Making Online Profitability a Reality

With the increase of Internet sales, thousands of people are getting started in the online retail world, seeking their fortune. Yes, there is quite a fortune to be had, but only when done correctly. Online buyers are becoming savvier by the second, and just as we have found an increasingly scrutinizing consumer eye in the real retail world, online consumers are very leery of losing their money or getting ripped off. That is why every ecommerce business must be very strategic in establishing their web presence and customer interface. Here are a few suggestions to get you started along the path of a profitable online business.

Filling your website with valuable, rich content regarding the subject matter of your business is an invaluable way to boost your site to an authority status. The better your content, the more people will link to you and the more people will become engaged. This makes them much more likely to return and spread the word to others. There is no substitute for quality verbiage and helpful content. The more unique and focused your website and its content, the more likely visitors are to consider you an authority in your niche of business. Fresh, quality content also influences your business’ branding effort. Branding is one of the most important aspects of your business image, and with the advent of ecommerce, it may very well become the single most important part of your marketing presence. Consider how your business might effectively develop your own brand name. It will go a long way.

The next very basic thing to include on your website is the ability to process credit card payments. Credit card processing decreases overhead, increase ease of purchase, and legitimizes your online store. In order to establish credit card processing you will need to obtain an Internet merchant account. There are various providers and plans, so do your homework and find an Internet merchant account that works best for you.

If you really want to be successful, you should also concentrate on the design concept and development of your website. Many online retailers under-budget or spend little time considering their website’s actual appearance. Believe it or not, this is actually a very important factor for online buyers. Just like in the real world, people like to be surrounded by nice design and organization while shopping. This is also something that will continue to shift as your business grows, which leads me to my next point. You must use some type of tracking or analytics on your website so that you can follow your visitors and see where they might be having hang-ups or where you are losing their attention. This is a constant process of improvements and is vital for maximized profits. Leave your site alone, and it will grow stagnant.

The final, most important concept when starting an ecommerce website is a long-term vision. Many retailers are looking to start turning profits immediately, but the reality is that most sites take several months if not years to develop into profitable endeavors. For this reason it is important to keep working hard to improve your site with a vision for the future. Just because you are not seeing the results you expected up front does not mean it will not develop into an extremely profitable business. So hang in there!

About the Author: Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is an electronic payments company as well as an eCommerce and Internet merchant account provider. Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

Denied a Merchant Account Due to High Risk? Don't Panic!

If your business has been labeled high risk, you might find it a little difficult to find a merchant account provider. This is due to the high amount of charge-backs or cases of fraud associated with particular services or product types. The sad thing is that many businesses are actually very legitimate and honest but still have trouble getting approved for merchant accounts simply because of the category of business they do, regardless of how they do it. For this reason, many businesses are forced to consider obtaining a high risk merchant account so that their business can begin accepting credit card payments and build their credibility. Once you have proven the stability and legitimacy of your business, changing or applying for more accounts will become much easier.

So what kinds of businesses get flagged as “high risk” and why? There is a long list of business types that are considered high risk. The most typically declined businesses include things like alcohol, adult products, pharmaceuticals, online gambling, dating, and auctions, software, debt consolidation, coupon clubs discount services, herbal products, magazines subscriptions, political organizations, travel services, internet services, weight loss program and more. As you can see, it almost seems like the most popular industries on the web are the ones that are flagged as high risk, so don’t feel bad if your business receives this kind of treatment. You are not alone. Many of these categories are consider high risk because of the number of stop payments, charge backs, fraud, and spam associated with them. Ultimately, these problems are caused by bad business practice, but just because you are involved in that industry does not mean you share the same methods. These are just the facts of life. Because you have chosen to pursue this industry you will meet certain adversities.

So once you have accepted the fact that your business is considered high risk and understand the that this does not mean your business is dishonest, fraudulent, or a scam, you are ready to find a high risk merchant account to get you started. Of course, because the merchant account provider is “taking a risk” in accepting your application, the interest rates and fees are going to be a little higher than those for other businesses. Though it may seem unfair, it is still something you can easily overcome. The ability to process credit cards is usually much more valuable than the high fees or percentages. Your merchant provider will need to assess all possible risk before issuing an account. There are several steps involved in this process, so it is important to find a knowledgeable sales representative to explain everything clearly. The basic investigation includes a review of the products, services, or membership provided by your business. Next comes a full criminal background check and information cross check. This is also the time when the provider will obtain any information about previous terminations or problems with merchant services. If you have a bad history with merchant services, it will be even more difficult, and probably include more fees. These are just a few of the ways a legitimate high risk merchant provider will investigate you and your business.

In any business there will always be obstacles, that is just the nature of life, but don’t let “high risk” status discourage you too much. Your business may still very well be a very legitimate and profitable idea, which is why a high risk merchant account is certainly worthy of consideration.

About the Author: Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is an electronic payments company as well as an eCommerce and High Risk merchant account provider. Merchant accounts make it possible for businesses to use credit card merchant account processing. For more information on credit card processing visit www.stradafee.com.

Offshore Banking Background

If you are familiar with the concept of offshore banking, you know that this refers to banking that is actually located outside of the account holder's country, and it is usually in a lower tax jurisdiction in order to provide legal and financial advantages. Those who seek an offshore account are usually attracted by strong privacy policies, less restrictive regulations, little or no taxation, easy access, and protection from possible instability in local economic or political circumstances.

Originally referring to the Channel of Islands off the shore of Great Britain, many offshore accounts continue to be housed on island soil. However, many of the most trusted and utilized offshore banking establishments are now located in countries that are entirely landlocked. These include places like Luxembourg, Andorra, and Switzerland, to name a few.

A misconception of offshore banking is its association with organized crime or underground markets. Yes, offshore accounts have been used for these purposes for obvious reasons, but there are also many legitimate endeavors for which offshore banking can be used. The most recent addition to the spectrum of helpful offshore banking solutions is that of the offshore merchant account. Offshore merchant accounts make it possible for business to collect credit card payments into their offshore account. This might be fore transactions at a retail store, an online shopping cart, or even over the phone.

Why would someone consider an offshore account? One of the biggest reasons people choose to open offshore accounts is for security, especially in the event of any turmoil in the political atmosphere. Some offshore banks can offer high interest rates on savings account because they have fewer regulations by the government. Also, the interest paid is usually paid without tax being deducted. On top of that, many offshore banking solutions also offer some services that are not found in domestic banks. Some examples of these would be anonymous bank accounts, loans with better interest rates, and other business opportunities. Some advocates of offshore banking also claim that it brings competition to domestic taxes and banking, and therefore allows individuals to choose an appropriate balance of services and taxes.

This brief little explanation of the origins and uses of offshore accounts should help you start your investigation as to whether you would like to open your own. Remember to heavily consider the advantages and disadvantages and be very leery of making any decisions that might put you in legal jeopardy.


About the Author: Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is an electronic payments company as well as an eCommerce and offshore merchant account provider. Merchant account providers make it possible for businesses to use credit card merchant account processing. For more information on credit card processing visit www.stradafee.com.