Domestic Merchant Account Options

It's frustrating to imagine your business being the only one in town not accepting credit cards. That might be the case if you have a small business and are considering doing your own merchant processing. But you don't have to be self-reliant when it comes to payments when there are plenty of options available for those who want to do their processing without involving themselves with the complexities and risks of merchant accounts.

Whether you're looking for the best rates or want a turnkey solution, this article will help you find an option that's right for your company.

The benefits of merchant accounts

As a business owner, you should have taken into consideration the potential of accepting credit cards when you researched your market. If you already accept cards and need help with your merchant account, you may be looking to upgrade your current situation, or perhaps parting ways with an ex-merchant provider. No matter what your business goals are, there are certain benefits that come from accepting cards:

• Accepting credit cards saves you money by eliminating the cost of processing checks.

• You can avoid writing bad checks by using a credit card for refunds when necessary.

• You can reach more customers and grow your business with new sales opportunities provided by accepting cards.

• You can track your sales and expenses.

• You can improve customer service by shipping orders to customers promptly.

• Your payments are processed quickly, preventing late fees and other overdraft fees.

There are a few things to consider when choosing a provider:

To find the best rates, you'll want to look at what other businesses offer in terms of services or features. Some providers will charge you an upfront fee when you begin accepting cards, while others offer this as an option. If your business is new, it's a good idea to check with current merchant account providers as they may be willing to offer lower rates because they've already worked with your industry.

You may be able to save money by using your own equipment if you're using a third-party processor. If you find a provider that offers services such as card reader or chip reader, check to see what kind of equipment your business needs for accepting cards. For example, many third-party processors offer card readers that allow you to accept both magnetic strip and chip cards. These are great for businesses that manufacture or distribute items and want the option of accepting both types of cards.

It's important to consider what kind of service is available if you're using a merchant account provider instead of going it alone with your own equipment and processing. If you choose a third-party processor, make sure you understand exactly what you're getting in the way of services. Another important factor is the ability to manage your business' account online. If you're happy with the service, choose a provider that offers this. If not, look for another option that offers an attractive package without making it too difficult to manage your account.

The costs of merchant accounts

While the benefits of accepting cards are numerous, so are the costs involved with merchant accounts:

• When you choose a third-party processor, it can cost more than working directly with a bank or acquiring your own equipment and systems.

• You'll have to think about the ongoing costs of a merchant account. Third-party processors charge monthly fees, and there are monthly minimums, fees for extra sales, and other fees to consider.

There are options for small businesses that want to accept credit cards, but don't want to assume the risks associated with merchant accounts:

You can get all the benefits of accepting cards in your business by partnering with an alternative payment processor or reseller that specializes in these services. These companies act as agents of your business and provide the equipment, processing facilities, services, and training needed to add this capability to your company.

Depending on your business' needs, you may want to consider a reseller or payment processor that offers merchant account services directly. These companies operate as a merchant bank and may offer you the attention and support you need for a growing business. They'll take care of everything from the initial setup to payments, customer service, marketing, and advertising. Learn more about handling your own processing at https://www.creditcardsfaq.com/merchant-account

You can find individual options in our Merchant Accounts Comparison table at https://www.creditcardsfaq.com/merchant-accounts-comparison but if you're looking for one of our top recommended providers please use this link: https://www.creditcardsfaq.com/merchant-accounts

This Article Compares the Features and Rates of the Top Solutions for Accepting Credit Cards in Your Business.

To Read about our Top Recommended Merchant Account Providers Please click here: https://www.creditcardsfaq.com/merchant-accounts-providers

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Source: http://www.creditcardsfaq.com/blog/2014/03/10/the-best-merchant-account-options-for-yourbusiness/#more-5084

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Conclusion:

The Merchant Accounts Comparison table, shown below, makes it simple to compare the features and fees of various merchant account services. You can find individual options in this comparison table at https://www.creditcardsfaq.com/merchant-accounts-comparison

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