3. If I have a retail business is it a good idea to accept debit or check cashing cards?
This is definitely a great idea. The reason it is sucha great idea is because it is just like accepting a Visa or MasterCard as long as the logos of MasterCard and Visa are clearly displayed. One of the mistakes merchants make is that they treat them like a credit card sale and not like a debit transaction where the funds are verified when processed. The great advantage of debit transactions are that they are a lot less expensive and the key difference is that they need to enter a PIN number on either the terminal or external pin pad.
Online merchants can only process debit cards as a credit card transaction. Technology is improving and one day pin numbers will be able to be entered into the website. The best method for online customers is to use an online check who want to pay from their checking account.
The beautiful thing about having these transactions act like debit then credit is the funds are actually guaranteed once you recieve the approval and are not subjected to painful Visa/MasterCard regulations which means that these transactions are final and CANNOT be chargebacked by the customer. It is just like writing a check without any chance of it bouncing. If you are a retail merchant always treat these as debit transactions as this will SAVE you money and it is a final sale.
General Information
1. What exactly is a Merchant Account and do I really need to have one?
2. What other options are available ?
3. Is it necessary to accept credit cards ?
4. When I make a credit card sale how do I get the money ?
5. Can I apply for a merchant account at a bank ?
6. When looking for a merchant account provider how do I find the right one?
7. What information do I need to provide to set up a merchant account?
8. What is a high risk processor what makes them risky?
9. I plan to open an online store what must I know about processing credit cards online?
10. If someone wants to make a check payment on my site can I process it?
11. How do I implement the payment process on my website?
Fees/Expenses
1. What other fees are involved not listed on the site?
2. Are there any other fees you aren't mentioning on the site?
3. Why are American Express and Discover more expensive when they aren't as widely used like Mastercard and Visa?
4. What kind of fee does American Express and Discover charge?
5. What is the best price to pay for a digital terminal or software?
6. I don't have very much start up cashflow but would like to start right away what should I do first?
7. What can I do to prevent chargebacks and credit card fraud?
Risks and Safety
1. Is it risky to accept checks as I know some people refuse to pay with a credit card?
2. If I decide to accept checks what other pertinent information should I know first?
3. Is it possible to accept check payments on my website?
4. How safe is it to accept credit card payments over the internet? Is it really secure?
5. How can i reduce the risk of accepting bad or fraudulent credit cards?
More Information
1. If I already have a terminal is it possible I can have it programmed with my new merchant account provider?
2. Am I able to process Foreign, Government or Corporate credit cards?
3. If I have a retail business is it a good idea to accept debit or check cashing cards?
4. What is real time processing and electronic terminals? How about software?
5. Virtual terminal? What is that exactly?
6. Does a virtual terminal allow you to process checks?
