Merchant Account Rates

These are the typical fees you will see associated with a merchant account. Rates will vary from one provider to the other. We showcase a wide array of merchant account providers included in the following links.
Finding a low cost merchant account is easier today, then it was 5 years ago. While processing rates and fees remain the same, setup and solution purchase costs for Internet businesses has gone down considerably. Where it used to cost $600 to setup, many now only charge $0 to $150 to setup your business with a low cost merchant account. Non-High Risk Internet businesses should never pay anymore than that for a merchant account. Retail businesses can expect to pay anywhere from $75 and up for a retail swipe terminal solution. You can review the other rates and fees associated with a low cost merchant account below.

Application/Setup: $0 – $100+ (one time fee)
Most providers have an application fee. Some charge it right out at the beginning, while others add it into the solution purchase/lease costs. Some providers do not have an application fee at all.
Hardware/Software: $99 and up or Lease: $20/month and up.
One important note worth mentioning here, though leases are sometimes beneficial to you because they keep you from paying up front for a terminal, it’s usually much better to purchase from the beginning than pay a lease for the next 12, 24, 36 or 48 months. Why? With a lease you’ll end up paying sometimes 3 times or more then if you would of just purchased the solution outright from the beginning. While a $29.95 monthly lease for 48 months sounds good in reality it isn’t. Leases are very hard to get out of once started. If your business goes under before the 48 months are up, you still have to pay on the hardware/software costs until the last penny has been received by the leasing company. Also, the lease fee you see does not include your state sales tax or the amount charged for the damage/loss waiver. If you do go for the lease, always determine the lease’s buyout clause, end of lease terms, and especially beware of clauses that allow the lease company to continue charging you even after the 48 months have passed (they say that you should contact them in writing one month prior to the end of the lease, or you can just let them keep charging you).
Programming: $0 – $100+ (one time fee)

This usually only applies to retail merchants who have changed from one provider to another. The programming process isn’t difficult but watch out for the cost, some providers may nickel and dime you on programming fees. Why do they charge this fee if you use your own equipment? It’s used to somewhat make up for the loss of not selling or leasing you their equipment.
Discount Rate: Standard is 1.49% – 4% per transaction or learn about “Interchange Plus Pricing”
This is the fixed percentage amount that is deducted from the purchase cost. The lower discount rates are for retail establishments while the higher are for Mail Order/Telephone Order (MOTO) and Internet-based businesses. Why the lower cost for retail? The instances of credit card fraud are much lower so banks are able to charge lesser percentages for these types of businesses. A typical discount rate for US business is right around 2.30% for online and 1.79% for retail, perhaps a little higher or a little lower. Non-US businesses will pay a higher discount rates closer to the 3% to 4% range. Depending on your provider and current qualification levels you may want to check into Interchange Plus Pricing.
Don’t let a few tenths of a percentage point be the deciding factor between two providers. For example, if Provider “A” charges 2.29% and Provider “B” charges 2.49% you’ll only save $0.20 for every $100 processed through your merchant
account.
Transaction: $0.20 – $0.50 per transaction

In addition to the discount rate a transaction fee is also deducted from the purchase cost. Also, just as with discount rates, transaction fees are lower for retail businesses while slightly higher amounts are charged for MOTO and Internet
establishments. Address Verification (AVS) may either cost an additional fee, or may be included in the base transaction fee. The typical transaction fee for US businesses is right around $0.30 while the higher end of this fee is sometimes the case for Non-US businesses.
Monthly Minimum: $0 – $25 per month
The fee is based on your transaction and discount rate fees from your credit card sales each month. For instance, say your bank charged $25 as a monthly minimum, the transaction and discount rate fees collected by the bank must equal or go over $25 each month. If this is the case no monthly minimum will be charged. However, if the fees collected for that month do not meet the $25 minimum, you will then be charged the difference. Not all processors have a monthly minimum fee, however most do.
Gateway Access: $0 – $25+ per month
Since in most cases, the Secure Payment Gateway provider (e.g. Authorize.Net, VeriSign, etc.) is a separate company from the Merchant Processor, they charge extra fees. For every month that you are on their system, you usually pay an access fee.

The usual fee to pay for gateway access is around $10.
Statement: $0 – $15 per month
The statement fee is charged because at the end of each month you will receive a statement from your processing bank that will list all the transactions that went through for that particular month. It’s very much like your credit card or telephone bills.
Daily Close-Out: $0 – $0.15 each day
Associated with software and terminal processing solutions where at the end of every business day you close-out all your transactions. Many providers do charge this daily closeout fee.
Address Verification System (AVS): $0 – $0.05 per transaction
The AVS service checks to see that the billing address given by the customer matches the credit card. If you opt not to use AVS, VISA and MasterCard will not support your transactions and will charge you an additional 0.17% to 1.25% on those sales. Most merchant accounts do have an AVS charge, even if it’s bundled with your transaction fee. The AVS service works only with US credit card holders. Currently, there is no AVS service in place for non-US credit card holders.
Chargeback: $5 – $35 per instance
A chargeback occurs when the cardholder disputes a charge that they found on their monthly credit card statement. A large number of chargebacks can cause your merchant account to be dropped totally and leave you in a bind when trying to get another merchant account for your business. If this is the case you may not be able to get another merchant account for several years. As a merchant it is important that you take the necessary steps to reduce and potentially eliminate the instances of chargebacks.

Reserve: Varies, ask the provider for details
Some providers will require you to have a reserve account where the amount is determined by your businesses estimated sales receipts. Usually a reserve is almost always charged to a Non-US based merchant who is trying to obtain a merchant account. Also, businesses that do a high volume of sales each month may be charged a reserve fee. Otherwise, there usually isn’t a charge. In most cases, the reserve fee is used to cover for any chargebacks on the merchants account. A reserve should be avoided if all possible.
Annual Fee: $0 to $100 per year
Some credit card processors will charge this fee just as additional way to pay for maintenance and system upgrades. This fee usually isn’t disclosed upfront. Ask your merchant account sales representative for information.

Cell Phone Credit Card Processing

Do you need the flexibility of processing credit cards on-site? Then wireless cell phone credit card processing might be exactly what your business needs. With the proliferation of smartphones in the US, it becomes more and more common to use a smartphone such as i-phone, Android, Blackberry or a Windows-run mobile device for your on-site credit card transactions. This is obviously a very convenient solution when you are out on an event or otherwise out in the field.

Most top merchant service providers offer some sort of credit card processing for cell phones, through a credit card machine for cell phone and software/apps for i-phone, android, Blackberry and Windows. Check in the comparison chart above, for the merchant accounts that process cards by phone. Always remember to check for compatibility between the cell phone you plan to use and the credit card processing solution, for both hardware such as the credit card swipe and the software.

ECPSS merchant account offers a free virtual credit card application. This virtual POS (point – of – sale) payment application is called MerchantWARE Mobile. No wireless terminal for several hundred $ needed. It works with a Bluetooth Card Reader for $149.00 or the iDynamo Credit Card Reader with data encryption for $129.00 for iPhone 4 and 3Gs. This cell phone application does not require any specific gateway fees or any other fees, you will only be charged your regular merchant account costs with Merchant Warehouse.

• Works with iPhone, iTouch, Android, Blackberry, and Windows mobile devices.
• No annual fees, contract fees, or termination fees
• Includes MerchantWARE virtual terminal that can be used for CC transactions with any computer connected to the web.
•  

Apply for a Merchant Account with Merchant ECPSS ACCOUNT now!
It has never been easier to bring your business wherever you go without having to take cash or checks only.

Debit/ATM Card Case Study

Here’s an example case study we completed to show you the savings by using a PIN Pad.
Solution Benefits

• No charge backs
• Reduced employee theft
• Ability to offer a cash-back option to customers
• Increased revenues
• No discount rate, only a per transaction fee
• Reduced risk of bad check losses
•  
•  

Internal or External? — Choosing a PIN Pad
When it comes to choosing an internal or external PIN pad for your retail establishment you will want to weigh in the pros and cons.
Internal PIN Pads
If you’re someone who wants an all-in-one unit then this may be the route you want to go. These processing terminals have a smaller footprint (since the PIN pad is internal) which doesn’t take up much space.

External PIN Pads
If you don’t mind having two pieces of processing equipment (terminal for credit cards and external, usually handheld unit for Debit transactions) then you may want to opt for an external PIN pad. IVI Checkmate, a manufacturer of payment processing equipment, completed a survey and found a few reasons why choosing an external PIN pad might be in your best interest.

• Swiveling can take up more counter space
• Most merchants don’t place their terminals in a customer-accessible location
• You may not want customers handling your processing terminal
• Strain on cables caused by swiveling can increase equipment failure rates

Who Needs This Solution?
Debit card processing is another good additional processing solution to credit cards. It is also the fastest growing way to pay for orders, topping credit cards. Any business no matter what industry they may be in can benefit from accepting debit cards. The convenience of not having to write out a check is something that can really draw people to use their debit card to make purchases. Retail merchants can certainly save themselves a lot of money each month by investing in a low cost PIN pad to connect to their swipe terminal. Again, online merchants can save money by looking into an eCheck acceptance service.

Debit Card Processing Resources
Any Merchant Account Provider will be able to set you up to accept debit cards if you are interested. Contact your provider now for details or search for one here

Debit Card Processing

What It Is and How It Works
Debit cards work with the same ease as credit cards and allow customers to deduct funds for purchases from their bank account (usually their checking account). True debit cards require a PIN number to be entered before a purchase can be complete. Many people refer to the Visa/MasterCard Check Cards as Debit cards since they do the same as true Debit cards, except for the fact these check cards do not require a PIN number to make purchases. You can easily identify check cards as they will have the familiar Visa or MasterCard logos on them.

The process works just like accepting credit cards except when you enter in the customers debit card information the amount to cover the purchase is deducted from the customers’ bank account.
Do you operate a retail establishment? You can save bundles on processing costs by accepting debit cards with the addition of a PIN Pad. Unless the swipe terminal you’re using includes an internal PIN pad, you will want to invest in an external one.
Processing debit/check cards as a regular credit card transaction can mean paying twice the amount for processing. By using a PIN pad for debit transactions you only pay a per transaction fee (between $0.35 and $0.55), sometimes no discount rate of any kind. Also, it should be noted that in order to ONLY incur a per transaction fee (if your processor is able to do this) the customer MUST input their 4-digit PIN number into the PIN pad or your processing terminal (if the unit has an internal PIN pad). If the customer doesn’t enter their PIN number, the typical per transaction and discount rate will be charged to those using debit cards with Visa or MasterCard logos on them (also called check cards).

True debit cards like Star, MAC, Honor, NYCE, Pulse, Interlink, and Maestro will only incur a per transaction fee because the customer must input their PIN number in order to use the card — it’s optional for Check Card customers, but it will save you money so encourage them to enter their PIN number, if they know it. This is ONLY available for retail establishments.
If you’re an Internet merchant you will still incur the same charges for debit card processing as you do with credit card processing. There is currently no special Debit card acceptance system in place that only incurs a per transaction fee for Internet businesses. You can save money by using an electronic checks (eChecks) service for your website.

Explanation of Credit Card Processing Solutions

In order to process credit and debit cards through your merchant account, you need to decide which processing solution is right for you.
Retail Swipe Terminal – This particular solution is for retail and storefront merchants who see their customers face-to-face. This type of solution incurs the lowest merchant account processing fees since you actually are able to swipe the customers credit card through the terminal. It is believed that orders that are swiped have a lower fraud risk, hence the reason for the lower processing fees. Check out our Complete Guide to Retail Merchant Accounts & POS Swipe Terminals.
Real-Time Processing – This is the solution for businesses on the Internet. Real-Time allows you to automatically process credit card orders through your merchant account with no assistance needed on your end. Everything is automated, and the funds transferred into the merchant account, from the cardholder, is deposited into your business checking account, within a few days. All Real-Time solutions are secure and the purchase of a secure certificate is not usually required. Get more information on a real-time internet merchant account.

Virtual Terminal – If you are a merchant on the Internet and expect to receive orders via phone, fax or mail then getting a Virtual Terminal solution (along with a Real-Time processing solution) is the best route to go. The Virtual Terminal is a secure website where you login and manually type in a customers credit card information. Once the information is submitted, it is securely processed and funds are then deposited into your merchant account within a few days. A Virtual Terminal can be accessed securely from any computer connected to the Internet. Most all Real-Time processing solutions also come with a Virtual Terminal at little or no additional cost. Virtual Terminals can also double as good mobile processing solutions, click here for more information.

Wireless Merchant Solutions – There are two types of mobile solutions, solutions that allow you to swipe a credit card in a mobile environment and Touch-Tone solutions that allow you to manually enter card information into a touch-tone phone. The Touch-Tone solutions are usually good for smaller mobile merchants that want to process credit cards in a mobile environment without high startup costs. The wireless swipe terminal solutions are great for merchants that don’t mind purchasing the terminal up front (purchasing is usually better than free terminal options as often times free terminals come with hefty termination fees). Both the touch-tone and wireless swipe solutions have benefits, it really depends on your business needs in the area of credit card acceptance. Find out more about available wireless merchant accounts.

Credit Card Processor

The credit card processor gathers the information provided (either via website, phone or retail swipe terminal) and performs a series of security checks. These checks make sure there is enough funds available in the cardholder’s account, makes sure the credit card is not reported as lost/stolen, verifies the billing address the customer provided at the time of the order with the credit card number provided, checks to confirm the correct cardholder name and expiration date were given, and can even verify the correct security code (CVC or CVV) on the back of the credit card should one have been entered during the ordering process.
After the information is processed by the credit card processor, the funds are then deducted out of the cardholder’s account and placed into the merchant’s business checking account. Should the cardholder request a refund, the processor does the exact opposite by taking the funds out of the merchant’s account and placing it back into the cardholder’s account within a few business days.

Specialty Scenarios – What are your processing needs?

Credit card merchant account is something provided by a Merchant Account Provider or bank that allows you to accept credit cards in your business. A credit card merchant account can be setup for any business type. Your business type and credit rating will determine what rates and fees you will incur with your credit card merchant account. Internet and mail order/telephone order (MO/TO) merchants will find that processing fees will be higher than for a retail establishment. The reason is because it is believed the level of fraud is considered much lower in retail then it is when a card is not present to be swiped. Listed below are a number of scenarios. Each case is linked to a cost effective merchant services solution that best fits what you are looking for, or to a comparison of credit card processing companies. Which one fits you?

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Credit card merchant account

Here’s your chance to learn details about different terms and phrases used in the merchant account industry. Our merchant account knowledge base is constantly growing each and every week. If there is a payment processing phrase that is commonly used that you would like to recommend here please contact us.
Please be aware this section of MerchantSeek is very new. We’re developing a list of payment processing phrases that we’ll be adding in as time goes on.

Merchant Account Services & Other Payment Solutions

Merchant services, accepting credit cards online and other payment processing solutions is vitally important to the success of your business. The fact is, your businesses success or failure can depend on whether or not you accept credit card orders. Searching for a good deal from a merchant account provider is a slow and tedious process. Now, we’re bringing the merchant accounts and ATM machine options to you! That’s right, no more time consuming searches on the search engines, because we’ve done the searching for you. We have both developed an online database providers who issue merchant accounts, and created extensive archives and resources (articles, news and more).  MerchantSeek was created to aid you in the process of locating a provider that is right for your businesses needs and budget.

A General Introduction

Credit card processing can be a confusing subject. Before you jump in with both feet lets give you an introduction; What merchant accounts are, what information is needed to obtain your merchant account and rates/fees involved.

What is a Merchant Account?

Merchant accounts are special accounts that are setup for a business to accept and process credit card orders. After processing a customers credit card the transaction goes through a series of complex stages. The money transferred through the merchant account is then deposited into the business’s checking account within 2 to 3 business days.

Requirements for Merchant Accounts

Getting important information together ahead of time will ensure that you breeze right through your merchant account application process. Here’s what you may or may not (depending on the provider) need in order to obtain your merchant account:

• Checking account (some providers set you up with one but most require that you have one already. If you’re a Sole Proprietor you may usually use your personal checking account, however if you’re an LLC or Corporation you may need a business checking account).
• A copy of a voided check (if you use your own checking account for funds to be deposited in).
• Articles of incorporation, business license or re-seller license. – only if applicable. (A ‘Certificate of Assumed Name’ from your county Register of Deeds office may be all that is required. These only cost around $8.) The purpose of this is to prove you are a legitimate business.
• Pictures of business office and location – usually only if you’re high risk – (this extra step can save you money in credit card processing costs). If you are not considered high risk when you apply this is typically not needed
• Have a web site (if you want real-time online processing). If you are not an online business you will not need a website
• Return policy information (even if it’s “no refunds” a provider will need to know this).
• Higher risk accounts may need to Provide trade references.
• Photocopy of recent tax returns may also be needed for higher risk accounts (may or may not be needed depending on monthly sales volume you expect through your merchant account).
• A photocopy of your drivers license may only be required if you’re a Sole Proprietor that doesn’t have a business license.

VISA payWave can accept smartphone's payment

On January 10, 2012 Visa Inc. and Visa Europe made public their certification of a new range of NFC-capable smartphones that can be used with payWave, the company’s aptly named mobile system for point-of-sale payments. The new phones by Samsung, LG, and RIM have been added to the list of Visa-compliant payment products and can now be commercially deployed by financial institutions.

The specific models include the LG Optimus NET NFC, Samsung Galaxy S II, the Blackberry Bold (9900 and 9790), and the Blackberry Curve (9360 and 9380). On each phone the payWave app is hosted on a secure SIM and makes use of short-range Near Field Communication (NFC) technology to send payment information to contactless terminals. Users literally “wave” their phones at the device.

The potential for smartphones to be used as mobile payment devices is another step forward in moving away from the less-secure magnetic stripe cards that have long dominated the payment sector, and toward chip-enabled cards and other NFC-based payment methods. Not only is the technology more secure, but it allows merchants a broader ability to offer added-value services at the point of sale.

The industry is clearly trending toward NFC-based transactions as the standard, with analysts like Yankee Group predicting the value of these transactions, which stood at $27 million in 2010 will grow to $40 billion by 2014. NFC usage has already gained much broader acceptance in Europe, where Visa has approximately 30 million contactless cards in distribution through 54 banks. By the end of 2012, Visa expects their number of contactless cards to reach 50 billion.
While the chip cards and NFC enabled technologies have been slower to catch on in the United States, Visa has been a leader in offering incentives to merchants to switch out their terminals. All of the smartphones now approved for use with payWave are highly popular with U.S. customers who are rapidly becoming accustomed to using their devices for action-specific purposes well beyond texting and voice calls.

The ease with which such transactions can be handled, mitigating the need to carry multiple cards, is proving highly attractive with the public. Business travelers who routinely use their cards in Europe have been clamoring for American acceptance of the new technologies.
By the end of the 2011 gift-giving season, 50 percent of Americans were carrying some variety of smartphone, with the number expected to grow steadily throughout 2012. As these new users become more comfortable with their devices, and more sophisticated in their use of the available apps like payWave, the transition to NFC technology will gain even more momentum.

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What transaction processing solution is right for your business?

What transaction processing solution is right for your business? Read through our solutions guide to find which solution your business is going to need and how each solution works. If you have questions about fees, what merchant accounts are, etc., go to our FAQ section. Check out our glossary of terms, also.

Refer to the table below to see which credit card processing solution is right for your business: NR = Not Recommended, POS = Point Of Sale, MOTO = Mail Order/Telephone Order
* In this case, it would be best to have both a swipe terminal and Real-Time solution since running retail (face-to-face) orders through the swipe terminal would incur less charges (lower discount rate and per transaction fee) then it would running the transaction through a Real-Time solution. In short, process your face-to-face orders through the swipe terminal and your MOTO and Internet orders through the Real-Time solution. You’ll need two merchant accounts for this, a retail merchant account and an MOTO/Internet merchant account. Check with a Merchant Account Provider for details as they may be able to cut you a deal.
Now that you know what solutions you can use for your business, take a look at the advantages, disadvantages and detailed explanations so you can effectively determine which solution you want to go with for your business.

Click the graphics below to view detailed information on each credit card processing solution:
Buyers’ Guide to Online Payment Acceptance
Are you new to accepting payment online? We’ve created a guide just for you. It will explain all the details about credit card processing and other payment acceptance solutions you should consider when setting up shop on the Internet. Get the facts before jumping in with both feet. Our easy-to-read guide covers these topics, in detail:

• Credit Card Acceptance – the basics, rates/fees involved, questions to ask providers, shopping cart software, chargebacks/fraud, SSL certificates and more.
• Debit/ATM Card Processing & eChecks
• Micropayments & Digital Cash
• Escrow Services

Are you ready to take the online payment acceptance journey?

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Other Payment Solutions

Have you considered offering your customers other methods of paying for your goods and services? You should! If you’re an Internet merchant you will find that offering more ways to pay can actually increase your sales. People like a varity of ways to order, they like the ability to choose which payment method is most comfortable to them.

Debit Card/ATM Processing

Debit card/ATM processing is almost like accepting credit cards except for the fact that your customers are using their debit card to complete an order. Funds are deducted from the customers checking account for purchases.

IVR Terminals

Interactive Voice Response Terminals, also referred to simply as IVR, are a relatively new method of being able to process credit cards, check cards (debit cards with Visa or MasterCard logo on them), and checks (ACH – Automatic Check Handling) via any touch-tone telephone.

PayPal

Over 8 million registered users use PayPal as their means for payment of online products and services. PayPal makes a great addition to your array of payment acceptance methods.

e-Checks & Checks by Phone/Fax/E-mail

e-Checks or Checks by phone/fax/e-mail are a good additional payment solution to credit card acceptance which allows you to collect payment via check over the phone, by fax, and even off your order form on your web site.

Micropayments (e-Wallet)

Micropayments are used to process small transaction amounts (from a few cents to $10 USD) that would otherwise severely limit your amount of profit if processed the same as credit cards.

Digital Cash (e-Cash)

Digital Cash is basically an encrypted serial number (online e-currency) that simply represents money. The customer then can spend the money at different merchants that support the Digital Cash provider the customer signed up with. Digital Cash gives added security and peace of mind to customers as they are not actually using their credit card directly to make purchases.

Escrow Services

Interested in added security of high dollar purchases and auction transactions? Then Escrow services are for you. They ensure the seller gets paid and the buyer is happy with their purchase.

Check Guarantee/Check Verification

Check guarantee is a program in which you are guaranteed to be paid on your checks. There’s no need to worry about accepting checks or collection on returned checks. Usually, the cost for this solution is about the same as credit card acceptance, however, some may offer it for a lower price. Check with your Merchant Account Provider for further details.

Electronic Funds Transfer (EFT)

EFT is a method for transferring money automatically by using the facilities of the Automated Clearing House, an entity associated with the Federal Reserve Banks. EFT is the only system by which a merchant can initiate a transaction to collect money from the bank account of a customer located anywhere in the USA. In addition, it can be used to transfer money outwardly to pay bills.

Automated Clearing House (ACH) & ACH Services

It is most often used to process low-dollar repetitive retail payments. Financial Institutions that are members of the FED ACH System send batches of credits and/or debits into the system, and the system sorts the items from all batches submitted, and routes them to the appropriate receiving financial institution. The system is used primarily for pre-authorized recurring payments such as payroll, corporate payments to vendors, Social Security payments, insurance premium payments and utility payments. Section also covers ACH Services like Electronic Check Conversion (ECC), Accounts Receivable Truncated Checks (ARTC/Lockbox), and Returned Check Collections (RCK).

Electronic Benefits Transfer (EBT)

Grocery shopping is one of the most widely performed activities around the world. If you are food merchant, you probably know that not everyone pays for their food with cash or credit cards, but many use food stamps as well. Now that paper is becoming a less and less common form of the food stamp. Many purchases are made with the use of a single card called Electronic Benefits Transfer card.

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New Payment Solutions

What will this 21st century bring to the world of payment acceptance? Use this page to keep up to date on the latest trends and happenings in new and updated ways to accept payment from customers. As the Internet grows, more automatic and less effort driven solutions will be developed to aid shoppers.

Smart Card Processing

Credit cards with a “brain”
Smart cards and credit cards are basically the same except for the fact smart cards contain a smart chip inside them that secures personal information about the cardholder making for easier and more secure purchases both in the retail and Internet industries.

IVR Terminals

Reduce chargebacks and fraudulent orders using any touch-tone phone
IVR Terminals, also referred to as Interactive Voice Response Terminals are a relatively new method of being able to process credit cards, check cards (debit cards with Visa or MasterCard logo on them), and checks (ACH – Automatic Check Handling) via any touch-tone or wireless cell phone. IVR Terminals help to greatly reduce chargebacks and fraudulent orders.

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Greater Security, Flexibility, and Global Acceptance Driving EMV Adoption in U.S.

On August 9, 2011 Visa moved forward with a three-part plan to speed up the adoption of EMV chip technology in the United States. Globally, for both credit and debit cards, the standard represented 40.1 percent of the payment cards in circulation for the first quarter of 2011 with 71 percent of the POS devices in the world capable of using the cards. The U.S., however, has dragged its heels on embracing EMV cards, with companies issuing them to their customers who travel abroad and not pushing acceptance of the more secure standard for domestic transactions.

EMV Offers Strong Anti-Fraud Protection

When compared to traditional magnetic strip cards, an EMV card is much harder for thieves to manipulate for purposes of fraud. The authentication and verification of the associated PIN is automatically performed by the chip, with each transaction carrying a unique data “stamp.” This dynamic feature makes the card’s data relative to the given transaction only, and both symmetric and asymmetric cryptography are used. The entire system of key management is elaborate and secure to create integrity in the transaction.
There are no numbers on fraud with these cards in the U.S. for obvious reasons, but statistics gathered by groups like Banque de France, UK Payments Administration, and Interac in Canada prove that EMV technology lowers fraud at physical points of sale, at automated teller machines, from counterfeiting activities, and in scenarios where the card is not present.

Failure to Implement EMV is a Problem for U.S. Travelers

Another factor driving acceptance of the technology in the U.S., beyond the fact that EMV is a sophisticated and secure platform, is the fact that EMV has emerged as a global standard. American business travelers are not only inconvenienced, but are at a disadvantage when they travel abroad and attempt to use archaic magnetic strip cards that are refused at POS transactions and at unattended terminals. Additionally, in accepting EMV, merchants are positioning themselves to take contactless and mobile payments as well, like those enabled by near field communications on smartphones.

EMV Also Driving Mobile and Contactless Transactions

 

At the POS, a mobile payment transaction is not seen as any different than a card transaction since the payment is based on the EMV specifications. Although there are few contactless terminals in the U.S. at present — maybe 7 million locations representing 2 percent of merchants –more than 50 percent of Americans have smartphones. Their perception of what they can do with those units rather than just make phone calls is expanding daily, and they are rapidly becoming accustomed to the convenience of having a hand-held computer at their disposal.

Visa’s plans to accelerate the acceptance of EMV payment technology in the U.S. are well timed, and geared toward a market already ripe for the more secure transaction, with some banks and currency exchange companies already issuing EMV cards. Perhaps most significantly, Walmart is in the process of upgrading its POS devices for EMV compliance. The widespread adoption of the more secure EMV platform will depend both on consumer demand and attractive incentives like those being offered by Visa to merchants to make the change.
The EMV picture should look far different in the U.S. by the end of 2012, when the country should be closer to accepting that EMV cards are the global standard and that American consumers are being left wide open to fraud with the out-of-date metal strip technology.

GOOD NEWS

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website site:http://www.ecpss.com/index_en.html    

Offshore High risk Merchant Account

If your business one of the following: retail, online pharmacy, travel, ticketing, entertainment, etc. please complete the form below to receive a rate quote within 48 hours or less. Our featured providers are specialized in offering payment solutions to both low and high risk merchants.

• The most competitive offshore processing costs that you’ll find anywhere.
• Accept major credit cards, debit cards and checks.
• Back-end reporting, query, and data download tools
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• Recurring billing
• Advanced fraud prevention solution
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Offshore Merchant Account Inquiry/Pre-Application

 

Simply complete the form below and a sales representative will contact you shortly with more information and your rate quote.
Are you tire to find a professional payment gateway for your great business ?
we are the professional online payment gateway ,we can accept visa,master ,JCB,AE credit card payment method ,all high risk  business types welcomed! 99.9 % approval rating!Never locked your merchant account!Low, competitive rates .

skype:goodluck3801
E-mail: paymentgateway@yahoo.cn
website site:http://www.ecpss.com/index_en.html   

How to reduce chargeback and fraud efficiently

Merchant concern about online credit card fraud and chargebacks is rising at a significant rate. According to the 2001 Online Fraud Report, conducted by Mindwave Research, it revealed that, “41% of merchants say the issue of online credit card fraud is ‘very serious’ to their business.” As e-commerce continues to flourish the number of instances of credit card fraud and chargebacks will continue to mount higher. It should go without saying that the need to take certain measures to reduce and virtually eliminate chargebacks and fraud is certainly paramount.
Chargeback, the word that Internet merchants fear. A chargeback is what it’s called when a transaction is reversed. In other words, rather than adding money to your account it is deducted. Chargebacks can occur for a wide variety of reasons, such as double-charging, credit card expiration, bank error and customer disputes. If you get too many chargebacks against you, there is a possibility that you will lose your merchant account. Once you’ve lost your merchant account you are placed on the Visa/MasterCard Terminated Merchant File (TMF/MATCH list) for several years which all Merchant Account Providers have access to, and if they find you on the list they won’t reissue a merchant account to you. If you are one of those merchants who have lost their merchant account, there is still hope. Bank Card Law specializes in helping companies who’ve lost their merchant account because of excessive chargebacks.
Here are some ways you can greatly reduce the instances of chargebacks and fraud, even potentially eliminate the risk altogether:

#10 If the customer is present examine the card carefully
One common sense method to fight chargebacks is to examine the customer’s card. Look at the expiration date and the signature panel for good measure. If the card does not have a signature you are free to check the customer’s ID. You may also request that the customer signs the card and if the customer refuses, you may decline to accept the customer’s credit card.
#9 Verify CVC2 and CVV2 Verification Numbers
This tactic alone can not only reduce instances of chargebacks by 26%, according to Visa, but also reduce any pass-through fees that may be charged when a credit card order is conducted. On the back of MasterCard, most Visa and Discover credit cards is a 3-digit security code located right after your credit card number. Requiring customers to give the 3-digit code acts as an additional verification measure. American Express cards also have a similar security code that is located on the front of the card right above the cardholder’s account number and is usually 4-digits long. Most online payment processors support entering the security codes when processing credit card orders. Check with your payment gateway provider (i.e. Verisign, Authorize.Net, ECHO Inc., etc) for details.

#8 Use Address Verification System (AVS)
AVS checks to ensure the address entered on the order form matches the address to where the cardholder’s billing statements are mailed to. People ordering products and/or services using a stolen card number will never use the real cardholder’s billing address, so this is your chance to stop the order before it’s too late. AVS only works with orders conducted in the US. Failure to use AVS when processing credit card transactions will always result in paying higher credit card processing fees.
#7 Scrutinize orders from developing foreign countries
A large percentage of fraudulent Internet purchases are made from Indonesia, Russia, and other eastern block or developing countries. Accept orders from such countries at your own risk until a worldwide AVS system is developed.
#6 Let customers know what name will appear on statements
Many merchants who use 3rd Party Processing companies have run into problems because the company name that appears on cardholder’s monthly statements is usually the name of the 3rd party processing company and not the company name of the site the cardholder made their purchase from. This isn’t always the case, but in many cases it is. If you use a 3rd party processor, and even if you don’t, make sure the customer knows what name will appear on their credit card statement at the end of the month. This will help to reduce any confusion that might would otherwise occur.
#5 Handle suspicious orders accordingly
If an order seems suspicious the best way to handle the situation is to either call or e-mail the customer and attempt to verify that they placed the order. As a rule of thumb, if in doubt, check things out. It may be a good idea that if a customer makes an unusually large volume purchase from your site to follow-up with a verification call. This is where a system like VoiceStamps, featured here, can come in very handy.
#4 Watch out for orders using free e-mail addresses
Be wary of accepting orders from people who used a free e-mail address when ordering (i.e. Hotmail, Yahoo, etc.). Tracking people who used a free e-mail address is almost impossible, it’s much easier for them to get away then if they used their Internet Service Provider (ISP) or their own company web site e-mail address. To check whether an e-mail address is a freebie or not just take the part of the address after the “@” symbol, add “www” to the front of it and see what website it brings up (i.e. joe@yahoo.com = www.yahoo.com).

#3 Signatures on delivery
If your business delivers products use a carrier that requires a signature on delivery, and allows you to have a copy of the signature. Retain these for your records.
#2 Request fax copies of ID and credit card
You may want to request your customer to fax a copy of both sides of their credit card and driver’s license. This tactic usually works best in a B-to-B (business to business) sales environment. While this is not a defense under Visa or MasterCard rules, it is yet another way to deter fraud.
#1 Posting a warning message
Taking the time to post a warning message on your order page to those who may attempt to make a fraudulent order will greatly deter the number of instances of fraud. Be sure to mention that IP (Internet Protocol) addresses are being logged. IP addresses can come in handy when locating people about fraudulent orders.
Taking measures to deter and eliminate fraud and chargebacks from occurring are a necessity in order to operate a successful online business. Each day companies dedicated to risk management are developing solutions to provide merchants, like yourself, with extra protection because of the financial burdens chargebacks and fraud can bestow if ignored.
Are you tire to find a professional payment gateway for your great business ?
we are the professional online payment gateway ,we can accept visa,master ,JCB,AE credit card payment method ,all high risk  business types welcomed! 99.9 % approval rating!Never locked your merchant account!Low, competitive rates .
skype:goodluck3801
E-mail: paymentgateway@yahoo.cn

Online Payment and Credit Card Processing Options

By offering a credit card processing and online payment service such as Paypal or Worldpay on your website, you enable your visitors to make direct payments into your merchant account. Many online payment services are highly secure, free and offer cheap credit card processing services. Most online payment providers collect a small commission for the credit card processing service.
ECPSS
Ecpss is a leading e-payment service provider , with a mission to provide better e-payment solutions and value-added financial services through technology and innovation.. Ecpss is the rising leader in secure online payment solutions that was founded to facilitate safe instant payments between individuals and online businesses.
Under the "Ecpss" brand, the Company's products and services aspire to support a safe and convenient transaction environment and establish secure, fast and confidential payment platform for e-commerce operators, Internet content providers and individual users.. "Ecpss" is the number one choice for making money and sending payment online.

The Company has established strategic partnerships with VISA, MASTERCARD, JCB, AE.
Ecpss has members in 190 + countries, supports 21 currencies and offers localized banking in 46 countries. We are always working on making our services available to more people all over the world.we can accept visa,master ,JCB,AE credit card payment method ,all high risk  business types welcomed! 99.9 % approval rating!

PayPal

Paypal is the easiest way for customers to make online payments. Payment is made either directly through your website or via e-mail. Paypal charges a small fee for credit card processing. When a visitor from your website initiates to pay you using Paypals online payment service, the customer is sent to a secure Paypal website. He or she than enters the details of their credit card for verification and processing. After the transaction, Paypal will redirect the user back to your website.
WorldPay

WorldPay is a popular online payment service used by many ESL tutoring services, or with companies dealing with foreign currency. Worldpay offers a very flexible and simple solution to multi-currency payment. In addition to visitors making online payments on your website, Worldpay allows you to collect payments by phone, fax or mail using the same online payment processing service.
To use the services of Paypal, Worldpay or some other online payment and credit card processing service provider, you will have to copy and paste some simple HTML codes into your web pages.
skype:goodluck3801
E-mail: paymentgateway@yahoo.cn

Choose Your Payment Gateway in Easy Steps

 1  Know Payment Gateway Definition
Payment gateway is an infrastructure to enable a web merchant having an online ECommerce store to charge a customer from his credit/debit/prepaid card or bank account(netbanking) resulting in transfer of funds electronically from customer’s account to merchant’s account.
 2  Learn payment gateway & Ecommerce terminology

Payment Gateway

A payment gateway is an Ecommerce online transaction processing platform/interface which allows a merchant(you) to receive payment online from customers using various types of cards and netbanking facilities

 

3  Read Pros & Cons of accepting cards online?

4  Are you selling any banned products?

5  Which factors to look for when comparing payment gateways?

6 Learn about Merchant Account Fees that you may need to pay to payment gateway service providers

7 Do a Price Comparison of payment gateways in China.

 

8 Any doubts? Raise it in our Payment Gateway Forum. We'll try to respond to your queries in the discussion forum. 9 Go through this checklist before you apply for a merchant account so that your website does not get rejected! 10 Done. You'd have finalized a suitable payment gateway. Apply for it.

 We are professional High risk products of online payment gateway leader , we have established strategic partnerships with VISA, MASTERCARD, JCB, AE. we have members in 190 + countries, supports 21 currencies and offers localized banking in 46 countries. We are always working on making our services available to more people all over the world.

we are the professional online payment gateway ,we can accept visa,master ,JCB,AE credit card payment method ,all high risk  business types welcomed! 99.9 % approval rating!
24/7/365 customer service   
All high risk business types welcomed!
99.9 % approval rating!
Never locked your merchant account!
Low, competitive rates
Contact info : skype name:goodluck3801
E-mail: paymentgateway@yahoo.cn
website site:http://www.ecpss.com/index_en.html 

What are the specific costs of an online payment gateway?

Discount Rate
The first thing you need to know about is discount rates. These rates (usually 2-6%) are commissions split by a few parties taken from your client’s payment. They are attributed to your merchant account provider and/or payment gateway and finally, the credit card provider. They will vary greatly depending on the payment gateway/ merchant account setup you choose but will be involved in any credit card transaction you ever make.

With some payment gateways, the discount rate will decrease as the your total monthly sales amount is increased through that gateway. For example, with Google Checkout, the discount rate a totally monthly sales of less than $3000 will be 2.9% but for over $10,000, it would decrease to 2.2%.
Monthly Fees
Almost all payment gateways that require a merchant account charge a monthly fee. The more services and functions your gateway offers  (or you choose), the higher these fees will be.

It’s worth noting that some of these fees are optional, and if you integrate with an application to handle your e-commerce, you may not need some options. For example, some payment gateways will add an extra charge if you want to use their service to enable auto-billing (the ability to process regular, pre-authorized payments on a client’s credit card).  If you set up auto-billing in ECPSS merchant account , you don’t need to pay anything extra to your payment gateway.
One common value-added feature you might want to consider is a fraud detection toolbox. With most payment gateways, you are given a number of tools to help you guard against fraud, such as filters to define the scope of people or places you receive payments from. As an example, ECPSS payment offers their Advanced Fraud Detection Suite. It’s a good idea to add this service if you will be accepting payments from people who you do not have an existing relationship with (ie people who sign up on your website, as opposed having been a client for 10 years) because it will help reduce chargebacks.
Per Transaction Fees
Lastly, for each transaction you process, most payment gateways charge a flat fee. It’s usually under fifty cents per transaction, but I’m afraid this fee is pretty much unavoidable.
Setup Fee
When you sign up for a payment gateway, there is also usually a setup fee. Sometimes, it’s free (like PayPal Standard), but most of the time the setup fee ranges from $49 – $250. The good news = at least the setup fee is only a one-time charge, and I am positive you will quickly earn it back.

   Laid out like this all in one list, the costs may seem surprising. But when you factor the costs into enhanced convenience for your customers and dramatically improved cashflow, as well as the time your will save collecting from your customers (no checks in the mail, or records to update because ECPSS payment gateway will do that automatically), it is well worth it.

How do payment gateways work?

        You know those machines where you swipe your credit card in restaurants and retail stores? A payment gateway is kind of like one of those, just without the need for a card to be present to be charged. It is literally a gateway between you, your client, your client’s credit card provider and your bank.
The main job of the gateway is to validate your client’s credit card securely, make sure the funds are available, and get you paid.

   Some gateways also require what’s called a merchant account. A merchant account is essentially just a special kind of bank account that handles your funds received via credit cards. If you have a storefront or a retail business, and are swiping people’s cards, then you already have a merchant account.
Even if you do already have a merchant account, there’s still one step you should take if you want to start accepting online transactions. You’ll need to give your bank a call and ask them to set you up for an Internet merchant account. This is different from a regular merchant account, because it gives you the ability to process credit cards without the card being physically present for the transaction.

If you do not have a merchant account or are not interested in getting one (it can take some jumping through hoops to get set up), ECPSS can be a great way to start. ECPSS functions a little like a merchant account add-on for your existing bank account. You can collect credit card payments in your ECPSS account, then link it to a personal bank account (most people forget this step) to transfer the funds as necessary (note: not automatically – you have to specifically choose to transfer the funds).

   If you would like to get a merchant account (a good idea if you’re processing a lot of transactions), then all the payment gateways will help you get one. The process does require some paperwork, however, and a few days (two to five) for them to run the appropriate credit checks.