Mistakes 101 When Surfing For Merchant Accounts

Mistakes 101 When Surfing For Merchant Accounts
{Press Release 12.13.2010 written by NCS a Worldwide Merchant Services LLC partner}
Okay here goes… as a merchant when surfing for a merchant account provider your first instinct may be to pick up the phone and make calls to various merchant account companies demanding the lowest rate possible. Big mistake! That’s what got the credit card processing business in the boat it is in now. A merchant provider simply cannot meet that obligation. However, they want your business and are in the market to please the customer.
A credit card processing representative can easily throw any rate out to you that you are going to be happy with. But, it will never be an accurate quote. Think of calling the bank for a loan, giving them your conditions prior to even filling out an application. A financial institution can give you the best case scenario and possibly the worst, but never an exact quote.
As a merchant wanting rates up front this approach will not achieve a result that you are wanting, well it may initially then you will wind up disappointed to find that you didn’t qualify for the rates that they initially quoted and may even be bound to a long term contract. This becomes the evil cycle creating that negative impression on your merchant representative and merchant account companies alike. It is not fair to the merchant company nor is it fair to you as a business owner.
Let’s think about it this way. You wouldn’t call your insurance company and ask them to give you an exact quote and demand a certain rate without them taking the time with you to do an appropriate validation. An approval and a precise quote are impossible without very specific information and certainly not in thirty seconds or less. There are so many factors involved. As with any financial product the bank must process a strict analysis to make any determination. Qualification for any financial product is always based on risk. Without a full determination can the risk be ascertained, this is what calculates a clients rate. This process needs to have the same respect as working with your financial institution for a loan. There are stringent conditions that must be met.
Merchant providers obviously want to earn customers and the very best response from a provider should be, “I will work on your behalf to get you the best possible credit card processing rates for your particular situation.” Keep in mind that rates are determined by the bank based on the merchant financial history and corresponding documentation. Merchant services are not a product a provider can price out. A risk assessment must be completed to determine the result of your rates. They look at several things; business type, credit, financial paperwork, business materials, years in business, processing volume and merchant history. Not until this is carefully reviewed by several departments will final terms be made. One may also go through this process with several banks to negotiate fair terms, which can take some time and patience, a willingness to go through thorough procedures.
If you are a business that is considered high risk or offshore and need a merchant account this process is even more stringent, expect the rates to be higher and the procedure will be lengthy.
Everyone can agree that this process is frustrating at times and somewhat confusing. Getting the very best rates and the lowest fees possible is good business sense, especially in the market today. As a merchant you must work with your provider and utilize that person as your merchant account financial adviser as only with careful analysis can they get to know your business, what the best product is for that business resulting in the very best rate for your particular scenario.

Hi there, High Risk Mad Rich here specializing in merchant accounting and I will be happy to work with you as a partner in achieving your full business potential. Give me a call today at 1-866-949-8472 or you may opt to fill out a quick and an easy application to get an analysis started right away. Thank you for giving me the opportunity to earn your business.

Obtaining a Credit Card Processing Account-In Brief

This is a brief explanation on how to go about getting a credit card processing account for your business or otherwise called a merchant account. It is vital to every industry to be able to process credit card payments in every way possible to increase revenues. First, do research and choose a merchant service company to work closely with. This processor will be somewhat of a financial planner during the first stages and will walk the business through the procedures. Fill out the online application in its entirety and do not leave anything blank. Pay the processing fee this will initiate the application screening and the bank will consider the business in a paid status to move forward on the credit card services account. Submit all documentation as requested to meet the banks criteria. Do not send out any partial statements or it will be considered as incomplete. This will only delay the process. The business will want to be sure that each document is received in good hands and are meticulous copies. Faxing documents will delay the credit card payment account process as these docs are received hazy and will not be sufficient for the bank. Keep in mind that every method with the bank is calculated as time sensitive and paperwork received late may prompt the progression to begin all over again. All paperwork must be current and can expire as time passes.
A business may be asked to adjust items on their website or in the terms and conditions this is only to meet the requirements and will ultimately solidify the business. Any and all requests must be handled immediately in effort to continue this delicate process. Also, if a merchant application result comes back as a denial the merchant will be asked to resubmit as the processor will want to then route that merchant with another bank to reach final determination resulting in credit card services. This becomes the cycle until a final approval and agreement of the terms can be reached. If a business is a special circumstance (i.e. business has negative credit, new business without established history, considered a high risk company, etc.) then the merchant should expect to go through this approval series as is common practice. Once approval is reached the integration process commences to get the company up and running with the necessary virtual terminal and payment gateways needed.

The Advantages Of Merchant Credit Card Processing For Your Business

If you are getting ready to open a business or you may have a business up and running already you must consider the advantages of being able to process payments via credit card processing. In this market today, people more often than not are using their credit cards to make every day purchases. A high percentage of business income will come by credit card and debit purchases whether you have a store or an online business; it is a necessity and will be a major part of your success.
Here are even more reasons you may want to get merchant credit card account. A major study has shown that when a business has a credit card system in place that store should experience a significant increase in sales even within the very first week. Over ninety percent of purchasing is processed with a credit card. So often these days' consumers just do not carry cash or very little. Think of your own every day purchasing. You may not buy something if you cannot pay with your credit or debit card, right? Also consumers understand that what they buy is protected when they pay using a credit card. Ultimately, every business is losing money if they do not take plastic, no question.


There are even more benefits because a business does not have to wait for checks to clear or worry about having to invoice a customer because credit or debit cards are paid out almost immediately into that merchant account. Also remember that a customer will do more impulse buying when they are able to pay with plastic for purchases. Research says that consumers buy twice as much when they can hand over their credit card. Think about it. Don't you?


In addition, when you advertise with Visa and MasterCard logos it will legitimize your business creating a sense of trust and consumers buy for this reason as well. Plus, you better bet that your competition is utilizing a system to process credit cards and you should too.


A merchant account is inexpensive for even small business considering the increase in revenue will outweigh the rates and fees involved. The set up is usually pretty quick and easy. If the business follows the policies and procedures and quickly responds with the necessary feedback and paperwork this process can go by smoothly and you will be up and running sooner than you thought possible. The biggest result is that you are going to make more money. That is why you are in business.


Before you make a merchant account decision, make sure you check MadRICH's excellent free dictionary on credit card processing

An Online Merchant Account Company Takes Credit Card Processing To a New Level

Pioneering credit card processors are now taking on the venture by teaming up with WMS to accept a large percentage of high risk businesses and start up companies.

FOR IMMEDIATE RELEASE

PRLog (Press Release) – Aug 31, 2010 – Worldwide Merchant Services, LLC has taken the online credit card processing business and managed to change history, they’d like to think even if just a little bit, in the industry. It is incredible how merchants can now accept credit cards and do in a variety of ways.

WMS has set up satellite offices around the globe with a great team of brokers each with direct contact to 100 different banks throughout the entire country getting more people approved then ever.

Pioneering credit card processors are now taking on the venture by teaming up with WMS to accept a large percentage of high risk businesses and start up companies.

Many companies are feeling the crush of the economy and are reaching out to WMS as they seek solutions that can provide. High Risk Mad Rich as he is called says this, “Due to the economy we have to change the way we do business in order to serve other businesses and we are glad to do it.” They are even able to support businesses that have experienced negative credit due to the fall out of this market. Having done research over the years and established a vast of banking relationships in order to match a merchant with the right bank resulting in approvals around the world. Merchants are able to do business via credit cards stimulating their business as well as making an overall impact on the economy.

Mad Rich explains, “…businesses should consider having a back up plan at all times so that their company never has a moment where they are unable to service the client by having their accounts frozen. It is common, especially in a high risk situation with the banks. It is very important to be prepared to have a secondary merchant account for your payment processing at all times being able to access it if the first one should fail for any reason.” WMS is able to accommodate multiple accounts as your one-stop-shop for all your payment processing accounts and MID’s for your business so that you never have this major situation happen to you.

Worldwide Merchant Services is always coming up with new goals. A big goal that they have been able to reach is to accommodate merchants with negative credit and even with that they are able to issue over 200 MID’s per month. This is also considering the fact that several of the merchants have even been turned down before. That is amazing stuff. Learn more here http://thehighriskprocessor.com/

This is all due to the fact that they have teamed up with banks that are well established and have a great backing are they able to absorb this risk. This is great news for merchants around the world. Do keep in mind that the bank must categorize a majority of these companies as a high risk business.

With all that said, WMS is the way to go. Mad Rich finalizes by stating, “That is what Worldwide Merchant Service was built for.” Watch this video
http://www.youtube.com/watch?v=7_WkXVLmH8M&feature=channel

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Worldwide Merchant Services LLC
Contact MADRICH at 1-866-949-8472
Email me anytime at rich@worldwidemerchantconnect.com
Visit the website http://thehighriskprocessor.com/about-us/ for more information

Need an update- free merchant account equipment http://ping.fm/81icw

A Worldwide Credit Card Processing Company Has Just Partnered with Canada

Worldwide Merchant Services LLC has just signed on a new contract with a Canadian processor which will bring tremendous values and savings across the entire board in the credit card processing business.

WMS will buy out businesses current Canadian leases and contracts. In doing so will substantially reduce their current rates and increase their bottom line. With WMS offering its new program it will allow Canadian merchants that are paying over-the-top Canadian leasing prices and very high Canadian discount rates to save hundreds if not thousands of dollars on their current contract.

Canada as a country received very low technology rankings on a recent study. Not only do they receive under par services but they pay higher pricing just to have it. A professor at the University of Ottawa said he wasn’t surprised of the results of the study; countries all around the world typically get far better deals with superior services than what the Canadians experience right now. Frankly, the Canadian market is far behind when it comes to credit card processing.

The technology and the streamline modern processes is what WMS is now contributing. Because WMS is based in the United States they have the leverage and the innovation that no other Canadian merchant servicing company can offer today. This combination makes for an ultimate merchant account that is second-to-none for Canada businesses.

Richard A. Kasey is the proud Owner and CEO of Worldwide Merchant Services

Just a little side note, he has a tattoo that reads Jesus is his real Superman!

Richard A. Kasey is the proud Owner and CEO of Worldwide Merchant Services since 1996. He fell in love with this business when he realized the massive benefits to the consumer. He became aware of the importance of having a streamlined process to take payments via internet or in-store and that his client’s profits were incredible; when they studied businesses throughout the country with and without these payment gateways. The results were outstanding; the findings were that with the businesses that had a payment procedure in place producing 80% more in revenues than without. Voila! Rich was hooked. His goal was to provide merchant services worldwide and to contribute to the business industry as well as setting himself apart from his competitors in customer service. Fifteen years later his dream is still being realized as he makes this possible for businesses every day. He truly has a passion for this industry and satisfying his clients and it shows when you initially talk to him and throughout the application process and on to building long term business relationships internationally. Richard is a big thinker and always strives to improve your business… participating in building your successes each day.

On a personal note, he is a family man with four children and a true Californian. He loves the outdoors and is from the San Diego area. He loves sitting by the beach or strolling along the boardwalk and as always… stopping in the local beach bar & grill for fish tacos and a Corona! Although, he currently resides in Las Vegas, Nevada and loves the nightlife, he prefers spending time with family at home or taking trips to Northern California or Oregon for camping and fishing every chance he gets!

So, there’s a little about me and as you can see I am probably just an ordinary Joe just like you! Thanks for stopping in and getting to know me! Looking forward to getting to know you also!

Payment Gateway & Virtual Terminal Information

A few very important things you need to know about a payment gateway and about a virtual terminal. First of all, what are they and why does my business need it? Let’s answer those questions for you in simplified terms.

Payment processing is the electronic means of exchanging account information from the store level to your payment gateway originating through a credit card purchase which initiates a secure encrypted transaction request electronically sent to the gateway allowing the transcation to clear. Your payment gateway then immediately corresponds with your merchant account, which corresponds with your financial institution in real time. This process typically takes less than a minute.

A payment gateway allows your business to make payments transactions to a payment processing system electronically, which is through an automatic clearing house called an ACH. An ACH is a secure payment transfer system that connects all US financial institutions. The other payment processing system is through the credit card interchange, which in essence is the clearing process of credit card transactions. They also settle and manage these transactions.

If you are an online merchant your website should be set-up with an online catalog and a shopping cart. Consumers shop from the comfort of their home and at any hour of the night and day with a click of a button. If your store doors are not open after 5:00 p.m…. not to worry, your online shopping is open 24/7. An additional way to triple your business profits.

What is a shopping cart? A shopping cart allows consumers to purchase items from your business website via online and is connected to that payment gateway which is connected to your internet merchant account which is connected directly to your financial institution. Again, getting that money electronically in your account in seconds.

What is a virtual terminal? It is a virtual point of sale terminal, which is another secure method of processing payments using a computer. This method allows you to key in the consumers information, which is bundled with a payment gateway that enables you to process a credit card transactions over the internet. This process is necessary for a business that processes a majority of orders via phone, mail order or fax.

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It is imperative for your business to be able to process payments in an array of different ways to accommodate each and every consumer. Plain and simple! In exchange for nonminal processing fees you get rewarded by the added profits. In this market you must be set-up correctly in order to make the most money from your business. If you are unable to process a payment via check the customer walks away, if you are unable to process a credit card payment that customer walks away, if you are unable to process a debit card, guess what? Your customer will walk out or go to another website that can accommodate that purchase. Each purchase whether is be for $5.00 or $500.00 adds up to money in your pocket. Get the picture? This is why you are in business to make money… bottom line, literally! So be sure your  business is set-up efficiently in advance and you will be running smooth prior to your Grand Opening.

Attention Bar Owners That Want to Increase Their Gaming Floor Cash Flow

For Release July 2, 2010

A local Las Vegas merchant company has started a partnership to supply cash advance machines for bars and taverns so that they are able to get cash back on the gaming floor quickly and more efficiently. With the newest state of the art touch screen terminal in their facility this will allow for a debit card or credit card to maximize balances even after the customer’s daily limit has been reached resulting in more cash immediately in the hands of the customer so that they can keep playing.

It is a pretty simple error free secure system that their customers will appreciate. The process takes just a few minutes starting from a swipe, scan, receipt and cash in hand! Recently, these machines were featured and on display in action at the Global Gaming Expo. These systems or the like are being utilized at some of the major hotel and gaming casinos such as: The Paris, Planet Hollywood, Rio and Caesars Palace.

Businesses lose money every day when their customer’s debit card at the ATM machine has reached its limit or has inactivated a card due to bad pin tries resulting in loss of business revenue. That customer may still have money in their account but doesn’t have access to it. This system alleviates that scenario and allows not only for automatic cash to the customer but allows for more money on your gaming floor immediately by rolling the transactions into a point of sale debit or a credit card advance gives them cash access.

Automated cash access is a critical part of business productivity. Any down time at all is costly and it is imperative for gaming operations to offer accessible ways to their customers money and as securely and reliable as possible. This system is the smart choice for those seeking to place the most advanced solution on their casino floor.

There are different kiosk types to choose from including various designs either freestanding, countertop or wall mounted, whatever suites your establishment. The benefits of the cash advance terminal system are numerous and obvious but to name a few: players are going to spend more time gaming, it will increase cash flow for all transaction types, it allows customers to receive funds for cash advance transactions electronically and eliminates errors with the drivers license reader. Customers want convenient and immediate.

 

having trouble getting approved for your merchant account? go to www.worldwidemerchantconnect.com

The Benefits of Having a Merchant Account

May 20, 2010
Author: by Nikki with WMS LLC 

We are a "I want it now, pay later society" 


The Benefits of Having a Merchant Account

There are more than several benefits of having a merchant account for your business. The biggest reason is that you want higher average sales per customer. The average person spends more when they are able to utilize credit. Typically 80% of your revenue will come from debit and credit card transactions. The average consumer does not shop with cash and will walk out and purchase nothing if you cannot accommodate the need. Same with internet shopping, if you have what they want but cannot accommodate that purchase they will go to another site that can. You’re talking huge revenue loss! In order to succeed in business you must remain competitive in the market. Most consumers do not feel that plastic is hard cash and for that reason they are at ease spending more money, just knowing they can pay it later. It’s a more relaxed way of shopping and they get what they want and right now. We are a "I want it now, pay later society" 

Get with the program - keep up with the market! 

Get a hold of Mad Rich at thehighriskprocessor.com he can get an approval within 24 hours... starting now

Together let’s get your business functioning and earning more money today. Rich can process any business type low to high risk, domestic or offshore and get your payment gateway and/or virtual terminal up and running in no time. He knows the in and outs and can direct your information to the right bank to get you approved, even with bad credit or if you have been turned down before.
Be ahead of the market and start earning substantially. Call Mad Rich today at
1-866-949-VISA (8472) or go directly to www.worldwidemerchantconnect.com

Let's Talk About Bad Credit When Applying For A Merchant Account

May 18, 2010 published by Nikki with WMS

Let’s Talk About Bad Credit When Applying For Your Merchant Account
Are you able to obtain a merchant account if you have bad credit? Well, let’s talk about it…
Bad credit is a definite barrier to overcome when applying for a merchant account. But, there are ways around this obstacle to make it possible… calling someone with experience and know-how like Mad Rich at thehighriskprocessor.com can make all the difference even if you have been turned down.
A merchant account is an absolute necessity when being competitive in the market. I know when I buy anything these days it is via credit and debit card. Due to high risk of identity theft consumers have opted not to shop with cash or check any longer, which means that if you do not have a payment gateway or virtual terminal to process credit cards and debit cards you are losing substantial revenues accounting for over 80% of return.
Approval within 24 hours… is starting now!
Go to www.worldwidemerchantconnect.com
Have other banks turned you down? There are a few things that your merchant processor, High Risk Mad Rich can do for you with bad credit when your application has been denied. Other options may be having your close relative with good credit or business partner as a co-signer for your LLC, which may be considered in some cases or providing a reserve can lessen the risk.

Mad Rich has close to 40 banking relationships worldwide and understands what their qualification process is and will push your application through to get your business up and running!

Worldwide Merchant Services LLC has Launched a Merchant Account Program for High Risk Businesses

Worldwide Merchant Services LLC Has Launched Solutions For High Risk Merchant Businesses Worldwide

Mad Rich Kasey, the CEO of Worldwide Merchant Services announced that after months of intense research and years of building strong relationships with banks worldwide has launched a program for merchant solutions to businesses that are categorized as high risk(offshore or domestic). With this economy the way that it is we must begin to think differently. Unfortunately, in this country it has become extremely difficult to obtain a merchant account, much like a bank loan.

Mad Rich explained that with his business know-how and diligence in creating a streamlined process is now well positioned to accommodate these high risk merchant accounts so that businesses can get up and running and a payment gateway is available to them in the shortest amount of time possible. Time is money!

Online pharmacies, escort services, online dating sites, lottery or raffle dealings, adult businesses, telemarketing, all types of internet merchant accounts that do a high volume are considered to be at a higher risk for the banks and these company types struggle with getting approved time and time again.

Worldwide Merchant Services LLC is the global leader in the payment processing industry. The company specializes in providing results for internet merchant accounts, offshore merchant accounts, high risk credit card processing, gaming merchant accounts and international merchant accounts in which otherwise may have difficulty in obtaining approval for online credit card processing.

Mad Rich is very laid-back when he says you can even call him directly toll free anytime at 1-866-949-VISA (8472) or fill out his no-obligation application online at www.worldwidemerchantconnect.com you do not have to run around in circles anymore!

What Makes A Merchant Account High Risk

May14

Author Nikki with WMS

What makes a merchant account high risk?

This depends on your service provider although providers have formulated guidelines to categorize certain business types. Bank providers will be looking at several different types of things:

Chargebacks- Certain businesses types have a high ratio of chargebacks

Credit card fraud- Some businesses are more vulnerable to fraud

Legality- This always poses a high risk for business that may be considered ‘closely- related to being illegal’ or questionable

Marketing- Products or a service that may promise quick results that the consumer may be easily unsatisfied with puts this category in a higher risk

Target Market- International markets can be considered higher risk

Business Operation- Operation type will have an affect on the risk factor: telemarketing, multi-level marketing, third-party orders

Type of Merchant Account- Wireless or internet processing is always going to be high risk vs. a merchant account in which the card is presented (Card Present Merchant Accounts)

www.worldwidemerchantservicesconnect.com

10 Things To Know About Your Merchant Account

May 11, 2010 Author: World Wide Merchant Services LLC
Merchant Processing Information

Ten Things To Know About Your Merchant Account

Are you overwhelmed when you attempt to decipher your merchant processing financial statement? Here are ten things (I will give you 11 things) you absolutely need to know to begin to even understand what merchant processing is all about...
by World Wide Merchant Services LLC

1. There are thousands of merchant businesses out there that promise rates that are not possible to achieve
2. Think of a merchant processing as a tangible product that can fluctuate in price depending on what time/day you purchase it, some products can increase substantially due to demand (think of real property or the cost of fuel)
3. Each single purchase equals one swipe/one transaction
4. Every time your customer swipes their credit card at any given time that particular transaction may have a different rate depending on the card type and what tier it may fall under
5. The tier level each credit card falls under is under the control of the processor (the bank)
6. The bank puts each credit card into an individual tier, which can have so many variables
7. Additional charges that are not controlled by merchant providers are added fees that the credit card brands(Visa, MC, Discover, etc.) charge
8. International transactions can be the most costly to the consumer as well
9. The highest cost that you will pay is what is called the interchange rate set by the banks, which again merchant companies have no control over
10. Interchange rates plus World Wide Merchant Services pricing is often substantially lower that if your rates were tiered over the same volume
11. The underwriter (the broker, in this case your World Wide Merchant Services Agent) works on your behalf in trying to get you the best bank for your company type (low, medium to high risk) similar to a lending tree to find the best lender, the better rate... same concept

World Wide Merchant Services LLC is an honest company that has done their homework! We can not wait to service you! Call us anytime toll free at 1-866-949-VISA (8472)