The Nielson Business Media Turns to Henry Helgeson for His Expertise in e-Commerce Payment Processing
On January 24th, 2008, the online Nielson Business Media Resource Center featured Merchant Warehouse President & Co-CEO, Henry Helgeson, in an informative article within the Finance section of their website: (http://pronet.nielsen.com/smallbusiness/finance/index.jsp). The column, titled “Get Paid Online,” talks of the grave necessity for internet businesses to establish a convenient checkout option, determine their processing needs, and setup the necessary tools to accept payments online.
With Helgeson’s expert advice, the piece offers e-commerce merchants helpful tips on how to approach establishing their website’s online payment system, proposing that plenty of time and consideration be given to ensure the most appropriate set up. According to the report, it seems as though many e-tailers get so caught up in thinking about their website that they neglect to invest adequate time for online payment functionalities.
“It’s important for every merchant to think about what kind of payments they want to accept, how they want to accept them, what they anticipate their average transaction volume to be, and how much they’re willing to spend on processing costs. With internet merchants however, not only do they need to allow enough time to setup their merchant account and payment processing gateway, but they also need to employ the necessary security shields against online fraud before launching their site,” Henry states.
Credit Card Software or Terminal?
Deciding on whether you want to use a credit card terminal or some form of payment processing software to handle card transactions should is usually fairly straightforward. The answer generally depends on the physical environment in which you will be accepting the charges.
Most simply put, the decision usually boils down to whether or not you will have easy access to a computer when you need to charge cards and what kind of transactions systems you already have in place.
If a computer is readily available payment processing software often provides numerous benefits over traditional credit card terminals. Most users love the reporting features available to them and find it helpful to go back and look up a previous transaction. Payment processing software is also usually less expensive and more user friendly than most new credit card terminals.
There are logical reasons why many businesses may be better off with a terminal however. To start with, many businesses already have invested in some sort of cash register or POS system. While some of these can be integrated with payment processing software, many can not. In these cases, it is usually simpler to use a credit card machine rather than cluttering your valuable counter space.
Another circumstance when a terminal may be preferable is when your computer may not always be on or may be in an inconvenient location. If you need to take payments in real-time and can’t be inconvenienced with accessing your PC, then you may be better off with a credit card terminal.
Merchant Warehouse Giving Back in 2007
2007 was a phenomenal year for Merchant Warehouse and we have dedicated ourselves to sharing our good fortune with those in need. We honored this commitment with both time and money throughout the year.
Casual Friday Donations
Every Friday is Casual Day at Merchant Warehouse. In 2007 all employees were asked to contribute a few dollars each week to a local or national charity chosen by an individual staff member. Over the course of the year it added up to almost $13,000 given to charities focused on an array of worthy causes including:
- Organizations in the Fight Against Cancer, AIDS and Other Diseases: $5,006
- Organizations Benefiting Children: $3,842
- Women’s Organizations: $1,712
- Organizations Battling Poverty: $1,507
- Organization Benefiting the Elderly: $674
- International Organizations: $1,959
Community Support and Activities
Merchant Warehouse employees have volunteered their time, energy, and skills in the community throughout the year.
- In May we participated in National Corporate Volunteer Day when we helped clean and renovate the Salem Boys and Girls Club to create new spaces which are both functional and safe. Our work there allowed the club to expand their hours to accommodate more children in the evenings and on Saturdays.
- In June we participated in the Corporate Challenge, a 5K race course, where we joined a crowd of 12,000 people who contributed $500,000 to the Waterfront Performing Arts Series.
- In September, we participated in National Public Lands Day. Volunteers from Merchant Warehouse worked at the Stony Brook Reservation in Hyde Park working to clean up the area and help give that part of the community a face lift.
- Also in September employees participated in the Jimmy Fund Walk, many of them walking the Full Boston Marathon course, to help change the odds for patients facing cancer. The MW team raised almost $2,000 towards cancer research and patient care.
- In December Merchant Warehouse employees became Frosty’s Friends and gave gifts to the Children at the Somerville YMCA and The Guidance Center. Due to the generosity of the "Frostys" at MW, many children in need received personalized gifts they would not have otherwise.
Going Green
2007 also marked the year that Merchant Warehouse began its course towards going Green. We began focusing on saving energy and using fewer resources around the office. We even installed a new fax system to help eliminate the massive quantities of paper being printed each day.
We also started a partnership with the Bonneville Environmental Foundation (BEF) to purchase Green Tags to offset our energy consumption and carbon emissions on a monthly basis. BEF offsets these emissions by replacing traditional sources of electricity with clean, secure, and sustainable renewable energy from across North America. Merchant Warehouse will be purchasing 433 Green Tags per year to add 433,000 kilowatt-hours of renewable energy into our power grids. That’s the equivalent of avoiding 606,200 pounds of air pollution each year.
Thanks to the staff and to the tens of thousands of businesses who allow us to have, and share, our success!
All in all, Merchant Warehouse employees spent the year committing money, time, skills, energy, and strength to giving back, and we are extremely proud of the impact. We donated almost $20,000, committed dozens of days worth of time, lifted 1000s of pounds, ran and walked hundreds of miles, pulled hundreds of weeds, donated 44 gifts to children, and even saved some trees along the way!
QSR Magazine
In the January 2008 (c.29, 425) edition of QSR Magazine, Merchant Warehouse President, Henry Helgeson, comments on the evolution of point-of-sale (POS) systems as a result of the expansion of consumer payment methods and the operational needs of QSR businesses in today’s fast-paced world.
The article, titled “More Than a Cash Register,” highlights the progress, functionality, and future of quick-serve POS systems, and also speaks to the growth and beneficial implementation of contactless payment technology within quick-service environments.
“Contemporary POS systems have evolved into complete business management solutions that help improve operations and service, enhance efficiency and convenience, and create a more enjoyable customer experience,” stated Helgeson.
Nevertheless, as new consumer payment methods develop and quick-serve business structures change, POS systems must continue to adjust and advance accordingly. In fact, the solutions of today have already upgraded in capabilities and modified in price to meet the needs of various business types. As each new generation of POS systems declines in price and offers more features and intuitive usability, merchants who formerly did not have the funds to own or the skill-set to operate such systems are now embracing these comprehensive tools.
The newest device, referred as “contactless payment technology,” also offers significant advantages, especially for quick-serve merchants, yet very few have implemented the systems thus far. “Slow adoption of contactless equipment may be partly due to a shortage in the number of contactless cards being issued, which in turn, causes a lack of consumer knowledge and use. I’m confident that it will gain popularity in the future, as awareness of and accessibility to the technology expands,” suggests Helgeson.
With so many affordable, sophisticated solutions now available to QSRs, many anticipate that electronic card processing and POS System integrations will soon wholly administer the quick-serve market.
Selecting an Online Payment Gateway
While many online payment gateway options are feature rich you still want to spend some time comparing them. This article explains how to go about determining the best online payment gateway option for your business.
Some may prove better in different environments and the reasons can sometimes be quite technical. Take the time to read up on the specs and compatibilities of the different online payment gateway packages. If there is any confusion, or you aren’t certain what might be the best product for you, be sure to call and ask your salesperson questions. Any experienced sales person should be able to fit you with the correct product and describe the pros and cons.
If you already have an ecommerce website and a shopping cart, simply mention this to your sales person when you call. Most off-the-shelf shopping cart packages are compatible with all major online payment gateway products. If your company has built its own shopping cart and database systems you may want to consider having your technical person review the documentation for the gateway you choose.
Merchant Warehouse carries all of the major online payment gateways on the market today. You can browse through all of them in our section for payment gateways.
QSR Magazine
In the January 2008 (c.29, 425) edition of QSR Magazine, Merchant Warehouse President, Henry Helgeson, comments on the evolution of point-of-sale (POS) systems as a result of the expansion of consumer payment methods and the operational needs of QSR businesses in today’s fast-paced world.
The article, titled “More Than a Cash Register,” highlights the progress, functionality, and future of quick-serve POS systems, and also speaks to the growth and beneficial implementation of contactless payment technology within quick-service environments.
“Contemporary POS systems have evolved into complete business management solutions that help improve operations and service, enhance efficiency and convenience, and create a more enjoyable customer experience,” stated Helgeson.
Nevertheless, as new consumer payment methods develop and quick-serve business structures change, POS systems must continue to adjust and advance accordingly. In fact, the solutions of today have already upgraded in capabilities and modified in price to meet the needs of various business types. As each new generation of POS systems declines in price and offers more features and intuitive usability, merchants who formerly did not have the funds to own or the skill-set to operate such systems are now embracing these comprehensive tools.
The newest device, referred as “contactless payment technology,” also offers significant advantages, especially for quick-serve merchants, yet very few have implemented the systems thus far. “Slow adoption of contactless equipment may be partly due to a shortage in the number of contactless cards being issued, which in turn, causes a lack of consumer knowledge and use. I’m confident that it will gain popularity in the future, as awareness of and accessibility to the technology expands,” suggests Helgeson.
With so many affordable, sophisticated solutions now available to QSRs, many anticipate that electronic card processing and POS System integrations will soon wholly administer the quick-serve market.