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HIGH RISK MERCHANT ACCOUNT BASICS

A “Merchant Account” is nothing but an account that you have to open with a financial institution or a bank for the purpose of accepting payments through credit card from your customers. You can obtain a “Merchant Account” from your bank or a provider of merchant accounts. The importance of merchant accounts is due to the fact that today’s customer like more convenient modes of payment such as credit card, debit card and electronic checks, etc.

A “Merchant Account” boosts the sales volume of your business as you can accept payment through credit cards which allows the customer to “Buy Now and Pay Later”. Also, you will be able to get your payments instantly. The entire process of paying and receiving payment is very speedy and highly simplifies and it takes several times lesser time than the traditional way of accepting payments. The entire processing time of payment through credit card using the “Credit Card Swipe Machine” or the internet merchant account is much lesser than the traditional method.

When you make it more convenient for your customer to make the payments, then the obvious and direct result of such an action is growth in your sales volume which in turn makes your business grow. Suppose you are dealing with e – commerce business then this option is virtually a must for your business as the ease and flexibility to shop will result in repeat purchases for your business. The consumer of today prefers to pay mostly by credit card as it is very convenient and also helps keep track of his expenditure. Therefore, it is good business sense if you have one or more merchant accounts for your business.

Once you have decided that you are going to obtain a merchant account the first thing to do is to short list the providers you like. Then, make a thorough background check of the provider and also check his credentials. Make sure that your provider is reliable, trustworthy and offers good security for your transactions. For an online business having an online merchant account is the best choice as it can process credit card payments online and in very short time. The customer or the client will receive an email containing the details of his transaction and waiting for his approval.

The providers of credit card have different fees for different types of “Credit Card Processing”. Some of the different types of fees include discount fee, annual fee, statement fee and application fee. Also different companies charge different fees so it is important you do your research before getting that all important merchant account for your business.

An example is, “Merchant Accounts”, among the biggest merchant accounts processor in the United States. Their solutions for “Credit Card Processing” are the best and most efficient. Some of the unique features provided by this company are “ninety day price match offer” and approval of merchant accounts on the same day. They also have no cancellation fees and provide online applications instantaneously.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.