Archive for November, 2009

In spite of the world economic slump, the sustained development of multi-channel retailing entails that the business houses or services are persistently supplying their customers in keeping with their promises and orders. With vendors trying to bring their sales to the optimal levels and supplying endless services, there arose the necessity of a flexible and safe mode of payment that supports both the vendor and client. This gave birth to the E-Wallet solution. Just like one has a wallet to keep cash, E-Wallet holds cash for online transactions. It is not very cumbersome to go about getting E-Wallet processing

There are three main reasons to get E-Wallet account processed whether you are a merchant or a customer. a) It is far simpler to transfer money to manifold sites using E-Wallet. b) E-Wallet account helps to instantly transfer money from a particular site back into the E-Wallet. C0 Many sites refuse to allow the use of credit cards.

E-Wallet processing enables the customer to create secure account to keep their credit and debit card details. Once E-Wallet account has been processed the individual only needs to enter the postcode and the three digit security number that are not stored in the E-Wallet.

There are a number of providers who offer E-Wallet processing for both vendors and consumers. Consumers can get their E-Wallet processing done through the many financial organizations, specialized merchants or certain technology providers. For the vendor or the retailer who have a high volume of online business transactions E-Wallet is imperative in order to conduct their business smoothly and successfully.

The cost of processing E-Wallet varies from processor to processor and one has to scrutinize the processor carefully before selecting one that suits your requirements. Ensure that the one you decide has been in the industry long enough and are reliable.

E-wallet payout processing generally takes about three to four days which is comparatively faster than the time taken to process credit and debit cards. Many people utilize e Wallets for gaming sites, so such people should ensure that the sites they use are in the list of the providers as there are many rules that have been imposed by the E-Wallet providers who process your account.

E-wallets are becoming the most popular option to consumers of today. One can select their means of funding their e-wallet in order to make on the spot money transfer and E-wallet providers must necessarily be regulated and officially accepted by the governing financial regulatory board.

Adult Merchant Services are those solutions that earn money through the business of adult websites. As you can well imagine online business that has anything to do with adults is considered a very risky affair and such business owners are not permitted to receive their payments through the national banks. Adult Merchant Service accounts differ totally from the various other merchant accounts. As a result of the risks involved a majority of the merchant account operators steer clear of the Adult Merchant Service business owners.

This is when adult merchant account plays an important role and is the best way out for those who own this kind of business. Processing of credit cards is the ideal solution for those in the adult business and assisting tthem to take their trade on to a different level. Reliable and authentic means of receiving payment draw a good clientele and the anti-corruption software ensure that the webmasters are suitably safeguarded. But it is pretty difficult to get hold of adult merchant services in many places.

There are two chief modes of payment in the adult merchant services. They are:-

• The monthly  payment mode when the membership fees are paid on a monthly basis thus ascertaining a steady flow of money, and
• The One-off fees where the full payment is made in one go and this in a way aids the business owner to construct a decent customer base.

Both the methods of payment have their pros and cons and in the early stages of business it would be a good idea make use of both modes of payment and those who provide accounts for Adult Merchant Services generally allow the trader to utilize both methods so as to increase their income till they have recovered the money invested. This is when the solution providers urge the merchants to create a merchant account to make payments through the credit card process system.

But the merchants have to pay through their noses to the account providers and the rates even go as high as 20%! This makes a dent in the vendor’s business and the only solution choice left to the vendor is to decrease his profit margin.

Taking all this intro account the Adult Merchant Services vendor should do good research on the internet to select an account provider that panders to all his requirements. With the advent of the internet there is no shortage of account providers and those who are willing to provide Adult Merchant Services accounts do not really care about where the vendor’s business is situated and their disbursement is fast and very efficient and will offer accounts to adult service business without an inkling of doubt.

Check 21 is the cheapest, fastest and safest means of meting out check payments. When using check 21 facility, dealings are cleared utilizing the exchange of check images from bank to bank. Most of the high risk merchant service providers make use of this latest facility so as to hasten payments hence High Risk Check 21 processing is becoming the order of the day. People who write checks must necessarily be in the know of the Check 21 regulations.

Benefits of Check 21

• One has speedier access to money which means one receives payments faster resulting in quick flow of cash.
• Checkfile can be presented as late as 8 pm for clearing when compared to the time of ACH files.
• Low risk of scam – the shorter the time required for dispensation the safer you are from fraud.
• Online reporting system wherein a lot of reports can be gathered faster.
• Check 21 is cheaper and faster as vendors utilizing the remote deposit capture do away with umpteen number of trips to and from the bank, thus saving on cost of transport also.
• With the use of the remote deposit capture the manual process of preparing a check and the resulting errors can be reduced.

With the advent of the highly modernized Check 21 processing system, high risk merchant providers have found an exceptional option to the more restrained ACH rules.

High Risk Check 21 Processing is managed by certain laws regarding checks and the Uniform Commercial code that have nothing to do with the ACH rules. All the check 21 dealings are there when he receives the bank statement exactly in the same manner as they would have appeared if it were a paper check.

One very significant point that has to be kept in mind when writing out a paper check is to be very legible because when an electronic image of a check is taken, clarity is of utmost importance. This aids in steering clear of mistakes in the vendor’s account or his overdrafts. Also remember to keep a track of you check dealings and ensure that every check that is written is noted down.

Once vendors is armed with all the details of Check 21 he has to ensure that he sets up a High Risk Check 21 Processing account with a provider who will be dedicated  in learning the nuances of his business and suggest the best solution in accordance withy the vendor’s requirements. The vendor must ensure that he will receive excellent service, better processes of disbursement and rates that are greatly competitive.

Offshore is becoming the banking trend nowadays. Merchants are becoming more aware of the endless possibilities to reach a worldwide market. What lures them to divert from their local banks to opening up offshore merchant accounts?

Results of applying for an offshore merchant account are hours away. The application forms are available over the their websites so it saves time to scour for the avenues to submit your application.

Choices for competent banks are endless. We’re not only talking about US banks but foreign banks from countries drawn on the world map.

You can securely accept payments on your offshore merchant account through the advent of internet payment gateways. This also enables you to simultaneously take in payments in different currencies.

Deposits made into the account are updated real-time. Definitely suits your need for speedy and accurate information regarding your offshore merchant account.

You also have a worldwide reach to potential customers. Since you are operating on an offshore merchant account, marketing is also of global scope as well.

The saying,” Nothing is permanent except death and taxes”, applies to all, and, yes, to merchant accounts as well. But setting it offshore will definitely reduce your tax responsibilities. fees are reduced to a considerable portion.

Banking guidelines and policies are also a major turning point in offshore banks, they tend to be less strict starting from the application. They entertain virtually almost all inquiries from all over the world, regardless of past business performance or shaky credit rating. Criteria for approval are clear and concise that’s why you can expect for immediate results. Plus, they don’t require initial or security deposits compared to domestic banks. Expect results as fast as 24 hours and a week to set up the actual offshore merchant account.

Your options for the perfect bank to cater to your merchant account needs are limitless. They may be offshore, but these banks are established that’s why they have the resources to go international. Competition is less stiff than domestic banks. They adjust to your needs, you don’t compromise your merchant account desires.

Security is everyone’s concern. Offshore is not synonymous to hidden, the information is just located on foreign territory, still virtually open to verification. When you have an offshore merchant account, you can accept credit card payments over the internet. Once this happens, then you can actually sell your products online as well, thanks to the advent of shopping carts.

The products are displayed online and a payment gateway to purchase the product of the customer’s choice is next to the display. This payment gateway will ask for the credit card account number and then immediately process the transaction like a normal domestic credit card transaction. In a matter of minutes, the customer will know if the transaction was approved or rejected. The payments gateways have multiple security protocols but on a faster pace.

Access to your offshore merchant account information is also convenient. After passing critical verification, you can check on the state of your account round the clock. Thus, liberating yourself from waiting for business days to actually check on your account’s performance

Reduction of taxes become possible by using a separate offshore-incorporated company (your company) to handle your credit card business for you. Taxes are actually cut down by 15% and in some cases, to 0%.

The benefits you can get from the offshore merchant account bandwagon are countless. Once you’re in it, you’ll realize that it’s one of the best merchant strategies you ever ventured into.

Sometimes entrepreneurs choose to set up their company in a country where laws and regulations are more relaxed compared to their own native country. The tax laws and legal formalities associated with the setting up offshore companies will definitely be simpler. These companies are also known as International Business Companies or Non Resident Companies.

The critical aspect here is that these companies can operate only outside the country of its incorporation. Another way to define it would be that it can only transact with another offshore company, i.e. with any other company incorporated outside the country where it exists. People set up offshore companies to serve various purposes. Take a look into the various reasons associated with the setting up of offshore companies.

Certain jurisdictions facilitate easy business reporting, auditing etc and the filing of financial records and balance sheets are kept to the minimum. This makes it highly conducive to business men who don’t want to be bothered by these aspects and utilize the time and the costs they save to build up more clientele.

There is decreased risk of liabilities and assets belonging to the entrepreneur also remain free from risk of seizure. It’s also possible to carry on the business maintaining a certain level of anonymity. The owner’s name can be kept away from most transactions carried on in the private offshore company.

Since business is not conducted in the country of incorporation, it will be possible to keep the profits earned away from tax jurisdictions prevalent in that country. Thus, there will be a significant increase in earnings of the company. There are certain island countries like Belize, Antigua etc which levy very little or no taxes at all on offshore companies. A lot of customs duty exemptions are also available. This is an example for escaping bureaucracy. The concerned governments are mostly fair on such company’s trade and practices and there will be no major interferences.

Anyone keen on setting up offshore company can obtain expert advice often available in the country of incorporation. Foreign exchange conversion charges will also be found reasonable in these countries. Most international banks have very good services and facilities they offer for offshore accounts.

Offshore companies usually specialize in trading. For some entrepreneurs this is a major investment. Others provide consultancy services. A lot of shipping and yacht manufacturing companies are incorporated as offshore entities.

While setting up an offshore company, it is always advisable to set up in a country where political stability prevails since this is detrimental to the uninterrupted functioning of the concern.

High risk merchant processors are credit card processors which provide credit card services for high risk merchant accounts. Since these accounts are meant for highly risky commercial enterprises like gambling, pharmacy, adult content and travel-related, there are very few financial institutions which provide services for them and these institutions are referred to as high risk merchant processors.

High risk merchant processors are ideal for businesses which are not likely to receive approval from the standard financial institutions which are located within the country. This may occur due to two main reasons namely either the business is categorized under the heading of the high risk business or that it is located overseas in some other country.

There are a large variety of services which are offered by the high risk merchant processors out of which one of the main services is to offer a number of different processing sources to the merchant like banks located within the country, offshore banks, third-party processors and check processors. These alternatives are available to all merchants irrespective of whether the merchant has a single account or holds multiple accounts.

The high risk merchant processors are also responsible for getting the account of the merchant approved quickly because after the approval has been granted there is no restriction on the merchant in terms of the volume of the transaction or the number of transactions taking place in an account.

Having entailed the services of the high risk merchant processors, the merchant not only enjoys the benefit of a phenomenal increase in sales which is translated into profits but also experiences the advantages of functioning under relaxed regulations especially those concerning volumes and charge-backs. However, all these services would require the deposition of a certain amount of cash reserve or reference to rolling reserves as a form of security due to the nature of the commercial enterprise.

The high risk merchant processors are known for their rapid processing of inquiry as well as information due to which the merchant who is interested in opening a high risk account is contacted within 24 hours of the query being posed by different institutions which offer these services. After that the merchant is at a liberty to choose the specific processor which is most suitable for his individual requirements.

Since most of the high risk merchant processors enjoy an international presence, they offer processing services in multi-currencies as a result of which the merchant can choose to conduct dealings in the currency of his choice.

Check 21 or the ‘Check Clearing for the 21^st Century Act’ is a directive that facilitates the collection, dispensing and payment of electronic checks between the banks in the US. This ruling came into being on 4^th October 2004, bringing about considerable modifications in the traditional mode disposal of checks. The paper checks are converted into E checks for easier dispensing and payment. High Risk Check 21 Solutions are extremely worthwhile for those high risk merchant service vendors as it diminishes the dangers of fake dealings.

High risk merchant service owners will be in a position to add on to their customer database and collect their payments on time and correctly. There is also the facility to safeguard the merchant from checks that bounce as it will be extremely easier to spot them, which was not the case with the conventional paper checks.

The check 21 introduces to the present day world a novel model giving the vendors an edge, but the down side of Check 21 is that in spite of the fact that it enhances the speed of transactions there is every chance that fraudulence in checks authorities will not find it very easy to punish the wrong doers because if by chance the paper check is destroyed or lost after imaging there will be no proof to scrutinize the fraud. This is one point that has got both the providers and the merchants quite worried. And both parties are hoping that there will soon be some answer to this issue. So it boils down to the fact  that if a check is not accepted by anyone because they suspect that it could be a scam what on earth is the point of holding the check in your hands!!

Well one of the solutions for those following the check 21 regulations could be to ensure that the checks used have outstanding security features that are not copy survivable, meaning that the features of the paper of the check are as reliable as possible. It should be such that the features will assist fraudulence to be brought to the forefront at the point where the check is received. This could help to relieve the burden of legal responsibility to the bank that does the conversion.

But by and large the High Risk Check 21 is one of the regulations that has revolutionized the banking sector giving the high risk merchant service providers an opportunity to really grow in their business.

Adult merchant processing is the phrase which is used for the procedures involved in the processing of an adult merchant account. Since a commercial enterprise which deals with adult services comes under the category of a high risk merchant account, the formalities involved in opening such an account are carried out by the high risk merchant processors and these are collectively referred to as adult merchant processing.

The first step which marks the commencement of the adult merchant processing is to search for a high risk credit card processing service. Due to the hazardous nature of the business, this might prove to be a difficult job since not every financial institution would be inclined to provide such facilities and the solution may be found in form of a third party processor or an offshore merchant account.

The next step in adult merchant processing requires the merchant to fill out a form with all details pertaining to the business as well as the services which are desired. This form is then circulated among the processing services all over the world and the merchant can expect to hear from the interested parties within 24 hours of having submitted the form. This is followed by negotiations in which both parties discuss about the charges as well as the documentation which would be required.

Some of the information which is asked in the form requires the merchant to supply specific details with regards to business information, business specifics, processing information, and name of the principal contact, the related business websites along with the personal comments of the prospective merchant.

This information is then submitted to the provider who is willing to offer the adult merchant processing services for a high risk account. Subsequently, the background of the merchant is checked like the business, credit card processing history as well as legal and criminal records. Since this might take a long time, the process can be shortened if the information is provided voluntarily by the adult merchant himself.

Any merchant who has decided to go through the adult merchant processing should be prepared to pay additional fees which are decided according to the nature and the extent of the risk involved. This kind of processing also involves a high percentage of charge-backs.

The adult merchant processing for a new commercial enterprise has to be included under high risk processing but as the business grows older and gains financial stability in form of profits, it can be shifted under normal credit card processing if so desired by the merchant.

ACH processing or Automated Clearing House processing as it is rightly called is the means by which the vendor is enabled to bill the client through his bank account for the services that you have rendered. This is a dependable method for vendors to make their collections. This system has come into being since the early 70’s.  More than 95% of the people doing online business have checking accounts and if the type of business that the trader is doing is based on a monthly income from the client he will be in a real dilemma if someone delays a payment. Such matters can be dealt with through the High Risk ACH Processing account system. There is also the facility for verification through an ATM that can easily verify the validity of an E check.

In the case of high risk merchant services, it is absolutely imperative that the vendor has a High Risk ACH Processing system in place. It is nothing but an electronic means of transferring money wherein the dealings are conducted in more or less the same way as in the conventional methods. The U S Federal Reserve supported the ACH in its initial stages by providing computers and electronic assistance to help the banks.

It is not really very difficult to start an ACH account. Even the high risk merchant service providers who help traders to maintain their credit and their accounts have started offering to help with the setting up of High Risk ACH Processing accounts, making it more convenient for traders who can go to a merchant services provider for all their needs.

The advantages of ACH processing

• An ACH processing System permits the electronic transfer of funds through the internet.

• The transfer of funds is direct from the funds of the customer’s bank account to that of the trader. This is more commonly known as the EFT or the Electronic Funds Transfer.

• ACH account processing has the facility to transform all checks to be into electronic checks.

• Consumer dealings can be processed electronically. The list is endless.

One of the significant implementations of the ACH is the check processor that assists a business to bloom and grow. Combined with software that helps to verify the ATMs the trader or merchant can comfortably sit back and enjoy the payments pouring in. The customers are also greatly satisfied in the bargain making business thrive for everyone.  So in the interest of both the merchant and the customer it would be a great idea to set up a High Risk ACH Processing account.

Ewallet is a digital wallet which facilitates the user to conduct safe and secure commercial transactions through the electronic media with rapidity. The Ewallet must be undergoing hundreds of transactions every day and the total of all the electronic as well as physical transfers and payments occurring through the Ewallet is collectively referred to as Ewallet solutions.

Ewallet solutions are a type of method of payment in which either the customer pays directly or makes known his method of payment in terms of a virtual wallet. As a result, whenever a payment is made from the Ewallet account, the amount stands to be debited from the Ewallet credit balance and likewise the Ewallet solutions allow the account user to receive payments from other parties as well.

Due to the growing popularity of online commercial practices like forex trading as well as gambling, Ewallet solutions are in great demand and are therefore being offered by a number of financial institutions. In order to launch an Ewallet site, one needs to install a particular software package and subsequently fill out a form and secure the information by putting a password.

Ewallet solutions are particularly advantageous for poker and gaming sites because not only do they facilitate instant deposits and withdrawals but also charge transaction fees which are lesser compared to those charged for credit card transactions. In addition, these services are more secure since they safeguard personal information and also prevent the records of the gaming transactions from appearing on one’s bank statements.

Since Ewallet solutions are particularly designed to cater to online forex trading and gambling, the institutions which specialize in this facility have dealings with many gambling and trading platforms. A direct consequence of this relation is that any client who registers with such an institution is granted a number of bonus cash and bets ranging between ten dollars and hundreds of dollars.

As far as a gambling enthusiast is concerned, a set-up consisting of a bigger poker room equipped with facilities to access Ewallet solutions is an ideal scenario for safe and immediate deposits and other transactions. In such a situation, a gambler can deposit cash into the Ewallet account beforehand and then simply diversify the money into the poker site of his choice by clicking on the requisite buttons.

However, as a precautionary measure the consumer using the Ewallet solutions should stay informed as well as alert because like all other modern methods of transactions the Ewallet solutions are also prone to online scams and fraudulent schemes.