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Electronic Invoicing and Payment | Make it easy to get paid

Posted by Alex Neir on Tue, October 25, 2011 @ 01:36 PM
Electronic Invoicing and Payment | Make it easy to get paid

Wouldn’t it be great if you could email your customers an invoice with embedded payment options? It seems like and easy and obvious choice but many businesses today still mail paper invoices and expect a check for payment. Think of all the saving an electronic solution provides. Save the paper of the invoice and envelope, save the cost of postage, save the gas and time it takes to travel to the bank to deposit checks.

With Maxx Merchants Electronic Invoicing you have an easy to use, professional and cost effective electronic invoicing system that allows your customers to pay via credit card or check. Our system gives your business the ability to create line-by-line detailed invoices.

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Invoices are emailed in .PDF format with an embedded link for payment processing. All payment information is collected via our secure payment gateway so the business is not responsible for handling sensitive customer information or exposed to PCI compliance issues. Invoices are stored within the payment gateway for easy retrieval, review, editing or re-presentment.

There is no limit to the number of invoices that can be created and the business does not need a website or to integrate the solution into a website to process payments.

Electronic Invoiceing
Simple and Intuitive
Manage your resources Real Time Invoicing
Secure invoicing Invoice reporting
Full or pertial payment support Multi-currency and tax support


Tags: Electronic Payment System, Payment Processing, Electronic Invoicing

Business Payment Processing: Making Payment Transactions Easier

Posted by Alex Neir on Tue, October 11, 2011 @ 11:06 AM
Payment Transaction

Credit and debit card processing for businesses is almost a necessity for today's payment transactions. A venue without credit card processing is guaranteed not to get as much business as a competitor allowing this method of payment. Utilizing credit card processing will make payment much simpler, more efficient and more convienent for customers.

How Credit Card Processing Can Speed Things Up

There are several stages of credit card processing. The order in which the transaction is processed changes depending on the card issuer, easing the transaction itself while guaranteeing quick payment:

  • The first stage is authorization. This is performed quickly through any credit card processor and determines whether the card is approved or declined for the purchase.
  • The card is then authenticated by the banks using Card Security Codes and address verification and a PIN number in order to prevent fraud.
  • Capturing will occur just before settlement, when transaction data is collected and sorted out.
  • Next the transaction is cleared and settled, when the card issuer and the processing bank complete a payment transaction by sharing the transaction information and depost the transaction funds into the businessess account.

As a business, the only requirement is selecting a credit card processor that meets your business needs and works with either PIN-based or signature-based methods of card acceptance. PIN-based card acceptance is a more secure than PIN-less, it also costs about the same. As a merchant, learning how to handle credit cards is as easy as a 15 minutes conversation with a respectable processing firm.

Most of the major credit card companies' payment transactions are pretty much the same, though the transaction cycle itself may vary. Possessing a credit and debit card processor should speed your payment process up and save the consumers time during transactions as well. Along with swiftness of payment transactions, the minimal personalized credit card rate can also be available for every purchase using a trustworthy interchange-plus system. This can help to lower the price of processing in the end.

The right processing provider will ensure that a merchant account is created and that the business can initiate credit and debit card processing. Once this is done, payment transactions should be easier than ever.

Tags: Payment Processing

Payment Processing Solutions for Every Business

Posted by Alex Neir on Tue, September 20, 2011 @ 12:24 PM
Payment Process

Payment Processing Solutions for Every Business

Every business needs a payment process that is convenient, well structured and dependable. The right process will save you time, will be cost effective and will eliminate potential issues from occurring. 

For Any Business

Whether your business is in retail, media, sports, health, etc., they can all benefit from credit card payment processing. This payment process is suitable for any business.

  • Retail - Merchandise is purchased and sold from an established and fixed location.
  • eCommerce - Used for buying and selling products and/or services via electronic systems, such as the Internet and other PC networks.
  • Mail Orders / Telephone Orders - The main source of income for a merchant is provided through mail and telephone sales.
  • Wireless - Wireless processing is utilized by merchants who operate their business remotely. A mobile business needs the ability to effectively process wireless payment transactions.

With the right service you will receive:

  • Experience - The right payment processor will have the experience and know how to efffectively deal with and meet any need that may arise.
  • Exceptional customer service - The right processing service will be available to answer any questions or concerns 24 hours a day, 7 days a week.
  • Expert Chargeback Management - Working with the merchants to decrease the amount of chargeback conflicts and disputes, as well as supply adequate procedures for payment processing.
  • Effective Fraud Prevention Tools - The right processor will effectively combat fraud. A good process will help to reduce fraudulent transactions from occurring. The processor will support systems including, MasterCard SecureCode, Verified by Visa, the Card Security Codes (CVV2, CVC 2, and CID) and the Address Verification Service (AVS).

The Takeaway

Merchants must be diligent in their search for the appropriate payment processing solution for their business. The right processor will be able to suit your needs and will provide the most efficient solutions. The ideal processor will have a well maintained processing structure, will meet specific areas of expertise and will provide excellent rates.

If you would like to speak to a represenative at Maxx Merchants to discuss a customized solution specifically addressing your businesses unique needs please call (800)917-8026. Or shoot us a messaage on our contact us page.

Tags: Interchange Fees, Merchant Account, Mail and Telephone Order, Payment Processing, Internet Credit Card Processing

Credit Card Processing in Denver, CO

Posted by Alex Neir on Tue, June 28, 2011 @ 06:52 AM
Credit Card Processing Denver

Credit Card Processing in Denver, CO

Is your business located in Denver or the surrounding areas? Are you looking for local credit card processing in Denver? Do you want the added comfort of a local business that is able to respond personally to any issues you may have?

Maxx Merchants located in Denver is a premier provider of credit card processing. Founded in 2001 Maxx has consistently maintained a top 5 standing with Wells Fargo for merchant retention. In other words Maxx Merchants consistently exceeds customer expectations when it comes to credit card processing.

Maxx Merchants offers a full line up of credit card processing products for the Denver market. Some of which include:

Our sales staff is required to maintain a rigorous understanding of our entire product suite with detailed comprehension on how to adapt each product to the specific needs of each business. Every sales associate maintains a working relationship with the business / merchant for life of the account. This attention to customer service ensures each business is set up correctly and is well cared for.

In addition to a dedicated sales representative each business has 24 hour a day 7 days a week access to technical support. Maxx’s tech support is US based, live, English speaking personnel that have direct access to the bank-end credit card processing network. This results in first call issue resolution. If your account experiences difficulties you are 1 call away from a resolution.

Our attitude is the customer comes first. We will do everything in our power to make sure your experience with credit card processing is a good one. Please allow us to show you how integrity, professionalism and attention to detail translates to a partnership for your credit cards processing needs.

Tags: Merchant Account, Credit Card Processing Denver, Payment Processing

QuickBooks Merchant Account Plug-In

Posted by Alex Neir on Thu, May 26, 2011 @ 07:08 AM
QuickBooks Merchant Account

QuickBooks Merchant Account Plug-In

Does your business use QuickBooks and would you like an integrated payment processing platform that lets you accept credit cards and ACH payments? The Maxx QuickBooks Merchant Account Plug-In is extremely easy to use and makes it very simple for any business using QuickBooks to easily process electronic transactions without ever leaving your QuickBooks environment.

The Maxx QuickBooks Merchant Account Plug-In installs directly into QuickBooks Pro, Premier and Enterprise edition software applications and provides a direct interface within QuickBooks to apply electronic payments. Payments can be applied to specific invoices, against open invoices or against a new sales receipt. Additionally, multiple payments can be applied to a single open invoice at the touch of a button. 

The plug-in is completely PCI-DSS compliant as all credit card and ACH account numbers are encrypted and masked within the application. The plug-in also has built-in functionality that allows for customer credit card and ACH account numbers to be recalled for subsequent transactions.

Both card present swiped transactions and card not present keyed transactions are supported within the plug-in. For swiped card present transactions, customer credit card information is loaded directly into the plug-in for processing. All customer data is loaded from the customer record from within QuickBooks.

The Maxx QuickBooks Merchant Account Plug-In adds integrated payment processing directly to your QuickBooks installation for easy payment application. Please give us a call at (800)917-8026 to learn more.

Tags: QuickBooks Merchant Account, Payment Processing, Credit Card Processing Solutions

Top 7 benefits of accepting credit cards for your business

Posted by Alex Neir on Thu, May 19, 2011 @ 02:12 PM
Accepting Credit Cards

Top 7 benefits of accepting credit cards for your business

Credit cards are one of the most accepted payment systems for the purchase of goods and services that add ease and convenience for both buyers and sellers. Lets look at how businesses can benefit by accepting credit cards as a mode of payment.

  1. According to the researchers on consumer’s habit, people using credit cards to make purchases are mostly impulsive by nature. The average credit card user buys 2.5 times more than people who use other forms of payment. The obvious conclusion, any business that offers the convenience of credit cards as a form of payment can increase their revenue.
  2. When you accept credit cards as a way of transacting payment, it creates a sense of security in the mind of your customers. If the product does not live up to the standards for which it was advertised, there is a dispute process in which the customer can get their money back.
  3. It has been proven that credit cards help to enlarge the sales of a business by embracing a wider customer base. The ease and convenience of using a credit card to pay, plays a significant role in generating greater sales.
  4. Companies that offer an online purchase option from their websites enable greater hours of operation. Credit card payment from the website allows for business automation that results in greater sales with less expense.
  5. International sales become easy with an international merchant account. An off shore international account allow for sales to be completed in native currency with deposits linked to a single account in any desired country.
  6. Credit card transactions are processed in real time. So settlement is quick and easy without the need for complicated account receivable management.
  7. Setting up a credit card merchant account takes less than 24 hours. 

Tags: Merchant Account, Accepting Credit Cards, Payment Processing

Credit card processing, a bad experience

Posted by Alex Neir on Thu, May 05, 2011 @ 03:06 PM
Credit Card Processing

Credit card processing, a bad experience

Like many things in life, individual experience with credit card processing shapes an opinion of the industry. More often than not, that experience is greatly influenced by the sales representative that was hired to complete the account set up. If your business has had a bad experience with a credit card processing account, the rep was most likely the reason!

Why was the rep the reason for a bad experience?

Within the credit card processing industry the vast majority of companies setting up accounts are referred to as Independent Sales Organizations (ISO), with the actual underwriting and functions of the account being handled by a credit card processor. The relationship between the ISO and the credit card processor is outlined in a contract between the two entities. The contract spells out the agreement and terms for which the ISO is able to sell credit card processing.

Each ISO negotiates their contract with the credit card processor individually to determine the specifics of the service the ISO is able to sell. Things like the commission payout, price, quota, and restrictions are all specific to each ISO’s contract. What this means is that a sales representative for one ISO may be able to waive the monthly minimum fee and annual fee on a credit card processing account while another representative, working for the same processor, can not.  

Another major aspect of a perceived bad experience with credit card processing has to do with the price. Again, it’s important to understand that the price is a function of the contract in place with the processor. The sales representative your business works with has clearly defined pricing established with their processor. In order for the sales representative to make money they must “mark-up” the resale rate offered to your business. Therefore, if you feel like you have been taken advantage of, it is likely that the sales representative you are/were using had poorly negotiated contract pricing, or they are/were greedy. 

Therefore, it is exceedingly important to select am ISO and sales representative that is able to set their own pricing. A good organization will be able to work directly with your business to customize a pricing structure that meets your businesses specific needs.

Another important item for consideration when selecting an ISO and sales representative is how they conduct their business. Your sale representative shouldn’t disappear once the credit card processing account has been approved and set up. Your sales rep should be available to consult your business on best practices, issue resolution, account maintenance and general support. Your credit card processing account should be a health relationship built on trust and responsiveness for as long as the account is active.

The credit card processing account agent you select functions as your ambassador and advocate for the life of your account. Selecting the right one can completely alter your experience and ultimately change your perception of the industry.

As a wholesale ISO, Maxx Merchants has established themselves as a leader in the credit card processing industry with exceptional pricing and the industries best customer service. Allow me the opportunity to set up your account and I guarantee your expectations will be exceeded. Contact me directly at (800)917-8026.

Tags: Merchant Account, Payment Processing, Bad Experience with Credit Card Processing

How long does it take to get a credit card processing account set up?

Posted by Alex Neir on Tue, February 15, 2011 @ 12:55 PM
Credit Card Processing Account Cards

How long does it take to get a credit card processing account set up?

The time it takes to get a credit card processing account set up depends on a few factors but can usually be set up in as little as 24hrs to as long as 2 weeks. The factors that determine the length of time it takes to get a credit card processing account set up are as follows and generally revolve around risk:

  • Type of business
  • Industry of the business
  • Requested account volume
  • Financials

The type of business affects the time-line of approval on a credit card processing account. Retail businesses are much quicker to set up than on-line business. This is due to the fact that a retail business is less likely to disappear over night. Therefore there is less risk associated with a retail location making it easier and quicker to set up.

The industry of the business can have dramatic effects on the length of time it takes to get an account set up. The more risky the businesses industry the longer the processes takes. This is due to the fact that additional scrutiny in need to determine how the business is functioning in the industry. Traditional high risk accounts include; credit consolidation, continuity, debt reduction, porn, gambling, bail bondsmen etc.

The requested account volume is the total dollar amount of credit card sales the business is asking for on a monthly basis. The higher the requested amount the more analysis is needed to determine if the business can cover the line of credit and therefore lengthens the time needed for approval. For more information please see why is a merchant account a line of credit?

The businesses financials are also a determining factor in the length of time it takes to get a credit card processing account approved. If the business has strong financials is speeds up the process dramatically. 

Credit Card Processing Account

For more information of setting up a credit card processing account please refer to our guide on how to avoid costly mistakes when setting up a merchant account.

*Image provided by Andres Rueda

Tags: Credit Card Processing Account, Merchant Account Education, Payment Processing

6 Reasons Your Business Should Offer Gift Cards

Posted by Alex Neir on Tue, December 14, 2010 @ 03:29 PM
Gift Card Acceptance
The National Retail Federation (NFR) has recently released a new study that indicates gift card interest among consumers continues to rise. The study reports that consumers will purchase more gift cards this year as compared to 2009. The average amount spent this year is up 4% to $41.48 and it is estimated that 77.3% of all American shoppers will purchase at least one gift card this holiday season.  

Gift cards continue to be one of the most popular and most requested items. With such popularity it is surprising that more merchants don’t offer gift cards at their businesses. This may be a function of the perception of many merchants that only large retailers or big box stores can offer gift cards. This is not true as it is very easy and inexpensive to implement a gift card solution.

So what are the benefits of offering gift cards?

  1. Money Upfront: Money is received upfront with product and service fulfillment at a letter time.
  2. Customer Loyalty: Gift cards ensure repeat business as the patron will likely return to redeem the card.
  3. Increased Customer Base: Most gift cards will be given to friends, family, colleagues or acquaintances, furthering business brand awareness.  Additional patrons give you the ability to build on these relationships and forge future business.
  4. Word-of-Mouth Marketing: Gift card purchases represent an endorsement of your products and services. Most customers that purchase a gift card are excited about the product an service and want others to experience it.
  5. Purchases Above Face Value of the Card: Studies show that customers typically spent more than the face value of the gift card.
  6. Lack of Redemption: Not all gift cards get redeemed which results in more revenue toward your bottom line.

Interested in getting a gift card program started? Let us show you how.

Tags: Merchant Account, GIft Cards, Payment Processing

Good rate on a merchant account? Your average sale will tell you.

Posted by Alex Neir on Tue, September 28, 2010 @ 02:32 PM

A common question often asked is “What’s a good rate on a merchant account?” The question seems simple and straight forward but in actuality depends greatly upon the average sale amount of the merchant.

The reason for the dependency has to do with the way in which merchant account rates are applied. There are two components that make up the charge total for each transaction completed by the merchant. The first component is a percentage charge and the second is a fixed per transaction fee.

Both the percentage amount and per transaction fee can be negotiated with your merchant service provider. Knowing your average sale amount gives you the ability to determine which component of the charge total is most important in keeping your costs down.

Let’s look at an example to see how a merchant’s average sale affects their total processing costs. In the examples listed below the sales volume for the month is $10,000.

What's a good rate on a mercahnt account

What’s a good rate on a Merchant Account?

Analysis of these two graphs tell us a couple of things. If your business has a low average ticket then savings are most abundant through lowering your per transaction cost. On the other side, as your average ticket grows (great than around $80) savings are going to be greatest through a reduction in the percentage component of your overall rate.

Knowing how your average ticket amount affects your total processing cost is helpful when considering a merchant services proposal. This is a very good example of why shopping for the lowest advertised rate will not always result in the lowest processing costs.

Tags: Payment Processing, Good Rate On a Merchant Account