Tips To Negotiate the Perfect Credit Card Processing Deal

As you know, credit card processors also want to sell their services and if your offer is good then they might accept it. Confidence is must along with the tips mentioned in this blog.

1. NEVER AGREE RIGHT AWAY

It’s the first rule of the negotiation, never agree right away. Take your time, compare prices and talk to the service providers for more details. Even if you are sure that you want to use their services, you need to keep other options available to you. Rushing and purchasing the first deal you see is not a good option for you. Also, if the representative tries to rush you into purchasing it then be alert and ask that you need more time to think.

2. COLLECT ALL CREDIT CARD PROCESSING OFFERS

Before settling for one, check for other credit card processors available in the market. This will help you Negotiate Credit Card Processing Deal in a better way and give you a baseline idea about the various credit card services and processors. Also, you will get the details of any additional services offered by other companies that can be beneficial for your high-risk business.

3. DO NOT HESITATE TO TALK TO THE MANAGER

If you need more information and better negotiation that the representative is not offering, then you can simply ask to connect to the manager about it.

According to their policies, a manager cannot refuse to talk to a customer or potential customer. On the other hand, you can also try calling at the toll-free number to get more details and at the same time request time with the manager.

4. CALCULATE OVERALL VALUE CAREFULLY

When you have successfully collected details from the various payment service providers, calculate the overall fees for all the services. It is very important to check the overall cost for all the credit card processing services that fits your description. Sometimes the fees for the services may seem less. However, the overall fees may feel like costing a fortune. Using this strategy you can get the best value offer to Negotiate Credit Card Processing Deal.

Get more information for you can contact our expert's team. Contact no. +1 (888) 622-6875. Also, you can Email - info@merchantstronghold.com

How Does eCommerce Check Out Work?

Ecommerce Checkout Flow– Every big or small brand is now taking their business online due to the boost in the e-commerce industry. This means, along with the physical store, every merchant now wants to have an online store as well. This is a good idea for a merchant to expand and increase his revenue. However, not everyone is good at handling the e-commerce business on their own. This is because of the competition and lack of guidance.

What Is ECommerce CheckOut?

It is a designed interface and a customer must go through it to purchase an item. As soon as the customer clicks on the checkout button the process starts. Generally, it contains steps like entering personal details including name, address and contact information. Other than that, the customer will be asked to choose the mode of payment and enter details depending on the model chosen.

For example: If a customer chooses to make the payment using the credit card then he will be asked to enter the credit card processing details depending on the company’s norms.

Once the checkout is completed successfully, the customer will be notified regarding the recent purchase using the contact information provided by him.

How Does ECommerce Checkout Work?

From the customer’s point of view, the checkout process is as easy as entering the details and getting the products. However, for a merchant, the checkout process is a whole different story.

An ECommerce checkout process is the flow of valuable data that needs to be processed carefully at every step. Generally, a customer goes through following steps during an ECommerce Checkout Flow:

• After liking a product or service, the customer clicks on the “Add to Cart” button.
• Then the customer is directed to the cart where the confirmation is asked whether the customer wants to “proceed to checkout” or go back to “continue shopping”.
• Once clicked on “proceed to checkout”, the user will be asked whether the customer wants to checkout “as a guest” or “sign-in”.
• After choosing the desired method, the customer will be asked to enter the details.
• Finally, “place your order” will pop up on the screen.
• After clicking on this button, a customer needs to make the payment by choosing the desired mode.
• Once the customer successfully completes the payment, he will receive confirmation of the purchase.

Get more information about eCommerce checkout work.
Contact us@ +1 (888) 622-6875.
Also, you can Email _ info@merchantstronghold.com

Retail Merchant Account | Credit Card Processing

It is obvious that having a credit card present when the transaction is being processed will reduce the chances of fraud. But there are other variables as well that should be considered when going for a retail merchant account.

One example can be the Volume of Transaction and Average Ticket Size. Consider someone is selling jelly beans or any other product at a mall. The sale of this business will relatively be moderate having low average ticket size. If someone purchases a couple of dollars of beans, then there won’t be any big risk to the merchant.

Chargebacks and product returns will not be the concern of the business owner. But if the average ticket size increases, the risk of chargeback and product return will also increase. If the price of the product is high, means customers value the quality of the product. Retail Merchant account in this situation can save you because you will be safe from frauds and high risk. With the point of sale software by Merchant Stronghold, retailers will accept payments safely and securely.

Hence, we provide quality services and support to the merchants and their customers. Getting a merchant account is just the first step towards success. Merchant Stronghold has a safe, secure, and quick processing architecture that is best in the world. Start your Merchant Application Today!

Best Retail Products and Services

Credit card acceptance is the major factor that can lift up your business. There is a wide range of payment solutions that merchants can choose from. We provide all the services that will help business owners succeed in their industry. Here are some of the benefits that most merchants can expect by using our services:

• Customer Service: Quality Customer Support that is ready to look into your queries anytime
• Set Up: Easy and Solid Set Up, Accept Payment 24/7
• Daily Funding: Next Day Batch Settlement
• Online Portal: Merchants can view their online activities and access dedicated platform that gathers information regarding business activities.

SECURE ONLINE PAYMENT SERVICES FOR YOUR SYSTEM

In order to reduce the risk, you need to add more secure online payment services to your system. Here are some security measures that you must add to your payment services:

SSL Protocol

SSL Protocol ensures the security of your website. This means, each and every data experiencing your website is encrypted. As a merchant, you need to purchase the SSL Certificate for the website so that when customers visit your website, they see that your website is safe to use.

Not just that, SSL Protocol helps you grow your online reputation as well. A website will SSL has a padlock icon along with the URL of the website. This padlock icon gives customer relief that the website is safe to use.

Tokenization

It is a popular data security method used to transfer sensitive data. Payment methods are generally equipped with their system with tokenization. Using tokenization, the customers data and information remains safe even in case of the data breach.

In tokenization, the sensitive data is replaced with non-sensitive data which has no relation or meaning to customer’s original data. This non-sensitive data is called a token. This token is meaningless to the fraudsters.

PCI Compliance

PCI Compliance improves security and reduces risk. Payment Card Industry Data Security Standards (PCI DSS) tell merchants how sensitive data used in payments should be secured. PCI Compliance uses data encryption to ensure security when making online payments.

Every merchant offering online payment need to use the PCI Compliance services to ensure Payment Security for Merchant.

Address Verification Service (AVS)

It is a widely used service now where the customer needs to provide the address. If this address matches the credit card holder’s address, only then the transaction will continue.

It is a simple method and seen to dodge many frauds in the last few years. This is the reason, merchants are advised to use AVS to ensure payment security.

PAYMENT GATEWAY COMPETITION IN ONLINE BUSINESSES

The eCommerce and online business in recent years have developed great payment gateways and side-by-side the ease of shopping too. Building the shopping platforms and integration of payment source has also simultaneously developed. A study subjects online commerce to reach $5.8 trillion by 2022-that would be more than 6 times the figure for brick and mortar sales shops. There is a steady growth in the cash flow of online transactions in contrast to the old school method. Most important drivers in the growth of eCommerce are the ease and security of paying online.

HERE ARE THE MOST POPULAR PLATFORM OR PAYMENT GATEWAYS GLOBALLY:

Authorize.Net: It has a huge base of more than 370,000 merchants for streamlining fast and secure transactions. It doubles as a virtual POS solution and supports wide interface integrations on big and small online businesses. A wide range of PSPs worldwide also trusts it.

Stripe: Stripe is an online payment processor, which is designed especially for small online businesses. It has a vast selection of integrations, features and transparent pricing schemes. It is a convenient platform for accepting credit card via online channels. It can handle all the backed processes involved in online payments like security and automated features.

PayPal: PayPal is built on the technology that enables users to accept credit cards as well as process mobile and retail credit cards. It is great for global companies, accepts 25 currencies from 200 countries and territories. PayPal can be integrated with shopping carts, CRM solutions, eCommerce platforms, and accounting tools to propagate the operations

Amazon: This payment gateway comes from the eCommerce giant Amazon, which is prepared for both Amazon merchants and customers. It’s very easy, reliable and a rapid platform. This gateway works more in an ecosystem-based model. With this, you can attract new as well as repetitive customers. You can even improve customer loyalty with their already inclined recurring payment options and offers.

Braintree: Merchants in more than 40 countries are using this payment gateway worldwide. It has access to a total of 130 global currencies. It offers global eCommerce tools to let companies build their own features on the platform and scale the businesses around the world. It has an interface that is best for customizability, making it great for new users.

Merchant Account Services for Telemarketing Business

It allows you to market your product directly either over phone or web conferencing, which is on a call. In this marketing method, the salesperson tries to convince prospective customers to buy a product or service. Services are given over the phone or during a conference. For operating such type of business and carry out financial transactions (where most of the transactions are through credit card), business or merchant needs a merchant account.

High-Risk Merchant Account 

Next thing that comes to our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not. It depends on the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account. But if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.

Advantages of Merchant Account Service

If a merchant gets approval for a high-risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is the virtual terminal. It is beneficial for high-risk merchants.

After the merchant account approval, as a result, a telemarketer will be able to accept the payment through credit card. Also, do financial transactions telephonically.

It will bring the customers under one roof allowing them to accept all the major currencies and credit cards.

The Question Is | Why do I need a merchant account?

Merchant Account Provider for Business – Usage of cash and checks is reduced in the past decade. More and more people are relying on cashless transactions. This means people are getting comfortable with card payment and card fewer transactions. But this is not good news for Merchants. They have to adapt according to the changing economy. This transition takes time and understanding.

There are benefits of getting a Merchant Account Provider for Business:

Better Money Management

No matter how small or large enterprise you have, money management is one of the very important aspects of a business. Without proper management of money, you won’t be able to see any profit. This is how a merchant account helps:

Now, if a customer makes the purchase using a credit card, debit card, or other cashless modes, the money will be directed to your merchant account directly.

You get a merchant account, which is connected with all the modes of transaction available.

Also, you can easily track the flow of money and make your business better.

Customer Satisfaction

There are many people who do not carry a large amount of cash anymore. Also, they prefer card mode of payment when it comes to expenditure. Coming back to the merchant, they need to equip their business with the tools to accept such payments. A merchant account provides such services.

A merchant also provides the tools to accept various kinds of card payment.

If you have an online platform to make business then you can also add payment buttons to the website for the customer.

This provides flexibility to the customer, as they have the option to choose from multiple modes of the payment.

No Fake Currency or Bad Check Hassle

In the case of cash or check transaction, the merchant is always worried whether the money offered is genuine or not. Sometimes, these little frauds can lead to a great loss for the merchant.

By using the cashless transaction, the merchant can avoid cases of fake currency and bounced checks.

A merchant account also offers payment modes for the recurring transaction of products and services.

Growth in Number of Sales

As we discussed, a great number of individuals are opting for the card payment as the mode of transaction. And introducing the cashless transaction can actually bring more business. With the growing security, the number of card customers is increasing exponentially.

How To Choose The Correct Transaction Descriptor For Your Business?

It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction.

The purpose of the merchant descriptor is to identify whom the payment was made to. Whenever a merchant goes for the merchant account, he or she is asked to provide the merchant descriptor as well.

WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR?

Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor.

A descriptor gives clear information about the merchant and the purchase.

This helps a customer to quickly identify the transaction.

That also results in a low chance of the chargeback from the customer’s end.

According to the various reports from the card networks, most chargebacks are filed simply because the customer did not identify the transaction.

Now you know, as a merchant you should give attention to the merchant descriptor. If this is the case, you need to gather more information about the Transaction Descriptor or Merchant Descriptor.

There are two kinds of Transaction Descriptor:

Static Descriptor – A Static Descriptor remains the same for all the transactions made by the merchant.

Dynamic Descriptor – And in this case, it varies and includes the details of the purchased goods or service.

You must be wondering which one is better and what should you get for your business.

A Static Descriptor is often called Hard Descriptor. If you have a business that sells one kind of goods or service then you can go for this. A static descriptor generally contains the company and location in form of the zip code. Whereas, the Dynamic Descriptor may change with each transaction as it contains product specific details. If you own a store that sells a variety of products then you should choose the dynamic descriptor.

Why Use Multiple Payment Gateways for Business

GLOBAL EXPANSION OF BUSINESS

Who doesn’t want to expand their business to the global market? Now, if you are a merchant with an e-commerce website then you have great opportunities right in front of you. You can start selling your products all over the globe using your website.

However, it is not as easy as it may sound, but you can definitely start somewhere, and this can be started by adding payment gateways. Furthermore, if you are thinking to target a specific geographical location then the best way is to study the audience niche. Along with that, you can also look for the payment gateways popular in that region. After that, you can follow the same pattern and keep adding more locations preparing a multiple Payment Gateways website.

TARGET TOWARDS BETTER REVENUE

Once you have added multiple gateways to your business, you’ll see increased traffic on your website. This means you will get an increase in conversion rate, which could eventually lead to better revenue.

Furthermore, in a situation of crisis with a certain gateway, you can rely on another to keep your business going. Let’s try and understand this with the help of an example:

Suppose, you use 2 payment gateways A and B. One day, gateway A stops taking MasterCard payments and all the MasterCard credit card payments gets declined. In such a case, you can switch to gateway B and complete a successful MasterCard Credit Card Transaction. 

So, one can say, one of the advantages of multiple Payment Gateways website is never losing a sale or transaction.

BACKUP AND FAIL-SAFE PAYMENT SYSTEM

Using the gateways to make a transaction in your business can help you create an elaborate database of the customers. Using this database, you can mark faithful and regular customers, and at the same time blacklist the cardholders with a number of scams.

You can use this information for a successful business that can also help you reduce the number of chargebacks. Furthermore, you can back up this data using the gateway services.

If you have another payment gateway then you can securely copy all this data to another gateway and have all the similar advantages.

Furthermore, in the situation of overflow, having a second payment gateway can save you from losing any business. One of the advantages of multiple Payment Gateways website is always having a backup payment gateway.

ADVANCED SECURITY AND SUPPORT SERVICES

ARE THERE ANY DRAWBACKS OF HAVING MULTIPLE PAYMENT GATEWAYS?

High processing fees and costs

Management of multiple payment gateways

Do not result as profitable as it may sound

Understand Ecommerce Checkout Flow

Ecommerce Checkout Flow– Every big or small brand is now taking their business online due to the boost in the e-commerce industry. This means, along with the physical store, every merchant now wants to have an online store as well. This is a good idea for a merchant to expand and increase his revenue. However, not everyone is good at handling the e-commerce business on their own. This is because of the competition and lack of guidance.

One of the important aspects of online business is the checkout process. The checkout process is where your visitors get converted into the customers. If not done right, you can lose the e-commerce business due to excessive loss. 

Although, there are many successful e-commerce businesses that are doing really well and you can learn from them. Along with that, in order to boost your business, you can take help from experts.

What Is ECommerce CheckOut?

It is a designed interface and a customer must go through it to purchase an item. As soon as the customer clicks on the checkout button the process starts. Generally, it contains steps like entering personal details including name, address and contact information. Other than that, the customer will be asked to choose the mode of payment and enter details depending on the mode chosen.

For example: If a customer chooses to make the payment using the credit card then he will be asked to enter the credit card details depending on the company’s norms.

Once the checkout is completed successfully, the customer will be notified regarding the recent purchase using the contact information provided by him.

How Does ECommerce CheckOut Work?

From the customer’s point of view, the checkout process is as easy as entering the details and getting the products. However, for a merchant, the checkout process is a whole different story.

An ECommerce checkout process is the flow of valuable data that needs to be processed carefully at every step. Generally, a customer goes through following steps during an ECommerce Checkout Flow:

After liking a product or service, the customer clicks on the “Add to Cart” button.

Then the customer is directed to the cart where the confirmation is asked whether the customer wants to “proceed to checkout” or go back to “continue shopping”.

Once clicked on “proceed to checkout”, the user will be asked whether the customer wants to check out “as a guest” or “sign in”.

After choosing the desired method, the customer will be asked to enter the details.

Finally, “place your order” will pop up on the screen.

After clicking on this button, a customer needs to make the payment by choosing the desired mode.

Once the customer successfully completes the payment, he will receive confirmation of the purchase.

ISO PARTNERSHIP STRATEGIC & MERCHANT SERVICE PROVIDERS

Independent Sale organizations and merchant service providers are the companies that processes, store and transmit data on behalf of their merchants. Our Strategic Partnership program offers companies or individuals to sell Merchant stronghold’s services with the ability to market them under their company’s name.

Feature

Priority for the verification of merchant account applications.

Name of the company during the merchant account agreement.

Ability to show that services are being served under a white label.

Transfer of responsibility to a top priority for the merchant support.

Detailed reports of every Merchant’s transaction history.

Benefits

Ability to market and sell the merchant service under the brand name of your company.

Earning an attractive amount of revenue as a commission and ability offer a wide range of merchant services to your customers.

Merchant Stronghold offers a partner manager, that will support you to solve the queries related to offering the merchant services sells.

The partnership enhances your ability to add/board merchants of any size and of an industry we serve to be it high risk or low risk.

Ability to directly submit online merchant application under your company name in collaboration with for business worldwide.

Important Document for Merchant Account Application

Here are the generally detailed documentation(irrespective of any country) that are required for the merchant account is:

To prove that the applicant is the legal resident of the country he/she should have these documents to initiate the application process:

Legal presence in the country: The merchant should have a registered legal name and address and a Doing Business As the name.
Physical presence: The merchant should have a physical presence of the business place. This physical presence can be the applicant’s home or an office from where the business is being incorporated.
An existing personal or business bank account in the country where the applicant is applying for the merchant account.

The documentation that will be required while filing the application form and get the approval as soon as possible:

Applicant’s form: This is typically provided by the bank or processor to get filled by the applicant that acts as the resume of the applicant which will contain almost all the details about the applicant. The basic details that should be specified in this document are business’ fundamentals, Tax ID, address of the applicant, e-mail address, web portal details of the business(if available), sales and processing volume details.
Business license: This document help business owner to prove that the business is registered with the local government body and the merchant have the legal authority to sell the products.
Article of Incorporation: This document is required whenever the merchant or business claims to be owned by multiple people or claims to be in process on the world level.
Voided check: A voided check must be deposited by the merchant; this should be a permanent check that is the name should be pre-printed on the check.
Guarantee: This is one of the things that will be required if the business belongs to the high-risk industry or the transaction volume of the business is high. For this, the merchant needs a third party that can give assurance about the business’ profitability and existence.

If the business is a high risk that is if the volume of transaction is high or the product belongs to the industry that is categorized in the high-risk business industry the merchant needs to provide these details:

Financial transaction details of the personal account, of the last two financial years.
Financial transaction details of the business account, of the last two years.
If the business has used the virtual terminal they should provide the transaction processing details of at least last 3-6 months.

5 WAYS TO MAKE SURE YOU GET APPROVED FOR A MERCHANT ACCOUNT

Personal Credit History – Your personal credit history plays a large part in your application. If you have a good history, it will lead you to get a merchant account easily.

Tax Issues – Make sure that you have resolved all your tax issues, submitted your annual declarations, and that there are no tax liens on your account or property.

High-Risk Business Types – Most acquiring banks maintain a list of industries that they generally will not service due to their traditionally high-risk nature in order to protect their interests. Merchant Stronghold always plays a very important role and partnered only with the top tier banks that accept applications easily.

Processing Volumes Should Remain Within the ‘Norm’ – Your expected volumes are based on past processing and expected growth in the near future. To improve the odds for getting approved, show processing amounts within the “norm” for your industry.

Avoid being on the TMF (Terminated Merchant File) List – Always Avoid to come under TMF because it may lead to the downfall of your business.

A perfect payment processing method

Merchant Stronghold provides quick accounts to low and high-risk businesses. We have a wide list of partners that trust us, and we have a high approval rate. No matter which business you are running, we will find a solution for it. Whether it is a clothing business, pharmaceutical, or any other business with high risk, you can contact us and will inform you about document required and all the fees associated with a merchant account.

Address - 10300 49th Street N Suite 427 Clearwater, Florida 33762

Email ID - info@merchantstronghold.com

Contact Us - +1 (888) 622-6875.

Easy Way To Accept Payments for Home, Auto or Device Warranties

Credit Card Acceptance that is flexible for your home, Auto, or Device Warranties business. Merchant Stronghold offers the best range of solutions that can fulfill your business needs. Credit Card Acceptance is essential for your Home, Auto or Device Warranty business.

THE RANGE OF CREDIT CARD SOLUTIONS

Credit Card Acceptance services are crucial for Home, Auto or Device Warranties business. Your business can accept credit card anywhere in the world. Here are some of the services that we offer:

● Website Credit Card Processing – API Technology

● Retail Credit Card Processing – POS Terminals

● Virtual Terminal Setup – Key in Transactions

● Payment Gateway Set Up – Authorize.net or NMI.com

There is a range of services that can help your business. We can quickly set up a merchant account at affordable rates. We offer credit card processing for various businesses including restaurants, gas stations, Home, Auto, Device Warranties, and more.

Accept  Type of Card Brands

● MasterCard ● Discover ● Visa ● Diners Club ● American Express ● JCB

Our interchange and dues rates are low as compare to most merchant account companies, and we keep our Businesses our first priority. There aren’t many account providers that can match us in technology. Using Merchant Stronghold services, you will be able to run business flexibility, knowing that your money is protected.

No heavy charges on you at any stage, the rates are low and credit card accepting services won’t take much of your total profit. Our certified team is capable of protecting sensitive data including card numbers and anything can expose customer’s identity.

Our customer support team is always ready to answer any question about credit card payments and merchant accounts. Best Merchant Solution for Home, Auto or Device Warranties business

Compare The Payment Gateway Provider In Market

You can follow this article to compare the Payment Gateway provider in the market. For more information, you can contact Merchant Stronghold for the assistance. Also, we can help you choose and compare Payment Gateway Provider.

Fees and Additional Fees for the Services

The transaction processing fees and other fees for the services can affect your profit. As a merchant, you should compare the payment processing fees of the services and then get the one that is required. Here are the different fees or charges that a payment gateway service provider can ask.

*Monthly fees *Setup fees *Termination Fees *IRS (Internal Revenue Service)  *fees *Batch fees *Annual fees *Contract Fees *Customer service fees *PCI (Payment Card Industry) *compliance fees *Statement fees

These are the list of fees that a payment gateway provider can ask. There could be more than what is available in the list above.

Security and Customer Service

When you are Comparing Payment Gateway Provider, you must check the security and customer services provided by the different service providers.

A security breach can affect not only the merchant but also the customer’s money.

Make sure you read the terms and conditions of the company.

You must check the kind of security they provide.

Moreover, check the support provided by the gateway service provider in case of fraud and chargeback.

Allowed Card and Payment Types

Here is the list of popular Card Service Providers:

* VISA * MasterCard * American Express * Discover * JCB * Diner

You must choose the card acceptance according to your customers.

User-Friendly or Customer Friendly

The Payment Gateway should be interactive and easy to use for the customers. That means the customers with or without technical knowledge should be able to use the Payment Services with ease.

Check whether the services are available on mobile phones or not.

As most users now make their transaction using mobile phones.

Moreover, their response and the waiting time for each payment should also be taken into consideration.

Merchant Account for Magazine Subscription Businesses

As Magazine Subscription business, your first criteria is finding a service provider with suitable rates. There are a number of costs you have to consider. There is startup cost to set up your merchant account, configuring/customizing it for your business, and PCI annual fees. There are other types of fees such as transaction charges, which can be flat per transaction or variable. Some merchant account providers have monthly charges for any number of transactions. Online payment processing services differ with every merchant account provider, so it will be helpful for you if you understand the overall cost. Contact Merchant Stronghold for a Fast Solid and Secure Merchant Account.

Safe and Secure Processing

All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure. Online information is a great matter of concern for business owners. Ensure that online payment processing service has high security, and data encryption is kept as per standard. Security features also include SSL certificates, CVV2 verification, and complex encryption algorithm and restrictions. Many businesses consider these features because they offer a safe environment to sell products online.

Simple API Gateway Integration

Because of rising information theft, you should consider going beyond minimum security so that your Magazine Subscription business is out of harm. Your customers get email receipts at the time of processing. This ensures that transaction is authentic and quick. All the records are kept for future references. ISpyFraud Technology helps to monitor and capture customers IP address at the time of the transaction. Geo Locations and IP Address help reduce online fraud. API Gateway Integration and step by step check out process is appreciated by all Cardholders. You should run series of test transactions on your website before making it live. Many merchants don’t do tests and because of they face problems. A reliable online Payment processing service knows what to do to keep you safe from frauds.

HIGH-RISK PAYMENT GATEWAYS FOR ALL TYPES OF MERCHANTS

Though it seems simple enough to apply to a bank for a payment gateway, it is challenging. A business can have a good processing record and still get turned down due to the type of business they conduct. Banks consider many businesses high risk because they have irregular high-ticket sales, excessive chargebacks, or work in industries that are highly regulated or the rules and regulations are murky, at best. Businesses owned by people with poor or low credit scores and those that are based outside the United States also fall into the high-risk category. So, when a merchant with any of these problems tries to obtain a high-risk payment gateway, banks turn them down for services.

Merchants that want to safely and responsibly process credit card payments must turn to a high-risk payment gateway processor, like Merchant Stronghold. Merchant Stronghold offers high-risk online payment gateway services for retail, mail order/telephone order (MOTO), and internet merchants.

Merchant Stronghold prides itself on working with clients with all types of backgrounds. Whether a business is small and unknown or large and established, Merchant Stronghold finds the solutions it needs.

Get high-risk online payment gateway services from Merchant Stronghold for businesses that sell the following products and services:

• Adult entertainment and novelties
• Auto accessories and parts
• Tech support
• Luxury goods and services, such as private planes and travel
• MLM and direct sales
• Collectibles and antiques
• Designer Fashions
• E-cigarettes

Merchants Have Three Basic Needs For an Online Payment Gateway

The first is security and anti-fraud protection. Protecting your business and protecting your customers is a cornerstone of a successful business. Once incident can wreck your potential and reputation.

The second need is for the payment gateway to be user-friendly. Not only does it need to seamlessly integrate into your website and merchant account but it needs to be customer-friendly so that your customers do not become frustrated and give up on buying your products.

Lastly, you have to find the best rates. Business-friendly rates regarding transaction volume and transaction fees can make or break your margins. Finding the right balance of security and financial acuity is critical for any payment gateway.

No More Struggles With Payment Processing

VIRTUAL PAYMENT PROCESSING

A virtual terminal is an online application or operating system where a merchant can check his/her transactions and get a detailed inquiry of it. By using the virtual terminal a merchant can accept the payment without physically using the credit card. It will permit you to receive your payment anywhere at any time without being necessarily available there. You can even process the transaction once you get the card details of your customer over the phone or mail. It is the solution which will turn your computer into a payment-processing device. Unlike physical POS counterparts; virtual terminals can easily handle recurring payments.

HOW IT WORKS

• Processes swiped retail transactions.
• Card details over the phone or email, manually.
• Enter ACH transactions, manually.
• Generates automated response
• Generates receipts
• Confirms transaction with the bank
• Captures previously authorized transactions
• Confirms transaction status

Electronic Payment Processing

Electronic payment is the process of transferring money electronically from one bank to another bank. All it needs is to install an electronic device called POS (point of sale) for performing the transaction. ATMs also come under electronic terminals that let you bank almost virtually any time. To extract cash, make deposits, or transfer funds between accounts, you generally insert an ATM card and enter your PIN. Electronic payment processing will help to get instant payments right away at the time of the transaction. But it has one flaw, it will restrict you to accept recurring payments and bulk transaction by its limited services but still, it is far better than any other payment process like depositing checks and all.

We can give you the best solution for your business. We Merchant Stronghold provide payment processing without any hassle. We trust you will choose the right merchant service provider for your business. Merchant Stronghold has expertise in getting High Risk Merchant Accounts. If you want to know more, get in touch with Merchant Stronghold.

Interesting Facts About Merchant Account Processing

While opting out for a merchant account, and choosing a payment gateway, businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it.

Not Worth the Time – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account.

Expensive Affair – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates.

Misleading Promotion – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the contracts they’re selling, especially early termination fees. Yes, there are some naturally talented and trained independent agents who have done well and can provide you with quality service.

Bad Customer Support – This whole game survives on the customer as it is fully dependent on them. It is a complete misconception that the providers don’t want to provide good customer satisfaction.

Payments are Going Cashless – Across the developed world, plastic and digital payments are overtaking cash. Cash is falling out of favor and the customers are more likely to pay by credit cards or online wallets than ever before. Offering solutions to the customers should be a merchant’s top priority (in this case, service provider), however, the rise in digital payments has also led to an increase in fraud and chargebacks.

Not all Payment Processors are Equal – Like any other service, picking the right payment processor for your company requires due diligence. Payment processors offer different levels of service and technical expertise. Perhaps the biggest mistake one can make is to assume these services are standardized and pick the first one you come across. Dig deeper and try to find the right fit for your business.

Technical Support is Crucial – Technical support is like insurance, you don’t realize how important it is until you need it. A person needs a friendly and experienced team of professionals on call. Most of the payment processors offer 24/7 helpdesk handled by experts who can guide a customer through any query.

Consider Processor Fees – A cost-benefit analysis is another crucial part of running a business. Generally, a merchant service provider in this competition opts for the best rates and customer can benefit from this. The search for the cheapest payment processor has its own consequences. One needs to consider his margins, customer preferences, technical details, and quality of service before making a pick.

Merchant Specific Services – When a merchant comes to get payment services, each one of them demands specific services like the freedom to trade to some of the specific countries, selling more products than what the website mentions.

Customers Are Going Mobile So Are Merchant Accounts – 70% of shoppers and customers now use their mobile to buy services or items. The payments are going cashless as well as the merchant accounts. Therefore, to keep up with the market and remain competitive, one needs a payment processor that offers a reliable mobile payment platform.

Get Reliable E-Commerce Payment Gateways

“How to get access to the payment gateway and accept Visa, MasterCard, American Express and Discover” in simple words are, the business needs to establish a Merchant Account. But, this doesn’t the only solution as Merchant Account, is just the service that is provided by the banks that will help to accept the electronic mode of payment. Businesses can choose between the elaborate array of collections banks from across the world have ACH, Check Processing, Credit Card Acceptance, Point of Sale System, etc.

The choice of services sometimes creates a lot of confusion for business owners to choose the perfect services according to their business type and what are the exact requirements for the application of the Merchant Account. For the ease of business owners Merchant Stronghold, with their industrial experiences can help them to choose from the perfect option according to their business. For the application of Merchant Account the business owners need few of the basic documents:

Articles of Incorporation of the business, Tax documents, etc, Fictitious filings, etc

A letter that is specified with the details and nature of the business, Fulfillment Agreements, DBAs, etc

Address and ID proof of the owner(s). If the physical address of the business exists the proof of that also needs to be attached with the application. Utility Bill and Passport recommended.

Personal and/or Business Bank Statements, Tax returns are important. This provides financial strength and stability to the business.

Merchant Stronghold can help businesses to establish the Merchant Account and provide a gateway terminal to accept payments across the world. One thing that comes while collecting the payment of through electronic methods is the customers have the right to dispute the transaction if they are not satisfied with the merchant’s service they directly contact to the bank for the amount that the customer paid for the product or service that leads to Chargeback. Merchant Stronghold will help businesses to fight such situations with all the legal documentation about which businesses many times are unaware.