Archive for August, 2005
There are 2 options for a business when choosing to accept credit cards on the internet; a traditional merchant account, and 3rd party processing. 3rd party processors are companies like Paypal, 2Checkout.com, and Ikobo. Both, merchant service providers and 3rd party processors essentially provide t...
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August 30th, 2005
These are some of the most popular credit card machines that are currently being sold and used in the US.
The main brands being used in the US are Verifone, Hypercom, and Lipman. All three companies have terminals that are well suited for just about any business. Lipman is by far the leader in wi...
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August 29th, 2005
I wrote a lengthly truncation article about two years ago on my business website, and I think it is important enough to post an article about it here. Visa and MasterCard ha...
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August 26th, 2005
This weekend, I was shopping at a business here in Austin, TX and I noticed that the there was a minimum purchase to be able to pay with a credit card. I politely informed the business owner that this was a prohibited practice and I was rudely returned with a "if they're going to charge me for takin...
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August 24th, 2005
I'm not going to pose this topic as a question, I'm just going to say it. Merchant Service Providers are better than banks for providing quality credit card processing services.
Merchant service providers provide the same type of service as banks, but do it with better customer service and suppor...
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August 23rd, 2005
The Credit Card Processing Industry has a very long list of reasons that a customer can charge back merchandise for. It is unfortunate that all credit card fraud and protection laws are written with the consumer in mind and not the business owner.
It's ludicrous to imagine that a consumer has no...
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August 22nd, 2005
Hopefully you have never been presented with the situation of your business needing a reserve account for your credit card processing. Delta Airlines has just been threatened with a reserve account for their credit card processing that could cost their business over $750 million dollars in just 2 m...
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August 19th, 2005
There are literally thousands of organizations that can set you up with credit card processing. Of these thousands of businesses, there is a large percentage that is out there just to take your money....
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August 18th, 2005
Every merchant account application consists of 4 main sections; the business and past history, anticipated processing volume and anticipated transaction information, merchant account fees, and the signature section. The Merchant Account Fee section is undoubtedly the most complicated section and is ...
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August 17th, 2005
A seasonal merchant account is exactly as it sounds, a merchant account that is only active for a portion of a year.
Businesses like firework stands, fruit stands, and seasonal tourist businesses can benefit greatly from setting up a seasonal merchant account. Seasonal merchant accounts are not ...
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August 16th, 2005
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