Do You Need a Merchant Account?

Art 0 shares 4 comments
Do You Need a Merchant Account?

When it comes to e-commerce, businesses large and small require a method that allows them to collect and process credit card payments. If this sounds like your business, then you need a payment gateway which is generally provided by a merchant account. Finding a merchant account provider can be somewhat of a challenge yet anything can be overcome when doing a little research.

How Much Will it Cost?

For the most part, merchant account providers will charge you a fixed rate per month along with a certain percentage for each sale. Keep in mind that there may be other fees as well. When dealing with a reputable provider, these fees will be for maintaining your shopping cart, verifying customers, processing monthly statement, etc. Having a merchant account is vital in the realm of e-commerce as most consumers today prefer to shop online with their credit cards. If you can’t accept this form of payment, you may as well not even open up a storefront.

RELATED:  The Top 3 Web Hosting Security Issues

How Can I Get One?

When searching for a merchant account, you will find that most providers are pretty reasonably priced. The catch is that you must qualify. Some of the qualifications for a merchant account include background checks, credit checks and proof that you are actually running a legitimate business. Additionally, some will require that you commit to their service for a certain amount of time and charge cancellation fees for breaching the contract. Others do not have stipulations and will allow you to part ways at any given time without taxing on fees. This is why it is very important to look into a particular merchant account provider before deciding on a service. As with most web-related processes, it is best to find a company that is in good standings and has been in the industry for a while. This gives you better assurance that the provider will be around and won’t cause you to miss out on crucial sales.

RELATED:  How Complete is Your E-commerce Solution?

What Should I Look For?

When comparing merchant account providers, don’t hesitate to grill them with hard questions. One thing you definitely want to known is the estimated time frame for depositing funds into your account following a sale. Retail sales generally do not take long to process, therefore, there is no need to wait an ungodly amount of time for your money. You should look over the merchant account contract with a fine-tooth comb because the sooner you get paid, the better. Always keep your eyes peeled for all the standard charges such as monthly fees, setup fees and cancellation fees if they apply. You also want to look for any hidden fees that might deduct from your bottom line. After all the fees have been tallied, you should then calculate the overall cost of service to find out if this solution actually works for your business.

RELATED:  Improving Customer Relations with Live Chat Support

A merchant account is a vital tool in the world of e-commerce and when signing up with the right service, you will find that it can save you noteworthy fees in comparison to a service like PayPal. The key is finding a reliable provider that is going to be around and won’t try to nickel and dime you to death.

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

4 thoughts on “Do You Need a Merchant Account?

  1. First Data Merchant Credit Card Processing Services says:

    By creating a merchant account for your business you can instantly do an online transaction.
    There are lots of merchant account service providers that you can search online but choosing the most reliable and efficient merchant services that can help you in running business efficiently is, a difficult task. The terms and conditions as well as charges of your merchant account will also rely on the type of business you have and the provider you choose.
    Therefore it is important to do research before choosing a merchant account.

  2. Merchant Accounts says:

    How are you doing? Great job on your blog.
    It is very informative and to the point.
    I am giving it 5 stars and look forward to reading more in the future.
    By the way, Would you like to have a link trading with me?
    Looking forward to your reply.Thank you!

  3. Merchant Accounts says:

    Hi, i like your blog, it’s so cool.
    And want to have a link trading with you, look forward to your reply.
    Thank you
    Merchant Accounts

  4. california merchant accounts says:

    I would go with a direct processing company because they do the processing for the banks. Which in turn can pass on savings for you. Instead of the banks getting a percentage on your sales also or charging you for equipment ect. Take your time and shop around.
    When I did, I found Simple Payment Systems, they give you credit card acceptance software free for your web site.And also give you the credit card terminals for free.I think Simple Payment Systems is truly the absolute best for credit card and electronic check processing. (The electronic check processes the check like a credit card.) So the check is deposited into your account ASAP from your business. If it is bad you know right away. I have done my research for a long time. They give you free equipment, free training, free software- with a check out cart! (if you have a web site also that you want to sell tires on.) They beat discount rate quotes that you give them too. They have 24 hour live help, which is handy. Make sure you tell them you want the free program. Why purchase or lease equipment if you don’t have to? We switched from another company over to them. And have never been happier. Go to their web site and call them or fill out the form and they can contact you. I did countless hours of research! Trust me they are the BEST in my opinion.