Merchant Services

It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction. The purpose of the merchant descriptor is to identify whom the payment was made to. Whenever a merchant goes for the  merchant account , he or she is asked to provide the merchant descriptor as well. WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR? Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor. A descriptor gives clear information about the merchant and the purchase. This helps a customer to quickly identify the transaction. That also results in a low chance of the chargeback from the customer’s end. According to the various reports from the card networks, most chargebacks are filed simply because the customer did not identify the transaction. Now you...

As Magazine Subscription business, your first criteria is finding a service provider with suitable rates. There are a number of costs you have to consider. There is startup cost to set up your merchant account, configuring/customizing it for your business, and PCI annual fees. There are other types of fees such as transaction charges, which can be flat per transaction or variable. Some merchant account providers have monthly charges for any number of transactions. Online payment processing services differ with every merchant account provider, so it will be helpful for you if you understand the overall cost. Contact Merchant Stronghold for a Fast Solid and  Secure Merchant Account . Safe and Secure Processing All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure. Online information is a great matter of concern for business owners. Ensure th...

Technical Support Checklists Merchant represents and warrants each of the following by checking it and signing below: Merchant is engaged in the business of offering technical support services and has obtained, and throughout the term of the agreement will maintain all local, state, and federal licenses, registrations, and approvals required to conduct such business. All technical support services for which Merchant services charge any customer will be provided only by the Merchant, and will not be referred, re-directed, or outsourced to any third party. Merchant understands, currently fully complies with, and during the term of the agreement, will fully comply with all relevant provisions of all of the following as amended from time to time: section 5 of the Federal Trade Commission Act, 15 U.S.C. §45; The Telemarketing and Consumer Fraud and Abuse Prevention Act. 15 U.S.C § 601, et seq(“TCFAPA”) and all regulations implementing the TCFAPA including without lim...

Travel-oriented businesses are considered risk merchants as far as  credit card processors  are concerned. Therefore are among the most difficult business types to acquire successfully accepted for a Merchant Account. The reason is that experience demonstrates that customers are impressive. They are more able to dispute and chargeback travel agency transactions than most others. Domestic & International Account International merchant accounts are the best solution if you have target markets outside of the US.   Establish accounts with acquiring banks in all the regions in which business is conducted. Save money on processing fees by taking advantage of the lower intra-region interchange. Decrease foreign exchange expenses Pay local vendors and workers in local currency Gain access to alternative payment methods popular in many parts of the world A domestic high-risk merchant account works well. The USA acquiring banks will accept travel ...

In this article, we discuss the details related to  Credit Card Payments  After Signature Rule Change. We will discuss old and new rules related to the payment after signature. For more information, feel free to contact Merchant Stronghold at the toll-free number. Why There was Need to Make Changes to the New Rule? Other card networks such as Visa, American Express followed over the steps of the MasterCard. But the Visa made it optional to sign on the receipt. Here are factors that made card networks to change the norms related to signature. The Card brands wanted to speed up the  payment process  by eliminating a step that is Signature. Also, a signature is not strong evidence to fight against chargeback/fraud for a merchant. Most of the signatures were unrecognized by the customers. Also, most of the people are adopting the internet banking methods, where signature rules are not applicable. Moreover, by applying the proper safety instruments...

If уоu аrе a high-risk business, your орtiоnѕ are a third раrtу processor or using an offshore merchant ѕеrviсе рrоvidеr. Either way, mаkе ѕurе thаt уоu ѕhор аrоund to find thе bеѕt роѕѕiblе ѕоlutiоn fоr your business. SELECTING A HIGH-RISK MERCHANT SERVICES PROVIDER Whеn choosing a  high-riѕk mеrсhаnt provider , always bе guidеd bу thе golden rule of rеаding аll dосumеntаtiоn рrоvidеd аnd аррliсаtiоnѕ thоrоughlу. Thаt inсludеѕ; finе рrintѕ, nоtеѕ, tаxеѕ, fees, contingent fееѕ, miѕсеllаnеоuѕ charges аnd any tуре оf rеѕеrvеѕ аѕѕосiаtеd with the ассоunt. Aѕk ԛuеѕtiоnѕ if some оf thе рrоviѕiоnѕ аrе ambiguous. Mоѕt оf thе mеrсhаnt service providers have diffеrеnt fees аnd charges fоr оnе buѕinеѕѕ tуре tо аnоthеr. Hеnсе, it would bе better to аѕсеrtаin thаt уоu аrе rightlу classified, аѕ you should bе.Tаkе thе timе to gо thrоugh аll the imроrtаnt facts of gеtting a high-risk merchant services ассоunt. It mау tаkе a bit mоrе timе thаn tурiсаl ассоunt, but remember, withоut ...

This means, for a merchant, the transaction descriptor is far more important than to a customer. An incorrect or non-informative merchant descriptor can lead to chargeback, which is, even more, worse for the business. This article contains all the details necessary for a merchant regarding the Merchant Descriptor. WHAT IS TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR? It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction. The purpose of the merchant descriptor is to identify who the payment was made to. Whenever a merchant goes for the merchant account , he or she is asked to provide the merchant descriptor as well. WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR? Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor. A d...

Let’s now discuss various possible reasons for declination of application for credit card processing : Age Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age. Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age. Incomplete Application Form If you don’t complete the application form completely or correctly, it can lead to denial. So it is better to apply for  credit card processing  online as it will not submit your request until and unless all the fields are full. Loan Balance If you want to apply for credit card processing, make sure that you pay your loan balance regularly if any. When you apply for credit card processing, your credit history is checked and if it is negative, the bank or the processor will hesitate to accept your request to avoid risk. Healt...

Why considered as “High-risk” In the year 2010, the proprietors of many membership websites found their  merchant account  closed abruptly. The reason for this action was new guidelines released by MasterCard that put certain practices common to the membership site business model under much greater inquiry or analysis. Before MasterCard implemented new rules, many membership sites used techniques that were widely regarded as deceptive or even fraudulent. Not only MasterCard changed its policies, but Visa had also issued similar guidelines. This resulted in conceding all the membership sites as high-risk merchants. Affect on business Your membership site may be entirely forthright and honest with its members about any charges to their cards, but being part of an industry with a reputation for deception makes it harder to obtain a membership site payment processing account – especially one with decent rates and conditions. Being the part of an industry with a r...

Add a merchant account to your online ID theft Protection business and keep your customers happy. As a result, providing multiple payment methods to customers will return you trust and money. Ultimately, if you are starting or already started your ID theft Protection Company and like to accept  credit card payments  then you just need an online merchant account. Because this is the account where your customer’s card details are sent for verification. Therefore, once the details of the customer’s card get verified, money is transferred to your company’s bank account. Our team will give you advice on merchant accounts so that you can start as new or switch current provider and save money. INTERNATIONALLY RECOGNIZED PLATFORM Merchant Stronghold  has set up many accounts of ID theft protection companies. The online merchant account provides convenient multi-currency solutions so that you can offer better service to your customers. Business owners...

High-risk  Merchant Account All kinds of financial institutions process money. And when it comes to processing money. They are followed by regulators to classify merchants as low risk, medium risk, and high-risk merchants. Payment processor will never accept you when they think you process high risk and there are chances that they will lose money. And even if they accept you they will charge very high transaction discount rate. There are a few reasons why your business can be a high-risk business. Few reasons are: Questionable sales and marketing tactics You have lost your previous merchant account due to high chargeback ratio. Potential legal and financial liability An industry is known for excessive chargebacks or fraud incidents Your credit is really bad. Trial continuity business Also, you’ve been branded as the terminated merchant (TMF). Previous credit card processing is not good enough OBTAINING HIGH-RISK MERCHANT ACCOUNT If you are not getting...

In the hope that you plan to be competitive in the present marketplace, you must choose the option to begin accepting credit card payments. Be that as it may, many small businesses aren't as readied as they should be keeping in mind the order to manage this function. Is that your situation? Not exclusively do credit card transactions cost you cash, yet they can open you to unsafe security risks that may compromise your organization's activities and stability.  Yet, in the event that you know how to accept credit card payments in a safe and efficient manner, that will go a long way toward setting up your firm as a successful player in your industry. Credit Transaction Benefits Despite entailing processing fees, credit transactions are more efficient and adaptable. They offer merchants — both the on the online and brick-and-mortar variety — a number of tangible benefits, for example, Expanded sales. Many customers expect you to accept credit cards . In addi...

Working a home-based business can display its own offer of difficulties. All things considered, it’s still important for the owner to handle inventory management, sales, and announcing in a proficient way. Regardless of whether you offer things on the web or customer come to your home-based business to make purchases, you should have the capacity to ring up sales precisely and streamline whatever accurately procedures as could be expected under the circumstances. Stock Management Despite the sort of home-based business that you operate, it's imperative to stay aware of your Inventory. This is frequently a standout amongst the most noteworthy difficulties looked by numerous home-based business owners. An online spreadsheet can just do as such much, however, a point of sale system designed particularly for home-based organizations introduces the chance to oversee stock rapidly and effectively.  Home-based business owners can pick up understanding into which item...

Thinking of  accepting payments online ? Great idea. Online shopping is a booming industry across the globe and U.S. To get started, you’ll need to select a payments-gateway provider to integrate with your current payment system, build your online shopping cart and process your customers’ online payments similarly to how payments are processed in-store. But with so many  payments gateway  providers to choose from, finding the one for your business can be overwhelming and confusing. Here are the top nine things you should consider before making a selection: 1. Your Customers' Experience It’s common knowledge within the payments industry that offering your customers more ways to pay creates a better customer experience. Great customer experiences lead to repeat customers, which often leads to referred business. Adding an online element is a great step towards creating a positive experience in your customers’ minds. 2. Technology and Functionality ...