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Add You - Understanding Your E-Commerce Options
Small business credit cards can play an important role in the success of many enterprises and small businesses. Yet currently most folks view of small business credit cards is extremely limited. Mostly they only think of them as tools to aid them in obtaining certain incentives for small businesses that credit cards have become famous for giving.Problems That A Small Business Credit Card Can SolveThe more significant potential role that small business credit cards can play is that of helping entrepreneurs manage their businesses more efficiently and easily by greatly simplifying the accounting and financial record keeping tasks. There is no doubt that this is a critical area in the management of the affairs of any business and yet keeping constantly updated and accurate records is quite a challenge for any small business.Many people thought that with the advent of popular and easy to use small business software accounting packages like Quickbooks, this problem was gone forever. Alas, some old problems persisted. One of them was that somebody still had to enter the details and somebody still had to keep all the receipts. Then there is always the struggle to separate personal expenses from business expenses for a small business. Not to mention the need to divide all the expenses into various different categories for tax reasons.All these headaches in
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and g
The wire EDM manufacturing business is becoming popular, as the system has provided a significant growth in manufacturing sector. The rising demand for the wire EDM has attracted many big entrepreneurs in the business. It facilitates the achievement of the desired speed in machine cutting.Companies in China and Taiwan are leading the race in the business. One of them is Accutex Technologies Co. Ltd., from Taiwan that holds a good reputation in the industry. Accutex Technologies are manufactures of quality precision CNC machine tools, CNC wire cutting machines type submarines, flushing type cutting machines, EDM machines, wire EDM machining, wire cut EDM and CNC machines. It has worldwide export markets with annual sales of $ 2,000,000. The company favors USD as the currency in transactions.Oscar EDM Company Ltd is another leading company from Taiwan that specializes in the manufacturing of EDM drilling machines, EDM machining, wire EDM machining, wire cut EDM, electrical discharge machines, CNC EDM, CNC wire EDM machinery and spark erosion.Similarly Ocean Techologies Co., Ltd is another Taiwan company with worldwide exports in Wire EDM. Ocean Techologies is also well known for supplies in ceramic guide, electrode tubes, instrument equipments and spare parts.Shenzhen Joint Industry Co., Ltd is one of leading manufacturers in wire EDM from China. The compan
Why should you implement E-Commerce into your website? Simply put, because the ability to market goods and services and accept online payments is a great example of a passive income model. Your online store is running, customers have found their way to your site and their purchase is completely automated – from payment processing and approval to product delivery. With prior and proper preparation, your involvement in the transaction process is limited, leaving you more time to focus on other areas of your business.
1. Accepting Credit Cards Boosts Profits
As an online merchant you should already have a good understanding of the importance of making your product easily accessible to potential customers. With so much competition on the Internet, a frustrated potential customer can exit your site without looking back if you do not offer a clear and easy method to order and deliver your products and services.
Let’s look at an example:
Assume two competitive merchants, A and B, both have websites which are geared to marketing jar candles. Merchant A offers detailed product information, appropriate product photos, great customer service and the ability to quickly and easily order his product through an online shopping cart and payment processing system with a price slightly higher than that of Merchant B.
Merchant B also offers detailed product information, appropriate product photos and excellent customer service but a lower price. You’ve decided to order from Merchant B because his price is lower. Upon trying to checkout, you then discover that Merchant B does not have a shopping cart, cannot process credit cards from his website and requires you to either email or call to place your order.
Which merchant do you believe would earn the final sale in this example?
If you said Merchant A, 99.9% of the time you’d be correct. Accepting credit cards can boost your profits immensely because it adds value and convenience to your customer’s online shopping experience. The merchant benefits because he is not consumed with taking orders via phone or email; he is diversifying his income streams by delivering goods and services online thereby freeing up time to focus on other aspects of his business. Processing payments online also reduces the total transaction time since the traditional method of waiting for checks to clear prior to shipping/delivering products and services is eliminated.
2. Online Payment Systems
Now that you’ve decided to accept credit cards ? you’ll need to select a merchant processor to handle the transactions and to deliver your money to you. Names in the processing arena come to mind such as: PayPal, 2checkout.com, ProPay, or various other Merchant processors such as Wells Fargo or Verisign who can provide you with an Internet Merchant Account.
What is the difference between PayPal and an Internet Merchant Account?
PayPal
PayPal is referred to as a 3rd party payment processor. Simply, this means that PayPal holds the Internet Merchant Account, and will process your credit card transactions using their account for a nominal fee of 2.9% + $.30 per transaction. One of the advantages to PayPal is that there are no signup fees, no setup fees, no credit checks, no monthly minimums, no monthly service fees, no contract, no gateway fees, no statement fees and their shopping cart is free. For a small business venture who is just staring out, this is an attractive cost-effective method of conducting online business. Currently there are other processors such as ProPay and 2checkout.com which are based along this same concept; however some competitors charge setup or monthly fees in addition to per transaction fees that can run as much as 5%.
There are some things to be aware of if you are going to use PayPal. In exchange for the freedoms from contract periods and monthly fees, you are consenting to process your business’ transactions through a Merchant Account that does not belong to you. Why is this important to me you ask? This becomes important when you are dealing with issues of charge backs or fraudulent transactions. Despite our best intentions as merchants to conduct business fairly and securely, at some point a fraudulent purchase may be made from your website. PayPal’s Terms of Service agreement gives them unrestricted rights to freeze and remove all funds from your PayPal and checking accounts in the event of a dispute or fraudulent transaction. Your best bet is to read the entire agreement cover to cover and be prepared to ask questions if you are uncomfortable with anything listed.
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and gi
Metropolitan areas are made up of property. Any piece of land typically has an address: 123 Elm Street. The property can also be developed and a house can be built upon the land.On the Internet, websites are like the houses and buildings. Domain names are the addresses to those structures.While it does get a little more complicated than the above illustration, it is helpful to think of the Internet in those terms.Key terms you should know:Internet - The collective whole of networked computers across the globe. This includes the World Wide Web, email, FTP and other protocols.World Wide Web - a portion of the Internet where most websites reside. It is graphically capable and is supported by such languages as HTML and CSS.URL - Universal/Uniform Resource locator - this is the complete unique address of a website on the World Wide Web. It is made up of three components: the protocol, the host type and the host name. HTTP:// is the protocol. WWW is the host type. example.com is the host name (domain name). Put them together to get: http://www.example.comHTTP - Hypertext transfer protocol. The protocol of the World Wide Web.Top Level Domains - the suffix on the end of the domain name proper: .COM, .NET, .ORG, .BIZ, etc.Second level domains - the name portion of a domai
Merchant B also offers detailed product information, appropriate product photos and excellent customer service but a lower price. You’ve decided to order from Merchant B because his price is lower. Upon trying to checkout, you then discover that Merchant B does not have a shopping cart, cannot process credit cards from his website and requires you to either email or call to place your order.
Which merchant do you believe would earn the final sale in this example?
If you said Merchant A, 99.9% of the time you’d be correct. Accepting credit cards can boost your profits immensely because it adds value and convenience to your customer’s online shopping experience. The merchant benefits because he is not consumed with taking orders via phone or email; he is diversifying his income streams by delivering goods and services online thereby freeing up time to focus on other aspects of his business. Processing payments online also reduces the total transaction time since the traditional method of waiting for checks to clear prior to shipping/delivering products and services is eliminated.
2. Online Payment Systems
Now that you’ve decided to accept credit cards ? you’ll need to select a merchant processor to handle the transactions and to deliver your money to you. Names in the processing arena come to mind such as: PayPal, 2checkout.com, ProPay, or various other Merchant processors such as Wells Fargo or Verisign who can provide you with an Internet Merchant Account.
What is the difference between PayPal and an Internet Merchant Account?
PayPal
PayPal is referred to as a 3rd party payment processor. Simply, this means that PayPal holds the Internet Merchant Account, and will process your credit card transactions using their account for a nominal fee of 2.9% + $.30 per transaction. One of the advantages to PayPal is that there are no signup fees, no setup fees, no credit checks, no monthly minimums, no monthly service fees, no contract, no gateway fees, no statement fees and their shopping cart is free. For a small business venture who is just staring out, this is an attractive cost-effective method of conducting online business. Currently there are other processors such as ProPay and 2checkout.com which are based along this same concept; however some competitors charge setup or monthly fees in addition to per transaction fees that can run as much as 5%.
There are some things to be aware of if you are going to use PayPal. In exchange for the freedoms from contract periods and monthly fees, you are consenting to process your business’ transactions through a Merchant Account that does not belong to you. Why is this important to me you ask? This becomes important when you are dealing with issues of charge backs or fraudulent transactions. Despite our best intentions as merchants to conduct business fairly and securely, at some point a fraudulent purchase may be made from your website. PayPal’s Terms of Service agreement gives them unrestricted rights to freeze and remove all funds from your PayPal and checking accounts in the event of a dispute or fraudulent transaction. Your best bet is to read the entire agreement cover to cover and be prepared to ask questions if you are uncomfortable with anything listed.
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and g
Power tool safety can prevent minor accidents such as scrapes, pinches, cuts, and punctures and bigger accidents including amputations, electrocutions, and death. Unfortunately, many injuries, accidents, and even the deaths of workers—particularly construction workers—could have been prevented had they only understood power tool safety.No matter which power tools you use or how often you use them on the job, you need to understand the very real and potential dangers associated with each power tool (individual power tools differ from one to another regarding their relative hazards), and then learn the specific safety precautions you will need to follow in order to prevent those dangers. It’s also important to always use common sense and your better judgment while operating power tools of any kind in order to ensure power tool safety.Fortunately, you don’t have to be left alone to figure out the many power tool hazards and power tool safety precautions for yourself. Trial and error is not an option here! OSHA (The Occupational Safety and Health Administration) has set forth some important guidelines you can follow in order to use your power tools properly, and to avoid both minor and major accidents and injuries.First, it’s important to follow power tool safety precautions before using any power tool. First, inspect the tool. Make sure it has a recent (preferably
2. Online Payment Systems
Now that you’ve decided to accept credit cards ? you’ll need to select a merchant processor to handle the transactions and to deliver your money to you. Names in the processing arena come to mind such as: PayPal, 2checkout.com, ProPay, or various other Merchant processors such as Wells Fargo or Verisign who can provide you with an Internet Merchant Account.
What is the difference between PayPal and an Internet Merchant Account?
PayPal
PayPal is referred to as a 3rd party payment processor. Simply, this means that PayPal holds the Internet Merchant Account, and will process your credit card transactions using their account for a nominal fee of 2.9% + $.30 per transaction. One of the advantages to PayPal is that there are no signup fees, no setup fees, no credit checks, no monthly minimums, no monthly service fees, no contract, no gateway fees, no statement fees and their shopping cart is free. For a small business venture who is just staring out, this is an attractive cost-effective method of conducting online business. Currently there are other processors such as ProPay and 2checkout.com which are based along this same concept; however some competitors charge setup or monthly fees in addition to per transaction fees that can run as much as 5%.
There are some things to be aware of if you are going to use PayPal. In exchange for the freedoms from contract periods and monthly fees, you are consenting to process your business’ transactions through a Merchant Account that does not belong to you. Why is this important to me you ask? This becomes important when you are dealing with issues of charge backs or fraudulent transactions. Despite our best intentions as merchants to conduct business fairly and securely, at some point a fraudulent purchase may be made from your website. PayPal’s Terms of Service agreement gives them unrestricted rights to freeze and remove all funds from your PayPal and checking accounts in the event of a dispute or fraudulent transaction. Your best bet is to read the entire agreement cover to cover and be prepared to ask questions if you are uncomfortable with anything listed.
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and g
Do you want to start a business on a small scale? Pay as you go and not borrow any money? Basically you want to test the idea out and see if it has potential. Then why do you need a business plan? The most important reason is this. If you cannot flesh out the idea and write it down on a sheet of paper, then it’s not a viable business idea, and you should move on to the next project. Notice I did say a sheet of paper. One sheet. Of course you can use two or three but the basic simple business plan should be just that, simple.You cannot take this plan to the bank and expect to get a loan for your business. In fact you should not even show it to friends or relatives. This plan is for your eyes only. It is to define your business idea. A simple business plan will give you a starting point that will grow with your business.Here’s the basic setup that you need to have.1. The business Name.That may seem obvious, but give it some serious thought. Always expect this small business to turn into the next global enterprise and you don’t want to stick it with something that’s hard to spell, or that’s not relevant to the business.2. The Vision statement.What is your purpose for starting this business and what do you expect to achieve. Define what the business does.3. The Objectives.
There are some things to be aware of if you are going to use PayPal. In exchange for the freedoms from contract periods and monthly fees, you are consenting to process your business’ transactions through a Merchant Account that does not belong to you. Why is this important to me you ask? This becomes important when you are dealing with issues of charge backs or fraudulent transactions. Despite our best intentions as merchants to conduct business fairly and securely, at some point a fraudulent purchase may be made from your website. PayPal’s Terms of Service agreement gives them unrestricted rights to freeze and remove all funds from your PayPal and checking accounts in the event of a dispute or fraudulent transaction. Your best bet is to read the entire agreement cover to cover and be prepared to ask questions if you are uncomfortable with anything listed.
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and g
My passion as an Entrepreneur started 11 years ago as a SSG in the Military. I got so tired of people getting credit for the work I did and all I got was a pat on the back. So I decided to leave the military after about 13 years and 9 months. I just got tired also of seeing so many of my fellow enlisted soldiers retire and not be able to find a good job because they were either to old or not skilled enough. People still think I was crazy for getting out with only 6 years 3 months left.Even I do from time to time as I get older But you can't look back. So I joined program after program. You name the program and I probably was a member of it. I probably joined over 100 programs 11 years. I made money and lost. Nothing that made me rich. I think I got a high just from joining programs. Then a week later when no one joined my program or my up line stopped calling me because they already got my money the program lost it's buzz or maybe I did so I moved on to another program.What has always been my dream is to help people like myself make money. I came up with about 45 different programs over the years that would work but something always came up, so I would have to drop the program.After 11 yrs and hitting the big 41 I decided it is either now or never. Reason being I had taken these steps before. Once when I left the military and decided to work from home. That
Internet Merchant Account
An Internet Merchant Account is a relationship between a retailing company and a Merchant Bank, which allows the retailer to accept credit card payments from customers via the Internet.
As a merchant, you have a direct relationship with the processing bank, the account is in your name (belongs to you), you have control over how transactions are conducted, and what steps you can take to reduce risk to your cardholders and to your business. Most processors offer fraud detection suites and companies like PreCharge can screen and identify online credit card-based transactions for your business in an effort to prevent charge backs and fraud. PreCharge will also reimburse you 100% of your charge back fees should a transaction later turn out to be fraudulent. This reduces risk for the merchant processor and gives peace of mind to you in your business dealings.
The obvious downside to an Internet Merchant Account can be the initial start-up costs and increased monthly costs as compared to 3rd party processors such as PayPal. This is in addition to a credit check and the wait for the account to be setup. That being said, more and more merchant processors are offering specials which include no setup fees, no application fees, reduced monthly fees and per transaction processing rates which are lower than PayPal, making them easier to obtain and an attractive alternate.
3. Merchant Account Reviews
An excellent source of information on merchant processors is available online at the Merchant Account Forum Here you can access information and feedback on some of the most well known merchant processors.
4. Do’s and Don’ts of accepting Payments Online
A quick list to keep in mind…
DO:
1. Assess your processing needs first:
a. Do you want to accept Visa, MasterCard, Discover and American Express or perhaps just Visa and Mastercard?
b. What is your monthly budget for card processing fees?
c. Are you comfortable paying signup or annual fees?
d. Would you prefer to apply online, via mail or fax?
2. Consider a handful of merchants who meet your initial criteria:
Create an excel file to track merchant fees and assess your overall costs at zero transactions and 100 transactions.
3. Assess the merchant:
a. Are they available to answer your questions promptly?
b. What is their track record?
c. What do customers say about their service and support?
d. Are there any “hidden” fees? These may be listed in the merchant contract but not provided up-front and online for your consideration.
e. Do they require a contracted commitment…1, 2, or 3 years?
f. How do they handle charge backs and fraud?
4. Investigate Fraud Detection Services:
Request information from the merchant processor on methods which reduce fraud and charge backs. These may be in-house solutions such as Address Verification Service (AVS) or Credit Verification Value (CVV) or 3rd party solutions such as Cybersource or Precharge.
5. Call the toll-free number and speak to a customer service representative about any contract/fee concerns or questions you have. It’s better to inquire about all fees now than to find out on your next monthly bank statement!
DO NOT:
1. Forget to read the ENTIRE Merchant contract. This means cover to cover! The full details are sometimes buried in the very fine print. These contracts can be intimidating; go slow and highlight areas which may be of concern.
2. Select the first merchant you talk to. This is a highly competitive business so investigate your options before making a decision.
3. Signup with multiple merchants at once. Merchant Accounts generally require a credit check. Be picky about which companies you allow to access your personal and business information.
5. Customers who Prefer Offline Payments
The decision to allow “offline” payments is an important choice. For example, companies who deliver digital goods such as paid newsletter subscriptions and e-books, have designed their product to facilitate instant payment and delivery. The idea with e-books being is that they are instantly downloadable and readable. Not all companies are cutout for allowing offline payments. For example, if you allowed your customers to download your digital product with a promise of mailing their payment, you would be setting yourself up for the risk that the payment may never come. What recourse do you have of recovering your money? Unfortunately, not much.
Not all customers will be open to paying online. There are many who feel that it is not safe to place personal credit card information on the Internet, and no amount of security or encryption notices will convince them otherwise. Does that mean you simply cannot do business with them? Absolutely not! One of the alternatives to paying online is to allow customers to place orders and mail in a check or money order for payment.
Who then is uniquely setup to accept “offline” payments? Merchants who ship products to their customers can help their customers take advantage of this additional payment option. In these instances, search for a shopping cart which has a check or money order payment option to allow your clients to check out of your website without providing credit card information. ALWAYS wait to ship the product unti
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