Why Do High Risk Merchant Accounts Cost More?

Today, having a merchant account is more of a necessity than a luxury geared toward your customers making impulsive versus need based purchasing decisions. Businesses, small to large, traditional or virtual are all eager customers of banks and processors the world over; the banking industry has changed regarding merchants and their credit card processing capabilities over the last few years. Due to the dominance of online storefronts merchants, banks and processors have been inundated with requests for merchant accounts for mainstream as well as specialty industries.

Banks generally classify merchant accounts into two risk categories, high and low; as there is really no in between, the only variance are terms, volume and the merchant’s discount rate. As a capitalist society, the US and even western European countries perceive ideas as opportunities and tend to mount an all out attack on industries and markets. The internet has enabled hungry businesses to achieve high volume, both in terms of sales volume and net and gross profit. As this isn’t a, “which came first, the chicken or the egg,” discussion, the reality lies in the timeline which shows that the internet has made possible a new consumer and a new merchant. With high volume sales in a virtual setting or even over the phone sales, it comes as no surprise that banks and processors place these merchants in the high risk category. There are a lot of reasons for this; lets cover the most obvious reasons that a merchant might be considered high risk. Risk factor depends on the likelihood that a chargeback might occur. As chargebacks are less likely in traditional storefronts due to customer signatures and the ability to verify the cardholder’s identity, those businesses tend to receive lower rates and be less restrictive. Ecommerce ventures and situations where card not present transactions occur pose more of a risk to banks and processors not only because of obvious consumer fraud and identity risks, but because of product and service quality, authenticity and fulfillment hazards as well. The fate most of these businesses endure is high rates, security deposits held for impending chargebacks and lower processing volume than they would like.

Merchant service providers or brokers have a foothold in these sub-markets as the rates aren’t going down and the banks and processors aren’t seem to be tightening their hold on merchants. A merchant service provider’s role is simple; find the best deal for their customer. What this means is different for each merchant and even certain industries. What it typically entails is sourcing banks and even specific processors for those industries and businesses; geographic location even plays a role. The refreshing part about dealing with a merchant service provider is the ability to custom tailor their processing. What that means for a merchant is the ability to monitor their accounts online or have a virtual terminal that can organize and batch daily or weekly submissions easily. For online merchants, whose entire business may be ran on a laptop computer, this type of flexibility is priceless. Going off shore and having an international merchant account is more popular today than it was in years past. Many merchant’s markets span the globe and the influx of currency transcends a simple geographic location. Basically, it doesn’t matter where the bank is, as the money is converted, taxes are paid and the money is available anytime. The costs for doing business internationally are not as high as you might think, but there are costs. For more information, contact a merchant service provider.

About Stradafee:

Stradafee is a leading international payments advisor based in New York. Stradafee is a retail and ecommerce credit card processing provider specializing in global retail and internet merchant account solutions. Stradafee also offers check processing, multi-currency processing, high risk merchant account and offshore merchant account options. Stradafee can help businesses of almost all industries and sizes. For more information on check and credit card processing please visit www.stradafee.com

Written By: Sager G. Loganathan

Merchant Accounts for Ecommerce Business

Every business small, medium or large needs a merchant account. Today, it really doesn’t matter what your individual business is, if you are in retail or even low volume wholesale, then you can enjoy increased profits from the ability to accept credit cards. Markets change, however they may grow, and the internet has been hailed as the biggest contributor to their expansion. To say that the success that credit card processors and banks have had a fair shot at traditional, brick and mortar businesses is a fair assumption based on the thirty years that credit card processing has been available to businesses in the United States. The internet has made the transition for those businesses as well as new internet based businesses to thrive in international markets. Whether your business is product or service based, there is a market; in fact, some industries rely on the internet for their entire market. These types of businesses have bridged gaps between international and domestic business in that they have forced consumers to cross borders for their products and services.

The unfortunate reality of ecommerce is that while the businesses may be completely legitimate, they pay rates generally reserved for truly high risk businesses by banks and processors, daily. Domestic banks see ecommerce as high risk; their customers, a mystery and the business transcendent. The regulations that rule and preside over merchants and their credit card processing capabilities are antiquated to say the least. To say more is not necessary. Merchants have found ways to keep their processing fees low, or lower than traditional methods. Just as the internet brought together merchants and their customers, it has connected the very same merchants with international banks and processors that offer competitive rates while letting them enjoy higher volume limits and less restrictive regulations. Merchant service providers are a great resource when it comes to acquiring an international merchant account. Unlike many domestic banks and processors, they foster many relationships with banks worldwide with the ultimate goal of successful integration for each and every business that shows interest in their processing solutions. One of the keys to their success is no secret. With that much versatility, merchants can actually have a custom tailored credit card processing solution just for their business. They can offer full integration with the processor through them within seven days and services such as virtual terminals, third party fraud scrubbing, 3D secure processing and real-time reporting. With so many options out there, it will benefit the merchant the most by contacting a few merchant service providers and choosing the one that best fits your business and works within a time zone that you can live with. Another factor that separates certain brokers from others is that some specialize in certain industries and even businesses. For specialized industries, finding a merchant service provider that works your busy hours, can identify, help resolve and even protect your business against chargeback’s is one of the greatest assets you can have as a merchant.

About Stradafee:

Stradafee is a leading international payments advisor based in New York. Stradafee is a retail and ecommerce credit card processing provider specializing in global retail and internet merchant account solutions. Stradafee also offers check processing, multi-currency processing, high risk merchant account and offshore merchant account options. Stradafee can help businesses of almost all industries and sizes. For more information on check and credit card processing please visit www.stradafee.com

Written By: Sager G. Loganathan

ONLINE STORE HOW TO CHECKLIST

So you are thinking of hosting an online store? You’re not alone as you know, and today the competition is getting stiffer. Most people that own and operate successful online retail sites have run the gauntlet of e-education the hard way for as long as online vendors made money the “easy” way. Well it’s not easy as we are trying to elaborate and there are basics that most people have nailed down; however there are the simplest of details that elude many new to the business, that don’t bear there ugly face till it’s too late.

An idea, a concept is not the most difficult of tasks to complete on the road to virtual success, but a necessary one. The question is, “Do you have a valid business plan?” Is your product or service in need by consumers? Most importantly, in starting this new online business, are you infringing on other like businesses or in conflict with a current or previous employer. If you cannot answer these questions, stop here and get them answered. Consulting with an attorney, if even for an hour or two may be sufficient. What you want to know is if your new business name or product is under copyright or contract with other companies and if there are legal restrictions on your industry, product or service. Finding the answers to these questions when it’s too late may prove to be expensive.

Securing suppliers and negotiating contracts is necessary. Shopping around for a manufacturer or supplier that allows you to vary your stock depending on your market needs is optimal; however, minimums and non-compete contracts often leave vendors with a lot of red lollypops when black licorice is all the rage. When starting out, try to negotiate the shortest term contracts you can. It leaves things open-ended, and that always benefits retailers more than their suppliers. Some industries have dominant products or little variety, so the answer is up to you, “Do you play it safe, or become an agent of change?”

My all-time favorite check to mark on the list is payment processing. I’m not talking about cash (which is king) or personal checks (hmmm), but your ability to accept credit cards. First things first, there are a lot more options available than asking the teller at the bank where you do your personal banking about a merchant account. In fact, that’s the last place I’d turn to, but that’s me. Next is what types of cards will you take. I hate it when I walk into a new store and have to look at the door to see what cards they take, if any! Yes, there are stores in my town that don’t take credit cards, some impose fees on each transaction (you can lose your merchant account for that) or require minimums for credit card usage (also a big no-no!) I don’t say much because the one is a deli and I prefer my turkey sandwich without spit and buggers. After basic card acceptance, the ability to accept Amex is definitely a plus. Believe it or not, many retailers don’t take it; number one reason being… Most US domestic banks impose higher fees on it. Quick answer? Go offshore, it’s a big world and internationally, Amex is very popular other places (hmmm, again.)

So now we’ve gone offshore; nothing wrong with it. In fact, it’s so mainstream today, that many merchants are getting paid partially or even in full in foreign currency, due to the weak US dollar. Obtaining a merchant account form a non-domestic bank is every bit as easy as a domestic one, they have proven to just as if not more secure than domestic banks due to enhanced third party fraud scrubbing and in-house processing (not farmed out.) Your tax structure is the same and all funds must be claimed, if you were wondering. A real benefit of an offshore merchant account is that international banks don’t often impose extremely high discount rates and erroneous fees that many domestic banks do. The reason is really simple; non US countries need to depend highly on purchases outside their own markets and that means a lot of credit card transactions. In my opinion, international and offshore banks are years ahead of western banks, but that’s just my opinion. Merchant service providers or merchant service brokers are a pretty good resource while you’re shopping for a merchant account. Touted more as industry insiders, they have relationships with a lot of banks and independent processors out there and can often custom tailor a processing solution just for your business.

In all, it’s a lot of information to take in, thanks for reading along and good luck in your new online venture!

About Stradafee:

Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in global retail and Internet merchant account solutions. Stradafee also offers credit card processing, check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit http://www.stradafee.com.

Written By: Sager G. Loganathan

Should you Start an Online Business?

That question picks at so many small and even medium size business owners every day. If the answer was easy to answer, then the criteria for success in a virtual environment would be well defined and on a very short list. As there are so many types of businesses, the questions every merchant has to answer are as different as the businesses that they own or operate. In today’s economy, one would think that running an online business is a no-brainer compared to growing costs of traditional brick and mortar businesses.

The first two things to consider are whether the business is product or service based and is this, a spin-off from a walk-in store or going to be solely an online venture. Product based internet businesses naturally flourish in competitive environments when product supply and manufacturer variety is high. Online vendors spring up quickly enough to turn high profits due to high volume sales; some weather the storm, while others diversify, close up shop or struggle to maintain their sales relationships with the customers that they’ve done business with. For service based businesses, developing a clientele and maintaining a mutual trust is even more important than competitive pricing and service after the sale. Nothing could be more truthful in the ecommerce world that you just don’t know who is on the other side of the computer than in the internet-based service industry. It is best to leave it up the individual merchant what if any service-based internet business should be embarked on; however, the risk is lower on the product=based side of the table.

Keeping up with your clients and industry is so much of a gamble. As the internet can propel an individual, website or concept so quickly, every new merchant needs to have a plan in place for an influx of business. Pre-negotiated contracts, pertaining to volume discounts, lead times and actual inventory on hand are all tools that should be a must have going forward from conception and maintained throughout vendor-retailer relationships. Not fulfilling an order is e-suicide. Customer communication, in the event of backordering or out-of-stock items can save your e-life.
Have a multi-year plan, not necessarily a five year plan is not an outdated idea. We often like to think of the internet as a structure-less environment; however, failure to plan is a plan in stone for failure in the virtual world. It sounds cliché, but as the pre-eminent ever changing environment not researching, one-upping or tapping in on new ideas, markets or trends will leave you in the dust.

So, now you’re successful, your clients are satisfied and the future looks bright. Not bad, right? Commonly overlooked in even the long list of tasks to be completed by virtual merchants is maintaining and optimizing their merchant account. When it comes to getting paid, every merchant follows the money right to their bank; what many overlook is how much they are paying in fees and rates each month. As nearly all internet-based businesses are considered to be a moderate to high risk by banks and processors, many online merchants are turning to merchant service providers to secure them off-shore merchant accounts from international banks that offer secure, timely and inexpensive credit card processing.

As running an online business is as challenging, or even more so than running a traditional brick and mortar business; there are many obstacles and pitfalls to encounter. These were a few that we thought could be helpful. If you have any suggestions or comments, please, feel free to let us know.

About Stradafee:

Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in global retail and Internet merchant account solutions. Stradafee also offers credit card processing, check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit http://www.stradafee.com.

Written By: Sager G. Loganathan

How To Network On Myspace

First there was the internet, then ebay, then google; now Myspace is quickly becoming a gateway for many internet users simply as a navigation tool. Essentially, this type of generic purposeful use of a specific URL is the epitome of what businesses and website designers strive for as it brings together a large variety of people that probably wouldn’t have otherwise met. As we all know what Myspace is; the importance of Myspace as a networking tool is that the user controls their level of interaction, accessibility and level of contact with other users from very broad to very specific.

Myspace like a few other popular meeting and self promotional web venues started with the younger generation in mind as a way for youth to associate and identify themselves with others like them and those they like. As many sites develop, the profiles of their users change as well. Today, Myspace has effectively bridged the generation gap and proved itself to be a useful tool for families, friends and classmates to keep in contact with each other as well as communicate events and other news in their lives. The future of the website and others like it is for businesses to host their own promotional webpages for their customers to visit and as a way to attract new clientele. Like advertisers have purchased ad space on websites for years in an attempt to attract specific demographics, self advertising on Myspace and its competitors may prove to be networking goldmine with the result being, creating new customers for merchants through continuous education and communication by the business and perspective clientele. There are as many possibilities as virtual commerce has no boundaries; however time and participatory levels will eventually determine how fast and far these types of networks will succeed.

Examples of networking through Myspace or other like sites may be as simple as a small business owner hosting a page that lets its customers communicate with one another about their products, or a cheap but effective way to keep clients aware of company news and direction or even an upcoming sale. More complex pages may assist merchants actually perform transactions by posting pricing and availability of products or services and the customer actually being able to make a purchase in real time through payment portals set up on the page for payment by credit card or check. As simple as it sounds many small business owners either turn to their own website construction or may want to keep or set up a Myspace page for more simple interactions. Those that may choose to set up interactive pages may find a hurdle to overcome in setting up a portal for their credit card processing. While it’s not difficult to actually find a bank that will set you up with credit card processing capabilities, the challenge is in the shopping. Nearly all online credit card transactions are considered to be high risk by banks and processors, so the concern is that high rates and excessive fees may turn the lure of a low budget ecommerce venture into an expensive headache. This type of business development is very much on the radar merchant service providers. Merchant service brokers or providers foster relationships with numerous banks and processors, giving them options for their clients when it comes to the right fit for them and their business.

As networking through and setting up business contacts through Myspace type sites is geared toward new and budding businesses, consulting with a merchant service provider may be educational and ultimately beneficial for you.

About Stradafee:

Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in international and Internet merchant account solutions. Stradafee also offers check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit http://www.stradafee.com.

Written By: Sager G. Loganathan

Principles of Selling Online

By this time, should we really be talking about this? This isn’t an article about online business ideas or a “How to” article on how to go about starting a successful business on the internet. This is directed more towards current ecommerce merchants and merchants that run successful businesses that see the value extending their businesses in cyberspace.

Rule number one is and will always be drawing customers into your online store. Imagination isn’t the key here anymore. Gimmicky half-baked ideas and stunts geared towards promoting a website is just tacky and seems desperate. I won’t elaborate, and you know what I am talking about. If you want legitimate success, try to be a bit more conservative. Join industry forums and blogs, or become active in your industry offline. At the end of the day, people want to see a face behind the screen. If your business is strictly virtual, then make that your battle cry; for every strictly internet based retailer, there are a lot of shop owners that wish that they had your overhead.

So now you have a stream of new and perspective customers beating down your door. I sincerely hope you can fill orders and support the products that you are selling, after the sale. I find this to be the single largest complaint about online merchants, and their brick and mortar counterparts exploit these failures till the cows come home, as well they should. The bottom line is that if you cannot provide technical assistance for, knowledgably assist your customers about or act as a liaison between the customer and manufacturer pertaining to a product that you have sold… then your fate will be sealed by those who believe you wronged in exactly the same manner that started whatever mess you find yourself in. The internet can be an unforgiving and unfair environment for the wronged; fairly or unfairly. Limit your exposure and if need be, eat a little crow; it may save your reputation and future business.

Finally, my favorite part of online sales, getting paid! High volume, high profit margins and low overhead are the reasons that we became online merchants, right? Surprisingly, many ecommerce smarty-patsies have it all figured out, with staff, infrastructure and backing, only to find out that their merchant account is a two out of ten when it comes to volume, accuracy, security and cost. Essentially, every online merchant pays a higher discount rate than their brick and mortar counterparts; this is because card not present transactions are considered high risk by banks and there’s little that can change that. The risks that online merchants take by processing cards online are far higher; consequently the rate of their chargebacks is much higher as well. As this is looking like an expensive sport, the payoff is commensurate with the risk if your merchant account is in order. High volume equals high profits; don’t overlook your processing limits. It’s an easy mistake to make. Think of your merchant account like a credit card, but in reverse. Forecasting your business growth can hurt future sales and get you in hot water with customers whose orders were not fulfilled due to their cards not being charged. Merchant service providers prove to be an irreplaceable asset to online merchants as they can move quickly and have a lot of resources at their fingertips. International and back up merchant accounts are becoming more normal than using your local bank and trusting that they’ll come through when there’s a glitch. Merchant service providers can assist in resolving issues with processors, customers and issuing banks when it comes to their merchant’s accounts. Having a first line of defense when it comes to the security of your processing capabilities is worth actual dollars; dollars that merchants are not charged when using a merchant service provider. Essentially, today online vendors can have access to very competitive rates on secure processing solutions with high volume capabilities.

As these are just a few principles of selling online; there are many more depending on specific industries. Thank you for reading.

About Stradafee:
Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in international and Internet merchant account solutions. Stradafee also offers check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit http://www.stradafee.com.

Written By: Sager G. Loganathan

Online Banking for the Future

How long did you think it would take for us to completely integrate our lives with the internet? It is almost too easy; today, we can research, pay for and learn to fix almost any mess we've gotten ourselves in to. In so many ways, the ability to be online has totally encompassed just about every industry. As merchants, the internet can draw customers in, help them research your business and products from the comfort of their own homes and in many cases even purchase without having to walk into your store. The last part may not be a good thing, because the probability for lost sales is higher on the internet.

If you had to say that there is a final frontier for the internet to conquer, then it may be the banking industry. Today, potential investors and customers have almost all of the tools that traditional banks as well as semi-unconventional and unconventional lending, investment and savings and loan institutions can offer. In fact, some banks prefer their customers to not see a counter person at all. With direct deposit, electronic transfers and the online loan application process being so user friendly, bank customers can assimilate themselves with online banking as they have with electronic commerce and online vendors.

For online vendors, online banking has been a godsend as well. Internet based businesses often have few if not just one employee, being the owner/customer service rep, parts person/ service man and guy that sweeps the floor at the end of the night. For them, multitasking is an understatement and the autonomy of being their own boss wears off quickly. If you're laughing, then I feel sorry for you.

For small merchants and all merchants for that matter, the ability to handle their banking online can free up valuable time that they can use to run their business more efficiently. Reviewing statements, paying bills and transferring funds are all basic tasks that merchants do without even thinking about them, but what about their credit card processing? As banks continue to place restrictions on credit for consumers and merchants, many merchants are looking to international banks for their credit card processing needs. Not only do international banks immediately give the merchant the ability to process and maintain their merchant accounts online, but in most cases, the application process is completed online as well. This differs tremendously from the outdated application process your local bank had you fill out even five years ago.

While there are domestic banks that are interested in your business; statistically, offshore or international banks tend to be more competitive, less restrictive and may not impose certain fees that domestic banks do. Merchant service providers are a great resource for merchants that are interested in getting hooked up with an international bank. Typically, merchant service providers have relationships with a number of banks as well as processors. There are even merchant service providers that specialize in certain areas of industry.

It may be beneficial to research one out that does a lot of work within yours, as they are in tune with their customer's businesses, know how to react in the busy seasons and can handle their chargebacks efficiently. Merchants can use virtual terminals to process cards, are provided with electronic processing statements and often have members of the processing, bank and merchant service providing team at the end of an instant message. If you are a merchant that is interested in an online merchant account, contact a merchant service provider today.

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 http://www.stradafee.com

Just Where Are Our Dollars Going

You know, every so often I like to sit down and write to just vent about what the hell it is that is going on in our country…being the United States of America. As a business person, it’s somewhat therapeutic to post an article and see if my views are much different than my fellow Americans. Usually they’re not; what I find is that we pretty much want the same things, more money, less drama and of course to be safe. These aren’t issues drawn on political lines, so why does every politician feel the need to let us know how safe, rich and happier we’re going to be WHEN they get elected? The answer is rhetorical and doesn’t garner a response. As I’m no professional pundit, scholar or “Objective party”, I find most of my views close to the average Jane or Joe, which I find so funny. Usually they’re the same things coming out of the mouths of the former. So, just where are our dollars going, to get back on track. Let’s start with taxes, no let’s not start with taxes, because if we go there, then I’m going to get audited. The bottom line is that they’re going up, not down or away, so there. Yes we’re all afraid of the IRS, so onto my all time favorite oxy-moron which is Wal-Mart. I actually love Wal-Mart. No I don’t but they have so much stuff, I can go in there for a quart of motor oil and come out with a turkey, some new underwear, a 36 pack of paper towels, a new shotgun, and my oil is changed. The concept of a Wal-Mart is great; however, the concept of Wal-Mart haters isn’t. If I go there once a month, that’s a lot; however, whenever I do, I notice the cars in the parking lot littered with flag, union and (my favorite) Calvin peeing on an import car logo stickers. If you don’t know what that was, Calvin is a caricature. These stickers are all patriotic; most of the cars they are on are domestics. That would be great if they were all parked at the union hall or just about anywhere else except Wal-Mart. You see, my experience with (and it is a lot!) the working class is that they (We) all want jobs to be kept in this country and the working class American is affected the most by jobs going overseas; so why are they (We) shopping at Wal-Mart? It’s just a bit hypocritical, that’s all. I HAVE seen “Buy American” bumper stickers on cars parked at Wal-Mart. Now, this isn’t a bashing session directed at Wal-Mart, they do what they have to do; but if you’re against jobs going out of this country and aren’t afraid to admit it, then don’t let us catch you there. Honestly, if my business was in the manufacturing business and had to pay someone with minimal qualifications $28 to $48 an hour to produce my product(s); then I might think of closing the doors and hiring someone in China to do it for pennies on the dollar. But I’m not, and neither are most of us. So now we have a choice, do we complain or not complain? There’s only one choice if you want to stay true to yourself. You know, the bigger issue is that we are becoming a nation of end-users, not exporters. While I like my cheap $.99 crap, I’m a realist and don’t lie to myself about why it’s so cheap, and I won’t buy more than I need because it was $.99 and I love the fact that the manufacturer made it for $.06, because as Americans that’s what we do. What I won’t do is donate $1 to an anonymous charity at the cash register (No I don’t hate kids or animals) just so my local crap vendor whoever they may be, can get a nice write off and get good press for it.

Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in international and Internet merchant account solutions. Stradafee also offers check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit www.stradafee.com.

Merchant Accounts for Online Dating Services

Everyone just wants to find love right? Countless businesses have popped up around the internet with the sole purpose of enabling you to find that special someone to share your time with. Make no mistake this is a business, and the business of love is always a serious one. While there are no guarantees in life, and fewer in relationships, it seems like a decent gamble when you consider all of the factors involved. Most of the time the process begins with a questionnaire which puts you into a category; from there, personality tests riddled with control questions (that tell them if you’re being truthful with them) are administered to further break you down into segments where, hopefully your mate is or soon will be. Not too romantic sounding, huh? Well, if the end result is what you desire the most, then these minor hoops are a small price to pay for a lifetime of happiness. Ok, get up off the floor; if you get a few months or a year of happiness out of your spankin’ new relationship, then it was well worth it. Economically, a nominal membership fee is peanuts compared to what you’re going to spend on drinks in your ill-faded and probably drunken attempt attempts to bag a hottie. If you’re a female, then these sites are just as economically beneficial to you. If you play your cards right, you can eat out every night for free. Just joking guys. All the hoopla aside; online dating is a big and profitable business. When you look at profit margins and expenses, the picture begins to get clearer. Much of what you see on the site begins and ends in cyberspace; small staffs, outsourcing and limited office space can yield a wind fall within a quarter or two. Financially, it’s a win win situation as the fees are low and there’s no guarantee. Hey, even the guys that got suckered into buying swampland thirty years ago are not regretting that investment due to climbing commercial land prices and the fact that global warming is drying everything out. The point is that stranger things have happened than two people making a real connection via the internet. If you operate or manage one of these sites, then you know what I mean. An important part of the day to day operations in the online dating business is being able to collect funds for new customers as well as being able to renew existing customers. As 99.9% of these sites are totally legit; the fact that this is a fairly new industry coupled with it being entirely online put it in a high risk category with banks. It’s not anyone’s fault, that’s just how things are done. It’s safe to say that non-domestic banks to the US are much more progressive when it comes to E-commerce banking solutions. Merchant service providers and processors see this as a niche’ business with a bright future and work with many international banks that welcome the business. If you’re in the online dating business and are looking for or would like more information on how to obtain a merchant account for your business; seeking out a merchant service provider is not a bad place to start.

Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in international and Internet merchant account solutions. Stradafee also offers check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit www.stradafee.com.

Merchant Accounts for Concrete Plants

As the price of fuel continues to rise, just about everything in our lives are affected. The price of the food we eat is as high as ever, services we use every day are more expensive to the point that we find ways to do without them and eventually turn ourselves off to certain industries all together. As we all know, some industries are more of a necessity than a luxury; some of these businesses are not feeling the pinch as much, but are definitely seeing a slow go of things these days. The building trades feel the brunt of the “Big money” cut backs as regional and national economies pinch pennies I hopes that unspent development dollars will lead to surpluses, which may lead to less tax hike for the next year. While the theory seems to be sound, the long term effects will be felt by tax payers and their families for years to come. One industry that spans the construction, planning and development industries is the concrete business. Concrete is used in nearly every building project; it’s literally the foundation that all projects are built on. More than an optional building product, concrete is a staple that cannot be avoided; that is unless you want to see a sea of one story, new construction buildings for the rest of your natural lives?

The increase in fuel prices affects the pricing of concrete more than many raw products, as it’s a product in itself of many other industries whose existence supports the concrete industry. As concrete is made of stone, the production of concrete graded sand and stone that meets a particular specification relies on the fuel pricing to remain at a level low enough to let those businesses control their costs, while not passing them onto their customers as much as possible. Unfortunately for the aggregate industry, fuel pricing has forced them to either raise prices or go out of business. After the hits that the concrete business has taken and prices have been raised, the construction industry has beared just about as much as they can afford, in terms of cost increases; now the money is coming directly out of the profit that the plants take. In terms of cost saving measures, monitoring their credit card processing fees and rates has become a popular way of keeping them in the black. As a lot of concrete purchases are over the phone, many banks impose higher rates to plants because the chance of fraud and theft are higher, due to these “Card not present transactions.” Many merchant service providers specialize in obtaining merchant accounts for these types of businesses through processors and banks that offer low rates and reduced fees. Taking domestic merchants offshore is a shift in processing trust that is becoming more mainstream and acceptable by US business owners, as domestic banks regulate their accounts with outdated regulations and their own need to increase their profits. It’s not that non-US banks don’t care about profits; it’s more a case of, that’s the way they have been doing business for years. If oyu’re in the concrete or aggregate business and are looking to better your processing capabilities, contact a merchant service provider today.


Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is a leading international payments company based in New York. Stradafee is a retail and ecommerce payment processing provider specializing in international and Internet merchant account solutions. Stradafee also offers check processing, high risk merchant accounts and offshore merchant account options. Stradafee can help businesses of all industries and sizes. For more information on credit card processing and check processing please visit www.stradafee.com.