Merchant Services Processing

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Google Tech Talks May, 15 2008 ABSTRACT Ken Ingham, Ph.D. will describe the architecture and motivation behind the development of Amazability, Inc.’s Adept1 product. The Adept1 performs natural language analysis and interprets spoken words and phrases or typed input. It accepts and interprets verbal commands and responds with high quality speech. The Adept1 is equipped with voice recognition and text-to-speech output that dynamically adapts multilingual spoken output to context. The Adept1 offers such applications as word processing, email, address book, web browsing, and access to an online library of thousands of books. These applications along with others have been developed from the ground up to work with speech and have a common command language throughout. They can be employed using ordinary speech or typed words and sentences. Thus the product represents a foundation for implementing practical natural language transaction processing where simple English phrases and sentences are interpreted to command a sequence of complex operations. While the Company’s founders are offering a vehicle that can be used as a full programmer’s workstation, the operating system is hidden with all applications designed to be used by person’s with minimal or no technical background. The Adept1 will be demonstrated and a roadmap for future applications will be given. This talk will be taped. Speaker: Ken Ingham, Ph.D.

It’s great to have a credit card if you know how to use one responsibly and you do so and you actually have stuff you need to buy with it. But if you don’t you can get in to so much trouble in terms of debt and stuff that it’s almost not worth it. You can get out of the debt rut, though, and without too much trouble you can find yourself back on track to the life you always wanted to live.

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Free Credit Card Processing For Business Owners!

Would you like to upgrade your company’s operations by taking advantage of free credit card processing for business owners? There has never been a better time to locate banks offering this service and make the best possible deal for your interests. Financial institutions are eager to work with you in opening a merchant account, and they sometimes offer attractive incentives to get entrepreneurs’ business. If you like the idea of free credit card processing, start shopping at your community banks and credit unions to see what type of deals they can offer.

Free credit card processing for business owners is an attractive perk, since some companies impose fees of perhaps 15 to 25 cents per transaction or a monthly percentage fee overall of between 1% and 2%. Being able to get free credit card processing for business owners could save you a significant sum of money each month, and over time, those savings could increase even more. Your customers will love the ease with which they can make online credit card payments, and you will appreciate the time-saving benefits of handling credit payments electronically rather than by employees who require regular paychecks.

It is a good idea to sit down with your financial institution and discuss the precise terms of the free credit card processing for business owners deal. Will you have to pay an application fee? Will annual membership fees come due each year? Are there other embedded costs that you should know about up front? Even if your credit card processing is free, other start-up expenses could add up to cost even more than the transactions would. You will want to make the best possible deal before signing an application or contract to be sure you don’t get trapped into paying unexpected high costs later.

Keep in mind that free credit card processing for business owners may not be the best perk to ask for when applying for a merchant account. In addition to start-up fees that could be imposed and perhaps increased in lieu of the free credit card processing option, you also may have to pay expenses like a statement fee, a minimum fee, a discount fee, and a license fee. These could add up initially to more than you will pay for transaction fees. Even if the free credit card processing option appears to save you money at first, is this a limited time offer? When reinstated later, will transaction fees be difficult to add to the company budget since you did not start the process with them?

You might want to get a second opinion on weighing the benefits offered with various merchant account deals. You could even ask the customers via an informal survey about the type of credit processing they are most interested in and then see how promotional offers for opening a merchant account may impact customer interests. Of course, you can always check out the benefits of paying no transactions costs, and if permissible, switch to another system later if costs increase more than expected with free credit card processing for business owners.

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Choosing the Right Credit Card Payment Processing Provider

Many small business owners are hesitant to accept credit cards because they are afraid all of the fees and equipment costs, but fees are not the only thing to consider when you are looking for a payment processor.

First, think about the kind of company you want to do business with. There are banks that provide services that allow you to accept credit cards, as well as independent sales organizations and, sometimes, the credit card company itself.

The advantage of working with the same bank that has your other business accounts is that it is easier for you to deal with, and there may be someone local who you can call when you have problems.

On the other hand, independent sales organizations have more experience and are sometimes more flexible in the kinds of businesses they will work with.

When you’re shopping around and learning about the different packages that payment processing companies provide, here are some things you should pay attention to:

*Reliability: Does the network have a lot of downtime? What happens when the network goes down? What kind of customer support structure do they have in place? Is there someone you can call 24/7?

*Products: What different kinds of payment processing products are available? Can they help you choose what’s right for you?

*Extras: Does this system also process electronic gift cards, electronic checks or other methods of payment?

The biggest factor that most people use to choose the merchant account company they want to go with, however, is the price. There are many different fees associated with accepting credit cards, including an application fee, the discount rate (a percentage of each sale), transaction fees and fees for sales made over the Internet or the phone.

There are also fees for statements, for not meeting a minimum amount of sales and for any returns or refunds you process.

Look carefully at all the different kinds of fees each company collects and what the rate is. If you’re expecting people to make a lot of small purchases with credit cards at your business, you might look for the company with the lowest transaction fee. If on the other hand your credit card payments will be high, you might be more interested in a lower discount rate. It all depends on what your priorities are.

A final thing you’ll want to consider when choosing a payment processing system is what if any costs you will incur from renting or buying equipment. Some companies offer free equipment for credit card processing, which can be a big positive that cuts down on your up-front costs

Choosing the Right Credit Card Payment Processing Provider

Many small business owners are hesitant to accept credit cards because they are afraid all of the fees and equipment costs, but fees are not the only thing to consider when you are looking for a payment processor.

First, think about the kind of company you want to do business with. There are banks that provide services that allow you to accept credit cards, as well as independent sales organizations and, sometimes, the credit card company itself.

The advantage of working with the same bank that has your other business accounts is that it is easier for you to deal with, and there may be someone local who you can call when you have problems.

On the other hand, independent sales organizations have more experience and are sometimes more flexible in the kinds of businesses they will work with.

When you’re shopping around and learning about the different packages that payment processing companies provide, here are some things you should pay attention to:

*Reliability: Does the network have a lot of downtime? What happens when the network goes down? What kind of customer support structure do they have in place? Is there someone you can call 24/7?

*Products: What different kinds of payment processing products are available? Can they help you choose what’s right for you?

*Extras: Does this system also process electronic gift cards, electronic checks or other methods of payment?

The biggest factor that most people use to choose the merchant account company they want to go with, however, is the price. There are many different fees associated with accepting credit cards, including an application fee, the discount rate (a percentage of each sale), transaction fees and fees for sales made over the Internet or the phone.

There are also fees for statements, for not meeting a minimum amount of sales and for any returns or refunds you process.

Look carefully at all the different kinds of fees each company collects and what the rate is. If you’re expecting people to make a lot of small purchases with credit cards at your business, you might look for the company with the lowest transaction fee. If on the other hand your credit card payments will be high, you might be more interested in a lower discount rate. It all depends on what your priorities are.

A final thing you’ll want to consider when choosing a payment processing system is what if any costs you will incur from renting or buying equipment. Some companies offer free equipment for credit card processing, which can be a big positive that cuts down on your up-front costs

Best Tips to Avoid Frozen Accounts With your High Risk Merchant Account Provider

In the world of online sales, there are a lot of things written on the page but are left unread between the lines. In other words, you go about selling your products and services but there are lots of things high risk merchant account providers don’t tell you. Not because they could not or would not, but because they would not discuss the issues with you until you have experienced them. A good example is going through possible freezing of your merchant account.

If, as a high risk merchant, you have not exerted an effort to make a research concerning frozen accounts, then you’re in BIG trouble. I’ll keep it short. Once your merchant account is frozen, your present and future business is put under horrible risk. First, because you will lose the ability to process credit cards online. Second, you will be denied merchant account if you applied for another one. You certainly cannot allow this to happen and it will never if you are smart enough to take preventive measures.

VOLUME LIMIT EXCESS

Okay, so what gives? You would think if you made a mistake in stating your processing limits or average ticket size, there is an easy way to get out of the mess. But underwriters and high risk merchant account providers are realistic. If you make more profit than you have actually stated during the assessment period, you will be likely incurring more chargebacks. When this happens, your underwriter is liable to pay the issuing bank the losses. Obviously, the little mistake you made spelled trouble to your provider.

How do you prevent this? Find a high risk merchant account provider that is flexible with your monthly processing volume limit. This means that as soon as your ticket size grows, you can negotiate an adjustment on the discount rate and other fees.

NICHE PRODUCT/SERVICE FLEXIBILITY

Another issue that will most likely cause you trouble with your merchant account provider is your niche product or service. This is pretty easy to figure out and it’s lot like choosing a domain name. Define your product or service in the broadest way possible. Pick pharmaceuticals instead of hoodia. That way if you expand your catalog or change into a different but related product/service in the industry, then it will be easier for the provider to adjust.

REFUNDS

This issue will speak for itself. Is giving refunds to your customers a bad practice? Sure it may hurt your business, but a business also has to maintain a good reputation. One way to keep it is to make sure dissatisfied customers are able to return your products and get their money back, if only because you would want them to buy again and not spread ill words about your company. Above all, you do not want them to commit fraud against your business.

BACKUP ACCOUNT

Two merchant accounts? To some business owners, having one alone can be a pain especially with high discount rates. But there’s also an advantage in obtaining a back up merchant account. There is if your business relies solely in processing credit cards online! If one provider halts processing or encounters a glitch, you have support that will not put inconvenience to your business or customers. Having a backup merchant account is quite tricky but it always serves its purpose.

Frozen merchant accounts are horrible for your business. Now is the time you find out the issues with your high risk merchant account provider before your business goes down the drain!

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There are businesses that require payment through credit card and in fact, some would prefer in this payment method. Aside from being a good business solution to increase sales, this also helps business owners to protect their interest. How? First of all, using this kind of mode is simple distinguishing fraud. This gives security to your merchandise and services by having a guaranteed payment. There are a lot of possibilities that fraud can be committed when not using a credit card. This could include issuing of fake money or bouncing check. While on the credit card you will be able to verify if the account is active and the person using it is authorized.