Do you use older analog phone lines or high speed digital? The reason this is so important to find out is that most older dial-up terminals have internal modems that were designed for slower speeds, so they can’t handle the higher speeds digital phone lines offer. Some technical support departments for processors have even gone so far as to say they no longer support dial up terminals using digital phone lines due to the consistent performance issues.

So if you’re setting up a merchant account and plan on using a terminal to accept cards, find out if your location has analog or high speed digital phone lines. If you don’t know, ask the building supervisor, or you can call the phone company that provides the service at your location.

Analog phone lines – you can use almost any terminal on the market as long as it is PCI compliant.

High speed digital phone lines OR no phone lines – your best bet is an IP based terminal. An IP based terminal will use an Ethernet line to connect, so you can plug it directly into your computer if your location has no extra Ethernet jacks. Most IP based terminals support dual connectivity which means they support both analog & digital lines.

Locating dependable and affordable credit card processing for online poker and gambling websites has always been a challenge for new and existing businesses (U.S. or International).

A new interpretation of the Wire Act of 1961 has made wagering across state lines and across international borders legal. This deregulation will be a huge boost for the online gambling and poker industry.

At The Transaction Group (TTG), we regularly work with online gambling merchants, providing each with the best merchant account solution for their needs. We have strong banking partnerships both domestically and internationally and are able to secure competitive rates for all our high risk merchants.

If you are have a gaming site (U.S. or International), and need credit card processing for online poker and gambling transactions, TTG can help.

U.S. & International Gambling Operators APPLY HERE.

Need more information? Fill out our ONLINE FORM.

Risk and the Online Gaming/Gambling Industry:

There are numerous variables that can define the level of risk relating to online gambling and gaming businesses. Processing service providers evaluate this type of business as high risk and charge higher rates and fees.

The greatest risk typically associated with high risk businesses is the ratio of charge backs by customers. If this amount exceeds the amount allowed by Visa and MasterCard, the processors will be hit with penalties. Processors therefore spread this risk to all merchants by requiring higher rates.

Other variables that have an effect on the determination of whether a particular business is high risk:

•    owner’s credit scoring
•    product or service offering
•    selling procedures
•    high ticket transactions

A solid processing track record will give you more leverage in negotiating rates with your merchant account provider. Even if your business is seen as risky, you can still secure excellent rates with a reasonable and untarnished history.

If your online gambling venture has a below average card processing history, you can still be approved, but  expect to pay a higher rate. For verification of processing history, the majority of processors usually require at least three months of bank processing statements before they will offer a rate.

On account of the more significant opportunity for fraudulent activity, the majority of high risk merchant accounts include supplementary provisions:

•    increased funding waiting times
•    security reserves
•    limits on volume as well as high tickets
•    increased rates and charges

High risk processors will offer programs  to help reduce potential fraudulent practices as well as charge backs. Take advantage of these options if possible. Over time, these services will lower the risk of your business to the processor.

Should the processing company determine that your risk factors are just too significant, it may decline your request for a merchant account.

Get Approved Now:

Here at TTG we understand the particular concerns that online poker and gambling enterprises confront when trying get a high risk merchant account. Personalized relationships are important in the high risk industry. We have a wide variety of  associations with processors in the U.S. and worldwide, and are able to find the best suited merchant service to match your business.

To set up credit card processing for online poker, a gambling merchant account for your online gaming site, or for more information about rates and service, simply click on the appropriate link below.

U.S. & International Gambling Operators APPLY HERE.

Need more information? Fill out our ONLINE FORM.

Merchant accounts for car dealerships are becoming a more common option as they offer a convenient way for your customers to make the down payment on an auto purchase. The option for the customer to pay what might be a significant amount by credit card may be the difference in winning the sale and not.

Click here to apply now

Merchant accounts for new and used auto parts stores, especially online stores are essential. If you a just getting up and running with your parts store and are in need of a used auto parts merchant account or if you’re simply looking for better rates for your established business, TTG can help.

Since 2004, TTG has been offering solutions for all types of businesses, including new and used auto dealerships and used auto parts resellers. Our experience, knowledge of the merchant account industry, and multiple banking partners allow us to provide the best rates available.

At TTG we strive for service excellence. Like you, we want our customers to be satisfied, and therefore consider the best and most cost effective solution for your business. We’ll take the time to answer all your questions and explain all fees and terms.

The application and approval process is easy and we’ll even walk you through it if you’d like.

If you’re ready to set credit card processing for car sales at your dealership, or set up an auto parts merchant account, fill out our online form below and we’ll get in touch with you as soon as possible.

Need additional information or have questions about setting up a merchant account for your auto related business?

Call us today at .

Ready to accept credit cards? Apply online here.

Under the new rules, the merchant account provider or processor will be required to submit a 1099-K for each merchant.  The difficulty in this lies in the exact matching of the merchant’s business information on file with the IRS and information listed with the processor.  Types of discrepancies may include missing tax id numbers, social security numbers, or differing business names. It will be up to the merchant to make sure all information is matching.

It’s already obvious that there will be issues with merchants and the new law. In order to enforce compliance, the IRS is mandating that the credit card processor withhold 28% of all credit card sales of any merchant with discrepancies until all information is updated and accurate. When the merchant fixes all discrepancies, the 28% will be returned, however, not until year’s end. This backup withholding could cause financial stress for the business.

One of the biggest concerns is the fact banks and processors will be reporting gross receipts. The merchant’s transactions may be less than this amount when they include charge backs, refunds or debit card transactions where customers receive cash back. It will be up to the merchant to keep track of these items separately to be reconciled accurately with the IRS in order to avoid fees and penalties.

There are two exceptions to the requirements in which the processor will not have to file a 1099-K:

1.    The merchant’s total annual transactions do not exceed $20,000
2.    The merchant’s total number of transactions does not exceed 200.

Although credit card payments will be reported at yearend 2011, as a gesture of good faith, the IRS is allowing merchants additional time to fix discrepancies. The IRS will not begin assessing penalties for non-compliance until January 2013.

Call your current processor when you have a few moments and make sure your information is up to date.

As far back as the early 1900’s, department stores began issuing credit to certain customers in order to extend an additional level of customer service and gain loyalty from these valued customers.

The debut of the “Charg-It” card in 1946 was the first bank-sponsored card, issued by Biggins Bank in Brooklyn, New York. The customer would use the card for purchases, the merchant would bill the bank, and the bank would intern bill the customer. This type of transaction processing service, known as a “closed loop system”, was convenient, yet had drawbacks such as only being available to Biggins Bank account holders and only able to be used locally.

After an embarrassing situation in which he forget to bring his wallet to a business dinner he was hosting, Frank McNamera decided there should be an alternative to paying by cash and a better solution to local bank issued credit. In 1949, McNamera created the 1st “members club” card and called it the Diners Club Card. Though technically a credit card, the balance had to be paid in full every month. The Diners Club grew in popularity throughout the 50’s, and in the early 60’s the Diners Club Card became the 1st actual plastic card on the market.

In 1966, Bank of America first introduced the BankAmericard, later to become Visa. About the same time, the Interbank Association (ICA) was created through a cooperative of other credit issuing banks. The ICA was the predecessor to MasterCard Worldwide. These two services became the first “open system” credit card processing services, requiring interbank cooperation and fund transfers.

Throughout the 70’s, Visa and MasterCard standardized the rules and procedures for credit card transaction processing, and were successful in handling exchanges of funds while also keeping fraud to a minimum. Together, they simplified the system, reduced the cost for financial institutions to issue their own cards, and greatly expanded the card payment industry internationally. Both remained the dominant force until the Sears Corporation launched the Discover Card Services brand in 1986 in to compete in the credit services marketplace.

Today, transaction processing services are more sophisticated than ever. Advances in technology ensure protection of both merchants and consumers, yet the simple plastic card with the magnetic strip has changed little in half a century. Although the plastic card is not likely to go away any time soon, there is a lot of time and money being spent on developing the next generation of transaction processing services via the use of a smart phone chip or application. Sooner or later this type of transaction processing will come to fruition. After all, it all began by simply being a convenience to the customer.

Regardless of the fact that these businesses are legal and the medication for sale has been deemed safe by the US Food and Drug Administration, non-controlled pharmacies are listed in a special category and face many restrictions and specific terms. In addition, banks are wary of charge backs, scam sites, and safety in protecting personal and financial information.

Click here to apply now

The Transaction Group (TTG) has been providing merchant account solutions for high risk businesses since 2004. We have banking partners throughout the world and are able to provide the best solution and best rates for your business. Credit card processing for non-controlled pharmacies is one of our specialties. We can help your non-controlled pharmacy reduce charge back liability and fraud through a variety of fraud protection and charge back prevention methods.

TTG can provide virtually unlimited monthly volumes. We provide our high volume merchants with a proprietary load balancing gateway that allows us to load multiple MID’s, or merchant accounts into one gateway. Your transactions will be automatically spread out across multiple merchant accounts, which allows for higher volume and reduced liability for funds being held in risk and reserve.

We also provide a “soft call” verification program for our online pharmacies that can virtually eliminate fraud issues. Our processing department will contact every customer and verify the shipping and billing addresses. The simple, non-intrusive verification process ensures that your online pharmacy will not be the victim of fraud.

If you are just starting your non-controlled pharmacy, facing challenges obtaining a merchant account, or simply looking for better rates, TTG can help.

Questions? Need additional information?

Call us at 888-383-8056 OR fill out our online form and we will contact you immediately.

Apply online by clicking here.

Illegal or Not?

The question of legality is one that is currently being addressed in Colorado and California.  Rep. Jared Polis, D-CO and fourteen other members of Congress have appealed to Timothy Geithner, Treasury Secretary, to provide reassurance for financial institutions.  Additionally, Ron Paul, R-TX, and Barney Frank, D-MA, have cosponsored a bill to repeal laws making the use of medical marijuana illegal.

No statement has been issued by the office of the Treasury in response to the letter and the bill has not yet made it to the floor for debate.  As such, federal law remains in place, leaving both banks and businesses waiting for a resolution.

Looking Beyond the Banks

Of course, no niche is left untapped for long.  Even if banks aren’t willing to step out on a legal limb, there are other solutions available for businesses that are considered too high risk.

At The Transaction Group, we have a solution in place for medical marijuana credit card processing, allowing dispensaries to accept card payments.  The many dispensaries that we have already set up with this solution love it for the low rates, no credit check, and easy approval and set up.

Customers enjoy the convenience of paying with a card. Keep this option available to them at your dispensary.

Call us to find out more. 888-383-8056

With our online application getting set up is fast and easy.  Apply today here!

This type of fluctuation in monthly processing volumes has caused many headaches for internet marketers. There’s nothing worse than running a successful campaign and product launch, only to have your funds ‘held’ by your processor. For some businesses this can be the kiss of death.

Click here to apply now

Another challenge for internet marketers is the type of product your business offers. There are a lot of internet marketing firms that don’t sell a tangible product, but sell ebooks, “how to information”, or other digital products. Historically these types of products carry a ‘high risk’ label with processing banks, therefore making it much more difficult to get approved for a merchant account for their credit card processing needs.

At The Transaction Group we understand the challenges internet marketing merchants face when trying to locate affordable credit card processing services. This is why we’ve partnered up with a select number of reputable credit card processors that understand the internet marketing industry and their unique needs and sales cycles.

And not only do we offer internet merchant accounts for online marketing businesses, but we can also provide credit card terminals for marketing firms, and mobile solutions for the marketer on the go.

Have additional questions or need more information? Contact us here.

Apply online today by using our Online Application.

Businesses that are considered high risk include many ecommerce sites relating to adult material or adult entertainment, online gambling, travel agencies, internet auctions, online pharmacies, e-cigarettes and tobacco products.

Click here to apply now

For these types of business, especially new businesses that don’t have a processing history, obtaining a merchant account in the high risk category can be frustrating.  The application process may seem never-ending as the banking underwriters comb through details of credit history, support documentation, and judge your business based on their values.

Being declined, contacting another provider, restarting the process again and again is overwhelming and exhausting. If you’ve experienced this from domestic providers, it’s time to apply for an offshore merchant account.

There are many benefits of an offshore merchant account that are not available to a domestic or local account, including the ability to approve merchants that have been placed on the TMF (terminated merchant file) list, or have poor credit.

Additional benefits include:
•    Few restrictions or limitations to business type
•    An easy application and approval process
•    Low tax or no tax on transactions
•    The ability and ease for worldwide transactions
•    Discreet transactions
•    Safe and secure processing
•    Instant payment on transactions

If your business is in the high risk category and you have turned down, recently shut down or are just getting off the ground we’d be happy to help.

If you need additional information, please fill out our online form and we will get in touch with you.

If you’re ready to sign up for an offshore merchant account,  fill out the online application.

With an estimated 20,000 tattoo parlors, the tattoo industry continues to grow and living art is becoming more mainstream and accepted. People get tattoos for various reasons. Often some thought goes into the decision and the artwork expresses individuality, but sometimes tattoos are simply impulse buys. For many, tattoos are also addictive. Customers come back again and again to endure the sting for new artwork, additional work on existing tattoos, or color touch-ups to fading aging work.

Click here to apply now

Credit card processing for tattoo shops is a payment option that will offer customers an added convenience to pay over time for what can be a large purchase. Is your tattoo shop missing an opportunity?

- Sales increases for business that offer credit card processing
- Credit cards are secure unlike checks
- Customers may choose additional work knowing they can pay later
- Increased impulse purchases by accepting credit cards

At The Transaction Group, we offer credit card processing terminals for tattoo parlors, smartphone credit card processing for the mobile tattoo artist, and Ecommerce credit card processing. Poor credit? Not a problem. We have banking partners that specialize in working with merchants that have challenges with their credit. Contact us for our low rates and excellent service.

Have questions or need additional information? Fill out this form and we will get in touch with you right away.

Ready to apply? Fill out our online application.