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Whether You Sell Your Products Or Services Through An Actual Brick And Mortar Store, Through A Website, Or Both, You\’ll Make Much More Money If You Accept Credit Cards. How Do You Do That? We\’re Here To Help. Welcome To 4MerchantAccounts.com. This Site Is A Free Information Resource That Will Answer All Your Questions About How To Find And Get A Merchant Account For Your Business. As
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Beware: Avoiding These Merchant Account Disasters |
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Everything You Must Know About Merchant Accounts, Credit Card Merchant Accounts, Online Merchant Account, Free Merchant Account, Ecommerce Merchant Account, And Merchant Account Providers.
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Merchant Processing 101
An E-book For Merchants Who Accept Credit Cards, Giving A Complete Analysis Revealing Hidden/Unneeded Fees. Will Save Thousands!
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Choosing The Right Merchant Account Provider
Author: Mark Woodcock
As a business owner, you want to succeed. You undoubtedly want
to increase your sales and make more money. The best way to do
this is to offer your customers the ability to pay for
merchandise with their credit cards. Whether you operate your
business in a physical location or online-only, allowing
customers the option of credit card payment is logical. You will
increase sales because of the convenience of the payment options
you offer. The vast majority of shoppers, online and in person,
prefer to pay with their credit cards. Opening a merchant
account is the way to give your customers more payment options.
But it is important that you find out as much as you can about
merchant accounts and merchant account providers.
A merchant account is set up through a bank or an online
merchant account provider for a retail or online organization in
order to accept credit cards as payment from customers. A
merchant account is not a bank account. The merchant account
provider's job is to place the money you earn from credit card
sales into your bank account. It used to be that merchant
accounts were only offered by banks and providers to retail
businesses that were located in a physical location. But with
online shopping gaining popularity over the past several years,
merchant account providers have started providing accounts to
online business owners as well. Even though most banks still do
not provide online merchant accounts due to the constant concern
over credit card fraud, there are an increasing amount of online
merchant account providers that offer services especially to
those merchants that market their products online. Because of
the high number of merchant account providers out there, it is
important that you research all aspects of them, what services
they provide, and especially the costs they impose, so that you
don't lose precious profits.
When looking into merchant accounts and providers, be aware that
there are two types pf payment processing that they will offer.
These are manual and real-time processing. Manual processing
requires that the credit card number be delivered through a
phone transaction, fax transaction, or an online order form. The
order is processed manually by contacting the payment processing
company (through an Internet connection) to verify the credit
card number, or by using a point of sale machine to swipe the
card at the time of purchase. This type of processing is more
secure, less costly, and ideal for a low-volume merchant in a
physical store location. Real-time processing is perfect for
web-based merchants because the credit card is immediately
processed at the time an order is placed. Pending verification
and approval of the credit card, the customer receives
notification (via e-mail) that his or her order is accepted and
fund transfer is approved. This is the less secure of the two
processing options.
There are costs associated with opening and sustaining a
merchant account. Not all of the fees are necessary, and not all
merchant account providers will charge them. One type of cost is
the application fee, which covers the costs of processing your
application, whether you open an account or not. A number of
merchant account providers will waive the fee if you decide to
open an account. And some merchant account providers do not
charge this fee at all. There is often an annual fee associated
with a merchant account as well. Merchant account providers
charge this fee simply for holding an account with them. Another
common fee is the statement fee, a monthly fee that can be as
much as $25 per month, and is supposedly imposed by the account
providers in order to cover their own costs. Yet another fee is
the discount rate, which the merchant account provider earns
from each of your sales, usually between 2 and 4 percent. The
fixed transaction fee, like the discount fee, is also based on
each sale, but the provider takes the same amount regardless of
the cost of the product purchased, usually .20-.30. Usually,
buried in the fine print of your agreement with your provider is
a termination fee. Because some providers require a lengthy
commitment period more than 2 years, this fee applies if you
cancel your account early. There are also various miscellaneous
fees that are levied on your account. Often, these charges are
withdrawn if a customer requests a refund, and wants the amount
credited back to their card. There are many costs associated
with an online merchant account, and it can cut into your
profits. It is important that you evaluate different the
merchant account providers you are interested in so that you
save yourself money down the line. You can also use your current
sales information to guesstimate the costs of your merchant
account.
More than likely, you will have a long relationship with your
merchant account provider. Therefore, you should have the utmost
trust and confidence in them. Your provider should offer various
services that will give you options in making your business
transactions run smoothly. They should be able to accommodate
several brands of credit cards (Visa, Mastercard, Discover,
American Express, etc.), in addition to providing other payment
alternatives, such as PayPal. They should have a record of
impeccable service and reliability. They should also be
first-rate customer service providers. Any problems should be
handled discreetly and quickly. Despite the seeming necessity of
having a merchant account provider, it can make or break your
business with its fees and service. That is why it is important
to know the ins and outs of a merchant account provider, and to
choose one carefully.
About the author:
Learn the essential information for picking the right merchant
account services at Merchant Account Provider
Article Keywords:
Merchant Accounts |
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A Quick Note
From The Publisher...
If you like the article above, you may be
interested in the following article which is also related to Merchant Accounts...
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Enable growth with Merchant Accounts |
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A merchant account allows having the business freedom of
accepting all types of payments. It helps to become
self-efficient in profitable opportunities. A merchant account
is the authorization to credit card processing granted by a
financial institution. Such financial institution has to be a
member and certified by the Visa and MasterCard Associations to
provide with the merchant account and all of the services
related to merchant account.
MORE SALES Studies have shown that having a merchant account may
increase sales by as much as 50% or more. Many direct marketing
businesses produce 90 to 100% of their sales by credit card
BIGGER SALES The average credit card user spends 2.5 times as
much as cash buyers.
CASH FLOW When clients pays with credit cards or ATM cards,
money is received faster than if you had to wait for them to
send a check or money order.
IMPULSE BUYERS With credit cards, buyers feel more freedom to
make unplanned purchases.
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Merchant Accounts, Credit Card Merchant Accounts News |
Merchant Warehouse Named Provider of the Year for 2012 by BestInternetMerchantAccount.com BestInternetMerchantAccount.com has selected Merchant Warehouse as the merchant service provider of the year for 2012 because of the outstanding merchant services they provide to businesses everywhere.St. George, UT (PRWEB) January 23, 2012 The Best Internet Merchant Account website is an excellent resource for businesses of all kinds to gather information about the best merchant services ... Leaders Merchant Services Ranked as Best Credit Card Processors by topcreditcardprocessors.com for Month of February ... topcreditcardprocessors.com, the independent authority on credit card processors, has named Leaders Merchant Services as the best credit card processor for the month of February 2012.(PRWEB) February 06, 2012 The independent authority on credit card processors, topcreditcardprocessors.com, has named the top ten best credit card processing companies for the month of February 2012. During the ... Merchant Warehouse Provides Agents Greater Efficiency and Convenience in Managing Business With CB Mobile Office Merchant Warehouse®, a leading innovator in secure payment processing solutions and merchant account services, today announced the release of CB Mobile Office, a new suite of online tools designed for independent sales agents to expand their portfolios with dramatically enhanced efficiency. BluePay, a Provider of Merchant Processing Services, Offers New Plugin for QuickBooks Point of Sale CHICAGO, IL-- - BluePay, a top merchant account provider, offers a new QuickBooks Point of Sale plugin for seamless accounting software integration. Now, in addition to integrating with any workstation ... |
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