Credit Card Processing

A merchant account is basically a contract between a bank and the merchant which allows the merchant to get all the transactions made while buying their products in return of a reasonable fee to the bank. The acquiring bank or the financial institution provide his credit to the merchant, then process the customer’s credit card information and finally approves the transaction. 

Sometimes the banks don’t extend their services directly to the merchants and in such cases merchant account service providers deliver their services to such business owners. AMLSV is one of the leading merchant account providers which have been giving merchant accounts to many businesses. AMSLV has connections with large number of acquiring banks through which the merchant accounts applications are fast approved.  

How the payments are accepted or rejected? 

The transactions are done with the help of a payment gateway. A payment gateway is nothing but a place to pay for the items to be bought. It is similar to cash counter in retail stores. Many websites use the same payment gateway for accepting the payments online. The payment gateway can be connected with the shopping cart on the merchant account provider’s site. So, this way the payments done online are processed. 

After the order is placed by the customer along with the credit card information, the information is send to the payment gateway, which forwards it to the acquiring bank of the merchant. The bank further forwards the information to the card association, from where the information is send to the issuing bank of the card, which processes the balance available with the customer. Then the bank approves or rejects the payment made by the customer and also provides a valid reason for rejection. 

Many merchant account providers provide free credit card terminals and internet payment gateways and even free payment gateway software while others charge a low transaction fees. But the important thing is every e-commerce business should look for reliable and secure merchant account services.

AMSLV offers fraud-proof merchant account services for all types of business owners. We also offer PCI-complaint gateway through which you can keep a track of all transactions taking place and prevent chargebacks.

Need of overseas merchant account

But the problem arises when many banks refuse to provide merchant accounts. This happens with the businesses that are entitled high risk by the bank or merchant account suppliers. 

 

There are many businesses that are considered high risk by the banks. Some of them include adult entertainment websites, escort service providers, pharmaceuticals etc. It becomes difficult for the high risk business to get the merchant account especially in the case of a bad credit history or if the possibility of chargebacks is higher. 

Since all these businesses runs online and require an online portal to accept payments and working without a merchant account is something that seems out of the loop and can be even more problematic. 

For all such business, overseas merchant account is the best thing to look up to as these accounts provide solutions to the merchant account needs without imposing much trading restrictions. 

Why to opt for overseas merchant accounts?

Tax benefits:

If you have an overseas merchant account you will be barred from paying hefty taxes. You just have to pay a minimal amount incorporated in that particular area. 

 For example many gambling businesses that work for the UK clients have setup their business in Malta area to avoid paying heavy gambling taxes to the UK government. So, they just pay 1% tax to the Maltese government.

Easy to get merchant accounts

Businesses such as adult entertainment, subscription services or travel related business find it difficult to get the merchant account in their own country or area. Obtaining a merchant account is easier because it comes with less restrictions and more flexibility to work with.

Lower fees 

If your business has more customers in an overseas market then it is beneficial to have a merchant account in that area.

The reason is simple a domestic bank or merchant account provider would impose higher processing fees for an overseas transaction. Setting up merchant account in that country will cut extra processing charges. 

Increase in sales and higher profits

Since there is less processing fees and lower risk so chances of earning profits increases. As compared to a domestic bank which will impose a higher processing fee for an overseas transaction being made, overseas merchant account is a better option to go with.

Also having an overseas merchant account will fetch more overseas customers for your business and expand it globally.

 

AMSLV’s High Volume Merchant Account to boost your business

Getting the right type of merchant accounts is the most crucial step in earning profit and flourishing the business. The way a merchant account runs for a business, directly affect the performance of the website and it is essential that the merchant accounts runs smoothly.

AMSLV does understand that when it comes to money, people are more cautious and they want nothing to go wrong. Every business model has a different kind of merchant account and the kind of account required may vary due to nature of the business or volume of the business. Generally, big businesses go in the high volume merchant accounts and such accounts either have no limits or have very high limits when it comes to the number or transactions.

Advance Merchant Systems have extensive experience in providing high volume merchant account to some of the most reputable businesses around, and the company does understand that when a business deals in large volumes or number of transactions, the merchants cannot afford to go wrong with the accounts they choose.

If your business has good credit card processing history, getting the high volume merchant account is quite easy. By following the three simple step procedures, you can easily acquire the merchant account for your business:

1.    Contact or talk to our high-trained team of expert that will provide you every single detail you need.

2.    The team will also list down the best banks for business.

3.    As soon as the bank approves you a merchant account, the team will make sure to start the webpage in couple of days and providing desired payment schedule for regular and continuous payments.

The company makes sure to provide you an unhindered technical support and assistance at every point and will make every effort to keep your account running without any hitches and glitches. AMSLV also provides the benefit of real-time processing which in further will add more advantages and benefits to the business.

If you are planning to open a high volume merchant account make sure you reach us on 855-267-8472 or email us on info@amslv.com.

How a Recurring Billing Merchant Account Can Help Boost Your Small Enterprise

Recurring payments are an option that allows customers to make payments automatically at regular intervals. More precisely, it's paying a specific amount on a periodic basis for an ongoing product or service. They can be used in a variety of situations, from monthly subscriptions and leasing arrangements to paying electricity and telephone bills.

Recurring billing is frequently associated with debit orders or direct debits.  However, credit and debit card recurring billing provides the same monthly collection along with other amenities such as real-time approvals faster funding and global sales reach.

Recurring billing solutions are a great way to increase customer retention, improve checkout experience and grow customer loyalty. At the same time they automate payment processing and reduce operating costs to make your business more cost effective. For smaller business looking to grow, recurring payments provides a platform for expanding their reach and bringing in more customers.

Some of the benefits of opening a recurring billing merchant account include:-

• It meets the demand for payment card options
• Improves  cash flow and business forecasting
• Reduces default and improves collections
• It builds customer loyalty, retention and improves customer service
• Offers flexible payment schedules of weekly, monthly or annually

While operating the recurring billing merchant account, the following steps need to be kept in mind-

Select a Recurring Billing Solution

An application or interface is needed to manage clients and recurring card billing. Payment Gateways offer an online interface that allows merchants to manage their recurring clients. You can also use a software package where you will need to make sure that it works with a payment gateway as the card transaction still needs to be processed to the bank.

Introduce the Recurring Payment Option to Your Customers

Customers will understand what a recurring payment is so you won’t have to explain to them how it works but you will want to inform them that the payment will be recurring and to notify them of the set timing, frequency and amount.

Set Timing, Frequency And Amount

In order to set up a recurring payment, you will need to include schedule start date, billing frequency, scheduled end date, first payment amount and subsequent payment amounts.

Process Payment Information

In order to process a recurring payment, card information is required to be captured.  Payment Gateway’s offer tokenization solutions that allow the card information to be replaced with a token so that for subsequent transactions only the token and value are required to be submitted.

All over the globe, businesses are becoming aware of the benefits associated with having a recurring billing merchant account. Consumers prefer to have recurring credit card billing as a payment option and many businesses have either implemented or begun the process to implement recurring payments. Some of the business that have benefited extremely from recurring payments are those in the fields of membership and subscriptions, insurance services, digital services and telecommunications, internet service providers (ISPs) and digital gamers, real Estate and utility companies, educational and municipal institutions, medical and health service providers amongst many others.