A credit card terminal is a tool used by a merchant to input a consumer's credit card information and receive authorization. If a merchant accepts a credit card that has been stolen or processes a transaction when the consumer has insufficient funds or an invalid account, they are at a lose. Therefor, credit card terminals act as a source of protection to the merchants who use them, by accepting credit cards in a way that better ensures payment.
Merchants in physical stores almost always use a credit card terminal that appears as a small machine with a keypad and a sliding slot. The card is swiped through the slot, which reads credit cards numbers from a magnetic strip. They accept debit cards in this same manner, allowing the consumer to enter their pin number for verification. However, as ecommerce grows rapidly in our world, new types of credit card terminals have developed.
In web-based credit card machines, no card swiping takes place. Instead, card numbers are entered at the point of check out and authorization is almost instantaneous. Credit card numbers and other sensitive data is encrypted as it travels through a payment gateway for authorization purposes. Additionally, many web-based credit card terminals require vin numbers, the 3-4 digit security code on the back of the card, or address verification. These measures are used to fight against the growing crime of identity theft.
Virtual terminals are another type of credit card processing machine used in ecommerce. They allow you to manually process a credit card over the internet. Phone, mail, or fax orders that are received by online merchants can be processed this way. They are beneficial for completing transactions in which the consumer requires assistance.
Monday, March 29, 2010
Monday, March 22, 2010
BigCommerce Shopping Carts
Best Merchant Accounts has recently found what is possibly the best shopping cart software around. This shopping cart software is from BigCommerce. Immediately when we saw all the features of the BigCommerce we knew that we had to try them out. We looked around for BigCommerce reviews and found that people rated them highly and had no complaints about them.
In today’s Best Merchant Accounts review, we are going to briefly discuss the five BigCommerce shopping cart programs. All five of them have the same core features and differ in the amount of products, staff logins, bandwidth, and storage. Here are the core components of the BigCommerce shopping cart programs.
In today’s Best Merchant Accounts review, we are going to briefly discuss the five BigCommerce shopping cart programs. All five of them have the same core features and differ in the amount of products, staff logins, bandwidth, and storage. Here are the core components of the BigCommerce shopping cart programs.
- Free web hosting
- Free support
- Unlimited email accounts
- Over 60 shopping cart templates
- WYSIWYG editor
- Dreamweaver compatible
- Drag and drop themes
- SEO friendly
- Single page checkout
- Shipping quotes
- Multiple items in cart
- Inventory reports
- Tax calculation
- Cross selling and up selling
- Ability to offer coupons and gift certificates
- Accept multiple currencies
- Supports over 50 of the best payment gateways
- UPS, FedEx, USPS shipping
- Accept credit cards
- Sales and business reports
- Affiliate tracking software support
- BigCommerce Bronze- 100 products, 3 logins, 2 GB data transfer, 200 MB storage. $24.95 a month.
- BigCommerce Silver- 500 products, 10 logins, 3 GB data transfer, 300 MB storage. $39.95 a month.
- BigCommerce Gold- 1000 products, 20 logins, 5 GB data transfer, 500 MB storage. $79.95 a month.
- BigCommerce Platinum- Unlimited products, 50 logins, 15 GB data transfer, 1 GB storage. $149.95 a month.
- BigCommerce Diamond- Unlimited products, 100 logins, 30 GB data transfer, 3 GB storage. $24.95 a month.
Friday, March 12, 2010
Accepting MasterCard
Online merchants everywhere understand that accepting credit cards as a form of payment will increase your sales. MasterCard is one of the leading names in the credit card industry. They provide merchant solutions and transaction processing to numerous financial institutions who issue cards with their logo. With catchy advertisements and beneficial intensive programs they attract and maintain a large number of cardholders who tend to be very loyal to the MasterCard company. When you accept MasterCard you can assist your online business with growth. It will encourage consumers to complete transactions by providing them with what might be their preferred method of payment.
As the use of cash and checks decline, the MasterCard company continues to grow. There are more than 25,000 plus financial institutions that issue its card. A large number of these institutions offer incentive programs to the consumers that make MasterCard their preferred method of payment. Everything from extended warranties and auto rental insurance, to cash back bonuses and free golf equipment are being offered to entice new cardholders and encourage use of the MasterCard. Within the United states alone, there are over 211 million MasterCards in circulation.
Upon signing up with your merchant account provider to accept MasterCard, you will also be able to accept debit and gift cards with the MasterCard logo. Plus, because MasterCard is issued internationally, its acceptance can help advance commerce on a global level. Overall, the main benefit of accepting MasterCard will be more business to your ecommerce website.
As the use of cash and checks decline, the MasterCard company continues to grow. There are more than 25,000 plus financial institutions that issue its card. A large number of these institutions offer incentive programs to the consumers that make MasterCard their preferred method of payment. Everything from extended warranties and auto rental insurance, to cash back bonuses and free golf equipment are being offered to entice new cardholders and encourage use of the MasterCard. Within the United states alone, there are over 211 million MasterCards in circulation.
Upon signing up with your merchant account provider to accept MasterCard, you will also be able to accept debit and gift cards with the MasterCard logo. Plus, because MasterCard is issued internationally, its acceptance can help advance commerce on a global level. Overall, the main benefit of accepting MasterCard will be more business to your ecommerce website.
Saturday, March 6, 2010
Accepting Discover
We all know how important it is to accept credit cards if you are running a brick and mortar store or an eCommerce website that sells products. More and more consumers are becoming Discover card holders. Discover is a major credit card that was first introduced by Sears Roebuck and Company back in 1985. However, today it stands independently and is unique because its cards are not issued through a variety of different financial institutions like those of Visa or MasterCard. With cash back intensive programs and clever advertising, Discover seems to be rapidly growing in popularity. Although at present, the fact remains that it is primarily a United States company and the general credit market shows that the Discover card share based on purchase volume was only 4.75% for 2008, significantly lower than that of other major credit card companies.
With more than 3 million merchants in the United States accepting Discover Card, people are being given an additional payment option for their convenience. Most merchants are pleased with the competitive rates that Discover offers and acknowledge the fact that accepting the card may increase the amount of business they obtain. More than 50 million people currently possess an active Discover account. When combining the total of both their point of sale and ATM transactions, Discover's sales volume equals over 3 billion a year.
If your company is not presently accepting Discover card as a form of payment, talk to your merchant account provider. Many Discover card holders are loyal to the Discover company in order to gain the maximum rewards for using their credit lines. Also, many Discover card holders favor the Discover company because of the customer support and security that is offered to them. Therefore, companies who don't offer Discover as an option for payment may be losing money to their competitors.
With more than 3 million merchants in the United States accepting Discover Card, people are being given an additional payment option for their convenience. Most merchants are pleased with the competitive rates that Discover offers and acknowledge the fact that accepting the card may increase the amount of business they obtain. More than 50 million people currently possess an active Discover account. When combining the total of both their point of sale and ATM transactions, Discover's sales volume equals over 3 billion a year.
If your company is not presently accepting Discover card as a form of payment, talk to your merchant account provider. Many Discover card holders are loyal to the Discover company in order to gain the maximum rewards for using their credit lines. Also, many Discover card holders favor the Discover company because of the customer support and security that is offered to them. Therefore, companies who don't offer Discover as an option for payment may be losing money to their competitors.
Tuesday, March 2, 2010
Best Shopping Cart Programs
Ecommerce shopping cart programs all function to provide the catalog and operating system for your business. However, choosing the best one for your website can be a challenge. While some shopping cart programs can be pricey, others are open source, or also known as free shopping cart programs. Not all shopping carts operate in the same programming language. Plus, they tend to vary greatly in the types of features they offer. The best shopping carts are the ones that meet the specific needs of your business.
If you have never operated a shopping cart program before, you should know that they vary in terms of being user friendly. Some require more extensive programming experience, while others can be used by almost anyone with some time. Be sure to pick one that works best for your programming skill level. Other features found in the best shopping cart programs are marketing tools. Marketing tools help you reach out to potential customers by increasing your traffic and influencing people to buy from you. Good shopping carts have the ability to send bulk emails, generate mailing lists, cross sell, accept gift cards, and produce ads. The success of your online business could be in the hands of your shopping cart's marketing features.
The best shopping cart for your business is one that is able to integrate with your check out system, merchant account, payment gateway, and shipping program. Remember that the shopping cart software is intended to make your job easier, not create problems. One additional thing to consider when shopping for the best shopping cart program is technical support. Some programs offer free or paid support, while others do not provide any formal assistance and are sustained by a community. Before selecting any shopping cart program, review the needs of your business and do your research.
If you have never operated a shopping cart program before, you should know that they vary in terms of being user friendly. Some require more extensive programming experience, while others can be used by almost anyone with some time. Be sure to pick one that works best for your programming skill level. Other features found in the best shopping cart programs are marketing tools. Marketing tools help you reach out to potential customers by increasing your traffic and influencing people to buy from you. Good shopping carts have the ability to send bulk emails, generate mailing lists, cross sell, accept gift cards, and produce ads. The success of your online business could be in the hands of your shopping cart's marketing features.
The best shopping cart for your business is one that is able to integrate with your check out system, merchant account, payment gateway, and shipping program. Remember that the shopping cart software is intended to make your job easier, not create problems. One additional thing to consider when shopping for the best shopping cart program is technical support. Some programs offer free or paid support, while others do not provide any formal assistance and are sustained by a community. Before selecting any shopping cart program, review the needs of your business and do your research.
Monday, March 1, 2010
Accepting American Express
American Express is accepted all over the world, in more and more locations everyday. With their catchy advertisements and customer intensive programs that include cash back bonus rewards, they produce loyal card holders who like to be able to use those accounts. In fact, American Express card holders are believed to spend more on average than those of Visa, Discover, or MasterCard. In some recent surveys, 74% of American Express card holders stated that American Express is their preferred card of choice.
Most merchants are aware that American Express traditionally charges higher fees than other credit card companies. However, there is some validity behind the claim that American Express card holders spend more. This might make the higher fees well worth it for most businesses. According to data provided by The Nilson Report in 2003, the average American Express card annual charges were $9,600, while Visa's were less than half that amount at $3700, and MasterCard's were only $1,900. Plus, with American Express card holders being so loyal to the American Express company for the benefits and services associated with their credit lines, accepting American Express can add value to your business. If you don't give your customers the option of using their card, they may shop with one of your competitors who will.
A 2007 survey suggests that 59% of consumers would choose a merchant who accepts credit cards, especially with American Express over one who does not. On the other hand, most merchants would agree that if all of their customers used American Express, the high fees would cut into their bottom lines. However, if you are interested in providing American Express as a payment option to increase your overall sales and provide more payment options to your customers, contact your merchant account for additional details.
Most merchants are aware that American Express traditionally charges higher fees than other credit card companies. However, there is some validity behind the claim that American Express card holders spend more. This might make the higher fees well worth it for most businesses. According to data provided by The Nilson Report in 2003, the average American Express card annual charges were $9,600, while Visa's were less than half that amount at $3700, and MasterCard's were only $1,900. Plus, with American Express card holders being so loyal to the American Express company for the benefits and services associated with their credit lines, accepting American Express can add value to your business. If you don't give your customers the option of using their card, they may shop with one of your competitors who will.
A 2007 survey suggests that 59% of consumers would choose a merchant who accepts credit cards, especially with American Express over one who does not. On the other hand, most merchants would agree that if all of their customers used American Express, the high fees would cut into their bottom lines. However, if you are interested in providing American Express as a payment option to increase your overall sales and provide more payment options to your customers, contact your merchant account for additional details.
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