Released on: September 25, 2008, 2:47 pm

Press Release Author: Jen Reynolds-Assistant Marketing Director

Industry: Financial

Press Release Summary: Banks have many hidden cost Bankcard Empire explains everything



Press Release Body: Many merchants do not understand the hidden costs when it comes
to using a credit card processor. Bankcard Empire reveals all costs that many banks
hide from their clients. This is part two of a series of releases brought to you by
Bankcard Empire.


4: Is a merchant account required to accept credit cards?
No. One option is to contract with companies providing payment processing on your
behalf. Their prices are higher from taking a larger percentage of the ticket price.
All credit card providers charge your small business a percentage of each credit
card payment received. If you are considering selling on the Internet, a merchant
account provides a better professional image.
If you allow a third party company to process your payments, you have to put your
order form on the payment processing site. You may only be able to get your funds
two or three times a month, limiting cash flow. With your own merchant account,
expect to receive those funds in less than three days from the time of the
transaction.

5: What is required to begin payment processing online?
To begin payment processing you need the following:
· Secure Server with Certification: When your customer enters their credit card
information, it is sent in unencrypted text form to the server hosting the website.
To prevent data interception use SSL encryption ensuring no unauthorized decoding
can occur.
· Order Form: Your customers need a place to input personal and banking
information. The order form must be on a secure server.
· Gateway: This is the "tunnel" which allows for the authorization, processing, and
management of the merchant services. It is the mechanism transferring your
customer's vital information to the processor so you can get paid.
· Shopping Cart: A shopping cart is software allowing your small business to have
an e-commerce store where purchases are automatically calculated for you. Ensure the
gateway is compatible with the shopping cart.
· Merchant Service Account: You can have a secure server with certification, an
order form, shopping cart and a gateway, but real-time processing cannot take place
without establishing a merchant account. The merchant account provides access to a
processor able to authorize, capture, and settle credit card transactions.

Finding the best merchant service option can be overwhelming. Review your options
and make the decision based on what your customers would prefer and your small
business can afford. Take a look at www.bankcardempire.com and call to speak to an
agent about your business situation and see if it is time to make a switch!



Web Site: http://www.bankcardempire.com/

Contact Details: Raymond E. Petty
Ecommerce/Multimedia Director
Bankcard Empire
2701 E Osborn Rd
Phoenix, Arizona 85016
480-593-6947 Direct
www.bankcardempire.com