credit card processing

Credit Card Processing for Micro Merchants

The retail world encompasses merchants of all types and sizes: Big Box stores, mom and pop shops, e-Commerce entrepreneurs, mail order operations and mobile vendors, to name just a few. Each category has specific technology requirements; fortunately, the credit card processing industry has a solution for them all.

Take micro merchants, for example. They are typically low-volume operations, oftentimes self-employed vendors or service providers, whose point of sale can be a variety of settings — crafts fairs, school or community events, customers’ homes, sports or entertainment venues, food and beverage carts. At one time they may have been strictly cash-and-carry, but now they understand the value credit card processing so they can accept credit cards from their customers. the question is, how?

PayFox™ from Merchant Account delivers the flexibility, convenience and immediacy needed by these merchants on the go. Designed to integrate with the iPhone 3G/3GS and the iPhone 4, it also works with the iPhone 2G, iPad and iTouch within a WiFi network.

Getting started is easy: once you have the necessary merchant account, download the free PayFox app from the iTunes App Store directly to your mobile phone or device. then start accepting major credit cards and signature debit cards practically anywhere your business takes you.

Add the recommended optional PayFox cardreader and benefit from lower, card-present processing fees. the cardreader’s features include bi-directional swipe capabilities, a mini USB port that lets you charge your iPhone right in the cardreader, and low battery consumption. No external power source is required, and the reader cradles the phone, making the whole process a snap.

Security features are always critical to credit card processing, and PayFox delivers. an SSL connection keeps cardholder and account data safe, and address verification support (AVS) alerts provide advanced fraud detection.

Simply put, PayFox works like a traditional credit card terminal while supporting additional functions that are valuable in the field, such as single-screen entry for speedy transactions, verification/decline notification within seconds, gratuity add on and e-mail receipt capabilities, customer contact information storage and geo-location mapping technology.

Credit card processing can help any business grow, and PayFox capitalizes on that by enabling you to take your product or service directly to your customers. with today’s mobile credit card processing, no business is too small to accept payment cards — and micro merchants who adopt mobile processing technology may not remain micro for very long!

Credit Card Processing for Micro Merchants

Square’s credit-card swiper hits Wal-Mart

NEW YORK (CNNMoney) — After landing a massive cash infusion in June, mobile payments venture Square is taking a big step into the mainstream: Its mobile credit-card processing system is now on sale at Wal-Mart.

Square’s card reader, aimed at small business owners and on-the-go merchants, is a smartphone add-on. it attaches to iPhone, iPad, and Android devices, and allows the owner to accept a credit card payment in return for a 2.75% transactional fee.

The aim is to bring down the barriers smaller business owners typically face when they want to accept credit card payments. Wal-Mart (WMT, Fortune 500) isn’t the first large retailer to sell the devices — they can now be found at Target (TGT, Fortune 500), RadioShack (RSH, Fortune 500), Best buy (BBY, Fortune 500), and Apple (AAPL, Fortune 500) stores around the country — but its massive retail footprint will help dramatically expand Square’s visibility.

Square’s system is now for sale in 9,000 retail locations nationwide, up from around 200 locations this summer, according to a Square spokesman.

The credit card reader comes with a $9.99 price tag, but customers can get the money credited back to their account by signing up on Square’s website. The company says it has shipped 800,000 card readers to merchants and is now processing $2 billion in payments annually.

In June, the company, created by Twitter co-founder Jack Dorsey, announced a $100 million funding round led by by Kleiner Perkins Caufield & Byers. As the mobile payment industry heats up, the startup is looking to position itself as one of the leading players.

Also in the running are companies like eBay (EBAY, Fortune 500)’s PayPal and Google (GOOG, Fortune 500), which recently rolled out its "mobile wallet" technology. Wireless carriers and banking giants have also turned their attention toward mobile payments, along with a host of startups looking to break into the scene.  To top of page

Square’s credit-card swiper hits Wal-Mart

Credit Card Processing For Your Business Needs

Are you in the market to find a credit card processing company for your business? Are you unsure what feature to look for? Are you not quite sure what you even need? While finding a company that will be a perfect fit can be done, you will need to investigate and compare multiple companies until you find the one that is right for you. Here is a look at the areas that you will want to consider.

Comparing The Cost

Credit card processing fees vary from company to company. It can be a challenge trying to figure out exactly what it is you will be paying for processing services. Companies can charge a variety of fees including an initial contract fee, monthly service fee, per transaction fee, minimum transaction fee and more. Your best bet, especially if you are a new or smaller business is to avoid companies that have monthly minimums, transaction minimums, etc. Usually the most inexpensive contract will be one that offers an interchange plus pricing contract.

Customer Service

Next, you will want to look for a company that offers superior customer service. Before signing a contract make sure you check out the company’s customer service line. Additionally, you may want to ask around to other businesses that use the company to see how they rate the customer service. In most instances, you will want to choose a company that offers around the clock support, provides initial training and is quick to respond to your questions and needs.

Read The Fine Print

When you are deciding between different companies make sure you always read the fine print of every contract. Some companies may claim to have the best rates but when you read the fine print you may find you don’t qualify for the best rates. Many times to get the best rates you need to have a super high volume, a minimum amount of transactions per month and more.

Other Things To Look For

As you are comparing processing companies here is a list of other things you may also want to consider:

Can I lease equipment? If so, how much does it cost? Many times buying your own equipment is a better option, but you will still want to compare.

How long will it take for me to get my funds? This can vary greatly from one company to the next. It is usually ideal to find a company that has a turnaround time of 24 to 48 hours.

What fraud protection measures will be provided? Credit card fraud is a serious issue today and you will want to make sure the credit card processing company you choose takes fraud very seriously and has fraud protection measures in place.

Do they offer technical support? Especially if you are renting equipment, you will want to make sure the company you choose offers technical support around the clock. You never know when your equipment might decide not to work and you will want to be back up and running as soon as possible.

Want to find out more about credit card processing, then visit ePayment Solutions site on how to choose the best credit card merchant services for your needs.