Small Business Merchant Account
With a small business merchant account processing credit cards, debit cards, and checks is easy. Whether you choose an Internet, retail , or wireless merchant account; you'll be able to accept credit card transactions quickly and reliably. What's more, you can have the funds deposited to your checking account in as little as two days.
A reliable small business merchant account should deliver more than just dependability. Using the highest level of secure technology, the account should protect both you and your customers. As Internet, identity, and credit card fraud are increasingly on the rise, finding an experienced credit card processor is essential.
Merchant account providers are industry experts in small business account services, and each reliable provider cautions its customers about the risk of fraud. Credit card fraud will cost online merchants millions of dollars. As consumers increasingly make purchases on the internet then fraud is likely to grow. In an effort to protect our customers, please use the following recommendations to avoid online credit card fraud.
How to Avoid Fraud with a Small Business Merchant Account
Ask for complete address and contact information for every credit card you process. Follow up if possible to verify the sale. Use technology such as TeleCheck® to guarantee against bad check writers. For merchants that have an Internet merchant account they need to guard against orders that happen late at night. Orders that take place late at night tend to have a higher degree of fraud associated with them.
Another important thing to watch out for is customers who order very high dollar items and who don't seem to care about the cost of what they are supposedly buying. You see, they don't care because they aren't paying for it! They tend to order things online in large quantities and in large dollar amounts. The criminals have no intention of paying for the items ordered so they don't care what the total bill comes to. In fact, they like the bill to be as much as possible because that allows them to steal more money.
Unfortunately many fraudulent transactions take place from buyers that live outside the United States. Some merchants have a policy of not accepting credit cards from customers that live in other countries. This is basically a business decision for each owner to make. If you are selling items that only cost a small amount then it may be worth it to you to take a fraudulent hit once in a while. However, if you are selling high dollar items it might not be worth the extra sales you have. It all depends upon each individual business plan.