Everything You Need To Know About Recurring Payment System

Recurring Payment System

Living in this technologically advanced time, we must admit that the ecosystem of business models has been changed. People are choosing smart methods to make payments and therefore, merchants are also coming up with smart payment equipment. Anyway, we are not going to talk about different payment equipment. At present, there are different ways of making online payments and among them, the recurring payment system is very remarkable. Now, if you want to start a subscription-based business model or. If you are already running such a business, you must know about a recurring payment system. It will be the best way to receive payments from your customers. Anyway, if you do not have a concrete idea about this payment system. You will not have to worry as we have made a brief breakdown of this payment system. So, you should not skip the points mentioned below:

Recurring Payment System

The recurring payment system is one of the core features offered by. The payment gateways to help merchants process recurring payments efficiently and without delay. This payment system basically allows the merchants to schedule future payments of a recurring nature such as monthly or weekly payments using the payment information collected from a customer. Thus, at the moment of sign up, the customers can get charged right away for the first month of service he or she is subscribing to. After that, he or she can see the payment repeat on their credit card on the same day next month. And the months after, until the service is cancelled.

The recurrence and terms of the future payments can be generally configured to reflect the needs of the particular merchant. This functionality is critical especially for subscription model-based businesses that are looking to collect payments on some recurring basis and make overall clients’ billing experience fast, easy and secure.

Brief Breakdown Of Recurring Payment Or Subscription Payment

Before getting into the subscription payment or recurring payment system, you must know what subscriptions are. Well, they are basically agreements that. The customers make in order to pay for something up front that they are going to receive regularly. When it comes to the naming convention, you will hear recurring payments, subscriptions, recurring billing, subscription models, recurring models and many more. Talking about the subscription services, it could be internet service, gaming, music streaming service, cloud storage service, dating app service many more. There is a subscription for these things and you have probably experienced what subscriptions look like.

Now, when you are on a website subscribing to a service, you will see the plan, price and payment interval time. It could be weekly or monthly. Well, nowadays, most service providers are coming up with trials and therefore, you will not be charged instantly even after subscribing to the service. After the trial period is over, the merchant processor will deduct the recurring payment or subscription payment from your credit card.

How Recurring Payment System Works

Well, the ecosystem of the recurring payment system is quite complicated. New merchants might have a problem understanding this. This is why we have explained this in the easiest way. So, have a look at the following points.

So, you will have your customer with their payment details, and they make an initial payment. After that, there is a periodical charge made until the customers decide to cancel the subscription or the merchant decides to end it. Well, top payment processor such as International Payment Solutions makes sure that this process continues automatically. Thus, the merchant and the customers can sit back and relax.

The merchants can focus on delivering excellent products and the customers can enjoy those services and products.

How You Can Master Subscription Model

For a merchant, it is very important to understand the recurring payment system. In order to do this, you will have to understand plans. It is the heart and soul of subscriptions. So, what plans are?

Plans are how merchants describe your rebilling strategy and it also describes at which and at what cost you want to charge your customers. You can add different recurring billing plans on your website and the good thing is that customers can change to other plans instantaneously. It makes the entire recurring payment system more flexible. Apart from these, merchants can also provide free trials to their consumers. Merchants can also provide discounts to their customers. It can ultimately help you to achieve more customers. In the end, you will see good cash flow in your business.

Not An IPS Merchant?                                      

As of now, you have understood what a recurring payment system is and how you can master this recurring business or subscription model. Anyway, you must have a merchant account to get all the funds. This is why you need a renowned merchant processor. International Payment Solutions is one of the best payment processors and it ensures that you and your customer do not face any problems while using this service. So, why are you waiting? Become an IPS merchant today.

Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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    How Online Payment Gateway Is Simplifying The Process Of Accepting Credit Card Payments

    Online Payment Gateway

    Living in this technologically advanced period, we must admit the fact that the popularity of the online marketplace is increasing. Yes, people all over the world are giving importance to digital transactions and therefore, offline merchants are facing difficult times. Talking about this pandemic situation, the graph of the cash flow of the offline merchants has gone down. On the other side, merchants having access to digital payment systems have not yet faced any problem. However, when it comes to a digital payment system, an online payment gateway plays a very important role. Most merchants do not know what an online payment gateway is. We at International Payment Solutions understand this very well. This is why, here, we have made a brief explanation of this thing. So, if you want to know more about this thing, you are in the appropriate place. Have a look at the following points:

    Brief Breakdown Of Online Payment Gateway

    An online payment gateway is a kind of software application that payment service providers use to process payments for online purchases originating on a merchant’s website. It basically acts as an interface between the merchant’s website and a payment processing bank known as acquiring bank. Generally, an online payment gateway can be used for processing different types of payments. But, here, we will focus on online credit card payments.

    How Online Payment Gateway Works

    The gateway actually encrypts sensitive credit card details to ensure that information is passed securely between the customer, the merchant and the acquiring bank. When a customer buys products or services on a website that is actually connected to the online payment gateway, the gateway actually performs a wide range of tasks in order to process the credit card transaction. Once the customer places their order on the website of the merchant, they choose to pay or checkout. Then, it redirects the customers to a payment page to enter their credit card details. If the merchant is fully compliant with the required security standards, the payment page can be generated on the merchant’s servers and the card information is collected. Then, it gets passed on to the payment application in a very secure way.

    Well, the merchant can also generate the payment page with the help of the payment gateway application. Information can also be collected from this page. In short, this advanced technology stores the card and the transaction details on the secure surface of the payment gateway. From there, the payment gateway processes the credit card transaction. It sends all the information to the issuing bank for approval via the acquirer and the relevant card scheme. Once, it gets confirmed by the card schemes, the payment gateway sends the approved transaction back to the merchant’s website. Then, the merchant informs the customer that the purchase has been successfully completed.

    Well, it is also a fact that the online payment gateway performs multiple tasks. But, when it comes to credit card payment, these are the main steps to process a transaction. It is also surprising that this entire process only takes three to four seconds.

    Advantages Of Online Payment Gateway

    Online payment gateway actually adds a whole load of value throughout this process. Here, we have added some of the key features.

    • A normal merchant cannot connect to an acquiring bank directly. Therefore, a payment gateway is the most common way for a merchant to connect to the payment system.
    • Payment gateway transaction fees are very small compared to the advantages they offer in helping a merchant connect to an acquirer. Apart from this, it helps to manage their business and mitigate as well as control the risks associated with accepting online credit card payments.
    • A good payment gateway will provide the merchant with many customizable reporting options. These things will help the merchants to manage their business in a very efficient way.
    • A good payment gateway can process different payment methods.
    • In terms of security, you will also get satisfactory results. Top payment processors use a highly secure PCI DSS Level 1 compliant gateway. So, you will not have to face any kind of fraudulent activity when it comes to accepting online credit card payments.

    Online payment gateway also provides some other advantages. It

    • Provides fraud management
    • Supports recurring billing
    • Enables different payment options
    • Delivers faster, reliable and secure payment processing experience
    • Provides easy checkout

    If you enable a payment gateway, you can also see huge growth in the cash flow. Moreover, the customer base of your business will become stronger. Even, after this crazy situation, you can happily run your business.

    Not An IPS Merchant?

    By now, you have understood how an online payment gateway is simplifying the process of accepting credit card payments. Now if you want to add this service to your business, you need to become a merchant of reliable payment processors such as International Payment Solutions. It is a very reliable platform that will help you to run your online business without any complications. So, do not wait; join it today.

    Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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      How Gift Card Program Can Give Your Business A Solid Elevation

      Gift Card Program

      After the advent of this pandemic situation, the merchants are dealing with various complicated situations. Especially, if we talk about small merchants, they are not seeing the growth in their business cash flow. Amid this situation, merchants should go with various efficient business strategies in order to cope up with this difficult situation. In fact, businessmen are utilizing new business plans to continue the business operations. Well, merchants are turning their brick-and-mortar business structure into an online marketplace in order to attract more consumers. Anyway, there is one remarkable addition that merchants can do. Yes, we are talking about the gift card program.

      Standing in this modern era, we must admit the fact that a gift card is not only considered as a mere gimmick. In fact, a gift card program can add a lot of convenience to your business operations. Yes, it is one of the pocket-friendly ways through which one can increase overall business sales, brand value, and many more. As of now, you have probably seen that top merchants have already started using the gift card program. But, when it comes to small merchants, they have not yet fully embraced it. We at International Payment Solutions understand this very well. It is a fact that small businessmen are trying their best to keep their heads above water. Amid this situation, they might be thinking that gift card program is another time-consuming and complicated process. Anyway, here, we have explained how gift card program can give your business a solid elevation. So, do not skip the following points:

      Gift Card Program And How It Works

      Gift card program has become an essential part of any business. Therefore, it is very essential to know how gift card actually works. Well, gift card is nothing but a form of payment and customers can use it to make transactions at restaurants, gas stations, retail stores and many more locations. As a merchant, you load a balance onto the gift cards and provide you, consumers. Consumers can use those cards only at accepted locations.

      Talking about the type of gift cards, it can be either closed-loop or open-loop. In the case of the open-loop gift card, you can use it anywhere. If your gift card has the logo of Visa, you can use it at those places where merchants accept visa cards. Now, on the other side, if we talk about the closed-loop gift cards, these gift cards can be used only at selected merchants. For example, if you have Amazon gift cards, you can only use those gift cards at Amazon.

      Digital Gift Cards Vs. Physical Gift Cards

      As we are talking about gift card programs, we must highlight the difference between physical gift cards and digital gift cards. If we talk about the digital gift cards, it does not have any kind of physical form and here, the consumers only get a number instead of a card. They can use those unique numbers while shopping online. This is how one can redeem digital gift cards.

      Now, physical gift cards or plastic gift cards come in physical form. If you have open-loop physical gift cards, you can use those at any store. If you have closed-loop physical gift cards, you can only use them at specific stores. Apart from these, you can also redeem them at online marketplaces. Top companies such as Walmart, Amazon and others are offering digital as well as physical cards. Popular restaurant chain businesses such as Chili, Chipotle and Starbucks are also offering the same thing.

      Benefits Of Starting Gift Card Program

      By now, you have got a concrete idea about the gift card program. Now, you must know the benefits that this program is offering. Well, here, we have added some benefits of starting a gift card program. So, do not skip the following points:

      • Branding: The gift cards will have the logo and name of your business. So, it will mark a solid impression. Nowadays, things that are coming up with logos and names of businesses are creating a good impression. Instead of gift cards, if you give personalized bags, the impression will be the same. But, gift cards have their own advantages and this is why the popularity of this gift card program is increasing day by day.
      • Boost Sales: Well, when you are offering gift cards, you are making them your repeat customers. The customers will visit your shop again to redeem those gift cards. According to a survey report, customers spend more when they shop with gift cards. In the end, it will boost sales and you will see a stable cash flow in your business.
      Not An IPS Merchant?

      International Payment Solutions is a very popular online payment processor. This virtual platform allows its merchants to run gift card programs efficiently. So, if you want to enable this program in your business, you must visit International Payment Solutions today.

      Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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        How Merchants Are Elevating Their Businesses Using Digital Payment Processing Services

        Digital Payment Processing Services

        We cannot ignore the fact that electronic payment modes are changing the ways merchants used to do business. Yes, living in this technologically flourished period, the customers, as well as the merchants, must understand the advanced ecosystem of electronic payment systems. These are reliable, secure and they are adding a lot of convenience to our daily lifestyle. Customers who have access to electronic payment modes did not have many complications during the pandemic situation. Well, the scenario is the same for the merchants who have paired their business with advanced payment systems. When we are talking about electronic payment modes, we must talk about digital payment processing services. Yes, without having these services, the businessmen will not be able to receive payments from the customers.

        Digital payment processing services are playing a very important role in this 21st century. They are assisting merchants so that they can elevate their business flawlessly. When we are talking about digital payments, we are actually referring to making payments in cafes, restaurants, online websites and brick and mortar marketplaces. Digital payment processing services basically allow businessmen to receive card-not-present payments as well as card-present payments. Card-present payments refer to those payments where the physical appearance of the consumer along with their cards is required. On the other side, card-not-present payment refers to online payment. It means that customers can easily make payments from their houses. Over the course of time, the popularity of the cashless ecosystem is increased. Yes, people have now understood why it is so important. Still, there are many people who have a misconception about this digital payment system.

        How Digital Payment Processing Services Work

        Unfortunately, there are many people who do not have concrete knowledge about this payment processing service. We at International Payment Solutions know this very well. This is why we have explained the ecosystem of these digital payment processing services. So, online payment processing services basically process online credit card payments. The merchants need to open a merchant account for receiving online payments from the consumers. There are various online payment processors that are offering merchant account. The digital payment gateway plays a key role here. The payment gateway securely sends the information to the payment processor.

        After that, this financial organization deals with both- banks and credit card companies. The bank gives the approval and then, the merchant processor does the payment settlement. Anyway, it is a real-time process and so, the customers will get the ultimate satisfaction. On the other side, the merchants will be able to elevate their business operations. Digital payment processing services eliminate a lot of business complications. Yes, you have heard it right. Here, we have explained the advantages of having digital payment processing services. So, do not skip the following points:

        Basic Benefits Of Using Digital Payment Processing Services

        The basic benefits of using digital payment processing services are as follows:

        • Saves A Lot Of Time: The best thing about digital payment processing services is that it saves a lot of time for both the customers as well as the merchants. Making a payment using credit cards, mobile wallet is faster than offline payments such as cash transactions, paying through paper checks, and many more. The customers will not have to dig into their mobile wallets to make payments.
        • More Efficient: Well, when digital payment is faster than offline payments. Therefore, the consumers will not have to stand in the queue for a longer period of time. You do not need a lot of staff at peak time. Moreover, you can use those staffs in different sector in order make the overall business operations smoother and more efficient.
        • More Secure: When your business is dealing with online payments instead of cash payments, the chances of having robbery will be mitigated. Apart from this, your business will not have to deal with human errors. With less cash handling, you can complete the transactions quickly. In the end, you can see a positive upon your business turnover.
        Advantages For Customers

        Well, the digital payment processing services are adding a lot of convenience to the lives of the consumers as well. Yes, the advantages that consumers will get are as follows:

        • Eliminates All The Purchasing Obstacles: Well, in the case of offline transactions, the customers face a lot of problems such as standing in the queue for a long period of time, errors while making cash payments, and many more. But, such a thing does not happen in the case of digital payments. Yes, everything becomes smooth and secure.
        Not An IPS Merchant?            

        Well, as a merchant, you have probably realized how digital payment processing services are helping them to elevate their businesses. International Payment Solutions offer such a service. It is a very secure and reliable platform as well. So, if you want to enable this service in your business, you can get in touch with them.

        Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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          How Online Payment Terminals Helping The Businessmen To Grow Their Business Operations

          Online Payment Terminals

          Online payment terminals are helping businessmen amid the COVID-19 pandemic situation. Small merchants are playing an important role in the economy of any nation. But, this present pandemic situation has hampered the growth of their business. Moreover, it is making the problematic situation for the consumers as well. So, analyzing this situation where the small merchants are facing problems to conduct their business operations, the online payment terminals are playing a very important role. Yes, these are fruitful outcomes of technology. Digital payment equipment is not a new thing. The businessmen have been using these things for a long period of time. But, the pandemic situation has made social distancing compulsory. People will have to maintain a 6 ft. of social distancing. Amid this situation, that payment equipment that supports card-present-transaction becomes useless.

          There is no doubt that businessmen will have to come up with new techniques, approaches, and methods to run their business operations smoothly. Most businessmen have started an online business. But, when it comes to doing business online, you must pair your business with an advanced, reliable, and secure payment system. Well, this is where the online payment terminals come into play. We at International Payment Solutions believe that new merchants that are coming into the online ecosystem must know the important things about this. Therefore, we have explained how online payment terminals helping businessmen to grow their business. So, do not miss the following points:

          Understand The Ecosystem Of Online Payment Terminals

          Well, online payment terminals are helping the merchants in different ways. Therefore, it is very necessary to understand the ecosystem of these digital payment terminals. The best thing about digital payment equipment is that it supports card-not-present operations. Yes, the customers can make a payment from their home. Moreover, if you are running an online marketplace, you can integrate an online payment gateway. After that, you will experience hassle-free payment operations. On the other side, the customer can put their card details on the online marketplace and they can make payment online. This new, card less, cashless and advanced ecosystem will eliminate various problems.

          The pandemic situation has clearly highlighted the need as well as the significance of online or card less payment terminals. But, the good thing is that these terminals are the future. Yes, the merchants will need this even after the end of this deadly and crazy situation. The consumers have got the taste of this advanced ecosystem. They will never embrace that old-fashioned, complicated, and time-consuming payment system. If you do not know how these advanced terminals work, you will not have to worry. International Payment Solutions has explained this thing below. So, do not skip the following points:

          How Online Payment Terminals Work

          Well, when it comes to functionality, there is no difference between a normal payment machine and an online payment terminal. The only difference is that online payment terminals support card-not-present payment operations whereas that normal payment equipment only supports card-present-transaction. The customers their card details in the secure online payment gateway. After that, the payment processor does the rest of the job. This is a virtual platform and it deals with the top credit card companies and banks. The payment processor does the final settlement.

          There are different types of card processing fees inextricably connected with the operations of online payment terminals. If you are new to this environment, you must know those different types of card processing fees. Otherwise, you will have a problem understanding this new ecosystem. Those are nominal charges and they will not affect the growth of your business. The good thing is that online payment terminals can give you endless benefits. If you want to know what those benefits are, go through the below-mentioned points:

          Benefits Of Online Payment Terminals

          There is no denying the fact that online payment terminals are assisting the merchants in this pandemic situation very efficiently. Yes, it has endless benefits. We at International Payment Solutions have added them below:

          Growth In The Cash Flow      

          In the case of online payment terminals, the presence of customers holding credit cards is not required. Yes, the customers can pay sitting at home anytime. On the other side, the merchants will not have to keep the entrance of their marketplace open. It is completely online and it works 24×7. Eventually, the merchants will see a growth in the cash flow. Moreover, the customers will definitely share the link of your marketplace with their friends and families. Thus, you will see remarkable growth in the cash flow. Apart from this, it will make the customer base more stable.

          Not An IPS Merchant?

          International Payment Solutions or IPS is a secure and reliable online payment processor. From credit card machines to virtual terminals, you will get everything. So, if you want online payment terminals for your business, you can get in touch with International Payment Solutions.

          Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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            Is Online Payment Processing Service Really Assisting The Online Merchants Amid COVID-19 Situation?

            Online Payment Processing

            Online payment processing service is something that has gained huge popularity. Yes, over the course of time, the merchants have realized the importance of this service. As a result, businessmen all over the world have started using this service. Anyway, when it comes to using the online payment processing service, most people have a misconception. Yes, there are many people who think that online payment processing services cannot beneficial for small merchants.

            One question always titillates the mind of the small businessmen- is online payment service really assisting the online merchants amid this COVID-19 situation. We at the virtual house of International Payment Solutions have understood this. Therefore, here, we will cover the answer to this important question. International Payment Solutions has made a very deep breakdown of this virtual payment service. So, if you really want to know the important aspects of this service, you must run into the points mentioned below:

            Understand The Ecosystem Of The Online Payment Processing Service

            In order to get the answer, you must understand the ecosystem of the online payment processing service. This virtual payment processing service helps merchants in their online business operations. Yes, they can accept different types of digital payments through this service. Talking about the current situation, you must admit the truth that people all over the world are using cashless payment methods. So, in this situation, if you are still thinking that this service is not good for small merchants, you are completely wrong.

            It does not matter whether the merchant is operating a big business or a small business, this digital payment processing service is made for everyone. Yes, if you have a small business, you can still use these digital payment services. The small merchants are suffering a lot during this pandemic situation, and this is why they need an advanced tool that will help them to get rid of this difficult situation. In this regard, the online payment processing service can help them a lot.

            How It Works

            The online payment processing service basically helps the merchants in the process of receiving payments online. From the outside, it looks very simple, secure as well as reliable. But, there are many institutions constantly working behind the covering. We have explained the entire process below:

            • When consumers make payments online using their debit cards and credit cards, they actually put the card details in the payment gateway. After that, the gateway very securely sends the important information to the online merchant processor. After that, the merchant processor, card brands, and the banks come into play.
            • The card brands get information from the merchant processor and then, the banks get it from the brands. Well, the bank makes the ultimate decision. The transaction either gets approved or declined depending upon the amount left in the bank account of the customers’ account.
            • Then, the bank sends the same to the card brands, and then, the online merchant processor solutions receive this information. This financial institution makes the final settlement.

            So, you have understood how the online payment service works. Along with this, you must know that there are different types of credit card processing fees that merchants will have to pay. Yes, these fees have a very inextricable connection with online credit card transactions. Different merchant processors charge different types of credit card processing fees. The good thing is that we have already covered this and so, you can check them out. After understanding the ecosystem of this online payment service, you must understand the advantages.

            Advantages Of Online Payment Processing Service

            The advantages of the online payment processing service are as follows:

            Make The Customer Base Stronger

            The best part of using an online payment processing service is that it will make your customer base stronger. Yes, when you have such a service, you will have to option to extend the boundary of your business. Considering the present situation, the merchants want to increase their overall customer base. But, most of them are unable to do it. Anyway, after enabling the online payment processing service, the businessmen will not have any problem regarding this. There will not be any sort of problem regarding the payment. In the end, the customers will get satisfactory service from your business. They will promote your business verbally for free. As a result, the online payment processing service will make the customer base of your business stronger.

            Increase The Cash Flow

            Well, you will see a huge rise in the cash flow of your business. Yes, the merchants will have a good customer base and as a result, there will be more transactions in your business. So, the cash flow will be increased.

            Not A IPS Merchant?

            IPS that is also known as International Payment Solutions is a reliable and well-known online payment processor. If you want to start this online payment processing service, you can get in touch with this renowned virtual platform. It adds full value to each transaction.

            Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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              Can The Merchants Charge Customers Additional Fee To Offset Credit Card Processing Fee?

              Credit Card Processing Fee

              Credit card processing fee is something that every online merchant should understand. The ecosystem is quite dynamic and merchants operating online must embrace it to conduct their online business smoothly. There are different types of credit card processing fees and at International Payment Solutions, we have already covered those fees. Here, we will basically cover an important question that definitely titillates the mind of most businessmen and consumers.

              If you are operating an online business, you have probably know the different types of credit card processing fees. Well, these are something that merchants want to skip. They utilize various plans in order to offset the credit card processing fees. Well, merchants operating online businesses think that they can reduce the credit card processing fees by charging customers some additional credit card processing fees. But, is this possible?

              Well, there are different consumer guidelines, credit card brand agreements and different laws that merchants will have to follow. The entire scenario depends upon the type of business you do and the region where you are doing the business.

              Different Types Of Credit Card Processing Fees- Surcharge Fees And Convenience Fees

              In order to know the answer, you must know the difference between the surcharge fees and the convenience fees. Surcharge fee is something that is closely associated with the credit card processing fee. Well, merchants generally pay fees for accepting card payments from the customers. Now, the surcharge fees are designed in such a way so that they can mitigate or reduce the overall cost of these credit card processing fees that merchants pay. Surcharge fees basically indicate the passing of credit card processing fees onto the customers. The main objective of these types of processing fees is to mitigate or reduce the burden of overall credit card processing fees from the shoulder of the merchants.

              On the other side, the convenience fee is completely different from the surcharge fees. Merchants charge customers convenience fees when they offer any additional payment option that is not generally available at their business. If the merchants accept payments that are in-person in nature and offering any additional payment option to add convenience to the overall payment process, the merchants can charge convenience fees.

              Credit Card Processing Fees- MasterCard And Visa Issued Settlements

              MasterCard and Visa are the two top credit card brands. In Canada, these credit card brands issued lawsuit settlements regarding the credit card processing fees. It is something that merchants will have to pay when they receive card payments from the consumers. So, last year, these two credit card brands sketched guidelines. The guidelines were all about charging the surcharge by the merchants. However, there is no additional information on when the surcharge can be applied.

              If we talk about the United States, merchants can charge customers surcharge. Yes, the credit card brands allow the merchants to do it. However, the merchants will have to follow the guidelines set by the credit card brands. If the merchant is operating his or her business in an area where the credit card surcharge is banned, the merchants cannot impose the credit card processing fee on the consumers.

              States Where Credit Card Surcharge Is Not Allowed

              The credit card surcharge fee has a very inextricable connection with the credit card processing fee. Well, there are certain states where the merchants cannot charge the credit card surcharge. If you are into a digital business, it is very important to know about these states. We at International Payment Solutions have added the names of these states here. So, do not skip the following points:

              • Colorado: Under sections 29-11.5-103(3) and 24-19.5-103(3) of the Colorado state law, the merchants cannot impose any sort of credit card surcharge fee on the credit cardholders.
              • California: California does not allow the merchants to charge any extra fee or credit card surcharge fee whenever the customers make credit card transactions instead of cash transactions.
              • Connecticut: Connecticut does not have any sort of surcharge fee. Here, the merchants cannot impose any sort of surcharge fee on the buyers in any kind of credit card transactions or sales transactions.
              • Florida: According to the Consumer Protection Status in Florida, the merchants cannot charge a surcharge fee.
              • Kansas: Well, in Kansas, merchants are not allowed to take any credit card surcharge fee from the customers.
              • Massachusetts: Under section 28A, merchants cannot take any surcharge fee from the consumers.
              • Maine: There is a debit card and credit card surcharge prohibition in the credit card processing fees guidelines in Maine. Therefore, businessmen cannot impose credit card surcharge fees upon the consumers.
              • Puerto Rico: Puerto Rico is another state where merchants cannot charge credit card surcharge fees.
              • Texas: Texas consumer protection guidelines have surcharge fee prohibition and so, the merchants cannot take any sort of credit card surcharge fee.
              • Oklahoma: The Consumer Credit Code in Oklahoma has a prohibition in credit card surcharge fees. No seller can impose a surcharge fee on the consumers.
              • New York: The general business law in New York prohibits the merchants from taking any sort of extra fee or surcharge fee.
              Opinions Of Credit Card Brands On Credit Card Surcharge

              It is very essential to know what the top credit card brands such as Visa, MasterCard, and American Express are saying about the credit card surcharge.

              Visa

              Under the Visa Service Fee Program in Canada, the merchants can take service charge. Well, the business category codes include tax payments, fines, childcare, post-secondary institutions, real estate agents and utilities. Well, the businessmen can take up to 1.5% on the eligible debit card transactions and in the case of eligible credit card transactions, they can take up to 2.5% charge. As per section 5.6.1.3, merchants can assess variable or fixed credit card surcharge fees on the eligible Visa credit card transactions. Well, the surcharge can be applied either on the product or on the credit card brand.

              MasterCard

              Under section 5.11.2, you will get to know about the credit card processing fees details of MasterCard. Well, in Canada, MasterCard clearly indicates that a merchant can provide a discount to the customers in various forms of online payment. However, the merchants must mention it at the point of interaction with customers.

              If we talk about the MasterCard credit card surcharge rules in the United States, it consists of the following aspects:

              • Registration of the acquirer
              • At the point of interaction, the merchants must disclose the surcharge fee
              • Transaction requirements
              American Express

              Well, the Canadian Merchant Policy of the American Express has the following terms and conditions:

              • The merchants cannot persuade the cardholders to use different payment methods such as paycheques.
              • The businessmen cannot impose any sort of conditions, and restrictions upon the cardholders except for cash transactions or electronic fund transfer.
              • Merchants cannot make any sort of implication directly or indirectly that they prefer other payment modes.

              A surcharge fee is a kind of credit card processing fee. Talking about the policy of surcharge fee, the US Merchant Policy is almost similar to that of the Canadian Merchant policy.

              Not An IPS Merchant?

              As of now, you have understood why merchants cannot charge any additional fee to offset the credit card processing fee. Now, if you want to accept online credit card payments, you must need an online payment processor. International Payment Solutions offers an affordable, transparent and honest credit card processing fee structure. So, what are you waiting for? Visit International Payment Solutions today and become a merchant.

              Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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                How Credit Card Payment Services Elevating The Online Business In The Pandemic Situation

                Credit Card Payment Services

                Credit card payment services are actually elevating the online business in this pandemic situation. Talking about the present situation, the consumers are actually giving more preference to the digital transaction modes. They have actually understood the positive aspects of using these technologically advanced payment modes. Standing in this era, we cannot deny the fact that credit card companies are experiencing remarkable growth in their business. Well, there is a reason behind this. If you see the current situation, you will understand that credit cards have become one of the leading payment modes. This is not the scenario of the United States. People across the globe have started using this advanced payment mode.

                According to research, almost 41 percent of consumers or shoppers have already made a remarkable cut down on the use of the cash transaction. On the other side, almost 97 percent of shoppers have turned to debit cards and credit card payments. So, you can realize the importance of having credit card payment terminals in your business. So, amid this situation, if your business does not accept online payment, you are actually going backward. As a merchant, you should start accepting the credit card payment and for this, you must have credit card payment services in your business.

                Understand The Ecosystem Of Credit Card Payment Services

                Well, if you want to start an online business, you should know about credit card payment services. This is something that will assist the merchants in the process of receiving online credit card payments. Anyway, in this process, the online payment gateway, online credit card processors, credit card brands and the financial institution that issued the card play a very important role. They basically complete this process that is completely real-time.

                First of all, the merchants should start an online marketplace in order to expand their business. In this pandemic situation, online merchants have not yet faced many problems. Customers are buying from online platforms and therefore, they are successfully maintaining the overall cash flow in the business. Now, if you are an online merchant and have already opened an online marketplace, you will have to integrate the online payment gateway.

                Otherwise, the customers cannot make online payments using their debit cards and credit cards in your online marketplace. You need to open a merchant account under any secure, reliable and well-known online credit card processor. After that, your online marketplace will be able to accept online payment. The payment gateway actually forwards the card information securely to the online credit card processor. After that, the online payment processors deal with the financial institution that issued the credit cards and the credit card brands. This is completely a real-time process and therefore, the customers make the payment instantly. Talking about the settlement of the payment, the merchants get the payment in 1 or 2 business days.

                Benefits Of Having Credit Card Payment Services

                Credit card payment services are the future of online business. You cannot run your business in the ecosystem online efficiently without taking help from credit card payment services. It can give your business endless benefits. Some of them are highlighted below:

                Helps You To Make Your Business Legitimize

                Well, if you want to increase the brand value or if you want to legitimize your business, you must need credit card payment services on your side. If you want to establish your business as a legitimate one in this competitive business world, you need this payment service. Well, if your business has this service, the customers can make payments through their cards. Moreover, the logo of the top credit card brands will display on the checkout page. It will definitely grab the attention of the cardholders. In the end, it will develop a sense of strong trust in the minds of the customers. The number of repeat customers will automatically be increased.

                Remarkable Rise In The Sales

                If your business only accepts cash, there are many customers who will not visit your marketplace. As a merchant, you must admit the fact that customers are embracing online payment modes instead of offline cash transactions. Therefore, if your business has credit card payment services, the merchants will see the logos of the top credit card issuing brands. The customers can pay using their preferred payment mode. The entire payment process will be less time-consuming. As a result, your consumers will be impressed and they will share the link of your online marketplace with their families and friends. In the end, you will see a huge rise in sales.

                Not An IPS Merchant?

                As of now, you have understood how credit card payment services are uplifting businesses in this COVID era. Now, if you want a merchant processor for your online business, you should go with International Payment Solutions. It is a virtual platform that will provide your business the credit card payment services. IPS adds full value to each transaction. So, become a merchant without any hesitation.

                Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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                  How Digital Payment Terminals Improving The Cashless Transactions

                  Digital Payment Terminals

                  Digital payment terminals are something that is opening up new ways for merchants. We cannot deny the fact that the online transaction modes are less complicated and more secure than offline payment modes. We all have stepped into the cashless society and there are so many things that are improving the ecosystem of cashless transactions. Well, digital payment terminals are one of them. Standing in this modern time, many businessmen have already installed digital payment terminals and they are experiencing the endless benefits of these terminals. But, on the other side, many merchants are still under the captivity of a complicated ecosystem of offline payments.

                  Merchants across the globe should understand the convenience of digital payment terminals. Otherwise, it will be a pure form of injustice to cashless transactions. There are many merchant processor solutions that are coming up with various digital payment terminals. Different payment equipment has different functions. As a merchant, you will have to understand this before stepping into this dynamic ecosystem.

                  Understanding The Ecosystem Of Digital Payment Terminals

                  People have been doing cash transactions and then, technology comes into play. After that, people have experienced massive changes in the ecosystem of payments. Nowadays, people do not like to carry cash. Instead of this, they generally keep credit cards. Apart from this, we have another option through which we can make digital payments. Well, we are actually talking about digital payment terminals. Anyway, it does not matter what mode you are using to make the online payment, the digital payment terminals have the potentiality to accept all forms of payments.

                  The pandemic situation has shown us why we should embrace digital payment terminals. Yes, we are living in a pandemic era and people cannot make offline transactions due to the restrictions. Amid this situation, the digital payment terminals will help the merchants to continue the cash flow. Such payment equipment also supports card-not-present payments. Therefore, the merchants will not have to keep the physical store open to accept cashless payments. The customers can easily make payments sitting at their homes. If your business offers such a convenience, it will definitely attract more customers. Anyway, we have specifically made points where we have explained the benefits of the digital payment terminals. So, don’t miss to look at the points mentioned below:

                  Advantages Of Having Digital Payment Terminals

                  Merchants are embracing the digital payment terminals and there are reasons behind it. Here, we have added the advantages of digital payment terminals.

                  Take The Cash Flow To A Different Level

                  It becomes very easy to take the cash flow to a different level with the help of the digital payment terminals. When you have such an advanced payment machine, you will not miss a single transaction done by the consumers. Apart from this, you will be able to process the transaction faster. In the end, customers will get satisfactory experience from your business and they will become your repeat customers. Moreover, payments made through payment terminals are instant and so, you will get the payment in the merchant account instantly. It will help you to take the overall cash flow of your business operations to a different level.

                  Receive Payments From International Customers

                  Well, if you want to grow your business, you will have to take it to the international level. With the help of the online market place, you can easily do business with international customers. But, when it comes to accepting payments from those international customers, you will have to go with the payment terminals. Yes, these payment equipment do not have any sort of geographical restrictions. Therefore, you will not have any problem while accepting payments online from international consumers. Thus, you can elevate the entire business operation to a different level.

                  Achieve Strong Customer Base

                  If you have digital payment terminals, you can do business with international and domestic consumers. Moreover, merchants can accept card-not-present payment from the customers. So, it will be easier to achieve a strong customer base.

                  Not An IPS Merchant?

                  IPS is one of the reliable payment processors. Another name of IPS is International Payment Solutions. This is a virtual platform that offers digital payment terminals such as a virtual terminal. If we specifically talk about the objective of this online payment processor, they always give the ultimate preference to customer satisfaction. Apart from this, they add more value to each online payment made by the customers. If the merchants of the International payment Solutions face any problem, they will not have to worry. This virtual platform provides 24×7 support to the merchants. Talking about security, IPS uses the latest security technologies that will fulfill the needs of the merchants. So, what are you waiting for? If you want payment terminals in your business, you can become a merchant of this wonderful online platform that is called International Payment Solutions.

                  Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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                    Online Payment Gateway- Assisting The Merchants In The COVID Era

                    Online Payment Gateway

                    Online payment gateway is actually helping the merchants in this COVID era. Even in this cashless period, most merchants are using old payment methods. But, after the emergence of this crazy, complicated and pandemic situation, those merchants had seen a huge loss in their business. On the other side, merchants who had enabled digital payment systems in their business had seen remarkable growth. It is the technology that made the difference. Over the course of time, we have experienced advancement in the sphere of technology.

                    In this 21st century, if you ask for cash payment, the customers will not visit your business again. As a merchant, you will have to provide the ultimate and satisfactory convenience to your customers. You cannot deny the fact that offline transactions are complicated as well as time-consuming. The customers do not have time to wait and therefore, they always prefer fast and reliable modes of payment. The online payment modes are simple, secure and reliable and therefore, those merchants who are still relying on the offline modes should bring changes in their business strategies.

                    Understand Online Payment Gateway

                    Well, it does not take much time to process an online transaction. It is a real-time process but, there are certain things that are working behind the curtain. The online payment gateway is one of them. Standing in this technologically advanced cashless era, we can easily say that the e-commerce business is rapidly growing. The main reason behind this is the reliability and simplicity of the ecosystem of online payment. If you are a merchant and want to embrace the dynamic and large ecosystem of digital payment, you should understand how it works. Therefore, we have explained this thing here. So, go through the points mentioned below:

                    • Customers tap on the ‘buy now’ button and this is how they initiate the online transactions.
                    • After that, the online payment gateway comes to the action. Basically, the e-commerce or online marketplace takes the online consumers to the secure online payment gateway. They put the important card details and after that, the online payment gateway authorizes it. After authorizing the details, the bank or financial institution receives the card details and transaction details of the customers. The bank of those customers will check the funds available in the bank account of the cardholder.
                    • After checking this, the bank sends approval or declination notification to the online payment gateway. The entire thing depends upon the funds available in the account of the customers.
                    • After that, the online payment gateway sends the payment status to the customers. Then, payment settlement has been done with the merchants.
                    Some Reasons That Make Payment Gateway More Approachable

                    Well, there are various reasons that make the online payment gateway more approachable. We have highlighted these reasons below:

                    • Setting up the online payment gateway is not complicated. You can easily integrate it with your existing system.
                    • Well, everything requires maintenance and the online payment gateway is not an exception. It does require slight technical maintenance. You can easily do this on your own. Moreover, if you have become a merchant of any well-known online payment processor, you will not have to worry. The payment processor will provide 24×7 support.
                    • The popularity of payment gateway has been increased. Most of the merchants are familiar with the ecosystem of digital payments. Therefore, it will not be difficult to understand the functions of a payment gateway. Even, if you are new to the online business, you can easily accept online payments from customers.
                    Advantage Of Using Online Payment Gateway

                    Most merchants are nowadays are enabling digital payment gateway. Well, if your mind wants to do the same, you are moving in the right direction. The online payment gateway can give your business endless benefits and convenience. We have explained some of them below:

                    Faster And Easy Checkout

                    Earlier, we have mentioned that a payment gateway can give your business a lot of conveniences and advantages. One of them is the faster and easy checkout. Customers nowadays are looking for an easy and reliable checkout process. Moreover, the pandemic situation does not allow them to come to your offline marketplace and make a payment. In this situation, the online payment gateway can give your business the ultimate solution. It is a real-time process and the entire transaction will be completed within a few seconds. So, when customers get such a satisfactory outcome, they will definitely purchase from your business again and again. So, the online payment gateway will increase the customer base.

                    Enhance The Overall Brand Value Of Your Business

                    Well, as a businessman, you will always want to increase the brand value of your business. When you enable an online payment gateway, your business will be able to accept all forms of credit card payment. Customers will see the names of the popular credit card brands on your online marketplace. It will definitely increase brand value.

                    Not An IPS Merchant?

                    So, if you want to enable the online payment gateway, you can visit International Payment Solutions. It is a virtual platform that provides such a service. Apart from this, you will get 24×7 support from the IPS support team. So, don’t wait; become a merchant of this renowned platform today.

                    Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:

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