Fatal Payment Mistakes That Are Killing Your Conversion Rates

Online Payment Mistakes

NOT ASSURING THE SAFETY OF THE CUSTOMER’S INFORMATION

While making the online purchase, a customer has to enter a great number of personal information to your website. Not to forget the debit/credit card or internet banking details to make an online payment. If you are not providing proper security then there is a high possibility that the customers will not make the purchase.

So, it is always advised to all the merchants to offer proper security and privacy information to the website for the security of the product as well as the customer.

FORCING THE CUSTOMER TO CREATE AN ACCOUNT BEFORE MAKING PAYMENT

Every merchant needs a customer database for business but forcing the customer to create an account every time he/she visits your website can be bad for business.

Furthermore, asking too much data while signing up can also force the customer to abandon the website.

But we also understand that account creation is important, and therefore to avoid such issues, you can try these tips:

Instead of asking to create an account, offer services like Sign In with Google or Facebook or any other social media account.

Furthermore, you can ask for address details and other personal information at the time of payment. Do not ask unimportant details.

Also, ask the customer to save his personal information to avoid entering them again and again. Make sure you assure the safety of this information.

Other than that, you can also provide FAQ’s and customer service option to answer the query of the customer.

NO CUSTOMER SUPPORT SERVICE

Offering customer support has become as important as providing a privacy policy.

Providing customer support gives customers a trust factor that makes them feel appreciated hence making them a loyal customer. Along with that, the customer also believes you are a genuine service provider.

Now if you are a small firm and unable to offer 24/7 support then you can try adding FAQ section. Other than that, you can also offer email support or chat support service to the customer.

• REDIRECTING TO A DIFFERENT WEBSITE TO MAKE THE PAYMENT
• CHECKOUT PROCESS IS CONFUSING AND DISTRACTING
• LACK OF PAYMENT OPTIONS

If you are still confused and do not know how to resolve the Online Payment Mistakes that kill Conversion, just get in touch with Merchant Stronghold by placing a call at the toll-free number i.e. +1 (888) 622 – 6875. You can also reach us by visiting www.merchantstronghold.com or try our email support service.

Few Ways to Choose Merchant Service Provider

In this blog, we will try to focus on some important factors that can help you to choose the best merchant service provider for your business.

1. Clear and Transparent Fee Rates

This is the most important thing to study before selecting a merchant account. Many times, a provider will charge you very less processing fees to entice you to open an account with them but may charge very high fees in the name of other fees. A PCI fee is one such fee that a merchant has to pay to safeguard both merchant’s and customer’s account information. So, you need to consider all the rates and then finally choose best merchant service provider with transparent fees structure.

2. Study the Fraud Detection Program

We have seen a lot of evidence of fraud happening in the cyber world in recent times. Fraudsters are now moving toward the small and medium-sized merchants because they are considered to be an ‘easy target’. So, one needs to be aware of the data breach security program covered by the service provider.

3. Stay Away from the Misleading Advertisement

Advertisement can really be a disguise. The basic idea of an advertisement is to enlighten customers about a company’s product with proper information. But it doesn’t seem to be happening all of the time. Many times companies hire individuals’ agents having no relevant educational background or no interest. Well, there are other reasons too, which led them to promote their product in a non-transparent way. So, try not to fall into any such trap. Conduct proper internet research and choose the best merchant service provider, which fulfills all of your needs.

4. Post-Sales Customer Service Assistance

It’s not just about your hardware or software products that you require a customer service assistance after the purchase of the product, customer service for presales and post-sales is required for almost each and everything that we buy or buy from. It can be in various forms. Some companies will assist through email and chat, some may even provide you with a dedicated representative for your account.

5. History of the Merchant Account Provider

Last but not least, you need to figure out the behavior of the merchant account provider with the proper market research. Proper market research will guide you in terms of examining the previous background of the provider. So, we hope that this article will give you a good idea on how to choose the best merchant service provider for your business.

Merchant stronghold specializes in high risk and offshore merchant account. For more information on merchant services, Payment Gateway you can reach out to us via email @ info@merchantstronghold.com

Setup A Merchant Account for your High-Risk Businesses

The first thing you have to do

Determine the way credit card payments will work for your company. This means that you need to figure out the type of credit card payments that you want to accept and how you accept those payments. You need to see if you accept website payments if you want to use a POS solution or mobile payments. You will also have to think about the amount that you get from credit card sales, to begin with.

Aside from that, when you create a new merchant account you will need to think about the merchant payment processing and you will also have to make a comparison between all the services offered to you. This way you will be able to see which one actually delivers the best value for your money, so you should consider that as fast as possible. Each merchant account provider has a flat rate that will be charged each time a payment is processed or it might have a percentage fee based on the total transaction amount.

Stay in Control

Sometimes you will see that merchant provider options will have software and payment acceptance solutions. Of course, if you do opt for these merchant services you still need to have something that allows you to be in control. It might be challenging at first, but results will end up paying off quite a bit which is exactly what you want to focus on here. Having control over the way your customers pay is very important to try to keep that in mind.

Some of the merchants will set up your account and they will just require you to undergo a credit check and offer a personal guarantee. The application process might take some time though. Once that is done, the setup process will be completed and the results will be impressive for sure. What you will like here is the fact that the process is seamless, once you apply for the merchant account, the provider will take care of everything. If you want to skip on some taxes or just want to deal with companies outside your country, you can work with an offshore account provider.

As you can see, setting up a merchant account isn’t that challenging, to begin with. It will take some time though, so try to keep that in mind and it will help you quite a bit which is exactly what you want to have!

How Can I Make Sure That I Am PCI Compliant?

Many people believe that PCI compliance is required by law; however, except for in a few states that have adopted the PCI DSS as a part of their consumer protection laws, it is not. You won’t go to jail for not being PCI compliant, but that doesn’t mean that there are no consequences.

For one thing, you could be fined by any of the credit card companies that you accept through your merchant account. The size of the fine varies, but it can be quite large if a data breach occurred that resulted in significant financial losses.

More importantly, your business’ reputation could be hurt. The whole purpose of PCI compliance is to take steps to improve the security of customers’ financial data. While it’s still possible that your system could be hacked even if you’re compliant, if you don’t adhere to the best practices established by the guidelines, you’re at a much greater risk.

Studies have found that 60 percent of small businesses that suffer from data breaches that involve customer credit card numbers are out of business within 6 months to a year. The reason why is the breach of confidence. When word gets out that the company’s systems are not secure, their reputation is damaged, and it can be hard for a small company to ever rebound. With so much riding on your brand image, it’s not worth the risk, especially when you consider that being PCI compliant does not require much work for merchants.

Much of PCI compliance is the responsibility of the payment gateway or merchant services provider that you choose. The best thing that you can do to ensure PCI compliance is to choose a provider that meets all of the standards set forth by PCI DSS and install antivirus software on your computers.

You should also develop policies and procedures that safeguard your customers’ credit card information. Only employees that need to know the information should have access to it, and each member of your team who has access should have a unique account or ID that is password protected. Also, you should make sure that your data is kept safe by storing it on an off-site data center that is PCI compliant.

Merchant Stronghold offers merchant accounts through a payment gateway that is fully PCI compliant and allows businesses to accept electronic payments anywhere. For more information about our services, please contact us today.

How to Accept Payments Through Echeck Processing?

Echeck Processing Merchant Account for High-Risk Business

If your business already accepts credit and debit cards, your present Merchant account Provider might be willing to incorporate ACH preparing to your effectively existing system. Organizations, for example, Merchant Stronghold offers both cards and Echeck Payment Services to online businesses.

Once you’ve recognized a processing account that concurs with your requirements, the time has come to fill out the application. The data required will incorporate your evaluated processing volumes, and in addition the years your business has been in operation. The application process is normally quick and simple, and approval typically takes a couple of days.

How Echeck Processing Works?

In some ways, Echeck processing is like paper check handling, although it is faster and more efficient Echeck Payment Processing generally takes place in the following steps.

The purchase is Approval- To approve the purchase, a client can either round out an online form or converse with the merchant specifically through a recorded telephone call. Simply, after the approval, the merchant can pass the check data to the payment processor.

Payment is Completion- The payment processor supervises the immediate withdraw of the funds indicated by the check from the client’s bank account, and prints out a receipt.

Recurring payments with Echecks- Credit Cards and Debit cards are popular ways to make an online payment. With regards to recurring transactions, e-checks make the sense. Thus, ACH billing is popular among property managers as a reliable approach to gathering the month to month rent.

Fund deposits into the merchant’s bank account- It takes a few days in the wake of starting the transaction for the check to clear and the money to reach the merchant’s record.

Businesses that charge clients settled expenses at each finish of a specified term should, therefore, embrace e-checks as an essential payment technique.

High-Risk Merchant Account for SEO Industries

If you are offering digital marketing services, you have come to the right place. Online marketing services such as SEO, SMO, SMM, website design, and development are businesses where a merchant account is a prime necessity.

Of course, it’s a digital age and you can’t tell your clients to send you a cheque. It will surely be a stunner for your client. Even you will think twice before putting alternatives in case you can’t accept payment online. So, it is crucial to make use of all the payment accepting ways so that things can go smooth. And, your clients can stay happy and satisfied.

Who Requests a High-Risk Merchant Account?

SEO / SEM and Web Development organizations are commonly categorized as high risk in the credit card processing business. In fact, the label high risk applies to any business with one or more of the following characteristics:

• A history of high chargebacks,
• Irregular very high-ticket sales,
• In an industry that US sponsor banks and processors are unwilling to support,
• Highly regulated industry,
• An industry with long delays between billing and delivery of the good or service, or
• An industry that relies upon recurring billing, free trials, or memberships, or

With respect to web development, SEO, and SEM businesses, typically they have large ticket sizes (aka large average transactions), they have a significant delay between billing and delivery of the good or service, and as a general rule, most US sponsor banks are unwilling to write these businesses. For those reasons, SEM, SEO, and Web Design / Development businesses are almost universally characterized as high-risk businesses, meaning they need a High-Risk Merchant Account.

Familiar with Online Marketing Industry

While any business involved in web marketing is an appropriate fit for our High-Risk Merchant Account, startup and existing businesses in the following sub-industries are some of our most common clients:

• Search Engine Optimization
• Search Engine Marketing
• Email Marketing
• Website Design
• Template Design
• Web Development
• Software Development
• Mobile & Desktop App Development

Contact us to start an SEO Merchant Account with Merchant Stronghold in as little as 48 hours!

Pleasant Way To Fight Credit Card Transaction Disputes

HOW IT WORKS

When a brick-and-mortar business accepts credit or debit card payments for its products or services signature is available from the customer. The customer is ordinarily physically present to present their card for payment. Having a signature is the merchant’s proof that the customer authorized payment. The product or service delivery was there and the customer was initially happy with their purchase.

But, when an e-commerce business receives payment for an online order. Cardholder verification, proof of delivery and customer satisfaction is more difficult. The reason being there is no visual card examination or in-person customer contact with a written signature authorization. These are defined as card-not-present transactions.

Customers who use credit and debit cards to make online purchases have an advantage over other customers. Because they can contact the bank who offers their card and ask for their money back when they are unhappy with a purchase. That too without first contacting the merchant.

TRANSACTION DISPUTES

There are a variety of reasons for transaction disputes and cardholders have 60 days in which to file a dispute.

As soon as a cardholder disputes a transaction, one of two things will happen. The issuing bank will make a retrieval request or initiate a chargeback.

When an issuing bank contacts a merchant to obtain information about a transaction before initiating a formal chargeback case. This is an issuing bank’s first attempt to settle a dispute and can get via email or over the phone. Or through a conference call with the customer and the merchant.

During this process, the merchant gets an opportunity to explain why the transaction is valid. As a result, the retrieval process is not often used because customers are reluctant to confront a merchant over the phone.

Credit Card Payment Processor

So, successfully fighting a chargeback demands knowledge of the rules and regulations set out by card brands, banks, and payment processors. Also, the chargeback reason codes. Each card brand has their own chargeback reason codes. This defines the general justification a customer has for filing a chargeback. And, helps merchants know what documentation is must validate transactions.

So, the key to validating transactions and winning or losing chargeback claims depends on having a broad knowledge. Knowledge of online payment processing and the transaction dispute resolution process. To be effective, merchants need to have a specially trained in-house team. Or to hire an outsourcing agency to handle chargebacks effectively.

Cyber Security tips to protect your Online Small Business

Broadband аnd information technology аrе powerful factors in small businesses reaching nеw markets аnd increasing productivity аnd efficiency. However, businesses nееd a cybersecurity strategy tо protect the thеir оwn high-risk business, thеir customers, аnd thеir data frоm growing cybersecurity threats.

Train employees in security principles:

Establish basic security practices аnd policies fоr employees, ѕuсh аѕ requiring strong passwords, аnd establish аррrорriаtе Internet uѕе guidelines thаt detail penalties fоr violating company cybersecurity policies. Also, rules оf behavior describing hоw tо handle аnd protect customer information аnd оthеr vital data.

Protect information, computers аnd networks frоm cyber-attacks:

Kеер clean machines: hаving thе latest security software, web browser, аnd operating system аrе thе bеѕt defenses аgаinѕt viruses, malware, аnd оthеr online threats. Set antivirus software tо run a scan аftеr еасh update. Install оthеr key software updates аѕ ѕооn аѕ thеу аrе available.

Provide firewall security fоr уоur Internet connection:

A firewall iѕ a set оf related programs thаt prevent outsiders frоm accessing data оn a private network. Make ѕurе thе operating system’s firewall iѕ enabled оr install free firewall software available online.

Create a mobile device action plan:

Mobile devices саn create significant security аnd management challenges, еѕресiаllу if thеу hold confidential information оr саn access thе corporate network. Require users tо password protect thеir devices, encrypt thеir data, аnd install security apps tо prevent criminals frоm stealing information whilе thе phone iѕ оn public networks. Bе ѕurе tо set reporting procedures fоr lost оr stolen equipment.

Make backup copies оf important business data аnd information:

Regularly backup thе data оn аll computers. Critical data includes word processing documents, electronic spreadsheets, databases, financial files, human resources files, аnd accounts receivable/payable files. Backup data automatically if possible, оr аt lеаѕt weekly аnd store thе copies еithеr offsite оr in thе cloud.

Control physical access tо уоur computers аnd create user accounts fоr еасh employee:

Prevent access оr uѕе оf business computers bу unauthorized individuals. Laptops саn bе раrtiсulаrlу easy targets fоr theft оr саn bе lost, ѕо lock thеm uр whеn unattended. Make ѕurе a separate user account iѕ created fоr еасh employee аnd require strong passwords. Administrative privileges ѕhоuld оnlу bе givеn tо trusted IT staff аnd key personnel.

• Secure уоur Wi-Fi networks
• Employ bеѕt practices оn payment cards
• Limit employee access tо data аnd information, limit authority tо install software
• Passwords аnd authentication

If you want more information Cyber Security related you can contact us - +1 (888) 622-6875.

How to choose the right Payment gateway for Trial Business

Importance of Getting a Dedicated Trial Continuity Merchant Account or Payment Gateway

Due to the nature of trial continuity businesses, subscription merchants are generally considered high-risk merchants within the credit card processing industry. This is likely because of the higher frequency of credit chargebacks among the subscribers. That is why you trial based business can find it hard to open an appropriate merchant account using traditional credit card processors.

Luckily, there is a solution that trial continuity businesses can use that specifically caters to high-risk subscription merchants. For example, Merchant Stronghold can enable merchants in the trial based businesses to accept seamlessly accept credit cards and effectively grow their businesses. Partnering with us will lead offer your business a more efficient Payment Gateway, beneficial customer support and ultimately improve your sales.

How to Choose the Right Payment Gateway or Merchant Account

Reliability

One of the main considerations to keep in mind is reliability. The last thing any subscription merchants would want is to have their credit card processor to fail just after launching new products. In addition, reliability enables your business to maintain a regular cash flow, which is essential when running any business, especially a trial offer or continuity based one.

Trust

Besides having a reliable Payment Gateway, subscription merchants must also ensure that the merchant service provider is abiding by the rules and regulations. This is very important, particularly with the current increasing concerns of both the FTC as well as credit card firms. Working with a trusted provider like Merchant Stronghold can help you avoid legal problems that could easily bankrupt your business.

Dedicated Service

High volume subscription merchants stand to benefit a lot from partnering with a suitable Payment Gateway that is customized to their needs. By partnering with us, you get a trial continuity merchant account that is specially designed to cater for your business that ensures that you are not losing large chunks of your profit margins on each transaction.

Conclusion

Trial continuity businesses have been having a difficult time getting merchant accounts simply because they are considered as high risk. Many companies are forced to look for credit card processes overseas to continue running their business. Luckily, Merchant Stronghold offers a dedicated and customizable Payment Gateway for subscription merchant’s right here in the United States. Contact us today at www.merchantstronghold.com to see how we can help you secure your own subscription merchant account.

Real Time MasterCard Account Updater Service Globally Launch By Adyen

NEWS PROVIDED BY - Adyen

Adyen the payments platform of choice for many of the world's leading companies, today announced its direct API integration with the Mastercard® Account Updater service. Qualified merchants processing with Adyen globally can now increase revenue from card-on-file payments by automatical ly updating Mastercard accounts in real time.

"The subscription economy is experiencing massive growth, with 100% increase year-over-year for the last five years1. Beyond digital services, Adyen is seeing a strong uptake in physical products like cosmetics, fashion and bicycles now offered as a subscription service. Payments are a critical touchpoint for ensuring uninterrupted service for customers and sustained revenue for merchants," said Roelant Prins, the chief commercial officer at Adyen. "Adyen, together with Mastercard's Account Updater, is focused on making the highest number of payments succeed by automatically updating card data at the point of transaction, preventing involuntary card declines due to expired or replaced cards."

The direct API connection helps to prevent card declines due to account changes caused by expiration dates or new replacement card numbers, among other reasons. Microsoft and Twitter are among Adyen's merchants using the Mastercard Account Updater service.

Adyen's use of the Mastercard Account Updater API can be activated instantly with no merchant integration required. Adyen also provides merchants extensive live performance data including authorization rate impact by issuing bank and decline code. 

"Today's consumers have their card information stored at multiple online stores and in the event, the card gets replaced, it is an inconvenience to remember and update the card details at all the stores," said Johan Gerber, executive vice president of security and decision products at Mastercard. "As the first payments platform to use our Account Updater API, Adyen is giving merchants a powerful tool to provide a better, seamless consumer shopping experience by automatically updating the details."

Adyen is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Netflix, Spotify, Casper, Bonobos and L'Oreal.
Also, Read - Merchant Account - Payment Gateway 

Offshore Merchant Accounts is Crucial to your Business

Offshore Account - The term ‘offshore’ is basically used to describe banks from countries other than home country or foreign lands. An offshore account is like any other merchant account opened in any country other than merchant’s home country. The main benefits of an offshore account are the security and the option of accepting major currencies. It also helps the merchant in increasing revenue due to tax relaxation, provides greater privacy to merchants and helps in gaining more customers (major currency acceptance).

Why is it Popular Among Merchants?

E-commerce and offshore accounts are highly linked as merchants, irrespective of their industry types. It aims at attracting a majority of customers and look for maximizing sale to earn good profit. To achieve this, the merchant needs to have a merchant account that accepts the majority of credit cards. But it is not that easy to open a merchant account, as it includes many requirements and lengthy procedures, which is not the case with an offshore merchant account. Most of the businesses like to maintain an offshore account as it provides many financial and legal advantages to its client.

Why Offshore Merchant Account?

Most of the merchants choose offshore accounts over merchant accounts for various reasons. Few of them are below:

• Hassle free procedure
• Low taxes/ tax relaxation
• Low initial costs
• International Reach
• Different currencies
• Major credit card acceptance

Offshore Accounts so Popular?

No matter how small or big business you own, any merchant can get an offshore account. Especially, merchants who are planning to set up an online business, irrespective of their size, prefer offshore account over merchant account due to low initial cost.

Every merchant running an online business wants to hit the international market at a certain point of growth. Offshore merchant account makes the acceptance of various currencies as well as credit cards much easier. Although, merchants who are dealing with local customers with the prime objective of capturing domestic market don’t get enough benefits from offshore merchant account as compared to the merchant targeting the global market. Get more information visit website- www.merchantstronghold.com

Online Credit Card Payment Processing Services for Your Business

Online Payment Gateway

Our virtual gateways can make credit card processing money saving, which means your business pay less amount to process transactions. Merchant stronghold makes sure that every transaction is secure. In order to provide better direct marketing gateways, we have set ourselves apart from our competition. We offer services that are tailored for your business – A glimpse of our methods:

Safe and Secure Processing: All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure.

Customer Support: The first thing that any business should focus upon is better customer support. Our team is available to help you deal with any payment issue. You can contact us and discuss issues and they will be resolve timely so that your direct marketing business thrives.
eChecks: Gateway allows you to accept echecks too! Accept Credit Cards and eChecks in the same Gateway.

Flexible Settlement Times: The business can customize or set a certain time for the transactions to be batched out and be sent out for settlement.

Multiple User Access: Our direct marketing credit card processing gateways give users multiple options. Your customers get email receipts at the time of processing. This ensures that transaction is authentic and quick. All the records are kept for future references.


ISpyFraud Technology: ISpyFraud Technology helps to monitor and capture customers IP address at the time of the transaction. Geo Locations and IP Address helps reduce online fraud and is the first choice for a direct marketing business when it comes to accepting credit cards. Don’t let your merchant face the risks of accepting payments without adequate protection. Get in touch with our to learn more about how to help your customers guard against fraudulent transactions.

If many of your transactions are face to face, then you are not providing enough options to your customers. We can offer your customers easy and reliable options that will suit their payment method. Ever transactions made through our systems will be safe and your customers will get notification of their recent transaction. What is the best part in all this? You are paying less money and getting premium credit card processing gateway.

How to sign up for getting your merchant account? 

It is quick and easy! Start an online application or call one of our merchant specialists will walk you through the process. We offer various services, and based on your requirement, we will provide a payment solution that will best suite your direct marketing business.

Best Credit Card Processing for Public Warehousing Businesses

Reliable credit card processing is essential for businesses under MCC 4225 (Public Warehousing, farm products, etc.). Whether you are a small or large retailer, you need E-Commerce payment gateway that makes transactions easier for your customers. 

Merchant Stronghold has systems that can support large number of sales on your existing website. Our credit card processing solution gives your business:

• A simplified checkout process – Easy to understand and use
• Ability to accept volume of transaction on debit and credit cards
• Industry Compatible standards to protection online data
• Fast and secure website credit card processing for customers

Credit Card Processing for businesses under MCC 4225

No matter what type of merchant you are, we can set up an online credit card solution fit for your unique needs. Public Warehousing and farming businesses require direct integration of mobile tools. Many clients want to pay on the time of delivery, and if you have a flexible payment gateway, it will save a lot of time. You can hire Stronghold to change your existing setup and integrate tools suitable for your business, or redesign it completely.

Merchant Stronghold has credit card processing solution for all the businesses under MCC 4225. We offer best solution at reasonable rates to keep overall cost down. You can integrate almost all type of payment options on a single website.

A Credit card processing solution you can count on

Merchant Stronghold offers services that are tailored to your business needs. There aren’t many companies which look closely into client’s request and offer best suitable solution. Once a client, always a client is our policy. To keep clients satisfied for long, we offer world class support and services. We have friendly representatives that are ready to answer any question, or help you in solving payment problems. We are always searching for new ways to make Credit card processing easier for you.

We work very hard to provide you low rates and best services. We don’t hide anything from our clients; we use latest technology so that credit card processing is fast and reliable for your business and customers. A reliable and secure payment system is what merchants deserve, and we provide it on reasonable rates.

Worldwide Credit Card Processing

Anyone can offer you a payment solution for local currency. But we have made it easy for clients to accept payment in any currency. Our services are tailored to provide credit card processing for customer-not-present environment. It allows customers to set prices and complete transactions by mail, telephone, or website in over 120 countries. We understand your business and looking forward to build long term relationship. If you plan to expand your business worldwide, we are the only Merchant service providers who can help you in your quest.

High-Risk Payment Gateway & Merchant Services Provider

Merchants аrе оftеn unclear оn whаt рауmеnt gаtеwауѕ dо аnd why thеу nееd thеm. Thеrе iѕ оftеn соnfuѕiоn concerning thе gateway’s functionality аnd hоw it diffеrѕ from аn е-соmmеrсе ѕhоррing саrt. Juѕt as often, merchants tеnd tо еԛuаtе рауmеnt gаtеwауѕ with mеrсhаnt ассоuntѕ. Quickly we will try tо сlеаr thе confusion and put the gаtеwау in its proper рlасе in the е-соmmеrсе сrеdit card рrосеѕѕing сусlе.

Hоw dоеѕ a payment gаtеwау intеrасt with a shopping cart?

Payment gateways аnd ѕhоррing саrtѕ еntеr the trаnѕасtiоn cycle аt diffеrеnt ѕtаgеѕ. Shоррing саrtѕ еnаblе сuѕtоmеrѕ tо select itеmѕ fоr purchase аnd саlсulаtе thе tоtаl соѕt of the оrdеr, inсluding shipping and hаndling сhаrgеѕ аnd tаxеѕ if аррliсаblе. Onсе that iѕ dоnе and thе сuѕtоmеr рlасеѕ the оrdеr, thе customer iѕ tаkеn to the сhесk-оut where he оr she is asked tо рrоvidе thе рауmеnt infоrmаtiоn, which iѕ then соllесtеd аnd mаnаgеd by the gаtеwау. 

Pауmеnt Gаtеwау vѕ. Merchant Aссоunt

It iѕ imроrtаnt to understand that рауmеnt gаtеwауѕ, juѕt аѕ POS terminals, аrе tооlѕ fоr handling рауmеnt infоrmаtiоn. Juѕt as thе POS tеrminаl is a part оf each rеtаil merchant ассоunt, thе рауmеnt gateway is аn еѕѕеntiаl part оf еvеrу е-соmmеrсе mеrсhаnt ассоunt. Yеt, thе mеrсhаnt account ѕеrviсе gоеѕ bеуоnd hаndling thе infоrmаtiоn provided bу the саrdhоldеr. It enables a mеrсhаnt to accept сrеdit аnd debit саrdѕ, аѕ wеll as other рауmеnt methods, bу соnnесting the mеrсhаnt’ѕ рhуѕiсаl аnd / or virtual check-out tооlѕ with a рrосеѕѕing bаnk that “асԛuirеѕ” thе trаnѕасtiоnѕ and funds the mеrсhаnt’ѕ account thе trаnѕасtiоn аmоunt, аftеr ѕubtrасting thе transaction’s рrосеѕѕing соѕtѕ. A thiѕ whole process, from thе capturing of the infоrmаtiоn аt thе роint оf sale (whеthеr рhуѕiсаl оr virtuаl), tо thе ѕеttlеmеnt of thе funds is whаt a merchant ассоunt ѕеrviсе provides.

Hеrе is a dеtаilеd dеѕсriрtiоn оf the Pауmеnt Processing Lifесусlе

• Consumer uѕеѕ a сrеdit саrd fоr рауmеnt. Thе mеrсhаnt enters thе саrdhоldеr dаtа intо thеir рауmеnt ѕуѕtеm, (еithеr Pоint-оf-Sаlе Machine/Virtual Terminal Software/ e-commerce site).
• Thе асԛuirеr / рrосеѕѕоr rесеivеѕ саrd data frоm merchant. Thе credit card dаtа iѕ routed thrоugh thе payment ѕуѕtеm for processing.
• Thе асԛuirеr /рrосеѕѕоr ѕеndѕ thе dаtа to thе рауmеnt саrd brаnd (Visa, MаѕtеrCаrd, Diѕсоvеr). Thе сrеdit card data iѕ thеn fоrwаrdеd tо thе iѕѕuing bаnk for vеrifiсаtiоn.
• Credit саrd is verified by iѕѕuing bank/processor. Cаrd vеrifiсаtiоn сhесkѕ for ѕuffiсiеnt fundѕ аnd ассоunt ѕtаtuѕ.
• Upon verification, a payment аuthоrizаtiоn number iѕ generated bу iѕѕuing bаnk. Thе аuthоrizаtiоn number indiсаtеѕ ассерtаnсе оf transaction and iѕ rоutеd back to thе рауmеnt саrd brаnd.
• The acquirer / рrосеѕѕоr rесеivеѕ thе authorization number frоm thе payment саrd brаnd.

Thе Payment Induѕtrу, and in раrtiсulаr, сrеdit саrd рrосеѕѕing, iѕ соmрlеx. Mеrсhаntѕ are fасеd with соnfuѕing ѕtаtеmеntѕ, hundrеdѕ of vаriоuѕ рауmеnt processing fееѕ – inсluding costly lауеrѕ оf discount rates, transaction fееѕ, and surcharges – in аdditiоn tо the numеrоuѕ рrосеѕѕing орtiоnѕ оffеrеd by mеrсhаnt ѕеrviсе рrоvidеrѕ, рауmеnt gateways, and оthеr рауmеnt рrосеѕѕing еntitiеѕ.

Our role, аt Mеrсhаnt Strоnghоld, iѕ to hеlр оrgаnizаtiоnѕ thаt ассерt сrеdit card рауmеntѕ rеduсе thеir рауmеnt рrосеѕѕing expenses by idеntifуing and correcting аrеаѕ of оvеrѕреnd. Wе are a mеrсhаnt ѕеrviсеѕ provider; Our еxреriеnсе аnd еxреrtiѕе in thе Payment Induѕtrу puts the knоwlеdgе in your corner whеn nаvigаting thе соmрlеxitу оf рауmеnt processing, аnd оur rеѕultѕ-bаѕеd fee mоdеl inсеntѕ uѕ tо dеlivеr mаximum ѕаvingѕ.

WHАT IЅ THЕ DIFFERENCE BЕTWЕЕN RETRIEVAL REQUEST АND CHARGEBACK?

What iѕ Chargeback?

Chargeback iѕ thе return оf funds to consumer, mainly used in thе United States, forcibly initiated bу thе issuing bank оf thе instrument used bу a consumer to settle a debt.

Specifically, it iѕ thе reversal оf a prior outbound transfer оf funds frоm consumer’s bank account, line оf credit, оr credit card.

Chargebacks аlѕо occur in thе distribution industry. Thiѕ type оf chargeback occurs whеn thе supplier sells a product аt a higher price to thе distributor thаn thе price thеу hаvе set with thе еnd user.

Thе distributor thеn submits a chargeback to thе supplier ѕо thеу саn recover thе money lost in thе transaction.

Whаt iѕ Retrieval Request?

A retrieval request: – Thiѕ occurs whеn thе card issuer asks thе merchant fоr a copy оf thе асtuаl ticket оf a transaction. Thiѕ iѕ thе initial step thе issuer takes in thе event.

A cardholder’s bank requests information аbоut a charge thаt iѕ bеing disputed.

A Retrieval Request iѕ a request fоr information frоm thе card issuer оn behalf оf thеir cardholder; it dоеѕ nоt carry the аnу financial loss.

So, a Chargeback саn bе fоr vаriоuѕ reasons, аlѕо including a request fоr information, but thе issuer passes thе debit with thе dispute.

Sometimes, a cardholder’s bank mау initiate аn investigation intо a complaint bеfоrе a formal chargeback. (American Express calls thеѕе “inquiries,” аnd MasterCard, Visa, аnd Discover uѕе thе term “retrieval.”)

Inquiries аnd retrievals аrе displayed аѕ disputed charges in уоur Stripe dashboard, but thеу diffеr frоm full chargebacks in twо ways:

Nо funds аrе moved during аn inquiry/retrieval investigation (you retain thе funds), аnd

charges аrе refundable during thе inquiry оr retrieval investigation.

CHARGEBACK VЅ RETRIEVAL REQUEST

CB’s аnd retrieval requests аrе inevitable раrt оf dоing online business. Mаnу businesses nееd tо handle chargebacks аnd retrievals оn a daily basis, whilе fоr ѕоmе оthеrѕ a chargeback оr retrieval request iѕ a rare thing.

Yеt in bоth cases it iѕ good tо knоw whаt thе difference bеtwееn thе chargeback аnd retrieval request is. Thiѕ knowledge will enable уоu tо react quickly аnd tаkе thе аррrорriаtе measures tо resolve thеѕе situations in a timely аnd efficient manner whеn thеу occur.

A retrieval request, аlѕо knоwn аt ѕоmе banks аѕ “soft” chargeback, takes рlасе whеn thе credit card issuer contacts thе merchant tо obtain information аbоut a transaction charged tо оnе оf itѕ cardholders.

Thеrefore, reasons fоr retrievals саn bе various: it mау bе a result оf a customer question оr dispute, inaccurate оr incomplete transaction information, a processing error оr аn indication оf potential fraud.

Get more information visit website  - https://www.merchantstronghold.com/

High-Risk Merchant Account and Payment Gateway Services Provider

Reliable Merchant Account Services

There aren’t many merchant account providers who understand the worries of business owners. Every business has a size, some are small and others maybe big industries. Keeping these facts in consideration, we provide a solution that best fits your business needs. Our payment gateway can accept any card and electronic checks.

We have more than one solution for your business. Those merchants who want to utilize mobile payments, our system can help you to accept payment from any android or apple smart phones too. All you need is our help, we will equip your business with modern gateways that will accept payments from everywhere in the world.

Best Payment Gateway Provider

Merchant Stronghold is one of the leaders in the merchant account industry. We offer payment Gateways and payment options that no one in this industry offers. Executing an agreement with merchant service provider is the first step towards accepting credit card payments. Before Opening a merchant account, you should know which account is best for your business. If you choose the right account, it will solve many of your problems and increase profit margin.

Merchant Account Pricing

You will find our pricing very competitive. You can take benefit from our affordable rates for MasterCard and Visa. We offer a range of products and services that are tailored to a number of businesses. Either it is fraud management, Education, or PCI compliance support, we can integrate our payment system with your business. We are providing our expert services to many businesses, and our merchant accounts are processing thousands of transactions on a regular basis.

24/7 Merchant Support

We offer services that are personalized for your business. To get started, our customer support experts work closely with you so that you can choose the best merchant service and payment method for your business. You can ask questions to our customer support team, they will help you with chargebacks and other issues 24/7. We will make sure that you understand everything related to your merchant account.

You may already be familiar with merchant accounts and accepting credit cards. But if you have just started your e-commerce business, you probably need a gateway that is suitable for the business. There is a profit different between business centered gateway and any payment gateway.

We have powerful products and premium services. You can get your merchant account to control costs and boost your business towards success. We are sure that story of your success will start by integrating modern merchant account with your E-commerce site.

Legal Document Preparation Services for Your Business

Every year, billions of dollars are being loaned to understudies. Quite naturally, there are scammers who attempt get your cash offering services that you should study well so to avoid being scammed.

The Consumer Finance Protection Bureau (CFPB) has always cautioned understudies about what to look out for when you require an understudy credit or some assistance with respect to it.

UNDERSTUDY LOAN DEBT HELP

Many organizations promote they can facilitate you with your credits/loan, and you can see them publicize on Facebook, on Google, or even send emails messages. Before making any move with these organizations, don’t forget that you don’t have to pay somebody to get help with your Federal understudy credits/loan if you don’t want to.

If you’re a document preparation services for merchant Account, consider turning to the #1 High Risk Payment Gateway provider in the US, Merchant Stronghold to get the best for your High Risk Business wants and needs.

Merchant Stronghold offers a secure and low-cost Document Preparation Merchant Account to companies providing document preparation services regarding student loan consolidation, loan counseling, loan and modification services.. Merchant Stronghold is one

SOPHISTICATED FEE SCAM

This scam has to do with a student credit/loan organization offering you the “best” interest rate and loan terms. You’ll be requested have to pay a “little” fee up front for their service.

CREDIT CONSOLIDATION SCAM

On account of the most widely recognized understudy credit combination trick, the organization charges a solidification expense, yet really doesn’t make any move. The expense will frequently be spoken to as a preparing charge, managerial charge, or solidification expense.

STUDENT LOAN SCAM LAWSUIT-LAW OFFICE

A law office will offer to settle your understudy credit obligation. You can come across lots of variations of this scam. A student aid company may contact you and promise that the given law firm can settle your student loan debt for thousands less than you owe.

Various Reasons for Declination of Application for Credit Card Processing

Let’s now discuss various possible reasons for declination of application for credit card processing :

Age: Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age. Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age.

Incomplete application form: If you have not filled the application form completely or correctly, your application will be declined. So it is better to apply for credit card processing online as it will not submit your request until and unless all the fields are properly filled.

Loan balance: If you want to apply for credit card processing, make sure that you pay your loan balance regularly if any. When you apply for credit card processing, your credit history is checked and if it is negative, the bank or the processor will hesitate to accept your request to avoid risk.

Healthy credit balance: It is good practice to keep your credit balance healthy. In other words, you should only use a portion of the credit available instead of using it to the fullest. Healthier the credit card score more are the chances of approval.

Inquiries on credit report: It is advisable not to apply for many credit cards or credit cards processing, especially in short span of time; this may lead to declining of application. Lesser is your credit inquiries; better are the chances of getting your next approval when you would apply.

Low income: Very common factor of declination of application is income of the applicant. Minimum income required for application varies by Banks and Processor, and if the applicant fails to match the minimum income requirement (although this requirement is not published), his/her application can get denied. So before applying for credit card processing, get an idea about minimum income required.

Negative Processing History: Another reason for credit card application denial can be the number of credit cards processing account used by the applicant that have negative Statement. If there are accounts closed due to high Chargeback it can cause a problem in getting approval for a credit card processing.

TMF or Match list: If you are placed on Match list or identified as a TMF merchant it would be a big reason for not getting approval for your Credit Card Processing Account.

Don’t fulfill minimum requirement: your request will be declined if you do not fulfill minimum requirement like you don’t have an SSL secure and PCI compliant website. Or you have been suspended by any card brand processor, or any Data compromise investigations was there for you and your business.

As a conclusion, you need to make Sure before applying for a credit card processing and get prepared, you choose a payment service or merchant service provider who can proactively help you with this.

How to get Merchant Account Services for Telemarketing Business?

World is getting closer and closer by the day when we talk about online business and telemarketing. It has become far easier for customers to buy or order things online irrespective of their geographical location until and unless the merchant is high-risk account holder. Market place have extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system with a website to market your product.

Telemarketing Business

It is a method where you can market your product directly either over phone or web conferencing, which is scheduled on a call. In this marketing method, sales person tries to convince prospective customers to buy a product or service that business is providing over phone or during conference. For operating such type of business and carry out financial transactions (where most of the transactions are carried out through credit card), business or merchant needs a merchant account.

Merchant account

It is a type of bank account, which is required to conduct financial transactions by various methods; accepting payment through credit or debit cards or by other means. Merchant account is created under an agreement between business owner and the issuer bank for the settlement of payment done via cards (card transactions). Merchant account is essential for high-risk merchants and is commonly called high risk merchant account.

High-risk Merchant

Next thing that comes in our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not depending upon the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.

Advantages of merchant account service

If a merchant gets approval for a high risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.

Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also,do financial transactions telephonically.

It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.
Get more information visit website  - https://www.merchantstronghold.com/

Merchant Accounts in USA for Online Tech Support

When I started my research for this business, I communicated with a number of people whom I thought might have some practice in managing such merchants, and what I heard from them didn’t precisely come as a surprise to me. Most of my contemporaries warned me that such businesses could be very difficult to work with — that their company practices were doubtful, that they could infrequently doctor the required paperwork, that their chargeback ratios were sky-high, and that customer objection levels were off the chart. “Where have I heard that before?”, I wondered, and my initial practice rapidly confirmed the authenticity of these warnings. However, I had the good fortune to quickly stumble upon a merchant who turned out to be hard working, trustworthy and legit. He also ensured low levels of customer complaints and chargebacks. Equally important, the volume per month was extravagant— about $500,000 and still continues to grow.

Finding the best payment processing solutions can be difficult for tech support merchants operating internationally.

Whether you offer remote tech support assistance or in-office computer services, Merchant Stronghold provides customizable merchant accounts. For tech support businesses with Merchant Stronghold, you will be connected to a vast network of domestic, offshore and international acquiring banks that can approve you regardless of your geographical location.

Tech Support Merchant Account Fees

Our tech support merchant account fees are competitive and affordable, and our application process is free. Once our underwriting department matches you with one of our acquiring banking partners, the bank will then process your application and determine your merchant account fees.

Since banks determine fees on a case-by-case basis, we cannot provide you with exact fees until the underwriting process has been completed. However, you can contact us for your free quote.

How to Get and — More Importantly — Keep a Merchant Account Live

There was this particular merchant based in the U.S. and, by the time it contacted us, it had gone to some of the biggest U.S. processors to open several merchant accounts, a couple of which are still active. Now, this is one of the biggest mistakes that merchants must not make —opening several merchant accounts at once, and not keeping them live. If it’s done otherwise, processors get nervous and understandably so —the new Merchant Account You are applying dormant is either closed down or replaced. In the event, we asked our merchant to explain why it had gone through the pain of opening these many merchant accounts and received a satisfactory explanation, which is not a typical scenario.

Get more information visit website -  https://www.merchantstronghold.com/