Know the Simple Rules for Picking the Right Merchant Account Provider

Finding quality merchant services provider can be intimidating because the industry is well-known for expensive contracts, unethical agents and unrevealed fees. As you have other pressing business activities to care for, it might be hard for you resist the temptation of going with the firm that quotes the lowest rates. However, do not simply accept the rates.

Prior to selecting your merchant services provider, you need to abide by the following.

# Have a clear idea regarding the needs of your business
You should begin by questioning yourself as to your requirements from a payment processor. The best way is to gather a list of prominent merchant services firms who suit your business needs before making a call regarding contractual considerations.

# Watch out for a month-to-month contract with no termination charge
When you meet with your prospective service provider, make it clear that you expect a monthly agreement without any termination fees. Remember to go through the contract thoroughly before signing. In case of any misinformation in the contract, cancel the service and save yourself from a bad agreement.

# Efficient customer service
Before you commit to a provider, find out if the provider offers customer support not only during working hours, but also beyond. Knowing that assistance is always available will give you peace of mind.

Once you have identified the merchant services provider for your business, you should go through the merchant services reviews given by the users of that company. 

3 Factors To Consider When Selecting An Online Payment Processing Service

Today, small companies depend on credit transactions more than before owing to the increased reliance on prepaid cards and digital wallets. So, if you do not have a credit card payment processing service, you business is seriously falling behind.

An online service seems to be the most appropriate form of credit card payment processing services. Here are the factors to consider when choosing an online payment processing service.

• Price: There are different prices that you will have to consider. To start with, the expenses of starting up, which will include setting up of a merchant account and configuring the processing engine on your website or your physical location. You also need to find out about the payment gateway fees UK charged by the payment processor.
• Security: Theft and fraud occurring online is an everyday issue.  Since theft does not only happen online, but also on PoS based credit information, you need to take special precautions to ensure that you are offering your customers a high level of security, such as data encryption, VeriSign SSL certificates and so on.
• Ease of integration: Integrating card payment processing UK with your site is necessary. The entire process must be easy to understand for your customers.

To get the best rates and reliable services, contact a professional consultant. They will provide you with reviews and information that you require to make an informed decision.

3 Common Types Of Chip And Pin Machines Used By Businesses

Chip and pin or PDQ machines are used by businesses to accept debit and credit card payments. These machines help to securely and quickly process payments and businesses can take payments face to face or by fax, phone or mail.

The majority of businesses use of one of the three types of card machines below.

• Countertop PDQ machine: Businesses that take face to face payments from a fixed location use countertop PDQ machines. These static chip and pin machines are always connected to a power point, as well as, to a broadband router or a phone line. They help to speed up a customers’ payment experience.
• Portable Wi-Fi or Bluetooth terminals: Portable terminals can easily be carried around like a mobile phone. Businesses can use Bluetooth chip and pin terminals within a range of fifty  to hundred metres from the base unit. The Wi-Fi enabled terminals, on the other hand, can be configured to process payments through protected Wi-Fi access. These machines usually have a battery life of 24 hours, which is adequate for most businesses.
• GPRS or mobile card machines: These types of chip and pin terminals accept payments wherever the mobile signal is strong. A GPRS signal with a roaming connection is all that the machine requires to function.

If you want to get a chip and pin machine for your business, talk to a professional to find out which type of machine is the perfect for you and your business. 

The Top 3 Advantages of EPOS Solutions for Your Business

An EPOS system is highly beneficial for small businesses because this integrated system helps in controlling, organising and analysing different parts of your business. From backend reporting to cash transactions and inventory control, this system is able to handle it all. Innovative EPOS for small businesses provides information about best-selling items, best-performing sales channels, peak sales time and more. This way, you will be able to better optimise the flow of your business.

Take a look below for some more benefits of EPOS systems.

• Increased financial accuracy: When charging customers, EPOS systems offer financial accuracy by eliminating the hassle of manual calculations. These systems help to reduce staff errors and make sure that the payment charging structure is consistent. Since they perform such an important function, you must go through EPOS reviews before making your decision.
• Improved efficiency and speed of transaction: The efficiency and speed of transactions are greatly enhanced by the EPOS systems. This also leads to improving the overall experience of your customer and encourages repeat visits.
• Inventory management: The best EPOS solution will also aid in the management of stock. You will be able to quickly check the current inventory and identify easily the areas where additional stock is required. This way, you can save a significant amount of time spent on manual stock operations.

EPOS systems can do wonders for your business. However, get in touch with advisors who can compare EPOS providers and provide you with a detailed analysis.

The Top 3 Benefits of Having an Online Merchant Account

Online shopping is increasingly becoming popular and with it, online payments are also becoming common. Those days are gone when customers preferred to shop using cheques and cash. Whether you run an e-commerce business or a physical store, having online merchant accounts can add great value to your business.

Take a look below at some of the advantages of having an online merchant account. 

1. The ability to accept card payments: With a merchant account, you will be eligible for accepting payments in multiple ways including debit and credit card payments. Customers are more likely to make impulse purchases if there is the option of electronic payment.
2. Enhanced security: When opening your merchant account, you need to work with a merchant account payment gateway provider who is a PCI DSS certified PSP. PCI compliance gives customers the peace of mind that their information is protected and kept secured. Also, PCI DSS makes use of advanced technology to check fraud activities.
3. Payments can be accepted in any currency: One of the major advantages of merchant accounts is that you can accept payments in multiple currencies. You can widen your customer base beyond borders and encourage them to make payments using their local currency.

By having a merchant account, you will be able to better manage your money and cash flow. To make sure that you get the ideal deal at the best rates, get in touch with an independent merchant services consultant.

Pinning Down the Perfect Chip and Pin Terminals for Your Shop!

Now, there are 4 types of these Pretty Damn Quick terminals. In case you are kind of lost right there, that’s what ‘PDQ’ stands for in PDQ terminals. Or you might know them as Chip and Pin terminals.

Let’s not go into how chips and pins came into the name. Question is –

Are you looking to buy a card swiping terminal? 

You are and you’re stuck at making a choice, right? Well, you have a business. You just don’t have a machine to help them in paying up with their cards. So, get one!

Chip and Pin Machines for Sale! 

Type 1: The Basic Instinct
The typical card reader sitting right in front of you with a wire coming out from the back; this is the most affordable choice.
Now, what if there’s a queue? These simple little things with a wire for charging itself do take time. A bit faster, then?

Type 2: Blue Base!
Bluetooth versions are faster. There’s a separate base, and you have 100m range tops. Roam around and cash in!
That said, wired connections do fail quite often. So, this one’s a bit more reliable then?

Type 3: Anywhere You Go
These do remind of the first ever Motorola cell phones but only with their size. No, there’s no antenna but they use your mobile network.
Just make sure, the network signal is strong enough inside your store. They’re faster than the Blue ones, but there’s no point if you don’t get a signal, is there?

Type 4: Zero Contact
Next-gen. No card swiping. Just hover the card on it, and the payment’s made in a few seconds. Nice, right? These are the fastest but not more than £30 though.
Make your own choice. If you’re smart enough to run a whole business, you should get this right! What’s a store nowadays without card swiping machines? Go, get yours!

You Don’t Know this Inside Story of Card Payment Processing in the UK!

Plastic is the future. Soon you’ll end up buying a strip of gum by hovering your card over the machine. Every single store is going to have a card swipe machine in no time. Before you swipe the next time out though, just know that you’re paying for whatever you’re purchasing straight. Someone else is paying up for you too.

You read that right. Welcome to the world of card payment processing in the UK. Believe it, there’s a lot going on and there’re quite a lot of things which you should know.

Who pays for my purchases?

Ever read ‘The Merchant of Venice’? Well, these are merchants too, albeit nicer ones. They pay up for you every time you swipe your card.

These merchants are the ones who provide not only these machines but a lot more as well. Machines are just the point of reference between you as a buyer and the business.

Here’s what happens!

• You make your purchase. Nope, wrong. A merchant makes your purchase for you. You’re just initiating a transaction.
• That merchant forwards the transaction details to your bank who matches it against your purchase.
• Your bank pays up that merchant as per that transaction.
• That merchant returns the amount minus their service fees as per the payment gateway fees in the UK back to the business.

Get the drift; this is what happens. So, next time out, do thank merchant services. Without them, you’d still be looking for sparsely usable notes in your rarely used pockets!

How does a merchant account payment gateway function for transactions?

A merchant account payment gateway provides you and your customers with an electronic payment option. In a modern economic domain where electronic transactions are a continuously increasing figure, you need to integrate one into your business setup. But to get the best of it, you need to know how they function first.

Inner workings of merchant payment gateways: 9 pointers.

• Shopper Buys –

A shopper can use numerous payment procedures from cards to even e-checks. Top merchants are compatible with every single popular format. Either way, a shopper pays up and buys from you.

• Merchant account kicks in –

The merchant account kicks in against a shopper’s initiation of that transaction.

• Payment Gateway –

That merchant pays up for your shopper through a payment gateway linking to that merchant’s account for the transaction. 

• Hosting on card or e-transaction network –

This whole process hosts onto the card or e-transaction network. Retailers like you cannot host the shoppers’ payment information to exact payments. Merchants do it to access their return of that transaction payment. 

• Payment Processing –

The merchant’s payment goes through authorization linking them to the bank in question, i.e. the shopper’s bank.

• Funds Acquirer –

A mediating party functioning in between merchants and financial institutions acquires the initiation order to mediate transaction funds.

• Authorization –

Final authorization takes place, starting all the way from your shopper buying goods from you against the funds in concern, which your merchant pays. 

• Issuer Bank –

This whole procedure reaches that shopper’s bank whence they release the funds as per the shopper’s payment. Point worth mentioning; this amount is void of taxes which was applied when the shopper bought the goods from you.

• Merchant Account Funds –

The merchant initiating, mediating and processing this transaction finally gets back the funds which they offered up so that shopper can buy from you.

So, this is a brief 9-pointer procedural break-up of the basic steps which happen every single time your consumer buys something from you. You pay a certain fee to them but what you get in return is their services allowing your consumers to buy from you any way they want.

Online merchant accounts can drive your consumer revenue Here’s how

If you’re hosting your dream venture into reality, well, Kudos. It’s a tough world now and getting your start-up up and running is a difficult proposition. You never do seem to have enough finances to push through and the starting few months will force you to scrape through. Perhaps you’re looking in the wrong direction; perhaps you should instead concentrate on driving your revenue through add-ons. The best online merchant accounts can do just this, drive your sales with a few small but hugely beneficial services.

Loyalty Programs:
Everyone has been a part of a loyalty program at least once for a while without really knowing it. Try remembering the last time you used a gift card. With it, you were unwittingly and obviously returning to the same e-marketplace. 

To continue, this is the basic motive of it all. Loyalty programs garner loyalty, that is, customers or consumers who will return thereby driving revenue forward. 

However, the thing is, you need your merchant account provider to substantially provide positive consumer feedback too. Minimal loophole-free transaction times are a start.

Mobile format integrations:
Why would an individual looking to buy something go all the way back home, switch on that PC and then go through with that transaction? Would you do it?

This is just why you need your merchant accounts provider to include mobile format integrations. Increasing customer convenience, you are motivating consumers simply by making things easier for them.

Risk-free:
This is a common concern whenever it comes to merchant services. But to bust a myth, it should not be. If you think that no other service provider in this field can guarantee payments other than the best names, then think again. Why?

Even the biggest names out there liaise with subsidiary merchant service providers to increase overall consumer reach. And you do understand that more consumers mean more revenue. Top merchants guarantee ‘guarantee.' So, go ahead and take the most effective step to boost your business.

How Chip and Pin Technology will Benefit Businesses

Chip and Pin technology is already in wide use all over the world. Chip and pin cards make use of an embedded microchip which encrypts the account information, making it impossible to copy, edit or replicate your personal information. Therefore using chip and pin machines in business today are considered as the best practice for every businessperson around the world.

However, many businessmen ask ‘how to reduce my chip and pin fees’. If you are one of them, then the best way is to take shortest contracts on the machines at lowest rates, which will lower down your fees to a great extent.  

Here some benefits of chip and pin technology in business –

• If your business is using chip and pin terminals it means you are dealing with a more secure system for your customers and your customers will definitely appreciate this process, and they will never hesitate to do transactions with you
• Chip and pin also reduce the chargeback risks from your business as it eliminates the signature verifying procedure from the transaction, so there will be very fewer chances of chargeback.
• Chip and pin also make the transaction procedure faster. Entering the pin of the card is enough to complete a transaction which makes the procedure much faster compared to signature authentication and others procedures of the transaction.

If your business has not obtained the chip and pin technology, then it is the time that you must buy a chip and pin machines for your business transactions.

Top Reasons to Become PCI Compliant

PCI DSS or Payment Card Industry Data Security Standard, as the name suggests is a standard or system which was created by five major credit card companies in order to secure debit and credit transactions. This standard gives permission to all merchants and companies to build software, hardware, and other necessary procedures to secure card transactions as well as the sensitive information of the transaction. But the question is how to be PCI compliant in the UK and what are its benefits. Let’s check out. 

How To Become PCI Complaint
Becoming a PCI complaint is not that easy. You have to solidify your documents, resources, and tools to meet all the rules of PCI DSS. You have to remove all the unnecessary data from your system and keep it completely clean regarding data. A single mistake on your system can prevent your business from becoming a PCI complaint in the UK. However, today there are many services also available that helps people in business to become PCI complaint with different toolkits. You can also hire those services to get help with the PCI complainant procedures effectively.   

Reasons to Become PCI Complaint

• PCI complaint proves that you are taking the information of your customers seriously, and they will feel confidence while doing a transaction with you and eventually your customer base will increase.
• It helps your business from getting brand damaged.
• PCI complaint protects you from expensive fines if your business should happen to be breached.
• It protects you from facing security damages.

Thus, every business should make sure that they are PCI compliant to avoid any problems later on.

How to Select the Right Credit Card Payment Gateway

With online business booming, it is a trend to see new ecommerce websites emerging each day which sell different kinds of products as well as services. Debit and credit card payments constitute the main way of making payments online. A right credit card payment gateway is crucial for the smooth functioning of the payment transaction and making life easier both for the business owner as well as the customer. While making the choice, few pointers should always be kept in mind:

Digital Security

This should be the first thing that you look into. In view of the various online frauds, you must double check and ensure that gateway works in an absolutely secured manner for both the customer as well as you. The highest level of protection and security is achieved if the gateway is PCI DSS compliant. You should not choose any company not having it. Other fraud prevention tools should also be looked into to ensure a strong fraud detection mechanism as well as strong data encryption.

Onboarding Timeline

This is the time taking by payment gateways to secure approvals for merchants to use their facilities from partner banks. It is not uncommon to hear this timeline stretched to 2-3 months which definitely proves detrimental to your business goals. It’s best to opt for gateways that do not exceed this timeline beyond a week at the most.

Other considerations to look into are ease of integration, mobile optimization, customer support and finally the pricing. A good payment system will imply better customer retention and better customer satisfaction.

Top Reasons For Small Businesses To Switch to Chip & Pin Machines

Irrespective of whether it is a small or a big business, credit card processing has formed its essential component. The latest way to make this processing a smooth walk, has been the chip and pin machines. Resorting to these and chip and pin terminals has now become imperative to even small businesses which a decade earlier was unimaginable for them and meant only for giant companies. Let’s understand why small businesses should switch to them, if not by now.

• Whether you are on the go or for any transaction, security is a big concern with any customer. This concern is best addressed by the chip and pin technology where the information is read through a computer chip and then the customer himself punches in the PIN number to verify the identity. This almost eliminates any possibility of your card getting charged without your consent.
• In the previously used magnetic strips it was as easy to override information and was extremely easy to have the magnets interacting in the wrong way. However, with advanced technology, it is not so easy to lift off the information off the magnetic strips. Using EMV (Europay, MasterCard, and VISA) cards is perhaps the best way to attain this capability and this requires a Chip & PIN credit card processor to work smoothly.
• To keep up with the competition, you must be able to accept payments through different platforms, particularly the mobiles. Today, you have specialized chip and pin machines which transmit payment information using mobile phone signals to the to the merchant services provider using the GPS technology mostly.

These are some of the top reasons. Apart from these, small business can enjoy a number of great benefits by using a chip and pin machine.

Various Types of Online Card Processing Services – Making the Right Choice

Accepting online payment is a far more intricate process than accepting cash payments. You cannot go directly to a bank taking the customer’s credit card number. An intermittent service is required which to process payments, track them as well as settle any discrepancies and disagreements that can possibly arise in any financial transactions.

Regarding payment with debit or credit card, there are two main ways of payment. The first is by swiping the card through the card reader at any retail store or entering the credit card information into an online payment form. The second method is chosen for online payments. As an intermittent online card payment processing services, there are many merchant account providers who take care of the job in an efficient and secure manner.

Payment Processing Services - What they offer
Since the transactions happen on a global level, some payment processors lay down special requirements for their services for international customers because of various limitations to worldwide services.

A good payment processor will facilitate conducting online transactions in real time which not only saves time but also eliminates the requirement of manual processing which in turn reduces risk and provides better protection against any possible frauds. Generally, the payment processing methods are selected based on the volume of online transactions they would need to process for any business. To render real-time payment processing services to customers, the merchant account provider can either create a connection from their e-commerce site to the acquirer for easy connection to any card processing network or outsource it to a third-party payment service provider.

Various Types of Chip & Pin Credit Card Machines Available in the Market

Compared to other devices, the chip and pin machines are just decade old equipment which easily processes credit cards. Today, increasing number of people is turning to this equipment for their payment requirements. For the cynical and skeptic chip and pin terminals, shortest contracts are also available for one to try out. These are coming up as the best arsenal against credit card frauds. It is available in large varieties. Let look into some of its solutions.

Countertop PDQ
Standing for ‘Process data quickly,' these chip and pin machines are extremely common. They are always connected to a power point and a phone line or a broadband router. These are used to speed up the face to face payment transactions and generate terrific opportunities for impulse sales.

Portable Bluetooth or Wi-Fi Terminals
If you are using the blue tooth chip and pin terminals, they work at a range of 50m to 100 m of the base unit. Like all Bluetooth gadgets, their effectivity of communication gets hampered if the base unit gets obstructed by walls.

In contrast, the Wi-Fi version can be configured for easy transactions through the secure Wi-Fi access. They had a cradle where the terminals get charged and need a power point and fixed telephone line or secure broadband connection to function. The batteries of these units last up to a day in an average which meets most business requirements adequately. These terminals work fabulously for environments like restaurants, bars, and hotels. However, one must ensure a reliable card machine for a quick, secure and reliable processing of any transactions.   

Top Reasons for Businesses to Become PCI Compliant

With the increase in online transactions and use of cards, customers today want to be able to purchase and use products and services with the minimum risk of fraud. When a business is PCI compliant, their customers feel confident in their services. There are many benefits to being PCI compliant as it will allow businesses to get repeat customers and lead to greater conversions that will increase their profits. Thus, businesses today need to make an effort as most people do not want to do business with a company that is not protected leaving their information at risk of fraud.

Here are some of the top reasons why Businesses should be PCI Compliant –

• PCI compliance allows businesses and their customer’s security and assurance to trust them and carry out a transaction safely.
• It reduces the risk of fraud and identity theft that can sometimes lead to profit and customer loss.
• Businesses can reduce the fines that come with being PCI non–compliant that can often be sizeable ones and can lead to a reduction in profits.
• Most of the customers today look for companies that are PCI compliant and avoid the ones that do not make an effort to become PCI Non Compliance.

If you are looking for ways on how to become PCI DSS compliant in the UK, there are a number of independent websites that can offer you detailed information about it and also help you pick the right company for the purpose.

Top Ways Businesses can Gear up for the Latest Chip and Pin Technology in their Business

It has become important for all kinds of businesses today to accept cards. Today, payment technology has become advanced and allowing businesses to avoid fraud by accepting payments quickly and efficiently. Businesses are opting for chip and pin machines instead of the old swiping machines. At the chip and pin terminals, the card is inserted into the terminal and remain there till the entire transaction is completed. The customer will be then required to enter the PIN to complete the transaction and receive their receipt. The card is then taken out and given back to the customer. 

For those who have just opt for chip and pin facility, should know a few things to make the transition worry free –

• You need to check your payment equipment and the software that you use. Find out the changes that you will need to make to accept payments through the new system.
• You will need to create a rollout plan and inform your customers about it. you will also need to create a budget and implantation schedule for your employees and your customers.
• It is important to train your staff by providing them training to use the new payment system. They should also be ready to answer any questions that their customers might have for a smooth transaction process.

It is important to choose a reliable chip and pin terminal service provider for your business by doing an online search. You will also be required to choose a contract period. Make sure that you do not just pick the Chip and Pin terminals shortest contracts, but know the various benefits that you get along with it.