Merchant Credit Card Accounts

In order for a business to process credit cards, they must obtain a merchant account from a bank or merchant account provider.  A business owner who accepts payment in exchange for goods or services is referred to as a merchant.  The account a business owner obtains to accept credit card payment and debit card payment is referred to as a merchant account. It is essential to have a merchant account if they are going to start to accept credit card online. A merchant account allows you to increase your sales, track your customers and helps build a loyal customer database.

The importance of Merchant Accounts and Merchant Account Provider

Setting up and maintaining a merchant account is an important part of operating a business.  In order to set up a merchant account a business owner must fill out a merchant account application from a merchant account provider.  Along with the application, a merchant will likely be required to submit business financials, proof of ownership and allow the risk department to check their personal credit history.

The information provided in order to obtain a merchant account is to protect the bank, the merchant account provider and merchant from fraudulent merchant accounts.  When a business is approved for a merchant account they are essentially being provided an open line of credit, or a series of micro-loans.  A merchant is paid within 24-72 hours for transactions that are billed to consumers at a later date.
              
Risk is assessed on each merchant account and is based on merchant account business type, how transactions will be processed, business credit, personal credit and monthly volume amongst other criteria.  If a fraudulent merchant account is opened and consumers' credit cards are improperly charged, the bank or merchant services provider is responsible for reimbursing all chargebacks if the merchant cannot be located to return the inappropriately obtained funds to the consumer.  

It is important for a business owner to select reliable, trustworthy merchant account provider when setting up a merchant account business.  Selecting a reputable merchant account provider protects the business owner from being subject to excessive or additional processing fees, unreliable customer service and dishonest practices.

Merchant Account Provider

We provides businesses with secure credit card processing solutions at affordable rates.  We do not charge an application fee or any set-up fees.  Our services result in fast, efficient, secure transactions processing capabilities whether you have one employee or ten thousand employees.  In addition to seamless transactions processing we keep your funds flowing and your rates low.  Fill out our online application today to see if you qualify for a merchant account.  One of our friendly account managers will contact you within 24 hours.  We provide no-hassle merchant accounts at low rates.

Our goal is to be more than just a merchant account provider for those that seek additional support and consultation with their merchant account.  Our clients see us as an essential business partner working with them on a daily basis to provide sound online processing advice and solutions.  

We encourages all business owners looking to set-up a new merchant account or switch merchant account providers to educate themselves about merchant accounts and the processing industry.  We recommend researching the companies you are considering on sources such as www.bbb.org and www.ripoffreport.com.  Also, check with your local Chamber of Commerce and see who they may recommend as a local option.

Internet Success in today's business environment is largely influenced by credit card processing.  If your business isn't already taking credit cards, then you should seriously consider the benefits of credit card acceptance.   Today's consumers expect those they do business with to accept credit cards as a form of payment.  Many consumers admit they only visit business's that accept credit cards.  If you don't accept credit cards at your business, you may be losing customers to competitors that offer the option to pay by credit cards for the same service.

Merchant account credit card processing - Increase Sales

Accept credit card payment has many benefits for business owners.  Business owners that accept credit cards find that credit card acceptance increases sales by eliminating a restriction on the amount that a consumer can spend to what's in their pocket.  The average consumer typically carries less than $20 in cash! Business owners also admit to seeing an increase in their average ticket amount after setting up a credit card merchant account.

Merchant account credit card processing - Establish Credibility

In addition to increasing your sales, setting up a merchant account can help a new or existing business establish credibility.  Accepting credit cards at your place of business ensures consumers that you are a reliable place to do business at.  Merchants become connected to financial institutions implementing state-of-the-art credit card merchant processing technology, assuring secure transactions and timely payments.

Credit Cards Purchase vs. Cash Purchase

The amount of people taking advantage of the convenience of debit and credit cards when making purchases is consistently and rapidly increasing.  According to Visa.com, "…nearly 1 in every 3 consumer purchases in the United States is made with a payment card-including credit, debit, and prepaid products U.S. Visa Cardholders conduct more than $1 trillion in annual volume."  Studies have shown that the average credit cards purchase is consistently more than cash purchases.  
Typically, a business owner's main objection to accepting credit cards is the perception that they are giving away a percentage of each sale for a 'luxury' service.  However, most merchants find that the benefits of accepting credit cards far out way the small percentage that they pay.  Business owners simply associate processing fees as a cost of doing business.

Processing fees vary depending on the merchant account provider you sign up with.  Typically, you can expect to pay between 2% and 3% of your total monthly credit card volume in processing fees.  So if you process $1,000 in credit card sales, your total monthly fees will be between $20 and $30.  On average, a merchant will see at least a 20% increase in revenue by accepting credit cards, which far outweighs the 2-3% charged for credit card processing.  

Credit Card Processing Equipment

In addition to setting up a merchant account a business needs credit card processing equipment (hardware or software) to electronically submit transactions for authorization and settlement to the back-end processor. The most common solution for a retail business is credit card processing equipment that allows a card to be swiped at the retail location. We offer a complete line of credit card processing equipment you need to accept credit cards. We have the guaranteed lowest prices on credit card processing equipment, credit card software and all other credit card equipment.

Typical mail/phone order VS. Mail order or telephone order account (MOTO) - Merchant Account

Typically, businesses in industries that accept payments primarily over the phone or by having the customer mail-in payment had to wait weeks to get paid for their services.  Now, businesses that never see their customers face-to-face can receive fast payment by taking credit cards over the phone.  Businesses can get real-time authorizations and know that they are going to get paid.

A mail order or telephone order account (MOTO) is similar to setting up a retail account.  The business owner will need to submit the same application and obtain credit card processing equipment or software in order to process credit card merchant processing or transactions.  The main difference is that in a MOTO account, the credit cards are rarely or never swiped.  The information is typically taken over the phone by the business owner and entered manually into credit card processing equipment or software.

Wireless Credit Card Processing for Mobile Merchants

Today's consumers are accustomed to the convenience of using their credit cards or debit cards at nearly all retail business locations. The demand for business owners to accept credit cards is rapidly increasing. PaymentFuse provides secure, fast wireless credit card processing solutions for mobile merchants so that they may optimally serve their customer base.

In the past, mobile merchants had to rely on cash or checks to complete a transaction.  While effective, many business owners have begun to realize that only taking cash or check has their downfall.  Cash limits the sale to the amount that the customer has on them.  With checks, a business owner is out of luck if they have already provided the service or product and the check bounces. Wireless terminals offer convenience and real-time authorizations all at the standard retail-swipe rate. Retail rates are often much lower than the discount rate for keyed in transactions, resulting in hundreds even thousands of dollars in savings for merchants who typically process transactions by taking an imprint or calling the card number in.

E-Commerce Solutions

An essential part of operating an online business is providing customers with a secure payment option to order products directly from your web site. In order to proceed with online processing, you need online credit card processing. Providing the customers with an Internet merchant account and credit card payment gateway can assist them to purchase goods online anytime, anywhere. Customers who order online are often repeat online shoppers and are aware of the risks associated with online purchases.  Online customers often look for validation that they are entering their personal information into a secure payment gateway.

Business owners who operate online businesses must also be aware of the risks associated with accept credit card payment online.  Business owners are responsible for protecting their customer's personal information from being exposed to the risks of identity theft and fraud.

Internet-based businesses with an online store front must obtain a merchant account in order to accept credit cards online. An internet merchant account allows a business to accept credit card payment through their web site. Our Payment Gateway provides online businesses with the edge they need to make their online business safe, secure and profitable.