Here is a great two minute video that talks about Visa’s digital wallet and the future of merchant services.
May, 2012:
High Risk Merchant Services Solutions
If you are accepting electronic payments and you fall into a high risk payment processing category you will need to get setup with a high risk merchant services merchant account. Companies that need this type of service have a hard time getting accepted by most merchant services providers due to the following reasons:
1. High charge back rate industry vertical, for example, website hosting or online gaming.
2. Bad credit history
3. No credit history
4. eCommerce based business with no history and lack of strong personal guarantees.
If you fall into any of these merchant services categories you can actually get setup to accept credit cards, yet you will usually end up paying a few percentage points in premium for the higher risk the merchant services providers take by accepting your payments, this is because in the end of the day if you fall through, they are held financially responsible for whatever charge backs or fraud that goes through you.
What Merchant Equipment and Software Solutions Do I Need?
Knowing what type of merchant equipment or software solutions to use for your business can be difficult if you don’t know what you are looking for. Here are a few quick tips to help you make an intelligent decision.
- Merchant equipment such as the Omni Vx570 also called the Verifone VX570 is a great piece of merchant equipment for retail merchant services transactions.
- Doctor’s offices and medical merchant services merchants have also found success using the Nurit 8020 as well as Authorize.net.
- Retail merchant services companies have also found success using PC-based merchant services solutions such as PCCharge and PCCharge Pro as well as tap and go retail merchant services technology such as the Vivopay 4000.
- eCommerce merchant services providers have found success using PlugNPay ecommerce gateway which also comes with its own complimentary easy to install shopping cart solution.
Want to know more? Check out Choice Merchant Services merchant services equipment and software solution page and click on what you need to read all about it what solutions are best for you and what solutions can actually be free for your business.
American Express launches My Offers Mobile Merchant Services
American Express is launching My Offers, a mobile deals platform in the New Work City and LA markets. If successful, this offer may roll out nation wide.
How does this mobile merchant services solution work?
My Offers connects shoppers and merchants who accept American Express across the Facebook, Twitter and foursquare platforms. It then recommends and ranks merchant offers based on a consumer’s spending history and location.
Shoppers who have download or update the AmEx iPhone app can click on the “Offers Available for You” button to access recommended deals and to to redeem an offer. Cardmembers can add it to an eligible American Express card and then use the card to complete the qualifying purchase. Savings can then be automatically credited to the user’s account within no ore than 5 business days.
My Offers from American Express, signalsAmerican Express’ most recent move the fast-growing mobile commerce merchant services industry.
Merchant Services Processing Get More Wireless EveryDay
If you had any doubts about merchant services processing going mobile – here is more evidence that wireless merchant services is the way of the future.
May 8th, VeriFone will be launching SAIL, a mobile payment-processing platform for small and medium-size businesses. This program will compete directly with Square and PhoneSwite. Merchants who sign up with VeriFone’s SAIL program will receive a free credit card reader that that they can connect via a short cord into into their Android smartphone or tablet, or the iPad or iPhone. They can then download a free app for credit card merchant services. The SAIL merchant will pay a 2.7 percent fee for each swiped transaction, which is less expensive than Square’s 2.75% fee and right on par with PhoneSwipe Fees.
Or merchants can get mobile payment processing services with free merchant equipment from companies like North American Bancard or Choice Merchant Services with some rates as low as 1.05%.
Dial Pay – Dial Charge Merchant Services
So what are Dial Pay merchant services really all about?
Dial Pay gives you the ability to accept payments through any phone, whether it be a cell phone or a land line. Here’s how it works:
Step 1: Call a toll free phone number.
Step 2: Enter your account number
Step 3: Enter the payment amount
Step 4: Enter the credit card information and submit it
Step 5: You are then given a confirmation with confirmation number.
Step 6: Within 24-hours, the money has been transferred over into your checking account.
Learn more about Dial Pay Dial charge merchant solutions.
First Data Acquires 100% Equity of Omnipay Merchant Service
First Data made its frist equity investment in OmniPay in 2002. Then in August 2006, it took a majority equity interest in the company. Today, First Data purchased the remaining stock bringing its ownership to 100%.
This complete acquisition allows First Data customers to gain access to all of OmniPay’s vast electronic transaction products and visa-versa.
