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February 28, 2007

Credit Card Processing

One of the things that all businesses can find difficult, most especially in the early days, is finding someone who will process credit card payments. You would think that the banks themselves would be falling over themselves to collect the fees but it really just doesn't work that way.

The problem is, you see, fraud. In two senses: there's the possibility that this new business is in fact a front for some fraudsters. No, not you of course, but others out there. They will collect card numbers from legitimate customers, double or triple charge them, and then disappear before the charges can be queried: but after they have been paid. The second possibility is that the customers themselves will be using fraudulent cards and this will result in chargebacks to the merchant account. If the merchant doesn't have sufficient capital to cover these, then the bank or processing company will have to eat these.

This can make it difficult for a small company to get a merchant credit card account.

Now, there is a way out of this bind, for you as a small or new company to solve this problem, that you have to prove that you can cover these risks when you clearly can't. You use the services of a credit card processor. As they're not a huge bank, where everything must be done according to rules laid down by head office, they can be more flexible. They can charge the correct rate for the risks that your business offers, they can sum up both the risks and rewards from your activities.

Advantage Processors is just such a company. They deal with both the low risk, low value transactions like restaurant sales and also with the higher risk, higher value ones like mail order and online sales. The advantage of Advantage Processors (sorry for the pun there) is that they have an account, a system, for almost any business under the sun: If you're finding it difficult to get your merchant account, click through to see what they have to offer.

February 28, 2007 in paid blogging | Permalink

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