Online Credit Card Processing for Your Business

Online shoppers want to get the same benefits from your ecommerce store that they get from brick and mortar retailers. Offering a wide range of payment methods will make your customers feel safe and comfortable and they will increase their online shopping. Accepting credit/debit cards in your online store increases your sales. The problem that many online business owners face is that they are confused by the many choices available and they don’t know where to start.

There are two ways in which an online business can accept credit card payments online;

Real time online credit card processing

Here is where the customer submits their payment information and the payment is processed online through a payment gateway. Even though the payments are processed right away, the costs are usually higher.

Card present or swiped

The merchant will collect the card information by swiping the card through a mobile card reader or credit card terminal. The costs involved here are much lower than card not present or online transactions.

For a business to start accepting online debit and credit cards, they first need to have an online merchant account and payment gateway. And just like any other business decision, you have to adequately research before selecting a provider that you feel is right for you.

Setting up an online merchant account that is quality and secure is critical if you want to launch and operate a successful business. You can avoid unnecessary fees and charges if you find a provider that understands how to set up an online merchant account correctly and understands the needs of your business.

A merchant account may have cost implications like set up fees, application fees and minimum monthly fees. It may also take up to a month for your account to be fully set up and one has to be patient. Depending on your credit history, your application may or may not be approved and you will need to estimate your sales volumes to know the approximate number of transactions you will expect per month.

When shopping for merchant account providers, you may choose to go with your local bank of one of the many available online merchant account service providers. If you already have an offline credit card processing merchant account, then you can just ask your provider to add an online processing feature to your account.

Online payments for medical billing

Medical payments via credit/debit card will help reduce the headaches of bill collecting from patients and processing them. A merchant account gives your patients the freedom and flexibility of making payments in various forms. The system works in a very simple way; the client pays using their credit/debit card, the payments get processed immediately and. There are many available credit card processing systems that are customized specifically for medical billing and come with other features that make your billing work easier.

Law firms

With the growing trend of accepting payment through credit and debit cards, attorneys and law firms that are looking to accept credit card payments have a lot of available options in the market. There are providers that offer services that are specifically tailored for attorneys and are even endorsed by associations but a firm is also free to use the standard credit card processing services that are available to the other businesses. For those lawyers who have reaped the benefits of accepting credit card payments from their clients, they have realized that it is one of the ways of attracting and maintaining clients.

Mobile payments

Mobile commerce and e wallets have recently emerged as the standard payment of the days to come; merchants are trying to position themselves for tomorrow by trying to meet the demand for mobile credit card processing.

Whether it is accepting credit cards through a mobile devices or accepting mobile payments via a Smartphone, mobile credit card processing has become prevalent and will continue to grow in its usage and adoption.

The capability to accept credit cards through a mobile device gives your business the flexibility of accepting remote payments with ease and securely. Merchants can easily process real time transactions from any locations as long as they are connected to the internet.

How to get a Free Online Credit Check

Knowing your credit score can save you from the embarrassment of being declined for that loan, car lease, or mortgage, as well save you thousands of dollars. So how do you find out your credit score for free? Read on to find out!

What Exactly is a Credit Report?

A credit report consists of a detailed list of your credit history maintained by one of three main US credit reporting agencies: Equifax, Experian, and TransUnion. You can imagine it as a report card that holds information on all of your current and past financial activities. When you apply for a loan, the lender requests your credit report from one or all of these agencies and uses it to help determine whether or not to approve your loan. All of the factors in your credit report are used to calculate what is know as your “credit score” which is between 300 and 850, the higher it is the better.

Why Should I Check My Credit Score?

Checking you credit report might seem like a difficult and expensive task to carry out, and in the past it usually was, but with recent advances in modern technology, namely the internet, checking your credit score online is simple and FREE! The Federal Trade Commission requires all of the major national credit reporting companies to provide consumers (that’s you!) with a totally free copy of their credit report if requested, up to once every 12 months.

Now that you know that facts about obtaining your free online credit check, here are a few of the reasons why you should take advantage of this opportunity:

1. Help Prevent Identity Theft and Fraud.

Identity theft occurs when a criminal uses your personal information, such as your credit card number or Social Security number, to carry out fraudulent activities. When you obtain your credit report you are able to check over your credit history and make sure that no one has negatively affected your credit score through identity theft. If you do happen to find any fraudulent activities or inaccurate information on your report, you can contact the credit report agency or credit card company involved, and have them correct this inaccurate information.

2. Avoid Embarrassing Credit Surprises.

Which way would you rather find out you have less than perfect credit; when the bank or car dealer tells you so in their office, possibly in front of your friends or family, or when you request a credit report in the privacy of your own home? Knowing your credit score is the best way to avoid being put into an uncomfortable or down right embarrassing situation. Not to mention it can save you bundles of time. Knowing your credit score, and what is on your credit report, will help you make more informed decisions in a vast array of financial situations.

3. Correct Inaccurate Information.

It has been reported that approximately 1 in 4 credit reports contain serious errors, many bad enough to impact the consumer’s eligibility to obtain a loan. Credit reporting agencies have very sophisticated and precise credit reporting protocols, but nothing is 100% foolproof and mistakes do happen. Sometimes outdated information will remain on your credit report longer than it is supposed to, negativity impacting your overall credit score. Obtaining a free online credit check is a great way to make sure your information is correct and up to date, before applying for a loan or new credit card.

How Do I Get a Free Online Credit Check?

Online Credit Repair – Avail of Free Services to Help You

If you want online credit repair, there are many services online that will guide you through the process of repairing your own credit record for free. Bad credit does not have to be with you forever and you can take steps now to repair your own credit record. There is no need to pay out hundreds or thousands of dollars to get the help you need. By searching for online credit repair, you will find a wealth of information to help you. Credit repair online is very achievable.

If you do decide that you need help, read the information available online. Credit repair is something that will take time so you shouldn’t expect it to happen overnight. You can start by consolidating your bills with one debt reduction loan. Contact your bank or lending institution. These organizations have credit counsellors who will help you with bad credit repair.

The counsellor will help you determine the amount of money you need to borrow to pay off your bills. If you have many bills, then you can choose the ones with the highest monthly payments, leaving you with a manageable monthly payment. With online credit repair, there are many ways you can find counsellors to help you without going through your bank, but these will charge a fee for the services. You don’t need to waste any more money by paying unnecessary charges to help you with bad credit repair. Online credit repair is like any credit repair, it’s a matter of finding the right resources.

The main thing with bad credit repair is to make a conscientious effort to pay your bills on time. If possible, pay a little more than the minimum monthly payment. This not only helps to repair your bad credit, but gets the bills paid off earlier because you reduce the amount of interest charged on your account. Online credit repair help is available from all of the credit bureaus and there are even guidebooks online to help you with every step of the process.

One of the suggestions you will get from an online credit repair service is that you should pay as much as possible on your bills that have the highest amount of interest. If you are paying off a credit card, instead of putting money in the bank to have in case of an emergency, pay it on the credit card instead. This way if you need extra money, you still have the card to use. Tips for bad credit repair from online credit repair sources will also tell you that you can have a prepaid credit card so that when you spend any money, it will not put your further in debt.

Online credit repair can work very well, if you find the right resources.