Low Risk Merchant Accounts

The world is becoming full of traders both online and offline and it is a normal part of trading practice these days to be able to take money for goods from credit and debit cards. But how easy is it to obtain these facilities and at what cost?

As the worldwide credit crunch has bitten we have seen a major clampdown by the banks on their criteria for offering facilities. One of the major banks in the UK routinely declines over 70% of all applications for the facilities offline and more so for online facilities as they perceive the risk for offering the service to have risen disproportionately to the potential rewards.

All the suppliers are looking to set up low risk merchant accounts . These accounts ideally will have a low to nil chargeback rate caused by customers being dissatisfied with their goods and claiming their money back. Generally, when this hits a certain rate for a particular industry type, the account will be closed but the banks are getting very touchy about this and some sectors are flatly refused. (more...)

Credit Card Travel Insurance

Whilst the banks endlessly continue to produce ever more services to their customers, cross selling at every opportunity, it is easy to be lulled into a false sense of security that the banks know best and their products are faultless. Recent events have shown how vulnerable they are and how they can place the general public at financial risk. In particular, this applies to their various insurance divisions.

Take the case of travel insurance. Many people have come unstuck relying on the thought that the insurance cover they have associated with their credit card gives them comprehensive holiday or travel cover, the same as the full bank travel insurance which includes cover for medical expenses, repatriation, cancellation fees and many other items.

The cover provided by most credit card travel insurance policies is, however, rather limited and is sometimes referred to as ‘Travel Accident’ cover. When you break it down, it means that cover does not apply to you before you travel or when you arrive at your destination, it only covers you, quite literally, while you’re travelling and may provide only compensation for injury on the trip. For example, if you were robbed, it might only cover you just for monies stolen whilst travelling and not if stolen from the hotel room at your destination – a common source of claims. (more...)

About Travel Merchant Accounts

Every company that does business on the internet needs a reliable credit card processing service. Why? Well, without one a company cannot ensure the safety of payment information. And with credit card theft and fraud still quite common on the net, it is highly unlikely that anyone would want to complete a transaction on your site without some security.

How do they work? Travel merchant accounts can often be obtained through a bank or financial institution. These businesses are later sent transactions from the online merchant and it is their job to process the payments. Once a payment has been completed, the service provider will then return the money to the merchant minus a small commission for every transaction.

For the merchant the primary concern is always the commission rate that they will be charged. You see, these rates vary widely based on the level of risk involved in the industry the merchant competes in. And unfortunately for travel merchants, the travel industry is presently considered high risk. (more...)

Types of Business Insurance

One of the most complicated, frustrating things every new business owner must deal with is finding the right kind of insurance. It is also important to obtain the proper amount of coverage. In this brief article we are going to discuss a few of the most important and popular types of business insurance .

Every company that owns its own building must obtain property insurance. These policies protect owners against loss or damage both to the building and its contents. The most popular type of property insurance protects against fires. Depending on the policy, this coverage may extend to bosses and employees.

Another popular kind of coverage is liability insurance. A liability policy protects the company against lawsuits when employees make a mistake or are negligent. This coverage is all but indispensible for large companies with many employees. For smaller businesses with few employees, it is often considered inessential. (more...)

UK Merchant Accounts for Online Businesses

As online commerce continues to grow in the UK, more and more businesses are selling their products or services over the internet. But before any company can accept credit card payments online they must obtain UK Merchant Accounts .

What is a merchant account? Really it is nothing more than a financial contract between a business and a financial institution, often a bank. The agreement says that the bank has the permission to process the company’s card payments for a set fee or commission.

This rate is determined by a number of important factors, the single most important one being the industry that the company competes in. For example, businesses that are involved in online pornography or gambling are typically classified as high risk and they are consistently charged the highest rates. (more...)

How to Find the Best Euro Exchange Rates

Rule number one here has got to be that you should not step foot over the threshold of a bank in order to exchange your pounds sterling into euros. Why do so many people still feel that banks can help them out on this score? They plunged us into the darkest recession for many decades, what on earth makes you think that they are going to be kind with you when you’re looking for the best euro exchange rate ? In short, they absolutely will not!

Not only will banks offer rubbish exchange rates, they will often charge you a commission for the transaction as well - so avoid these establishments like the plague. Travel agents will be more completive than the banks and often you will find commission free options available but in this article we are specifically talking about finding the very best Euro exchange rates.

For this you are going to need to log onto the internet. As many companies offering money online have less overheads, this is where you are going to find the best value for your holiday pound. In actual fact, the rates for the Euro online will be the closest you will ever find to the actual trading rate and it is very rare that you will have to pay any commission. (more...)

Competitive Merchant Account for New Businesses

Before a company can accept credit or debit card payments online they must obtain a merchant account. These accounts are offered by financial institutions, who are the one that actually process the payments. For performing this service, the provider receives a commission fee.

Because online businesses are riskier than traditional ones, the commission rates are often much higher for them. This is due primarily to chargeback fees, which are assessed when the customer asks for his money back. The cost of essentially undoing a transaction can be quite high, which is why online commissions can be prohibitive.

It is also why it is essential for any new online business owner to shop around a bit for a competitive merchant account . The fact is that there are a number of additional charges that a business can easily avoid if they locate the right provider. (more...)

Currency Exchange Rates for Overseas Property

So… you’re all set to go ahead and purchase that dream property overseas. You’ll forgive me if I’m coughing back the jealousy at this time! Seriously though, this is one time when you have to pay a huge amount of attention to the currency exchange rates for overseas property , as any difference in a transaction of this size will have serious implications on your pocket.

Let’s take the Euro zone as an example of where you are looking to purchase your property, but in reality the same advice will hold firm for any worldwide currency.

First and foremost you need to shop around intensively for the institution that is able to offer you the very best deal. The higher the rate of Euros that you are going to receive for each pound, the less the property is actually going to cost you. Also, be vigilant of paying commission. To be fair, if we are talking about a transaction of around £100,000 plus, any company you exchange with are already going to make a nice profit on you. (more...)

About PCI DSS Compliance for Small Businesses

Many companies new to online selling make the mistake of believing that once they have a merchant account they are free to receive online payments without worry. This notion has been disproved time and time again as hackers have stolen valuable credit card information from supposedly secure sites. That is why many small businesses have decided to become PCI DSS compliant.

If you have never heard of it, PCI DSS compliance is a security standard that can help companies process and store credit card information. Though the service is not required, if your business is not compliant and there is a security breach that results in stolen credit card information, you will be held financially responsible. Additionally, PCI related fines can be as much as 300 thousand pounds. In extreme cases, a business may be forbidden from ever accepting online credit card payments again.

Since larger companies can afford the best in internet security protection, most thieves only target small businesses. When there is a security breach from a non compliant site, loss of clients as well as subsequent fines are often enough to ruin a business. That is why PCI DSS compliance for small businesses is essential. (more...)

Corporate Reputation Management

It’s all very well to have the cleverest business plan and the most excellent quality of service, but if your internet presence is less than positive, your business is doomed to fail in spite of all this! For all companies and businesses wishing to grow, a strong and positive internet presence is extremely important.

Brand image is everything today. And with consumers becoming more aware while making choices, it is vital to create a proper image that reflects your company best. It is equally vital to manage information pertaining to your company properly, so the profile of your company remains positive. This is where corporate reputation management comes in.

SEO management makes sure you company shows up in the top listings on any search engine. But what about the remaining listings on the top page? Who owns and controls those? It is a fact that most people do not browse the search results beyond a couple of pages. So it is important to manage at least the first page of your listings to make sure your company is projected in a positive light. (more...)

How to Expand Your Business

So, you own a business and it seems as though things are not really moving on all that quickly at the moment. You have a steady stream of revenue on your books but are definitely looking to expand more in the future. What can be done about this?

The first thing that you need to consider is to contemplate establishing a strong presence online. For this, you will need a catchy website; one that will grab a potential customer's attention and convince them to do business with you.

With this plan in mind, you will need to think about how you are going to accept payments online . If you decide to go ahead and instruct the service of a professional website designer, they will be able to make all of these convenient arrangements for you. (more...)

Strict Compliance for Credit Card Companies

In current times, it is extremely important to ensure that our credit card transactions are completed securely, and this is why the Payment Card Industry Data Security Standards are crucial to protect both the consumers and the retailers from fraud and other illegal activities.

Any organisation which bears the logo of the PCI on its credit cards, it bound to uphold this standard with strict controls and checks. Larger organisations are assessed by an external assessor, called a Qualified Security Assessor. However smaller companies are allowed to carry out their own compliance checks, by completing a PCI complaince SAQ (self assessment questionnaire) .

The main areas which are protected by PCI compliance are: Network Security, which includes firewalls and passwords; Cardholder data security to ensure confidentiality; Vulnerability Management Programme for system security; Access Measure controls to protect the cardholder's data; Network testing to rigorously and regularly test procedures and access; and the strict adherence to an Information and Security Policy. (more...)

What is Reputation Management Strategy?

Jargon is a must for virtual businesses. Everything has a fancy, overly complicated name. In this article we are going to discuss a virtual strategy that is used by most online companies today. It is called reputation management strategy and is every bit as simple as it sounds. The strategy is all about improving and protecting a company's reputation on the internet.

There are several basic tools that companies and business owners can employ to manage their reputations online. The most popular sites on the internet today are social networking sites. Because they are a reliable barometer of public opinion, most companies have an account on one or more of the top sites. If you do not have one, take five minutes to create a free account on a popular site.

Depending on your popularity, users will leave comments for and about your company each day. Some of these comments will be positive, while others will inevitably be critical. It is up to you to take the time each day to review these comments and address any and all legitimate concerns. (more...)

Earn With Your Quality Content

Why give away quality content for free when you can monetise the multimedia content on your website? Several websites are monetising the video content on their website, by creating innovative ways to generate revenue from viewers.

Some websites offer partial content for free, but full access is available only to paying customers. While this model is fairly successful, it often dissuades one time visitors who are not interested in purchasing a regular service.

Another popular and more effective method of generating video payments is to offer free viewing minutes per day. After which customers are prompted to pay to watch the remaining content. This method works by virtue of its nature. (more...)

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