Running a Successful Finance Business: Tips from Joseph Wilk, Credit Card Processing Company Owner

Joseph Wilk’s credit card and debit card processing company, Millennium Merchant Services, is a world-class financial business, saving its customers thousands of dollars in transaction processing fees each year. What does it take to run such a business? Joseph Wilk gives us some tips.

Know your competition. In starting Millennium Merchant Services, Joseph Wilk set out to be better than competing credit card processing companies. This meant, first of all, knowing how those businesses were operating and figuring out how to do the same things more efficiently while also doing different things. For Joseph Wilk, this meant implementing innovative hardware and software that made processing credit and debit transactions faster and cheaper.

Be creative. Joseph Wilk encourages entrepreneurs in the finance field to stay creative. Do puzzles, keep your brain limber. Solutions will appear in surprising places when you maintain a creative brain.

Create a business team. A group bouncing ideas off of each other is much more likely to come to a good solution than an individual thinking by himself.

Prepare to work long hours. Starting any business often means putting in more hours than you would when managing an established business or working for someone else. Being your own boss means working more than a 40 hour workweek. Joseph Wilk may not be the person answering the customer service lines 24/7, but he makes it clear that his job is not restricted to just normal working hours.

Keep meticulous records. Especially as someone in the merchant services industry, Joseph Wilk recognizes the importance of detailed records. Records keep you accountable and help you to be upfront with customers about your work.

Take risks. Starting a business is in itself a big risk – it could fail and your money could disappear with it. But sometimes the most successful business ventures are calculated risks. Assess carefully, but do not be afraid to try something new, Joseph Wilk advises.

Reasons to Use Your Credit Card: Joseph Wilk of NJ on the Benefits of Electronic Transactions

There are many reasons for using your credit card that go beyond the convenience of electronic transactions in comparison to carrying cash or checks. Buying on credit has many additional benefits, which Joseph Wilk knows all about.

One of the first rewards you might receive in using a credit card is the sign-up bonus. Many credit cards offer cash back, gift cards, or frequent flyer miles when you sign up and have good credit. This is not the only time you can earn such rewards, though, as Joseph Wilk explains.

If you are paying with the right kind of credit card, Joseph Wilk knows that there are all kinds of benefits you can earn. One of these is cash back. Some credit cards provide a kind of return on investment in the form of cash back. Others do it in the form of frequent flyer miles. Cards that offer frequent flyer miles are often the ones you can sign up for on flights. At that time you are likely to be rewarded a large sign-up bonus that could translate into a free flight with only a few purchases. Credit cards that don’t offer cash back or frequent flyer miles might offer a points system. Points are often redeemable for gift cards to various stores.

Of course, these are only the most tangible rewards that credit card usage offers, explains Joseph Wilk. From the most basic perspective, credit cards give their users a grace period that no one form of payment offers – namely, you don’t actually have to have the money to pay for things at that time. And when you use your credit card and pay it on time, you build a solid credit history that makes you a better candidate for things like a mortgage on a house or school loans in the future.

Joseph Wilk of Credit Card Processing Giant: Why You Are Being Charged Too Much on Financial Transactions

Credit card processing fees are an integral part of our financial system, functioning behind the scenes every time someone swipes a card in payment or enters a card number online. But if you are a small or a medium sized business, Joseph Wilk advises you that you might be paying more than you have to if you are using a different credit card processing provider. Joseph Wilk’s credit card processing company is sure to offer the lowest fees when it comes to credit card and debit card processing, in addition to check guarantee and conversion services and technical support.

Joseph Wilk explains, that every time someone uses a credit card, the merchant pays something called an interchange fee, a cost that consists of a percentage of the transaction plus a per-transaction fee. Then there is an additional fee charged by the company that processes transactions for that merchant, whether it is a merchant service provider or an independent sales organization. Millennium Merchant Services is one of these service providers, but it is also distinct from all of its competitors. Owner Joseph Wilk explains that if you are not using Millennium Merchant Services, then you are probably paying more to process your electronic transactions than you have to.

Joseph Wilk’s Millennium Merchant Services is different because it does not disguise its costs or try to overcharge businesses. Every company is charged the exact same rates regardless of its volume. Many competitors offer smaller scale companies a low single rate that does not clarify all of the interchange rates, which allows merchant services providers to charge as much as they want on top of that rate. Because the fees are often lumped together under the guise of one discount rate, some merchants never realize that they are being charged more than they could be. Joseph Wilk’s Millennium Merchant Services is explicit about its costs – it charges 40 cents for every debit card transaction and no more than one-tenth of 1% above the national wholesale interchange rates for credit transactions. No costs are ever hidden from any businesses when they work with Joseph Wilk’s credit card processing company.

Does Credit Card Use Signify a More Robust Economy: Joseph Wilk of NJ on Increased Credit Card Use

It has been a tenuous few years in the global economy, but there are many signs that a recovery may be taking hold. One of those signs is increased credit card use. Overall, increased spending is a sign that the recession is ending, but such a sign is doubly true when it comes to credit card use. Credit card use, says Joseph Wilk of credit card processing company Millennium Merchant Services, is tightly linked to consumer confidence. When credit cards come out, it means that consumers are finally yielding to their desires for home goods, cars, and other big-ticket items. It also shows that consumers are confident they can pay for those items.

Discretionary spending is a good sign for the economy, and it’s a good sign for someone like Joseph Wilk, whose business processes credit card and debit card transactions. Consumer spending and positive economic developments are closely tied together because consumer spending creates jobs, and when people have jobs, they then have the money for discretionary spending. When the economy is on an upswing, then, jobs and spending act in concert to create more jobs and more spending – it’s a cycle.

Still, credit card use isn’t the whole picture, Joseph Wilk points out. Debit card use is growing more quickly than credit card use, and debit cards stand in for a more conservative relationship to spending. For the younger generation, debit cards stand in for cash, and credit cards, in a still cautious market, are not always an option. For older folks, Joseph Wilk points out, debit card use is still a growing trend, signaling the fiscally conservative desire to link payments to already existing money in their checking accounts, rather than taking on more credit. While things look promising, it may still be too early to tell whether or not these financial trends signal the end of this years-long recession, or if they are just a short respite from it.

What Millennium Merchant Services Can Do For You: Joseph Wilk of NJ on His Business

Millennium Merchant Services is Joseph Wilk’s credit card and debit card processing company. Joseph Wilk’s business is all encompassing, offering free 24/7 credit card and debit card customer service and technical support, and check depositing services. Joseph Wilk offers next day deposits of checks as well as protection against bounced checks – even if a check bounces, you still get paid.

Joseph Wilk’s credit card and debit card processing company – Millennium Merchant Services – is the most cost effective transaction processing company in the country due to Joseph Wilk’s breakthrough new pricing program. Joseph Wilk processes debit card transactions for a flat fee of 40 cents with no discount rate percentage and no network acquirer fees, and credit card transactions for no more than one-tenth of 1% of the national wholesale interchange rates that all credit card processing companies pay. And, with the rapidly growing use of debit cards and credit cards – debit card usage is increasing at a rate of 30% per year and credit card usage is increasing at 10% per year – it is important to have a processing company that you can count on. Joseph Wilk guarantees his customers that they will save over half of the money that they are currently spending on transaction processing by switching to his company.

Are you already a customer of Millennium Merchant Services? If you are already a customer, then you should refer a friend! Joseph Wilk offers a $100 referral bonus to customers who bring new customers on board. Tell Joseph Wilk or you referrals about our high-tech terminals with built-in PIN pads and the ability to process transactions in only 2 seconds. Joseph Wilk’s credit card processing company also offers wireless satellite terminals that will run transactions anywhere within the 50 states and electronic check readers that automatically guarantee and deposit checks into your bank without having to go there anymore. Your current company cannot do all of that itself and certainly not for so low a cost!

Joseph Wilk of NJ on Financial Growth: Recent Increases in Credit Card And Debit Card Use

In the last several years, credit and debit card use has increased exponentially. Debit cards have grown faster than credit cards, at a rate of 30% per year, while credit cards have only grown at a rate of 10% per year. Joseph Wilk knows that debit cards are growing more quickly because users recognize them as a more financially conservative form of payment. Former credit card users have been made hesitant by several years in which the national financial scene was tenuous. Joseph Wilk owner of Millennium Merchant Services offered us more information on what this growth looks like.

According to Joseph Wilk, Visa and MasterCard, in particular, have seen significant growth, and the debit card transactions from these 2 card associations represent 52% of all electronic transactions. Visa and MasterCard processed $3.8 trillion dollars in sales in 2010, up from only $2.4 trillion the year before. That $3.8 million dollars represents 50 billion individual transactions made on the 878.8 million Visa and MasterCard credit and debit cards currently in circulation. Joseph Wilk knows that in 2009 Visa and MasterCard only represented 33 billion transactions – that’s a substantial increase in only a year!

Another change that Joseph Wilk has observed in an increase in the use of prepaid cards. Similar to debit cards in terms of immediacy of payment, it is expected that prepaid cards will represent 9.3% of online retail purchases by 2014, up from 5.8% in 2009. The use of prepaid cards also represents an increasingly cautious credit industry which is limiting the issuing of cards to only the most qualified applicants. Overall, says Joseph Wilk, credit card and debit card use is increasing, but it is doing so in a way that represents a more cautious financial outlook and the active replacing of cash and checks by debit cards among younger people.

Millennium Merchant Services is Joseph Wilk of NJ's Business

Joseph Wilk of NJ has been a businessman before he became an official businessman. He has always had an interest in business and everything involved with it. In school he studied business so that he could pursue business as a career, except back then he wasn't quite sure exactly what he would be doing.

Now, Joseph Wilk of NJ works with Millennium Merchant Services and has been there since 2000. For thirteen years, Joseph Wilk of NJ has been helping merchants in over 30 countries get extreme savings on the payment processing fees. Millennium Merchant Services provides all merchants with a guarantee that they will save over half of the money they pay to payment processing companies by switching to their services.

How do they do it? It's fairly simple, and makes it pretty easy for Joseph Wilk of NJ to convince potential customers to sign up for his service. Millennium Merchant Services charges a flat fee of 40 cents for debit card transfers and only a fraction of a percent above the wholesale price of credit card sales. This means Millennium Merchant Services clients are getting the cheapest fees allowed, saving them loads of money in their business.

Businesses big and small use Millennium Merchant Services to manage their payment processing. They know that they are getting a great deal choosing them over other companies, especially the expensive credit card companies themselves.

Not only does Joseph Wilk of NJ's Millennium Merchant Services provide these cheap fees for payment processing, they also help merchants with all of their other payment needs. They can provide apps for Android, Blackberry, and iPhones to provide mobile payment stations. They also provide POS and ATM machines for any business that prefers them over other options. Millennium Merchant Services is there to help its customers save money every step of the way.

New Jersey a Great State for Joseph Wilk of NJ

Joseph Wilk of NJ grew up in – you guessed it – New Jersey. New Jersey is a state on the East Coast of the US. Surprisingly, it's the 3rd smallest state by area in the US, but never seemed too small to Joseph Wilk of NJ while he lived there. There was always something to do around his hometown, and New Jersey was conveniently located not far from Philadelphia, Baltimore, and especially New York City. Being near New York City never makes a place seem small!

There are just over 8.5 million people that call New Jersey home, and Joseph Wilk of NJ is proud to call himself one of those millions. Now that's older, Joseph Wilk of NJ has a much stronger appreciation for the history of New Jersey. He never realized how much New Jersey was involved in colonial American history and the Revolutionary War. When he has time, Joseph Wilk of NJ enjoys reading about the history of his home state.

Sports have always been a big hobby of Joseph Wilk of NJ's. Unfortunately, New Jersey doesn't have a great deal of professional sports teams that are very popular. When it comes to the NFL, many people in New Jersey are split between the New York Jets, the New York Giants, and the Philadelphia Eagles. Joseph Wilk of NJ wishes that New Jersey could have a team of its own, but that probably won't happen any time soon.

Joseph Wilk of NJ is glad he grew up in New Jersey. He was able to get a good education and pursue his interests in business because of that. Now he runs a business that provides cheap payment processing to merchants all over the world. His company is doing very well, which means he's very busy. He doesn't get to visit New Jersey as much as he would like to these days, but when things slow down (if they ever do!) he wants to start visiting family in New Jersey more often.

Helping Others Is Important to Joseph Wilk of NJ

As many people are still having trouble recovering from the recession and economic crisis of the past few years, helping others is becoming more important every day. Lots of people in the US lost a great deal of their savings, their homes, or their jobs. It is taking time and slowly people will recover, but there are still a lot of people suffering.

This is why Joseph Wilk of NJ thinks it's important to help others locally or in the country as a whole. There are a wide variety of organizations and non-profits in operation right now that can help people get by when times are tough. They also provide many services to the less fortunate, like the homeless and the disabled.

Joseph Wilk of NJ has always been a person that looks out for his fellow citizen. He knows he is a fortunate person to have had a successful business going into its 13th year. But just because Joseph Wilk of NJ is doing well, doesn't mean that other people are doing well, and he recognizes that. That's why Joseph Wilk of NJ donates time and money when he can to local and national organizations that do the kind of work he thinks helps the most.

Many people don't think donations or volunteering helps enough. But the problem is that there will never be enough help. Every little bit of help does good in the world and it's important to do what you can to help others, even if it won't solve the problem. At least you will be helping make someone's life just a little bit better.

Joseph Wilk of NJ hopes that some of the money he saves the hundreds of businesses he works with goes back into the community in some way. It's a great place to use the money that a company saves using his company's services. He always makes a suggestion to those companies as a way to use their savings on cheaper payment processing to do good in the world!

Joseph Wilk of NJ Enjoys Travel

In America, not a lot of people truly enjoy to travel. In fact, many Americans have never left the continent and have no desire to. Joseph Wilk of NJ doesn't think this makes them bad people; it is just a rather unfortunate situation for people in the US.

Much of the rest of the world (especially the developed world) is very well traveled. Many citizens of European countries speak multiple languages, including English. Unfortunately, not nearly as many Americans speak a second language. Of course, these statistics are changing as more and more people from different places in the world are coming to the US to study, live, and work.

Joseph Wilk of NJ realized fairly quickly how important it is for a person to travel around the world, at least once in their life. Joseph Wilk of NJ never thought he would be someone who enjoyed travel a great deal, but the first time he had to go out of the country to work with a client, he enjoyed it a great deal.

Traveling taught Joseph Wilk of NJ that there is a wide variety of culture and many different ways of doing things in the world. The same goes for businesses; there are differences in how people do business all over the world. This was an important lesson for Joseph Wilk of NJ because his company is involved in helping merchants process payments much cheaper than the traditional ways of doing so.

This means that merchants not only from the US are interested in his services. Joseph Wilk of NJ has to take into consideration the different cultures and language barriers that foreign business owners may have when working with them. Traveling has been enjoyable for Joseph Wilk of NJ, but it has also been beneficial to growing his business and working with clients all over the world.

Joseph Wilk of NJ Enjoys Business

Business holds an important role in American culture. Many Americans believe that the US is a country of small businesses. It certainly is a company built on small business, but there are plenty of large, multi-national corporations in the US as well. Essentially, the US is a business country and always has been. Not many other countries can compete with the success that US businesses have had over the years.

While Joseph Wilk of NJ doesn't run a multi-national mega-corporation, he does run his own business. Some of his clients are large businesses, but many of them are smaller merchants around the country and the world.

Joseph Wilk of NJ's business, Millennium Merchant Services was started in 2000 and has been growing every year since. Millennium Merchant Services works with businesses and merchants in over 30 different countries to help them save money processing the various payment methods they rely on for business.

Joseph Wilk of NJ's is happy to provide this service. He knows how important it is for businesses to save money at every opportunity – that money can be used to hire new people or to grow the business even more. This is good for everyone!

Joseph Wilk of NJ enjoys his work. He likes to interact with the various businesses that rely on his services to save money. There are countless times when he gets to talk to business owners who are very happy that they are able to save the money they can with Millennium Merchant Services. Every penny matters to businesses and it's good that Joseph Wilk of NJ helps businesses save way more than pennies!

Joseph Wilk of NJ plans to continue working in business for many more years. He really enjoys everything involved with business and is happy he works somewhere that can help merchants all around the world.