleshooting I couldn’t figure out what precisely the issue was at that time.

 

It dawned on me that it could simply be an issue with their account in our own system. I pulled out my laptop, got connected to my VPN, and went to work to try to figure out what was causing the issue. It was at that moment that the shocking truth had hit me:

 

Two of our sixteen servers were completely unresponsive.

 

I informed the client that there seemed to be an issue at our own site and quickly left to figure out what was going on. I also called up my friend to get him to meet me at the office. He arrived before I did and was already trying to figure out what was going on.

 

It seemed that we had suffered from a power loss at some point. We had generators set up to retain power during a power loss, but it seemed there were some units that didn’t quite hold up to the amount of time that the power was out. At this point I would like to say I have learned quite a few lessons in electrical redundancy and have rectified these issues with regular testing of these units in addition to the a larger generator at the office location.

 

The power outage had managed to cause two separate issues amongst these two machines. One of the machines was simply having problems booting up which was resolved after about thirty minutes of diagnosis, but the second issue was a hardware issue. It seemed that the sudden power loss had damaged the motherboard of the particular server. At this point I had to figure out how to make a last-minute replacement of this server to get it back up and running.

 

Since our finances were tied up in expansion, I had no choice but to find a last-minute solution to the problem. We contacted our local bank to see if we could get a business loan but found out that the bank was unable to process loan applications for a period of time due to issues with their own systems. How pleasant.

 

Our only recourse was to find another way to pay for the parts we needed since they were quite costly.

 

That’s when we found cash advance loans. I applied for a merchant cash advance loan and was quickly approved for the funds I needed to get things back up and running. Within the same day I had another motherboard at the location and we managed to get the machine back up and running. We had some unhappy customers, but I managed to explain the entire situation and what we were doing to both alleviate it and prevent it from happening in the future.

 

With everything resolved, we certainly learned a valuable lesson. That large downtime could have cost us a lot of business which would have hurt us in the long-term.

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How to Recover From Business Emergency