Layout of Credit Reports

Credit Cardsadmin03 July 2009

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Basics of SSL Technology & Credit Card Processing

Credit Card Processingadmin02 July 2009

Secure Socket Layer (SSL) technology is must for any online business or website that accept credit card orders. It plays a pivotal role in encrypting and authenticating sensitive data. It also enhances your customers’ confidence and trust.

As cases of identity theft and fraudulent credit card activity has mounted thoer head online, consumers are more cautious against unsecure processes and are apprehensive when it comes to their personal information. As a result, more merchants than ever are exploring the advantages for themselves and their customers - of using a Secure Sockets Layer Certificate.

Here is a list of merchants who can avail maximum benefits out of SSL technology. In addition you will get to know about the basics regarding how it works, including how sensitive data - including credit card information - is encrypted and authenticated.

Who Needs SSL?
You are not sure about the authenticity of the website, from where you intends to buy. And most of the time you are required to enter your credit card and other personal information to submit an order. Any retailer who accepts customers’ personal information on their website needs an SSL Certificate. Not only does that include credit card numbers, but also passwords, birth dates, social security numbers, and any other data that requires privacy. Secure Sockets Layer ensures the entire process is private and contained.

Basics Of How The Technology Works
Assuming a SSL Certificate has been installed on your website, the process begins with your customer accessesing a secure page (the URL will start with https). Your site delivers a public key which validates your company’s identity. In response, your customer’s browser produces a session key. It encrypts all data that is exchanged between your website and the customer’s browser during that particular session. This process happens without requiring any action from your customer.

Data Encryption And Authentication
The information shared between your customer’s browser and your website is encrypted by the SSL Certificate. The Certificate is comprised of two separate keys that work together: a public and a private key. The public key handles the encryption of the data while the private key decodes it.

When a SSL - Digital Certificate is installed on a web site, a padlock icon can be seen at the bottom area of the navigator and also the address in the address bar will begin with “https” instead of http during a secure E-commerce transaction, which means that the data is encrypted.

The SSL Certificate also handles the task of authenticating your website. When your customer points the browser at a secured page, the browser automatically takes note of the Certificate’s presence and identifies its source (in this case, your company). This authentication process is critical. It establishes trust in the same manner that a passport validates your personal identity. And lends credibility to your website and strengthens your position in the market.

SSL And Processing Credit Cards
it is not mandatory that having a Certificate installed on your website gives you the ability to process credit card transactions. But, on other notes, it signifies a higher level of trust that your customers can have in your company’s identity. As a result, customers visiting your website will be more likely to submit their personal information without any worry. But, processing their credit card transactions still requires having access to a merchant account or an alternative payment processing solution.

Browse through http://www.paynetsystems.com to get more information about how to apply online through Credit Card Merchant Account Application

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Shopping Online : Knowledge is the Key

Merchant Account Services, Credit Card Processingadmin01 July 2009

Internet shopping offers a lot of convenience along with the huge selection and great savings. It saves a lot of time and you can have all your shopping needs fulfilled. You can buy all sorts of goods from any part of the world, and that too Without moving to different superstores or markets. Many shoppers worry about shopping safely online because of it carry certain disadvantages with it.

However, you can shop online freely and easily, if you are careful. Otherwise, you become a victim of the many online scams prevalent nowadays. You must have knowledge of what safety features to look for and what types of things to avoid while purchasing online.

Reputable online retailers use many tools and types of technology to keep their shoppers safe. Every reputable online retailer will prominently display the safety features they use to protect their customers information, and you should make sure that the website you purchase from has this information available. Such retailers use various preventive measures to protect shopper’s personal information such as credit card numbers, bank account details, and other sensitive information. Shopper’s information is transmitted via secure servers and encoded or scrambled so that identity thieves cannot access the information.

Safe online shopping begins with searching for online retailers’ common safety measures. Many people are attached by identity theft through spam or “phishing” emails. Often times, these emails come from people posing as legitimate companies. When you click on a link they’ve provided in an email, they will take you to a duplicate site that will ask for your personal credit card information, or even social security number. Before you know it, your identity is stolen, and that is the last thing you need to deal with during the holiday season in general.

Always look for a browser having a security icon displayed in the address bar of the browser window. Secure pages always displays a closed lock icon in the address bar in Internet explorer. You should always look for this icon before making a purchases. You should also be sure that the web address of the page you are viewing starts with “https” instead of “http” before you submit any personal information.

You should also keep in mind factors like the goodwill of the online retailer. Credibility of the brand or website that you are purchasing from as it will help you to be more confident in your purchases and access the safety of the website. Less authentic and lesser known websites may raise concern, especially if you have never purchased form them before. Always make sure the website posses a valid and current SSL certificate which will be posted on the site. Also check with the Better Business Bureau for any complaints or shady business practices on the company.

Make sure that the company you are purchasing from has clearly stated contact numbers, shipping information, and fully discloses all sales taxes and shipping costs before you enter any credit card information. It is also a good idea to shop with companies that offer order tracking and conformation to be sure that your items have shipped.

Don’t forget to check the company’s refund policy and their policy about undelivered goods in case you do not receive your purchase. With these things in mind, it is possible to shop safely online while enjoying the great selection savings, and convenience that the internet offers.

Paynet Systems is a leader in credit card processing machines and merchant account services; providing security, experience, convenience, knowledgeable service and quality support for more than 30,000 businesses. For more information visit the website http://www.paynetsystems.com

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Ensuring the Safety of Your Card

Credit Cardsadmin30 June 2009

Keeping your credit card safe is you responsibility. Moreover, these days credit cards misuse is not limited to its loss or theft. If you are negligent in keeping your credit card safe, you may find yourself liable for the cost of all the fraud transactions made on your account. A person just needs to know your credit card number to fraudulently make numerous charges, including cash withdrawals, against your account. To help you avoid such situations, here are 5 basic tips to ensure the safety of your credit card :

Always go for one card : because it becomes harder to keep a track of which cards you have and where you have kept them.

Always keep a photocopy of your cards : Always keep a Photocopy of both the front and back of all your credit cards and keep the copies in a safe and secure location. This will enable you to cancel your credit card as soon as possible if is lost or stolen..

Always keep your receipts separate : Always keep your card in a safe and secure place. Never keep your credit cards and credit card purchase receipts in the same place – because in case, if you have lost your card, or if it is stolen, in that case you will lose the receipts as well. In such cases you would be unable to vouch for your transactions. In addition, there is no way to tell which was the last genuine transaction you made.

Moreover, If you have a Personal Identification Number (PIN), store it separately from your card. Keeping the record of your PIN with your card is only asking for trouble!

Never give your account number to unknown people : Don’t give your credit card number to anyone, except when ordering by phone or through the Internet — and that too from reputable companies.
Never leave your account details open for public viewing :

It may sound rather basic to say you should never let ‘Joe public’ see your credit card account details, but ask yourself this question: “How often have you received a publication subscription form in postcard format?” Now, suppose you complete this with your credit card details filled in. Suddenly half the world has access your credit card number, expiry date and signature!

Although the above may sound like 5 basic credit card safety tips you already know, you would be surprised to see how many people fail to follow one or all of them!

Get Complete and extensive information about Credit card processing machines and Merchant Account Services by visiting http://www.paynetsystems.com

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Avoiding Merchant Account Hidden Fees

Merchant Account Servicesadmin29 June 2009

Merchant accounts are an integral part of accepting and processing credit card payments through your web site, but failing to properly research your chosen merchant account provider can cost you - in a big way. By knowing how to spot merchant account problems before they happen, you can save yourself significant frustration as well as money.

Many payment processing companies make themselves look extremely large on the Internet, yet are really just big advertisers and high pressure sales people who are not really a payment processing company at all. They sell processing for whoever pays them the most commission. It is always the merchant who ends up paying for it, usually in the first few months and in start up costs.

Since most sales people in the merchant account business are never going to tell you that there are better deals for you out there, we have compiled a list of things to watch out for.

Merchant Account Hidden Fees
Chargeback fees
Retrieval fees
Gateway fee
Termination fee
Hidden setup charges
Non-refundable setup charges
Cancellation fee
Minimum fees
Annual fee
AMEX or Discover setup fees
Statement fees (more for more services)

To get detailed information about Credit Card Processing Equipments and credit card processing machines please visit http://www.paynetsystems.com

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Benefits of Prepaid Credit Cards

Merchant Account Services, Credit Card Processingadmin26 June 2009

Credit cards are a necessity these days. We’re all used to prepaid phone cards, prepaid gift tokens and prepaid gas and electricity meters. The prepaid credit card simply takes the same logic a step furhter, with the added novelty of it being a "credit card without debt"!these are also known “pay as you go” cards.

You load money onto the card in much the same way as any other prepaid facility - namely, by cash, by bank transfer or by using another credit card. Since your prepaid credit card is also a MasterCard or Visa, you can use it anywhere that MasterCard or Visa is accepted, at home or abroad.

A prepaid credit card helps in building credit without the risk of falling into debt and hurting credit even further. It is basically like any other credit card and is backed by one of the major credit card companies. Prepaid credit cards, though, are completely controlled by the user.

The account for the card is opened with a deposit that is then the credit limit. Whenever the user desires more money can be added. Only the amount of money that is in the account can be spent. If the user tries to spend more than their limit the card will be denied. This way you’ll only be spending money that you’ve already loaded onto your prepaid card. So, there’s never any danger of getting into any debt on a prepaid card.

A prepaid credit card offers more advantages and are different from that of any traditional card. As mentioned, there is no way that a user can go into debt using a prepaid credit card because the balance is limited by how much is deposited into the credit account.

The card also carries no interest charges. They can be used wherever a traditional card is used. Some companies report the payments made to the credit bureaus, thus it helps you in building your credit.

There are few things you must consider before opting for a prepaid credit card. There can be fees for loading or nor not loading a prepaid card. There may be limits for how much money you can put on the card, as well as limits on how much needs to stay on the card.

Getting a prepaid credit card is not difficult. There are many online sources for finding these cards or the major credit card companies all offer their own prepaid card. The application is simple with no credit or employment check. There is usually a small set up fee and then the deposit. Once you receive your card you can then begin using it.

Prepaid cards vary in the fees charged and other features. Shopping around and comparing different cards will help you find the best card deal. Also some cards do not get reported to the credit bureau, so if your goal is to build your credit than it is important to look for a card that reports to the credit bureaus.

Browse through http://www.paynetsystems.com to get more information about how to apply online through Credit Card Processing and Credit Card Merchant Account Application

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Word of Caution Before Opening a Merchant Account

Merchant Accountsadmin25 June 2009

Mode of accepting online payments determines the scale of your online profits. So while selecting a merchant account provider, you need to do a thorough research. Hasty and negligent business decisions can lead to a road less travel led and can paralyzed its potential for growth and profit. Thus, it is really important for any online trader to gather the right information.

Selecting the wrong merchant account provider is surely one of the quickest ways to derail your online business. The selection process should take into account the volume and value of proposed transactions, nature of business, history and track record and identification of specific needs, if any apply, of the retailer. The volume of transactions and nature of business proposed to be conducted via the merchant account will have a significant bearing on the available options to choose from.

In a nutshell, a merchant account enables you to begin accepting credit card payments over the Internet. It’s a ‘liaison’ account linking your customer’s credit card account with your own business account. Its not that easy as it sounds simple. Because the first critical error many online business people make is, they assume that all merchant accounts are alike. Such assumptions leads to much e-commerce frustration and also push you towards e-business crisis.

In addition to choosing between an offshore or onshore provider (which in some cases may not present a choice), an e-tailor will be well advised to do some extensive number crunching when choosing a merchant account provider. These days an extensive list of provider is available to choose from, with varying fees, minimum requirements and transaction fees. While intense competition has caused many providers to lower their fee structures, a merchant must beware of hidden fees and charges that may not be presented initially by providers offering ‘ZERO SETUP FEE!’ and similar catch phrases to capture attention.

Here, building a sound business foundation means finding the best merchant account for your business model, and for the types of products and services you offer. Though the rates of some merchant account providers can give you vertigo, many of the cheaper solutions will end up costing you more in terms of poor service, inflexible limits, technical difficulties, or inept customer care. The key is finding the right balance.

Paynet Systems is a leader in credit card processing machines and merchant account services; providing security, experience, convenience, knowledgeable service and quality support for more than 30,000 businesses. For more information visit the website http://www.paynetsystems.com

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Avoiding a Bad Merchant Service Provider

Credit Card Processing, Credit Cardsadmin24 June 2009

There are thousands of organizations that can set you up with credit card processing. Merchant accounts are an integral part of accepting and processing credit card payments through your web site, but failing to properly research your chosen merchant account provider can cost you - in a big way. Finding a good merchant service provider is nearly as important as accepting credit cards itself. By knowing how to spot merchant account problems before they happen, you can save yourself from frustration as well as money.
Start searching for a merchant account several months before you actually need it. Trying to desperately get setup in a hurry is the most common mistake businesses get locked into expensive contracts with poor providers.

Knowing the bad providers is very important. A poor merchant service provider will get your businesses setup to accept credit cards, but with poor service and at a more expensive price. Poor providers often only focus on how cheap they are. Cheap prices are often synonymous with cheap quality services.

Here are some tips for finding a good merchant services provider.

1: Know the kinds of fees you will be expected to pay
Merchant account fees varies widely. Few providers would encourage you to use their services with low upfront cost. Little do you know until you read the fine print that you are going to be charged a hefty percentage for each payment that is processed. When selling expensive products, they could be tapping into twenty or thirty dollars of your profits. Try to find one that has lower fees and not too expensive on their setup costs.

2: Check out the Customer Service
Before signing anything or before they ever have the opportunity to charge you a dime, check out their customer service. You can simply do this by asking them a couple of questions about their services. Keep in mind that quickest is not always the best. A lot of companies online will now have automated systems setup to answer questions.

You know that if it takes several days for them to get back to you that they will likely be the same way when you decide to use their service. People buying from a company they have never dealt with before are already going to be somewhat skeptical. If it takes a few days for you to get a response back from your merchant, and then another day or two to get back to your potential customers about something, this is detrimental to your business. You need them to be prompt and handle the questions professionally.

3: Price is not always the single most important aspect
There are many other factors than price to take into account, while looking for a merchant account service provider. You may be shopping around for a website and it is important that it will be easy for you to setup their credit card processing system with your shopping cart. Some merchant accounts may require that you manually run the credit card as if you were an actual retail store and this is not what you want either. Instead, you want someone who has plenty of features and will make it easy on both you and your customers to go through the ordering process.

4: Look for one that suits your requirements
Not all merchant accounts offer the exact same features. Some work well and have modules setup for specific shopping carts. You want to be thorough and find one that will actually work with you to get everything setup properly. They want your business, but you want them to be familiar with the types of things you need. Whether it is their ability to work with a certain shopping cart or some other specific situation, it may be best to go with merchant accounts that directly advertise that they allow for the features and capabilities that you need.

5: Don’t forget to read others reviews
When in doubt and trying to narrow down your decision, read what others have had to say. A lot of times, a bad reputation is a good sign that you want to steer clear of that company. Unfortunately, many people get sucked into the “too good to be true” situations. They see extra low fees and jump at it. You may be contemplating falling into the same trap. Always read reviews and if you see more negative ones than positive ones, then I would recommend looking elsewhere.

Paynet Systems’, besides offering Credit Card Processing Service also offers Credit Card Processing Equipments. For selecting the best equipment and to know more about the services and products visit http://www.paynetsystems.com.

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iPhone : New Credit Card Processing Device

Credit Card Processingadmin23 June 2009

iPhone has found yet another new use: now it has been turned into a mobile credit card processing device, thanks to a new application. With the introduction of iPhone, apple has released a new credit card terminal. The sleek phone has been turned into a mobile credit card processing device. Credit card terminals enable you to take credit card payments no matter where you are.

With this new credit card terminal you can take your business with you wherever you go. Every business accepts credit cards. If they don’t, they aren’t really a business. It save s you from dragging a lot of quipment around with you which makes it attractive for off-site use.

Using Credit Card Terminal takes a lot of planning before you can go out and get started. You’ll first need to set up an account with a firm that handles the actual credit card processing. iPhone users need to establish two accounts: a gateway account and a merchant account. The gateway account is responsible for authorizing cards in order to permit the transaction to go through. The merchant account allows funds to be deposited to a bank, providing the actual payments. You have to set these up before you can go forward.

iphone, acting as a Credit Card Terminal gives you an opportunity to expand your business. Going high-tech sales with your iPhone isn’t for the casual user; don’t expect the guy sitting on the corner selling roses to whip out an iPhone to accept credit card purchases.

To get complete information about iPhone Credit Card Processing visit http://www.paynetsystems.com

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High Risk Merchant Account - Lowering Your Risks for a Declined Application

Credit Card Processing, Merchant Accountsadmin22 June 2009

High-risk merchant accounts are designed for people engaged in high risk businesses, these include internet/e-commerce businesses, merchants in the travel and cruise industries,internet merchant accounts and telemarketing etc. There could be many reasons for considering a business at a higher risk such as conducting credit card transactions “offshore”, potential for excessive charge backs, possible legal violations, returns, or simply bad publicity for accepting those sorts of businesses. Such type of accounts are usually essential for dealers who can’t get a standard merchant account because of their monthly volume, target markets and the kind of business they run.

Unfortunately, applying for such an account is no easy task. Banks and other processors have stringent laws for high-risk merchant accounts. Your application will need to undergo a very complex process before it gets approved by these providers. When you choose a merchant account provider, it is important that you choose one that you can work with for the long haul. Majority of these providers whether it is merchant account companies or banks, will look at your business carefully before finalizing a deal and weigh you on various criteria such as: previous merchant accounts and your credit history etc. Apart from that lots of other things may be required by them like your bank statements, current processing statements, current profit-loss statements and business license.

Also the time period the merchant’s business has been operating contributes a major factor in this. The longer the time you’ve been in business, the better is it as it acts as an assurance to the merchant account provider. This means you can manage credit card transactions with an ease and are able to find a solution to the possible risks such as fraud. A credit report acts as a mirror to the account providers that gives him information on various things first being if you pay your bills or not and if they are paid on time. It will also show whether there have been any judgements, liens, or bankruptcies filed against you.

Another factor that is worth considering is to make sure you have a good credit rating. Make sure to check your report before applying and if possible try to remove any information on bad credits such as bankruptcies, late payments, or liens. A good credit rating could go a long way when trying to secure a merchant account. Also, if your credit report is not that good but manage to find a provider, you may also have to set up a reserve account to protect them from possible losses.

However high risk merchant account is very expensive. You will need to pay higher monthly fees compared to regular merchant accounts. Though there may be a big difference between the rates of high risk merchant accounts and the regular ones, but finding providers offering some reasonable and affordable rates is not impossible. Leaving behind all this a high risk merchant accounts provides a lot of benefits which are worth considering.

So if you’re running a high risk business then high risk merchant accounts have a lot of advantages added to it, such as high charge back threshold, online reporting of transactions, multi-currency credit card processing, real-time capabilities, 24 hr customer support, and acceptance of all major credit cards and many more. Therefore, running high risk business is not an easy task but with the proper precautions, it can still be a profitable venture.

To get detailed information about Credit Card Processing Equipments and credit card processing machines please visit http://www.paynetsystems.com

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Layout of Credit Reports

Basics of SSL Technology & Credit Card Processing

Shopping Online : Knowledge is the Key

Ensuring the Safety of Your Card

Avoiding Merchant Account Hidden Fees

Benefits of Prepaid Credit Cards

Word of Caution Before Opening a Merchant Account

Avoiding a Bad Merchant Service Provider

iPhone : New Credit Card Processing Device

High Risk Merchant Account - Lowering Your Risks for a Declined Application

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