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    All of our suppliers must be: available, accurate, and offer good value to our corporation. We now are 32 locations strong and are expanding rapidly every other month. Our credit and debit card services has been with 1st National Processing for 4 1/2 years now. We are very satisfied with the professionalism of the staff and their comprehensive customer service.

    John Elisha, Vice President
    Trimana Goodies Deli
    I see patients in multiple offices around the city every week. 1st National's machine & service has allowed me over the past 3 years, to get paid on site after visiting my patients and even after performing Lasik surgery which I have written a book about!

    Ronald Smith, MD, MPH, FACS
    Lazik Surgery by Dr. Ronald Smith

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BizEdge Advantage Blog

Monday, August 13th, 2012  |  no comments  |  B.J. Kharrazi

frozen credit card processing accountA rare, vital subject not often spoken about concerning merchant account credit card freezes. It’s considered an unbearable set-back when it comes to your finances. It is also a hindrance to your business.

The second your merchant account experiences a hold, you cannot access any of your funds until they feel the issue is resolved. The problem with this is you will not be able to send or transfer funds or allow transactions involving a credit card. This could take days, weeks, months, or even years.

You may have heard of some off-the-wall merchant account stories leaving you with an endless means of questions in your mind. A portion of Internet users feel that the merchant accounts are responsible for the development of stories, others beg to differ.

There is a root to every cause attached with some form of an effect—either positive or negative. In such cases, the banks are the entities that place holds on the merchant accounts until issues are resolved.

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Monday, August 13th, 2012  |  no comments  |  B.J. Kharrazi

eCommerce Merchant ServicesProcessing credit cards on the Internet is a much required form of payment when buying products or services online. If you’re a business owner, it’s crucial you have a merchant account.

People feel secure with merchant accounts that allow credit card processing. Buyers and sellers have different advantages and disadvantages when using your credit card.

For instance; if you’re a buyer and not happy with your product and feel it doesn’t meet the description, you rightfully have the power of authority in most cases to request for a charge back. Hence, you do the right things and send the product back to the seller.

As a seller, the disadvantage is having to wait for the buyer to be satisfied and, or leaves you with positive feedback. Situations like this can take place on websites like eBay. The advantage the seller has is holding off on leaving feedback until the buyer has agreed the transaction went through smoothly.

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Friday, September 9th, 2011  |  no comments  |  B.J. Kharrazi

1. Know your Business Type

merchant card services los angelesVisa/Mastercard use pricing indicators or business types to apply discounts toyour rates. In the beginning, Visa/Mastercard used to charge one rate for everyindustry. Some industries refused to accept credit cards because they thoughtthe rates were to high and cut into too much profit margin. Supermarkets wereone of the biggest holdouts. So, Visa/Mastercard began offering discount ratesto specific industries, card types, and processing methods. This is why there are 440 different rate categories. These discounts paved the way for credit cardacceptance at supermarkets, gas stations and fast food restaurants.

Your business may qualify for one of Visa/Mastercards special programs.For example, if your business has an average transaction of less than $15, youmay qualify for the small ticket program. If you are paying 1.64% + $0.25 pertransaction now, then under the small ticket program you could get your rates aslow as 1.65% + $0.04. Now your processor will probably tack on another sixcents to cover its costs. Still, you would save fifteen cents a transaction or 1.5%on a $10 transaction.

Visa/Mastercard has programs for most industries like restaurant,B2B, MOTO,Quick serve restaurants, Convenience Store, Hotel, Gas Stations, Supermarkets,charities, insurance, utilities, government etc.

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Sunday, June 5th, 2011  |  4 comments  |  B.J. Kharrazi

Source: Catalyst HouseBitCoin Digital Currency

In 2006 Douglas Rushkoff, when asked The Edge Question, “What is the most dangerous idea?,” replied, “open source currency.”

Well now a new P2P digital currency, called Bitcoin, may provide the ideal medium to engage in commerce outside the official economy and  – it’s decentralized, anonymous, and its supply is moderated by a mathematical formula to automatically deflate it over time. A truly dangerous idea.

So what is a Bitcoin?

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Friday, February 11th, 2011  |  2 comments  |  B.J. Kharrazi

Source: MarketWatch | Emily Maltby

Chargebacks are reverse credit-card transactions that can happen when a consumer disputes a charge, if the card is lost or stolen or if there’s a processing error. Business owners are ultimately responsible for the amount charged back to the company. To recoup the loss, merchants must prove to the card company that the transaction was valid, which often can be hard to do.

Small-business owner Dean Thompson recently took a routine look at his company’s bank account expecting to see an increase from the last time he’d checked it. Instead, he saw the balance had dropped by more than $3,000.

The culprit: a chargeback.

In Mr. Thompson’s case, credit-card payments made to his Austin, Texas-based business-services firm, EnterprisingWorks LLC, had been reversed because a customer disputed the charges. To show the charges were legitimate, Mr. Thompson said it took 12 hours in phone calls and paperwork to prove he had done work for the client.

Small Business Charge Backs
Dean Thompson

Chargebacks generally are rare. Less than .01% of all credit-card purchases are disputed, according to Heartland Payment Systems Inc., a merchant-services provider that processes payments for more than 250,000 small businesses. But at small firms, where every dollar counts, even an occasional chargeback can cause big headaches.

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Sunday, July 11th, 2010  |  5 comments  |  B.J. Kharrazi

From American Banker June 24, 2010: With preferences for carrying and using cash continuing to drop, more consumers expect merchants to accept debit or credit cards for payment. But not all merchants do, especially those that lack physical storefronts. Some industry insiders believe mobile-based products might help encourage them to accept electronic payments.

Indeed – Judging from the discussions among peers at recent industry conferences and the spate of mobile-based products and services entering the market, the topic is on the minds of many in the industry as they consider their business plans.

Today, business owners on the go have more options, when it comes to processing credit card transactions, with smart-phone and cell phone credit card processing applications offering the potential for higher sales, faster collections and many fewer bad debts.

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Wednesday, May 19th, 2010  |  2 comments  |  B.J. Kharrazi

source: nacsonline.com

Irked merchants are offering discounts to cash customers as a way to avoid paying higher processing fees, even if that means losing out on the same percentage of profit.  Can anyone blame them?  – BJK

Merchants Swipe at Credit Card Processing fees in Los AngelesBOSTON, MA – Some merchants are offering their customers discounts for purchases made with cash to offset the high costs of card fees, reports the Boston Globe.

Diane Chung, co-owner of Gari Japanese Restaurant in Brookline, launched a “Maki Madness” promotion, offering as much as 55 percent off select maki rolls for cash-paying customers (credit and debit card customers pay full price).

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