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Month: May 2018

Merchant Check Processing Services 2018

Merchant Check Processing Services 2018

Technology has a come a long way since physically depositing and processing paper checks a decade or so ago. Gone are the days when a merchant had to wait for days for checks to be manually processed. Merchant check processing has eliminated the delay by introducing electronic checks or e-checks, wherein traditional paper checks are turned into electronic transfer. With check processing services, e-checks are processed much more securely and with sophistication.

Merchant check processing services in 2018 has made check payment processing simple and more importantly, faster.

Merchants may consider accepting and processing payments via checks outdated in an era of credit card processing and payment gateways. However, it still is critical form of payment for many kinds of business and customers.  Before brushing off the idea and losing business, merchants should look at the payment options their competitors offer and what payment methods do the customers prefer.

Checks are still a relevant form of payment. Merchant check Processing services provide real-time authorizations and fewer hassles than traditional paper checks and save various trips to the bank.

With different types of merchant check processing solutions available, any kind of merchant can accept and present checks in numerous ways.

Automated Clearing House (ACH):

ACH is merchant check processing service that allows merchants receive payment directly from the customer’s checking account when the check is not present. ACH is a quick, low-cost solution for merchants billing customers on a regular basis or even if a customer is making one-time online purchase.

Point of Sale (POS) Check Conversion:

POS Check Conversion is beneficial for face-to-face transactions. Just like credit card processing, checks can be accepted and processed electronically with POS check conversion. POS conversion services provide the necessary tools for secure transactions. With the use of a check reader or imager connected to the terminal, checks are processed and deposited to your account.

Remote Deposit Capture (RDC):

Remote Deposit Capture technology allows a merchant to scan the check received into an image file and upload it for deposit. The task of manually depositing it at your financial institution is saved and instead the entire process takes place electronically. The RDC system can be designed to meet individual merchants’ requirements.

Image Cash Letter (ICL):

Image cash letter services are ideal for merchants with higher check transactions. ICL services have the ability to convert check information and customer data into a digital form of the check. These services allow merchants to process numerous digital checks together with associated data into a structured file which then is submitted in the form of an electronic deposit.

Accepting Checks for your business in 2018 –

Merchant check processing has numerous benefits, the obvious one being saving time. With checks getting transferred electronically, you don’t have to take frequent trips to the banks and wait for your check to be processed. Faster payment is made possible with check processing services.

If you are working from different locations, no matter where you deposit checks, your funds can be collected at your main account.

Yes, due to the increased popularity of credit and debit cards the frequency of accepting payments via checks and cash has reduced significantly. With check processing services you don’t have to turn away any customers. If you have determined that accepting checks is detrimental to your business, then you should carefully study the above mentioned merchant check processing solutions and pick out the option that best suit your business needs.

Posted on May 24, 2018July 16, 2019Categories ACH and Check Processing Services, Credit Card Processing, Merchant AccountTags ACH payment processing, check processing services, merchant check processing, UKLeave a comment on Merchant Check Processing Services 2018

How will an Offshore Merchant Account benefit your small business?

Offshore merchant accounts are commonly used these days. By setting up online businesses, merchants have to interact with customers across the world. Regardless of the size or type of online business, merchant accounts and credit card processing services is a must for each one of them.

Various financial institutions offer different types of merchant accounts. Among them, offshore merchant account is most commonly used by E-commerce merchants. One of the benefits of offshore merchant account is that it does not require huge initial set up cost which makes them popular with small businesses in particular.

Different merchant account providers offer different setup charges. But most of them charge zero for initial set up which is a huge benefit for small businesses.

Offshore accounts obviously operate outside your own country and since you would be out of the tax regulation laws of your country, you will be exempted from paying taxes. For small businesses and even online business start-ups, the reduced burden of additional costs is a huge relief.

All types of businesses, whether large-scale or small-scale, can be victims of frauds and scams. Start-ups and small businesses especially cannot afford to be tangled in frauds and losses. Unfortunately, these merchants are more vulnerable and can be conned easily. This makes offshore merchant accounts hugely beneficial as merchant account providers take necessary steps for the safety and protection of their clients from online frauds.

Businesses with offshore accounts have to deal with transactions done with different currencies and all kinds of credit cards all round the world. This translates into higher chances of expanding your customer base. Along with clever business operations, these small businesses have the potential of boosting sales and profits. For small businesses that do not have to invest much into these accounts, this is a massive growth opportunity and benefit.

Posted on May 24, 2018November 21, 2018Categories Business services, Merchant Account, offshore banking, Offshore Merchant AccountTags international merchant account, offshore bank account, Offshore Merchant Account, open an offshore merchant account, UKLeave a comment on How will an Offshore Merchant Account benefit your small business?
Advantages of an Offshore Merchant Account

Advantages of an Offshore Merchant Account

Advent of technology bought about a meteoric rise in e-commerce and online business models. Now, daily online credit card transactions have become a norm.

E-commerce merchants are more likely to be exposed to stricter rules and regulations. However, there exists an option for business that operates business across the world to legally position itself in a jurisdiction that favors it the most. Simply put, an offshore merchant account is an account that allows a business to accept credit card payments through a bank that is located in a jurisdiction outside the country where the business operator lives and works.

Offshore banking is even popular with some of the biggest global companies such as Apple and Google who set up offshore subsidiaries in low or no tax jurisdictions and serve different segments of their global market.

Merchants are now taking advantage of the various benefits that an offshore bank account has to offer. The possibility of expanding business and reaching a world-wide customer base possibly being the biggest positive factor. So what exactly makes offshore merchant accounts so favorable instead of a domestic merchant account?

Let’s take a look at some of the advantages –

  • Wide selection of banks
  • Hassle-free process and Quick Approval
  • Multi-currency transactions
  • Low or No Tax burden
  • Tax-free offshore profits
  • Major credit cards are accepted
  • High volume transactions are allowed
  • Easy approval of high risk businesses
  • Real time updates available
  • Safe and secure payment gateways that can be easily integrated with your e-commerce business

Any astute merchant will surely want go offshore and reap the many benefits that an offshore merchant account has to offer!

Posted on May 18, 2018June 12, 2019Categories offshore banking, Offshore Merchant AccountTags international bank account, offshore bank account, Offshore Merchant Account, UKLeave a comment on Advantages of an Offshore Merchant Account

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