Instant Credit Card Approval Online
By Terje Ellingsen
What do we mean when we say an instant credit card? As most of
the internet surfers should already have noticed, many credit
card companies operating online and offline for that matter,
announce they can offter the best credit card online, even with
instant approval if you apply for it on their website. Some
people think that this means they can instantly download a copy
of a card like waving a magic stick and start to purchase with
it immideately. Let's sort out some confusion here. Many credit
card websites can approve your application instantly, which in
most cases means within a few minutes. But that doesn't mean
you can print out your card and run to your local Wal-Mart or
Target or wherever and immedeately shop. Of course you can
shop, but not with your newly approved card, because you have
not received it yet.
Though the approval procedure only takes minutes, you have to
be patient and wait for your card. This will be sent in the
mail, and it will take a few days. Now, the nice thing with
applying online for a card is that you know if you are approved
for it or not within a fairly short time, and I would think that
this is the best thing for people to know, or like the saying
goes "those who are waiting for something good don't wait in
vain"
Compared to the old-fashioned way of doing it, returning the
snail mail offer for a credit card, waiting days or even weeks
for the bank or credit card company to process it and run your
credit, and finally waiting for them to send out your new
credit card, the online way is far more convenient and fast.
Another advantage of doing the application online is that it
also gives you a fantastic option to compare the cost of credit
offered from a lot of card companies.
There are certain limitations however on who is eligible for an
Instant online credit card approval. Instant approval credit
card offers are targeted to - or at least originally meant to
be for - people with good credit records. However, there are
ways to go around this and sometimes this might be pure luck.
What I mean is, sometimes the card company you apply to, may
not be able to access your credit records for some reasons. But
this is an exception. The competition on the credit market is so
high today, that some companies are willing to tow the line
pretty far to get customers. The bottom line is that even if
your credit history is not so good, you can obtain an instantly
approved credit card. So regardless to what your credit rating
is, there is no reason not to apply.
If you want to apply for an instant approval of a credit card
online, go to the web and search for instant credit card
approval an you'll have more than enough websites to choose
among, giving you the opportunity to compare the offers from
different sites with respect to the cost of credit. Then you
will be able to find the best deal. Good luck!
About the Author: Terje Brooks Ellingsen is a writer and
internet publisher. He runs the website
http://www.1st-in-loan.net Terje gives advice and helps people
with personal financial issues like debt help, see
http://www.1st-in-loan.net/debt_help.htm and to apply for
credit cards, see
//http://www.1st-in-loan.net/credit_card_offer.htm
Source: http://www.isnare.com
Monday, April 30, 2007
Saturday, April 28, 2007
Credit Card Machines 802 Online
Poor Credit Score? Find The Best Bad Credit Card
By Adam Goldman
Having a poor credit rating can seriously limit your choices of
credit cards. Most credit card companies are likely to turn down
your applications, making things tough for you at a time when
you most need a credit card. Fortunately though, that’s not the
end of it as you have another option of bad credit cards.
Naturally, this is a temporary solution until you can get back
on your feet. Bad credit cards can also be used to help you
improve your credit score, as long as you pay your credit card
bills on time, that is. The only drawback to this would
obviously be the higher than usual APR interests.
Nevertheless, if you are willing to provide collateral to the
credit card company, you may qualify for a secured bad credit
card with a lower APR. This way, you can still earn interests
on your collateral, and simultaneously enjoy good rates. The
downside is, you may be charged other fees such as annual fees
or start up fees.
Before you apply for a bad credit card, it is prudent to do
your homework first. As bad credit cards are usually offered to
those with poor credit ratings, the APR would unlikely be low.
Thus, comparing the various offers of bad credit cards out
there would be a wise move.
One of the primary factors of consideration includes the
upfront fees that credit card companies would charge you. In
order to make a wise evaluation, it’s best that you have a plan
to pay off your debt before your interests snowball. Other
factors that you can use to help you make a better decision
would be to analyze the reward programs that your bad credit
card can offer. If you are entitled for retail discounts at
specific retail stores when you charge to your bad credit card,
this would be even more enticing.
With all these factors to consider, it is clear that you should
look around before you apply for a bad credit card. Compare and
contrast the various fees and rates of the candidate companies.
Only after careful consideration should you take the next move
and submit your application.
About the Author: Adam Goldman recommends Find Credit Cards for
finding the best bad credit card. See
http://www.findcreditcards.org/type/bad-credit.php for more
information.
Source: http://www.isnare.com
By Adam Goldman
Having a poor credit rating can seriously limit your choices of
credit cards. Most credit card companies are likely to turn down
your applications, making things tough for you at a time when
you most need a credit card. Fortunately though, that’s not the
end of it as you have another option of bad credit cards.
Naturally, this is a temporary solution until you can get back
on your feet. Bad credit cards can also be used to help you
improve your credit score, as long as you pay your credit card
bills on time, that is. The only drawback to this would
obviously be the higher than usual APR interests.
Nevertheless, if you are willing to provide collateral to the
credit card company, you may qualify for a secured bad credit
card with a lower APR. This way, you can still earn interests
on your collateral, and simultaneously enjoy good rates. The
downside is, you may be charged other fees such as annual fees
or start up fees.
Before you apply for a bad credit card, it is prudent to do
your homework first. As bad credit cards are usually offered to
those with poor credit ratings, the APR would unlikely be low.
Thus, comparing the various offers of bad credit cards out
there would be a wise move.
One of the primary factors of consideration includes the
upfront fees that credit card companies would charge you. In
order to make a wise evaluation, it’s best that you have a plan
to pay off your debt before your interests snowball. Other
factors that you can use to help you make a better decision
would be to analyze the reward programs that your bad credit
card can offer. If you are entitled for retail discounts at
specific retail stores when you charge to your bad credit card,
this would be even more enticing.
With all these factors to consider, it is clear that you should
look around before you apply for a bad credit card. Compare and
contrast the various fees and rates of the candidate companies.
Only after careful consideration should you take the next move
and submit your application.
About the Author: Adam Goldman recommends Find Credit Cards for
finding the best bad credit card. See
http://www.findcreditcards.org/type/bad-credit.php for more
information.
Source: http://www.isnare.com
Friday, April 27, 2007
Credit Card Machines 802 Online
Roles of a Merchant Account to Receive Payments Online
By Michael Braganza
A retail business has special needs to handle their all the transaction when it comes to accepting credit cards it is very necessary to chose the best services of Merchant credit card services. There are number of service providers available in the market, before choosing out of them one should always take precautions. Today, it’s very easy to take the services of Online Merchant Account. To manage all transactions needs, an array of the latest equipments and software those meet all the particular needs of all types of businesses and more. It's no happenstance that one has complete answers for market requirements.
As a retail Merchandiser, We should know what we are acting when it comes to selecting online Merchant account provider and a POS Software terminal solution. Choosing the wrong merchant account provider services can make us paying high priced services on Credit card receivables terminal that our business does not in need of, and forced to pay high monthly fees. Beware of these types of surprises! Here my aim is to aware you all about merchant account, to help in selection of a Merchant Account Provider and Selection of the right Terminal through this article.
What is a Retail Merchant Account?
Before you go to choose a right merchant Solutions provider, you should know what a merchant account is and how it works? Internet credit card processing needs an account called Merchant account that can be opened for a business to receive and process the credit card. When a customer swipes his credit card through a given terminal, all the information of customer transferred securely to a processing bank. The bank which is responsible for this process checks the customers account information whether the required credit amount is available in customers account or not. And if credit amount is available, then they deduct the appropriate amount from the account. If there is not enough credit amount available, then card is rejected to process further and terminal screen displays message regarding problem. If the credit is available, then the money is transferred to merchant’s Account within 48 to 72 hours.
In this process, bank also checks the status of the credit card i.e. whether card is not reported expired, theft or lost. If any of these problems occurs, transaction immediately rejected.
How to settle Your Retail Storefront?
When you are going to settle your Retail Storefront before taking the services of a merchant account provider. It is very important to decide where exactly you want to install the credit card processing equipment. Some of the aspects to decide where to install credit card processing equipment are:
1. Need of customer friendly access terminal
If you are going to accept debit cards, you need to install PIN Pad. In this case you require a terminal called PIN Pad to enter the pin or password.
2. Speed of Credit card processing
When it comes to the speed of processing, Customers never wish to wait that’s why place your terminals in the easily accessible area of your shop. Because of your service turns a new customer in to a permanent one.
3. Installation of telephone jacks
and always makes sure that terminals should be placed near to telephone jacks for connection. Ask your local telephone company to install jacks where you will be installing credit card processing equipments.
4. Types of equipments Available
Always try to go for all in one terminal instead of separate equipments. As per your requirement you can choose the equipments from wide range of verities available. E.g. All-in-One Terminal/Printers, Printers, POS Software, Wireless Terminals/Printers, Pin Pads, Terminals, Check Readers etc.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Merchant Solutions like Merchant credit card services Now he is rendering his services to http://www.themerchantsolutions.com/
Article Source: http://EzineArticles.com/?expert=Michael_Braganza
http://EzineArticles.com/?Roles-of-a-Merchant-Account-to-Receive-Payments-Online&id=492982
By Michael Braganza
A retail business has special needs to handle their all the transaction when it comes to accepting credit cards it is very necessary to chose the best services of Merchant credit card services. There are number of service providers available in the market, before choosing out of them one should always take precautions. Today, it’s very easy to take the services of Online Merchant Account. To manage all transactions needs, an array of the latest equipments and software those meet all the particular needs of all types of businesses and more. It's no happenstance that one has complete answers for market requirements.
As a retail Merchandiser, We should know what we are acting when it comes to selecting online Merchant account provider and a POS Software terminal solution. Choosing the wrong merchant account provider services can make us paying high priced services on Credit card receivables terminal that our business does not in need of, and forced to pay high monthly fees. Beware of these types of surprises! Here my aim is to aware you all about merchant account, to help in selection of a Merchant Account Provider and Selection of the right Terminal through this article.
What is a Retail Merchant Account?
Before you go to choose a right merchant Solutions provider, you should know what a merchant account is and how it works? Internet credit card processing needs an account called Merchant account that can be opened for a business to receive and process the credit card. When a customer swipes his credit card through a given terminal, all the information of customer transferred securely to a processing bank. The bank which is responsible for this process checks the customers account information whether the required credit amount is available in customers account or not. And if credit amount is available, then they deduct the appropriate amount from the account. If there is not enough credit amount available, then card is rejected to process further and terminal screen displays message regarding problem. If the credit is available, then the money is transferred to merchant’s Account within 48 to 72 hours.
In this process, bank also checks the status of the credit card i.e. whether card is not reported expired, theft or lost. If any of these problems occurs, transaction immediately rejected.
How to settle Your Retail Storefront?
When you are going to settle your Retail Storefront before taking the services of a merchant account provider. It is very important to decide where exactly you want to install the credit card processing equipment. Some of the aspects to decide where to install credit card processing equipment are:
1. Need of customer friendly access terminal
If you are going to accept debit cards, you need to install PIN Pad. In this case you require a terminal called PIN Pad to enter the pin or password.
2. Speed of Credit card processing
When it comes to the speed of processing, Customers never wish to wait that’s why place your terminals in the easily accessible area of your shop. Because of your service turns a new customer in to a permanent one.
3. Installation of telephone jacks
and always makes sure that terminals should be placed near to telephone jacks for connection. Ask your local telephone company to install jacks where you will be installing credit card processing equipments.
4. Types of equipments Available
Always try to go for all in one terminal instead of separate equipments. As per your requirement you can choose the equipments from wide range of verities available. E.g. All-in-One Terminal/Printers, Printers, POS Software, Wireless Terminals/Printers, Pin Pads, Terminals, Check Readers etc.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Merchant Solutions like Merchant credit card services Now he is rendering his services to http://www.themerchantsolutions.com/
Article Source: http://EzineArticles.com/?expert=Michael_Braganza
http://EzineArticles.com/?Roles-of-a-Merchant-Account-to-Receive-Payments-Online&id=492982
Wednesday, April 25, 2007
Credit Card Machines 802 Online
The Cost of Leasing a Credit Card Machine
By Jamie Estep
Leasing credit card machines and equipment is a common practice for many new business owners. When a business starts out, they are often met with a barrage of telemarketers and companies offering to help them to accept credit cards. Because of the new business owner's extremely busy schedule and lack of knowledge regarding the credit card processing industry, owners are often convinced that leasing a credit card terminal is the best solution for their business.
In reality, leasing a credit card machine is far from the best interest. For most businesses, a simple swipe and print credit card machine is a perfectly acceptable method of accepting credit cards. What many new business owners fail to do, is investigate the actual price of a new credit card machine. What they would find is that the outright purchase of a credit card terminal is often a completely reasonably priced purchase, and usually is many times less costly than a lease. What would cost them two to three hundred dollars to own, can cost them thousands of dollars to lease. Money is very tight, especially during the startup phase of a business, and the extra money spent on leasing a credit card machine is most definitely better suited elsewhere.
Leasing credit card equipment became a standard in the eighties and early nineties, when the lack of consumer knowledge and a growing processing industry led to the portrayal of high priced processing equipment. During this time fifty dollar per month leases were not uncommon. Since the creation of the internet, consumers have access to a vast amount of information. Processing companies can no longer easily inflate the costs of processing equipment. Now, new business owners are virtually the only group susceptible to getting scammed into a lease. This is due mainly to time constraints and a lack of research on their part.
Leases do still play a role in obtaining credit card equipment, but should only be considered when the required equipment is very high priced. Wireless terminals, while becoming more affordable, can still be a considerable investment. Wireless terminals can still cost over a thousand dollars to purchase which is definitely a significant amount of money. Leasing a wireless terminal can alleviate some of this cost, but business owners should still be aware that they will pay more than the cost of the terminal in the end.
Leases also often come with strings attached, or more appropriately a web of strings attached. Lease commonly last for thirty six to forty eight months, but can be in any increment from twelve months up to forty eight. The shorter the lease, the higher the monthly payment. Leases are also normally non cancel-able for the duration of the lease. There may be considerable penalties for canceling a lease before its term is up. Leases are not always for ownership of the equipment, and hefty buyout fees can occur at the end of the lease. Some leases start over at the end of their term, and the business only has a short window to opt out of the lease. Businesses should be aware of the terms governing the lease before they even contemplate signing it. Signing a lease without fully understanding what is involved in it and fully calculating the cost of the lease can be an extremely expensive mistake.
Enter your lease information into the lease cost calculator to find out how much extra leasing will cost you compared to purchasing.
Copyright 2006 Jamie Estep, The Merchant Account Blog.
Jamie Estep runs the website: (The Merchant Account Blog) and offers information and advice on topics relating to credit card processing. The Merchant Account Blog also has a lease cost calculator where businesses can compare the costs of an equipment lease to purchasing a terminal outright. (Credit Card Terminal Lease Calculator)
Article Source: http://EzineArticles.com/?expert=Jamie_Estep
http://EzineArticles.com/?The-Cost-of-Leasing-a-Credit-Card-Machine&id=190057
By Jamie Estep
Leasing credit card machines and equipment is a common practice for many new business owners. When a business starts out, they are often met with a barrage of telemarketers and companies offering to help them to accept credit cards. Because of the new business owner's extremely busy schedule and lack of knowledge regarding the credit card processing industry, owners are often convinced that leasing a credit card terminal is the best solution for their business.
In reality, leasing a credit card machine is far from the best interest. For most businesses, a simple swipe and print credit card machine is a perfectly acceptable method of accepting credit cards. What many new business owners fail to do, is investigate the actual price of a new credit card machine. What they would find is that the outright purchase of a credit card terminal is often a completely reasonably priced purchase, and usually is many times less costly than a lease. What would cost them two to three hundred dollars to own, can cost them thousands of dollars to lease. Money is very tight, especially during the startup phase of a business, and the extra money spent on leasing a credit card machine is most definitely better suited elsewhere.
Leasing credit card equipment became a standard in the eighties and early nineties, when the lack of consumer knowledge and a growing processing industry led to the portrayal of high priced processing equipment. During this time fifty dollar per month leases were not uncommon. Since the creation of the internet, consumers have access to a vast amount of information. Processing companies can no longer easily inflate the costs of processing equipment. Now, new business owners are virtually the only group susceptible to getting scammed into a lease. This is due mainly to time constraints and a lack of research on their part.
Leases do still play a role in obtaining credit card equipment, but should only be considered when the required equipment is very high priced. Wireless terminals, while becoming more affordable, can still be a considerable investment. Wireless terminals can still cost over a thousand dollars to purchase which is definitely a significant amount of money. Leasing a wireless terminal can alleviate some of this cost, but business owners should still be aware that they will pay more than the cost of the terminal in the end.
Leases also often come with strings attached, or more appropriately a web of strings attached. Lease commonly last for thirty six to forty eight months, but can be in any increment from twelve months up to forty eight. The shorter the lease, the higher the monthly payment. Leases are also normally non cancel-able for the duration of the lease. There may be considerable penalties for canceling a lease before its term is up. Leases are not always for ownership of the equipment, and hefty buyout fees can occur at the end of the lease. Some leases start over at the end of their term, and the business only has a short window to opt out of the lease. Businesses should be aware of the terms governing the lease before they even contemplate signing it. Signing a lease without fully understanding what is involved in it and fully calculating the cost of the lease can be an extremely expensive mistake.
Enter your lease information into the lease cost calculator to find out how much extra leasing will cost you compared to purchasing.
Copyright 2006 Jamie Estep, The Merchant Account Blog.
Jamie Estep runs the website: (The Merchant Account Blog) and offers information and advice on topics relating to credit card processing. The Merchant Account Blog also has a lease cost calculator where businesses can compare the costs of an equipment lease to purchasing a terminal outright. (Credit Card Terminal Lease Calculator)
Article Source: http://EzineArticles.com/?expert=Jamie_Estep
http://EzineArticles.com/?The-Cost-of-Leasing-a-Credit-Card-Machine&id=190057
Tuesday, April 17, 2007
Credit Card Machines 802 Online
Negotiate Your Way To Lower Credit Card APR's!
By James Dimmitt
I have three major credit card accounts that I've had for many
years. The other night I was reconciling my monthly statements
and noticed a large discrepancy in the APR's (annual percentage
rate) I was paying on these three accounts.
My first card, card "A", has an APR of 8.9%; card "B" has an
APR of 9.9%; and card "C" has an APR of 17.9% -Ouch ! I knew I
had to see what I could do about this"out of range" interest
rate on card "C". So I considered a couple of options.
One choice would be to transfer or switch the balance on card
"C" to a new card with a lower APR. This would be very easy
to do since I had received several pre-approved credit card
offers earlier in the week. They included "convenience checks"
that I could use to payoff that high APR credit card, thereby
transferring that balance to a new account.
I decided against this option however because I didn't really
want to add another account to my credit profile. Your credit
score, that "magic number" that establishes your
credit-worthiness to merchants can be affected negatively by
having too many accounts.
So instead I decided to contact the issuer of credit card "C"
to see what they could do about that 17.9% APR which seemed so
out of line with my two other credit card accounts. I reasoned
this was the better of the two options before me since I've
already established a relationship with this company; a
relationship which included many years of on-time payments
which reflects positively in my credit profile with the credit
bureaus.
I called the 800 number and talked to a very a nice gentleman.
I explained to him the reason for my call; two other credit card
issuers offered me a much more reasonable interest rate and so
I'd like to see what his company could offer to me.
I wasn't surprised when he replied that he could lower my
current rate from 17.9% to 15.9%. Since the credit card
company makes a profit from the interest rate they charge I
didn't expect to be offered the best or lowest rate right off
the bat. I prepared myself to have to do a little negotiating.
And so I reminded him that my account was in goodstanding and
had been for many years now. I had not made any late payments
and always made more thanthe minimum payment due.
Again he informed me that the best he could offer was a rate of
15.9% that would be good until August 2003. So now not only
was I not feeling like I was getting a very good deal but this
new rate would only be a "promotional" rate !
I remained calm and friendly, knowing that yelling at him or
telling him what a "lousy" company he worked for would be
counterproductive to my end goal - a lower and better APR for
this account. I thaned him for his time but told him I didn't
feel this was a very good offer.
And then the "magic" happened. He asked if I would like to
speak to an account manager and that perhaps they could better
assist me. I thanked him for his time and assistance and was
then transferred to an account manager.
I explained my dilemma to her and reasoned with her that as a
good customer I expected a much better rate. She empathized
with me and then offered to upgrade my account to their
platinum status which carried an APR of 9.9% ! In addition,
the platinum card offered many more benefits and had no annual
fee. She also assured me that this was a "contract rate" and
not a promotional rate. I would keep the same account number
so I would not be opening a "new" account but simply upgrading
my current account status.
Next time you are reconciling your monthly statements take a
close look at the various APR's you are paying. If you notice
a disparity in the rates you are paying, call your card issuers
to negotiate a better rate. My persistence paid off. Be
persistent - it can pay off for you too!
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
By James Dimmitt
I have three major credit card accounts that I've had for many
years. The other night I was reconciling my monthly statements
and noticed a large discrepancy in the APR's (annual percentage
rate) I was paying on these three accounts.
My first card, card "A", has an APR of 8.9%; card "B" has an
APR of 9.9%; and card "C" has an APR of 17.9% -Ouch ! I knew I
had to see what I could do about this"out of range" interest
rate on card "C". So I considered a couple of options.
One choice would be to transfer or switch the balance on card
"C" to a new card with a lower APR. This would be very easy
to do since I had received several pre-approved credit card
offers earlier in the week. They included "convenience checks"
that I could use to payoff that high APR credit card, thereby
transferring that balance to a new account.
I decided against this option however because I didn't really
want to add another account to my credit profile. Your credit
score, that "magic number" that establishes your
credit-worthiness to merchants can be affected negatively by
having too many accounts.
So instead I decided to contact the issuer of credit card "C"
to see what they could do about that 17.9% APR which seemed so
out of line with my two other credit card accounts. I reasoned
this was the better of the two options before me since I've
already established a relationship with this company; a
relationship which included many years of on-time payments
which reflects positively in my credit profile with the credit
bureaus.
I called the 800 number and talked to a very a nice gentleman.
I explained to him the reason for my call; two other credit card
issuers offered me a much more reasonable interest rate and so
I'd like to see what his company could offer to me.
I wasn't surprised when he replied that he could lower my
current rate from 17.9% to 15.9%. Since the credit card
company makes a profit from the interest rate they charge I
didn't expect to be offered the best or lowest rate right off
the bat. I prepared myself to have to do a little negotiating.
And so I reminded him that my account was in goodstanding and
had been for many years now. I had not made any late payments
and always made more thanthe minimum payment due.
Again he informed me that the best he could offer was a rate of
15.9% that would be good until August 2003. So now not only
was I not feeling like I was getting a very good deal but this
new rate would only be a "promotional" rate !
I remained calm and friendly, knowing that yelling at him or
telling him what a "lousy" company he worked for would be
counterproductive to my end goal - a lower and better APR for
this account. I thaned him for his time but told him I didn't
feel this was a very good offer.
And then the "magic" happened. He asked if I would like to
speak to an account manager and that perhaps they could better
assist me. I thanked him for his time and assistance and was
then transferred to an account manager.
I explained my dilemma to her and reasoned with her that as a
good customer I expected a much better rate. She empathized
with me and then offered to upgrade my account to their
platinum status which carried an APR of 9.9% ! In addition,
the platinum card offered many more benefits and had no annual
fee. She also assured me that this was a "contract rate" and
not a promotional rate. I would keep the same account number
so I would not be opening a "new" account but simply upgrading
my current account status.
Next time you are reconciling your monthly statements take a
close look at the various APR's you are paying. If you notice
a disparity in the rates you are paying, call your card issuers
to negotiate a better rate. My persistence paid off. Be
persistent - it can pay off for you too!
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
Monday, April 16, 2007
Credit Card Machines 802 Online
Mobile Credit Card Processing Equipment
By Thomas Morva
In today's business environment, credit card processing equipment is an essential tool for completing an online transaction. Compared to traditional credit card processing services, mobile credit card processing ensures faster payment, increases overall sales and credibility, and saves a lot of money. A well maintained mobile credit card processing equipment is a must for such transactions. Mobile credit card machines are useful for those merchants who like to take their business to the customers. The functioning of a mobile credit card machine is simple. By swiping the customer's credit card through the mobile credit card processing equipment, all the transaction processes are done automatically in real time. When the merchant gets the authorization, a printed receipt is given to the customer.
Mobile credit card processing equipment helps in accepting payments through online credit cards as well as by telephone. With its state-of-the-art technology, mobile credit card processing equipment provides a secure payment gateway that enables fraud screening and also real time reporting of every transaction. For an online transaction, only a virtual terminal is needed. This enables you to get all the services through the Internet.
Mobile credit card processing equipment has certain added advantages when compared to traditional wireless merchant accounts. They include low monthly charges, low processing fee and no monthly minimum processing charge. Today, the wireless mobile credit card processing equipment is the latest in convenience and portability.
Many business concerns sign a contract with mobile credit card processing equipment companies for their services. These contracts might be for 2 to 5 years, a fact which is often unknown to the firm. Consequently, if a firm needs to terminate a contract, a cancellation fee is charged by these companies. So care should be while choosing the services of such companies.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Mobile-Credit-Card-Processing-Equipment&id=353158
By Thomas Morva
In today's business environment, credit card processing equipment is an essential tool for completing an online transaction. Compared to traditional credit card processing services, mobile credit card processing ensures faster payment, increases overall sales and credibility, and saves a lot of money. A well maintained mobile credit card processing equipment is a must for such transactions. Mobile credit card machines are useful for those merchants who like to take their business to the customers. The functioning of a mobile credit card machine is simple. By swiping the customer's credit card through the mobile credit card processing equipment, all the transaction processes are done automatically in real time. When the merchant gets the authorization, a printed receipt is given to the customer.
Mobile credit card processing equipment helps in accepting payments through online credit cards as well as by telephone. With its state-of-the-art technology, mobile credit card processing equipment provides a secure payment gateway that enables fraud screening and also real time reporting of every transaction. For an online transaction, only a virtual terminal is needed. This enables you to get all the services through the Internet.
Mobile credit card processing equipment has certain added advantages when compared to traditional wireless merchant accounts. They include low monthly charges, low processing fee and no monthly minimum processing charge. Today, the wireless mobile credit card processing equipment is the latest in convenience and portability.
Many business concerns sign a contract with mobile credit card processing equipment companies for their services. These contracts might be for 2 to 5 years, a fact which is often unknown to the firm. Consequently, if a firm needs to terminate a contract, a cancellation fee is charged by these companies. So care should be while choosing the services of such companies.
Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva
http://EzineArticles.com/?Mobile-Credit-Card-Processing-Equipment&id=353158
Saturday, April 14, 2007
Credit Card Machines 802 Online
Roles of a Merchant Account to Receive Payments Online
By Michael Braganza
A retail business has special needs to handle their all the transaction when it comes to accepting credit cards it is very necessary to chose the best services of Merchant credit card services. There are number of service providers available in the market, before choosing out of them one should always take precautions. Today, it’s very easy to take the services of Online Merchant Account. To manage all transactions needs, an array of the latest equipments and software those meet all the particular needs of all types of businesses and more. It's no happenstance that one has complete answers for market requirements.
As a retail Merchandiser, We should know what we are acting when it comes to selecting online Merchant account provider and a POS Software terminal solution. Choosing the wrong merchant account provider services can make us paying high priced services on Credit card receivables terminal that our business does not in need of, and forced to pay high monthly fees. Beware of these types of surprises! Here my aim is to aware you all about merchant account, to help in selection of a Merchant Account Provider and Selection of the right Terminal through this article.
What is a Retail Merchant Account?
Before you go to choose a right merchant Solutions provider, you should know what a merchant account is and how it works? Internet credit card processing needs an account called Merchant account that can be opened for a business to receive and process the credit card. When a customer swipes his credit card through a given terminal, all the information of customer transferred securely to a processing bank. The bank which is responsible for this process checks the customers account information whether the required credit amount is available in customers account or not. And if credit amount is available, then they deduct the appropriate amount from the account. If there is not enough credit amount available, then card is rejected to process further and terminal screen displays message regarding problem. If the credit is available, then the money is transferred to merchant’s Account within 48 to 72 hours.
In this process, bank also checks the status of the credit card i.e. whether card is not reported expired, theft or lost. If any of these problems occurs, transaction immediately rejected.
How to settle Your Retail Storefront?
When you are going to settle your Retail Storefront before taking the services of a merchant account provider. It is very important to decide where exactly you want to install the credit card processing equipment. Some of the aspects to decide where to install credit card processing equipment are:
1. Need of customer friendly access terminal
If you are going to accept debit cards, you need to install PIN Pad. In this case you require a terminal called PIN Pad to enter the pin or password.
2. Speed of Credit card processing
When it comes to the speed of processing, Customers never wish to wait that’s why place your terminals in the easily accessible area of your shop. Because of your service turns a new customer in to a permanent one.
3. Installation of telephone jacks
and always makes sure that terminals should be placed near to telephone jacks for connection. Ask your local telephone company to install jacks where you will be installing credit card processing equipments.
4. Types of equipments Available
Always try to go for all in one terminal instead of separate equipments. As per your requirement you can choose the equipments from wide range of verities available. E.g. All-in-One Terminal/Printers, Printers, POS Software, Wireless Terminals/Printers, Pin Pads, Terminals, Check Readers etc.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Merchant Solutions like Merchant credit card services Now he is rendering his services to http://www.themerchantsolutions.com/
Article Source: http://EzineArticles.com/?expert=Michael_Braganza
http://EzineArticles.com/?Roles-of-a-Merchant-Account-to-Receive-Payments-Online&id=492982
By Michael Braganza
A retail business has special needs to handle their all the transaction when it comes to accepting credit cards it is very necessary to chose the best services of Merchant credit card services. There are number of service providers available in the market, before choosing out of them one should always take precautions. Today, it’s very easy to take the services of Online Merchant Account. To manage all transactions needs, an array of the latest equipments and software those meet all the particular needs of all types of businesses and more. It's no happenstance that one has complete answers for market requirements.
As a retail Merchandiser, We should know what we are acting when it comes to selecting online Merchant account provider and a POS Software terminal solution. Choosing the wrong merchant account provider services can make us paying high priced services on Credit card receivables terminal that our business does not in need of, and forced to pay high monthly fees. Beware of these types of surprises! Here my aim is to aware you all about merchant account, to help in selection of a Merchant Account Provider and Selection of the right Terminal through this article.
What is a Retail Merchant Account?
Before you go to choose a right merchant Solutions provider, you should know what a merchant account is and how it works? Internet credit card processing needs an account called Merchant account that can be opened for a business to receive and process the credit card. When a customer swipes his credit card through a given terminal, all the information of customer transferred securely to a processing bank. The bank which is responsible for this process checks the customers account information whether the required credit amount is available in customers account or not. And if credit amount is available, then they deduct the appropriate amount from the account. If there is not enough credit amount available, then card is rejected to process further and terminal screen displays message regarding problem. If the credit is available, then the money is transferred to merchant’s Account within 48 to 72 hours.
In this process, bank also checks the status of the credit card i.e. whether card is not reported expired, theft or lost. If any of these problems occurs, transaction immediately rejected.
How to settle Your Retail Storefront?
When you are going to settle your Retail Storefront before taking the services of a merchant account provider. It is very important to decide where exactly you want to install the credit card processing equipment. Some of the aspects to decide where to install credit card processing equipment are:
1. Need of customer friendly access terminal
If you are going to accept debit cards, you need to install PIN Pad. In this case you require a terminal called PIN Pad to enter the pin or password.
2. Speed of Credit card processing
When it comes to the speed of processing, Customers never wish to wait that’s why place your terminals in the easily accessible area of your shop. Because of your service turns a new customer in to a permanent one.
3. Installation of telephone jacks
and always makes sure that terminals should be placed near to telephone jacks for connection. Ask your local telephone company to install jacks where you will be installing credit card processing equipments.
4. Types of equipments Available
Always try to go for all in one terminal instead of separate equipments. As per your requirement you can choose the equipments from wide range of verities available. E.g. All-in-One Terminal/Printers, Printers, POS Software, Wireless Terminals/Printers, Pin Pads, Terminals, Check Readers etc.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Merchant Solutions like Merchant credit card services Now he is rendering his services to http://www.themerchantsolutions.com/
Article Source: http://EzineArticles.com/?expert=Michael_Braganza
http://EzineArticles.com/?Roles-of-a-Merchant-Account-to-Receive-Payments-Online&id=492982
Friday, April 13, 2007
Credit Card Machines 802 Online
Credit Card Fraud - Part I
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
Thursday, April 12, 2007
Credit Card Machines 802 Online
Credit Cards – Why Are They So Popular?
By Joseph Kenny
Credit cards have ballooned in popularity over the last decade. While once the preserve of the very rich, or very indebted, they are now available to practically everyone who wants them. They have become far easier to get a hold of. There is also a huge variety of choice out there for anyone who wants a credit card.
Different Types of Credit Cards
There are exclusive cards that offer their holders a huge array of benefits in exchange for a fee. But there are also cards that carry no subscription fee, give zero per cent on balance transfers and sometimes on purchases to for a certain period and offer quite competitive rates after that.
Increasing Demand
The credit card industry has experienced a massive amount of competition in recent years. Not only have a huge number of new players entered the market, but with the growth of store cards and debit cards, the traditional credit card providers have had to vastly improve the terms on which they do business with customers. This means that customers have more choice and better offers than ever before and this is also fuelling the demand for more credit cards.
Foreign Travel
Credit cards are becoming increasingly popular for people who frequently travel abroad. Rather than carry traveller’s cheques or a host of currencies around with them, they simply take a credit card. This can be used to pay almost anywhere in the world, and even when this becomes difficult, you can still use your credit card in a local bank machine to take out cash in whatever currency you need. Of course credit cards will charge a fee for all of this, but increasingly, as these fees become more competitive, customers are deciding that the fees are well worth the convenience and reliability that they offer while abroad. They are also very secure and if lost or stolen, can be cancelled quickly and easily.
Shopping Online
Online shopping has been another reason for the growth in popularity of credit cards and one of the main advantages to younger shoppers who are buying more and more goods and services online. From flights, to car rental bookings, to books and cds, shoppers would find it increasingly difficult to make such purposes if they did not have a credit card.
Consumer Debt
All of these benefits are what is leading to the phenomenal growth in the popularity of credit cards, but this is also leading to a serious problem of debt. The economy is in dire straits mainly due to consumer debt and with the lure of credit within everyone’s easy reach the problem looks set to increase. Only a massive swing in consumer attitude could change this problem without the intervention of the government. The Bank of England in fact is, at the time of writing, contemplating another increase in the base interest rate in an attempt to curb further spending.
Therefore, anyone considering taking out a new credit card should check the terms and conditions carefully and find out if they can afford it or not.
You may freely reprint this article as long as the author bio and live links are left intact.
For more information on credit cards visit Joseph Kenny's personal site http://www.cardguide.co.uk. He recommends reading the credit card guide section for more detailed analysis.
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Credit-Cards---Why-Are-They-So-Popular?&id=163747
By Joseph Kenny
Credit cards have ballooned in popularity over the last decade. While once the preserve of the very rich, or very indebted, they are now available to practically everyone who wants them. They have become far easier to get a hold of. There is also a huge variety of choice out there for anyone who wants a credit card.
Different Types of Credit Cards
There are exclusive cards that offer their holders a huge array of benefits in exchange for a fee. But there are also cards that carry no subscription fee, give zero per cent on balance transfers and sometimes on purchases to for a certain period and offer quite competitive rates after that.
Increasing Demand
The credit card industry has experienced a massive amount of competition in recent years. Not only have a huge number of new players entered the market, but with the growth of store cards and debit cards, the traditional credit card providers have had to vastly improve the terms on which they do business with customers. This means that customers have more choice and better offers than ever before and this is also fuelling the demand for more credit cards.
Foreign Travel
Credit cards are becoming increasingly popular for people who frequently travel abroad. Rather than carry traveller’s cheques or a host of currencies around with them, they simply take a credit card. This can be used to pay almost anywhere in the world, and even when this becomes difficult, you can still use your credit card in a local bank machine to take out cash in whatever currency you need. Of course credit cards will charge a fee for all of this, but increasingly, as these fees become more competitive, customers are deciding that the fees are well worth the convenience and reliability that they offer while abroad. They are also very secure and if lost or stolen, can be cancelled quickly and easily.
Shopping Online
Online shopping has been another reason for the growth in popularity of credit cards and one of the main advantages to younger shoppers who are buying more and more goods and services online. From flights, to car rental bookings, to books and cds, shoppers would find it increasingly difficult to make such purposes if they did not have a credit card.
Consumer Debt
All of these benefits are what is leading to the phenomenal growth in the popularity of credit cards, but this is also leading to a serious problem of debt. The economy is in dire straits mainly due to consumer debt and with the lure of credit within everyone’s easy reach the problem looks set to increase. Only a massive swing in consumer attitude could change this problem without the intervention of the government. The Bank of England in fact is, at the time of writing, contemplating another increase in the base interest rate in an attempt to curb further spending.
Therefore, anyone considering taking out a new credit card should check the terms and conditions carefully and find out if they can afford it or not.
You may freely reprint this article as long as the author bio and live links are left intact.
For more information on credit cards visit Joseph Kenny's personal site http://www.cardguide.co.uk. He recommends reading the credit card guide section for more detailed analysis.
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Credit-Cards---Why-Are-They-So-Popular?&id=163747
Wednesday, April 11, 2007
Credit Card Machines 802 Online
Credit Card FAQ - Credit Card Security and Authentication
By Joseph Kenny
With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It's only reasonable that people have questions about credit card security and authentication methods. Here are some of the most frequently asked questions about credit card security.
1. How does the ATM or store terminal know my PIN number?
PIN (personal identification numbers) are the most often used way to authenticate your identity when you use your credit or ATM card. When you first choose your PIN number, it is 'encrypted' - stored in a secret code of letters and symbols - and either stored in a database or on the magnetic stripe on the back of your card.
2. If my PIN number is stored in a database, doesn't that mean that bank or credit card employees have access to it?
The encryption method that's used by ATM and credit cards is called 'one-way encryption'. It makes it easy for the bank's computer to verify the PIN given the bank's key and the PIN, but nearly impossible to extract the PIN in text form from the encrypted database.
3. How does the machine 'read' my card?
The stripe on the back of your credit or ATM card is called a magnetic stripe. It's actually made up of thousands of tiny magnetic iron-based particles. The card can be 'written to' much the same way that the hard drive on your computer can be written - by means of magnetic interaction changing the charge. Written into the stripe are your account number and identifying data. When you swipe the card, that information is read and sent via modem to an 'acquirer' - a company that 'acquires' a payment guarantee from the credit card company based on the information stored on your card's magnetic stripe.
4. Isn't buying on the internet dangerous and insecure?
Honestly? Your credit card information is in less danger being transmitted over the internet than it is when you hand your card to a store clerk at the counter. The real danger to your credit card information isn't from hackers hitting online merchants, or stealing your credit card information via modem or phone lines. The real internet security dangers come from two different directions:
a. Hackers using back doors to get into the records of banks, credit card companies and data repositories.
This is the biggest danger. It's also a danger for stores and companies that have records 'online' for billing purposes. There's a great deal being done to improve security of data repositories, which are far more vulnerable than any data transmission stream.
b. The second big credit card security danger is the practice that's sometimes called 'phishing'.
In this case, the credit card thieves trick you into giving them your identification and credit card data. They may do this with an email purporting to be from an official of your internet service provider or email, your credit card issuer or anyone else. They also may build sites that are identical to sites like Paypal, American Express and others for the express purpose of capturing your information so that they can use it.
5. How do I protect myself from phishers?
First, never provide your social security number or other identifying data to anyone without first verifying that they are exactly who they say they are. Experts recommend that you never use the link provided in an email to go to the site of someone you do business with. Instead, open a new browser window and type in the known address by hand
You may freely reprint this article provided that the author bio and live links are left intact.
Joseph Kenny writes for the credit card comparison site http://www.creditcards121.com/ and visit credit card advice for more information on credit card security.
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Credit-Card-FAQ---Credit-Card-Security-and-Authentication&id=168150
By Joseph Kenny
With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It's only reasonable that people have questions about credit card security and authentication methods. Here are some of the most frequently asked questions about credit card security.
1. How does the ATM or store terminal know my PIN number?
PIN (personal identification numbers) are the most often used way to authenticate your identity when you use your credit or ATM card. When you first choose your PIN number, it is 'encrypted' - stored in a secret code of letters and symbols - and either stored in a database or on the magnetic stripe on the back of your card.
2. If my PIN number is stored in a database, doesn't that mean that bank or credit card employees have access to it?
The encryption method that's used by ATM and credit cards is called 'one-way encryption'. It makes it easy for the bank's computer to verify the PIN given the bank's key and the PIN, but nearly impossible to extract the PIN in text form from the encrypted database.
3. How does the machine 'read' my card?
The stripe on the back of your credit or ATM card is called a magnetic stripe. It's actually made up of thousands of tiny magnetic iron-based particles. The card can be 'written to' much the same way that the hard drive on your computer can be written - by means of magnetic interaction changing the charge. Written into the stripe are your account number and identifying data. When you swipe the card, that information is read and sent via modem to an 'acquirer' - a company that 'acquires' a payment guarantee from the credit card company based on the information stored on your card's magnetic stripe.
4. Isn't buying on the internet dangerous and insecure?
Honestly? Your credit card information is in less danger being transmitted over the internet than it is when you hand your card to a store clerk at the counter. The real danger to your credit card information isn't from hackers hitting online merchants, or stealing your credit card information via modem or phone lines. The real internet security dangers come from two different directions:
a. Hackers using back doors to get into the records of banks, credit card companies and data repositories.
This is the biggest danger. It's also a danger for stores and companies that have records 'online' for billing purposes. There's a great deal being done to improve security of data repositories, which are far more vulnerable than any data transmission stream.
b. The second big credit card security danger is the practice that's sometimes called 'phishing'.
In this case, the credit card thieves trick you into giving them your identification and credit card data. They may do this with an email purporting to be from an official of your internet service provider or email, your credit card issuer or anyone else. They also may build sites that are identical to sites like Paypal, American Express and others for the express purpose of capturing your information so that they can use it.
5. How do I protect myself from phishers?
First, never provide your social security number or other identifying data to anyone without first verifying that they are exactly who they say they are. Experts recommend that you never use the link provided in an email to go to the site of someone you do business with. Instead, open a new browser window and type in the known address by hand
You may freely reprint this article provided that the author bio and live links are left intact.
Joseph Kenny writes for the credit card comparison site http://www.creditcards121.com/ and visit credit card advice for more information on credit card security.
Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Credit-Card-FAQ---Credit-Card-Security-and-Authentication&id=168150
Tuesday, April 10, 2007
Credit Card Machines 802 Online
Credit Card Fraud - Part I
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
Monday, April 9, 2007
Credit Card Machines 802 Online
Credit Card Fraud - Part I
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
By Michael Russell
In this series we are going to cover one of the biggest problems all over the world. Credit card fraud.
For those who may not exactly know what credit card fraud is, a simple definition. Credit card fraud is the act of making a purchase using someone else's credit card information. Sounds like something that should be difficult to do. Unfortunately, it's not.
There are many types of credit card fraud, the most common we'll cover in this article.
First there is what is called "mail non-receipt fraud" which is when a new or replacement card is sent by the bank and never received by the person it was supposed to go to. This has been mostly combated by the banks sending out inactive credit cards where the person has to make a phone call in order to activate the card. Otherwise it can't be used. Unfortunately there are some banks that do not do this and still send out cards that are already activated.
Then there is what is called "chargeback fraud" where a legitimate cardholder uses the card to purchase goods or services. Then when the statement comes they call the credit card company and claim they never received the item or service or that they never authorized the transaction.
Another type of credit card fraud is called "skimming" where an employee or merchant makes a second copy of the person's credit card details before processing the payment. This copy is then sold on the black market to professionals who clone illegal copies of these cards. Fortunately, skimming has become less of a problem since the introduction of CVV and CVS codes. These are not encoded on the card strip but are physically written on the back of the card. This is a required three digit code to finalize all transactions. Without this code even a cloned credit card will not work.
Skimming at ATMs has also been a problem. What the illegally set up ATM machine does is place a skimmer device somewhere in the machine that reads the magnetic strip attached to the card. This is used together with various devices that monitor the keypad of the ATM by attaching a fake fascia over the original keypad. Fortunately, this is not as common today as it was years ago when ATM machines were relatively new.
Then of course there is "online credit card fraud" which is the most common type of credit card fraud today with all the transactions that people do each day. This type of fraud gets a little complicated but simply stated, when a person uses their credit card online, hackers monitor the person's entry into the merchant's system and essentially steal the credit card information without the person having any idea this is happening. Another way to get a person's credit card info online is to send an official looking email telling the person that they have to update their credit card info. They are sent a bogus link to go to where the info is collected and used for whatever purpose the scammer wants, whether to sell the info or use it to make purchases himself.
In the next article in this series we'll go into credit card fraud into more depth.
Michael Russell
Your Independent guide to Credit Cards
Article Source: http://EzineArticles.com/?expert=Michael_Russell
http://EzineArticles.com/?Credit-Card-Fraud---Part-I&id=123783
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