Merchant Accounts are extremely helpful for the businesses and proves to be beneficial in various ways. But these advantages do not come for free, because every service come for a price.
You are required to pay a certain amount of credit card processing fees and authorization fees.
Keeping a merchant account going does require certain credit card processing fees and one of them is the Authorization Fee. When a transaction is relayed to the card-issuing bank, this fee will be charged to the merchant even if the request has been denied.
Authorization fee is sometimes confused with Transaction Free which is completely different. However, both Authorization and Transaction Fees are collected by the merchant service provider, not the bank, and handed over to the merchant.
Another kind of fee included in the monthly statements is the Statement Fee that the merchant pays on a monthly basis. Few service providers oblige their clients to charge certain fees based on the transactions made. In case if merchant is unable to meet this requirement, he will be required to settle the amount that has not been collected in order for him to reach the monthly minimum.
Friday, October 23, 2009
Wednesday, October 14, 2009
Affinity Cards - Show You Care!!
Affinity cards offers a golden opportunity to the users by presenting their brighter and positive side in front of others. These card assists you in helping others in a very easy manner. The affinity cards support all kinds of good causes. Most of its features are similar to that of the general cards. But there are few differences in the two like;
The affinity cards are co issued or sponsored by another brand also, whose logo appears on the card, along with the logo of a charity. When card holders make purchases using their affinity cards, the card company donates a percentage to the partner charity. The cardholder gets cash back, rewards or other benefits related to the sponsoring organization when using it. The bank would pay the sponsoring organization part of the profits whenever the cardholder uses the card.
Before you apply for an affinity card, you should be aware that they usually come with higher rates and fewer perks as compared to other cards. Just like other cards, do read the fine prints in your agreements in order to avoid any ambiguity. Some of the most popular affinity card causes include child welfare, animal welfare, crime, public education, and environmental causes.
The donations you made are not of tax deductible nature, as they are made as a part of a contractual obligation. But it feels good to help the needy person, which is why affinity cards are still hugely popular despite their less-than-stellar terms and conditions.
Browse through http://www.paynetsystems.com to get more information about Credit Card Processing and How to Accept Credit Cards.
The affinity cards are co issued or sponsored by another brand also, whose logo appears on the card, along with the logo of a charity. When card holders make purchases using their affinity cards, the card company donates a percentage to the partner charity. The cardholder gets cash back, rewards or other benefits related to the sponsoring organization when using it. The bank would pay the sponsoring organization part of the profits whenever the cardholder uses the card.
Before you apply for an affinity card, you should be aware that they usually come with higher rates and fewer perks as compared to other cards. Just like other cards, do read the fine prints in your agreements in order to avoid any ambiguity. Some of the most popular affinity card causes include child welfare, animal welfare, crime, public education, and environmental causes.
The donations you made are not of tax deductible nature, as they are made as a part of a contractual obligation. But it feels good to help the needy person, which is why affinity cards are still hugely popular despite their less-than-stellar terms and conditions.
Browse through http://www.paynetsystems.com to get more information about Credit Card Processing and How to Accept Credit Cards.
Monday, October 5, 2009
How to Ensure the Safety of Your Credit Card?
Every credit card comes with a note of signing the back immediately after receiving it or before using it. The three major credit card companies - Visa, Master Card and American Express,- requests the users to sign their credit card immediately. In fact, all of them have rules that prohibit merchants from accepting credit cards that don’t have a valid signature. Visa states that a merchant may not complete a transaction until the card is signed.
It sounds like good advice, but in case, if someone steals your card, he will get the perfect copy of your signature to use in any manner, he wants to. Experts are of the view, that instead of signing it, write ‘Ask for Photo I.D’ in the space. But as per the strict rules and direction of the credit card companies, you can not escape from signing your credit card. Instead you should follow some security measures to ensure the safety of your card :
1. Avoid revealing your credit card number to someone on the telephone. If the caller pretends to be calling on behalf of the company, than you can direct him that you will call yourself on the company number. This way you will get to know the real identity of that person.
2. Same things apply to the emails you receive in your inbox. You can type the URL of the company in a new browser to crosscheck the validity of that particular URL.
3. Always adopt the practice of reconciling the credit card bills every month. You can report the company in case you find any charges that are not incurred by you, or are nor recognizable.
4. Make sure to register all the information related to your credit cards. Note down the credit card number, expiry date, telephone numbers etc. and keep it in a safe place. In case your credit card get stolen, you will still have the information in case if you are reporting your credit card theft.
It sounds like good advice, but in case, if someone steals your card, he will get the perfect copy of your signature to use in any manner, he wants to. Experts are of the view, that instead of signing it, write ‘Ask for Photo I.D’ in the space. But as per the strict rules and direction of the credit card companies, you can not escape from signing your credit card. Instead you should follow some security measures to ensure the safety of your card :
1. Avoid revealing your credit card number to someone on the telephone. If the caller pretends to be calling on behalf of the company, than you can direct him that you will call yourself on the company number. This way you will get to know the real identity of that person.
2. Same things apply to the emails you receive in your inbox. You can type the URL of the company in a new browser to crosscheck the validity of that particular URL.
3. Always adopt the practice of reconciling the credit card bills every month. You can report the company in case you find any charges that are not incurred by you, or are nor recognizable.
4. Make sure to register all the information related to your credit cards. Note down the credit card number, expiry date, telephone numbers etc. and keep it in a safe place. In case your credit card get stolen, you will still have the information in case if you are reporting your credit card theft.
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