The Benefits of Mobile Credit Card Processing

If you run a mobile business, you need a way to accept credit cards while on the road. One of the most advanced mobile credit card processing methods today is actually your cell phone. Whether you own an iPhone or Blackberry, your smart phone or cell phone can be turned into a wireless processing solution that allows you to process credit cards while on the go. How? Through your merchant account provider.

Whether you have a retail or internet merchant account, you can choose from several payment processing solutions to meet the needs of your business. However, for companies on the go — such as food delivery services, tow truck operators, and carpenters — the best way to get paid while out and about is by turning your cell phone into a wireless credit card processing solution. Through such a quick and easy method, you can begin accepting credit cards no matter where your business takes you.  This process can improve your cash flow, reduce the paperwork and time involved with sending invoices, and guarantees you will never receive a bad check again.

If you don’t have a merchant account yet, we invite you to apply for one. The company offers merchant accounts for all types of businesses, including high risk merchant accounts.

Be conscious about your payment history

Among five factors that drive your credit score, your payment history takes the center stage.  That’s why we are going to explore this aspect of your credit score bit further in this article.  Other factors that affect your credit score include balances, your credit history, type of credit and inquiries on your credit account.

Your payment history accounts for as much as 35 percent of your overall credit score and therefore, it becomes very important to pay attention to this.  Credit rating agencies consider certain activities as serious delinquencies.  These include foreclosures, short sales, repossessions, and bankruptcies.  These activities can drive your overall credit score down.  Next to these serious activities, late payments become more important in deciding your credit score.  When taking late payments into consideration being 30 days late is preferable over 60 days late.  Another factor, any recent delinquencies will hurt your credit score more than any delinquencies few years back.

If you are late paying a bill due to whatever reason, pay it as soon as possible.  One other thing, call the creditor as soon as possible about the late payment, they may be willing to not to report the late payment to credit reporting agencies that includes Experian, TransUnion, and Equifax.

How do merchant accounts work

You have no cash in hand but really want to buy the new dress, with a credit card in hand you can buy the dress now and pay for it later simply by swiping your credit card. We almost take for granted the convenience offered to us by credit and debit cards. But have you given any thought as to what happens after you swipe your card or enter a card number to make an online purchase?  At the heart of each credit and debit card transaction there is a merchant account at work, so what is a merchant account and how does it work?

A merchant account is a special type of account provided by a merchant service provider like Solid Trust Pay to a merchant which enables the business to accept payments through credit and debit cards. It acts as an interface between your business and the financial institution that issued the credit card that was used to make the payment.

When a customer makes a credit or debit card payment, the information gathered by the swipe machine or the computer, depending on whether the transaction was a POS (point of sale transaction) or online transaction is transmitted to the merchant service provider at www.solidtrustpay.com that will identify the card issuer who will be notified of the transaction and the money will be deposited in the merchant account by the credit card issuer. The merchant can collect his payment from his merchant account. The merchant service provider will deduct a fee from each deposit made to the account.

The merchant has the option of withdrawing his funds subject to the terms and conditions of the specific type of account he has and these terms would include a minimum amount of money that can be withdrawn from the merchant account.

Opening a merchant account is easy. There are many financial institutions including leading banks that offer merchant banking services and there are also the online merchant service providers like Solidtrustpay who provide a safe and secure mode to make and receive online payments.

Opening a merchant account with Solid Trust Pay is free and can be done within minutes and you have the option of choosing the type of account you need from a personal account if you want to shop online or a business account to accept credit and debit card payments for your online business and if you need to have fraud, loss and chargeback protection you can pick the Solidtrustpay corporate account for the payment of $50.

If you are looking at options to receive credit card payments for your online business go to www.solidtrustpay.com without delay and start accepting credit card payments almost immediately.

The option to pay by credit card will boost your sales considerably and your business can stay ahead of the competition simply by opening a merchant account with Solid Trust Pay.