Merchants accepting credit cards, and especially the contactless payment cards like MasterCard’s PayPass and Visa’s payWave are finding increases in sales and higher security. Both contactless payment cards utilize the RFID technology – tiny chips that identify the card account as well as issue a code for each transaction. While public transportation terminals and gas stations have implemented the technology, retail merchants accepting credit cards across America have been slower to adopt.

The major credit card companies in Japan and the US are pushing the new technology as safer than the prior use of credit card and PIN, since criminals had figured out how to access both PIN and the PIN encryption technology, leaving customers open to credit card fraud. The RFID technology solves the encryption hacking situation for customers and business owners.

Merchants who improve their credit card processing system to accept the new “wave” in payment services are tapping into the growing population of post-Baby boomer generations. These are consumers who demographically embrace new technologies quickly. MasterCard found that users who adopt their PayPass credit cards tend to use them as their preferred card and spending increases 28% – 42%.

Many college and high school buyers open checking accounts and never request checks – they pay bills online and use debit or credit cards for minor and major sales transactions that prior generations always paid with cash or checks. Merchants also find the reduction in cash purchases has reduced their losses from cash register shortfalls at the end of the day.

The trend to use credit cards for more purchases helps those merchants who find business cash advances profitable ways to expand their businesses and ride out economic bumps in the road. US Business Finance Corp is a cutting edge alternative business financing company offering its clients competitive rates on merchant credit card processing services and merchant cash advances.

If your business is ready to make better use of your Visa and MasterCard sales traffic, call our small business consultants for a free session to see how your business can benefit and come out ahead from our alternative business lending services.

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Filed under: Business Solutions, MasterCard/VISA, Office and Technology

US Business Finance Corp financial services for start-up businesses helps them reduce their Visa and MasterCard credit card processing costs due to their “high risk” status. Businesses like Internet sale of computers, software and electronics may always have to work with their high risk status, but many start-ups fall in the high risk category simply because they are less than two years old, are working out of their home office or garage, or take credit card orders over the phone.

US Business Finance Corp specializes in helping start-ups and other high risk merchant credit card account businesses both obtain high risk card processing services for Visa and MasterCard and train owners and employees on the best ways to improve their rates.

Training, historically, has helped owners minimize small errors that have large repercussions in their merchant ratings. Three basic training rules are:

1. Never accept foreign credit cards or suspicious card.
2. Avoid chargebacks, whatever it takes. If possible assign one person to customer service to make sure you have a satisfied customer and keep chargebacks to an absolute minimum.
3. Never run a charge for products other than the ones you sell. Offering to take a charge for a friend, regardless of how close a friend they are, may lose you your merchant account. If your credit card processing company detects a major change in your charging levels or the products you sell, they may terminate your merchant account. Once your merchant account is terminated, you will have a very hard time getting a new merchant account from any provider until five years pass.

With consistently good months of no chargebacks and no other activity that undermines your merchant account, US Business Finance Corp can work with you and the merchant credit card processing company to reduce both your rate and the amount of funds in your holdback account (funds held in reserve to cover chargebacks).

While risk in business is natural (and often the more risk the higher the potential profit return), US Business Finance Corp works with entrepreneurs to reduce the risk of higher rates and an unnecessary assessment of high risk rating. With our knowledge of credit card processing services, we can help middle risk businesses, such as auto service centers, furniture stores and computer stores better ratings.

Often financing institutions only have two rate categories – low risk and high risk. This unfairly penalizes the many in-between businesses. US Business Finance Corp finds you the best rates and fees for your small or mid-size business.

If your start-up small business or high risk business is in need of a merchant credit card account or better rates for your high risk rating, contact the Visa and MasterCard experts at US Business Finance Corp – we’ll save you money while you make money!

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Filed under: Business Solutions, MasterCard/VISA, Your New Business

Where US Business Finance Corp’s credit card processing services and merchant cash advance programs serve business owners’ more immediate sales, credit and funding needs, our new financial services address the success of your long range retirement plans. The financial advisers at US Business Finance Corp (USBFC) have worked with enough self-employed entrepreneurs and sole proprietors to know that owners are often are so busy working that they fail to make time for creating a retirement plan.

With the stock market devaluation and Washington’s questionable ability to have Social Security meet the surge in its retirement obligations due to Baby Boomers exiting the workforce en masse in the next decade, many business owners and their employees are looking to their own devices to assure themselves of a beneficial quality of life during retirement.

For retirement purposes, USBFC has added Private Employer Benefit plans to its financial services. Additional tools for meeting unexpected economic reversals that USBFC offers are life insurance, mortgage insurance and critical illness insurance – these help business owners’ families continue to live in their home and bills get paid should anything untimely happen to the owner.

To assist an entrepreneurs needs as well as those of their business, USBFC advisers take into account the company’s budget and needs for insurance, tax liabilities, potential areas of tax deferment, retirement plans as well as the family’s education funding and estate planning needs. USBFC views your retirement plan as a way to get the most out of your most precious asset: your time. By creating a retirement plan for you and your employees, the time you spend building your business rewards you doubly by also funding your retirement.

At USBFC, we work with you to make sure your business avoids the setbacks that employees of major corporations face when their retirement programs disappear in financial reorganizations. Entrepreneurs enjoy running small businesses in order to better control the dynamics between work and profit. Control your retirement plans and deferred compensation strategy, contact USBFC’s financial services advisers and match your business to a suitable, stable Private Employer Benefit plan today.

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Filed under: Business Cash Flow, Business Solutions, Business Tools, Money Matters - Personal