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Showing posts from February, 2009

The Benefits of Electronic Payments for B2B Transactions

In the digital age, businesses are increasingly moving away from traditional payment methods such as checks and cash, and adopting electronic payment methods for B2B transactions. Electronic payments offer numerous advantages over traditional payment methods, making them an ideal choice for businesses looking to streamline their payment processes and improve cash flow. What are the benefits of electronic payments for B2B transactions? Faster payment processing Electronic payments are processed much faster than traditional payment methods. With electronic payments, the payment is transferred directly from the payer's bank account to the payee's account, eliminating the need for physical checks or cash. This significantly reduces payment processing time, allowing businesses to receive payments faster and improve cash flow. Increased convenience Electronic payments offer increased convenience for both the payer and the payee. With electronic payments, businesses can make and recei...
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List of Payment Gateways

Here is a list of payment gateways. · Anacom, Anacom Merchant Services, United States · Authorize.net, Authorize.net, United States · Banco Comercial Portugues, Banco Comercial Português, Portugal · Bank Merchant POS (BMP), Bank of China, China · Beanstream, Beanstream Internet Commerce, Inc., Canada · Bibit, Bibit Internet Payments, Netherlands · Bill4me.com, Facilitate I.T. Inc., Canada · Biz*Star PX, Shanghai Shared Data Network Co. Ltd (SSDN), Singapore · Business Gateway Service, WorldCom, Japan · Buy-Line, Bank of New Zealand, New Zealand · CAFIS, NTT Data Corp., Japan · Cambist, Cambist Merchant Solutions, United States · Camtech, Camtech Corp., Australia · CCNow, CCNow, Inc., United States · Chinatrust, Chinatrust Commercial Bank (CTCB), Taiwan, Province of China · CIBC, Canadian Imperial Bank of Commerce, Canada · CIPAS Indonesia, PT. CIPAS Indonesia, Indonesia · CitiBank India, CitiBank India, India · ClearCommerce, ClearCommerce Corp., United States · ClickBank, Keynetics In...
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PCI Compliant Credit Card Transactions

As a follow up to our previous post . We are going to get into a little more detail regarding PCI compliant credit card transactions and the storage of credit card numbers. PCI compliant As a merchant you need to be PCI compliant, but it doesn't have to be difficult. The storage and transmission of credit card data is regulated by PCI or the Payment Card Industry . What this means is that if you accept credit cards you have to abide by certain rules to protect that data. PCI Complaint Credit Card Number Storage PCI says do not store credit card numbers. If you have an e-commerce store or web site that accepts payments do not store those credit card numbers in a database even if they are encrypted. It should go without saying you do not want to send an email to anyone even yourself with the full credit card number visible. So what do you do? Accepting Credit Cards In order to accept credit cards for the average merchant you should be using your processors securely hosted payment pag...
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Merchant Account Fees Part 2

Continuing on with the merchant account fees from our previous post. Remember not all fees are charged from all service providers. These are the most common. Monthly minimum fee Sometimes a processor will impose a monthly minimum fee. If the monthly minimum is not met, the merchant is charged up to the monthly minimum to satisfy the minimum fee requirements. Statement fee The statement shows how much processing the merchant did and the costs incurred. It reflects the number of transactions, total dollar volume and average ticket. This is a monthly fixed fee. Normally the statement is $8 to $10. AVS fees An Address verification service is used for fraud prevention. It compares the billing address provided by the cardholder with the card issuing bank's records. It verifies that they match. Normally a 5 to 10 cents per item. Bankcard authorization and transaction fees Bankcards issued by Master Card and Visa charge an authorization fee is each time a transaction is sent to the card-is...
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