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