Nearly every established business needs extra money for expansion, advertising, and other business reasons. Most probably, traditional lending companies like banks will not be able to provide financing for expansion. Nonetheless, there are other solutions. For example, reputable merchant account providers like Canadian Merchant Account Services, are more than pleased to provide help for businesses to get merchant account funding.
How Merchant Account Funding Works
When a company accepts credit cards as mode of payment, they do have an available cash flow asset. This asset may be leveraged any time and be used as an instant source of capital. This process is called merchant account factoring.
While this may look the same as a loan, it doesn't work in the same principle. In merchant account funding, you're actually selling your future credit card sales to the merchant account provider at a slight discount. In this set-up, you stay away from the hassles of applying for a loan at the bank. There are no queues and the approval is quite fast.
Application Process
To apply for a merchant account, visit the provider's website, complete the application for a funding request, and then wait for a return call. As soon as the application is approved, the funds go directly to your bank account in a few days. Some providers may offer next day funding, but usually, you can expect the funds in 5 to 7 business days.
In the application form, there are a few questions you need to answer. These answers will determine if you can get approved or not. These will include your business name, contact information, approximate number of sales in a month, your credit card service provider, etc. Make sure to specify when you will need the funds as well.
Purposes of Funding
The funding can be used for a variety of reasons. Here is a list of possible excellent reasons to get approved:
• Company expansion
• Relocation
• Renovation
• Advertising
• Emergency purchases
• Equipment purchases
• Debt payments
• Payroll
• Tax payments
Not all companies have the necessary finances when the need arises. Hence, businesses can truly make use of the benefits that they can get from this source of financing. If traditional financial sources aren't an alternative, leveraging your merchant account funds can assist you to get your finances in order. If you would like more related information about merchant account, then you can visit the website of wikipedia.
Who Can Use Merchant Account Funding
Remember that this type of financial strategy isn't for everyone. Merchant account providers may only approve businesses having a proven sales record. Usually, businesses with at least six months of credit card processing history are accepted for funding. However, there may be exceptions according to the provider’s terms. To know more, click here.
Showing posts with label mastercard processing. Show all posts
Showing posts with label mastercard processing. Show all posts
Monday, 20 February 2012
Exploring Merchant Account Funding For Business
Nearly every established business needs extra money for expansion, advertising, and other business reasons. Most probably, traditional lending companies like banks will not be able to provide financing for expansion. Nonetheless, there are other solutions. For example, reputable merchant account providers like Canadian Merchant Account Services, are more than pleased to provide help for businesses to get merchant account funding.
How Merchant Account Funding Works
When a company accepts credit cards as mode of payment, they do have an available cash flow asset. This asset may be leveraged any time and be used as an instant source of capital. This process is called merchant account factoring.
While this may look the same as a loan, it doesn't work in the same principle. In merchant account funding, you're actually selling your future credit card sales to the merchant account provider at a slight discount. In this set-up, you stay away from the hassles of applying for a loan at the bank. There are no queues and the approval is quite fast.
Application Process
To apply for a merchant account, visit the provider's website, complete the application for a funding request, and then wait for a return call. As soon as the application is approved, the funds go directly to your bank account in a few days. Some providers may offer next day funding, but usually, you can expect the funds in 5 to 7 business days.
In the application form, there are a few questions you need to answer. These answers will determine if you can get approved or not. These will include your business name, contact information, approximate number of sales in a month, your credit card service provider, etc. Make sure to specify when you will need the funds as well.
Purposes of Funding
The funding can be used for a variety of reasons. Here is a list of possible excellent reasons to get approved:
• Company expansion
• Relocation
• Renovation
• Advertising
• Emergency purchases
• Equipment purchases
• Debt payments
• Payroll
• Tax payments
Not all companies have the necessary finances when the need arises. Hence, businesses can truly make use of the benefits that they can get from this source of financing. If traditional financial sources aren't an alternative, leveraging your merchant account funds can assist you to get your finances in order. If you would like more related information about merchant account, then you can visit the website of wikipedia.
Who Can Use Merchant Account Funding
Remember that this type of financial strategy isn't for everyone. Merchant account providers may only approve businesses having a proven sales record. Usually, businesses with at least six months of credit card processing history are accepted for funding. However, there may be exceptions according to the provider’s terms.
How Merchant Account Funding Works
When a company accepts credit cards as mode of payment, they do have an available cash flow asset. This asset may be leveraged any time and be used as an instant source of capital. This process is called merchant account factoring.
While this may look the same as a loan, it doesn't work in the same principle. In merchant account funding, you're actually selling your future credit card sales to the merchant account provider at a slight discount. In this set-up, you stay away from the hassles of applying for a loan at the bank. There are no queues and the approval is quite fast.
Application Process
To apply for a merchant account, visit the provider's website, complete the application for a funding request, and then wait for a return call. As soon as the application is approved, the funds go directly to your bank account in a few days. Some providers may offer next day funding, but usually, you can expect the funds in 5 to 7 business days.
In the application form, there are a few questions you need to answer. These answers will determine if you can get approved or not. These will include your business name, contact information, approximate number of sales in a month, your credit card service provider, etc. Make sure to specify when you will need the funds as well.
Purposes of Funding
The funding can be used for a variety of reasons. Here is a list of possible excellent reasons to get approved:
• Company expansion
• Relocation
• Renovation
• Advertising
• Emergency purchases
• Equipment purchases
• Debt payments
• Payroll
• Tax payments
Not all companies have the necessary finances when the need arises. Hence, businesses can truly make use of the benefits that they can get from this source of financing. If traditional financial sources aren't an alternative, leveraging your merchant account funds can assist you to get your finances in order. If you would like more related information about merchant account, then you can visit the website of wikipedia.
Who Can Use Merchant Account Funding
Remember that this type of financial strategy isn't for everyone. Merchant account providers may only approve businesses having a proven sales record. Usually, businesses with at least six months of credit card processing history are accepted for funding. However, there may be exceptions according to the provider’s terms.
Wednesday, 7 December 2011
Phishing Scams And Merchant Accounts Tips
For those who currently have a merchant account with an online bank, or those who have obtained some type of merchant services lately it's extremely important to safeguard yourself from phishing scams. These scams occur during credit card processing transactions, and can also often be hard to detect.
The individual or group who is doing the phishing will pretend to be the bank that you presently hold accounts with. They will call you or send you an email. When they call you they will declare that they are actually your bank or merchant provider, and will ask for you to verify all of your personal information. The email will appear the same as the ones that you do get from the company, and will request that you put in all your personal information. Once these people have what they really need, they'll take your hard earned money and steal your identity.
To avoid phishing scams there are some different things you can do:
* Never ever give information to somebody that called you.
* Don't enter information from a link you received.
* Avoid using a charge card on a public computer or network.
Charge card processing is something that each and every person uses, regardless if it's Visa processing or Mastercard processing. In order to safeguard all of your transactions, make sure that you are using the card through a verifiable source. Contact the credit card companies immediately when you have any concern that you may possibly be victim of a phishing scam, or if you are skeptical regarding a transaction request. This tends to only take a few minutes to do, and this also could protect your identity, and protect you from getting your money stolen. Click here for more details.
There are many other scams that merchants must be aware of, before submitting your charge card information to someone that you don't know:
* Look out for $1.00 scams. This is false charity asking you to pledge a single dollar, and then you end up losing hundreds.
* Don't deal with people from out of the country who are making offers that are too good to be true. Someone who is offering to pay more than a product is worth, plus shipping is scamming you.
* Try and deal locally if possible, and when you can't, always have the consumer making use of your merchant services pay through PayPal directly, instead of sending you a link to another site.
Using a reputable merchant provider is going to help you avoid becoming a victim of credit card phishing. Work with a company that has a high reputation in customer satisfaction, and that takes problems like identity theft seriously. Your future could be at risk when you unknowingly sink into a phishing scam doing routine credit card processing, so follow these tips and watch out.
The individual or group who is doing the phishing will pretend to be the bank that you presently hold accounts with. They will call you or send you an email. When they call you they will declare that they are actually your bank or merchant provider, and will ask for you to verify all of your personal information. The email will appear the same as the ones that you do get from the company, and will request that you put in all your personal information. Once these people have what they really need, they'll take your hard earned money and steal your identity.
To avoid phishing scams there are some different things you can do:
* Never ever give information to somebody that called you.
* Don't enter information from a link you received.
* Avoid using a charge card on a public computer or network.
Charge card processing is something that each and every person uses, regardless if it's Visa processing or Mastercard processing. In order to safeguard all of your transactions, make sure that you are using the card through a verifiable source. Contact the credit card companies immediately when you have any concern that you may possibly be victim of a phishing scam, or if you are skeptical regarding a transaction request. This tends to only take a few minutes to do, and this also could protect your identity, and protect you from getting your money stolen. Click here for more details.
There are many other scams that merchants must be aware of, before submitting your charge card information to someone that you don't know:
* Look out for $1.00 scams. This is false charity asking you to pledge a single dollar, and then you end up losing hundreds.
* Don't deal with people from out of the country who are making offers that are too good to be true. Someone who is offering to pay more than a product is worth, plus shipping is scamming you.
* Try and deal locally if possible, and when you can't, always have the consumer making use of your merchant services pay through PayPal directly, instead of sending you a link to another site.
Using a reputable merchant provider is going to help you avoid becoming a victim of credit card phishing. Work with a company that has a high reputation in customer satisfaction, and that takes problems like identity theft seriously. Your future could be at risk when you unknowingly sink into a phishing scam doing routine credit card processing, so follow these tips and watch out.
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