Small contractors in the United States are plentiful. Whether you’re looking for a landscaper, drywall hanger, framer, builder or general contractor, you’re covered. There’s definitely no shortage of skilled laborers and business owners that can complete the job. These types of businesses crux on the ability to get paid. Unlike other business owners, the accepted industry standard is that payment isn’t expected until the job is complete. There are exceptions like, large jobs that last over a month, where payroll needs to be met or supplies need to be purchased. Other than that, the public stigmatizes contractors to collect their money and disappear. Hence, the acceptable practice of not getting paid until the job is complete or paying only when certain portions of the job is completed.   While It’s not fair to say that these problems between contractors and their customers are unfounded, because there are and have always been a rift between expectations, implied expectations and the final product. These are things that small contractors deal with on a daily basis and it has not been getting any easier for them with the growing number of do-it-your-selfers and more importantly, the growing number of botched jobs by homeowner handymen and women.

If you’re a small contractor, it may not be a bad idea to look into getting a merchant account. Some businesses already have them, but don’t like to use them. Some have them and transfer the rate hike to their customers, because of the fact that their bank usually charges them a high rate, due to the type of business that they’re in and how the money is processed. Let’s start with how the money is processed. Typically, transactions are processed at the merchant’s home or business and over the telephone or on a jobsite. In any case, these types of transactions are classified as card not present transactions, where, the customer doesn’t swipe a merchant terminal. Due to the types of transactions being processed and the type of business that contractors engage in, banks tend to assess higher rates to them and other merchants like them. If you are a contractor and are interested in either obtaining a merchant account, or currently have a merchant account, but would like to better your rates, payment methods or processing intervals, then shopping around for a better deal may be worth your while. Merchant service providers connect processors and banks with merchants of all types every day. The phrase, “Sticking a square peg in a round hole” is very much their concern. A bad banking relationship will never benefit the bank as well as the merchant. Pairing up two parties that have the same expectations going in, is as much the same as you, the contractor explaining the scope of a job, then bringing it to life on site. Merchant service providers have relationships with many different banks; your chances of finding the right fit for you and your business are higher, dealing with a merchant service provider. If you are a small contractor and would like more information about obtaining a merchant account, contact a merchant service provider today.

For more information on credit card processing and check processing please visit http://www.stradafee.com.

Business owners have to make many decisions before they open the front door to even their first customer. The interior design of their store must be advantageous to purchasing, clutter free, well lit, and inviting. If it is a restaurant, ample comfortable seating must be provided, and the kitchen has to of course be clean as a whistle. In all the consideration of décor and hospitality, retailers must never forget they must possess the ability to accept tender from their clients, and the more forms of payment is always better, giving customers many varied options when they look in their wallets or pocketbooks. Merchants must consider a whole range of options when considering their POS (point of sale) systems, and it is a good idea to patronize their own favorite retailers and hospitality providers in order to witness POS systems in operation.

Whether you are at the grocery store, your favorite watering hole, or the movie theater, all types of businesses must have reliable POS systems in place to expedite payment from their valued customers. Everyone has experienced a long wait due to either an employee’s unfamiliarity to less than intuitive credit card machines or cash register equipment; with the right equipment and of course, training in place, customers can freely shuffle in and out, happily enjoying their experience from product or service fulfillment all the way through to their purchasing. When considering POS, every merchant must be prepared to take credit cards, ATM cards, and checks, as most purchasers, especially tourists or visitors have taken less and less to carrying cash because of its inconvenience and lack of protection if lost or stolen. Though the initial investment might seem large, an all in one system that allows for check verification, ATM card processing, cash, and credit card processing, might be the best opportunity to serve all your customers’ payment needs. Another option is starting off with a cash register for cash transactions and adding other equipment as your business and growing clientele demands change. It is necessary to find equipment that can grow with you however, so that integral parts must not be continually replaced as communication with new technology is necessary. So, that outdated cash register found at a “going out of business” sale might not prove to be an adequate option in the long run.

Many electronic providers not only allow merchants the ability to process all forms of payment, but also can supply merchants with the necessary equipment personally, or through their years of experience with retailers, are able to put merchants in touch with distributors and outfitters who provide the latest in POS technology. Providing your customers with quick and secure payment options is not only necessary for their satisfaction, but is of course essential for continued smooth operation and growth.

For more information on credit card processing and check processing please visit http://www.stradafee.com.

In California in the early 1970’s, several banks in conjunction with the regional Federal Reserve office in California began brainstorming to find a safe and secure way of transferring funds electronically between different financial institutions. Their hard work paid off with a new network labeled the Automated Clearing House coming online in 1972. Other institutions across the nation were motivated by the Californian’s success, forming their own regional Automated Clearing House networks to deal with paperless transactions in their individual states. The natural progression of these separate efforts came to its fruition in 1974, as a concerted effort of individual ACH organizations formed the National Automated Clearing House Association. The main goal of this association involving all regional ACH operations was to successfully combine them into a national network of automated clearing houses. In 1978, their goal was realized when financial institutions across the nation were securely electronically linked.

From its humble grass roots beginnings in the early 1970’s, the ACH has grown into the largest network of its kind in the world. It has truly revolutionized the way Americans and American businesses do business, providing all with the peace of mind that all transactions are made securely and safely between institutions. But what began as a way for banks to communicate with each other has bloomed into so much more. Now, practically all Americans rely upon ACH in fulfilling a financial need each and every month, if not daily. If a worker gets his or her paycheck directly deposited into a checking or savings account, this is done through an ACH transaction. April marks a time of increased ACH transactions, as it is the time of year Federal Tax Return monies are directly deposited into taxpayers’ accounts. Social Security benefits are also tendered through ACH transactions, as well as most all government benefits and payments. Many computer-savvy Americans have adopted the paperless option when paying their monthly bills, with most providers (utility, cable, mortgage providers, etc.) allowing for this time and paper saving feature. For online merchants, the ACH has proven essential in their acceptance of electronic payments and has proven a boon to online merchants in the United States. Nearly all electronic payment providers work with the ACH in order to provide protected gateways for the merchants they represent. Providers like New York’s Stradafee, effectively represent their customers by keeping up with all ACH developments, following guidelines implicitly so that their clients can keep their efforts focused on the cultivation and improvement of their individual businesses. The ACH and the network it provides has truly become an integral innovation contributing to smooth operations of commerce in America today.

Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

As an internet retailer, one of the most terribly annoying aspects you will (there is no might) have to deal with are chargebacks. A chargeback occurs in any number of situations where a customer makes a claim to their credit card company or bank in order to receive their funds back after a purchase. As a merchant, not only will you be out of the initial purchase funds and possibly the product as well, you will also be charged a percentage-based fee on top of that, according to your electronic payment company’s policy guidelines, to pay for the hassle of refunding funds. Ideally, of course, merchants want to keep these situations to a minimum and by following several guidelines, chargebacks can be of rarer occurance. This article will discuss what to do when disputes are attempted against you; a successive article will discuss how to protect yourself (and your business) initially against chargeback attempts.

Trying to get something for nothing is not a new phenomenon of course. When a patron attempts this at your brick and mortar storefront, we call it shoplifting. How is it any different when a would-be purchaser attempts this very thing in various ways through your electronic gateway? Perhaps credit card companies, with their all-inclusive fraud protection policies are actually contributing to the problem by adopting a “don’t ask, customer is always right” approach; allowing customers to feel entitled to dispute any charge, knowing that their credit card company has promised to “have their back”. How can individual, small-business merchants compete with disputes rendered through large credit card companies? Most merchants believe there is nothing they can do, and this is where they are wrong. An internet retailer owes it to him or herself to voraciously defend every purchase made, because every piece of inventory and revenue lost to fraud can add up. Merchants must immediately dispute the chargeback with the bank upon first notice. Keep track of all purchase information. Email correspondence or phone conversations should be readily available as proof that a legitimate purchase was indeed attempted and made. Shipping details should be in order including confirmation of delivery for those pesky customers that might claim to have not received the product. If this initial dispute fails, you must be prepared to seek retribution from the consumer for the initial purchase fee, as well as any added fees incurred in the process. Because your bank will require you foot the bill for illegitimate purchases, you must be willing to weigh your time and effort against the compensation you might gain in a successful dispute.

Choosing an electronic payment company that uses all available tools to protect you and other clientele from internet fraud is extremely important.

Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

When it comes to sporting goods, we are all convinced that cutting edge gear will increase performance. Whether it’s true or not, that’s what we all believe but are not so willing to admit. We like others to think that it’s “All us” out there. The United States is the hub for the sporting goods industry; we manufacture more specialty products, create the hype through marketing them, are the testing grounds for them, we sell more within our market and export more abroad than we take in. I guess you can say that if the GDP was determined by athletic equipment then we’d be the US. Hmmm, ok… how about, the US a few years ago.

While local sporting goods stores, outlets and specialized boutique shops that cater to one or two sports can meet most everyday needs of today’s athlete; when it comes to big ticket purchases, everyone has to shop, and the easiest way to do all your pricing and product review research is on the internet. Walk-in stores will neverdie, some may go out of business, but there necessary. Personally, I like them for my peripheral purchases, footwear, workout clothing, bats and balls and small stuff. What’s happening today is that there are so many products coming out that stores cannot stock all of them. To add to the excitement, product designers and manufacturers are their own retailers, and they’re the only place you can buy that item.
More and more people are looking to the internet to buy these higher priced and hard to find items. While they’re paying for shipping, they also are buying all of those peripheral items which pulls dollars away from the local retailers. If you’re an online sporting goods retailer or even wholesaler, you know what I’m talking about.

The Good, The Bad and The Ugly
Well, the good thing is that these E-commerce sites are killing it right now. They’re exporting to other countries, vendor distribution centers are accommodating to this industry and the profit margins can be good due to no floor planning and low overhead costs.
The downside of this is that there’s a lot of competition and pricing is slowly going down. While international exporting and high volume is good, profit margins have to be watched more closely and online vendors have to be ahead of their competition by optimizing websites, negotiating better deals with vendors and actually advertising.
Now the ugly; increasing cost of these businesses are their merchant account fees. It wasn’t so much of an issue when volume was lower and profit was high, but when you need to watch every penny, every one really counts, and you know it!

Due to these high volumes and increasing sales outside their domestic areas, banks are hiking up rates, adding to the woes of the merchant. This is just a product of getting big, fast. Merchant accounts come with rules and applications require business plans, and you all know that. Unfortunately, we had to leave out our real goal which was to make a lot of money in the shortest time possible. Your bank and/or processor may be charging you a higher discount rate and associating other fees to your account because you may be in a high risk category now. So many other merchants are in the same category and it’s not even similar to having a bad credit rating or being involved with gray market products or services, but banks assess risk and “Too big too fast” and doing volume sales outside your domestic area is high risk.

The solution may be to shop around for a new processor or bank. Give your current bank a shot, but if they’re not playing ball, don’t be afraid to stop processing through them. Personally, I wouldn’t close that merchant account, but just stop processing and leave it dormant once I got a new one. This whole process doesn’t take too long; search the internet for merchant service providers and find one that meets your needs. they’re not all the same. Some offer different services and some even specialize in specific types of industries. Ask about their portfolio and if they have experience in your type of business or industry; this means that they’ll be more in tune with your sales cycles and peak processing times. They’ll also be able to deal more effectively with your chargebacks. This can be worth its weight in gold down the line. What a lot of online merchants don’t know is that merchant service providers can provide services that you didn’t think you could get, at least without paying a lot for them; services like third-party fraud scrubbing, virtual terminals, 3 D secure processing and fraud protection. Just like your customers found value in a commitment to you, if you’re not totally satisfied with your current credit card processing solution, find value in your business and shop on the internet.

Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

Online sales are becoming a greater part of retail business in the United States and abroad. For merchants to continue to be competitive in the local and global marketplace, a new focus is being taken on websites and online retail sales applications. In order for businesses to protect themselves against fraud by unseen purchasers, they must take advantage of AVS, the Address Verification System.

AVS helps merchants protect themselves against becoming prey to credit card and identity thieves by helping to ensure secure, valid payments through a rigorous verification process. AVS cross-references all the information given the merchant by the purchaser, making sure that billing and postal addresses match. This protects against millions of attempted fraudulent purchases levied against online and phone retailers every minute of every day. If information given does not match the information on file for a given credit card, the purchase is not validated or declined and AVS has successfully thwarted criminal efforts. Unfortunately, AVS is not a see all, and any hacker worth his or her salt will most likely have appropriated all necessary information belonging to their victim (i.e. credit card billing address, postal address, social security number, etc.). Merchants must be diligent and especially wary of foreign orders. There are other safeguards to consider that deal with the threat posed by illegitimate, out-of-country orders. Many merchants have elected to only honor foreign purchases made from more established email providers, refusing those made from free accounts such as yahoo. Many merchants require foreign purchasers provide a legitimate phone number, allowing a purchase only after a voice-authorized, often recorded conversation is complete. Multiple orders from the same foreign account can be a red flag indicating improper activity and should be carefully observed and noted; voice confirmation is a must in this event for merchant self-protection. Most credit card companies in today’s market place their own Card Verification Value Code, or CVV, on consumer credit cards. This three or four digit code helps provide an opportunity for a cryptographic check to be run against the information embossed on the card’s front, allowing for yet another step towards ensuring that all purchases are legitimate.

As a new web-based merchant entering the global marketplace, it is part of your due diligence in self-protection to associate yourself with a firm which protects your financial interests, allowing you to focus on making the best product and fulfilling your potential (legitimate) customers’ needs without having to worry about fraud. Electronic payment processing companies like Stradafee offer many options to choose from that are extremely beneficial and necessary to all online businesses. Merchants owe it to themselves to be successfully monitored in order to continue in financial success.

Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

Are you a start-up business owner looking for a way to save money? Are your funds limited to where you can only buy so much right now? If you are an online business owner selling products and/or services it is imperative that you have some type of merchant account. Since you’re just starting out, you may want to go with a free merchant account. There are some advantages to having one.

First, you don’t have monthly or hidden fees. The free merchant account comes with software that you don’t have to pay extra for. Merchant accounts need software in order to function properly.

With a free merchant account, you are not required to submit to a credit check. You can just fill out the information online and in a matter of minutes; you’ll have your free merchant account up and running. With a free merchant account, there is a catch. Even though setting it up does not cost you initially, the merchant provider company will deduct fees from each transaction. They may be more or less than a paid merchant account. A free merchant account can’t be totally free because then the merchant provider company won’t make a profit. There is another catch to having a free merchant account. If the merchant provider feels like you’re generating too much money at one time, your merchant account can be temporarily disabled. They say this is for your benefit as well as theirs. It supposed to be a way to detect fraud. However, when people start making more money, the account will receive more funds. Speaking of funds, with a free merchant account, you have to wait at least three to four business days before the funds are deposited into your account. Unfortunately, if you’re just starting out and don’t have a record, you’ll have to be patient with a free merchant account.

On the other side is the paid merchant account. This type of account is for those who are making a lot of money and can afford having different fees taken out. Paid merchant accounts differ as far as what fees are taken out. The main thing is you will incur fees from a paid merchant accounts.

Here are some of the basic fees incurred with a paid merchant account: There is usually an application fee involved. The fee varies for each paid merchant account provider. There are some who may not charge a fee at all. The application fee is usually paid one time when you open the account. Like the application fee, the setup fee varies for each paid merchant account provider. The setup fee is for setting up your account and bank related issues. The setup fee is also incurred only once when you create your account. You may incur a monthly account fee. This fee is used for maintenance on your account. This fee can vary with each merchant account provider. Of course, this one is self explanatory being that the account fee is monthly. Every merchant account, whether free or paid, incurs transaction fees. Every time someone purchases something from your online business, you will incur a charge for each transaction. These fees are incurred for the actual processing of the transaction. If you get a paid merchant account, you generally come out better because the transaction fees are usually lower than free merchant accounts.

With paid merchant accounts, you can get your money quicker than you would with a free merchant account. Limiting of transactions is also rare. The companies want to make money, not restrict you from making money. If they did that, they may not have many customers. The old saying, “You pay for convenience” is true. So in essence, you have to outweigh the costs. Is it worth it to keep a free merchant account, knowing that there are limitations or eventually get a paid merchant account, where you can afford the fees and get your money quickly? If you want to have a profitable online business, you’ll have to make that choice.

Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

Do you really think that you can get things for free? Did you know that when you get free things, they come with a price or a catch attached to them?

Take for instance, the free merchant account. It’s been advertised as free, but believe it or not, there are a few costs associated with it:

* You will incur a fee for each transaction that is processed to your account. The transaction fee is for the processing of the transaction.
* If your business gets hundreds or even thousands of sales for your online business at one setting, your free merchant service provider may want to put up a red flag and set up temporary hol of funds. They say it’s to protect you as well as themselves.
* You’ll have to wait at least three to four business days after the transactions before you can access your funds.
* You may not be able to accept currency from several countries due to restrictions placed on them by governmental entities.

The good thing about a free merchant account is that if the brand is well known, it can be used anywhere at any time.

If your merchant account was totally free, you would:

* Not be incurring transaction fees for every transaction that comes in.
* Not having to be concerned about limitations put on your merchant account due to high profit volumes within a matter of a day or two.
* Have access to your funds sooner than three to four business days.
* Be able to accept more currency from other countries to purchase from you.

Free merchant account providers have customer service facilities. However, it seems like you have to wait a long time to speak with a representative. Then they’ll tell you what you think you want to hear. When they give you information about a problem, you expect the problem to be solved. However, that’s not the case and you end up calling them back again. Everytime you get some information from them for your problem, it’s not the right remedy to your issue. Going back and forth with them can be a nightmare, especially if they don’t know what they’re talking about.

There are a few things that are free when you set up your merchant account. One of them is you don’t have to get your credit checked for a free merchant account. You can sign up for one at anytime.

Sometimes, having a free merchant account may be the best thing for you at the time. This is especially true if you’re just starting out with an online business. You will at least be able to learn the basics of having a merchant account, whether it’s paid or not.

It’s important that you keep abreast of the fees that the free merchant account provider takes deducts from your transactions. So the question is asked again, “Is There Such a Thing as a Free Merchant Account”? After reading this article people may beg to differ.

For more information on echeck processing, high risk merchant accounts and online credit card processing. please visit www.stradafee.com!

As we come into the spring season, thoughts of warm weather, yard work and spring cleaning tend to overpower our instincts to tackle indoor projects, interior and desk house cleaning.  Check your processing statements from the past four to six months. This is sometimes the most overlooked part of your business and one that if not analyzed, can cost you money and aggravation down the road. With the holidays far behind us, and your Christmas statements probably stuffed in a drawer we’d like to remind you to dig them out and look at them, it will only take a minute. Depending on where you are in the country, your lives are getting busy right now and chances are you won’t get a chance to breathe for about the next eight months or so, so get it out of the way. Your bank doesn’t count on the fact that merchants will scrutinize charges and fees associated with their credit card processing during this time of year, so it is a good time to get your statements in order. Nothing can make a busy sales season more stressful and costly than dealing with housekeeping issues that you could have taken care of in the months prior. As you’re looking through your statements, pay special attention to chargebacks, a high amount of non-qualifying rates and annual fees. If everything is in order, good for you, if not and you would like to talk to someone about alternative processing solutions, call Stradafee or visit our website at Stradafee.com

For more information on echeck processing, high risk merchant accounts and online credit card processing. please visit www.stradafee.com!

Typically, businesses that have a need for a merchant account are large, utilize multiple processing venues and/or need high volume credit card processing capabilities continuously. Today, medium and small businesses commonly get merchant accounts as a staple of their business. Many people seem to think that a merchant account is necessary if you’re small, but nothing can be farther from the truth. Today, a lot of merchants are relying on free and third party merchant accounts for various reasons and as every business has different needs, a cookie cutter credit card solution may not be the answer.

What is a free merchant account? Basically, it’s a merchant account owned by a third party merchant provider or processor to process credit cards and route the money to your bank account. With E-commerce so prevalent today, this type of transaction is easy for merchants and not difficult to establish. A lot of small vendors, like Ebay merchants use these types of merchant services due to ease. Some of the nice features of these types of accounts are that there is little background investigation, little paperwork and almost no real application process. Really, you can accept credit cards within a couple hours of applying. There really is no application fees, no virtual terminals and related programs and software, so the ease of set up, monitoring and maintenance is minimal. If you operate a brick and mortar business, there is really no reason to have one of these types of account services, and if you process credit cards more than once a day, then this really is not for you. The down side to free merchant accounts is that even though the upfront costs are low or nil, and the ease of operation is simple; they offer limiting services and become increasingly expensive to use, the more you use them. The way they make their money is by charging a portion of each transaction, often times up to 10%, which is a lot more than 2.5-4% that you would pay for a typical E-commerce merchant account. As well, it is not uncommon for them to hold funds for security against chargebacks and processing errors. This isn’t untypical with regular merchant accounts, but isn’t as common. For example, if you’re volume spikes legitimately, due to an increase in your business, this may throw up a red flag for a processing agency to hold your funds until your volume goes back down. This is looked upon by banks as a higher risk of chargebacks.

Third party merchant accounts are similar, in that your business will be processed under someone else’s merchant account. Often times, established businesses with high volume capable merchant accounts will offer processing to like merchants within their industry or a similar industry with similar types of transaction volume and consistency. This can help a merchant who is temporarily experiencing low volume in their business to keep their rates low, as well they may offer lower rates to you than a merchant processor offering a free merchant account. Like free merchant accounts, there is no payment infrastructure, maintenance, minimal background checking and set up fees. However, you will have high rates, longer processing times and possibly security fees for impending chargebacks.

With both free merchant account services and third party merchant accounts you will run the risk of not getting paid at all, as they may be processing multiple businesses under one account and may get shut off by a bank, leaving you and everyone else unpaid indefinitely or until they get it straightened out. In today’s economy, and with international banks looking to gain US and Western European market share, small and medium size merchants are not only obtaining merchant accounts for themselves, but they’re getting great rates, specialized services like multi-currency processing, their own virtual terminals and third-party fraud scrubbing. Today’s merchant service provider is armed with a lot of ammo with banks around the world; a lot of these banks specialize in E-commerce and high volume merchant accounts. Many banks also offer great rates for high risk customers. With a little homework, merchants are going to find that start up and maintenance fees are lower than they think, operating and tracking their credit card business is not only fairly simple but they sleep better at night and ultimately they’re profit margins are larger.

For more information on echeck processing, high risk merchant accounts and online credit card processing. please visit www.stradafee.com!