How to Accept Money Online for Your Business

Starting your own online business is about more than having a website with your products displayed. It doesn’t matter if people love your products if they aren’t able to purchase them when they visit your site. Asking customers to call you or send an email to complete an order often takes people out of the buying mood. If potential customers want to buy your goods, you need to give them a way to do it immediately.

Any online business that sells its products online needs to have the ability to accept online payments. Coming to SolidTrustPay is one step in the right direction, but it’s not the only thing you’ll need to do in order to take your online storefront to the next level. Here are some steps you need to take before opening your business up to online sales:

Open a corporate bank account. If you want to allow customers to make check and charge credit cards to your business’ name rather than to your personal account, you need to open a business bank account. This is also helpful in keeping your business finances separate from your personal finances for tax purposes and to protect your own money against business losses or lawsuits.

Get a business tax ID number. Much like with getting a corporate bank account, having your own business tax ID number allows you to keep your personal finances separate from your business finances. In many states, this is a requirement if you have your own business — even if it’s home-based.

Start a merchant bank account. A merchant bank account serves as the step that allows your customer’s credit card payments to be processing and transferred over to your business bank account. While it was previously the case that merchant bank accounts were very expensive for smaller businesses, this is increasingly not the case. Many merchant banks such as Solid Trust Pay offer solutions that are targeted toward small businesses and start-ups with lower transaction volumes.

Find an online payment system. The last step in the process is to have an online cart system that allows customers to select the items they want and start the purchasing process. Working with a company to create a shopping cart for your site speeds the process of buying up, keeping customers happy and ready to buy.

Why You Should Consider Outsourcing Debt Collection

When you are trying to recoup fees for debts that are owed to you or your company it can be a pain which is why you should consider outsourcing debt collection. This allows you to focus on other important areas while someone else does the hard work for you. Allowing someone else to file all the paperwork and manage how the money is returned will give you the peace of mind of knowing that you will receive the money owed but does not take away from important matters for you.

It can be costly to find the right company to represent you so when looking for reliable companies make sure to check for feedback from previous clients and to ensure that they are able to offer the services that you need at a price that you can afford.

Using a PSI collect agency will help to recoup the fees within a timely manner and using an agency that only collects if you are paid saves you time and money in the long run. Choosing  psi collect agency may seem like a daunting task but with a bit of research you will be able to choose wisely. There are literally thousands for nationwide credit and collection agencies but very few that really can show results and will ask no upfront fee. You want to find only those that you really can trust with moving forward with your collection issues.  The main benefit of debt collection outsourcing is the fact it allows you to get the money that is owed to you without paying anything out of pocket until you do get paid for the collections and it saves you time as well.

Understanding the looming “fiscal cliff”

There is so much talk about the automatic tax hikes and spending cuts going into effect at the begging of 2013 if the Congress fails to address the impending “fiscal cliff” before the end of the year.  All these are caused by the Budget Control Act of 2011 which is scheduled to go into effect at midnight, December 31, 2012.  It will end the temporary payroll tax cuts allowing a two percent payroll tax increase for employees, end certain tax breaks for businesses, start the Alternative Minimum Tax again taking a larger tax bite on income of many tax payers, and end the Bush-era tax cuts.  In addition, a separate agreement spending cuts agreed as part of debt ceiling deal in 2011 will also go into effect causing impact to over 1,000 government programs including the defense budget and Medicare.

The total is expected at $600 billion tax increases and spending cuts.  Tax increases will amount to about $536 billion which will affect all Americans.  Also included is approximately $110 billion in spending cuts including an eight percent cuts to Federal programs and nine percent cuts to Pentagon budget.  The duel blow, tax increases and spending cuts are known as the “fiscal cliff” and it could send the U.S. into a recession.

How Merchants Actually Work And Operate With Credit Cards

Website owners have been hearing about merchant accounts for years now, but many owners still have no idea as to what these merchant accounts do, how they operate, and most importantly, how they can help your business grow and prosper.

Merchant accounts are, in their simplest form, a middle man between your company and the financial institution that needs to approve the payment.  When your customers goes on to your site, the first thing that they are going to do is to decide whether or not they want to buy a product.  Once they decide to make a purchase, they will move to a checkout site where they will have to enter their credit card information and other pertinent billing information.  Once this is completed, they will hit submit.  That credit card information will go straight to the merchant account.  The merchant account operator will then take the information and submit it to the appropriate financial institution for approval. This is the power of a merchant account as it provides a means of accepting credit card payments in a secure environment.

If you decide that you think a merchant account can help you and your business, you should reach out to professional services companies such as Solidtrustpay. If you want to grow sales, a merchant account is a great starting point. Solid trust pay has worked to compile a suite of products that will help you accept credit card payments in a secure environment and with ease so that you can increase sales.