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FOREX Credit Card Software - Better services using Integrated Payment Processing

Generally the merchants in several types of markets like auto repair shops, veterinary clinics, medical offices and retail stores, among others accept electronic payments using a terminal device. These devises have a modem, Led Display and a magnetic strip reader. These terminals transmit credit card details such as name and number to the banking computers that verify the authenticity of the information and check the available balance to return either a decline or an approval. If the transaction gets approved, then the credit balance on the card will decrease, the bank account of the merchant will be credited and the holder of the credit card will be billed an amount equivalent to the transaction amount.

Though, this e - payments are very beneficial to the consumers and the merchants, they don’t come free. In fact, they cost a lot for the merchant and will cost much more for the card holder if he is not careful. The merchants will be charged on a per transaction basis and also the fixed basis for this convenience. Hard costs are fees, fraud, supplies, phone lines and equipment purchases, among others. Soft costs are customer satisfaction rates, payment errors, regulatory compliance and training.

By introducing other modes of e – payments these costs have only increased many times. New tools and training is required for accepting debit cards, issue or redeem gift cards and also, perform check guarantee services. The confusion caused due to different interfaces and hardware mostly results in low merchant efficiency resulting in customer dissatisfaction.

Fortunately, today all these different devices can be replaced by the e – payment processing software. It has a single interface that is highly streamlined and gives the business owner a very user friendly screen which is used for all the various types of transaction that you want to perform. Training is a lot more efficient because the employee’s will not have to study different interfaces for different cards. The customer satisfaction level will be much higher because the average waiting times would have been reduced as the equipment communicates much faster thereby taking lesser time for each transaction. E – Payment processing software’s bypass the conventional phone lines and communicate over the internet connections that are much faster. This will result in transactions being approved instantly versus the old system where each transaction took about 20 to 30 seconds to authorize.

The most recent development in the e – payment processing system is its ability to interact with vertical applications. This new feature will allow the merchant to focus his training efforts only for the core of the application. Payments are just a small part of the system. This leads to faster and efficient check outs resulting in much higher customer satisfaction levels. Instead of getting 2 receipts, you will get only one invoice which has both the payment and the transaction information. Any errors are eliminated and therefore the costs are reduced for the merchants. Also dedicated equipment is no longer necessary. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.