1. What Are You Selling?
The reason for this is because
VISA/MASTERCARD does not accept
every type of business there is.
Because of high return and charge
back risks, each sponsored bank
has a criteria of what kinds of
business they will and will not
accept. That is why when you
check with your local bank there
is a very good chance that your
application will be denied if you
are anything but retail.
2. What Is The Criteria For
Acceptance?
The less risk your business is
to the bank, the greater your
chance of acceptance. If you were
operating a retail store selling
stationary, your chances for
approval is many times greater
than if you were operating the
same business from your home or
over the Internet. To the bank
the retail store is far more
secure than your home based
business.
3. What Do I Need to Do Then To
Accept Cards? I Am Not A Retail
Store.
The answer is that you need to
work with a company or a bank
that can approve these kinds of
businesses. They have met the
criteria and the requirements
from VISA/MASTERCARD to approve
businesses other than your
standard walk in Retail store
such as Mail Order, Phone Order,
and Internet related businesses.
4. What About The Costs? Are They
Any Different For A Retail Vs. Home
Based Business.
The answer to this goes back
to the "Greater The Risk,
The Higher The Cost." In
almost every case the cost
(discount rate) to process a
transaction is going to be more
to you than if it was done in
person. Most home based
businesses process sales over the
phone, through the mail, and over
the Internet. There is no signed
sales receipt in all of these
types of transactions. This
invites the high possibility of
chargebacks. Hence, more risk,
higher cost than if it was
retail.
5. What Kinds Of Typical Startup
Costs Can I Expect?
You should expect to invest a
startup amount of between $190.00
- $300.00 from most companies in
our industry. These amounts can
include application, setup,
equipment rental lease deposits
as well as additional costs for
poor credit, higher risk, etc. **Click here to
find info about lower priced
alternatives.
6. What About Equipment. What Will
It Cost?
This is going to vary
depending on the kind of
equipment you choose. If you
lease your equipment, your
payments should range anywhere
from $35.00 to $49.00 per month
for a complete processing system
including a terminal and an
automatic printer, and in many
cases software. If you are
looking to process Online
Internet Realtime transactions,
and want to add on Shopping
Carts, etc, amounts will increase
according to the amount of
customization you need. **Click here to
find info about lower priced
alternatives.
* JDD Publishing is now a proud
affiliate with National Card Systems. We
chose this company because of it's strong
business history and it's low-cost
merchant account programs. Click here if
you are interested in obtaining a
merchant account for your business.
Without being too detailed
in this short article, the first thing
you'll need to reveal is: