What Kind of Business Should Invest in Merchant Processing?

There’s no limit to what kind of success your business can achieve if you have the right tools. Whether you’re looking to expand your business, increase your revenue, or simply solidify your current business model, you’ll want today’s most advanced financial solutions on your side.
If you’re interested in investing in a merchant processing account, take a look below to see if your business can benefit from the services provided by a merchant account provider…

Are You Looking to Expand Your Business?

Accepting credit cards is one of the easiest, most universal ways to help your business expand. A merchant account can help you manage and track your payments for simpler transactions without the hassle of an unreliable payment gateway. Vision Payments also offers our clients up to $500,000 in merchant capital funding, with high approval rates, no fixed payment amount, and no personal collateral needed. With working capital in your pocket, you’ll be able to upgrade your equipment, purchase advertising space, and open new locations.

Are You a Small Business?

Small businesses occupy a very special corner of the market. If you want your small business to become a viable competitor within your market, then it’s time to let a merchant account take care of your payment processing so you can focus on other areas of your business’ growth. A low-credit credit card processing rate can help you manage costs while giving your business the security that comes with a dependable method of payment.

Are You a Traveling Vendor?

If your business is rooted in selling at tradeshows and markets, you’ll want an easy-to-manage payment processor that goes wherever you go. Today’s merchant accounts come with a wide range of solutions (even apps) that help vendors get a customizable view of their account whenever and wherever they need it.
Are You a Business Looking for Additional Convenience/Security?
You could limit yourself to only accepting cash or checks, or using payment gateways that are known for their unpredictability and stringent terms of use, but odds are they will only lead to future financial struggles for your company. Your best bet is a merchant account with reliable customer service and flexibles solutions that work with your company, not against it. If you want your company to thrive in our increasingly technologically-driven world, you’ll also want an account with additional mobile support.

Do You Own Any Kind of Business?

If you own a business, whether it’s a small passion project or a rapidly expanding business venture, a merchant account is well worth the investment. Business owners know that all too well that running a business requires juggling more than one ball at a time. With a dependable payment processor in your corner, you can focus your energies on making your company more efficient and, ultimately, more successful.
To find out more about Vision Payments’ merchant accounts, virtual terminals, equipment leasing, or merchant capital funding, call VPS at (877) 674-2286.

Merchant Account Alternatives (And Why You Want to Avoid Them)

If you’re not yet convinced that your business should be using a merchant account, it might be time to look at your alternatives. Today’s market is filled with so-called “handy” apps an tools that help merchants keep track of their transactions and receive the funding necessary to keep their business moving forward.
Take a look below at some of today’s most popular merchant account alternatives and why they just don’t measure up.
Square – Square is one of the most popular payment options used by merchants today. While the app and corresponding payment gateway are relatively easy to use, the latest customer reviews aren’t happy about how Square has been running their business. The majority of reviews state that the company has a serious lack of customer service, and that solutions to customer complaints are in short supply. There have also been many reports of Square withholding funds and shutting down customer accounts without cause. Not cool, Square.

Checks and Cash

Checks and cash are relatively simple solutions when it comes to getting paid. They don’t require any kind of payment gateway and offer a lot of flexibility when it comes to customizing your payment. However, more and more studies suggest that checks and cash are slowly becoming a thing of the past. Economists report that a mere 8% of the world’s currency is physical, while the rest exists in the form of digitized funds. Not only are you limiting your business to the use of antiquated payment methods, you’re also subjecting your business to an antiquated payment tracking method.

Third Party Providers or Payers

Third party providers such as PayPal are a popular choice for small businesses with a low transaction volume; however, more and more businesses are finding that third party payment options aren’t all they’re cracked up to be. One of the most common customer complaints involving third party payment providers is hidden fees. While companies like Paypal claim to help small business, they actually keep a sizeable chunk of your revenue for themselves. They also force strict rules regarding the number of transactions your business is allowed to handle, and leave sellers vulnerable to fraud and security threats.
Vision Payments works tirelessly to provide our clients with a merchant account that suits all of their needs. If you’re a merchant or small business looking for a reliable, efficient way to process your payments, let us take care of you. Contact Vision Payments today to find out how we can help you and your business succeed.

Merchant Accounts vs. Managed Risk Accounts

As a growing business, it is critical to establish and maintain a merchant account as a means for accepting credit card and debit card payments. Most businesses have stopped accepting checks, and the circulation of cash is decreasing in the face of rising credit card popularity.
However, there is a distinct difference between a standard merchant account, and an account with what is referred to as managed risk.

Merchant Accounts

Basically, a bank provides an account for a merchant to accept payments, normally for credit or debit cards. The payments can be accepted using a physical terminal, like a standard credit card machine, or an e-commerce payment gateway. There is usually a contractual agreement between the merchant and the payment processer, which outlines the fees, rates, and any terms of initiation or cancellation. Merchant accounts will not always open accounts with merchants who work in higher-risk industries.

Managed Risk Accounts

A managed risk merchant can be defined using the following:

  • Collectibles or antiques
  • Businesses that sell adult items
  • Telemarketing services
  • SEO companies
  • Apparel
  • Nutracuticals
  • Supplements
  • Cosmetics
  • E-cigarettes & Vape
  • Coaching
  • MLM
  • Tech Support
  • Travel
  • Time Share
  • Resort

Essentially, any merchant that does business in an industry where failure or minimal profits are more likely. Managed risk accounts must be opened with a merchant account provider who specializes in overseeing managed risk merchant accounts. However, not many account providers are willing to do business with managed risk merchants.

It is important to shop through merchant account providers. Because many banks aren’t armed to open managed risk merchant accounts, it may feel difficult to find a good provider, and it can be easy to accept the first provider you find. It is essential to avoid jumping on the first account provider you can find. Due to the nature of managed risk businesses, many managed risk account providers may charge egregious fees, fines, or rates. Experts advise merchants to research their options thoroughly to find a provider who is more apt to offer shorter-term contracts, an absence of cancellation fees, and flexibility with your business preferences.

What Merchant Processing Services are Right for Your Small Business?

Once you’ve decided on obtaining a merchant account for your small business, the question then becomes what kind of services are right for your business. Every business has different needs, especially when it comes to small vendors, which makes research a must when searching for your account provider.

For Vendors on the Go

Modern technology has made credit card transactions on the go simpler than ever. Many merchant processors offer convenient apps for vendors traveling to trade shows and markets. These apps require little to no additional hardware other than your smart phone, and offer all the conveniences of a merchant account. Vision Payments’ Mobile App requires no payment terminal or phone line, only your customer’s credit card information!

For Extra Security

One of the most important features of any merchant account should guaranteed PCI compliance. PA-DSS guidelines are the gold standard when it comes to transaction security—anything less might spell trouble for you and your customers in the future. For additional security, look for merchant accounts and merchant account software that offer SSL encryption, password protection, customer verification, and fraud protection.

For Easy Money Management

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If you’re looking for simplicity, look for a merchant account with consistent, hassle-free management and reporting. Discuss your merchant account’s reporting system with your agent to ensure that you’re always informed of your company’s transactions. Vision Payments offers easy online reporting for vendors that want around-the-clock access to their transaction information, which makes it easier to track your business’ process, manage your profits, and make plans regarding your business’ future.

For a Little Extra Guidance

Look for companies willing to put their customers first. Some merchant account providers rely on one-size-fits-all solutions that unfortunately don’t work for everyone. Look for a provider that’s willing to work with your business to give you exactly the tools you need to get your job done. And make sure that you’re comfortable with your provider’s policies and practices. A good relationship with your provider can go a long way in providing you with peace of mind as you try to help your business grow.
Contact Vision Payments at (877) 674 – 2286 to find out if our services are right for you. We’ll be happy to answer your questions and give you the information you need to decide which of our merchant account solutions are right for you.

How Does Merchant Processing Work? And is it Worth it for Your Small Business?

Among the most important investments a small business can make is a merchant account with a reliable merchant account provider. The ability to accept credit and debit card payments can transform small startup businesses into viable competitors, opening them up to a wider clientele base and keeping their money in a consistently manageable state.

How Does it Work?

Merchant accounts can be set up through a number of merchant service providers in order to provide merchants with a convenient method of payment directly to the merchant’s checking account.
Step 1: The customer offers the vendor a form of electronic payment (credit or debit card) through the vendor’s desired payment gateway.
Step 2: Merchant captures the credit card information, sending it to the card-issuing bank for approval.
Step 3: An MSP issues the value of the transaction to the merchant’s account within one to two business days of the purchase.
Step 4: The merchant is sent a bill/statement including the previous month’s fees and transactions.

Is it Worth it?

While it is possible to do business without the help of a merchant account, a merchant account makes it much easier to receive credit card payments. With a merchant account, you can rest assured that the money you expect from your transaction will be safely deposited into your business’ account with minimum hassle.
Merchant account providers also offer a number of other services with help in tracking your transactions, managing your terminal gateway, and setting up product lists. With PCI compliant merchant account providers, you’ll benefit from an added measure of security, with encryption and password protection services that will keep your money and information safe at all times.
While you might think that your business isn’t large enough to merit a merchant account, it’s one of the most effective ways you as a business owner can plan for future business growth.
Contact Vision Payments today to find out which services are right for your business—we’ll help you manage your transactions and give you the resources you need to help your business succeed.

Why Vision Payments is the Merchant Processor for You and Your Small Business

A merchant processer can provide your company with a wide array of tools and solutions that will help your business evolve from a startup to a formidable competitor. However, not all merchant processors are created equal, and choosing the right merchant account provider requires some homework. Vision Payments offers a long list of benefits when it comes to merchant account management—here are just a few:

More Solutions

Vision Payments offers a full range of merchant processing services for every business, no matter its size. If your business is just starting out, one of the smartest things you can do is get your payment processing on track. With Vision Payments, you’ll be able to open your business up to new clients through credit/debit card payments using a variety of software and hardware terminals. We can also help you deploy integrated POS solutions for easier payments and even help your business secure funding or financing—up to $500,000!

Mobile Solutions

Mobile technology is a growing trend in payment processing, and it looks like it’s here for the long haul. Give your business an edge with the VPS Mobile App, which allows you to accept credit and debit cards no matter where you are. All you need is a mobile device with an internet connection, and you have instant access to the easiest mobile payment terminal in the industry. The PCI QSA evaluated app meets all PA-DSS standard and offers full SSL encryption and password protection to protect both you and your customers. You’ll also be able to manage you transactions on the go for easier reporting.

PCI Compliance

Vision Payments understands the value of security, which is why we strictly adhere to the Payment Card Industry Data Security Standards (PCI-DSS) set forth by the PCI Security Standards Council. As your merchant account processor, we can help you maintain the highest levels of security by helping you build and maintain a secure network, protect cardholder data, implement access control measures, and more. With our help, you can rest assured that your business’ information will be protected from potential threats.

Dedication

Vision Payments’ #1 priority is customer satisfaction. We do everything possible to ensure that our customers are taken care of, and that their businesses are able to thrive. From innovative approaches to credit card processing, to superior fraud protection and security, to unmatched customer service, we guarantee that you’ll be satisfied with your credit/debit card processing.
Contact us today take your business to the next level with a merchant account from Vision Payments.

How to Take Your Small Business to the Next Level with Merchant Processing

The small business market is more competitive than ever, with an estimated 27.9 million small businesses in the United States alone. With competition steadily on the rise, it’s time for small businesses to pull out the stops to make themselves a viable competitor within their industry—and it all starts with their payment processing.
Today’s technology makes it easier than ever for small businesses to manage their funds. Here’s how to take your business to the next level with a few easy steps:

  1. Look for customized merchant accounts
  2. What sets small businesses apart from corporations is their ability to cater to the individual. You should expect the same from your small business merchant account. Look for an account provider that’s willing to customize your merchant account to fit your needs. If you’re interested in taking your business online, consider e-commerce payment gateways; if you want to simplify your billing process, look for packages with electronic billing. You can never predict where your business will take you—make sure that your merchant account will be able to keep up.

  3. Make sure your processing system is PCI compliant
  4. PCI compliance has become a growing concern over the past few years. Complying with PCI standards is now required for all businesses accepting any form of credit card payments. To avoid penalties and other inconveniences, it’s important to stay up to date with any PCI compliancy changes and keep your credit card payment processes legitimate. Choose from a host of tools to protect your data, including tokenization, hosted payments, secure gateways, and end to end encryption.

  5. Use small business software to keep your finances in order
  6. These days, there’s a software for everything. You’ll likely use a variety of software packages to keep your business running smoothly, and credit card processing is no different. From helping you with your accounting to keeping your payroll in order, software can eliminate the human error that causes businesses to fall under. You’ll also be able to monitor your business’ process over time by tracking important data points such as swipe rates, processing times, and overall revenue.

    There’s never been a better time to open a small business in America. With simplified mobile payments and credit card processing, small business owners can take control of their business and help it grow through smart, customized financial decision-making. For more information about how to get your small business on the track to success, contact Vision Payments today at (877) 674 – 2286.

Why Use a Merchant Processor?

Accepting credit cards has become the norm in today’s digitally-driven business landscape. More and more businesses and vendors are taking advantage of the growth potential credit cards offer; however, few are sure how best to go about processing their credit card payments. There are a number of processing methods advertised on the Web, including setting up an account with your bank of choice, all of which have their advantages and disadvantages. If you’re looking for optimal results and minimal financial setbacks, thought, a merchant processor is the right option for you.

How do they work?

There are several stages involved in getting the money from your customers’ credit card to your bank account. The sale requires approval, your customer’s information must be collected to extract a payment, the card must be verified, etc. This process can take anywhere between one or two days, with additional steps required for certain types of cards and payment methods. A merchant processor simplifies your involvement in the process by handling the payment from beginning to end.

Why Use a Merchant Processor?

The most obvious benefit to using a merchant processor is simplicity. Rather than worry about who or what will be handling your customers’ money and/or information, a merchant processor offers peace of mind in knowing that each piece of data is being handled correctly and securely. Without a merchant processor, you could be faced with additional processing fees and payment delays due to unforeseen red tape.

Merchant Account Processors have also been proven to be more cost-effective than other options. While other processing methods (such as PayPal) might forego monthly or yearly fees for regular use, they make up for it with much steeper payment fees. If your business experiences a high volume of credit card transactions each month, a merchant account will save you money in the end.

Perhaps the most convincing reason to use merchant processors is customer service. Merchant account processors are experts when it comes to troubleshooting minor problems, which minimizes the headaches associated with running your business’ finances. Merchant accounts also provide more personalized customer service based on what kind of services your business requires, rather than the “one size fits all” mentality typically seen from more general payment processors. And since your customers won’t be directed to another website when making a purchase from yours, you’ll be able to maintain a greater sense of control over each purchase, with your business’ name appearing on the receipt rather than a processor’s.

For more information on what benefits you can receive from a merchant processor account, contact us today at (877)674-2286. Give your business the tools to succeed with simplified payment processing and more from Vision Payments.

Top Seven Merchant Processing Tips from the Experts

If you are a merchant, it’s important to understand some important aspects of merchant processing. Here are some great tips for finding an excellent merchant payment processor:

  1. Terms and Conditions: Ensure that your choice of merchant payment processor has very simple, intuitive terms and conditions with all of the costs clearly stated, and no outstanding fees or conditions.
  2. Be Careful with Signing Long-Term Contracts: In addition to carefully reading the terms and conditions, ensure that you know the length of the contract you are about the sign. Sometimes, merchant processors will offer a long-term contract with excessive fees in the event of cancellation. In addition, it can be risky to “put all of your eggs in one basket”, so to say. When you sign shorter-term contracts, it gives you the opportunity to change your options when needed.
  3. Ask the Right Questions: Don’t let any question go unasked. Communication is important, and you have to ensure that you know every aspect of your merchant card processing provider. Ensure that you understand what the processor provides, what they expect out of you, and what they are willing to do for you.
  4. Compare and Contrast Prices and Options: While convenience is nice, always shop around and really compare and contrast the pros and cons of each processing provider. Take time, as a company, to decide your goals, what you want out of your processor, and the type of contract you are willing to sign.
  5. Get all Things in Writing: If you strike a certain deal with your processor, discuss anything important, or alter your contract with your processor’s approval, it is critical to have everything in writing. It is wise to have a physical copy on hand, as well as a digital copy (if possible).
  6. Personalized Attention/24-7 Services: Your processor should show your business care and attention. They should care about your company, your growth, and your mission. If they seem out of touch or impersonal, it may be important to reconsider your business dealings. It is incredibly beneficial to do business with a company that provides 24/7 customer services. It can be difficult to wrestle with business hours when you are in need of assistance, or you need a resolution as soon as possible.
  7. Back-up Services: It can be incredibly beneficial to use a merchant processing service that can function offline.

The History of Merchant Processing

In a world where only an estimated 8% of the globe’s currency is physical cash, it’s hard to imagine a time when credit cards didn’t rule the economy. In fact, credit cards were only an idea until the 1970s, with some primitive forms of paperless payments appearing in the 1950s. Today, merchant processing, mobile payment, and other digital marvels make payments easier and more secure than ever.

The Beginning

The Diners Club issued its Travel and Entertainment card in 1950, which is today recognized as the first credit card. Meant to act as a substitute for cash for businessmen and travelers, the card was the first to charge merchants a discount rate (percentage taken from the sale as a fee) for each use. By the end of the 1950s, both “Charg-it” and American Express entered the game, each introducing their own forms of paperless payment. And by 1960, most financial institutions offered some form of “credit.”

Goodbye, Paper

During the 1970s, credit cards took a major step towards becoming the digital marvels we know them as today. The paper-based payment system of the decade caused tremendous losses and overhead, necessitating the switch to a more automated system, and electronic payments were born. In 1979, the all too familiar magnetic strip was introduced, which facilitated several POS (point of sale) updates to make credit cards more functional and less cumbersome.

Credit Cards

In 1994 Lipman Electronics Engineering, Ltd. created the world’s first wireless credit card terminal, which not only became the face of credit card processing throughout the 1990s and 2000s, but revolutionized credit card processing. Since then, the credit card industry has seen smaller developments, including the introduction of NFC chip reading and pin technologies, which have worked to reduce the threat against credit card users and merchants alike.

Mobile technology

Making credit card payments is easier than ever with the introduction of mobile payments, both for consumers and merchants alike. Mobile applications such as Apple Pay and Googe Wallet eradicate the need for plastic in the pocket and give the buying power to the smartphone. While it is still in its beginning stages, mobile credit card payments and processing is quickly becoming a burgeoning business that promises major advancements in the near future.

Get more out of your merchant processing account by learning about its roots. Contact Vision Payments today to understand where the industry is headed, and how you can take advantage of it for your business.