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Other Added - A Quick Guide in Payment Processing Services and Terms
What’s the difference between a great voicemail message and one that’s lacking (and therefore stands less of a chance of getting returned right away, if at all)? It comes down to whether you “gave good voicemail” … or not! Wouldn’t it be great if there were official voicemail rules people had to follow? Here are some of the most effective ideas I’ve found on leaving effective messages, avoid wasting the time of the recipient – and having a better chance of getting your call retur
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you s
Business has never been better. Word of mouth finally seems to be spreading, every seat in the restaurant is full, you’ve even hired extra staff. So, what now?If you’re like a lot of small business owners, you’ve been wondering about the benefits of incorporating. But is it really necessary? While things may be going smoothly now, the main reason most people form a legal business entity is to safeguard their personal assets. When you incorporate your business, or form a Li
These 3rd party payment processing solutions give the seller a link to a secure webpage where they can redirect their customers to, for completing the order. While the method has many benefits, it also has disadvantages.
Below I would like to make an introduction of the basic terms and concepts used by the standard payment processing services, to help sellers Understand better what they need to compare when choosing an payment processing service.
Payment Cycle
- the time interval during which orders are taken for one payment. Can be monthly, bimonthly, weekly, etc. After each payment cycle ends, the payment should be sent to the seller.
Payment Hodling Time
- unfortunattely every payment processing service deliberately holds the payment for an amount of time that varies between a few days up to several months. They do not send the payment immediately after the payment cycle has ended, but instead they hold the payment for the specified payment holding time. They say this is to protect them against fraud, chargebacks, and it also helps them with increasing their profit ( by holding the money in bank for an interest ). For example, for a monthly payment cycle and a payment holding time of 15 days, the money resulting from orders during October will be sent to you on or after 15th November. This is not a big issue if the payment holding time is not long, but some services have a payment holding time of 2 months or more, and you will receive your payment for October sales in January the next year.
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you sp
Part 1 of Having a Successful BusinessIn this series, it’s important to show that successful people aren’t better than you; they just made better decisions. This section will see if you’re ready to go out build a better future.Have a little fun at work tomorrow with some of your co-workers. Go up to about three to five people and ask them what they plan on achieving in the next ten years.It’s a safe bet that these same people YOU ask for important advice wi
These 3rd party payment processing solutions give the seller a link to a secure webpage where they can redirect their customers to, for completing the order. While the method has many benefits, it also has disadvantages.
Below I would like to make an introduction of the basic terms and concepts used by the standard payment processing services, to help sellers Understand better what they need to compare when choosing an payment processing service.
Payment Cycle
- the time interval during which orders are taken for one payment. Can be monthly, bimonthly, weekly, etc. After each payment cycle ends, the payment should be sent to the seller.
Payment Hodling Time
- unfortunattely every payment processing service deliberately holds the payment for an amount of time that varies between a few days up to several months. They do not send the payment immediately after the payment cycle has ended, but instead they hold the payment for the specified payment holding time. They say this is to protect them against fraud, chargebacks, and it also helps them with increasing their profit ( by holding the money in bank for an interest ). For example, for a monthly payment cycle and a payment holding time of 15 days, the money resulting from orders during October will be sent to you on or after 15th November. This is not a big issue if the payment holding time is not long, but some services have a payment holding time of 2 months or more, and you will receive your payment for October sales in January the next year.
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you s
With all things considered, there is really not much choice but to accept credit cards online. This makes it much more convenient for not only the customer, but yourself as well. Because of the necessity of accepting credit cards online, it is important that you know the options available to you to accept credit cards. On top of that, you need to know which the better fit for your business is.There are two methods of accepting credit cards online, using your own merchan
Payment Cycle
- the time interval during which orders are taken for one payment. Can be monthly, bimonthly, weekly, etc. After each payment cycle ends, the payment should be sent to the seller.
Payment Hodling Time
- unfortunattely every payment processing service deliberately holds the payment for an amount of time that varies between a few days up to several months. They do not send the payment immediately after the payment cycle has ended, but instead they hold the payment for the specified payment holding time. They say this is to protect them against fraud, chargebacks, and it also helps them with increasing their profit ( by holding the money in bank for an interest ). For example, for a monthly payment cycle and a payment holding time of 15 days, the money resulting from orders during October will be sent to you on or after 15th November. This is not a big issue if the payment holding time is not long, but some services have a payment holding time of 2 months or more, and you will receive your payment for October sales in January the next year.
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you s
Although knowing how to fight fires and use fire extinguishers is important, the best tool to fight fires is fire prevention. If you can take adequate steps to avoid the dangers of fire and detect the signs early then you are much less likely to be involved in a serious incident.Fire prevention ranges from knowing how to install smoke alarms to dialling emergency services and knowing emergency numbers. It also includes knowing where particular fire hazards are located and
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you s
Developing a resilient mindset of a millionaire by re-wiring your subconscious for wealth creation we will need to answer a few simple questions about financial pressure. When I refer to financial pressure I’m not necessarily talking about being broke and struggling. You can be wealthy and still have financial pressure. There is no right or wrong answers, only answers applicable to you.1. When was the last time you felt financial pressure?2. Do you current
Payment Processing Day
- is the date of the month ( for montly payment cycles ) when the payment cycle should end, and the payment calculated. Usually this is the last day of the month, but some services let you specifically set it.
Signup Fee
- the fee for signup. Some charge non-refundable fees, other application fees, other do not charge a fee at all.
Transaction Fee
- the per transaction fee, usually a percentage with a minimum fixed value.
Chargeback Fee
- when a chargeback occurs ( it happens in case of fraudulent orders or when the customer is not satisfied with the product ) not only that the payment processing service takes back the amount of the order, but it also charges you with a chargeback fee.
Some payment processing services have additional fees, such as product download fee ( for virtual goods ), monthly fee, statement fee, refund fee, wire transfer fee, contract canceling fee. You need to ask them about all these fees, because most services do NOT clearly specify it on the website nor in easy to find documentation; and you might have unpleasant surprises later if you do not. Especially with the payment holding time, it's disappointing to expect to receive the first payment just to find out that it will be sent to you months later.
It is a good practice to read the TOS ( terms of services ) and the contract before signing up, as many payment processing services state they reserve the right to terminate or suspend their services to any customer, for any and no reason at all, without notice, and they also state that the last payment will be held 6 months, for chargeback protection.
You can learn more on www.ordersoft.net
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