Business Accept Credit Card

In other words, we have a website for kids, but in order for them to use our site, we have to have a parent use their credit card to verify their kids have their permission. According to the FTC, it's the only method (other than a signed form) to verify age of an adult granting permission. How do I use a credit card processor for authentication only? i.e. no charges.

It has been a few years since I worked with an online credit card account. However, what I remember is this: The processing is actually done in two steps. 1) The verifying --Verifies that it is a good card, and that the amount of the sale is available in the account, and 2) Settlement -- Settlement is when the "charge" actually happens. I actually had to go online and select the transactions for "settlement". This was because we were not allowed to charge the card until the product shipped. So, I suggest that there may be a way for you to verify, but not settle. It may be that you could void the transaction as soon as it was verified. That part I'm not sure about. You may also be forced to verify with an amount. You could use something nominal, say $.50. Again, you would then need to void the transaction.

2006-11-13 18:47:07 by Danny P

To accept credit cards for a home business, sign up for a Paypal.com account that can accept credit card information, or visit a major bank to ...

I have a small restaurant business that makes around 300k a year. I am thinking about accepting credit cards because many customers want to use credit cards but we only accept cash. How much would the startup costs be for getting a credit card system in place? Also, how much roughly are monthly fees and how much are transaction fees (estimates are fine)? Are there any contracts when signing up for credit card processing? In all honesty, would it be best for me to stay cash only or would it be better (again in your opinion) for me to go with a credit card system.

One more thing, we are more of a seasonal business in that we get most of our customers (about 75% of our income) during May-August and in November-January. Other months the business is slow.

Finding a credit card processing company can be overwhelming due to different pricing structures and every one claiming to have the lowest rate.

The truth is your rate should be determined by your average size ticket and industry. If you have an average tiocket (sale) under $15 you can get a very low transaction fee about $0.15. Your percentage rate will be a little higher about 1.85% for debit and credit cards. That is the best program for you due to the transaction fee having a greater affect on low ticket transactions.

If your average ticket is above $15, you will pay a transaction fee between $0.20 -0.25 and a percentage rate of about 1.80% for credit and 1.40% for check cards.

The next thing you want to look out for is what you pay for key entered transactions and corporate cards. This is very important. Some place will charge a very low percentage for swiped personal check and credit cards, but charge over 4% for rewards and hand keyed cards. BE CAREFUL.

Now you need to know the difference between a pin based debit and a check card. A check card is charged different (see check card rates above) due to how it is processed. If a customer swipes a debit card and signs for it instead of entering their pin #, you will be charged a % and trans. fee. If they enter their pin #, you can get a flat rate of around $0.65 trans fee and no %. It is important to know your business, and decide wether or not your average ticket is high enough for a pin based transaction to be worth it or not. Usually a $40 or higher transaction amount is when you want to use that pin pad.

Now that you are an expert on pricing, LOL, we need to discuss equipment. In a resturaunt environment, having a tip option Im sure is very important. Be sure to get equipment that has a great tip feature, usually Omni 3750 or Hypercom T7 Plus or better.

Contrancts: Most every credit card processor has a 3 year contract agreement. Very common practice.

You can find out more about rates and other programs here:

http://www.omnitranz.com/freerates

I hope this helps! Good Luck

2007-02-12 05:11:00 by Keiya K

Price: $79.95

Credit card data is immediately encrypted once the card is scanned via your iPhone; you'll get authorization in seconds
Digital signatures; e-mail or text message receipts; sync account information with QuickBooks
Quick and easy way to accept credit cards anytime, anywhere using your iPhone 4

I want to be able to accept credit cards at my customers home when I perform my hair service. About how much will that cost? Where do I get the machines?

You're looking for a merchant account. A lot of companies offer merchant services.

Here are a few out of thousands of banks that offer merchant accounts-

Chase Bank
Bank Of America(My preferred choice)
PayPal

Keep in mind that there are NO free merchant services and you will have to purchase the equipment(averages $250) and have either a phone line or a high speed internet connection available. And merchant accounts are subject to credit approval.

And most average no more than $45 per month with a small interest charge on each time you swipe a card.

Many banks in your area offer merchant services. Choose the bank that you primarily use for your personal/business checking accounts.

The way it works is when someone uses their credit or debit card to pay for what you offer, the funds go into your bank account, so that's why it's best to use a bank in your area.

2009-04-13 20:44:53 by Timmy

Price: $39.95

Track payment history and use reports to help you ensure timely payments.
Create custom invoices and estimates, bill customers for recurring charges and track payments.
LIVE Technical support available 24/7/365

Based on (Authorize.net)'s add, If you were an online merchant, and looking for a company to process your credit cards and electronic payments, what would be one of the first questions that you would ask a company such as this one???

A quick FYI, Authorize.Net is not a payment processor. They are just a gateway which means they just act like a credit card terminal in a store. The real questions you will have will be for the processor who actually processes your payments for you.

Here's a good list to start with:

1) Am I locked into a contract?
2) Is there a monthly minimum fee?
3) Is the equipment/software you are selling proprietary?
4) How long does it take to get my funds?
5) My average sale is $xx.xx. How much would I pay with you?
6) What will my fees be if I don’t do AVS?
7) Is this an introductory rate? Can my rates change?
8) What makes you different then the other guy?

Always do a comparison of providers as there are many different ways to say the same thing. I linked to a comparison worksheet that should help you out with this.

2007-04-26 03:44:44 by ebizartistry

A few days ago I started working for a company as an independent rep. They make it possible for businesses to accept credit card payments. If a business already accepts credit card payments, they make sure that their monthly payment is much less than what they currently pay per month. Since I am new to this, How do I find businesses that need this service or want to pay less than what they are currently? Thanks to anyone who can help!

Encore Payment Systems (www.encoreps.com) presets qualified appointments for their independent reps. (On average I get 3 pre-qualified leads a day.) This helps get our foot in the door. Showing value and lowering costs are imperative to our business, but without that extra push, it would be far more difficult to reach out to business owners. The process is very simple but highly effective. Basically, the marketing center calls the merchant. In this step the importance of having our service is discussed. Credit card processing, debit card processing, electronic processing, and a wide array of merchant services are briefly introduced. Then the marketing center gets a verbal request from the merchant allowing us to set up an appointment. After the appointment is set it is up to the rep to present the materials and make the sale. This system has proven itself with me and I recommend to others who are interested to visit our website www.encorepaymentsystems.net to read success stories from our sales force.

2008-08-25 13:01:23 by A B