EVALUATING ECIG CREDIT CARD PROCESSING
COMPANIES
A firm whose primary business is to
process credit cards aids you to accept
credit card payments from your consumer
for the various services and products
you have to offer. This also facilitates
major business houses to help their
consumers or clients accept payments for
the products or services they have
purchased with the help of credit cards.
Almost all the credit card processing
firms are local banks that have the bank
account of the traders. Processing firms
can also be trade associations and third
party processors. Payments made by using
credit cards are a secure and safe mode
of making payments. These processing
firms help traders in setting up
accounts and also send reports about all
the transactions that have occurred
between a consumer and the trader’s
firm. For getting a merchant account,
your business and its credentials will
be closely examined.
The credit card processing firms will
also check your credit history from
reliable sources such as banks. Rates
will also be calculated after having a
look at the company’s business standing,
turnover and revenues.
Firms that are not well established will
have to shell out higher rates when
compared to those firms that are
well-established. But, if the company’s
financial and payment track record are
good, then such companies can negotiate
to get better rates for their merchant
account.
Evaluating a business is not an easy
task and could be very frustrating
because there is a possibility that a
firm faces financial losses after the
permission for opening a merchant
account is granted. High risk businesses
and start-up firms have slim chances of
getting their merchant account
applications approved. This is because
banks and other processing firms do not
want to take the risk of providing
accounts to such firms. If this is the
case, your only option is to select one
among the several “third party credit
card processing” firms.
After this, issues associated with
security will crop up. Credit card
frauds are rampant these days and
measures have to be taken to keep this
menace at bay. Keeping such issues in
mind, it is essential for you to choose
a good and competitive credit card
processing firm. If not, there is a
possibility that you will lose out on
costumers.
There are a few points that you need to
keep in mind while evaluating credit
card processing firms. Evaluating credit
card firms has to be base on the
following –
-
The total number of modes of payment
offered by a firm such as e-checks,
regular checks, credit cards and debit
cards.
-
The credit card processing firm must
allow processing of online transactions.
-
Protection and high security from fraud
has to be provided for each and every
transaction that takes place with the
hep of technologies such as AVS or
“address verification Service” as well
as “Verisign SSl Certification”.
-
The firm should offer 24/7 consumer
service.
-
Payment gateway and set up charges
should be reasonable.
-
Reasonable fee structure should be
offered along with a number of benefits.
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. |