2011 | Merchant Account Blog

MerchantService.com Announces New ISO / Agent Program

MerchantService.com announces their ISO / Agent program for experienced merchant services sales offices and ISO agents. The program features an exclusive, registered brand name of Merchant Service Group of “geographical area” for each ISO/Agent.

“To maximize your sales success and build long-term business value ISO / Agents need to market under their own unique brand name, not that of a bank, processor or ISO. Our program is based on them doing so,” says Gino Kauzlarich, President of MerchantService.com Inc.

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Merchant Services now offers eCE Cash Advance Program at MerchantService.com

Sarasota, FL – December 6, 2011 – MerchantService.com, a leading merchant services provider, is pleased to announce they now offer the eCE Cash Advance program which provides business cash advances through account receivable financing.

Business Cash Advances are not loans, they are upfront lump sum cash payments against businesses future credit card processing sales and electronic payments which is repaid with accounts receivable financing, utilizing your credit card sales volume. As goods and services are purchased by customers, a small percentage of each electronic payment is collected from the preferred processing bank.
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Durbin Amendment Starts at the end of October – Time to change your Merchant Account?

There has been a lot of buzz about the Durbin Amendment and what the ramifications of it will be. The amendment is set to go into effect at the end of October and the anticipation continues to grow. There has been a lot of speculation as to what effects it will have on the merchant account of many businesses but there are many differing opinions. But don’t worry, your business will still be accepting credit cards at a reasonable rate once it goes into effect. In fact, most opinions believe that it will actually be better for the merchant account of businesses. Rather than leave its effects up to hearsay, here is a look at the Durbin Amendment.

The news is mostly good for companies and their merchant account. One of the highlights of the amendment is that it merchants will now have a choice in what network they decide to process their transactions over. Until now, businesses were often limited to one or two options for which network to use, but the Durbin Amendment has opened the flood gates. This makes the credit card services of company’s much more dynamic and customizable, a must for every business. Also, rather than staying at a fixed percentage of the transactions, interchange fees will now only be as high as 24 cents per transaction.
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Durbin Amendment to Take Affect Towards The End of October: Changes To Your Merchant Account

The Durbin Amendment is set to go into affect in October and it could have some big ramifications for merchant account holders and merchant account providers alike. The Durbin Amendment was a last minute addition to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and although there are many changes that will soon go into affect, it remains to be seen exactly how it will effect merchant account processing and the cost of conducting credit card services. However, many of the pros and cons of the changes for merchant account holders can already be seen but it won’t be completely evident until the amendment goes into affect in October.

In short, the Durbin Amendment caps debit interchange fees at $0.21 per transaction. However, fees could climb as high as $0.24 cents per transaction if the issuer implements certain fraud protection measures. The other main part of the amendment stipulates that merchants now have a choice in what debit network they process their transactions over. Before the amendment, many businesses could only process over the STAR network for their VISA transactions even if they preferred the PULSE or NYCE networks. The amendment gives businesses the freedom to choose between at least 2 networks which, if the amendment works as intended, should increase competition and drive down prices for merchant account holders which should save consumers money as well.
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How To Accept Mobile Credit Card Payments

Accepting credit card payments is critical for the modern business. It’s pretty rare that a company doesn’t accept credit card payments, but when you do come across a business like this, it feels very antiquated. With mobile technology developing by leaps and bounds, soon mobile credit card payments will be par for the course and any company not utilizing this exciting technology will feel antiquated as well. However, accepting credit cards with your mobile device is surprisingly easy, and it is a great way to update your merchant services.

Setting up your merchant account on a mobile device is surprisingly simple. The first thing that you will need to do is to create a merchant account. This is a quick process – you just need to enter your bank account number and other business information. You can usually either do this over the internet or via fax. Once you’re approved (usually same day) you will be sent your mobile credit card reader device. Once you receive the device, you will hook it up per the installation instructions, then download the app for it and you are open for business.

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