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Casual Articles - A Quick Guide in Payment Processing Services and Terms
Starting a new business can be a daunting task. There are hundreds of decisions to be made. Who, what, where, and when are not just for English class anymore. Another question that must be answered is “What form will my business be?” There are several factors to be considered and there are pros and cons for each type. In this article, I will try to briefly explain the differences between the business forms.Sole Proprietorship: Most people are
If you are looking for a flexible office space plan that won’t keep you locked into a contract for a year or more, the first thing to forget is conventional lease space.You want to focus your search on ‘rental’ office space. Why rental? Because rentals generally offer the most flexible arrangements without requiring a long-term lease.One of the most convenient and wide-spread types of rental offices are called executive suites or executive office space. These can b
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
Here is a quick tip for securing temporary office space without spending a bundle of money or getting involved in a lot of hassles. Just remember these three words: 'shared office space'. Savvy business people recognize that the words 'shared office space' does not mean actually sharing space with another company. They refer to a type of permanent or temporary office space that can be quickly and easily obtained for any length of time. For example, let us say you
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 fro
It is highly probable that every person would suffer some form of critical illness at one point or other. Would you have enough money to cover lost income and pay for medical billing and other related rehabilitation costs? The general high cost of healthcare is another important factor.It has often been said that with current advanced medical technology, people are expected to live longer. So, to sustain oneself and pay for medical billing, critical illness insurance is
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 fro
Congratulations doctors, nurses, therapists, and pharmacists! You have studied hard, spent thousands upon thousands of dollars to attend school for what probably felt like thousands upon thousands of years, and now you are ready to enter the medical workforce. You are ready to start working for a medical business, or to open your own medical business. With a scalpel in one hand, a prescription pad in the other, and a stethoscope swinging around your neck, you are ready to cure
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 fro
IN PART 1 of this two part article, we looked at Quality of the Product and Friendliness of the Service. In Part 2 we will consider alignment to particular requirements, responsiveness to needs, ability to deliver to schedule, and cost to the purchaser. Let’s get started.ALIGNMENT TO REQUIREMENTSA big part of competitiveness is found in the alignment of the product to the customer’s requirements -- if it does what it’s supposed to do, they’re gonna consider buying
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
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