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How Credit Card Processing Services Can Help Your Business Run Smoothly

By George Rico on December 11, 2010

No matter your style of business, credit card processing services can dramatically increase the professionalism of your company, the impression given to consumers, and best of all - the ease of running the business for you. Merchant services choices can now be customized specifically for each business, allowing each individual plan to simply upgrade the style of running things already in place.

Types of credit card processing differ greatly for each style of business. Retail merchant accounts are the most common account, and these are used by traditional storefront operations - you probably use one every day! With these accounts, a credit card terminal reads the information on the card for the purchase to determine whether the card can be used for this particular transaction or not.

These accounts are typically low risk, as buyers have to be physically present to make the purchase. There are options available for further security, including having all credit card processes address matched to lessen the chances of the fraud. For this process, the card holder must know the address associated with her account in order to prove ownership.

In the case of retail storefronts, customers often expect to be able to use their preferred style of payment. Customers also want this to be quick, safe and hassle-free. It has been reported that nearly three-fourths of consumers prefer to use credit or debit cards when making purchases, due to ease and safety reasons. If you don't offer this option, how much business are you missing out on? Reassure all potential consumers with a reputable merchant account processing all of your credit card purchases.

Mail order and telephone merchant accounts also use a terminal to process payments, either a physical one with a keypad or a virtual terminal, which is essentially a computer program that checks and transmits all card information. These methods require someone to manually input the information and wait for the transaction to go through or be denied before completing any transaction. There is virtually no other way to speedily offer payment options for mail order or telephone purchases, as other options would all require items to be physically sent and then double-checked as the money posts.

Internet merchant accounts are becoming increasingly popular. If you are looking to expand your business to include online—and therefore worldwide—sales, you can be reassured that Internet sales are the fastest growing type of sales. Internet merchant accounts are entirely automated and do not require any observation or interaction. Most businesses find that they both increase the number of new sales, as they reach a clientele base that they formerly could not, and they increase the number of repeat sales from previous customers who may find purchasing from afar more convenient.

There are also wireless accounts that accept credit card payments from mobile devices, typically for salesmen or consultants who are on the road much of the time.

Specialized merchant services for hotels, resorts and hospitality suites are also available. This is especially useful for those who have multiple forms of purchasing that may need combining. A customer can pay for room charges, spa or salon packages and restaurant tabs all at once. Hotels can also issue cards that can allow all purchases to be placed on a prepaid or a tab card for the convenience of their guests.

For all types of accounts, gift cards can easily be issued, and store credits and returns are a simple process as well. Credits will show up immediately, allowing for the consumer to have the possibility to use them at that time. If a refund needs to be given back to a credit card, refunds will return to their account within forty-eight to seventy-two hours of the refund request.

Gift cards also issue immediately, and are a great way for a business to generate a given profit and to market themselves. Either way, a business will make money with a gift card, as income is initially generated from the purchase of the gift card. When gift cards are given to consumers that are new to the business, the potential for more return revenue is made. Finally, consumers rarely spend the exact amount on the gift card, which means if they either spend under the gift card, or over the card, your business makes additional money.

How will the first impression of your business be? Make it a great first impression with all customers by using a reliable merchant service company to process all credit card payments with ease, efficiency and without any hassles. The number of customers using credit cards is growing every day. They provide ease for the consumer. Provide the same ease for your customers by contacting a merchant services provider today.

George Rico is a freelance writer who writes about a range of topics including credit card processing .

Original article published on SooperArticles.com

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