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Updated by Apoorv Joshi on Jul 11, 2018
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Apoorv Joshi Apoorv Joshi
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High Risk Credit Card Processor

Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and chargeback management services.

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Centenary Bank - Uganda Leading Commercial Microfinance Bank Introduces Visa Cards

Centenary Bank - Uganda Leading Commercial Microfinance Bank Introduces Visa Cards

KAMPALA, UGANDA- Centenary Bank, Uganda’s leading commercial microfinance Bank, has unveiled the new CenteVisa debit card.
This comes after the rollout of internet banking and is a step towards enhancing customer’s convenience in accessing financial services.

Centenary Bank currently serves 1.4M customers, which is a third of the country’s banking population and is running a financial inclusion drive to serve more. Such an expansion drive calls for an increase in service outlets making platforms like Visa a natural option. The Bank’s diaspora clientele and product range are also increasingly calling for more global service schemes.

The Cente Visa card is a globally accepted card that operates using Chip and Pin technology, which provides enhanced security. Customers can now enjoy the freedom of transacting anywhere in the world, wherever Visa has been enabled.

Fabian Kasi, Managing Director Centenary Bank applauded the customers for their loyalty and urged them to get their Visa cards as soon possible.

Centenary Bank, whose tagline is “Our Bank” prides itself in responding to client needs and engaging in research before onboarding a new product. According to Mr. Kasi, customers requested this service so as to be able to have more flexible payment options anywhere, anytime, in and outside the country.

The Bank’s General Manager Operations, Joseph Kimbowa added that the exercise of getting new cards is to run for a particular period to enable completion of integration with Visa. He said, “customers have up to six months to get their new Visa cards, thereafter the old magnetic stripe card shall be disabled from the system.” He added that the process for getting new cards is seamless and customers need not postpone the exercise.

“At Visa, we are keen on being part of the everyday life of our customers. With the ever-changing face of monetary transactions: cards and online dealings, customers have become more tech-savvy, decisive and particular about their overall experience while transacting. To this end, Visa’s operations in Africa are firmly based on bringing about innovative products that promote safe and convenient transactions,” said Victor Ndlovu, the Senior Director, Visa Development, Sub-Saharan Africa.

Centenary Bank continues with its strategy of reaching the unbanked. You can go to the link for more information about - VISA CARD

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Some Tips You Can Use to Create High-Risk Online Business

Some Tips You Can Use to Create High-Risk Online Business

Popular products
Inform your clients about the products and services you offer and what sets them apart. This will give you a better distinction between the rests of the competition. It will also help your company to be recognized as user-friendly.

Know your target market
People will not rush to your website without attracting it. Knowing the complexity of your target market plays a crucial role in marketing your product effectively. If you have a large clientele, then you must understand their interest and their fascination. This will allow you to attract better attention.

Create a friendly and lively website
We all know that everything that is presented visually is better than just selling it by word of mouth. Therefore, it is vital that you create a website that attracts the visual wishes of your customers. Easy-to-use add-ons, easy-to-use content, maximize ad space and more. The possibilities are endless when it comes to decorating your website.

Online marketing
The best way to stay in the market is to promote products. Understand the ideas you will create to make your business recognizable in the technology-driven world. You can seek the services of the8figuredreamlifestyle as they will help you understand well on marketing your products. Traditional marketing is a thing of the past. You need the power of technology to help you achieve success online. A promotion like Search Engine Optimization (SEO), Social Media Marketing (SMM) and many more will help you increase the number of people who want to visit your website and get more traffic. Select your product and market it on popular marketing websites. And he is also promoting it on his site.
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Try and failure**
It’s an old business issue, but it still works in any business. As we all know, having a company is always a matter of taking risks, but the key is to be smart in any decision you make, as it will cause your business to break or break. The online world has too many competitors and being on top is hard work.

Conclusion
Remember that all online businesses can start small and unrecognized, but with the right tools and the best people to train and teach you the online world language, you will thrive as much as any business person who has started small but it made it big. The power is in your hands today.

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What will be the Next Steps to Exploring the Future of Credit Card Processing?

What will be the Next Steps to Exploring the Future of Credit Card Processing?

Credit cards are the future of payments. More and more people are opting for credit or debit cards as they are readily available and you can carry as much as you want with as much money as you have in your wallet.

If you take a look in most shops, you’ll find that almost all of them have credit card processing machines. It’s much easier to simply swipe your credit card, pay for the goods, and leave. This is especially true for people at the cash register and even accountants because every payment gets processed and all of that information is available at all times. Anyway, let’s see what the future of credit card processing will bring us!

Virtual Terminals

In short, virtual terminals are online POS machines. POS machines are Point-Of-Sale machines which are used to process credit card payments. Virtual terminals are programmed in such a way that they usually accept most credit and debit cards, as well as access from all web browsers. They are most often hosted on the service provider’s servers. Virtual terminals are great because they can speed up payment by a significant margin.

POS Credit Card Processing

Point-Of-Sale credit card processing has been around for a long time. However, it is constantly evolving and improving. POS works by processing credit cards and giving out invoices to customers (which isn’t always required). Even though there are various, more modern methods of processing credit cards, POS systems will most likely stay for a few more decades in the very least.

EMV Chip Readers

About 5 years ago, no credit card or debit card had an EMV chip on it. Nowadays, however, almost all major card providers are switching to EMV chips. Several security breaches are what caused this change. EMV chip cards are more secure than regular cards because of the computer chip that exists on them. EMV chip readers read these chips. You might have seen small, metal squares on new credit cards – those are the EMV chips. Before the change from magnetic strips to EMV chips is finalised, most first generation credit cards will be equipped with EMV chips and magnetic strips because EMV chip readers aren’t available everywhere yet.

Payment Gateways

Payment gateways are merchant services that an e-commerce application service provider provides to direct payment processes for online retailers, e-businesses, bricks, and clicks, etc. They are also used for authorizing credit cards. Payment gateways were particularly useful for High-Risk merchants because most banks don’t want to work with these merchants and they have to find an alternative. A high-risk payment gateway is great in this case because it offers credit card processing and authorization without having to go through the hassle of contacting a bank and requesting services.

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Today Lower of Credit Card Processing Fees

Today Lower of Credit Card Processing Fees

United Thinkers, a New-York based commercial open-source Payment Management Software provider has released guidelines for merchants and payment facilitators that want to improve their current transaction processing terms.

United Thinkers published a manual, providing guidance for companies that are not satisfied by fees, that they currently pay for processing credit cards and other electronic payments. Is your company in a similar situation? Maybe, you think that your current processing arrangement is not that bad, but processing fees seem a little too high, especially if your transaction processing volume is large and growing. Or, perhaps, transaction processing fees themselves are fine, but if you add tokenization, gateway, and other fees to them, the amount looks rather significant. Possibly, having carefully analyzed your overall transaction processing-related you realize that it is much larger than you initially thought because of some hidden fees that you have just identified. If any of these statements are relevant for your case, then the guidelines are for you.

In the document United Thinkers experts describe the most frequently used strategies that their customers resort to in order to analyze and reduce their transaction processing costs. They identify the mistakes that people make and explain why many of the common strategies are inefficient. The commonly implemented intuitive strategy involves either negotiating better terms with the current processing partner or looking for a new processor that can offer better terms. However these approaches often do not result in desired savings. The guidelines explain the reasons of this phenomenon and list the disadvantages of the commonly used approaches. They provide a better framework to properly understand what your true processing cost is. The document includes useful suggestions on how you can identify all of the aspects that contribute to the cost of processing, and provide effective overall cost reduction strategies, focusing on each particular cost item.

Particularly, the guidelines authors describe the strategy of processing cost reduction through processing consolidation. United Thinkers successfully uses the strategy to improve the situation for its large-size corporate clients through implementation of UniPay Gateway technology in the already existing payment ecosystems.

"Many of the companies we are working with are not satisfied with pricing terms of their existing processing relationships. So we feel that we had to do something about it. Our new processing cost reduction guidelines are based on our rich experience of helping clients to establish successful processing relationships. They allow the readers to address the issue of processing cost reduction in a broader and smarter way," says United Thinkers president, Eugene Kipnis. "The key to actual savings is not necessarily the reduction of processing cost itself. Sometimes it might be beneficial to take a closer look at other cost items, such as indirect or opportunity costs.

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Visa Process Smoother and Faster for Entrepreneurs

Visa Process Smoother and Faster for Entrepreneurs

The new visa route, devised with Brexit in mind, is intended to make the visa process smoother and faster for entrepreneurs and was introduced by home secretary Sajid Javid this week during London Tech Week. It will be launched in Spring 2019.

“We want to do more to attract businesses to the UK and our migration system plays a key part in that,” Javid said. “This will help to ensure we continue to attract the best global talent and maintain the UK’s position as a world-leading destination for innovation and entrepreneurs.” The new start-up visa scheme will need applicants to have an endorsement from a UK university or approved UK-based business sponsor, including start-up accelerators.

The cost of the visa and any cap has not yet been decided but a Home Office spokesman said: “This visa will replace the Tier 1 (Graduate Entrepreneur) visa route, which was only open to graduates, so opening that route up to a wider pool. The cap on that was 2,000 per year and we do not expect the cap on this to be less than that.”

Antony Walker, deputy CEO, tech UK, UK’s technology trade body, said: “The new startup visas are a sensible move to encourage those with good ideas to come to the UK. However for many mid-tier and larger tech companies, there remain serious concerns around Tier 2 visas. We understand that approximately 1,000 tech workers with job offers were refused visas between December 2017 and March 2018. This is a handbrake on economic growth and needs to be urgently addressed.

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Credit Card Acceptance for E-Commerce Businesses

Credit Card Acceptance for E-Commerce Businesses

The answer for “how to get the access of payment gateway and accept Visa, MasterCard, American Express and Discover” in simple words is, the business needs to establish a Merchant Account. But, this doesn’t only solution as Merchant Account, is just the service that is provided by the banks that will help to accept the electronic mode of payment. Businesses can choose between the elaborate array of collections banks from across the world have ACH, Check Processing, Credit Card Acceptance, Point of Sale System, etc.

The choice of services sometimes create a lot of confusion for business owners to choose the perfect services according to their business type and what are the exact requirements for the application of the Merchant Account. For the ease of business owners Merchant Stronghold, with their industrial experiences can help them to choose from the perfect option according to their business. For application of Merchant Account the business owners need few of the basic documents:

A letter that is specified with the details and nature of business , Fulfillment Agreements, DBAs etc
Articles of Incorporation of the business, Tax documents etc, Fictitious filings etc
Address and ID proof of the owner(s). If the physical address of the business exists the proof of that also needs to be attached with the application. Utility Bill and Passport recommended.
Personal and/or Business Bank Statements, Tax returns are important. This provides financial strength and stability to the business.

Merchant Stronghold can help businesses to establish the Merchant Account and provide a gateway terminal to accept payments across the world. One thing that comes while collecting the payment of through electronic methods is the customers have the right to dispute the transaction if they are not satisfied with the merchant’s service they directly contact to the bank for the amount that the customer paid for the product or service that leads to Chargeback. Merchant Stronghold will help businesses to fight such situations with all the legal documentations about which businesses many times are unaware.

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Important Questions to ask your New Credit Card Processor

Important Questions to ask your New Credit Card Processor

You need to choose a new credit card processor. But it is not as easy as it seems, it is a big decision to make. Before making the decision, you must know it includes the fee charged and contracts. Also the customer service department and cost-effective tools available. Do the comparison, study the market and then make the final decision. Let us now discuss it further.

Structure of Fees Charged

When you select such tools, you are accused of a specific measure of the fee. Be that as it may, it is essential to know exactly what precisely those fees are, all the more generally called breakage of the fee. The truth of the matter is that high-risk merchants of the high-chance vendors have no idea about the procedure and end up paying a high amount of fee without really knowing the shrouded high markups in their valuing structure. To process the transaction, an exchange some portion of estimating structure is paid to the card issuer. Aside from this, there is an additional fee that they put on its highest point to acquire benefit. In this way, when you are applying for new credit card processor/merchant payment processor, ask for them to isolate out the exchange fee with the goal that you can have an unmistakable thought regarding how much cash they are making or charging you altogether.

Contract and Time Duration

Whenever a merchant wants to opt for a new credit card processor, he/she needs to sign a contract, which will lock you with them for certain period of time. It is important for high-risk merchants to check for options when shopping around for new processor and also to finalize the processor with shorter time duration instead of multi-year contracts. The advantage of choosing a short-term contract is:

They will work hard for your business to impress you so that you renew the contract instead of shopping for new credit card processor or merchant payment processor once the contract expires. If you end up signing a multi-year contract, you will soon be forgotten and ignored and service quality provided may deteriorate.

Customer Service Department

Efficient and knowledgeable customer service department is like icing on the cake. Get the opinion of the current customers of the credit card processor. Also, find out about their experiences with the customer service department. Look for the processor whose,

Support representatives are knowledgeable and can tackle any kind of issue if arises. Call waiting time is minimum Support representative should be able to resolve issues in the first call and in shortest time duration.

What is Customer Bolster Accessible?

At long last, don't be talked into renting a terminal, which is where customer swipes their cards to pay. Hinke says he has seen fledgling dealers rent a terminal for as much as $139 every month when obtaining one would just cost amongst $200 and $350. On the off chance that you choose to purchase. If you have any question in your mind, you can ask us. Click for more information related to Credit Card Payment

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Merchant Payment Services for Cоѕmеtiс Stores

Merchant Payment Services for Cоѕmеtiс Stores

Cosmetic stores hаvе a lot оf сuѕtоmеrѕ whо соmе bасk frеԛuеntlу fоr a vаriеtу оf reasons. Mауbе thеу rаn оut of thеir fаvоritе mаkеuр, or they nееd to pick up an nеw hаir drуеr. Whatever thе саѕе mау bе, уоur buѕinеѕѕ iѕ complex аnd уоu nееd tо bаlаnсе your time effectively tо grow.

Onе thing thаt саn help уоu organize уоur business ѕо уоu can focus оn more imроrtаnt thingѕ is POS system fоr уоur соѕmеtiс stores. While аn еlесtrоniс cash drаwеr does its jоb, there iѕ so muсh mоrе you could bе getting frоm your rеgiѕtеr. Thingѕ like rероrting, dashboards, inventory mаnаgеmеnt, and purchase orders are еаѕу tо get from your Pоint оf Sаlе ѕуѕtеm, but hаrd or impossible tо gеt frоm a саѕh rеgiѕtеr.

Mеrсhаnt Stronghоld offers аll of thеѕе thingѕ аnd mоrе, fоr аn еxtrеmеlу low соѕt comparable tо a nice саѕh register. Our gоаl iѕ tо help уоu build уоur business bу giving уоu mоrе timе with customers and ѕреnding lеѕѕ dеаling with things likе rероrtѕ аnd accounting.

Orgаnizing and tracking invеntоrу for a cosmetics ѕtоrе is very сhаllеnging withоut a computerized саѕh rеgiѕtеr.Vеrifоnе VX520 роint of ѕаlе ѕуѕtеmѕ mаkеѕ it easy tо ѕеll items in packages аnd аlѕо control their еntirе invеntоrу. Our automated inventory trасking аnd рurсhаѕing offers imрrоvеd оrdеr ассurасу аnd ԛuiсk responses tо сuѕtоmеr trеndѕ.

Cоѕmеtiсѕ invеntоrу consists оf many ѕmаll itеmѕ ѕсаttеrеd throughout thе store thаt would be hаrd to kеер trасk оf. Our роint оf ѕаlе System iѕ hеrе tо help you out.

OUR POS FЕАTURЕЅ DЕЅIGNЕD FОR THЕ CОЅMЕTIСЅ INDUЅTRУ INСLUDЕ:

  • Cоlоur Mаtrix аvаilаblе (е.g. for liрѕtiсk, nаil polish) tо create ONE рrоduсt with multiрlе “Colour” аttributеѕ
  • Prоduсt ingrеdiеnt liѕt аvаilаblе tо ѕtоrе and print оn сuѕtоmеr receipts оr fоr rеviеw
  • Cuѕtоmеr database tracks рurсhаѕеѕ support рrоduсt rесоmmеndаtiоnѕ.
  • Pасkаgе sales аnd kitting аllоw ѕеlling рrоduсtѕ in thеmе bаѕkеtѕ.

Nоtе: Cоѕmеtiсѕ ѕhорѕ аrе expected to dо mоѕt оf thеir buѕinеѕѕ viа terminal if they nееd a рауmеnt gаtеwау оnlinе (соntасt Mеrсhаnt Strоnghоld tо knоw more about thiѕ)

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How to Choose your two -card Westpac, American Express Credit Card?

While Westpac never again issues its own American Express cards, another organization with AMEX – whereby American Express issues and administrations cards bearing a Westpac logo – gives spenders another approach to continue gaining long standing customer points at higher rates than through a Visa or Mastercard alone.

The new approach gives you three decisions to make amid the application procedure: which reliability program to take (Altitude Rewards or Altitude Qantas), regardless of whether you'd like a Platinum Visa or a Black Mastercard (issued and serviced by Westpac), and whether you'd prefer a Platinum or Black AMEX issued and serviced by American Express.

You can even blend and match – so in the event that you, for the most part, intend to spend on AMEX to acquire the most elevated number of points, you might pair the American Express Westpac Altitude Black Card with the Westpac Altitude Platinum Visa, to minimize your annual fees while maximizing your AMEX points.

Choosing Rewards Program

Get things off by assigning your preference for either Altitude Qantas – where every one of the points you gain is automatically transferred to Qantas Frequent Flyer every month – or Altitude Rewards, from which points can be changed over to programs like Velocity, KrisFlyer, and Asia Miles.
Importantly, the alternative picked here applies to both your cards, so while you can combine a Platinum Visa with a Black AMEX, you can't have Altitude Qantas appended to one card and Altitude Rewards to the other, so pick wisely.

Westpac Visa/Mastercard

The hardest decision here is which reliability program to take – once you have that arranged, the rest is more clear – so at this progression, it's a decision between the Altitude Black Mastercard and the Altitude Platinum Visa, both issued and serviced by Westpac.

Choose American Express Westpac card

At last, your decision between the AMEX Westpac Altitude Black Card and the AMEX Westpac Altitude Platinum Card, both issued and serviced by American Express.
Keep in mind, you don't have to pick a similar card 'same colour' as your Visa or Mastercard – you can combine a Platinum Visa with the Black AMEX, or the Black Mastercard with a Platinum AMEX..
Simply take note of that in spite of the fact that the reliability points you gain will be joined with your other card, the American Express card itself is a separate product, with its own online banking, card statements, yearly charge, credit limit and capability rules.