How To Organize for Tax Time
By Sheri McConnell
The words "simple" and "tax time" have probably never been uttered in the same sentence. Well, not until now at least. The key to a stress-free tax season is being organized all year-round. Trying to organize a week before or, even worse, the night before April 15th is setting yourself up for failure.
Why You Should Organize for Tax Time
Organizing for tax time helps you avoid misplacing important receipts and documents. Your stress level will be lower because you won't be rushing around at the last minute trying to get to the tax preparer and/or post office. Being organized for tax time also helps you save money because you are more likely to keep track of deductions if you have a system and you won't be charged a higher fee for having your tax preparer go through your piles of receipts.
How and What To Organize for Tax Time
The only way to organize any object is to assign a home to it. Designate a filing cabinet or storage bin made to hold hanging folders for your year-round paper storage. Create folders for receipts, credit card and bank statements, etc. You will make a folder for anything you spend money on and need to keep track of for tax purposes. Have a filing schedule. I usually take one day a month to pay the monthly bills for my three businesses and to do all my filing. During the month, I put all my documents into one of two places until my filing day. This keeps everything organized with very little effort. I have one folder designated for current bills to be paid and then a lateral shelving unit that I stick everything else in for all three businesses and for my personal documents. No matter what, no less than once a month, I file everything from the shelving unit into my filing cabinet in the appropriate folder.
Now, where do we file our papers? Each year, you should designate a large accordion envelope or section of your filing cabinet to your tax papers. Some of the tax papers you will be filing will include your W2s, 1099s, mortgage interest statements, bank interest statements, real estate tax statements, investments statements, and receipts for charitable donations. Most of the papers/receipts you will file will fall into the following categories: salary, real estate, medical, childcare, and investments.
How Long Should I Keep My Financial Records
First of all, make it a habit to throw away as much as you can that you don't need to keep like the envelopes that come with your statements, your ATM slips after they have been recorded in your check register, credit-card slips (don't forget to shred them if they show your credit card number), utility, phone, and cable bills after you have paid them.
Now, on to the documents you should hang on to. Hang on to all monthly statements of financial accounts (bank, investment, etc.) one year until you reconcile them with the year-end statements. Hang on to federal and state income tax returns and related receipts and statements for at least three years. One investment company recommends keeping all tax returns and related information for six years if there is a possibility you may have under-reported your income by 25% or more. When it comes to business equipment or home improvements, you keep those records as long as you have the item (printer, house, etc.).
Simple Tax Time
Everyone has a different financial situation and these tips are offered as guidelines to simplify tax time. Being organized at tax time and year-round should allow you to lead a calmer life and to have greater control of something that you can, and should, plan for. I hope a few of these tips helped and that you have a stress-free tax season as we head into the next year.
Sheri McConnell is the President of the National Association of Women Writers (http://www.NAWW.org). She helps women writers and entrepreneurs discover, create, and profit from their intellectual knowledge! Free reports for writers available with subscription to NAWW Weekly. Sheri lives in San Antonio, Texas with her husband Seth and their four children. Contact her at naww@onebox.com or her toll free number at 866-821-5829.
Article Source: http://EzineArticles.com/?expert=Sheri_McConnell
http://EzineArticles.com/?How-To-Organize-for-Tax-Time&id=250277
The words "simple" and "tax time" have probably never been uttered in the same sentence. Well, not until now at least. The key to a stress-free tax season is being organized all year-round. Learn how you can relieve tax-time stress by using these simple organizing techniques.
Monday, May 14, 2007
Saturday, May 12, 2007
Credit Card Machines 802 Online
Credit Card Processing Accessories
By Kent Pinkerton
Credit card processing accessories include a magnetic stripe reader, a keypad to enter prices and other information, and a small display. The printer can be either built-in or a separate unit. Traditional credit card terminals have different types of displays. Larger displays allow you see more information at once. Displays are usually measured in lines and columns. An 8 x 20 display has 8 lines of text in 20 columns. Backlit display is a standard feature in most new terminals. It lets you to see the terminal even in low light.
Keypads vary in size and number of keys. Larger keypads are very easy to use. There are many types of printers including dot matrix receipt printers, thermal receipt printers, and inkjet receipt printers. Credit card processing terminals are available with integrated fast thermal printer with automatic feeding system. Some of them have four users programmable function soft keys which help better interaction and built-in fast printer.
Credit card processing terminals are compact machines. Accessories such as integrated smart card readers, plug-in battery charger, and power cords are essential components. For virtual credit card terminals, phone or fax, software, computer, and internet connections are necessary. A credit card processing terminal that has a PIN pad can accept debit cards. Card reader cleaners and surge protectors are other credit card processing accessories. Printer paper, ribbons and ink cartridges, mounts and stackers, manual imprinters and imprinter slips, power packs, and cables are also indispensable credit card processing accessories.
There are a number of manufacturers who provide credit card processing accessories. They supply customers various quality solutions to suit their growing needs. Most of them are warranted against defects in material and workmanship for a period of years from the date of shipment.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Credit-Card-Processing-Accessories&id=353176
By Kent Pinkerton
Credit card processing accessories include a magnetic stripe reader, a keypad to enter prices and other information, and a small display. The printer can be either built-in or a separate unit. Traditional credit card terminals have different types of displays. Larger displays allow you see more information at once. Displays are usually measured in lines and columns. An 8 x 20 display has 8 lines of text in 20 columns. Backlit display is a standard feature in most new terminals. It lets you to see the terminal even in low light.
Keypads vary in size and number of keys. Larger keypads are very easy to use. There are many types of printers including dot matrix receipt printers, thermal receipt printers, and inkjet receipt printers. Credit card processing terminals are available with integrated fast thermal printer with automatic feeding system. Some of them have four users programmable function soft keys which help better interaction and built-in fast printer.
Credit card processing terminals are compact machines. Accessories such as integrated smart card readers, plug-in battery charger, and power cords are essential components. For virtual credit card terminals, phone or fax, software, computer, and internet connections are necessary. A credit card processing terminal that has a PIN pad can accept debit cards. Card reader cleaners and surge protectors are other credit card processing accessories. Printer paper, ribbons and ink cartridges, mounts and stackers, manual imprinters and imprinter slips, power packs, and cables are also indispensable credit card processing accessories.
There are a number of manufacturers who provide credit card processing accessories. They supply customers various quality solutions to suit their growing needs. Most of them are warranted against defects in material and workmanship for a period of years from the date of shipment.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Credit-Card-Processing-Accessories&id=353176
Friday, May 11, 2007
Credit Card Machines 802 Online
Credit Card Processing Terminals
By Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales.
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/?Credit-Card-Processing-Terminals&id=353153
By Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales.
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/?Credit-Card-Processing-Terminals&id=353153
Thursday, May 10, 2007
Credit Card Machines 802 Online
Steps to Getting an Online Merchant Account
By Chris Rempel
For all those who have recently begun a business, the words merchant account, merchant account provider, credit card machine, online payment processing, etc will pop up sooner or later. The Internet is brimming with advice on this subject and you are certain to see the comparison between merchant accounts and other payment methods.
This article will explain the basics of what's truly involved in taking credit cards and the required steps to getting a merchant account - online, offline or otherwise...
What is an Online Merchant Account?
A merchant account is an account obtained from a reputable financial institution like a bank through which you are allowed to accept credit card payments.
The merchant account can also be acquired from specialized financial institutions called "merchant account providers". These financial institutions work with banks to supply unique features that would not be available otherwise.
As soon as you are able to accept payments via credit card, you will see an instant increase in sales, simply because there is now a more expedient payment option for your clients. Since many customer these days prefer to pay with plastic, sales transactions are quicker, and there's decreased risk and less "work" in terms of parting customers and their money.
There are various advantages that can greatly increase your profits once you open your own merchant account: (i) customers will impulse buy more readily, (ii) real time transaction processing, (iii) the resulting flexibility attracts additional customers to finish sales without holdup, and so on. Shortly, you will discover that your business profits (and word of mouth marketing) will will begin improving - simply by being able to accept credit cards - and service more clients...
To set up a merchant account, some things need to take place: The bank or financial institution will conduct a basic investigation into your business' credentials. They will look into your credit history, your business plan, your organization's financial stability (whether you can pay the fees - fixed and per transaction - imposed by the merchant account, etc). After the bank and/or financial institution is confident that the business is able to sustain a merchant account, they will establish the ability of your company to take payments by credit card.
This is the reason any company who owns a merchant account is more trustworthy to a customer. It is well known by consumers that the company who has a merchant account has undergone the rudimentary inspections required by a bank or financial institution and were deemed acceptable. It's similar to having a "stamp of approval", other than the fact that it simplifies the sale on various levels.
You need to be conscious that the majority of merchant accounts require minimum monthly fees to be paid that will be charged regardless of whether you process sales or not that generated fees that month. It's advisable to analyze the fees and features of several merchant accounts providers prior to deciding which one you will choose. And no matter what you do, be certain to read all of the terms and conditions of each potential merchant provider prior to signing on the dotted line...
Another benefit that comes with a merchant account is a comprehensive monthly statement of transactions. This statement will provide you with the credit card number of your customers. This will make it simple for you to match charge-backs or returns, and it will give you precise monthly and yearly sales figures and reports. (Hopefully, you won't be getting any charge-backs...)
Other than the fact that - assisted by the right merchant account - you are able to obtain superior service at the lowest possible costs (the profits skyrocket after your sales volume increases), you can also simplify and automate your company when you're selling online.
And that's what's called working smarter, not "harder". Being able to accept credit cards - and knowing the steps to getting a merchant account - makes it so much easier to see a real level of success with your business...
Chris Rempel, marketing director of Accept by Phone, recently started a "Lens" on the Squidoo Network about merchant account credit card processing.
Check it out here: Merchant Account Credit Card Processing
Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Steps-to-Getting-an-Online-Merchant-Account&id=419127
By Chris Rempel
For all those who have recently begun a business, the words merchant account, merchant account provider, credit card machine, online payment processing, etc will pop up sooner or later. The Internet is brimming with advice on this subject and you are certain to see the comparison between merchant accounts and other payment methods.
This article will explain the basics of what's truly involved in taking credit cards and the required steps to getting a merchant account - online, offline or otherwise...
What is an Online Merchant Account?
A merchant account is an account obtained from a reputable financial institution like a bank through which you are allowed to accept credit card payments.
The merchant account can also be acquired from specialized financial institutions called "merchant account providers". These financial institutions work with banks to supply unique features that would not be available otherwise.
As soon as you are able to accept payments via credit card, you will see an instant increase in sales, simply because there is now a more expedient payment option for your clients. Since many customer these days prefer to pay with plastic, sales transactions are quicker, and there's decreased risk and less "work" in terms of parting customers and their money.
There are various advantages that can greatly increase your profits once you open your own merchant account: (i) customers will impulse buy more readily, (ii) real time transaction processing, (iii) the resulting flexibility attracts additional customers to finish sales without holdup, and so on. Shortly, you will discover that your business profits (and word of mouth marketing) will will begin improving - simply by being able to accept credit cards - and service more clients...
To set up a merchant account, some things need to take place: The bank or financial institution will conduct a basic investigation into your business' credentials. They will look into your credit history, your business plan, your organization's financial stability (whether you can pay the fees - fixed and per transaction - imposed by the merchant account, etc). After the bank and/or financial institution is confident that the business is able to sustain a merchant account, they will establish the ability of your company to take payments by credit card.
This is the reason any company who owns a merchant account is more trustworthy to a customer. It is well known by consumers that the company who has a merchant account has undergone the rudimentary inspections required by a bank or financial institution and were deemed acceptable. It's similar to having a "stamp of approval", other than the fact that it simplifies the sale on various levels.
You need to be conscious that the majority of merchant accounts require minimum monthly fees to be paid that will be charged regardless of whether you process sales or not that generated fees that month. It's advisable to analyze the fees and features of several merchant accounts providers prior to deciding which one you will choose. And no matter what you do, be certain to read all of the terms and conditions of each potential merchant provider prior to signing on the dotted line...
Another benefit that comes with a merchant account is a comprehensive monthly statement of transactions. This statement will provide you with the credit card number of your customers. This will make it simple for you to match charge-backs or returns, and it will give you precise monthly and yearly sales figures and reports. (Hopefully, you won't be getting any charge-backs...)
Other than the fact that - assisted by the right merchant account - you are able to obtain superior service at the lowest possible costs (the profits skyrocket after your sales volume increases), you can also simplify and automate your company when you're selling online.
And that's what's called working smarter, not "harder". Being able to accept credit cards - and knowing the steps to getting a merchant account - makes it so much easier to see a real level of success with your business...
Chris Rempel, marketing director of Accept by Phone, recently started a "Lens" on the Squidoo Network about merchant account credit card processing.
Check it out here: Merchant Account Credit Card Processing
Article Source: http://EzineArticles.com/?expert=Chris_Rempel
http://EzineArticles.com/?Steps-to-Getting-an-Online-Merchant-Account&id=419127
Wednesday, May 9, 2007
Credit Card Machines 802 Online
Credit Card Processing Machines by Jack Chevalier
From : usamerchantsolutions.com.
Every credit card terminal has different functions and capabilities, but all of them take some investigation for your needs and price expectations. The following is a list of different options available when considering credit card machines:
IPP or Internal PIN Pad: This comes with several different models and although a nice option, you should consider the fact that this terminal is passed back and fourth between the cashier and customer. Smartcard: Another great option automatically available on some terminals, but will you utilize this option? Smartcard is used for gift and loyalty cards and unless your business is going to utilize this option, you might want to consider a less expensive terminal.
Touch Screen: This option is more for the ease of use for the cashier, but usually gives you signature capture. Signature Capture allows your customers to sign the terminal screen instead of the receipt.
Wireless Capabilities: This allows you to accept Credit Cards through a wireless or cellular connection. Most of the time this is great for merchants who are making sales away from the office, but this can be limited by the cellular service in that particular area.
RS-232 Ports: This gives you the opportunity to attach other devices to your terminal such as a check imager or check reader.
PIN Pad Port: Allows you to add an external PIN pad to your existing credit card machine.
Now there is no set rules for what type of equipment to buy or what type of equipment your processor can support, so it's up to you, the merchant, to investigate what your best options are. Just remember, if you have any questions about equipment call your processor.
About the Author
None
From : usamerchantsolutions.com.
Every credit card terminal has different functions and capabilities, but all of them take some investigation for your needs and price expectations. The following is a list of different options available when considering credit card machines:
IPP or Internal PIN Pad: This comes with several different models and although a nice option, you should consider the fact that this terminal is passed back and fourth between the cashier and customer. Smartcard: Another great option automatically available on some terminals, but will you utilize this option? Smartcard is used for gift and loyalty cards and unless your business is going to utilize this option, you might want to consider a less expensive terminal.
Touch Screen: This option is more for the ease of use for the cashier, but usually gives you signature capture. Signature Capture allows your customers to sign the terminal screen instead of the receipt.
Wireless Capabilities: This allows you to accept Credit Cards through a wireless or cellular connection. Most of the time this is great for merchants who are making sales away from the office, but this can be limited by the cellular service in that particular area.
RS-232 Ports: This gives you the opportunity to attach other devices to your terminal such as a check imager or check reader.
PIN Pad Port: Allows you to add an external PIN pad to your existing credit card machine.
Now there is no set rules for what type of equipment to buy or what type of equipment your processor can support, so it's up to you, the merchant, to investigate what your best options are. Just remember, if you have any questions about equipment call your processor.
About the Author
None
Tuesday, May 8, 2007
Credit Card Machines 802 Online
Understanding Online Payments by Robert Levings
UNDERSTANDING ONLINE PAYMENTS By Robert Levings, President, EasyPay123
Internet Payment Options
There has been much talk about how the Internet is becoming an important channel for buying and selling products and services. Companies are looking to exploit the Internet in a variety of ways to increase sales to both existing customers and to customers in new markets.
To make these initiatives work in practice requires the application of a range of technologies, from servers to software. An increasingly-critical piece of the e-commerce equation is the ability to pay for goods and services using Internet-based applications.
Internet-based payments offer the benefit of convenience to customers who can pay for their products or services and receive immediate feedback on the status of their payment. Well thought-out payment interfaces will address the payment needs of the bulk of your customers, and offer them valuable features such as electronic receipts, recurring billing options and more. For merchants, online payments can mean that bad debts are reduced and cash flow is improved, improving the bottom line of your business.
The type of payment that you choose will be dependent on your customers' needs and the type of business that you operate.
E-Commerce Payment Types
Many types of payments can be used in online transactions (here we refer to those transactions that use the Internet as the communications channel). The major types include:
EFT: Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands. It provides a means of transferring funds to and from customers and business partners. Electronic cheques: Different types of electronic cheque services are available, but all essentially provide a mechanism for paying over the Internet by enabling purchasers to use their existing chequing accounts to transfer funds to another party. A secure infrastructure ensures that confidential information is not compromised in transit.
Debit cards: Wildly popular for "bricks and mortar" purchases, they have not caught on as a mechanism for Internet purchases because the banks and payment processors have only certified a limited number of devices for transmitting the PIN Number associated with a debit card over the internet. Limited pilots are underway using wireless debit card devices for applications such as pizza deliveries and taxis.
Credit cards: Still the dominant online payment type, it is popular because of its ubiquity and the familiarity that customers have in using them in a variety of settings.
Internet banking: Some businesses (typically large ones such as telephone companies) enable customers to transfer funds from their bank account to pay bills. Online bill payments are usually facilitated by the major banks where you can log on and pay your bills at your convenience.
Alternative payment types: A large number of niche payment types have arisen over the past few years (typically with minimal or no success). These include stored value cards, Internet (digital) cash, pseudo-currencies (e.g. Flooz) and others. No doubt at some point one or more of these payment types will gain a foothold, but none have sufficient critical mass at this time to be a viable alternative for most merchants.
For the purposes of the rest of this article, we will focus on credit card payments, which represent a substantial amount (95%+) of the payments being processed over the Internet today.
Getting Started with Credit Card Processing
If you are a merchant that is looking to accept credit card payments, there are a few steps that you should follow to ensure a successful implementation. None of them are difficult, but some can take time to complete. It is recommended that you follow each of the steps in sequence to avoid compatibility issues between your application and the financial network.
Let's examine each step in order:
1. Determine the Right Payment Interface
The payment interface is the application that you are going to use to process credit card payments. There are many options available to you, and the right choice will be dictated by the type of business you have and the requirements of your customers. Some of the more popular interface options include:
Shopping cart _______
Useful When …Your customers may be purchasing multiple items from you in a single purchase Make Sure That … You understand the features that you need and that you purchase from a reputable vendor ________
A shopping cart enables merchants to accept payment for multiple items in a single transaction. Most online retailers that offer a variety of products use some type of shopping cart application. Shopping carts typically provide customers with a number of convenient features, such as an electronic "shopping basket" to "hold" their goods until purchase.
Shopping carts offer a wide range of possible advantages to merchants as well, such as automated shipping and tax calculation; "back-office" tools for payment and inventory management; reporting tools; coupons and discount functions and control over individual and store-wide sales.
Shopping cart software can be purchased and "hosted" by the merchant on a server of their choice, but most merchants choose to use the services of a shopping cart service provider. Costs typically include set-up fees and monthly fees, in addition to your payment gateway fees. Many shopping cart providers offer different levels of feature packages, with fees based on the chosen feature level. Before you invest in a shopping cart application, understand what features are important to you and to your customers. Make sure that the service provider is reputable and is going to be around for a while. Switching service providers can be expensive, time consuming and frustrating. Your research will pay off in the long run.
"Buy Button" ___________
Useful When … You only have a few products to sell or your customers only purchase one product or service at a time Make Sure That … The customer buying experience is "seamless" and secure ___________
A "buy button" is similar to a shopping cart, but typically facilitates the purchase of only one product (or service). It generally consists of simple html code that you insert into your site that displays an order form with associated product information. Customers click on the buy button, and an order form appears with the relevant order information in it. Customers enter their shipping and credit card information in the form, press "submit", and their order is processed.
Be aware that some buy button applications force customers to be "transported" to another page that has a different look and feel from your site. Some customers are uncomfortable with this, and may abandon the sale if this happens. Again, shop around. Talk to your payment gateway provider. It will pay off.
Virtual Point of Sale (VPOS) ___________
Useful When … You are processing payments that are coming in by phone, fax or email Make Sure That … You have a mechanism to reconcile VPOS payments to bank deposits ___________
A virtual point of sale application (VPOS) is a replacement for traditional hardware-based POS terminals that you may be familiar with at restaurants, bars and other places where credit cards are accepted. The application is either installed on your PC, or is accessed through a secure web connection (much like an online order form). VPOS lets you authorize, settle, credit and delete transactions, and may perform other functions such as reporting.
VPOS is used by businesses that want to process payments that arrive by phone, fax or email, such as call centres and mail order businesses.
Wireless ___________
Useful When …You are processing payments in remote locations (e.g. pizza delivery, flea markets, etc.) Make Sure That … Your data transmission is secure. The wireless connection should be digital to protect data. ___________
Many wireless devices are emerging now to satisfy the needs of mobile workers. Digital cell phones, Personal Digital Assistants (PDA's, such as Palm Pilots) and specialized hardware can now be used as mobile payment devices. With a "WAP-enabled" cell phone or browser-based PDA, you can enter the basic information required to process a transaction.
Wireless payment processing is useful in situations where traditional or PC-based point of sale devices cannot be used.
Swipe Card ___________
Useful When …The customer is present and when you need to give the customer a signed receipt for their payment Make Sure That … Your merchant account is configured to take advantage of the lower discount rate (i.e. credit card fee) ___________
Swipe card applications are ones where the credit card can be "swiped" through a card reader, and the customer can sign the receipt. The swipe device can typically be connected to a PC, or specialized devices are available for use (such as traditional POS terminals).
The merchant account fees for swiped ("card present") transactions are lower than "card not present" transactions.
2. Get a merchant account
A merchant account gives merchants the right to accept credit cards for payment. A merchant account is required for each credit card you wish to accept. This step can be the most time-consuming and frustrating for merchants, and it will also be the component that most influences your costs of doing business online. Researching your merchant account options, understanding the merchant account process, knowing how merchant account providers assess merchants, and "shopping around", will pay off dramatically.
Merchant accounts have several fees associated with them, including a set-up fee ($200-$500), monthly statement fees ($5-$10), a monthly minimum fee ($20-$30) and a discount rate. The discount rate is a percentage of your sales revenue that the banks levy, and it varies by how "risky" your business is perceived to be (many factors enter into this, such as your credit history, the type of products you sell, your sales volume, average order size, etc.).
When enquiring about merchant accounts, start with your bank first. Then shop around. Fees vary significantly from institution to institution. In fact, they sometimes vary within an institution, depending upon the merchant account representative you speak with. Depending upon your sales volume, shopping around can save you a lot of money over time.
If you wish, EasyPay123 has relationships with several merchant account providers, some of which have online applications that are available online on EasyPay123's website. We'd also be happy to advise as you work through the process of obtaining a merchant account.
For more information, see EasyPay123's article entitled "Getting a Merchant Account" available by sending us a request through our online contact form at www.easypay123.com.
3. Select a payment gateway
The payment gateway is the service that connects your payment interface to the financial network. Gateways take the payment information from the application, ensure that the data is valid, format it appropriately, and send it on to the financial network for authorization, settlement, etc. Gateways typically also offer advanced features such as reporting and transaction management.
When you select a gateway, make sure that they can connect to your interface of choice (some gateways may also offer their own payment applications that you can take advantage of). Also make sure that they can connect to your merchant bank (so that funds can be deposited to your account). Finally, determine what other features you are looking for in a payment gateway, such as recurring payments, ability to process in multiple currencies, email notification of orders, fraud screening, etc. Shop around and ask lots of questions. Once you connect to a specific gateway, switching can be expensive and time consuming.
4. Payment-enable your application
Once your gateway has been selected, someone needs to connect it to your payment interface and customize it to meet your needs (if it is customizable). This is typically the job of your developer. Make sure that the developer has done this kind of work before, and will be around if you need changes in the future. Be explicit about your requirements and document them so that they are unambiguous.
5. Test and Launch
Since it's your money that is being processed, be meticulous about testing the application. Use a real credit card (for each credit card type your are accepting) and process a small transaction (e.g. $1.00) to make sure that the payment is authorized properly and that it settles to your bank account. Once you launch, problems are difficult to fix without affecting your customers.
Summary
Offering convenient payment options to your customers is a good way to secure their loyalty and reduce your operational costs. A variety of payment methods are available, and various interfaces can be used depending upon the needs of your customers and your business. When evaluating payment processing options start with your customers' needs and document all of the features that you wish to have in your payment solution. Take the time to shop around, and make sure that the service providers that you choose are ones that you will be happy with in the long run.
About EasyPay123
EasyPay123 is a leading supplier of payment processing solutions to businesses across North America. Offering world-class solutions at affordable prices, EasyPay123 helps merchants simplify the process of acquiring, launching and using payment applications to improve the way they do business. Visit us at www.EasyPay123.com.
For a description of some of the e-commerce terms used in this article, please visit our online glossary at www.EasyPay123.com.
© 2003 EasyPay123 All Rights Reserved. This article may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit written permission from EasyPay123.
About the Author
Robert Levings is President of EasyPay123, a leading provider of online payment solutions to companies across North America.
UNDERSTANDING ONLINE PAYMENTS By Robert Levings, President, EasyPay123
Internet Payment Options
There has been much talk about how the Internet is becoming an important channel for buying and selling products and services. Companies are looking to exploit the Internet in a variety of ways to increase sales to both existing customers and to customers in new markets.
To make these initiatives work in practice requires the application of a range of technologies, from servers to software. An increasingly-critical piece of the e-commerce equation is the ability to pay for goods and services using Internet-based applications.
Internet-based payments offer the benefit of convenience to customers who can pay for their products or services and receive immediate feedback on the status of their payment. Well thought-out payment interfaces will address the payment needs of the bulk of your customers, and offer them valuable features such as electronic receipts, recurring billing options and more. For merchants, online payments can mean that bad debts are reduced and cash flow is improved, improving the bottom line of your business.
The type of payment that you choose will be dependent on your customers' needs and the type of business that you operate.
E-Commerce Payment Types
Many types of payments can be used in online transactions (here we refer to those transactions that use the Internet as the communications channel). The major types include:
EFT: Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands. It provides a means of transferring funds to and from customers and business partners. Electronic cheques: Different types of electronic cheque services are available, but all essentially provide a mechanism for paying over the Internet by enabling purchasers to use their existing chequing accounts to transfer funds to another party. A secure infrastructure ensures that confidential information is not compromised in transit.
Debit cards: Wildly popular for "bricks and mortar" purchases, they have not caught on as a mechanism for Internet purchases because the banks and payment processors have only certified a limited number of devices for transmitting the PIN Number associated with a debit card over the internet. Limited pilots are underway using wireless debit card devices for applications such as pizza deliveries and taxis.
Credit cards: Still the dominant online payment type, it is popular because of its ubiquity and the familiarity that customers have in using them in a variety of settings.
Internet banking: Some businesses (typically large ones such as telephone companies) enable customers to transfer funds from their bank account to pay bills. Online bill payments are usually facilitated by the major banks where you can log on and pay your bills at your convenience.
Alternative payment types: A large number of niche payment types have arisen over the past few years (typically with minimal or no success). These include stored value cards, Internet (digital) cash, pseudo-currencies (e.g. Flooz) and others. No doubt at some point one or more of these payment types will gain a foothold, but none have sufficient critical mass at this time to be a viable alternative for most merchants.
For the purposes of the rest of this article, we will focus on credit card payments, which represent a substantial amount (95%+) of the payments being processed over the Internet today.
Getting Started with Credit Card Processing
If you are a merchant that is looking to accept credit card payments, there are a few steps that you should follow to ensure a successful implementation. None of them are difficult, but some can take time to complete. It is recommended that you follow each of the steps in sequence to avoid compatibility issues between your application and the financial network.
Let's examine each step in order:
1. Determine the Right Payment Interface
The payment interface is the application that you are going to use to process credit card payments. There are many options available to you, and the right choice will be dictated by the type of business you have and the requirements of your customers. Some of the more popular interface options include:
Shopping cart _______
Useful When …Your customers may be purchasing multiple items from you in a single purchase Make Sure That … You understand the features that you need and that you purchase from a reputable vendor ________
A shopping cart enables merchants to accept payment for multiple items in a single transaction. Most online retailers that offer a variety of products use some type of shopping cart application. Shopping carts typically provide customers with a number of convenient features, such as an electronic "shopping basket" to "hold" their goods until purchase.
Shopping carts offer a wide range of possible advantages to merchants as well, such as automated shipping and tax calculation; "back-office" tools for payment and inventory management; reporting tools; coupons and discount functions and control over individual and store-wide sales.
Shopping cart software can be purchased and "hosted" by the merchant on a server of their choice, but most merchants choose to use the services of a shopping cart service provider. Costs typically include set-up fees and monthly fees, in addition to your payment gateway fees. Many shopping cart providers offer different levels of feature packages, with fees based on the chosen feature level. Before you invest in a shopping cart application, understand what features are important to you and to your customers. Make sure that the service provider is reputable and is going to be around for a while. Switching service providers can be expensive, time consuming and frustrating. Your research will pay off in the long run.
"Buy Button" ___________
Useful When … You only have a few products to sell or your customers only purchase one product or service at a time Make Sure That … The customer buying experience is "seamless" and secure ___________
A "buy button" is similar to a shopping cart, but typically facilitates the purchase of only one product (or service). It generally consists of simple html code that you insert into your site that displays an order form with associated product information. Customers click on the buy button, and an order form appears with the relevant order information in it. Customers enter their shipping and credit card information in the form, press "submit", and their order is processed.
Be aware that some buy button applications force customers to be "transported" to another page that has a different look and feel from your site. Some customers are uncomfortable with this, and may abandon the sale if this happens. Again, shop around. Talk to your payment gateway provider. It will pay off.
Virtual Point of Sale (VPOS) ___________
Useful When … You are processing payments that are coming in by phone, fax or email Make Sure That … You have a mechanism to reconcile VPOS payments to bank deposits ___________
A virtual point of sale application (VPOS) is a replacement for traditional hardware-based POS terminals that you may be familiar with at restaurants, bars and other places where credit cards are accepted. The application is either installed on your PC, or is accessed through a secure web connection (much like an online order form). VPOS lets you authorize, settle, credit and delete transactions, and may perform other functions such as reporting.
VPOS is used by businesses that want to process payments that arrive by phone, fax or email, such as call centres and mail order businesses.
Wireless ___________
Useful When …You are processing payments in remote locations (e.g. pizza delivery, flea markets, etc.) Make Sure That … Your data transmission is secure. The wireless connection should be digital to protect data. ___________
Many wireless devices are emerging now to satisfy the needs of mobile workers. Digital cell phones, Personal Digital Assistants (PDA's, such as Palm Pilots) and specialized hardware can now be used as mobile payment devices. With a "WAP-enabled" cell phone or browser-based PDA, you can enter the basic information required to process a transaction.
Wireless payment processing is useful in situations where traditional or PC-based point of sale devices cannot be used.
Swipe Card ___________
Useful When …The customer is present and when you need to give the customer a signed receipt for their payment Make Sure That … Your merchant account is configured to take advantage of the lower discount rate (i.e. credit card fee) ___________
Swipe card applications are ones where the credit card can be "swiped" through a card reader, and the customer can sign the receipt. The swipe device can typically be connected to a PC, or specialized devices are available for use (such as traditional POS terminals).
The merchant account fees for swiped ("card present") transactions are lower than "card not present" transactions.
2. Get a merchant account
A merchant account gives merchants the right to accept credit cards for payment. A merchant account is required for each credit card you wish to accept. This step can be the most time-consuming and frustrating for merchants, and it will also be the component that most influences your costs of doing business online. Researching your merchant account options, understanding the merchant account process, knowing how merchant account providers assess merchants, and "shopping around", will pay off dramatically.
Merchant accounts have several fees associated with them, including a set-up fee ($200-$500), monthly statement fees ($5-$10), a monthly minimum fee ($20-$30) and a discount rate. The discount rate is a percentage of your sales revenue that the banks levy, and it varies by how "risky" your business is perceived to be (many factors enter into this, such as your credit history, the type of products you sell, your sales volume, average order size, etc.).
When enquiring about merchant accounts, start with your bank first. Then shop around. Fees vary significantly from institution to institution. In fact, they sometimes vary within an institution, depending upon the merchant account representative you speak with. Depending upon your sales volume, shopping around can save you a lot of money over time.
If you wish, EasyPay123 has relationships with several merchant account providers, some of which have online applications that are available online on EasyPay123's website. We'd also be happy to advise as you work through the process of obtaining a merchant account.
For more information, see EasyPay123's article entitled "Getting a Merchant Account" available by sending us a request through our online contact form at www.easypay123.com.
3. Select a payment gateway
The payment gateway is the service that connects your payment interface to the financial network. Gateways take the payment information from the application, ensure that the data is valid, format it appropriately, and send it on to the financial network for authorization, settlement, etc. Gateways typically also offer advanced features such as reporting and transaction management.
When you select a gateway, make sure that they can connect to your interface of choice (some gateways may also offer their own payment applications that you can take advantage of). Also make sure that they can connect to your merchant bank (so that funds can be deposited to your account). Finally, determine what other features you are looking for in a payment gateway, such as recurring payments, ability to process in multiple currencies, email notification of orders, fraud screening, etc. Shop around and ask lots of questions. Once you connect to a specific gateway, switching can be expensive and time consuming.
4. Payment-enable your application
Once your gateway has been selected, someone needs to connect it to your payment interface and customize it to meet your needs (if it is customizable). This is typically the job of your developer. Make sure that the developer has done this kind of work before, and will be around if you need changes in the future. Be explicit about your requirements and document them so that they are unambiguous.
5. Test and Launch
Since it's your money that is being processed, be meticulous about testing the application. Use a real credit card (for each credit card type your are accepting) and process a small transaction (e.g. $1.00) to make sure that the payment is authorized properly and that it settles to your bank account. Once you launch, problems are difficult to fix without affecting your customers.
Summary
Offering convenient payment options to your customers is a good way to secure their loyalty and reduce your operational costs. A variety of payment methods are available, and various interfaces can be used depending upon the needs of your customers and your business. When evaluating payment processing options start with your customers' needs and document all of the features that you wish to have in your payment solution. Take the time to shop around, and make sure that the service providers that you choose are ones that you will be happy with in the long run.
About EasyPay123
EasyPay123 is a leading supplier of payment processing solutions to businesses across North America. Offering world-class solutions at affordable prices, EasyPay123 helps merchants simplify the process of acquiring, launching and using payment applications to improve the way they do business. Visit us at www.EasyPay123.com.
For a description of some of the e-commerce terms used in this article, please visit our online glossary at www.EasyPay123.com.
© 2003 EasyPay123 All Rights Reserved. This article may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit written permission from EasyPay123.
About the Author
Robert Levings is President of EasyPay123, a leading provider of online payment solutions to companies across North America.
Thursday, May 3, 2007
Credit Card Machines 802 Online
Low Cost Credit Card Processing
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
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/?Low-Cost-Credit-Card-Processing&id=353157
By Thomas Morva
Low cost and efficient credit card processing is very important to the success of any online or offline business. Low cost credit card processing involves a cheaper means to accept credit card numbers, apply them to the merchant's account, and obtain payment from the creditor for the amount. A business?s success or failure depends on whether or not it accepts credit card orders.
Low cost credit card processing is indispensable to raise the profitability of your business. Many people waste considerable amounts of money on extravagant processing. Often, processing statements are so difficult to read that it is virtually impossible to estimate how much money you are actually paying. Low cost credit card processing helps you run a more successful business operation.
In the United States, the cost of credit card processing is about $10 to $20 (per month) in flat fees, plus a small percentage of your sales, known as a discount rate. The discount rate is as low as 1.69% for an offline business, while discount rate for mail order and online merchants is about 2.19%. Using a low cost credit card processing technique, the transaction fee averages only about 25 cents for all merchants.
Low cost credit card processing falls into three types. The first is using a virtual terminal that allows manual addition of mail. The second employs a simple integration technique that connects your website directly to the credit card and bank system. The third type uses an advanced mechanism for custom-linking your system to other more composite systems using a transaction gateway server.
Lots of card processing companies offer you reliable, low cost and comprehensive credit card processing. A reliable low cost credit card processing service uses modern encryption technology to ensure security.
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/?Low-Cost-Credit-Card-Processing&id=353157
Wednesday, May 2, 2007
Credit Card Machines 802 Online
Requirement of a Credit Card Processing Service in Business
By Michael Braganza
Today more and more people are using the Internet and the number of older users is increasing fast. The internet is becoming an important source of news and information. With the popularity and widespread usage of Internet, the popularity of ecommerce business is also spreading like a wildfire.
To get by any ecommerce business or online business or set up retail storefront successfully, Internet credit card processing service plays a very important role. If your ecommerce business is still not laced with Online Merchant Account or credit card merchant services, consider getting one without wasting any more precious seconds. Only then you will conduct online ecommerce business successfully. Because Internet credit card processing service is the best way to process clients’ payment online.
First of all we discuss about what online merchant credit card services are and how It work? An online merchant credit card services is a service that facilitates you to make payments or accept payments online for you. Online credit card merchant services work through online merchant account that is provided by a bank. These services allow you to make or receive credit card payments through Internet. Being laced with merchant Solutions services can be extremely beneficial and fruitful to your ecommerce business because it allows your visitors and customers to easily make payments.
Now we discuss about what Internet credit card processing is? It is a process of getting the authorization of a credit purchase when ordering online. Generally Internet credit card processing requires three components – a payment gateway, an online merchant account and a credit card processing company. On the type of online merchant account it may also require various equipments such as; credit card machines, computers, hypercom terminal, pin pad and related software.
Now we describe in brief about merchant credit card services provider and choosing a reliable service provider. There are a number of merchant credit card services providers in the market. But you ought to take precautions before selecting one of them. Accepting credit cards can be risky and can you make suffering with paying high priced services on Credit card receivables terminal that your business does not in need of, and force to pay high monthly fees if precautions are not observed in choosing a reliable Internet credit card processing services provider.
A reliable Internet credit card payment processing service provider that is versatile in nature can assist your ecommerce businesses in increasing their sales. It offers security protection by using modern technology and assures you and your clients to be tension free for the duration of the transaction and when the credit card information is being processed. By hiring a good service provider you can accept all forms of payments and accept credit card anywhere and anytime.
At last we want to say the always go with a good merchant solutions provider and appropriate equipments and related software.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Online Merchant Account Services 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/?Requirement-of-a-Credit-Card-Processing-Service-in-Business&id=519697
By Michael Braganza
Today more and more people are using the Internet and the number of older users is increasing fast. The internet is becoming an important source of news and information. With the popularity and widespread usage of Internet, the popularity of ecommerce business is also spreading like a wildfire.
To get by any ecommerce business or online business or set up retail storefront successfully, Internet credit card processing service plays a very important role. If your ecommerce business is still not laced with Online Merchant Account or credit card merchant services, consider getting one without wasting any more precious seconds. Only then you will conduct online ecommerce business successfully. Because Internet credit card processing service is the best way to process clients’ payment online.
First of all we discuss about what online merchant credit card services are and how It work? An online merchant credit card services is a service that facilitates you to make payments or accept payments online for you. Online credit card merchant services work through online merchant account that is provided by a bank. These services allow you to make or receive credit card payments through Internet. Being laced with merchant Solutions services can be extremely beneficial and fruitful to your ecommerce business because it allows your visitors and customers to easily make payments.
Now we discuss about what Internet credit card processing is? It is a process of getting the authorization of a credit purchase when ordering online. Generally Internet credit card processing requires three components – a payment gateway, an online merchant account and a credit card processing company. On the type of online merchant account it may also require various equipments such as; credit card machines, computers, hypercom terminal, pin pad and related software.
Now we describe in brief about merchant credit card services provider and choosing a reliable service provider. There are a number of merchant credit card services providers in the market. But you ought to take precautions before selecting one of them. Accepting credit cards can be risky and can you make suffering with paying high priced services on Credit card receivables terminal that your business does not in need of, and force to pay high monthly fees if precautions are not observed in choosing a reliable Internet credit card processing services provider.
A reliable Internet credit card payment processing service provider that is versatile in nature can assist your ecommerce businesses in increasing their sales. It offers security protection by using modern technology and assures you and your clients to be tension free for the duration of the transaction and when the credit card information is being processed. By hiring a good service provider you can accept all forms of payments and accept credit card anywhere and anytime.
At last we want to say the always go with a good merchant solutions provider and appropriate equipments and related software.
Michael Braganza is an eminent analyst and writer in Software and Technology related topics. He has authored many books on Technology and Online Merchant Account Services 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/?Requirement-of-a-Credit-Card-Processing-Service-in-Business&id=519697
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