Credit Card Payment Systems

Credit card payment systems are changing how America does business here and around the world and the rest of that world is following suit. The companies that offer the processing of credit card processing act as middlemen between merchants who sell goods and services and banks who back the credit card purchases. Until recently, checks and cash ruled the retail world, but it is now charge or plastic (evidence by the trillions of dollars Americans hold in wallet plastic debt) and debit plastic that rule the purchasing world. And these purchases are all run through charge plastic and debit card payment processing services. Merchants and businesses pay the clearing houses for each plastic transaction and in many cases, an additional monthly fee.

Even as few as twenty years ago, many small businesses did not take charge cards and certainly did not take debit plastic. If a person walked into Mom and Pop's Pure Maple Syrup Store, there certainly could be a sign above the cash register touting "No Plastic, Cash Only" as the philosophy behind the store's success. Keeping prices low by not dealing with wallet plastic fees and bounced checks would have been a source of pride. But when Uncle Jim and Aunt Sue's Better Maple Syrup Shoppe opened a mile down the road, that business started taking charge cards and debit plastic and it was off to the races because a whole new breed of customer walked into that establishment. Consequently, Jim and Sue, who weren't really an uncle or an aunt, signed up for one of the credit card payment systems offered on the Internet, and soon joined the service's debit card payment processing optional service. And in a country where charging was easy and paying out of a checking account without paper was really popular, the parking lot of was full and Mom and Pop, twenty three year old newlyweds had a lot of time wiping down the cobwebs in their very lonely store.

So Mom and Pop got busy looking into plastic processing. The two discovered that almost one hundred percent of all businesses can get the services of debit and credit card payment systems, but not all of the businesses will pay the same fees to the processing center. These particular services are very careful about offering the best rates only to low risk merchant accounts. Low risk merchant accounts include would include such businesses as retail establishments offering in-person charge card swipes(like Uncle Jim and Aunt Sue's business), restaurants, hotels and motels and home based businesses. All of these types of commerce have had long track records of not packing up and leaving overnight. They historically receive lower interest rates and lower processing fees for charge and debit transactions. So Mom and Pop had a business that could receive the same low risk merchant account and Aunt Sue and Uncle Jim.

Credit card payment systems also offer services to high risk merchants, but at much higher rates and fees. Trying to figure out who might be a high risk merchant will probably have little to do with a business owner's own credit history, or whether or not the owner has been in jail or some other factor. Instead, the credit card payments systems will look to see if a business might have an easy time of packing up and splitting during the night, somewhat like the famous football team did years ago leaving out of a large northern Ohio city literally at night for an eastern shore city. Common reputations among certain business ventures are quickly formed when trying to assign high risk and low risk status. But to make in the American market, an owner will have to bite the bullet and pay whatever fees are required because the days of cash only certainly have gone the way of black and white television.

Down came the" No Charge Cards" sign and the young couple hired a seventy five year old ex actress to stand outside and wear a "We Take All Plastic" sandwich sign, and soon Mom and Pop's trade was back with a vengeance because they opened up a pancake eatery to showcase their maple syrup. This business savvy couple learned that credit card payment systems and the twin counterpart, debit card payment processing services were critical to twenty first century commerce. There are some very helpful services that come along with these companies. These services offer charge card security checks before the transaction is completed and handle chargeback issues (refunds) for the merchant as well as disputes of payment between customer and merchant. "Heaven and earth shall pass away but my words shall not pass away." (Luke 21:33)

"Ya gotta give 'em what they want" is certainly an American business creed as evidenced by debit card payment processing. It's true for television, grocery stores, autos, sports and just about anything in American life. The United States is not exactly about sitting back and waiting for something better to come along; most of us want the something better now. The Bible teaches that wise people sit back and allow God to do with them what He wills, good or bad, because there is definitely something very good in the future that is well worth waiting for. Perhaps a more biblical view of life would bring more joy. If a business wants to make money, one must use credit card payments systems, but if a person wants real happiness, rest in life's circumstances. There is something a whole lot better coming soon.




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