iPhone Merchant Accounts

Merchants can now do business everywhere and at anytime with apple iphone and iPod Contact apps that process credit cards. You will find apps for apple iphone and iPod Touch owners who need to have to generate a sale outside of a classic store environment. Merchants can now do business everywhere, anytime with out having to rely on a phone line or credit card processing machine.

Most merchant accounts can connect to these apps via a gateway like Authorize.net.

Consumers can also make arrangements via PayPal on your iphone or iPod Touch. Regardless of which financial institution supplies your merchant account, both accounts will be linked in order that incoming funds are automatically transferred in your financial institution accounts.

Be positive to check out what the total operating costs are for the app's service. Merchants will need to think of the price per transfer as well as the possibility of monthly fees. Some apps will have a month-to-month or binding contract agreement. This fees are usually in addition to your regular merchant account fees.

The standard elements that you just ought to search for in an app are the potential to make charges, supply refunds and render transaction void. Becoming in a position to location a hold about the card could be beneficial likewise. Every application's Web internet site will list its elements in detail.

Some apps have a gratuity function and can collect a customer's signature. iphone apps like ProcessAway, iSwipe (which is donate-ware) and iMerchant Pro allows customers to crucial in a customer's bank card details and track the payment. They also send receipts via e-mail as soon as the payment is authorized.

You'll need to choose an app which has security functions that should not shop individual data onto your iphone or iPod Touch whilst undertaking small business. SSL encryption will also establish trust together with your consumers to ensure they really feel confident about generating a buy.

How Can You Tell If a Merchant Account Company is Good?

I have business owners asking me this question all the time, how can you tell if the merchant account vendor you are getting a quote from is a good company or not...?

Just like most business decisions you should always firstly listen to your gut. If you feel uneasy or pushed by a sales rep for any reason or you feel that the potential provider is not being 100% up front with you then find someone else.


Here is a list of some check marks you'll want to make sure are being hit:

1. A good company will ask you questions about your business and make sure they setting you up with the right payment processing solution. A bad one will be pushing for the sale and not asking questions.
2. Cheap prices are usually synonymous with cheap quality and/or poor services. The old expression of "you pay for what you get" really is true. I would do a little research to find out what the current buy rates are from Visa and Master Card online. Just type in visa interchange or master card interchange to find out what the credit card processor is buying the rates at. If the rates they are quoting you are way below that rate then you know something must be wrong. They must be back ending you with tons of hidden fees to make up the difference because no merchant account company is looking to become an investor in your business.
3. A good company does not hide their fees nor makes excuses for them. They will be more focused on services and providing customer support. Look for social proof, testimonials, referrals, ask other business owners who they use, jump on business forums and ask people who have similar business as yours in the general area or region you are in who they are using and are they happy.
4. A good company will openly give you their tech/customer support phone number for you to call at anytime you want to test out their services.

If you tick off those four questions before choosing a merchant account provider you should be in good hands.

Do You Run a Co-op Type Business and Need Merchant Account Services?

It is common for some business types to be set-up like a co-op where a group of services providers like hair stylists or massage therapists etc. will come together in one location and split costs on the store space or clinic office space.

The problem occurs when it comes to getting merchant account services for these types of businesses because typically most merchant account providers in Canada will not allow several different business accounts on the same terminal.

Some of these co-op type businesses can have as many as 6 - 10 people in all sharing one location. Nobody wants to see a barrage of 6 different Point of Sale Terminals all lined up at the check out desk, nor do the technicians want have the expenses of each having their own payment processing solution.

What can these Co-op type of businesses do?

Well, many Point of Sale terminals now have the capability to be set-up with clerk I.D.'s, which can track each person's sales, tips, cash back, etc. Although there can still only be one business account associated with the merchant account this essentially would simplify the accounting.

One brave soul at the Co-op could sign-up for the merchant account and then they could write checks to the other technicians on a weekly or bi-weekly basis minus the costs associated with the merchant account services. This way the costs are kept down for everyone at the Co-op, there is only one Point of Sale Terminal, and the Co-op doesn't have to worry about losing any sales by not offering debit and/or credit cards as a method of payment.