what do you need to get a merchant account business started?? how do you start your own small business/company

Q) i want to possibly look into starting my own merchant account business and i was wondering what steps do i have to take in order for me to get started.. do i have to get some kind of license if anyone could help me out with a few pointers i would be more than greatfull thanks.

A) Banks are the most frequent vendor sources of merchant accounts. Banks usually categorically deny vendor status to home-based businesses. Bankers are closemouthed about the reasons for this policy, but I'm unable to determine whether the source of this policy is the banks themselves, the federal examiners who regulate banks, or the Visa and MasterCard organizations. Whatever the cause, it's a fairly blatant form of discrimination. However, individual banks can and do make exceptions. Visa Merchants Card Management Guide: http://www.usa.visa.com/download/business/accepting_visa/ops_risk_management/card_ accept.pdf?it=r4|/business/accepting_visa/new_acceptance/merchant_responsibility.html |Card%20Acceptance%20&%20Chargeback%20Guide Mastercard International Rules Manual: http://www.mastercardmerchant.com/docs/accept_mastercard/merchant_rules.pdf Payment Card Industry Data Security Standard: http://usa.visa.com/download/business/accepting_visa/ops_risk_management/cisp_PCI_ Data_Security_Standard.pdf

What do you need to get a merchant account business started?? how do you start your own small business/company

A) What's a merchant account business? I know that to start a business you need to register with your state so that you can show them your earnings every year and turn over any sales tax collected from in-state customers. Then you need to find out if your business is the kind that requires a special license like tattoo artists or food vendors. Then decide where you want to sell. To stores? From your own store? Online? Your approach will be different based on what you decide. Other things to consider: Do you have the money to get supplies and get started, or will you need a loan? Do you need any special zoning in your neighborhood? Get a workbook from a tax preparer that shows you what items to keep track of, for expenses and income.

Can you get a small business loan with bad personal credit, and without a merchant account? If so how?

Q) I have a small cleaning co: I'm totally leagal but have no money to get a basic start. supplies, Insurance. ect...

A) Get a Govt SBA loan: The SBA has various types of small business loans. The Basic Loan Guaranty program is designed for those small businesses who will not get the loans from the lenders. These loans are disbursed by the commercial lenders with SBA acting as a guarantor. The Certified Development Company (CDC) Loan Program is ideal if you want to buy a property or machinery to expand or modernize your existing operations. This is a long-term loan with a fixed-rate of interest. You need to contribute 10% of the amount as equity. The micro loan program is a short-term loan with limit not more than $35,000. You can use it as a source of funding for working capital and inventory or non-profit childcare centers. However, you cannot use it to clear your existing dues. The loan prequalification program allows you to get your application reviewed and approved by the SBA before going to lenders. The limit for this program is $250,000.

In starting an e-commerce small business, is it an advantage to open a merchant account...?

Q) or is Paypal sufficient? I want to accept credit cards on my web site.

A) It is always best to offer as many possible payment options for customers as possible. Here are reasons why you need to accept both: 1. Not everyone on this earth has a Paypal account, and not everyone is willing to sign up for one. If you don't have a merchant account, you will lose the sale of majority of the people who do not have Paypal accounts. Unfortunately, there is no data how many people actually abandon their shopping carts upon seeing that only Paypal is offered for payment processing. 2. If you can get a good merchant account provider, transaction fees of Paypal is way higher and more expensive. This is true especially if you are selling high ticket items. 3. Paypal is good if you are selling on ebay, or majority of your buyers are on ebay, or you are doing your online selling as a hobby. 4. You don't get victimized by phishing schemes with your merchant account. There are tons of phishing emails on Paypal around, so you need to be careful on that one. 5. Fraud controls. This depends on the industry - some are more prone to fraud than others. Unless you can put addons in your payment gateway (e.g. get Verified by Visa or some other controls), Paypal takes care of this on their end. So with a merchant account, the more fraud controls you put, the transaction costs becomes higher and keeping it becomes more expensive. I suggest give customers the option of using which is most convenient for them -- both. If they want to use their credit card, then you have the merchant account to process it. If they want to use their stagnant funds in their Paypal account, then let them do it. Then review how many of your customers actually use Paypal vs. merchant account, and estimate the cost for each. If only 3% of your customers use Paypal, then you can reconsider and use only your merchant account

I have a question about a career in the merchant bankcard business ?

Q) I am a 33 year old male and I just laid off from my banking job and I am considering getting into outside sales selling credit card machines and other services to small businesses. The job is 100% commission and it is extremely appealing to me. The company basically sets up appointments for me and I got out and sell small businesses on saving money on their merchant account . Im scared to try it because Im not sure if its a secure income. On the other hand, I dont want to go back to work a 9 to 5 job because I like the freedom that being an independant sales gives me. Can someone tell me if outside sales is a lucrative career ? What about the competition ? Can you make consistant income from it ? Is the merchant bankcard business a good business to be in ?

A) It is risky job. You just have know if you're ready to take the risk. Even if it seems lucrative because of the 100% commission thing, it's still up to your skills as a salesman. You should definitely clear all clouds with your employer. If your company is still a start-up company, then struggles are expected. Merchant accounts are challenging to deal with, but you just have to know how when to strike.

Businesses eligible for a gambling merchant account?

Q) am gonna attend a small seminar on merchant accounts, just wanna get an idea. thanks! peace out!

A) Hi there! Generally, the businesses eligible for a gambling merchant account are Poker, Baccarat, Blackjack, Pachinko, Roulette, Sports bettings, Lottery,and Bingo. But of course, there will still be new additions to the bunch. Feel free to check out the link below.

I got bad credit rating, but i want to apply for a merchant account...?

Q) I got bad credit rating, but i want to apply for a merchant account... any referrals for providers of merchant accounts to people like me? I have a small start up business.

A) If you've got bad credit rating (which sucks by the way), you can try 3rd party processor. Most banks & brokers are unbelievably strict when it comes to credit rating, so don't waste your time on them. Hence, look for a 3rd party processor like: http://www.freemerchantaccount.biz or a merchant account provider for high risk merchants. They'll be able to provide you with a merchant account despite your bad credit rating.

What problems might I have with an Apple computer for a small business ?

Q) I am considering replacing my PC with a Mac , but I am worried about running into compatibility problems . I run word, excel , outlook express and we process orders online via two different merchant accounts . What problems might I run into ?

A) You will have to check for compatibility for all of your applications. Then, if you think that the Mac that you are thinking about buying is still a good replacement option, you may want to buy it and run it parallel to your PC to see if you get the same (or better results). If you are satisfied with the Mac's performance and compatibility, then you can transfer your data files to your new Mac and just completely migrate away from the old PC.

I have Trouble with publishing my site?

Q) I made my site using Yahoo site builder. Yesterday i signed to Yahoo small business and made all the payments using my credit card. After one hour they sent me the confirmation mail regarding that i can upload my pages to my site and redy to publish. In Yahoo stie builder, I clicked Publish- I put yahoo small business account. after i signed in--- it says in need to sign in either yahoo marchent account or yahoo small business account. I am confused what i should do. When i made payment, i used my yahoo free mail that i've been using over years. Now that same id i am using for merchant account also still its not working

A) It may take time for your payments to get on their computer. Wait a few days and if you still can't publish, call them.

Online Best Mechant Account Services ??

Q) I wanna strat small online business and i need a merchant account or service that which i can collect and pay auction on ebay or other auctions sites.I wanna use this service on my website too.Help Please..

A) Dear Mohammad, from personal experience, i like Paypal - that's the only one so far i use and i never had problem - i have my account for some 3yrs now it would take 1-2weeks to set it up - good luck with your biz ma'a salama lu