What is Zero Cost Credit Card Processing?

Zero Credit Card Processing – Credit Card Processing fees are applied as a cost of managing the exchange of money from customers account to the merchant’s account in a secured manner.

However, it is not like the merchant is not paying anything entirely. Because there are still other charges to be paid by the merchant such as :

PCI Compliance

Monthly Fees

And many more.

Generally, these plans are designed in such a manner that the processing fees are reduced to “zero” or “no cost”. However, all the other charges are increased by a bit.

What Does It Cost To Your Customers?

• The charges are generally set to 4% or less for the customer as the surcharge of no-cost credit card processing of merchant.
• Also, customers are generally charged dynamically and the range is between 3.45% to 3.65%.
• However, this is not any kind of hidden charge and your customer will see the surcharge in the receipt on their purchased goods and services. And in such situation, a customer can feel like being charged more than he/she should.
• No customer wants to pay extra for any goods and services and if this is the case with you then you can lose customers.

What To Do Next?

As the merchant, the first thing you should do is check your competitors. If most of your competitors are using the surcharge method to get a minimized credit card processing, then you can also use this method for your business.

However, if your competitors are not into “no-cost credit card processing” then you should also reconsider your payment methods. Applying surcharges to your customer results in loss of customers.

In such a case, you can try other methods that can help with the reduction of credit card processing charges. Also, you can contact an expert to help you choose the ideal credit card processing method for your business.

We, at Merchant Stronghold, provide you with an expert who will customize the perfect deal for you depending on the industry your business is in. Contact us at the toll-free number +1 (888) 622 – 6875 and get the required services that you are looking for as a merchant. We also offer assistance regarding high-risk payment gateway and merchant account services.

Why Merchant Account Important for your Travel Business

If you run a travel agency as the tour operator, or hotel operator planning to the same then you must be excited by the opportunities in High Risk. Before start receiving online funds, you must setup payment gateway for your merchant account. Your online payment gateway basically makes it possible for your customer’s payment to reach the merchant bank’s processor.

OVERCOMING HURDLES | WHAT YOU CAN DO TO GET MERCHANT ACCOUNT

Find consultants who specialize in the helping high-risk merchants finding a merchant account.

We at merchant stronghold provide you the same.

If you have a good record of risk, fraud, and charge-backs, you will be required to provide at least 6 months of prior financials to prove it.

If these processors receive any hint that you are high risk, there is a chance that the merchant account will get a termination.

A common mistake that everyone does is to find big banks and merchant account, providers.

The best side of this is that if you can provide financial statements of 3 years, you will have more leverage to negotiate a better deal.

Startups with a weak or non-existent record, you must accept a very well relationship.

Develop and put into action a strong fraud prevention plan. Introduce new tools that will help you detect and fight fraud.

These actions will be enough to get a merchant account for your tour and travel business. Just because of rejection for a merchant account before, doesn’t mean you will not get approval again.

When it comes to your business plan and financials, providing complete transparency is a great way to build trust. Your business model matter, it will work to not only survive in the current market but also thrive.

It is necessary for you to choose the best merchant account provider to better your newly founded organization. You can reach us at +1 (888) 622-6875 or email to info@merchantstronghold.com

What are the Common Complaints of Merchant Account

In this article, we have listed the Common Merchant Account Complaints and the tricks to avoid such issues in your organization. This article can help you look at both potential risks and rewards of working with a given company.

Poor Customer Service

Now your business and payment processing system cannot be perfect every time. And customer faces an issue with the management. At those times, it is the responsibility of the customer service team to provide the demanded attention to a specific topic.

In such a case, you need to stabilize your customer support service.

Tracking your product and customer reviews should be evaluated.

You should take some time to minimize the customer waiting time.

And nobody wants to listen to the automated answering service.

Cancellation Issues

This is one of the frustrating Common Merchant Account Complaints faced by the customers. Many times we order a product or service by mistake. In that case, you immediately try to cancel the order on the company’s website.

It is difficult to distinguish between the mistakes and the frauds for a merchant.

But if your enterprise makes your customer go through a lot of trouble while canceling the order then your business is under risk.

Moreover, it could lead to unnecessary Chargebacks.

Solidify the rules around the replacement and return of order.

And make sure you provide smooth payment processing to your customers.

Misleading Sales Practice

This is one of the worst sales practices. If you wish to lead a long profitable business then never apply such things to your business.

Some merchants try these petty methods to increase sales.

But the customer with one bad issue can report the business of this unethical practice.

For a merchant, sales are very important and to increase sales they try every method.

Advertise your product as it is.

Train your sales agent properly and tell them the customer satisfaction is always the priority.

And if you offer some discount then make sure you clear out the terms and condition to the customers properly.

Set your Price According to your Market

Every merchant wants to earn the profit and for that, they introduce attractive offers with their products while other products are not easily available. In the latter case, sometimes the merchant asks for a really high price that is not according to the product market value. These issues lead to greater trouble for the merchant in future that makes it to one of the Common Merchant Account Complaints.

Disclose your entire price before the customer purchases the product.

This generally leads to customer backing out for the purchase.

Do not add additional charge at the time of payment.

Many merchants are reported of such practices and immediately eliminated from doing any further business.

We provide customized support to the high-risk merchant accounts and credit card processing. Call now or visit the website at app.merchantstronghold.com

Accept American Express Card For Your High-Low Risk Business

You can say American Express as Amex. It is a multinational financial service that also happens to be a popular card network. Along with that, American Express Merchant Services is a division of the Amex that works with merchants to process the various transactions in their business.

Amex operates as both card issuer and acquirer which results in slightly different rules for the merchants if you are comparing with Visa or MasterCard.

Just read the following article which helps you to understand the American Express Merchant Services before getting them.

AMERICAN EXPRESS FEES & RATES

The first question most of the merchant asks before getting merchant services is often related to fees. The prices set for the Amex are transparent and follows a robust plan.

Also, American Express is continuously working to promote small businesses with their new ventures like opting Blue Merchant Services.

In exchange for the payment processing network, American Express charges fees. However, the breakdown of these charges can be too much for users sometimes to understand. To understand these charges, you can simply contact the American Express Customer Services and ask for the details.

AMERICAN EXPRESS CHARGEBACK DISPUTE

When going for the American Express Merchant Services, you should gather as much information related to chargeback as possible. As we discussed the chargeback reason code for the Amex are different than the other card networks.

However, a merchant should know about chargeback and related rules if the Amex card is going to be used in the business.

Study the various reason codes of the American Express and get as much information as possible. Unlike Visa and MasterCard who outsource merchant services, American Express manages most of their services inside.

Therefore, you should expect transparency with their fees structure and their performance as well.

Technical Support Team 

As we said, Amex handles most of their service in order to offer comfort to their users along with the complete trust in the brand. Also, American Express is known to offer great customer service to their users. And the same criteria are applied to the American Express Merchant Services.

In case you are still confused then feel free to contact the Merchant Stronghold and get all the information regarding the Amex and their services. For that, you can place a call at the toll-free number i.e. +1 (888) 622 – 6875 or simply try the 24/7 email support.

Few Effective Tips to Reduce Shopping Cart Abandonment

Reduce Shopping Cart Abandonment – Shopping cart abandonment is a real issue for e-commerce merchants. According to recent statistics, as much as 70% of the customer leave the cart before making a purchase in an online store. It can be due to multiple reasons or just one that makes the customer lose interest in your product and leave without buying.

But you should not worry, there are some effective methods that would help reducing cart abandonment percentage. Even a small percentage can make a huge difference. This article will provide you with such details. Also, feel free to get in touch with an expert at Merchant Stronghold if your situation is a bit serious and you need an instant difference in your ROI.

1. REDUCE CHECKOUT STEPS AND CLICKS

Make sure your check out procedure is smooth that doesn’t include suspicious extra steps. There is a high chance that customer may change his mind if the checkout takes a lot of steps.

Tips to Reduce Checkout Steps to Further Reduce Shopping Cart Abandonment:

Also, given the option to add postal address details along with other required personal information.

Ask the customer to Sign Up or Sign In before going for the shopping.

Give an assurance of safety of the user’s information.

Offer guest purchase without signing up, as you cannot force a customer to create an account with you.

Doing all these will reduce the checkout time for the customer as the customer is not required to enter personal details at the time of the purchase.

2. ENSURE THE SECURITY OF PERSONAL DATA AND PAYMENT INFORMATION

Security is very important when it comes to online shopping. When you are asking your customer to enter their personal data, they are going to be a little hesitant. It is the responsibility of the merchant to build the trust and safe environment for the customer to make the payment.

For that, you can add trust logos to your shopping platforms along with the security. Also, make sure the trust logos are clearly visible to the customers.

For more such tips, feel free to contact the experts at Merchant Stronghold. You can try the toll-free number i.e. +1 (888) 622 – 6875 or the 24/7 email support. We also provide assistance for a high-risk merchant account, offshore merchant account, and merchant gateways.