How to Use a Merchant Account and Process Credit Card Transactions with a Mobile Phone

Now more than ever, it is important for a merchant to be able to conduct business on the go. Being able to do business on the move opens up doors for a number of new opportunities that will provide great financial gains. Not to mention, it will allow for a merchant to lead a flexible life, traveling and living where he or she wants. Opening up a merchant account from this website and using a mobile phone for credit card processing is a surefire way to make one's business portable.

How to Use a Mobile Phone for Credit Card Processing with Bluetooth Credit Card Swipers

One way that a merchant can use his or her mobile phone for Visa processing and Mastercard processing is to procure a bluetooth credit card swiper. A number of merchant services offer such tools that will work with mobile phones. A merchant who is interested in using a bluetooth credit card swiper must do the following to insure success:

Make sure the mobile phone has bluetooth capability (A smart phone will not only guarantee that the mobile phone is bluetooth capable, but such a phone will provide a host of tools that will make running a business simple and easy.).
Make sure the bluetooth credit card swiper is compatible with the phone that the merchant has.
Make sure the company that the merchant wishes to establish his or her merchant account with will provide optimal technical support for any problems that may arise, including support for the credit card swiper.

A merchant who keeps these points in mind and follows them closely will most certainly be able to work with customer accounts and perform credit card transactions while on the go.

How to Use a Mobile Phone to Process Credit Card Transactions with Paypal

Paypal is one of the most popular and most reputable merchant services that provide a wide range of tools to conduct business on the go. Virtual Terminal is one of the best payment solutions that Paypal has to offer because it will allow a merchant to process payments by opening up a browser, logging into the Paypal account, and pulling up the Virtual Terminal to either authorize a credit card or process a payment right away. With the Paypal Virtual Terminal, the merchant will not have to worry about keeping track of any extra equipment.

How to Make Sure All Transactions Run Smoothly

To insure that all transactions run smoothly, a merchant will need to make sure that he or she sets up the merchant account with a reputable company. Some measures that a merchant can take to make sure the company that he or she will be dealing with is reputable are as follows:

Do research on the background of the company that the merchant is thinking about using.
Ask for recommendations from other business colleagues.
Read through reviews on various companies.

Taking these measures will safeguard against the merchant contending with problems that can potentially put his or her business in jeopardy.

When a merchant processes credit card transactions from the mobile phone, he will she will enjoy great success. The merchant will be able to take the business to brand new heights.

What Are Merchant Account Chargebacks?

If you are planning on using merchant account services in order to collect money for your business, you will need to be aware of how your merchant service works. This will allow you to collect payments with ease and have little difficulties in your financial aspects of your business.  One thing you will need to be wary of is chargebacks. Take a look at the following information, to learn more.

A chargeback occurs when there is an issue with payment. This allows for a reversal of the payment to occur, which means that the payment will not go through. In some cases, a customer may have been unhappy with the service or product that was purchased. If this is the case, he or she can make a claim with their Credit Card Company or financial institution. Additionally, this may occur if fraudulent activity occurred. This may mean that a card holder's credit card was stolen.  In these situations, the card holder is making a claim so that he or she will not be held accountable for the purchases that were made. This puts your company at risk.

If a chargeback occurs, you may not get your money. This means that your company can suffer due the irresponsibility of another person. If you are not fully prepared, you will not be in control in these types of situations. It is important to understand how the chargeback process works as well as how your merchant services company handles these situations. This will allow you to protect yourself and can make it possible for you not to lose money. This is the only way to have control.

It is important to protect yourself against these situations this website explains why. Before choosing a visa processing or credit card processing company, you should look into additional security services that will protect you from chargeback’s. Some companies offer additional security measures against fraud and other situations. This can allow you to have a plan in place, so that you can win any future chargeback cases. It is a good idea to ask around so that you can understand the security methods that are available. It is possible to fight a chargeback case if you understand your merchant technology and have fraud prevention techniques in place.

If you want to keep more money in your company's account, you need to be careful when making your financial merchant account selection. There are many companies to choose from, but you need to make sure that you are working with a reliable and reputable company. You will find that some companies take extra steps to protect against fraud and chargeback’s, while others do not. Taking the extra time to research can protect you from future problems.

You do not have to put up with chargeback’s. Make sure that you understand your MasterCard processing company's terms and services so that you can protect yourself against theft and other unwanted chargeback’s. If you do your research and understand your options, you can be in full control of your company's financial future.

A Brief Overview of Card Processing

A merchant account is a credit extension provided by a financial institution that allows your business to accept credit card payments from customers. Whether your business is large and well established or small and just getting started, a merchant account may prove to be extremely beneficial. While this method of handling business transactions is not new, changes in credit card processing may help you attract and retain customers, and handle payments in an efficient and secure manner.

How Card Processing Began

When the first revolving charge cards were introduced in the late 1950s, cardholders could make instalment payments to repay their credit card balances. Unlike the electronic processing devices that are currently used, manual imprinting machines were used to process such payments. Many merchants retained these machines even when the telephone payment system debuted, and the manual imprinters often served as an excellent backup when problems occurred with electronic processing methods. Current merchant account processing may result in:

• Improved customer service
• Secure payment processing
• Streamlined procedures that benefit customers and merchants

Improvements in merchant services have made establishing a merchant account increasingly attractive to many business owners. Highly trafficked retail establishments are less likely to lose business due to a slow or cumbersome checkout process. Likewise, online transactions can be handled relatively quickly and securely with a merchant account in place.

Businesses that may benefit from a Merchant Account

Larger and more established department store retailers have long offered their own cards and accepted instalment payments. In exchange for paying a monthly charge, many customers have long been satisfied with being able to acquire desired items and pay for them over time. Technological advancements in general, however, have also made credit card processing advantageous for:

• Grocery stores
• Doctor’s offices
• Restaurants
• Independent vendors
• Mobile merchants
• Web-based businesses

Businesses as varied as midsized retail outlets, small retail establishments owned by families, franchises, and large corporate conglomerates may better serve customers by using a merchant account. Even fair and craft show vendors may securely accept credit card payments with a merchant account. As more and more consumers rely on paperless transactions, this sort of payment processing may be especially attractive for seller and buyer as well.

A Sampling of Merchant Account Processing Options

• Visa processing
• MasterCard processing
• American Express
• PayPal
• Google
• Yahoo

It is important to note that only a reputable business like this website may legitimately acquire a merchant account. Accordingly, misgivings about paying for merchandise or services electronically may be resolved by consulting agencies or reports dedicated to consumer protection and retail fraud. As merchant account services have evolved from relatively cumbersome manual processing, telephone and point of sale payment systems and to more sophisticated electronic methods, secure handling and storage of information must necessarily remain a priority.

Making the most of Merchant Services

The increasing use of electronic payment methods by so many consumers speaks to the apparent convenience and relative safety of such transactions. Accordingly, many people looking to improve their perceived legitimacy and ultimately increase their business revenue are more likely to take steps to expand their merchant services. Even if this is new territory for you, working with a reputable card processing company can lead to establishing a payment system that benefits your business as well as your customers.

An Overview of ATMs

Many people may find it hard to remember a time when they conducted most of their banking transactions with paper checks, withdrawal slips, and deposit tickets. For those who have literally grown up with electronic technology, ATM services have likely always been a part of their lives. Going to the bank for many people, in fact, rarely refers to actually stepping inside the financial institution and interacting with a teller, but in fact means using automated teller machines. Financial institutions completely without ATMs would be anomalies, as full service now includes comprehensive ATM services.

The ATM Predecessors

Long before the current network system that most people are familiar with, ATM predecessors were installed at some of the larger banks in various locations around the world. While not true automated teller machines, they nonetheless paved the way for the devices and ATM services currently used. Highlights of ATM history include:

• The Bankograph, installed in 1960 in First National City Bank, New York City
• A Cash Dispenser, installed in 1967 in Barclays, London
• A Card-Eating Machine, installed in 1968 in Barclays, London

The idea behind the aforementioned devices was to provide another way to complete at least some routine transactions. The Bankograph was conceived as a way for people to pay their utility bills and receive a paper confirmation without interacting with a teller. The cash dispenser, however, required the use of paper vouchers that customers had to buy from bank tellers before using the machine. Likewise, the card-eating machine left customers needing teller assistance to get new cards for their next transactions.

The Next Wave

By 1969, ATM services were increasingly moving in the direction that most people who use ATMs are accustomed to. This included changes in the plastic cards and new ways of advertising ATM services. The next round of developments included:

• Magnetically encoded ATM cards
• Ad campaigns focusing on ATM services
• Patent applications by Docutel

While many people debate when the first true ATMs came into existence, the Docutel machine installed at Chemical Bank in New York was the first to use plastic cards with the familiar magnetic stripes. Perhaps not surprisingly, Chemical Bank soon began marketing this new addition as a means of providing banking services well beyond traditional business hours. Despite the other manufacturers that looked to provide ATM services, Docutel is widely considered to be the inventor of the automated teller machine, as they were the first to apply for an ATM patent. Other early manufacturers included:

• Diebold
• Fujitsu

The Docutel machine, developed by Donald C. Wetzel, was not well received initially, as bankers worried about the higher annual cost of operating such devices. Bankers worried that their customers would not be comfortable allowing a machine to manipulate their money as well. In spite of these valid concerns, ATM services were advanced by:

• The Total Teller, unveiled by Docutel  in 1971
• Proliferation by Docutel and Diebold in 1973
• On-line ATMs introduced in 1974

A Final Word on ATM Services

Improved production techniques, lower costs, and the potential to provide innovative ATM services saw a rapid increase in the manufacture and sale of ATMs throughout the 1970s, leading to the highly serviceable machines consumers are now used to. Any financial institution looking to grow their business and provide superior customer service would likely benefit from working with a professional ATM provider like this website, to ensure that their ATM services meet consumer demand.

ATMs and Credit Card Usage: Will it Work for You?

In keeping with the steady demand for remote or non-traditional access to financial services, ATM services have likewise been expanded to handle more than just the occasional withdrawal of small sums of cash. Having a debit card can certainly make things easier when you need quick cash after normal banking hours have ended, but being able to use a credit card at ATM may allow you to complete many routine but important transactions. Likewise, financial institutions that accept credit cards at their automated teller machines may garner new business and customers as well.

Credit Cards and ATM Services

Your credit card may give you greater financial flexibility, particularly if your work or personal life frequently takes you away from nearby bank branch locations. Accordingly, you may have a much easier time of finding an institution that accepts your credit card as well. While your debit card may have a relatively low daily withdrawal limit, using your credit card may allow you to perform ATM services such as:

• Cash advances
• Deposits
• Bill pay

While performing a large cash advance may mean paying a fee, the amount may be considered nominal depending upon the circumstance and need for the cash. Likewise, being able to complete more complicated deposits at a machine that is part of an integrated network may be invaluable as well. Some ATM services even allow cardholders to use their machines to pay phone, utility, and other customary but important bills. Fully integrated networks may let you complete sophisticated ATM services including:

• Accessing bank statements
• Transferring funds
• Updating financial records
• Buying train tickets
• Securing movie or concert tickets
• Adding credit to prepaid cell phones
• Initiating loans

Being prepared to use ATM Services

While all automated teller machines may not be equipped to handle such impressive ATM services, being able to use your credit card for basic transactions may be especially advantageous during an emergency. Accordingly, you should verify what you can and cannot do with your credit card before you travel or intend to rely on it for cash. You may be able to easily access your available funds if you have:

• Your personal identification number  
• A customer service phone number or contact
• An undamaged card

Many companies assign PIN numbers along with their cards, allowing customers to use ATM services as soon as possible. If you do not have a PIN or need a new one, requesting one in as far advance as you can would be strongly advised, as such sensitive information is often delivered only through secure and potentially slower channels.

Making the most of ATM Services

As this website stated, one of the best ways to make using ATM services with your credit card less costly is to avoid machines with low withdrawal limits and ideally get the cash you need in one transaction. Machines that accept credit cards are often sought out and are increasingly popular with consumers. Accordingly, many financial institutions would likely benefit from working with a reputable ATM provider that offers as many enticing ATM services as possible as a way to increase revenue and expand their customer base.

Looking At Wireless Credit Card Terminals

Owners of mobile businesses have come to understand how important and necessary cellular credit card terminals and wireless credit card terminals have become for them. It is a simple fact of today's life that people are simply bringing less cash with them when they are out shopping, particularly at those locations and places mobile business has a strong presence. So many places such as outdoor kiosks, street fairs and farmer's markets today have little use for the conventional credit card machine or debit card machine.

Positives Of Credit Card Terminals That Are Wireless

There are truly quite a few benefits and positives of the use of a credit card terminal that is wireless. Following are some of the more important ones to look at.

- Because less cash must be handled, security is much greater.
- Sales will be increased
- Processing and transaction times will be faster
- Transacting business will be much simpler to do
- Due to cell service disruption processing will be delayed.

The reality of the business world today is that everything is becoming more and more mobile. Because of the cellular credit card terminals however, the business owner is able to finish successfully any sale wherever the business takes them. Merchant services and merchant account companies now fully understand the need for mobile processing and have started to greatly lower any fees connected with the use of credit card terminals which are wireless.

If you click this website they will offer a reputable, honest and caring merchant account provider that will provide those users of the wireless credit card terminals a very high degree of mental and physical security by offering to them:

- Data encryption at a very high level
- Rather than voice transmission, data link processing instead
- Transaction fees that is similar to those of a traditional credit card
- Processing that is instantaneous
- Same day funds deposits in almost all cases
- Transaction logs and web based statements

Doing business on the run certainly requires reliable and strong credit card terminals which are wireless. And one of those excellent merchant services companies will help one locate the best wireless credit card terminals to fit their own special situation. It is important for one to keep a few things in mind when looking over the various kinds of hardware that will be used to put through one's mobile transactions:

- Will most transactions be conducted outside or inside?
- Will there be a lot of different people using the same equipment?
- Will a physical printer be needed or will customers take email and text receipts?
- Will it be necessary to batch one's transactions to be able to process them, or can they be done one at a time?

There is a bit of planning and thought that must be put into making a success of one's mobile business to be sure. Once it is in place however, the benefits start rolling in immediately.

Benefits of chip compliance

Due to the fraudulent incidents associated with credit card, a new program is implemented for the convenience of merchants to eliminate and control fraudulent purchases. With the help of this new technology, a new chip is inserted in the credit card to avoid swiping of the cards. Instead of a card with a magnetic stripe authorized and swiped by a signature, the chip card is inserted at the terminal where it is kept for the PIN to be entered. This PIN is a secret numeric password with the help of which the user’s right to the card is authenticated.

     What Is Chip Compliance?

     This new technology with implanted security microchip in the credit card was first used by Visa and MasterCard in Europe and this technology is now being implemented in Canada where the credit cards with magnetic strip won’t be accepted any longer by the merchants by the year 2015. It is necessary for the merchants to switch their terminals to the latest chip compliance for enabling the use of chip cards instead of magnetic cards. If they don’t do this, this will result in disconnection and inability of continuing transactions for services or purchases. Financial institutions are sending notices to the merchants with non-compliant terminals warning them in advance about their disconnection. Hence it is necessary for the merchants to have their credit cards terminals upgraded in order to carry out their business smoothly.

     Advantages of chip cards

     It is necessary for every agency or merchant who accepts payments by credit cards from the local corner store to the Department of Transportation to have chip compliant terminals. Following are some advantages of a chip credit card.

•    Signature can’t be reproduced fraudulently

•    Since the chip information cannot be duplicated or copied, a chip credit card offer better security

•    It is possible to store more programs and information on a chip credit card compared to a magnetic stripe

•    Unauthorized usage is protected by security programs in the chip credit card

•    The use of chip credit card ensures reduced fraud and increased security

•    The processing time of purchases is saved with the use of a chip credit card

          Demerits of chip credit cards

•    Like with any other technique or technology introduced in the field of security, a chip credit card has its own disadvantages as well. Some of the disputes associated with this new technology are as follows.

•    It is necessary to bring new chip credit card terminals; otherwise disconnection will occur making the purchases impossible.

•    There are still chances of fraudulent transactions, if the PIN is known to other person.

•    It is difficult to prove fraudulent purchases especially for services/purchases in foreign countries.

          Canada has certain excellent merchant services which are very useful to small businesses with the purchase of chip credit card machines, minimizing the existing costs, payment processing fees, and any other worry that may confuse or obstruct the business owner. When a merchant account is set up with any of these service providers, guidelines and information is provided by the service providers in a cost-effective manner for the business. The service providers also help to prevent any kind of obstacles because of out-dated information, thus making the switch easier.

          Most of the merchant services also offer chip-ready credit card terminals which a business owner can lease or purchase and this is the most favorable option. The solutions for credit card processing are offered by these service providers that best suits the budget as well.

Understanding Transactions Involved in a Merchant Account

If you want to use non-cash forms of payment in your business on your website, you need to use merchant services and payment processing accounts.
The merchant account along with the processing services will help you take the money your customers want to give you and place it into your account.

Understanding Transactions

When a customer shows you a debit card or a credit card, there are several stages that will take place when the merchant swipes the card.

Authorization -- The authorization process takes place after the computers conducting the transaction connect to one another.  The cash register or retail terminal will receive word about whether the credit card was declined or approved.  When a transaction is approved, the computer used by the clerk will contact the bank issuing the cart to start the transfer of funds. No money has changed hands yet.

Merchant Stage -- This part of the process, also called merchant balancing, has the computer add up the amount of the sales.

Data  Capture -- The computer that handles the transmission sends the information back to the point of sale terminal. After this stage, the transaction goes into the clearing stage. When it's all done, the two systems agree to disconnect.

How Debit Card Transactions Work

Debit card transactions go through all of the same steps that the credit card will go through. There are several preliminary stages.  As the reader knows, he will swipe his card at the terminal. If the cashier selects a debit card option, the point of sale terminal will the user for his pin. The payment processing service will check the users account, if there is money in the account, it will be deducted automatically. If the funds are not there, it will be declined rather than overdrawn.

Why Use Credit Card Processing

Not every business uses a credit card processing company. Small businesses may find that it does not benefit them greatly and that the cost may be higher than they expected.  A business owner is within his rights to have a minimum transaction for credit cards, but he should not go without a credit card processor. The trick is finding the right service for a business of any size.

Almost any bank will offer this service to a customer who is willing to pay the fees. Some banks will charge a per transaction fee while others will charge a service fee. What a business owner wants to look for in this type of service is customer service that is good as what he offers to his customers. Many people will find that the banks offer better customer service than what they can offer to their customers, but this has to do with size rather than an individual's level of dedication.

The Right Merchant Account Makes a Major Difference for Smaller Businesses

Can Canadian Businesses Keep Consumers' Credit Card Data Indefinitely?

For good reason, many might ponder whether it is legal for Canadian commercial concerns to retain details of customers' credit cards.  The correct answer to this query is a resounding "yes."  Unlike many other jurisdictions, federal law in Canada permit establishments that utilize merchant services to keep consumers' individual credit card data on file for up to six years after a transaction.

There are, however, certain applicable restrictions on this rule. When maintaining such records in an electronic format via a merchant account, businesses must implement various safeguards for such sensitive information.  Online and conventional "stick-and-brick" establishments are both held to these rigorous security standards.  If you are a small entrepreneur, there are many firms that offer credit card-related legal compliance services for holds of merchant accounts.

Paperless Documentation

Every business that accepts credit card payments via computer must maintain, retain, and secure customers' credit card details.  Firms utilizing any computerized platform to process  payments must strictly adhere to various consumer financial privacy regulations.  Also, accurate computation of taxation and other business-related benefits and obligations rely upon scrupulous adherence to such standards. 

Retaining Consumer Credit Data

Many reasons exist for Canadian businesses to keep purchasers' credit card data on file for a few years:

-   Canadian businesses are legally required by the Revenue Canada to retain such information for up to seven (7) years;

-   Online purchases nearly always entail credit card use for transaction consummation.  Businesses are legally-bound to ensure that such sensitive data remains secure at all stages of its transmission, by appropriate encryption technologies;

-  If a purchaser should demand a refund, full documentation of the transaction is required for its prompt processing. The final four numerals displayed on the credit card face demonstrates the absence of any fraudulent attempt to obtain cash or its equivalent.

-   Quite often, consumers instigate refund requests many months after buying merchandise.  In such instances, proper record retention facilitates ease of access needed for a full investigation as to the underlying cause of the request.

-  If an online merchant maintain some form of automated renewal process such as is common for subscription-based service providers, prior capture of the credit card data is necessary to complete subsequent charges via the online payment processing system.

-  If a credit card purchase is ever cancelled, the ability to quickly retrieve customer credit card data permits  prompt charge reversal and refund processing.

Consumer Privacy

Sales persons and other business representatives remain under an affirmative duty to duly ascertain the accuracy of credit information. Such information should never be repeated aloud from stored database sources, however.  Individual credit card information that is written or conveyed telephonically should reference only the final four digits of the account number.  The consumer is then requested to verify this sequence, along with other personal identifiers.

Merchant Account Services for Small Canadian Businesses

Owners of smaller firms should be able to benefit substantially from retaining a reliable merchant account service provider.  If you operate a small business in Canada and want to accept credit card payments to facilitate increased sales of the services or products you offer, find a merchant accounts servicer  with an established reputation that you have rapport with.  Choosing the proper merchant services vendor from here carries a major impact on your long-term business success by reducing the headaches and hassles of alternative payment processing and record keeping methods.