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Consumers spend billions of dollars annually on gift cards and gift certificates. For the most part, they are easy to use and are gifts that have universal appeal. However, too many times, users of these cards have found that their value no longer equals that which appears on the card or, worse, that the card or certificate has expired.

Using a credit card is somewhat like taking out a loan from a bank or other financial institution. You have to pay back the credit you used each month. If you pay back less than the full amount you owe each month, you pay interest on the amount you don't pay back. The credit card company sets the total amount you can charge based on your credit history, income, debts and ability to pay.

"I think it's quicker than writing out a check and I don't have to carry a whole bundle of cash with me on vacation and I don't have the hassle of trying to write an out-of-state check," she said. Merchant Lynx

Thieves don't even need your card. As long as they have your name and card number, they can order goods by mail or over the telephone. They can wipe out your bank account before you know the card is missing, or even when you still have the card in your pocket. Protect your debit card by holding on to your debit card receipts and check them against your bank statement each month. Memorize your PIN but don't keep it with your card. Don't choose one that a smart thief could figure out, like your phone number, address, birthday or part of your Social Security number. Never give your PIN to anyone.

Janet uses her bank debit card for almost all her monthly purchases. Asked why she doesn't just pay with cash, she says that she prefers the convenience of a debit card. "It's safer than carrying cash.Yet, debit cards don't have the same protections from unauthorized use as credit cards. And you don't have a huge bill to pay at the end of the month."

A case-in-point is Wings Financial Federal Credit Union ($1.6 Billion in Apple Valley, Minnesota) that already generates 29% of its non-interest income from debit card interchange due to high debit card usage among its members, compared to 16% from credit cards. Despite this already high number, to solidify its position as the PFI for their members the credit union, with 75% checking account penetration, is rolling out a cash-back debit rewards program for its members in 2007.

Merchant Lynx Services’ vision is to provide exceptional services to merchants in the Nation. As a leader in credit card processing, Merchant Lynx strives to serve merchants with innovative services that meet our customers' evolving needs.

From the processor's network the transaction goes to a credit card computer network. Merchant Lynx Services, if the customer is using Visa, for example, the transaction will go to Visa's network. In turn, the electronic transaction goes to the bank that actually issued the card. The bank then checks the account and verifies the customer has adequate credit to cover the purchase. The bank then sends the merchant an authorization over the network. Now the sale is complete, but the transaction is not — no money has changed hands yet

"I like the pay-as-you-go concept where you only spend what you have rather than borrowing" as you would with a credit card, she adds. And of course, if you don't pay off your credit card completely each month, "there are the hefty credit charges." They can run 9 percent to 20 percent. Merchant Lynx Services

All organizations today rely on computer and information technology to conduct business and operate more efficiently. Often, however, these institutions do not have the internal resources to effectively implement new technologies or satisfy their changing needs. When faced with such limitations, organizations turn to the computer systems design and related services industry to meet their specialized needs.

Debit means "subtract." When you use a debit card, you subtract money from your own checking or savings account. As with credit cards, you use it in stores for purchases. At check-out, the card reader electronically contacts your bank and subtracts the amount from your account. The money you have in your bank account limits how much you can spend. However, if you are not careful in watching your daily account balance, you can over withdraw your account. Some systems will allow you to use your debit card when you don't have enough money in your account to cover the purchase. This can result in hefty overdraft fees. Merchant Lynx Services

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