bestbuymerchantaccount.com

                When one sets up a store online, one must ask themselves the age-old question: Which is better, PayPal or a merchant account with First Data.  I get asked this question a lot in my profession and I am here today to explain to all of you which is the better payment solution.  Everyone with an online store must determine at one point or another which payment gateway to use.  Whether that decision is quick, going with whatever he or she is familiar and comfortable with, or the decision is harder, weighing options of all payment processors- everyone must decide.  There are many pros and cons of each; today we will discuss the most important of those so that you, as a merchant, has a better grasp on which option is right for you.

                PayPal is a quick solution to payment processing.  Virtually anyone can sign up to accept credit cards over the internet.  There is no credit check so any John Doe can set up an account with no problem.  Although this is may be a good thing for those just starting their business, or those with small stores & boutiques online, that may be the thing that will deter you from using PayPal.  When I say anyone can set up a PayPal account… I mean it.  More often than not, a lack of trust comes out of this because you never know who is on the other end of that transaction.  Unfortunately, many people that I’ve spoken to have lost business because some customers do not have full confidence in a PayPal account.  Furthermore, for those merchants using PayPal for a smaller business, the fees are higher.  Your transaction rate is based solely on how much you process per month.   The more transactions you process, the lower your rate.  Unfortunately, most merchants with PayPal accounts cannot reach the limit for qualifying for a lower transaction rate.

                A merchant account with First Data is a lot different than PayPal.  Customers feel more secure with their purchases because they know that the merchant has gone through a verification of not only the services or products that they sell, but a verification of themselves.  Stores with a bona fide merchant account carry more weight than those just using PayPal.  And while setting up a merchant account may be more expensive with the monthly fees, it is a necessary evil.  With a merchant account, you will have access to a knowledgeable customer service department 24/7/365.  We speak over 150 languages and can help with any issue that may arise no matter what.  You have access to our chargeback department where we will work with you to resolve any chargebacks.  Also, at FDIS Chicago Metro, we strive to keep your fees low by cutting costs where necessary.  For example, there is a statement fee.  But as our last post mentioned, there is a way to bypass that fee.  This type of information is given to our merchants because in our eyes, we are all on the same team… Your team.

                I cannot tell you how many horror stories I have heard of customers getting duped by a false PayPal account, or a merchant whose identity was stolen and set up with a PayPal account.  Please do your homework before choosing either option.  It is always best to speak with someone knowledgeable regarding questions on setting up a merchant account.  Please give me a call or send an e-mail for advice.  Knowledge is power!

lisa@fdis-chicagometro.com

847-348-8648 x-103

The demand for gift cards has exploded and First Data is working to keep up with the demand.  What is a gift card?  A gift card is an electronic version of the traditional paper gift certificate programs in which the card balance is stored on a database and decreased as the card is used.  We all know that; and we have all been given a gift card for a birthday or Christmas.  The question is… why use gift cards as a merchant?

Well first and foremost, it builds brand awareness.  Everyone knows that the best customer is a loyal customer.  If someone feels comfortable enough to come back five to seven times, chances are that they will tell their friends and family about that place.  And this is great for business.  Secondly, it increases cash flow and average ticket size.  Studies have shown that 55% of gift card recipients spent more than the initial value of their card.  Nationally, gift cards were preferred over money by a margin of 2-to1 and the average dollar value entered onto gift cards has risen from $44 to $59.  And finally, the gift card program minimizes losses due to fraud and theft, usually associated with a paper certificates program.  The amount entered onto the card cannot be changed by the wave of an eraser anymore.

For information on pricing, or to place an order for personalized gift cards, please visit our website and give us a call.