ACCEPTING CREDIT CARDS WILL INCREASE YOUR SALES !
 
Jim Krause, President of Axin Financial Services, Inc. has agreed to
write a series of articles for "Sharing Ideas News Magazine" to help its
subscribers and advertisers understand how they can increase their sales
by accepting credit cards.  Axin Financial Services, Inc. is an
equipment finance leasing company specializing in merchant electronic
draft capture equipment.  Axin's lease portfolio includes many
home-based businesses, seminar providers, consulting companies, and
telephone order sales companies as well as retail stores.  Axin
Financial Services, Inc. is a member of the Brea Chamber of Commerce and
is also an Associate Member of the Bank Administration Institute that
has eighty-eight member banks in the two chapters that Axin is
associated with.  Axin's CompuServe User Identification is #74271,1045.
Contact Axin Financial Services, Inc. and Jim Krause at (310) 694-0565.
 
Most businesses find that accepting credit cards (American Express,
Discover, MasterCard, Visa) substantially increases sales by taking the
immediate cash availability factor out of the prospective buyer's
decision making process.  With credit card acceptance, the prospective
buyer only has to decide if your product will be a benefit in his or her
life and is the price appropriate in relation to the perceived benefit.
The customer's present lack of cash availability eliminates numerous
sales opportunities that would be closed by accepting the prospective
buyer's credit card!  Michael Haschka, owner of Graphic Impact, in
Camarillo, California (a home-based business specializing in developing
and selling Windows Shareware utilities and small applications) recently
remarked in an interview for CompuServe Magazine: "My volume of orders
has increased approximately 70% through the usage of the merchant card
account!  I am now able to process many more orders from foreign
countries since it does not require a common currency or system of
banking.  The sign up process was dead simple with the help of Axin
Financial Services.  The entire process has been virtually effortless
and hassle free for me!"
 
Only a small percentage of U.S. banks are merchant sales draft
"acquiring" banks and most "acquiring" banks will only sponsor retail
store fronts to access the credit card acceptance networks.  However, a
few progressive thinking banks will accept merchants operating in the
non-standard retail setting.  With "home-based businesses," "off-premise
sales, " and "mail / telephone order sales" increasing much faster than
traditional retail store front sales, banks that will look at the
merchant's total situation instead of just the retail store front are
understanding sales in the 90's!
 
There are two main criteria considered when merchant banks review the
"non-standard" merchant.  The first criteria is the personal credit
history of the owner(s) of the company.  A clean credit history shows
the individual can control his/her finances and is not a high risk to
defraud the credit card system if money problems arise in the future.
The second criteria is the product(s) to be sold in credit card
transactions.  The product must be clearly described and should not make
any promises that might not be delivered, which would cause buyer
remorse and "charge-backs."  If the merchant can pass these two
criteria, chances are excellent for merchant credit card processing
approval.
 
Most merchant credit card processing banks will deposit the credit card
sales proceeds directly into the merchant's existing business bank
account and do not require that the merchant open an account with their
bank.  The money is transferred electronically to the merchant's
business bank account via the Federal Reserve Automated Clearing House
and is in the merchant's bank account two business days after the charge
transaction.  The merchant receives a monthly bankcard statement that
provides a breakdown of all transactions and service charges.
 
Future articles in this space will deal with reader's questions
regarding credit card acceptance issues.  Please send your questions or
topic requests to:
 
Jim Krause
Axin Financial Services, Inc.
581 Charwood Ct.
Brea, CA 92621
 
(310) 694-0565 or fax (310) 694-0565.
 
Axin Financial Services, Inc.'s CompuServe ID# is 74271,1045
