By foregoing a landline and going wireless for credit card processing, your transaction horizon is limitless. Wireless allows you to accept credit cards anywhere and everywhere you do business — at trade shows and sporting events, community and school functions, outdoor markets and craft fairs, food trucks and kiosks, even your customers’ homes. Just think of the possibilities and how they apply to your business!

Let’s say you’re a service provider with a mobile workforce that spends all of its time on the road making calls at customers’ homes or places of business. In the days prior to wireless credit card processing, payment options for your customers consisted of cash or check. Or, if you accepted credit cards, you probably equipped your workers with flatbed card imprinters affectionately known as “knucklebusters” for the damage they were known to inflict on users. More often than not, you may have just billed your customers once services were rendered, waited for their check and then waited some more for it to clear (hoping it didn’t bounce!).

Wireless credit card processing has done away with all that, enabling you to accept payment cards at the point of sale, wherever it may be. Wireless terminals are lightweight, compact and portable, so they won’t slow down you or your workers while in pursuit of a sale.

With wireless processing, you get the same access to credit card authorization networks and qualify for the same lower, card-present processing rates that you receive in a brick-and-mortar retail business without the inconvenience of being tied down to a countertop terminal. With the addition of Transaction Express™, Merchant Account’s web-based payment processing platform, you can go 100 percent mobile. Gone are the days when connectivity issues kept you from making the sale!

If you already run a retail or service operation, you know that consumers like the convenience and freedom that paying with plastic offers. People may not carry much cash or be able to find their checkbook, but they can whip out their credit card at a moment’s notice!

Wireless credit card processing plays directly into their preference, helping to boost your sales by giving you access to new customers. Expanding beyond cash-or-check sales by accepting credit cards with wireless credit card processing means additional potential income for your business.

Merchant Account keeps up with the most tech-forward advances in the credit card processing field, whether they be wireless, mobile, Internet-based or traditional POS. Talk to one of our representatives today to sort out your options and choose the best solution for your specific requirements.

Since a virtual merchant relies on an Internet connection to function, processing is faster than processing done over a phoneline. Whether the transaction originates at a countertop credit card terminal, a website’s virtual terminal, laptop, smartphone or mobile device, a payment gateway maintains a secure environment by encrypting sensitive cardholder and account information.

When the transaction is initiated, payment data is transmitted from the merchant to the credit card processor (also called a merchant services provider). The processor forwards the information to the bank that issued the credit or debit card for authorization. The bank either approves or declines the transaction, depending on the cardholder’s available credit, and sends back a response code. If declined, the transaction is cancelled. If approved, the transaction is completed and a receipt is issued to the customer. From start to finish, the process takes just seconds.

Transferring funds to settle the transaction takes a little longer. Typically, merchants submit all their payment card transactions to their processor in one batch at the end of the business day. The processor acts as a middleman between the merchant, issuing banks and credit card networks. The bank releases the hold it put on the cardholder’s available funds and sends them to the processor, who deposits them into the merchant’s designated bank account. This part of the process is usually wrapped up in two or three days.

Besides efficiently and reliably processing major credit cards and signature debit cards, Transaction Express delivers a virtual merchant platform via any device with Internet access, real-time transaction processing, direct swipe via USB with no additional software needed, multi-merchant/multi-user capabilities, customizable reporting, advance report search, tokenization for automatic and manual recurring payments and batch processing.

Take control of your business’s payment acceptance with Transaction Express, which gives you direct access wherever you are and no matter how you access the Internet — desktop, laptop, smartphone or tablet. This virtual merchant supports traditional retailers, e-tailers, MOTO (mail order/telephone order), membership clubs, non-profits and governmental clients. Let Merchant Account deliver a flexible, reliable way to accept credit cards directly to you with Transaction Express!

The study, published in late 2011, notes that the Payment Card Industry Data Security Standard (PCI DSS) advises merchants to protect cardholder data through various secure methods. Unfortunately, many merchants are unaware that they’re storing this sensitive data.

“There are many places cardholder data may be stored on a network: POS software, back-end payment application servers, web servers, attached storage devices, customer service work stations, etc.,” the report notes. “Understanding where all payment card data touch points occur at a business allows merchants to have tighter control and less unknown storage.”

One way to accomplish this is to work closely with a merchant services provider who takes PCI compliance seriously. Merchant Account® collaborates with all its clients to ensure that they reach and maintain compliance. We also offer a data breach security program that helps meet the potentially crippling financial losses associated with a breach, should one occur.

A data breach is not limited to a one-time occurrence. Once criminals have hacked into a merchant’s system, they leverage that access for all it’s worth. Worldwide, that amounts to billions of dollars fraud losses annually.

When hackers discover unencrypted credit card data, they install malware that feeds that information to them in a variety of ways, including email, file transfer protocol (FTP) or through a web browser. Once it’s in hand, the criminal needs only to decide whether to sell the data or produce fake credit cards.

“Scanning for unencrypted data is not a substitute for comprehensive merchant data security, but it is a simple way to place merchants on the path to reduce risk and liability,” the report concludes, adding, “Criminals cannot steal data that is not available to them.”

Merchant Account representatives can answer all your questions about secure management of credit card data and the many credit card processing solutions that are now available and sure to meet your business and budget requirements.

The credit card associations all offer their cardholders the right to dispute transactions, and the issuers themselves can dispute a transaction. Chargebacks can be initiated for a variety of reasons, including credit card fraud, processing or authorization errors and a product or service that is defective, not as described or not received by the cardholder. A cardholder may also claim a chargeback when they cancel a service or return merchandise and do not receive credit from the merchant. Issuers may launch a chargeback to help settle a cardholder dispute.

Credit card fraud is one of the most common reasons for a chargeback, so it’s crucial for merchants to know how to reduce that risk. The approach depends on the type of transaction involved: card present or card not present.

Card-not-present (CNP) transactions are simply that: neither the card nor the cardholder is physically present at the point of sale. This is the typical scenario for Internet and MOTO (mail order/telephone order) sales. The risk of fraud is higher in a CNP transaction than in a card present transaction.

To make sure that a CNP transaction is valid, merchants should use AVS, an address verification service that confirms that the address provided by the customer is the same as the one on file with the credit card issuer. Additionally, merchants should ask for and confirm the security code printed on the back of the card, which is known as CVV, CVC or CID, depending on the card brand.

In card-present transactions, merchants are required to both swipe the card through a cardreader and obtain the cardholder’s signature on the sales draft. If the merchant is using a credit card imprinter instead of a terminal, their identifying information should be imprinted on the receipt. Merchants may ask for additional ID to confirm the cardholder’s identity, but cannot make it a condition of the sale.

To avoid processing and authorization errors that could precipitate a chargeback, complete only transactions with a valid authorization code and do not resubmit a declined transaction in the hopes of receiving an approval. Instead, ask the customer for another form of payment. Also, take care not to settle the same transaction twice. If an error occurs, void the incorrect transaction. It’s also advisable to settle transactions on a daily basis and not store data in the terminal.

For more information about chargebacks, contact your credit card processing representative. We don’t like chargebacks any more than you do, and together we can work towards reducing them.

Merchant Account® can help you get started with some basic information and advice:

First, you need a merchant account to accept credit cards, preferably from a reputable merchant services provider like us! Our application process is comprehensive, yet easy to complete when you have all the necessary information at the ready. It includes your company name, address, phone, fax and website; the principle owner’s name and Social Security number; type of ownership; business licenses, if required; federal tax identification number (TIN); recent tax returns; bank account number; average monthly credit card transactions and sales volume (actual numbers if you’re already accepting, estimates if not). Once you’ve completed our application, you could be approved to accept credit cards in as little as 24 hours.

Before you can swipe the first card, however, you need the hardware and software that’s best suited to meet your credit card processing requirements. For example, if you operate a traditional point-of-sale retail business, a countertop credit card terminal with a phoneline or Internet connection to Merchant Account can handle all your face-to-face transactions. Restaurateurs, on the other hand, have specialized needs like adding tips to bills and splitting bills among multiple cards; we can provide the right products and services to get the job done. On-the-go merchants and service providers need to wrap up sales in remote locations or on the road, making them the perfect candidates for mobile or wireless credit card processing. If you’re an e-commerce merchant, we can set you up with a virtual merchant and integrate with your virtual shopping cart with Transaction Express™, our web-based payment processing platform. And for MOTO (mail order/telephone order) businesses, we deliver a budget-friendly phone credit card processing option.

Finally, let’s talk a little about PCI compliance, which is the basis of accepting credit cards securely. All of the equipment and software provided by Merchant Account meets all current industry data security standards, which means your customers’ personal and financial information is safe with us. Our state-of-the-art security measures include AVS (Address Verification System), which automatically confirms that the address provided by the customer is valid, and SSL (Secure Socket Layer) transmission that protects sensitive data with cutting-edge protocols, including encryption and authentication. Reduce your risk of data breach, credit card fraud, identity theft and chargebacks — and all the fines, penalties and fees associated with them — by achieving and maintaining PCI compliance.

We’ve provided the information you need to get started accepting credit cards. Now it’s time you take the next step by contacting a Merchant Account representative who can walk you through the rest of the process

The recently-released results from the bi-annual Unisys Security Index reveal that more than three-quarters of respondents would stop dealing with an organization completely in the event of a security breach, and nearly 90 percent said they would take action, including closing their account or legal steps.

Additionally, the Unisys study reports that organizations that ignore security concerns also face public perception risks. Almost 65 percent of the people surveyed indicated they’d publicly expose a company that allows a breach — and in this age of Facebook and Twitter, that’s not an idle threat.

“The latest results of the Unisys Security Index suggest that organizations face very real business and financial implications for security breaches,” says Steve Vinsik, a Unisys vice president. “Given recent highly-publicized breaches that have exposed large amounts of sensitive data, the results should be a wake-up call for organizations to take more proactive measures to protect customer data.”

Reputable credit card processors like Merchant Account® take the issue of security very seriously and follow a comprehensive approach to lowering the risk of credit card fraud and identity theft. The first line of defense is PCI compliance, which means meeting the requirements established by the Payment Card Industry Security Standards Council (PCI SSC). This alliance of the major credit card processing companies enforces the PCI Data Security Standards (PCI DSS) that apply to all merchants who process, store or transmit credit, debit or prepaid card information. PCI DSS outlines important steps to take to maintain a secure transaction environment.

In addition to PCI compliance, Merchant Account also offers a data breach security program that helps its member merchants meet the expenses that result from a suspected or actual breach of payment card data. In addition to meeting industry fines and assessments and issuer-related expenses, the program also covers a forensic audit as required by the PCI DSS to confirm whether a breach has actually occurred and to identify weaknesses in the system.

The credit card processing industry is highly regulated, and rightly so since it deals in sensitive personal and financial information. Merchants should recognize that PCI compliance can protect all the parties involved in electronic transactions, including cardholders, processors, the issuing banks and the merchants themselves.

Teaming up with an experienced processor is the first step in securing your credit card processing. Talk to a Merchant Account representative today to see how our technologically-advanced products and services, superior customer support and commitment to secure processing can really pay off for your business and your peace of mind.

Payment gateways protect credit card processing data by encrypting sensitive information and transmitting it securely from merchant to payment processor (or, in the case of online transactions, from customer to merchant to processor). The Transaction Express processing platform delivers an integrated system that enables businesses of all sizes and industries to maximize revenue by reducing or eliminating the costs associated with maintaining traditional POS hardware or software. Accept payment wherever and whenever required by simply using your computer’s web browser and Internet connection in conjunction with a USB card reader to process Visa®, MasterCard®, Discover®, American Express®, Diners Club®, Carte Blanche® and JCB® plus signature debit cards.

Transaction Express supports multiple entry points, including virtual terminal, batch and shopping cart integration. Important features include recurring payment tools like a “wallet” that stores customer payment information for future use that can be fully automated for the convenience of merchant and customer alike. Advanced transaction reporting capabilities provide multiple standard and customizable reports for merchants that contain all the information and detail needed to complete reconciliation or research quickly and efficiently.

Transaction Express integrates with nearly all systems or applications with Internet access and with most websites. It also provides emailed payment notification, multi-user/multi-merchant environments and secure transaction processing including AVS and CVV/CVC/CID fraud prevention tools. Transactions are settled quickly and funds are deposited into the merchant’s bank account in as little as two days.

Take control of your business’s credit card processing with a payment gateway that gives you access wherever, however and whenever you access the Internet. Transaction Express puts the power to grow your business at your fingertips. If you’re ready to move to a virtual merchant account and experience credit card processing and cutting-edge technology, talk to a Merchant Account representative today about how we can help your business realize its full potential.

For example, PayFox® from Merchant Account® is a mobile credit card processing solution that transforms an app-equipped iPhone into a payment card processing terminal-on-the-go that allows you to take your business directly to your customers. Designed for use with the iPhone 3G/3GS and the iPhone 4, it will also work with the iPhone 2G, or iPad and iTouch with available WiFi.

PayFox processes both major credit cards and signature debit cards. By attaching the recommended cardreader to the USB port of your mobile device, every swiped card transaction is automatically processed at lower, card-present rates. In addition to saving you money, the cardreader also eliminates the slower, error-prone process of manual entry of card data. This means transactions are completed in less time with less fuss, and your customers leave happy with their receipts conveniently emailed directly to them.

The business applications for PayFox are endless. Traditional retailers who are interested in expanding their presence in the marketplace can go mobile, setting up shop at remote venues, sporting events, outdoor markets and accept credit cards literally  anywhere they need to be to make the sale. Service providers like electricians, plumbers, contractors and landscapers can collect when services are rendered instead of going through the billing and collection process. Food and beverage vendors who used to depend on cash-only sales can now accept credit cards, which translates into more potential customers and larger orders.

PayFox works like a regular countertop credit card terminal but fits in the palm of your hand and goes where you go. It also supports additional handy functions like speedy single-screen entry, add-on gratuities, authorization within seconds, emailed receipts, storage of customer contact information, geo-location mapping technology, advanced fraud detection with AVS support alerts and secure data transmission via SSL connection.

If your workforce is on the move (or you want it to be), mobile processing with PayFox can support your operation while boosting your bottom line. Talk to a Merchant Account representative today about just how easy and cost effective it can be to accept credit cards on the go with PayFox!

Listed below are the Merchant Account® Top 5 Ways to Accept Credit Cards:

• POS retail credit card processing is the basis on which all subsequent credit card processing options are based. As the name implies, this type of processing is typically used in traditional retail operations and relies on countertop credit card terminals to get the job done. Everything needed to process is housed in the terminal, including a magnetic cardreader, phone or Internet connection to the processor and a receipt printer. The addition of a PIN pad for processing debit cards makes a POS terminal an excellent option for businesses that deal primarily in face-to-face payment card transactions.

• Internet credit card processing harnesses the power and speed of the Internet to accept credit cards in record time. The advent of electronic payment gateways like Merchant Account’s Transaction Express™ offers merchants secure payment processing for transactions both on and off the web. Online merchants appreciate a gateway like ours that offers both a virtual merchant terminal and integration with most virtual shopping carts. This processing platform gives them the ability to accept multiple payment types wherever they have access to an Internet connection.

• Mobile credit card processing with PayFox® from Merchant Account is just one free app download away for merchants with access to an iPhone. Once loaded on your smartphone, you’ve got a terminal-on-the-go that can process major credit cards and signature debit cards with the efficiency and security of a countertop terminal. If your work or sales force is in constant motion and needs to wrap up sales in the field, mobile credit card processing offers all the features they need to meet that goal.

• Phone credit card processing is a low-cost way for low-volume merchants to accept credit cards using a touchtone phone and dialup service — no additional hardware is needed, making this option very budget friendly. MOTO (mail order/telephone order) merchants as well as vendors who do business out of temporary locations like trade shows often find that phone processing fulfills all their requirements.

• Wireless credit card processing is the ultimate cord-cutting option, enabling merchants to accept credit cards without a landline or Internet connection. Wireless processing is flexible, saves time and can reduce operating expenses while providing the same access to credit card authorization networks that a brick-and-mortar retail business has, plus the mobility to pursue sales in new venues. Wireless terminals are compact enough to take wherever you need to go, and they allow you to swipe credit cards and save with card-present processing rates.

Need help sorting out your options for accepting credit cards? Merchant Account representatives are standing by with all the information you need to make the right decision for your business and your budget.

Yes, recessionary times have had an impact on the way Americans use their credit cards. Many are cutting back, paying down their debt and using alternative payment methods like debit and prepaid cards. But there has been no mass exodus from credit cards by consumers, so it remains important that merchants accept them to be competitive in the marketplace.

If you are not sure that accepting credit cards is important for your business, then take notice of the following credit card statistics for 2011 were compiled from three sources: the U.S. Census Bureau, Federal Reserve and The Nilson Report:

• There are 181 million people in the U.S. who have at least one credit card — that’s 77 percent of the adult population.
• There are currently 1.4 billion credit cards in circulation in the U.S.
• On average, cardholders carry 7.7 cards each.
• Looking at it another way, there are approximately 4.5 credit cards for every man, woman and child in the U.S.
• 20 billion credit card transactions are processed each year.
• The total value of those transactions is $1.9 trillion.
• Credit card transactions represent 12.9 percent of the U.S. Gross Domestic product (GDP).
• Based on the transaction and credit cardholder statistics above, a person uses a credit card an average of 119 times in a year and the average total of each transaction is $88. When you do the math, this amounts to an average annual total of about $10,500 in credit card purchases.

Obviously, credit cards remain a major player in the U.S. economy, primarily because cardholders appreciate their convenience and the immediate access to funds that they offer. Spending patterns have become more conservative in recent years, according to Federal Reserve data on revolving consumer debt, which is 98 percent credit card debt. It rose each and every year from 1968 through 2008, peaking at almost $974 billion, before declining to $793 billion in mid-2011.

Even as some consumers curtail their credit card use, they increasingly turn to other payment card options like debit and prepaid cards, which have shown substantial gains in number of transactions, total dollar value and percentage share of non-cash payments in the past few years. Predictions are that debit card and prepaid transaction volume will grow by approximately 9 and 40 percent respectively this year.

Fortunately for merchants, processing these payment cards is as easy as accepting credit cards and uses the same products and services. As a merchant services provider with extensive experience in the credit card processing industry, Merchant Account® knows how critical it is for merchants to stay current with the latest developments and to be able to respond as the market changes. One way to do this is to regularly review your current credit card processing package to ensure that it’s delivering the products and services you need most.

If you’re ready to make sure you’re getting the biggest bang for your buck, talk to a Merchant Account representative today to see what we can do to make accepting credit cards efficient and profitable for your business.