Credit Card Processing and Merchant Services Resources

Turn Future Credit Card Sales Transactions into Cash For Your Business Today!

2009-10-01T10:38:00.011-05:00

If you’ve been rejected for a business loan, you should consider a merchant cash advance from BankCard Central. We provide quick access to capital without the hassles of a traditional business loan.

The application process is simple and absolutely free. Best of all, you can start receiving cash within 3 to 5 days.

Here’s How it Works:
We purchase a fixed dollar amount of your future credit card sales at a discount. Then, through an automated process, we retrieve a fixed percentage of your credit card sales as they are batched and settled. That fixed percentage is retrieved for the duration of the funding period. You get your money in a lump sum and we get paid as you get paid.

How Much Can You Get?
Merchant cash advance amounts are based on your average monthly credit card sales and need for capital. Funding amounts will vary based on these factors. To find out what your payments would be, use our Cash Calculator.

Who Can Qualify?
Qualified businesses are those with solid monthly credit card sales. You must have at least 4 months of credit card sales that show a minimum of $4000 per month.

Merchant Cash Advance Funding is Perfect For:

Business Expansions
Remodeling
New Equipment
Inventory
New Marketing and Advertising Campaigns
Taxes
Partner Buyouts
Meet Unexpected Expenses
Seasonal Slow Downs

Helpful Tips for Businesses to Prevent Credit Card Fraud

2009-06-16T09:36:00.003-05:00

Do not allow a transaction to be authorized unless the customer gives you a valid expiration date for the credit card.

Follow up all card not present transactions with an email to the customers account or with a telephone call.

Red flags for fraudulent purchases include: bulk transactions, first time shoppers, big ticket items are being purchased, rush delivery, shipping is requested to a different address than the customer or the shipping address is listed as an overseas address, large purchases are being made with numerous credit cards and shipped to a single address, separate purchases are being made but they are coming from a single Internet Protocol address.

The customer should be required to give you the three-digit number on the back of the card. This will ensure that the purchaser has the card in his or her possession.

Helpful Tips for Consumers to Prevent Credit Card Fraud

2009-06-16T09:33:00.004-05:00

You should save all of your credit card receipts. Each month when your bill comes in the mail you should go over it thoroughly. Check to see if there have been any purchases made that you did not approve. If you find any suspicious purchases, you should contact your credit card company immediately.
Keep in mind that a criminal does not have to be in possession of your card to make fraudulent purchases. A criminal can obtain your credit card information and make card-not-present transactions by just knowing your credit card number. You should always shred or burn your credit card statements. To protect yourself even further, you should always keep your bills and credit cards in a safe place away from the eyes of anyone who enters your home.
Be patient when you are making card not present transactions. Most businesses are now requiring that you give additional information when you make purchases to ensure that you are indeed the cardholder.

Consequences From Chargebacks

2009-06-12T10:34:00.003-05:00

There are several consequences a business can face for receiving too many chargebacks:

Lost Product
Chargeback Fees
Fined by Card Associations
Placed on Association Monitoring Program
Loss of Merchant Account
Terminated Merchant File

How many chargebacks are too many?

Visa®: more than 100 chargebacks with chargebacks in excess of 1% of total transactions.

MasterCard®: more than 15 chargebacks with chargebacks in excess of 1% of total transactions.

What are the Fees for Chargebacks?

A chargeback handling fee is associated with each chargeback. This is a processing fee for handling the chargeback and/or subsequent re-presentment. The fee is not a penalty or a declaration that a merchant is right or wrong.

Preventing Chargebacks

Most chargeback situations arise at the point of transaction—at the time the transaction is completed—and most online payment fraud can be prevented with a little training and prevention methods.

Chargebacks

2009-06-11T13:24:00.005-05:00

A chargeback is a procedure whereby a card holder or the card holder’s bank disputes transactions put onto a credit card.

What is the Process of a Chargeback?

The merchant's account is debited along with any contractual chargeback fee(s) and the merchant must provide proof that the transaction is valid and satisfactory to the rules and regulations of Visa® and MasterCard® to get money back.

Bank or processor receives a chargeback from the issuing bank.
Bank or processor mails notification of chargeback to the merchant, and the amount of the chargeback plus a handling fee (deducted from merchant’s settlement account). If more documentation is required to clarify the chargeback, then it is sought from the cardholder’s bank.
If a merchant feels that a chargeback is invalid, then the merchant may send his rebuttal and supporting documentation, in a timely manner. Typically the merchant is required to respond within 10 days of the receipt of the chargeback notification.
If the merchant has a valid rebuttal, then the Bank or processor re-presents the item to the issuing bank and reclaims the funds for the merchant.

Credit Card Processing Rates and Fees

2009-05-21T12:01:00.001-05:00

If you have a business and you are thinking of accepting credit cards for payment, you may have some questions about the cost and breakdown of credit card processing. You may be confused by the fees and credit card processing rates, but do not let that stop you from accepting credit cards. By accepting credit cards, you give your customers an easy, convenient way to pay, but it also will help you increase sales.

The first step in the process it to understand the merchant accounts. There are two different types of merchant accounts with up to 7 subcategories. It is imperative that you sign up for the correct merchant account to get the correct credit card processing rates.

If you are a retail merchant, you may qualify for the retail merchant rates. This account offers the lowest discount credit card processing rates. They also offer low cost fees, but you must have a business that swipes 80% or more of the credit card transactions through a terminal.

If you are a mail order merchant, you will not be swiping actual credit cards, but processing them over the phone or though the mail. The Mail Order Merchant Account requires that you do most of the credit card processing through a keypad of a credit card terminal. The mail order rates can be as low as 1.89%. If you have an Internet business, be sure to check out the Internet Merchant Account. That is the account for online business owners and also offers credit card processing rates as low as 1.89%. If for whatever reason, you take credit card numbers, but process them later, you will need the Store and Forward Merchant Account.

With all the different types of merchant accounts available, it is necessary for you to find out which one is the proper one to use to make sure you get low cost fees and low credit card processing rates.

Credit Card Processing for Gun and Firearms Dealers

2009-04-30T17:13:00.000-05:00

In the past, several credit card processing companies have rejected federally licensed firearms retailers, distributors and manufacturers and refused to process credit card transactions. Some processing companies have even shut off firearm seller’s merchant accounts and held their money. The only way, that they will approve a gun or firearms dealer for credit card processing is if it is for face to face firearms sales.

BankCard Central still gives gun dealers and firearms dealers a chance to accept credit cards and sell their firearms thru their ecommerce website, or online store. BankCard Central has put together a website full of resources for gun and firearms dealers to help the process of accepting credit cards online or in your retail store go as smooth as possible. You will find documentation requirements, website requirements, FAQ’s and much more to help you sell your guns and firearms online today.

Start accepting credit cards today! Find out more about Gun Dealer Credit Card Processing.

Conficker Worm Targets Microsoft Systems

2009-03-31T10:51:00.004-05:00

From Microsoft

"Win32/Conficker is a worm that infects other computers across a network by exploiting a vulnerability in the Windows Server service (SVCHOST.EXE). If the vulnerability is successfully exploited, it could allow remote code execution when file sharing is enabled. Depending on the specific variant, it may also spread via removable drives and by exploiting weak passwords. It disables several important system services and security products and downloads arbitrary files.

Microsoft strongly recommends that users apply the update referred to in Security Bulletin MS08-067 immediately.

Microsoft also recommends that users ensure that their network passwords are strong to prevent this worm from spreading via weak administrator passwords. More information is available here."

[Full Details]

Internet Crime is on The Rise

2009-03-31T09:02:00.004-05:00

According to the Internet Crime Complaint Center or IC3 internet rip-offs and scams are up 33% compared to last year. Bringing the total loss from these crimes to $265 million. Which brings 2008 to $26 million more than 2007. On average, an individual victim lost about $931.00.

The top three most frequent complaints were:

Merchandise not delivered or payment not received
Internet Auction Fraud
Credit/Debit Card Fraud

Other scams include:

Confidence Frauds also known as Ponzi Schemes
Check Fraud
Nigerian Letter Fraud
Identity Fraud

One of the most popular identity fraud scam during 2008 was the emails that appeared to be fromt the FBI.

The report said that about 77.4% of perpetrators of internet fraud were men. About half live in either California, New York, Florida, Washington, Texas or the District of Columbia.

More than 55 percent of those who filed complaints were men.

[Read Full Story]

Merchant Account Services

2009-01-09T09:49:00.002-06:00

WHAT DOES YOUR BUSINESS NEED TO SUCCEED?

Discover BCC Webcenter's Easy E-Commerce Solutions: a combination of a feature rich authoring tool, and a hosting service, our user interface includes an in-depth site owner administration system. There is no software to install, all you need is an ordinary browser. We host your finished site. You can purchase a custom domain name of your choice. Orders are accepted securely using industry-standard SSL encryption.

Accounts Receivable Factoring

2009-01-09T09:46:00.005-06:00

Sometimes, you don’t want to borrow money from a bank and make payments, particularly when you are focusing on your current cash flow into your business as it is. In cases like this, you should consider looking into accounts receivable factoring. Many people are not even aware of this process, and in most cases it is readily available if business owners will seek it out. Essentially, accounts receivable factoring is the selling of a business’ invoices for cash.

For out more about accounts receivable factoring.

Apply for a Business Cash Advance Today!

Alternative Business Financing

2009-01-09T09:42:00.000-06:00

It is the American dream to own a business. Many brand new entrepreneurs find themselves thinking up wonderful ideas and big plans for the future as a business owner. While a lot of people think big, it can be very difficult to follow through with these plans if they cannot get a business loan. Business loans are very hard to obtain, particularly for people who are just starting out and have little to no track record. There are quite a few requirements that banks usually have in order to grant large business loans. First, they want the business owner to already have been established for about 2 years prior to requesting the loan. Other requirements include having a high credit score, asking for less than $100,000, and the business owner must have collateral.

For more information visit Alternative Business Financing.

Business Debt Consolidation

2009-01-09T09:38:00.003-06:00

Many businesses find themselves getting into debts that they simply cannot handle. Not only does this happen to the average consumer, but companies often suffer from business debt as well. Fortunately, there are a great number of programs available that offer business debt consolidation. These programs will help you to assess what you as a business can afford in order to help satisfy your debtors, as well as help to work out a payment plan and possibly lower your business’ current interest rates. One of the most common problems with business debt is that the company ends up losing valuable assets and merchandise because they are forced to liquidate (sell these things for cash). Even bankruptcy can occur if they cannot settle their debts in a timely manner. With business debt consolidation, your assets are protected, saving you from the pain and embarrassment of forced liquidation.

Another plus when it comes to getting your business out of debt is the fact that by consolidating, all of these miscellaneous debts are combined into one lump sum. One simple, single monthly payment can be made, making accounting and keeping track of everything on the financial side much easier. In addition, business debt consolidation can allow business owners to rest easy and be able to spend more time on making important business decisions and deal with their daily operations. This can actually help your business grow, because you’re not using up valuable time talking to the bank, your accountant, or bill collectors. By consolidating debt, nothing is lost and everything remains in good standing, while you build a reputation of solid credit and honest repayment. In many cases, as hard as it may seem to believe, you may end up owing less over time than you would have originally when participating in business debt consolidation.

Data Security Bulletins for Malicious Software and USSS & FBI Fraud Alert

2009-01-08T13:54:00.004-06:00

The U.S. Secret Service and The Federal Bureau of Investigation has issued an advisory for Malicious Software. This advisory describes cyber attack methods used by intruders against financial institutions and what you can do to prevent risks of these attacks.

Please review all information to protect yourself and your business.

Free Internet Mail Virus Scam

2009-01-07T09:14:00.001-06:00

This information arrived this morning, Direct from both Microsoft and NortonPlease send it to everybody you know who has access to the Internet.You may receive an apparently harmless e-mail titled 'Mail Server Report'<> If you open either file, a message will appear on your screen saying:'It is too late now, your life is no longer beautiful. 'Subsequently you will LOSE EVERYTHING IN YOUR PC, And the person who sent it to you will gain access to your name, e-mail and password.This is a new virus which started to circulate on Saturday afternoon. AOL has already confirmed the severity, and the anti virus software's are not capable of destroying it. The virus has been created by a hacker who calls himself 'life owner'.

http://www.snopes.com/computer/virus/mailserver.asp

"Koobface" virus turns up on Facebook

2008-12-05T13:37:00.003-06:00

By Jim Finkle
BOSTON (Reuters) - Facebook's 120 million users are being targeted by a virus dubbed "Koobface" that uses the social network's messaging system to infect PCs, then tries to gather sensitive information such as credit card numbers.
It is the latest attack by hackers increasingly looking to prey on users of social networking sites.
"A few other viruses have tried to use Facebook in similar ways to propagate themselves," Facebook spokesman Barry Schnitt said in an e-mail. He said a "very small percentage of users" had been affected by these viruses.
"It is on the rise, relative to other threats like e-mails," said Craig Schmugar, a researcher with McAfee Inc.
Koobface spreads by sending notes to friends of someone whose PC has been infected. The messages, with subject headers like, "You look just awesome in this new movie," direct recipients to a website where they are asked to download what it claims is an update of Adobe Systems Inc's Flash player.
If they download the software, users end up with an infected computer, which then takes users to contaminated sites when they try to use search engines from Google, Yahoo, MSN and Live.com, according McAfee.
McAfee warned in a blog entry on Wednesday that its researchers had discovered that Koobface was making the rounds on Facebook.
Facebook requires senders of messages within the network to be members and hides user data from people who do not have accounts, said Chris Boyd, a researcher with FaceTime Security Labs. Because of that, users tend to be far less suspicious of messages they receive in the network.
"People tend to let their guard down. They think you've got to log in with an account, so there is no way that worms and other viruses could infect them," Boyd said.
Social network MySpace, owned by News Corp, was hit by a version of Koobface in August and used security technology to eradicate it, according to a company spokeswoman. The virus has not cropped up since then, she said.
Privately held Facebook has told members to delete contaminated e-mails and has posted directions at www.facebook.com/security on how to clean infected computers.
Richard Larmer, chief executive of RLM Public Relations in New York, said he threw out his PC after it became infected by Koobface, which downloaded malicious software onto his PC. It was really bad. It destroyed my computer," he said.
McAfee has not yet identified the perpetrators behind Koobface, who are improving the malicious software behind the virus in a bid to outsmart security at Facebook and MySpace.
"The people behind it are updating it, refining it, adding new functionalities," said McAfee's Schmugar.

(Reporting by Jim Finkle, Additional reporting by Emily Kaiser; Editing by Toni Reinhold)

PCI Merchant Education - For the payment card industry, by the payment card industry.

2008-12-05T13:29:00.003-06:00

In our efforts to increase awareness and understanding of the Payment Card Industry Data Security Standard (PCI DSS), we present this complimentary merchant education initiative offered to our acquiring bank customers and their merchants.
The PCI Merchant Education Program provides a holistic view of the PCI DSS through a series of industry webinars designed to fit acquirer and merchant needs. MasterCard has worked with several leading industry security experts to deliver these insightful modules. Available on demand and by area of interest, the modules can be easily accessed at the viewer's convenience.

360 Degree View on PCI Webinar Modules:

Maximize Internal Preparation for PCI DSS
Network Segmentation
Data Encryption: Understanding Encryption and PCI DSS
An introduction to the PCI Security Standards Council
A Detailed Look at the PCI DSS Requirements
A Merchant's Journey Toward Compliance
Understanding Account Data Compromise
Preparing for a Successful PCI Assessment, Lessons from the Field
Reducing Your Risk: A Look into PCI Vulnerability Scanning
Security and the Payments System
Compliance Validation and Beyond
A look into the New Self Assessment Questionnaire

Go to the PCI Merchant Education Webinars: 360 Degree View on PCI

Visa Inc. Data Security Alert - Malicious Software

2008-11-10T12:25:00.012-06:00

Malicious software or “malware” is designed to damage or infiltrate computer systems. The following malware examples were recently identified through computer forensic investigations coordinated by Visa. A comprehensive list of malware and MD5 hash values can be found in the Table 1 attachment.

BP0.exe is a remote command shell “backdoor” that allows remote attackers to use the windows command shell to interact with the compromised server and run commands. This malware is hardcoded with a fixed IP address.

Wiadebyls.dll is a password collector that gathers user credentials as they are used. The malware then transmits those credentials to a hard-coded IP address using the HTTP protocol.

Wininet.exe is a packet sniffing program configured to capture payment data on the network.

Wuauclt.exe is a key logger program configured to capture keystrokes and payment data on a point-of sale (POS) terminal.

SN.exe is a packet sniffer. Other variants of this malware exist with the ability to filter and log activities.

Download the Visa Data Security Alert - Malicious Software.

CHARGE Anywhere® Enables PIN Debit on Spectra POS Terminal

2008-10-16T14:49:00.007-05:00

South Plainfield, NJ - October 16, 2008 - CHARGE Anywhere®, a leading provider of secure Point of Sale (POS) solutions and electronic payment services, is delighted to announce the ability to accept PIN Debit payments on the Spectra Point of Sale Terminal. This is extremely beneficial to the Small and Medium Merchant Business community by allowing them to process PIN Debit transactions without adding costly hardware.

Read more about PIN Debit transactions on the Spectra Point of Sale Terminal.

New Technology Focuses on Reducing Credit Card Fraud

2008-09-24T11:13:00.002-05:00

Technology is advancing and new innovations are being explored to help fight fraud. One of the newest technologies is replacing swipeable credit cards with cards that have a tiny computer chip within it. This new technology is currently in Canada, but if results are well received, it is only a matter of time before it is adopted in the United States. Apparently this technology is also utilized in Europe as well.

The credit card has a chip embedded in it rather than a readable magnetic stripe. During a purchase the customer inserts his or her card into a reader. A personalized identification number (PIN) is then entered into the reader by the cardholder and then the transaction is complete. There is no signature and the merchant or the employees do not physically touch the card.

This new technology is aimed at reducing fraudulent transactions.

Score One for the Good Guys!

2008-08-27T10:48:00.003-05:00

The largest hacking and identity theft ring in history has been identified and eleven people have now been charged with stealing more than 41 million credit and debit card numbers. The ring had three members from the United States and others from Estonia, Ukraine, China, and Belarus. This is a major event for Federal Prosecutors and Law Enforcement.

The hackers were able to identify weaknesses in a several major retailers’ wireless networks by a process called “wardriving”. TJX Cos (TJ Maxx), BJ’s Wholesale Club Inc., OfficeMax Inc., Barnes & Noble Inc., The Sports Authority Inc., Forever 21 Inc., DSW Inc., and Boston Market Corp. were all affected by this ring.

Read more about the largest hacking and identity theft ring in history.

11 Charged in Connection with Credit Card Fraud

2008-08-06T10:46:00.008-05:00

The Department of Justice announced Tuesday that it had charged 11 people in connection with the hacking of nine major U.S. retailers and the theft and sale of more than 40 million credit and debit card numbers.

It is believed to be the largest hacking and identity theft case ever prosecuted by the Department of Justice. The charges include conspiracy, computer intrusion, fraud and identity theft.

Story from MSNBC. Case believed to be largest of its kind ever prosecuted by Justice Dept. for credit card fraud.

VerePay Secure Internet Payment Gateway

2008-08-05T13:05:00.002-05:00

Now you can accept payments online with absolute security. The VerePay Internet Payment Gateway allows online merchants to accept credit, debit and alternative payment transactions with the highest data security standards. VerePay is independently compliant with the Payment Card Industry Data Security Standards to protect sensitive cardholder data and merchant information.

The VerePay payment gateway has always exceeded merchant expectations with a major focus on reducing chargebacks and fraudulent transactions. It accepts all IP enabled transactions from any source including Internet, MOTO, retail and cellular initiated payments. With VerePay, you can run your business more effectively and take the worry out of doing business online.

VerePay can be integrated into your website, accounting system, CRM system or IVR system for single transactions or recurring payments and billing services. We make the entire integration process easy and hassle-free.

Read more about VerePay's payment gateway features.

Skimming Credit and Debit Cards at the ATM Machine

2008-08-05T12:48:00.003-05:00

It is a fact that crooks are getting smarter and more technologically advanced than they used to. As we move with the times and rely more on technology, crooks are learning how to get around the technology to obtain our information and abscond with our money.

Skimming cards seems to be the most advanced technology to steal credit and debit card information from an unsuspecting victim. An article from Money Central on MSN.com quotes Jay Foley, the executive director of the Identity Theft Resource Center in San Diego, on his own use of ATM’s or any payment slot. The first thing he does before sticking in his card in the ATM machine...

Find out more about ATM Machine Card Skimming.

Fraud Doesn't Pay in Restaurants

2008-07-08T11:43:00.007-05:00

Fraud seems like an easy way to make a quick buck, but the following fraudsters found out the hard way that crime doesn’t pay...

A recent article in the Pasadena Star News reported that an employee of Pasadena Water & Power pleaded no contest to one count of credit card fraud and other charges that included: petty theft, identity theft, and attempted grand theft. The employee, identified as Rhonesia Bass, was employed as a customer service representative for Pasadena Water & Power and her job was to accept credit card payments for utilities over the phone. She obtained credit card numbers from six customers and then used the credit card numbers to purchase personal items online as well as paying a friend’s utility bill.

Read more "Fraud Doesn't Pay in Restaurants"...

Credit Card Processing and Merchant Services Resources

Turn Future Credit Card Sales Transactions into Cash For Your Business Today!

Related Topics:

Helpful Tips for Businesses to Prevent Credit Card Fraud

Helpful Tips for Consumers to Prevent Credit Card Fraud

Consequences From Chargebacks

Chargebacks

Credit Card Processing Rates and Fees

Credit Card Processing for Gun and Firearms Dealers

Conficker Worm Targets Microsoft Systems

Internet Crime is on The Rise

Merchant Account Services

Accounts Receivable Factoring

Alternative Business Financing

Business Debt Consolidation

Data Security Bulletins for Malicious Software and USSS & FBI Fraud Alert

Free Internet Mail Virus Scam

"Koobface" virus turns up on Facebook

PCI Merchant Education - For the payment card industry, by the payment card industry.

Visa Inc. Data Security Alert - Malicious Software

CHARGE Anywhere® Enables PIN Debit on Spectra POS Terminal

New Technology Focuses on Reducing Credit Card Fraud

Score One for the Good Guys!

11 Charged in Connection with Credit Card Fraud

VerePay Secure Internet Payment Gateway

Skimming Credit and Debit Cards at the ATM Machine

Fraud Doesn't Pay in Restaurants