Your Questions Answered
With Merchant Services 101 we answer your questions. There is a big difference betwen Merchant Service Providers and you should know why and how
these difference matter to you and your business. Below are a few questions we answer for you.
- What is the difference between a Credit Card Processor and an ISO/MSP (Reseller) of Merchant Services?
- There are over 641 million credit cards in circulation.
- Credit card customers are impulse buyers – BE READY!
- Americans are expected to charge $3.9 trillion to credit cards and $1.4 trillion to debit cards a year by 2009.
SecureNet Payment Solutions provides complete card processing for Visa®, MasterCard®,
American Express®, Discover®, Diners Club®, JCB, Debit/ATM, and private label cards
for retail, mail order/telephone order and Internet businesses. Value added
services include merchant account origination, 24 hr. customer service, equipment
and supplies, voice authorization and both online and paper statements.
Features and Benefits
Great low rates
Prompt payment of merchant funds
No equipment purchase required
Reliable 24/7 Customer Service - Free!
Quick merchant account approvals
Secure 24/7 on-line transaction reporting
Loss prevention specialists protect your business
Voice authorization services
Retail, MO/TO, and Internet solutions
Debit Card Payment Processing
Debit card transactions have become overwhelmingly popular in the past few years.
There are two types of debit transactions, PIN (online) and signature (offline).
Both deduct funds from the consumer’s checking account. It is beneficial for
businesses who see customers in person to accept both debit types, whereas businesses
who do not see their customers should accept signature debit. The more payment
options businesses provide their customers, the better.
PIN Debit
With PIN debit, the customer selects "Debit" as the payment method and then after
the card is swiped must enter their Personal Identification Number (PIN) into an
encrypted pin pad at the point-of-sale (POS) terminal to authenticate their identity.
The transaction is transmitted through the electronic funds transfer network and
the funds are deducted from the consumer's checking account within seconds.
Benefits:
- Fast settlement of funds
- Reduced chargebacks
- Increased security with PIN debit rather than signature debit transactions
- Less expensive for merchants than signature debit (generally)
- More secure and fewer fraud losses as compared to signature debit transactions
Signature Debit
With signature debit, the customer selects "Credit" as a payment method because
the transaction is transmitted through the Visa or MasterCard networks and provides
a signature after the transaction goes through. The funds are then deducted
from the consumer's checking account. The only authentication is if the consumer
is asked for picture ID. Signature debit is sometimes less expensive to consumers
than PIN debit, as some banks charge users for PIN based purchases.
Benefits:
- Ability to make debit purchases over the Internet, phone, by mail or at
the POS
- Fast settlement of funds - the same as credit cards
We give you comprehensive, state-of-the-art credit card processing services at
the lowest possible cost. Let us provide a FREE analysis of your current processing
costs and show you how to save money.
