1/9/10

Credit Card Merchant Knowledge Base


Here's your chance to learn details about different terms and phases used in the merchant account industry. If there is a payment processing phase that is commonly used that you would like to recommend here please contact us.



Credit card (visa, MasterCard)- operates like an on demand loan. The traditional credit card has the option to pay in full or defer payments. The consumer has the option of paying back the loan money in full or paying back a portion of the money with incurring interest charge on the unpaid portion.

Charge Card (American Express, American Eagle)- Provides short-term credit. The consumer must pay the entire debt of a charge each month. There are no interest rates but late fees are usually present if the payment is delayed.

Debit Card- Issued jointly by banks and credit providers. Instead of accessing a line of credit debit cards access a bank account directly.

Prime Rate- this is the rate at which banks will lend money to their most favored customers. The rate will move up or down with changes by the Federal Reserve.

Savings Bond- A bond issued by the United States government in denominations of 50 to 10 thousand dollars. A bond can not be bought or sold.

Fixed Mortgage rate- the interest rate on the amount of money borrowed when buying a house. The fixed interest rate is a constant percentage.

Adjustable Rates- the interest rate on the amount of money borrowed when buying a house. An adjustable rate is never constant. If it goes up the customer pays more but if the rate declines the customer pays less.

Treasury Securities

Bills- Treasury bills are short-term securities that mature in one year or less from their issue date. The interest rate is the difference between the purchase price of the security and what is paid to you when it matures.

Bonds- Treasury notes are securities that pay a fixed rate of interest every six months until they mature. Bonds mature in more than ten years from their issue date.

Notes- securities that pay a fixed rate of interest every six months until they mature. Notes mature in more than one year, but not more than ten years from their issue date.

New car loan- the interest rate on the amount of money borrowed to buy a new car.

Used car loan- the interest rate on the amount of money to buy a used car.

Bank Accounts- a fund that customer has entrusted to a bank and form which they can make withdrawals.

Federal Funds Rate- The interest rates at which banks and other depository institutions lend money to each other.

Discount Rate- The interest rate at which an eligible financial institution may borrow funds directly form a Federal Reserve Bank.

Capitalism- aka- “the free enterprise system” which was created is the economic system where individuals own the factors of production, and the private sector (consumers and business firms) make most of the decisions. Capitalism is a recent historical development and represented a dramatic change in the way people have handled social economic problems.



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Avoid these mistakes when choosing a merchant account provider

Choosing a merchant account provider is an important decision for a business - good partnerships can help contribute to a company's cash flow and reputation, while partnerships that are less than ideal can hit merchants with hidden fees and limiting contracts.

To help them make the best decision in their choice of merchant account provider, Merchant Account Guide recently published a list of common mistakes that businesses make when choosing a provider.

Topping the list was misunderstanding the fee structure. Many merchant account providers do not charge a monthly or annual fee, but instead charge higher or additional transaction fees. Companies should fully understand how they will be charged, and for what.

The second most common mistake was along the same lines - failing to read the contract thoroughly. The article advised businesses to ask for the contract, terms and conditions, and service agreement before making a decision.

Businesses should also consider the security offerings of the merchant account provider in question. Are the POS terminals up-to-date and PCI compliant? Is there fraud protection included in the merchant services? These are important questions to ask.

Another recent article from Merchant Account Guide advised businesses to assess their needs and goals for payment processing before choosing a provider, to ensure that their needs are met. ADNFCR-2514-ID-19543843-ADNFCR

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12/15/09

BankCard USA Launches 5 Point Service Guarantee Program


Company Continues to Lead Industry in Merchant Services Best Practices

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--‘Keeping it all under one roof’ is the mantra of BankCard USA, a merchant services company, servicing merchant needs from start up to expansion. In an era where passing the buck and outsourcing business is all too common, BankCard USA does business differently. Operating in an industry that has become predatory and has left a bad taste in more than one business owner’s mouth, BankCard USA is pushing back to lead the way in best practices.

Most recently, the company announced its newly operational merchant account review hotline where companies can call and have their existing merchant services contract evaluated and receive advice on how to get out of unfair contracts. BankCard USA has now launched another step in restoring VIP customer service to the merchant services industry with their 5 Point Service Guarantee Program.

Currently, most merchant service providers are resellers that make a sale and then pass the customer to a processor. These resellers do not have the ability to handle customer account information and directly service them. BankCard USA is different. By managing the account, all under one roof, the merchant receives the benefit. The newly launched 5 Point Service Guarantee Program states:

  1. New customers are never sent refurbished equipment or outdated POS software—BankCard USA ensures that all hardware and software is the newest and most updated available, reducing potential malfunctions and resulting in faster transactions for the merchant.
  2. Your Business Deadline comes first - Whether merchants need new POS equipment for a grand opening, convention, or a merchant needs to make a quick switchover, BankCard USA will take care of you. Equipment can be delivered within 24-hrs.
  3. No Contracts! BankCard USA doesn’t lock customers into contracts. They take a different approach, relying on good service to maintain customer loyalty.
  4. Customer requests must and will be handled on the first call. BankCard USA knows that merchants are far too busy to worry about following up with their merchant servicer. Time is valuable and we don’t waste it.
  5. Same-Day Problem Resolution- BankCard USA’s goal is to make sure all problems no matter how big are solved within 24 hours.

BankCard USA founder Shawn Skelton comments, “Customer service is so important to us because by definition we are a service business. Part of what a customer pays for is the value of being serviced professionally and timely. We treat every merchant like a VIP and we take pride in the fact that from A to Z we can handle everything that a merchant will need in house and within 24 hours.”

In response to the 5 Point Service Guarantee, customers are already raving about the service they are receiving from BankCard USA including:

“I just wanted to thank you for going the extra mile to get our account set up and approved. From start to finish, you had us approved in less than 24 hours. Other companies I have dealt with have taken much longer. Being a business owner, I can also appreciate the fact that you were easy to get in touch with and responded to emails very quickly. Once again, thank you for your great service.” Scott Brown, Quality Floors Direct.

“I would like to inform you of my satisfaction with the company’s customer service. The quality of service was to meet my needs and this put you, BankCard USA, above your competitors. ..Great customer service will always make the customer come back time and time again.” Bonnie Martin, Bon Mar Productions.

“Just a note to thank you and the extremely helpful staff at BankCard USA. The entire transaction went seamlessly, and now we are up and running and ready to accept payments of all types. I will definitely be recommending your service to all my business associates.” Cosmo Miller, Cold Fresh Inc.

Find out more about the 5 Point Service Guarantee at www.bankcardusa.com/serviceguarantee. Additionally, merchants can contact the merchant account review hotline by calling 866-259-9777 or visiting the BankCard USA’s web site at www.bankcardusa.com.

About BankCard USA:

Founded in 1993 by Shawn Skelton and Alan Griefer, BankCard USA is a registered merchant service provider. BankCard USA specializes in credit card processing for new or existing businesses. They offer payment solutions for all types of businesses, including internet, retail store-front, mail-order, phone-order, trade shows, professionals, service industry and home-based businesses. For more information visit us at http://www.BankCardUSA.com.


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10/10/09

100 Best Names Merchant Warehouse the Best Merchant Account Provider


ST. GEORGE, Utah, Oct. 2 /PRNewswire/ -- 100 Best, Inc., a leader in providing
information on ecommerce services, recently recognized Merchant Warehouse as
the best merchant account provider for businesses that accept credit cards.
This recognition is given to the merchant account provider that has
demonstrated its commitment to providing the best merchant accounts and
merchant services possible. The evaluation is based on a number of factors,
including pricing, merchant support, equipment options, technology, ethical
business practices, and customer satisfaction.


Merchant Warehouse is a premier merchant account provider and offers
unsurpassed, in-house merchant support to its customers. With no contracts and
no cancellation fees, they have no choice but to keep their customers happy.
Additionally, they have distinguished themselves as a low cost leader in
providing merchant accounts and credit card processing services, guaranteeing
the lowest cost on credit card processing and credit card machines. Merchant
Warehouse also utilizes the latest technologies in its advanced credit card
processing solutions.


Earlier this year, Merchant Warehouse was the recipient of the first annual
ISO of the Year award, awarded this year by the Electronic Transactions
Association. Merchant Warehouse received this award because of their
commitment to their customers and to their own people. They have excelled in
making the merchant account setup process extremely easy. Additionally, they
have received tremendous feedback and rave reviews from their customers. Visit
Merchant Warehouse at www.merchantwarehouse.com or call 1-866-396-4142.


About 100 Best, Inc.
100 Best, Inc. was started by a diverse group of ecommerce and financial
experts to find a better way of delivering information to consumers about
ecommerce solutions and services. Through its merchant account information
portal http://www.100Best-Merchant-Accounts.com, 100 Best, Inc. is striving to
provide business owners with the information they need about merchant accounts
and how to accept credit cards. This is accomplished through its articles,
tutorials and glossary about merchant accounts and merchant services.


Media Contact:
M. Alan Kay
mk100best@gmail.com
435-705-5211






SOURCE 100 Best, Inc.

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Commerce Online Announces $500,000 In New Merchant Services Accounts Through Alliance Network For Operating Quarter




-Company exceeds expectations for new accounts in merchant services and
moves forward with independent ISO roll up strategy

PALM BEACH, FL, Oct. 9 /PRNewswire-FirstCall/ - Commerce Online Inc. (Pinksheets:CMIB - News) (www.800commerce.com), a leading company specializing in both bricks and mortar and online merchant payment solutions, today announced that the Company has exceeded expectations by signing approximately $500,000 in new merchant services business.

"As a new player within the sector, we have strategically aligned our Company with some of the most respected merchant solutions partners and banks in the country. This has allowed us to move our business forward aggressively to grow our client list through superior service and support, competitive pricing, new product offerings and veteran management. We have taken a different approach at Commerce Online, seeking out niches within the processing industry other than the standard model of mom and pop shops and volume business. Although we are more than willing to handle those accounts, are goal is to sign merchant services agreements with national brands, high volume online businesses, government municipalities and mobile entertainment which we believe to be high volume and low maintenance accounts, while also pursuing an aggressive independent ISO roll up strategy through our banking partners," stated Michael Friedman, founder of Commerce Online Inc.

About Commerce Online Inc.

Commerce Online Inc. (www.800commerce.com) is positioned to become a market leader in both online and wireless merchant payment solutions. The Company offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company's Alliances provide electronic payment processing suite of services enabling merchants to accept all major credit and debit cards, as well as ATM cards and ACH check drafts for payment whether a retail, service, mail-order or Internet merchant. As an industry leader, Commerce Online is dedicated to delivering comprehensive services, such as merchant account activation, gateway connections, Web development and social network engines to a worldwide client base. Commerce Online is a registered ISO with Direct Technologies Inc., a registered ISO of First National Bank of Omaha, Omaha, NE and Wells Fargo Bank, NA., Walnut Creek, Ca.

Disclaimer:

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the closing of the Letter of Intent. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (i) the numerous inherent uncertainties associated with completing a reverse merger transaction; (ii) obtaining regulatory approval in a timely manner; and (iii) changes in general economic and business conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our future financial reports other periodic reports filed from time-to-time with the Securities and Exchange Commission.

CONTACT: Commerce Online Inc., (561) 868-6880, 800-Commerce, Investor Relations, info@commerceonlinemedia.com

SOURCE Commerce Online Inc.
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8/18/09

VerifySmart(TM) Corp. solves the consumer and merchant credit/debit card fraud that has reached world wide epic proportions

TAGUIG, METRO MANILA, Philippines, Aug. 18 /PRNewswire-FirstCall/ - VerifySmart(TM) Corp. (VSMR: OTCBB): VerifySmart(TM) (VSC), a global leader in secure and fraud free payment processing services, is pleased to announce the launch of its integrated and highly scalable e-commerce system along with its enhanced website.

AN EPIC PROBLEM

Globally, the number of payment transactions and money transfers conducted online, electronically, or through Credit/Debit cards has increased dramatically in a very few short years. In 2008, in excess of $10 Trillion was exchanged in various electronic forms across the world.

The credit/debit card technology that has been introduced in the last decade was developed to allow consumers the ease of purchases and transfers online. With the increase of electronic transactions, the instances of fraud have increased exponentially. Until now, there has been little effort made towards security, resulting in an ever increasing problem of ID theft and Credit/Debit card fraud that has reached in excess of $56 Billion annually.

THE SOLUTION

As an industry leader, VerifySmart(TM) Corp. has spent four years and millions of dollars to develop and is now marketing a solution to combat the problem that technology created. Our patent pending (PCT Approved) technology has been filed in 29 Countries based on strategic importance and wireless penetration rate.

The software operates through the use of a cellular phone for secured verification of monetary transactions. VerifySmart(TM) Corp. technology notifies the cardholder of the purchase through the cellular phone and empowers the cardholder to approve or decline his/her purchase. The result is a guaranteed transaction and acceptance providing safety and security for the cardholder and merchant, a first in the industry and providing a level of security unprecedented in other Credit/Debit cards.

Our industry changing transaction services model is non-invasive (requires no system changes) with instant identity verification that is inexpensive to implement and simple to use. The software has been developed to include debit card purchases, internet purchases, ATMs, passport, money transfers, remittances and mortgage verification.

An industry and global first, Verify Transfer is a suite of services that offers the following Transaction and Authentication based features:

     -  Seamlessly integrated with VSC's VeriSmart Card and VerifyNGo two
factor authentication
- Provides virtual bank functionality and allows merchants full fund
management control
- Merchants can issue and assign VeriSmart Cards to end users and load
cards anytime, anywhere electronically (completely secured). Typical
use includes payroll services and transactional fund disbursement in
real time.
- Ability to garner interest in new markets via the foreign exchange
module which enables merchants and end users a full view of their
account balance and transaction history in two currencies
- Access to a full reporting and record management system allowing
complete visibility of individual customer transaction history and
macro roll up reports
- Unrivalled merchant and end user peace of mind enabled by utilizing
the patent-pending VerifyNGo two factor authentication to complete
funds transferred

ABOUT VERIFYSMART(TM) CORP.

VerifySmart Corp. has designed and developed a Proprietary Hardware/Software Solution that solves Credit/Debit Card fraud by using a proprietary two Factor Authentication.

The Company's Core Technology is designed to meet the needs of the Security challenged Transaction Processing Industry. Present day solutions, such as Verified by Visa, Chip and Pin and CVV Code (all of which can be compromised) have not reduced payment card fraud by any significant factor.

The VerifySmart solution has reduced fraud to zero in earlier production pilots. The Company's proven and highly scalable solution is gaining worldwide attention and placing VerifySmart at the forefront of the fraud prevention revolution.

Forward Looking Statements

This current report contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment for start up software companies, stock market conditions, unforeseen technical difficulties and our ongoing ability to operate a business and obtain financing. These forward-looking statements are made as of the date of this current report, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Although we believe that our beliefs, plans, expectations and intentions contained in this current report are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the 2008 fiscal year, our quarterly reports on Form 10-Q and our other periodic reports filed from time-to-time with the Securities and Exchange Commission pursuant to the Securities Exchange Act.

    Corporate Headquarters
Fort Legend Towers, Suite 2002 - 3rd Avenue corner 31st Street
E-Square, Fort Bonifacio Global City, Taguig
Metro Manila, Philippines

Investor Relations
1-800-685-1584

Questions or Feedback
inquiry@verifysmart.com
www.verifysmart.com

SOURCE VerifySmart Corp.


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