| What if you could implement one strategy today | | | | card issuer for verification. Along the way, |
| that could significantly increase profits as well as | | | | additional security validation measures may be |
| grow your customer base in just a few short | | | | employed, such as in the case of AVS, or |
| weeks? You can. By opening a merchant account | | | | address verification system, where the |
| and accepting credit cards from your customers, | | | | consumer's address is validated during online |
| your bottom line and your customer base can | | | | transactions. Once the card has been validated, a |
| grow to new heights - and at record speed. | | | | transaction code is issued and the sale is |
| Thanks to advances in today's technology, credit | | | | approved at the merchant's end. A receipt is |
| cards can be processed more quickly, more | | | | printed, and the merchant and customer are |
| efficiently, and more securely than ever before, | | | | finished. |
| meaning your business can begin reaping the | | | | But the merchant account's job is only partly |
| benefits of a new merchant account in less than a | | | | done. Once the transaction is approved and a |
| month. | | | | transaction ID number is assigned, the amount of |
| Today's merchant accounts allow businesses to | | | | the sale is automatically debited form the credit |
| compete more effectively and more profitably no | | | | card account. The merchant account assesses |
| matter where they prefer to do business - in a | | | | any transactional fees and deducts them from |
| retail brick and mortar storefront, online, by mail | | | | the total before finally transferring the amount to |
| or phone, or even on the road, thanks to today's | | | | the business' bank account. |
| new mobile technology and wireless Internet | | | | All of the aspects of the transaction - including |
| connections. | | | | date and time, amount, and the unique transaction |
| New software and other enhancements in credit | | | | ID number - are recorded so that they can be |
| card validation and processing have resulted in a | | | | retrieved when records are printed in the future. |
| lower incidence of fraud, which means you can sell | | | | There are a few differences with online |
| and your customers can shop with complete | | | | transactions. In these transactions, credit card |
| confidence. And, thanks to higher speed Internet | | | | sales are either processed "instantly" as described |
| connections and other advances in technology, | | | | above, in a system called a real-time processing |
| credit card processing is speedier and more | | | | system; or processing may be delayed until later |
| budget-friendly than ever. | | | | in the day. |
| From both the business and the customer | | | | In these systems, called delayed processing |
| perspectives, credit card transactions are simple: | | | | systems, credit card information is stored and |
| simply swipe the card through a retail or mobile | | | | then later retrieved by the business owner, who |
| terminal, or enter the credit card and billing | | | | must enter the information into a computer or |
| information online or through a virtual terminal, and | | | | other terminal for processing by the credit card |
| the merchant account does the rest, sending the | | | | issuer. These accounts are less expensive than |
| card information to the credit card issuer where it | | | | real-time systems, and are often favored by |
| is validated and verified, and then transferring the | | | | businesses that are just starting out, when sales |
| sales proceeds to the business bank account | | | | volumes are relatively low. |
| automatically - all in a seamless process that | | | | Delayed processing systems are also used by mail |
| seems to take only seconds. | | | | order and telephone order companies, when credit |
| But while the transaction appears simple from the | | | | card information is given over the phone or |
| outsider's point of view, in fact, your merchant | | | | collected from order forms and then entered |
| account is working hard, ensuring the transaction | | | | manually into a terminal or computer keyboard |
| is processed correctly and helping avoid fraud that | | | | for processing. |
| could be costly to your business. | | | | Mobile merchant accounts are also becoming |
| Here's a quick rundown of the steps actually | | | | increasingly popular, thanks to advances in today's |
| involved in processing credit cards through a | | | | technology. These accounts allow businesses and |
| merchant account provider: | | | | sales people to process credit card transactions |
| Credit card information is entered into the | | | | on the road, or from conventions, trade shows |
| terminal, either through a swipe terminal - also | | | | and fairs, using a laptop keyboard and a wireless |
| called a point of sale or POS terminal - at a retail | | | | Internet connection, or a cell phone or other |
| store; through a computer keyboard that serves | | | | mobile device. |
| as a virtual terminal for mail order and telephone | | | | Your merchant account provider is dedicated to |
| sales, and some remote or mobile processing; or | | | | staying current with today's evolving technology, |
| through your online web store's virtual shopping | | | | and can provide you with all the tools you need to |
| cart. | | | | make your business more profitable than ever |
| Once the information has been entered or | | | | before. Explore your options today. |
| retrieved by a swipe terminal, it is sent to the | | | | |