Understanding Credit Card Processing Works For the Benefits of Ecommerce Businesses?

To face the fierce competition in the E-commerce market, every merchant needs an online payment gateway and online credit card processing that can help the merchant serve the increasing number of customers on a daily basis who like to shop online and use credit cards as a preferred mode of payment. To successfully run an e-commerce business, the merchant needs an online credit card processing that is effective and efficient in fulfilling its purpose.

Benefits of Online Credit Card Processing

IMPROVES ABILITY

To make the website visually effective, a merchant invests a lot of time and money. But most of the merchants do not consider it important to invest much time when it comes to payment processing. However, to improve online transactions for your E-commerce business, it is important to choose the right payment gateway. A system that enables the communication between the merchant processor. Also, a PCI compliant website to share customer’s payment details, bank account, and merchant processor. With this, a business owner can carry out transactions 24 hours, 365 days. The payment gateway is designed to handle data collection, encryption and secure transmission of data to the merchant account.

SECURITY

It is important for every online merchant to consider the security and stability as the key factor of their business. For the long run of business and retention of customers, a reliable online credit card processing service is a must. The technology that is used for security includes PCI compliance standards. This makes it very difficult for criminals to crack the code and obtain customers data. Therefore, the customers gain confidence to use their credit cards to make a payment without hesitation.

CONVENIENCE

The third advantage of online card processing that works in the favor of E-commerce business is speed and convenience of card processing. Unlike the traditional way of carrying out transactions, this is relatively faster and an easier way. With few mouse clicks and entering basic details of the credit card, the customer can easily buy products without wasting much time. If a merchant sets up an E-commerce solution through Host Merchant Services, it will allow the business to accept payments through Visa, MasterCard, and American Express hassle free.

ACCESSIBILITY

To smoothen the process and gain accessibility from any part of the world, online credit card processing service can be configured to facilitate merchant to access the merchant account at any time. No longer bound to geographical location and address of the store, it is easier for the merchant to control and review business transaction from any part of the world with an online access.

FLEXIBILITY

When an online business touches international boundaries, it becomes essential to have a payment processor that can accept major currencies. We, at Merchant Stronghold, create such an E-commerce solution to deal with a variety of currencies. No longer bound by geographical boundaries, limited currency acceptance; the sky is the limit for your E-commerce business.

MEET MERCHANT STRONGHOLD

For more than a decade, Merchant Stronghold has proven its worth by providing excellent customer services, resolving queries of clients. And, providing them with the best solution for the credit card processing. Go through the list of various options available, pricing, after sale service and compatibility before finalizing a payment gateway for your business. So, connect with our professionals now.

The Large Global Payments Processor Unveils Airdropping Campaign Among Users

CoinPayments, a global cryptocurrency payment processor, has announced an airdrop launch of its own utility token – the CPS Coin. The company also plans to lower its transaction and conversion fees for token holders and enhance its user interface in 2018.

Founded in 2013, CoinPayments is a global cryptocurrency payment processor with a reach of over 1,000,000 vendors across 182 countries, says the company’s blog. CoinPayments offers a cloud payment solution allowing merchants to accept Bitcoin and hundreds of other coins through their plugins, APIs and point of sale (POS) interfaces.  

“CoinPayments has created a special place in the world of cryptocurrency users with intuitive digital wallets, which include shopping cart plugins that can be easily integrated by online merchants making it appealing to their customers,” said Alex Alexandrov, founder and CEO of CoinPayments in an interview with Insight Success.

The company is set to launch two mega projects in 2018. Firstly, CPS Coin - the CoinPayments token - will lower transaction and conversion fees for merchants. Secondly, a revamped version of their existing user interface - called CoinPayments 3.0 - will provide online merchants and wallet holders with “even more user-friendly experience” company representatives said.

Airdrop to all users

The CoinPayments team reported to Cointelegraph that the company launched an airdrop of 100 CPS Coins to all current users, as well as new signups on the CoinPayments platform until August 1, 2018. The value of the 100 CPS coins is €10. Any user who purchases CPS coins starting on May 4th will receive two CPS coins for the price of one, or three for one on orders totaling over €500,000 within a 24 hour period.

The CPS Coin is a utility token used within the CoinPayments platform and provides discounts and rebates for using various CoinPayments services. Users wanting to buy CPS Coins can buy directly from CoinPayments at a rate of €0.10 per token.

There is a wide range of discounts and rebates available for CoinPayments services, including merchant fees, conversion fees, withdrawal fees, initial coin offering (ICO) participation and as a preferred payment method in their own decentralized marketplace.

For example, merchant fees may be reduced by half. Merchants have the option to pay the 0.5 percent processing fee with CPS Coin by checking a box on their account. If they choose this option, they will only have to pay a 0.25 percent processing fee in CPS Coins based on a €0.10/CPS Coin rate. If their CPS Coin wallet doesn’t contain enough CPS Coins to pay the fee then the required amount of CPS Coins will be purchased automatically from the CoinPayments pool using the fee collected at the time of the transaction.

As for conversion and withdraw fees, users will receive a 50 percent rebate if they pay from CoinPayments directly into the user’s CPS Coin wallet.

Regarding ICO participation, CoinPayments will negotiate an allocation of tokens from hosted ICOs at a discounted rate from the public ICO price and CoinPayments users will have the option to participate in this allocation using CPS Coin.

 Additional tokens

“As an extra incentive, users can collect an additional 25 CPS Coins every time a new user signs up through their affiliate link,” said a company representative.

The CoinPayments affiliate program pays affiliates 25 percent of transaction fees collected from all referred users for a duration of 5 years. This includes merchant services transaction fees, commercial deposit fees, and ICO signup fees. In the future, this will also include debit card transaction fees, fiat settlement fees and much more.

Users can register at the company’s website and follow the affiliate help link to easily start the referral process immediately.

Single Place For All Your High Risk Payment Processing Needs

Our Online Payment Gateway Solution has been designed with a high standard of innovative services allows us to find a fast, attractive and competitive solution for your online business, We serve merchants worldwide in nearly every genuine industry, Our Application process is quick, easy and simple. Sign up today and start accepting online payments from your customers. Give your customers the options they need!

ACH Payment Processing

Having credit card solution does not give the flexibility to the merchant to collect the payment from all customers. For many merchants, this can be a missed revenue opportunity. HighRisk Gateways flexible ACH Payment Processing and eCheck payment options offer.

High-Risk Merchant Account

HighRisk Gateways always care for our merchant’s business as our business. We think and act like your business partner by serving high-risk credit card processing and eCheck/ACH processing. Opening a merchant account with Highrisk gateways is not.

Payment Gateway

For any online business, reliable and secure payment processing is critical. HRG provides world-class payment processing services for online businesses just like yours, providing a full suite of complimentary merchant services in order to drive maximum payment.

eCheck Payment Gateway

HighRisk Gateways is a well known trusted check payment gateway provider in the Indian market. HighRisk Gateways can place almost every Indian genuine business for E-Check, ACH or Check21. Which allow the merchants to add the check option in their various payments platform. Your business may be a high risk and high volume.

Credit Card Processing

HighRisk Gateways can help you to accept electronic credit card payments quickly in an affordable manner by Credit Card Processing solutions. With a network of proprietary processing platforms and systems by our banking partner, you can rely on these solutions to process all types of payments for yours.

International Merchant

High Risk Gateways is an online international payment gateway service provider, specializing in e-commerce merchant solutions for high-risk merchants. We accept merchants of all sizes and all risk types from low to high risk. Through our online secure, cutting-edge payment technology platform and our.

About High Risk Merchant Account And How You Can Manage Them

A high-risk merchant account isn’t easy. For starters, this label comes with a negative connotation about your business, and assumes you aren’t running a reputable company with good products or services. In layman’s terms, a high risk business is one that banks and credit card processing companies consider risky. Sometimes this is because of ties to your previous businesses, and other times, it can have more to do with the industry you’re in. What’s important to understand is that this isn’t the end of the road for you.

There are many ways you can continue running your business through partnerships with high risk credit card processing companies. Typically, these companies work exclusively with high-risk merchants who aren’t able to get a traditional processing agreement. Because of this, they can often be the light at the end of the tunnel for entrepreneurs who feel they’ve exhausted their options.

Understanding The High Risk Merchant Label

To take the best steps towards being a better business, it’s important that you understand what high risk really means for you and why you were put into that category in the first place. Understanding why makes it easier for you to fix moving forward. Here are some reasons you might be labeled as high-risk:

Too Many Chargebacks: A chargeback is when a bank initiates a refund on behalf of their customer after a complaint. A customer might complain if they’ve never received their product, have an issue with their product, or believe a business falsely represented what they offered.

Low Credit Score: As with any type of business or government agreement, your credit score matters. A credit score that’s too low will raise red flags for banks and processing companies. You may be able to circumvent this with a cosigner who has a high credit score.

New Market: If your business is in a new or evolving industry, you may have trouble getting approved for credit card processing. The cannabis industry is a good example of this.

New to Payment Processing: If you don’t have a payment processing history, credit card processors may opt to hold back until you do. This type of high-risk label can be alleviated with a steady track record. Once you’ve deemed yourself reliable with a high-risk processor, you can re-negotiate or move on to a standard processor.

“Risky” Market: Being relegated to the high risk merchant categories sometimes happens only because of the industry you’re in. Adult services and travel businesses are examples of industries that credit card processors deem risky, even if you have a solid track record when it comes to personal credit and business credit.

Managing The High Risk Label

The first thing to understand is that this isn’t a lifetime label. Don’t worry; rather than consider this a blockade, just think of it as having to undergo a few extra steps before you can start working with traditional processors. The key is successfully managing your business and proving your reliability.

To do this, you have to be careful that there are no chargebacks, which is the most telling sign of a high-risk merchant. High risk merchants have to work a little harder than the average business owner to avoid issues that are common to any entrepreneur, but look bad on an already-labeled business.

One way to avoid chargebacks to provide exceptional customer service. You’d be surprised at the level of patience a customer can have if they communicate openly and honestly. Inaction from the business is a major reason many customers contact their backs to cancel a charge. When that customer can speak with a human regarding their product order or service, they’re less likely to take any actions that harm your business.

Keep customers updated on what’s happening in your business. For example, let’s say you own an eCommerce business that hand knits clothing and blankets. You put out a few Facebook and Instagram advertisements and suddenly, hundreds of orders are placed and you don’t have the product to fulfill it.

Merchant Stronghold for High Risk Offshore Merchant Account In USA

About Merchant Stronghold

Merchant Stronghold is well known for its services and fast processing system for High risk offshore merchant account. We have been voted #1 High Risk merchant service provider in the year 2015 and 2016. If you are looking for an offshore account for your high risk business, you have reached the right place. We provide hassle-free all-in-one merchant account that includes everything that a high-risk offshore merchant requires to process successfully, which includes:

• Debit card processing
• Credit card processing
• ACH
• Payment gateways
• Chargeback management services

Merchant Stronghold also provides facilities that make accepting payment way easier, these facilities are:

• POS machine service
• Virtual terminal
• Online setup
• Why choose Merchant Stronghold

Merchant Stronghold is in the market since long and has maintained good repo by providing best services to our clients. Our commitment to excellence drives our interactions with clients, customers and each other which helped us in attaining 100% customer satisfaction rate. Following are the things that make our service better than the other players in the market:

INTEGRITY

Integrity, trust, and honesty are the foundation of everything we do as a company. We look for health and long-term relationship with our clients and not just looking for one time sale.

TEAMWORK

We operate as a team, sharing experiences, resources, and opportunities. We help others when they need it and ask for help when needed. As a team, we along with our clients, workout for best solution which not only meets all the current needs but also meets the need of near future.

INNOVATION

We make every effort to translate creative and unique ideas into services, products, or processes that create value. We have a well knowledgeable and creative team which works hard to come up with new and better solutions all the time, depending on the requirement of our client.

COMMUNICATION

We foster an environment where all associates’ voices are heard and everyone is encouraged to share their opinions. We work as a team and appreciate active participation of all our employees, encourage new ideas and irrespective of their designation, value their opinion. Not only with our team but we also respect any valuable suggestion from our client.

ACCOUNTABILITY

We are responsible to each other, to our clients/customers and to ourselves to do the right thing. ‘Product sold’ is not our aim. We take responsibility for each and every service we provide and have a team on standby mode 24*7, 365 days to helps our clients with any issue they are facing.

FAST SETUP/APPROVAL

We expertise in our service and are capable of getting same day approval that includes gateway integration, which makes it possible for our clients to accept payments faster without wasting time be standing in a big queue. Our 12 processor relationships ensure 98.7% of accounts approval. We assure you to get started with your business as soon as possible.

RELATIONSHIP WITH BANKS

We have successfully maintained a good relationship with most of the major banks in the home country as well as abroad. Hence, if you are looking for an offshore merchant account for your high-risk business, we are just a call away.

How Do Payment Gateways Work?

Payment Gateway: A payment gateway is an e-commerce application that authorizes payments for e-businesses, online retailers, bricks, and clicks, or traditional brick and mortar businesses. It is the virtual equivalent of a physical point of sale terminal located in most retail outlets. Payment gateways encrypt sensitive information, such as credit card numbers, to ensure that information passes securely between the customer and the merchant.

How Does Payment Gateway Work?

A payment gateway facilitates the transfer of information between a payment portal (such as a website, mobile phone) and the Front-End Processor or acquiring a bank. Here is a step by step guide detailing how Payment Gateways work:

Step 1: A customer places an order on the website by pressing the ‘Submit order’ or equivalent button, or perhaps enters their card detail using an automatic phone answering service.

Step 2: If the order is via a website, the customer’s web browser encrypts the information to be sent between the browser and the merchant’s web server. This is done via secure socket layer encryption.

Step 3: The Merchant then forwards the transaction details to their payment gateway, this is another secure socket encrypted connection, the payment gateway forwards the transaction information used by the merchant’s acquiring bank, The payment processor forwards the transaction info to the card association.

Step 4: The credit card issuing bank receives the authorization request and sends a response back to the processor with a response code.

Step 5: The merchant submits all their approved authorizations, in a “BATCH”, to their acquiring bank for settlement via a processor.

Keep your transactions secure

• The security of payment processing Is extremely important. Here is a list of some of the technical details that happen with payment gateways to ensure the process is secure.
  
• Since the customer is usually required to enter personal details in the transaction process, the payment gateway is often carried out through HTTPS protocol.
  
• To validate the request of the payment page result, signed request is often used- which is the result of the hash function in which the parameters of an application confirmed by a secret word, know only to the merchant and payment gateway.
  
• To validate the request for the payment page result, sometimes IP of the requesting server has to be verified.

Which is the best and cheapest way to buy offshore merchant services?

Merchant services are an essential purchase for near enough all businesses and business owners will typically turn to their own bank for these services. Unfortunately for business owners, this is not usually the cheapest way to source payment processing.

At first, the difference between deals might seem negligible with just one or two percent difference but those small differences will quickly add up as your business grows. Getting a bad deal on your payment processing can cost you tens of thousands of pounds every year.

In this article, I’m going to look at the most popular merchant service sales channels and touch on how competitive the pricing is.

Banks

Near enough, all banks will sell merchant services to its business customers. If you have a business bank account then most certainly you would have been asked the question about card acceptance by a banking manager or representative.

The fact is that most banks don’t actually own their own merchant service products. Instead, they partner with a card processor and resell their service. RBS and Natwest is a sales agent for Worldpay, HSBC resells Global Payments, Santander uses Elavon and Lloyds and Halifax use First Data. 

• So why do business owners trust banks to provide a third-party service? Perception!
• People see banks as reliable and they assume that their staff has extensive product expertise.
• Sadly and surprisingly, that’s not the case.
• There’s one main reason why I would strongly recommend you avoid buying merchant services through a bank: Price.

Card processors love selling through a bank because it’s an easy win as leads are handed on a plate. You see, most businesses will turn to their bank for merchant services and tend to accept their pricing without question, simply because the business owner may be new to the whole process and doesn’t know any better and they assume by going directly to the bank will get them a better deal as it removes any middlemen.

This allows the banks to rack up their fees and make a small fortune off their business customers. Worse still, the banks are given very little wiggle room by the card processors so can’t reduce their fees even if you push them on pricing. This may seem surprising but it's very true.

Merchant bank/Card Processor

The worldwide web has made it simpler for consumers to buy directly from manufacturers or suppliers and cut out the expensive middlemen.

Merchant services are, in theory, the perfect example. Instead of going to your bank and buying a product at an inflated rate, the other option for you is to go straight to the card processor/merchant bank direct and buy from them. That’s one less step in the buying process so it must save you money, right?

Unfortunately not. While cutting out the middlemen should mean a better deal for customers, it’s not always the case.

Card processors are well aware that any business owner who calls them has pretty much decided that they want to use their product. That means they can bump up the price without losing too much business. The price you get direct from a card processor isn’t quite as high as the bank rates but it’s certainly not competitive, especially as a new business owner, as the merchant banks take advantage of this fact.

Now, unlike the bank salespeople, sales staff at card processors do have leeway to negotiate on price. So, if you decide to buy directly through a card processor, negotiate as hard as you can to secure the very best deal possible.